Ghana to launch music streaming platform by November

Bonjour,

Victoria from Techpoint here,

Here’s what I’ve got for you today:

Ghana’s Spotify killer launches November
Crypto goes mobile in West and Central Africa
Meta’s workforce: Leaner and meaner?

Story 1:

Ghana to launch a music streaming platform by November

Ghana’s music scene is about to make some waves with the upcoming launch of its first-ever local music streaming platform, announced by Vice President Dr. Mahamudu Bawumia.

Set to roll out in November 2024, this platform is all about giving Ghanaian artists the chance to actually earn a fair buck for their hard work, especially since foreign platforms like Spotify often don’t cut it.

Now, why should you care about this? Well, the music industry in Ghana is on the brink of some serious growth. Did you know the recorded music market in sub-Saharan Africa grew by a whopping 24.7% in 2023? A lot of that is thanks to streaming revenue.

South Africa is still the biggest market in the region, making up 77.0% of regional revenues with a growth of 19.9%. Meanwhile, Ghana’s slice of the pie is pretty small compared to its neighbour Nigeria.

The Nigerian music industry is a heavyweight, raking in about $39 billion and getting huge global recognition. Platforms like Audiomack and Boomplay are doing a fantastic job of focusing on local artists, catering to what regional listeners want.

Ghana, on the other hand, has been lagging. While the country’s music scene is vibrant, it lacks a dedicated platform that can lift local talent. The way things stand now, international platforms often leave Ghanaian artists with just a tiny slice of the pie.

Dr Bawumia’s new initiative aims to fix that by providing a proper catalogue and a system for tracking royalties, which are essential for artistes to make a living.

But let’s keep it real—while the new platform is promising, it still will face challenges like monetisation and user acquisition. If you ask me, Nigeria’s music success is all about strong marketing and a loyal fan base, so Ghana’s platform will need to capture that same vibe. What do you think?

Crypto goes mobile in West and Central Africa

Binance just made a move in West and Central Africa by introducing mobile money payments for crypto purchases.

Users in countries like Benin, Cameroon, Ivory Coast, DRC, Togo, and Senegal can now purchase crypto directly using mobile money, thanks to some local partnerships. This makes it easier for people in these regions to jump into the world of crypto.

Currently, users can only purchase crypto with this new feature, but it’s a huge step forward for new users wanting to get started.

Two months ago, Binance launched a similar feature in Ghana, Tanzania, Uganda, and Zambia, allowing people to trade crypto using mobile money. The “One Click B*uy and Sell” option is designed to make purchasing and selling crypto super easy right from your phone.

Binance has emphasised that it’s still keeping things secure with strict KYC protocols and security measures. They’re on a mission to make crypto more accessible and bring more people into the digital economy.

If you’re in one of the supported countries and want to try it out, it’s pretty simple. Just log in to the Binance app, go to the [Add Funds] option, choose your local currency, and follow the steps to purchase crypto.

While Binance is expanding across Africa, it’s also dealing with some challenges in Nigeria. Since February, two of its executives have faced legal issues involving money laundering and tax evasion.

And back in March, Binance stopped supporting naira deposits and withdrawals, which is affecting its Nigerian operations.

Meta’s workforce: Leaner and meaner?

Meta is shaking things up again, and this time it means some employees are getting the chop across departments like WhatsApp, Instagram, and Reality Labs.

Instead of a big, company-wide layoff, these cuts are more like smaller adjustments as teams reorganise. A few Meta employees have taken to social media to share that they’ve been laid off.

Word on the streets is that some teams are making changes to better align their resources with long-term goals and location strategy. They’re moving some teams around and shifting employees into different roles.

If a position is cut, they’re doing their best to find those people new opportunities within the company.

It looks like Meta’s got some more changes on the horizon, and it’s all about downsizing. In August 2024, they announced plans to cut back on their office space in Lagos, shifting to desk-sharing for employees who aren’t in the office much. It’s all part of their strategy to reduce their real estate footprint.

While it’s not certain whether these new cuts will affect employees in Africa, this move comes on the heels of a pretty rough time for Meta.

In April 2023, they laid off around 4,000 employees across various technical teams, including those working on Facebook, Instagram, Reality Labs, and WhatsApp.

This mass layoff followed CEO Mark Zuckerberg’s earlier announcement in February 2023, where he revealed that the company would be cutting another 10,000 jobs in the following months. Remember, they first let go of 11,000 employees in November 2022 as part of their efforts to streamline operations.

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Opportunities

Spiralyse is hiring a frontend developer. Apply here.
An organisation is hiring a virtual assistant. Apply here.
Flutterwave is hiring for several roles in Nigeria, Malawi, Egypt, and South Africa. Apply here.
Paystack is hiring for several roles in Nigeria and Ghana. Apply here.
Moniepoint is recruiting for several roles in Lagos and remotely. Apply here.
Briter Bridges is hiring for several roles in Nigeria, Kenya, and London. Apply here.
Kuda is looking for a Product Manager. Apply here.
Kuda is hiring a Senior IOS Engineer. Apply here.
Meta is hiring software engineers here.
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