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Future Africa Job Opening: Investment Associate

Mena Adediran
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Future Africa Job Opening: Investment Associate

About Future Africa 

Future Africa is an early-stage venture fund that connects investors to mission-driven founders who are turning Africa’s most difficult challenges into global businesses. Our mission is to fund a future where purpose and prosperity are within everyone’s reach.

We have 50+ portfolio companies with $20M USD under management including Andela and Flutterwave. Our fund is backed by the founders of Andela, Paystack, Jumpbike, and investors at Local Globe. If this sounds exciting to you, we should probably talk about working together.

Role: Investment Associate

Full-time, Fully Remote

Entry Level

Job Requirements 

  • Taking initiative, never waiting to be told what to do
  • 1-3 years work experience in a previous role in venture capital, startups, or financial services operations
  • A demonstrable passion for African startups and the technology sector
  • Ability to work remotely with fast wifi
  • Minimum 5+ hours overlap with WAT business hours

Responsibilities 

In this role, you’ll often find yourself…

  • Managing deal sourcing and pipeline-filtering applications, setting up meetings, communicating with founders throughout the process
  • Evaluating opportunities, conducting diligence, and working with portfolio companies to close transactions
  • Keeping meticulous, trackable records of fund operations and fund administration
  • Working with teams and service providers to set up approved deals, send them out, and close them
  • Tracking relevant trends and conducting in-depth market research and analysis
  • Supporting founders in and outside of the portfolio
  • Ideating on and providing feedback and insights into our investment theses

Prior Experience 

This role could be perfect for you if…

  • You’re an International Investment Professional
  • You love capital management and using investment for creating a better future. You’ve worked in multiple countries, for multiple startups, and/or studied at multiple universities and you’ve translated that experience into analyzing and driving deals.
  • You’re a Creative Financial Concierge
  • You love working with founders and matchmaking opportunities. You turn relationships into deal pipelines and make sure everyone has the right information at the right time.
  • You’re an Investment Industry Change Tracker
  • You’re consummately curious about how the industry is changing. You follow all the best and most trusted sources of information and thought leaders. And you share your knowledge to help make your organization and the industry better.

Application Deadline 

For priority consideration, please apply by 19 November 2021.

Apply for this job here.

AURA Raises $4M Series A Funding Round in SA for Security Startup

Boluwatife Aponmade
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AURA Raises $4M Series A Funding Round in SA for Security Startup

AURA, a South African security and medical response firm has raised $4 million in a Series A round of funding to support its global expansion plans.

AURA is a marketplace startup that allows anyone to access the nearest approved private and public medical and security response unit to their location, with the aid of a connected device.

Co-founder of AURA, Warren Myers said “South Africa has one of the most advanced private security and emergency response industries which has the capacity to ensure safety to a greater number of people who might not currently have access to it”.

The new startup, AURA is already leading the marketplace of its kind in South Africa, having over 400,00o active users on its network. AURA expanded into East Africa and the United Kingdom (UK) at the beginning of this year, it is planning to further grow after banking its series A round that was led by Multichoice Group (MCG), Buffet Investments and KLT Holdings.

Another co-founder Ryan Green said “We are gearing some of the funding towards hiring top talent to head up each new region while growing teams in established regions- especially our tech team. The result is stronger relationships and value propositions for suppliers at all levels in the marketplace.

The CEO of Multichoice Group, Calva Mawela also spoke, where he said that the addition of value-added services for customers will hasten the evolution of the ecosystem.

“We are investing in scalable and innovative technology platforms like AURA. Not only does it strengthen our service offering and enhances long-term value creation for shareholders, but it also drives economic development and job creation,” he had said.

Paratus in Fibre Internet Deal for Namibia’s First Smart City, Ongos Valley

Yeseerah Lawal
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Paratus in Fibre Internet Deal for Namibia’s First Smart City, Ongos Valley

Ongos Connect, a firm working with Ongos Valley, Namibia’s first smart city development project, has chosen Paratus Namibia, a subsidiary of Pan-African telecommunications company, to offer fiber access to over 11,000 new residents in the new city.

If you’re curious, the fiber internet is the most recent advancement in the way data is transmitted throughout the world. It’s much quicker than cable and much faster than dial-up, and it can carry a lot of data over a single line, easily exceeding multiple terabytes of data transfer.

According to the IT News Africa website, the agreement marks the end of a two-year planning process in which Paratus worked on constructing the infrastructure needed to offer households fiber connectivity. Residents of the Ongos Valley will receive 1 GB of free data per month for the first five years of their residency as part of the arrangement.

Ongos Valley is a long-term investment in an urban and sustainably managed environment driven by green and solar energy, where technology and data inform the effective management of resources and assets. It is located in Namibia’s north-western corridor, not far from Windhoek.

Every home and business will have access to fiber connectivity. Services will be integrated so that they can be managed at the most efficient and cost-effective levels for everyone.

The Ongos Valley project’s first phase entails the construction of approximately 4,500 dwellings and accompanying infrastructure. Another 24,000 residences, 21 schools, parkways, greenways, and commercial centers will be built in the next phases.

Africa Health Holdings, a Healthcare Firm, Has Raised $18 Million in a Series A Funding

Sopuruchukwu Elizabeth Mba
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Africa health holdings, a startup healthcare company has raised $18 million in Series A funding which is tailored towards raising a technology onward healthcare system in Kenya, Ghana, and Nigeria.

Continue

Africa Tech Summit London 2021

Ahmadu Sulaiman
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Africa Tech Summit London 2021

The Africa Tech Summit London is an event where Africa Tech leaders connect, network, and share productive ideas. The 2021 summit is the 5th edition and is slated to hold n December 18th, 2021, at the London Stock Exchange.

The 2021 summit will focus on African Tech and investment across the continent will once again provide unrivalled insight, exclusive networking and business opportunities for tech leaders and investors at the fifth edition of Africa Tech Summit London at the London Stock Exchange.

The 2021 Africa Tech Summit Agenda

  1. Market Opening – London Stock Exchange
  2. Invitation Only (08.00)
  3. Registration and Networking (08.15)
  4. Remarks
    by Neanda Salvaterra – Agenda (08.55)
  5. Andrew Fassnidge – Africa Tech Summit
    Gokul Mani – London Stock Exchange (09.00)
  6. PathwaysTo Funding & Monetization – Charting The Course of Funding, Exits and M&A
    Gokul Mani – London Stock Exchange
    Kola Aina – Ventures Platform
    Noor Sweid – Global Ventures
    Eghosa Omoigui – Echo VC (09.30)
  7. Networking Break (10.20)
  8. Mobile& Digital Economy – Unpacking The Latest Trends on Connectivity, Content and Talent
    Addy Awofisayo – Head of Music, Sub-Saharan Africa -YouTube
    Emmanuel Lubanzadio – Head of Public Policy, Sub-Saharan Africa -Twitter
    Kojo Boakye – Head of Connectivity and Access Policy for Africa – META
    Mahlet Tamene – CFO – Gebeya Inc (11.10)
  9. Payments in Africa – The Billion(s) Dollar Battlefield
    Akshay Grover – Group CEO – Cellulant
    Elizabeth Rossiello – CEO & Founder – AZA Finance
    Andrew Takyi-Appiah – Co-founder & MD Zeepay (11.55)
  10. VC Lift Off – Unpacking The Explosive Growth Of Activity & Investment Outlook
    Ido Sum – Partner TLcom Capital
    Ope Sule – Business Development Manager Africa – London Stock Exchange (12.30)
  11. Networking Lunch (13.05)
  12. Roundtable– Scaling Africa Fintech for Global Success
    Hosted by Cellulant – Forum Room (14.05)
  13. DeFi for Africa – The Future of Decentralised Finance & Crypto Across The Continent
    Carmelle Cadet – Chief Executive Officer/Founder – Emtech
    Chris Ostrowski – Global Head of Public Sector Engagement – cLabs (14.05)
  14. Embedded Finance & InsurTech – Meet The Game Changers Digitising Insurance In Africa
    Jihan Abass – Founder & CEO of Lami
    Henry Mascot – Co-Founder & CEO Curacel (14.05)
  15. NetworkingBreak (15.10)
    19. The Role of Fintech’s In Developing An Inclusive Digital Economy
    Hosted by Ghana Fintech and Payments Association – Forum Room (15.40)
  16. The Last Mile – Delivering Africa’s Digital Commerce Boom
    Tega Iortim – CEO & Founder- Gricd
    Omar Hagrass – CEO & Co-Founder – Trella (15.40)
  17. Closing Remarks
    by LSE & Africa Tech Summit (17.00)
    ATS Networking Drinks Reception.

Some of the speakers are below

  1. Fope Adelowo
    Senior VP, Investment Team Helios
  2. Akshay Grover
    Group CEO Cellulant
  3. Omar Hagrass
    CEO & Co-Founder Trella
  4. Martin Kwame Awagah
    Director ACMS
  5. Carmelle Cadet
    Chief Executive Officer/Founder Emtech
  6. Odunayo Eweniyi
    Co-Founder & COO PiggyVest
  7. Elizabeth Rossiello
    CEO & Founder AZA Finance
  8. Henry Mascot
    Co-Founder & CEO Curacel

Also, the summit will be supported with the collaboration of some companies. The names of the company are M-kOPA, Cellulant, Zeepay, Curacel, Gricd, Gebeya among others.

 

To attend this event, click on the link

ttps://www.africatechsummit.com/london/register/

 

ZTE South Africa Fined R5-Million for ‘Cartel Conduct’ Case

Yeseerah Lawal
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ZTE South Africa Fined R5-Million for ‘Cartel Conduct’ Case

ZTE has agreed to pay R5 million in a settlement agreement with the Competition Commission over “cartel behavior” in South Africa, the commission announced on Tuesday.

The commission accused the Chinese telecoms and electronics firms of working together to distort and divide markets. 

ZTE has “agreed to abstain from engaging in any banned practice of anti-competitive action in violation of the Competition Act in the future,” according to the commission. It will also establish an internal competition law compliance program.

“Having agreed to the settlement agreement’s provisions, ZTE South Africa does not accept responsibility for the behavior alleged by the commission.”

“The commission has agreed to enter into the settlement agreement with ZTE South Africa without an admission of liability, based on many factors, interpret with the remedies contained in the consent agreement, including the fact that ZTE South Africa has not previously been found guilty of contravening the act,” according to the regulator.

The Competition Commission inspected ZTE China, ZTE Hong Kong, ZTE South Africa, and ZTE Mzansi in 2013 for allegedly “allocating clients in the market for the sale of telecom equipment and network solutions in South Africa.”

“In 2011, ZTE South Africa and ZTE Mzansi decided to split markets by allocating clients between themselves,” according to the commission.

According to the commission, “the parties agreed to split the market, with ZTE Mzansi distributing telecoms equipment and network solutions to government clients and ZTE South Africa distributing equivalent things to private sector customers.” 

“Section (4)(1)(b)(ii) of the act was allegedly breached.” said the commission.  

 

Crypto Valley Venture Capital Initiates African Investment Strategy To Build Blockchain Accelerator For Africa

Boluwatife Aponmade
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Crypto Valley Venture Capital Initiates African Investment Strategy To Build Blockchain Accelerator For Africa

CV VC (Crypto Valley Venture Capital) has launched an African investment strategy plan to purchase a blockchain accelerator for the continent. Crypto Valley Venture Capital invests in blockchain’s applicability to solving problems and creating new markets asides from crypto.

The new program is one that was launched, preceding CV VC’s public-private partnership with the Swiss State Secretariat for Economic Affairs (SECO), which is intended to see CV VC build their first blockchain-focused Accelerator for Africa. The aim of the accelerator is to focus on startups such as healthcare, Fintech, Supply Chain, Government sectors.

Deputy Head of Mission, Switzerland Embassy in South Africa, Veronique Haller commented on the initiative, where he said, “Since 15 years, Switzerland and South Africa have been enjoying an intense collaboration in education, research, and innovation. The first exchange between actors from both countries using blockchain solutions to tackle real-world issues was initiated in 2019. Switzerland, through its State Secretariat for Economic Affairs (SECO), is funding the blockchain…’’

In furtherance to that, SERI (Swiss State Secretariat for Education Research and Innovation) and the South African Department of Science and Innovation are pursuing research instruments for joint projects, research chair, and academia exchange as part of the blockchain ecosystem.

CV VC partnered with Binance Smart Chain, University of Johannesburg, and The cape Initiative. CV VC and the start-ups will travel to Cape Town and Johannesburg to spend a week with its new batch of incubates, working together.

Bitcoin Turns Bearish, Losing Over $2,500 In Value Within A Day

Abidemi Ogunyemi-Aderibigbe
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Bitcoin Turns Bearish, Losing Over $2,500 In Value Within A Day

Following the major upgrade of the BTC network through the rollout of the long-awaited Taproot update which improves both privacy and security, bitcoin turns bearish.

The cryptocurrency has plunged by over 6 percent in the last 24 hours to below $61,000 on the morning of Tuesday, 16th of November. Other leading cryptocurrencies, including Ethereum (ether), Solana (SOL), and Cardano (ADA), as well as the meme coins dogecoin and shiba inu, have also had value drop in the last 24hrs.

Though, as bitcoin turns bearish, the price is yet to dip below $60,000 however, Bitcoin must stay over the $60,000 support level. If the coin crashes below the $60K mark, the bearish pattern may stay longer than expected.

Presently, social media is filled with hot takes by analysts and market commentators on the cause of the crypto price crash. Glen Goodman, Market analyst, and cryptocurrency author believes the latest dip is caused by “excessive optimism”.

He tweets: “Corrections last as long as it takes for most traders to start losing hope and stop buying dips.”

There hasn’t been one tangible reason for this price crash, with several factors potentially coming into play. At the end of last week, there was a rejection of the spot bitcoin ETF by the SEC, though that had little impact on the market at the time and there are more in the pipeline.

China also tightened restrictions on cryptocurrency mining, though the crackdown as at earlier this year means the number of operations left in the country is negligible.

Finally, there is a high possibility that long-term holders of BTC are taking the advantage of the recent all-time high to skim off profits from their stash.

The fall in price also brings out the panic sellers, these are traders who are typically new to cryptocurrency investment and prone to being spooked by sudden market variations.

BTC is currently trading at around $60,500, the next few hours or days will prove crucial to see whether the recovery will be properly maintained.

As it is a norm following a sudden fall in price, staunchest BTC advocates and optimistic bulls are celebrating the opportunity to “buy the dip” and stock up on BTC while its price is relatively cheap – at least compared to the week before.

Africa’s First CBDC Wallet Hits Almost 500k Downloads

Abidemi Ogunyemi-Aderibigbe
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Africa’s First CBDC Wallet Hits Almost 500k Downloads

CBDC (Central Bank Digital Currency) is an electronic or digital token of a country’s currency that often has blockchain at its core regulated by the nation’s monetary authority or central bank.

As of the moment, all over the world, 12 countries are piloting CBDCs, out of ​​which seven countries focus on retail CBDC, and the other five countries focus on wholesale. Africa continent is rapidly adopting retail digital currency technology while Nigeria, Ghana, South Africa, and Tunisia are all piloting CBDCs.

Nigeria with a population of 213 million is the most populous in Africa and the first on the continent to launch a CBDC project (eNaira). After the launch of eNaira on the 25th of Oct. 2021, news has been making rounds that about 17,00 transactions totaling N62million (US$151,170) have already taken place.

The Central Bank of Nigeria on Friday announced that in just 19 days after the launch of the Central Bank Digital Currency, it is picking up steam across the globe as the digital wallet for its own currency, the eNaira has 488,000 downloads in 160 countries across the globe.

In February, Nigeria put a ban on cryptocurrency trading through banks as CBN cites concerns of volatility posing risk to local investors. A report from Statista showed that Nigeria led the world in crypto adoption per capita, with 32% of respondents owning crypto assets in 2020.

However, the digital wallet (eNaira) seems to have relived the effect of the ban on many crypto traders in the country.

The eNaira is expected to roll out in three phases;

Firstly, the CBN takes responsibility for the issuance, distribution, redemption, and destruction of the currency, while it monitors the data stored on a cloud server.

Secondly, financial institutions can request the ability to issue stable coins.

While in the third phase, the Nigerian government will process its own digital payments between citizens and businesses.

Apply for Senior Back-end Engineer at OLX Group

Hassan Barakat
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Apply for Senior Back-end Engineer at OLX Group

OLX Group is looking for an experienced Back-end developer to join their team. You will be responsible for the server side of our web applications. If you have excellent programming skills and a passion for developing applications or improving existing ones, the team would like to meet you.

As a Back-end developer, you’ll work closely with our engineers to ensure system consistency and improve user experience. Ultimately, you should be able to develop and maintain functional and stable web applications to meet our company’s needs.

Requirements

What will you be doing?

  • Hit the ground running – Gather up-to-date and in-depth understanding of the OLX MENA code base and technologies stack within weeks;
  • Actively participate in planning sessions around new product features, deliver detailed roll-out and roll-back strategies for releases;
  • Research and apply industry trends as part of your daily work;
  • Create unit tests in accordance with our established standards to cover assigned work;
  • Write and maintain exemplary code by following best programming practices;
  • Actively contribute in post-release maintenance issues;
  • Develop elegant solutions for complex problems;
  • Pioneer reliability and efficiency of our current code base, platforms and/or core systems;
  • Impact on the direction and scope of OLX’s technical vision within your stream;
  • Contribute in defining the architecture of your product steam;
  • Gain a detailed understanding of the complete architecture of our product and the position of your product stream in it;
  • Participate in peer-programming sessions and provide guidance on tasks, irrespective of complexity or scale;
  • Code review all major pull requests, defining programming standards and providing constructive feedback;
  • Provide and share a broad knowledge of technologies and architectures and function as a mentor within the scope of your product stream and outside of it when required;
  • Capacity to push back requirements when incomplete;
  • Ability to handle the entire software development end to end life cycle;
  • Liaise with the other back end engineers within your product stream, QA team, design team and your Tech Team Lead;
  • Liaise with other tech teams to share innovations from your stream;

Who they are looking for?

  • 5+ years of professional back-end software engineering experience;
  • Experience working on high-traffic and large-scale web products;
  • Experience with web infrastructure, distributed systems, performance analysis and search infrastructure;
  • Driven to gain insight into different new and old technologies;
  • Been on at least one “death march” and know exactly why some things are to be avoided;
  • 5+ years of experience in analysis, design, coding and implementation of next generation web applications in PHP;
  • 2+ years of experience in API based architectures e.g. SOA;
  • Ability to prioritize tasks and quickly and adjust in a rapidly changing environment;
  • Maintain and ensure optimal software quality within the assigned product;
  • Being actively involved in forming a product vertical team of excellent back end engineers that deliver high-quality code;
  • Passionate about making a difference, a self-starter who takes initiatives and follows through them;

To apply

Visit this website

 

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