Përshëndetje,
Victoria from Techpoint here.
Here's what I've got for you today:
- Ghana’s SEC grants Chipper Cash a licence
- Why soft skills are now the top hiring priority
- Nigeria’s Risevest completes Kenya’s Hisa acquisition
Ghana’s SEC grants Chipper Cash a licence
Chipper Cash, a cross-border payments fintech, has been granted a broker-dealer licence by Ghana's Securities and Exchange Commission (SEC), allowing it to operate in the country’s financial markets.
With this licence, Chipper Cash can now offer brokerage services for individuals and institutions, providing direct market access for faster trades and competitive pricing.
The new licence also means Chipper Cash users will soon be able to trade securities like stocks and bonds directly through the app. Plus, they’ll get personalised investment advice using AI and access to Initial Public Offerings (IPOs), offering opportunities to invest in companies as they go public.
One of the exciting features Chipper Cash plans to introduce is fractional investments, making it possible for users to invest smaller amounts in high-priced stocks or ETFs.
Chipper Cash has been steadily expanding its portfolio of licences, with up to 55 global licences already in place, including in the US.
The fintech recently resumed its US operations after switching to a new banking partner, enabling users in the US to send money to African markets like Ghana, Nigeria, and Uganda.
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Looking ahead, Chipper Cash may also get approval to operate in Kenya as the Central Bank of Kenya plans to amend its Payments Act to issue fintech payment licences.
Why soft skills are now the top hiring priority
Ever wondered how some people seem to juggle multiple full-time jobs effortlessly? A software developer recently shared his method: managing three remote roles and a side gig by slicing his day into blocks.
He’s confident that his strong work ethic shines through, especially when he's upfront about deadlines and still delivers solid results. But is it as easy as it sounds?
Babajide Duroshola, General Manager at M-KOPA, challenged this smooth-sailing story in a recent post on X. He expressed frustration with Nigerian developers who overcommit, prioritising pay over quality, leading to poor work and missed deadlines.
This sparked a debate on whether the issues stem from a lack of skills or if they’re a survival tactic in a tough job market where main employers don’t pay enough.
One commenter pointed out that managing multiple jobs with high performance takes incredible time management skills. It’s not easy to keep up stellar results across the board, and it requires exceptional organisational abilities.
Duroshola also mentioned that lacking soft skills might force employers to choose between keeping a top performer or letting them go. Even the most skilled tech workers can fall short without the necessary soft skills.
A 2021 report found that 89% of new hire failures were due to attitude and soft skills, not technical competence. Want to learn more? Dive into Oluwanifemi’s story for further insights.
Nigeria’s Risevest completes Kenya’s Hisa acquisition
Nigerian fintech company Risevest has just acquired Hisa, a Kenyan investment startup.
With approval from Kenya's Capital Markets Authority (CMA), Risevest is set to integrate Hisa while keeping its name and staff intact for now.
Why? Risevest’s CEO, Eke Urum, says they’re taking time to fully understand Hisa and the market before making major changes. Although the company is keeping mum on the details, one report says the deal involves cash and stock.
Hisa’s CEO, Eric Jackson, is stepping into the role of CTO, while Eric Asuma, the former CEO, will stay on as a strategy advisor. Leah Njoroge, previously an investment analyst, has been promoted to head of operations at Hisa and will manage the team directly reporting to Urum. Risevest is planning to bring in more leadership as things settle down.
This acquisition follows reports from July 2024 about Risevest's plans to acquire Hisa to strengthen its foothold in Kenya. It comes after the wealth management platform’s 2023 purchase of Chaka, another digital trading startup.
Founded in 2020 and valued at $5 million after its 2022 pre-seed round, Hisa has been opening up global investment opportunities for Kenyans.
With this move, Risevest can now expand into the Kenyan market without needing new licences, a big win for their East African growth plans.
In case you missed them
- Paymob closes $22 million in Series B extension, achieves profitability in Egypt
- From the classroom to the boardroom: How Kenfield Griffith is bridging Africa’s digital divide
- South Africa's Information Regulator includes Google and X in election probe
What I'm watching
- Exposing Africa's Part In The Slave Trade
Opportunities
- Pitch Friday is tomorrow, Friday, September 13, 2024. Register here.
- Selar’s third annual Creator Summit, themed "Living The Pan-African Dream as a Creator," will take place on September 20-21, 2024, featuring top speakers and focusing on content monetisation and digital entrepreneurship for African creators. Register here.
- Techpoint is hiring a Managing Editor. Apply here.
- Follow Techpoint Africa's WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a terrific Thursday!
Victoria Fakiya for Techpoint Africa.
