Hola,
Delight here,
Here’s what I have for you today:
- Federal High Court defends Facebook against ARCON ₦60 million fine
- Terrahaptix sets its sights on South African mining industry
- Morocco’s Z raises $1.5 million to up FMCG sector
Federal court defends Facebook against ₦60 billion fine
A Federal High Court in Lagos has temporarily stopped the Nigerian government from enforcing a ₦60 billion fine against Meta’s Facebook.
Justice Yellim Bogoro gave the ruling after Facebook’s lawyers filed an application challenging the fine imposed by the Advertising Regulatory Council of Nigeria (ARCON) in October 2024.
Here’s what went down: ARCON accused Facebook of running unauthorised ads in Nigeria, claiming the ads didn’t go through its Advertising Standards Panel for vetting. They also said the ads violated cultural and moral values. Based on this, ARCON slammed Meta with a ₦60 billion fine and other penalties.
Meta wasn’t having it. They filed a suit arguing that the fine was excessive and unconstitutional. They also challenged ARCON’s authority to impose such fines, saying Facebook operates within global advertising standards.
Justice Bogoro ruled in Meta’s favour for now, stopping ARCON from enforcing the fine or taking further action against Facebook until the case is decided.
The next hearing is set for February 2025, where both sides will lay out their arguments in detail. Stay tuned!
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Terrahaptix sets its sights on South Africa’s mining industry
Remember back in November 2024, we talked about Nathan Nwachukwu and Maxwell Maduka, the brilliant minds behind Terrahaptix, a Nigerian drone startup?
Well, here’s the latest: Terrahaptix is about to start supplying its drone tech to the South African mining industry through a partnership with DiggingDeep.
Big news, right? But there’s more! The startup just hit $2 million in revenue—after only one year in business. Crazy impressive!
South Africa is a prime spot for drone tech, with tons of potential across industries. This deal will focus on high-resolution mapping and monitoring for mining operations, improving safety and efficiency.
Globally, the mining industry is all-in on drones—65% of miners are using them already. The market is now worth a massive $31.4 billion.
With this expansion, South Africa becomes the fifth country Terrahaptix is entering, joining Congo, Ghana, Kenya, Côte d’Ivoire, and, of course, Nigeria.
Want to know how this Nigerian drone startup is taking over the African market? Dive into their story here!
Morocco’s Z raises $1.5 million to up FMCG sector
Moroccan B2B retail-tech startup, Z, just scored $1.5 million in seed funding to shake up the country’s FMCG supply chain.
The round was led by MNF Ventures (through its MNF II Fund) along with Witamax, Cash Plus Ventures, and Kalys Ventures jumping on board.
Founded in 2022 by Meriem Benabad, Samer Choumar, and Youssef Ait-Haddouch, Z runs a digital platform that connects manufacturers, distributors, and retailers. The goal? To make FMCG operations smoother and more accessible to consumers.
With 85% of Morocco’s FMCG sector driven by retail trade, Z isn’t just aiming for a piece of the pie—it’s looking to transform the entire ecosystem. Think a more connected, efficient, and inclusive supply chain.
So far, Z has served over 15,000 retailers and processed more than 800,000 orders. Impressive, right? Their secret? A mix of digital tools that tackle inefficiencies in how goods are produced, distributed, and delivered to customers, making life easier for businesses and end-users alike.
This fresh $1.5 million will be pumped into tech upgrades, market expansion, and future partnerships. Of course, it’s all pending a green light from Morocco’s Competition Council. Stay tuned!
In case you missed them
- Equator Africa Fund secures $5M from Proparco to scale African climate startups
- MTN eyes digital banking in South Africa as SARB open doors to non-bank players
- 1Vault wants to build the super app for small businesses in Africa
- How I rediscovered my groove after a work experience destroyed my self esteem
What I'm watching and reading
- The Creepy Line: Social media’s manipulation of society
- Celebrating Christmas: The Why, Who and How?
Opportunities
- Compete for a $1M prize at the Startup World Cup Semi-Finals in Sierra Leone, and connect with global investors. Apply here before December 20, 2024. Apply here.
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- Flutterwave is currently looking to fill several vacancies. Apply here.
- Moniepoint is hiring for several roles. Apply here.
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Have a terrific Tuesday!
Sunny Delight for Techpoint Africa.