Salam alaykum,
Victoria from Techpoint here,
Here's what I've got for you today:
- Solving the what-I-ordered vs what-I-got issue with blockchain
- Netflix adds18.9M subscribers in Q4 2024
- Social media platforms go dark in South Sudan
Solving the what-I-ordered vs what-I-got issue with blockchain
We’ve all seen the memes and stories on social media about the dreaded “what I ordered vs what I got” drama. Whether it’s the stunning dress that turns out to be a potato sack or the sleek furniture that arrives looking like a DIY nightmare, it’s funny until it happens to you. And for some, it’s more than just a laugh; it’s a real headache.
That’s exactly the kind of mess Ifeoluwa Wole-Osho set out to fix with Aje, a Nigerian social commerce platform powered by blockchain. The platform’s mission? To make sure both buyers and sellers end up happy—no surprises, no scams. And the name Aje? It’s not just catchy; it’s rooted in Yoruba culture, representing wealth and prosperity. Perfect for a marketplace where success and trust go hand-in-hand.
Wole-Osho’s inspiration came from a personal experience during his PhD in Turkey. As President of the African Students Union, he ran a WhatsApp group meant to help students connect. Unfortunately, it became the stage for a scam where seven students were duped into paying for a fake apartment. Wole-Osho wasn’t directly involved, but the situation landed him in a police station answering questions. That experience got him thinking: What if there was an escrow service to stop scams like this?
Escrow services aren’t new, but Wole-Osho wanted to take it further by adding blockchain to make the process more transparent and trustworthy. And that’s how Aje was born—a platform where you can buy, sell, and interact socially, with an extra layer of protection to ensure everyone gets exactly what they agreed on.
Curious about how Aje works and how it’s solving these problems? Check out Bolu’s story for all the details!
Netflix adds 18.9 million subscribers in Q4 2024
Netflix has been on a roll, adding 18.9 million new subscribers in the last quarter of 2024, pushing its global count to over 300 million. This surge is thanks to hits like the Jake Paul vs. Mike Tyson boxing match and the return of fan-favourite series like "Squid Game."
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This surge also contributed to quarterly revenue of $10.2 billion and annual profits reaching $8.7 billion.
To capitalise on this momentum, Netflix is bumping up its subscription prices in the United States, Canada, Portugal, and Argentina. In America, the ad-supported plan jumps from $6.99 to $7.99, the standard ad-free goes from $15.49 to $17.99, and the premium tier climbs from $22.99 to $24.99.
While Africa isn’t seeing another price increase yet, in 2024, Netflix hiked prices twice in countries like Nigeria. By July, the Premium plan hit ₦7,000 ($4.40), the Standard ₦5,500 ($3.46), the Basic ₦3,500 ($2.20), and the Mobile plan rose to ₦2,200 ($1.38). These increases came amid tough economic times, making many wonder about affordability.
Meanwhile, the jump in subscriber count has significantly boosted Netflix's stock value, with shares climbing over 14% in after-hours trading. The company's strategic focus on live events and a crackdown on password sharing have been instrumental in this growth.
What’s more, Netflix says these hikes help fund new content, with $18 billion earmarked for programming in 2025, including live events and original series. Interestingly, over 55% of recent sign-ups chose the ad-supported tier, showing a shift in viewing habits.
Looking ahead, Netflix projects revenues between $43.5 billion and $44.5 billion for 2025, aiming for a 29% operating margin. The company plans to discontinue quarterly subscriber reporting but will continue to share significant milestones.
Social media platforms go dark in South Sudan
South Sudan’s National Communication Authority (NCA) dropped some heavy news: starting midnight on January 22, 2025, all social media platforms in the country will go dark for 30 days. Yep, no Facebook, TikTok, or any of that.
Why? The government says it’s trying to stop violent content from spreading online after unrest in neighbouring Sudan spilled over. According to the directive sent to Internet Service Providers (ISPs), the shutdown is all about protecting public safety and mental health — especially for vulnerable groups like women and kids.
This all ties back to a surge in violence between South Sudanese and Sudanese nationals. It started with reports of Sudanese forces killing 29 South Sudanese people during a fight to recapture Wad Madani city from the Rapid Support Forces (RSF).
In response, South Sudanese youths attacked Sudanese-owned businesses and homes in Juba, leading to at least three deaths and several injuries. Things got so bad that the government slapped a nationwide curfew from 6 pm to 6 am.
Now, they’re turning to social media blackouts, leaning on sections of the National Communication Act of 2012 to justify it. But while the government says this move is about keeping the peace, it’s not without consequences.
Internet and social media shutdowns are costly — Africa reportedly lost $1.5 billion to them in 2024 alone. Sudan alone accounted for $1.2 billion of that during its prolonged conflict, and Ethiopia also spent billions shutting down platforms like Facebook, Telegram, and TikTok to manage religious tensions.
Whether this blackout will actually help or hurt in the long run is up for debate, but for now, South Sudan is pressing pause on social media.
In case you missed them
- Why a localised approach could be the key to unlocking Africa's cloud potential
- Nigeria’s consumer protection commission demands improved customer service from telcos after tariff hike
- Borrowings from Nigeria’s central bank rose by ₦13.31 trillion in 2024 amid liquidity challenges
What I'm watching
- Something Good About Every Evil Person
- Epigenetics: Can we change our genes? - BBC World Service
Opportunities
- Fast Forward Livestock Innovation Lab, in partnership with GIZ-SAIS, offers innovators the chance to turn their prototypes into commercially viable solutions for the livestock value chain, with up to ₦10 million in funding, expert mentorship, and guidance from an Entrepreneur-in-Residence. Apply here.
- The World Health Organization (WHO) is recruiting suitably qualified candidates to fill several roles. Apply here.
- Glovo is looking to fill certain roles in Nigeria, Kenya, Uganda and Morocco. Apply here.
- Kuda is looking to fill different roles. Apply here.
- Paystack is hiring for several roles. Apply here.
- Techpoint Africa is hiring a Market Research and Innovation Analyst. Apply here.
- Moniepoint is hiring for several roles. Apply here.
- Celebrate the New Year with delightful stories like Smart Couples. Call 421 on your Airtel line now — you won't be charged! Alternatively, call 07080601391 at your network's regular rate. Learn more 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 superb Thursday!
Victoria Fakiya for Techpoint Africa.