Takealot has lost 80% of its revenue since March

IFC to invest up to $20 million in North African fund [View this email in your browser]( TOGETHER WITH FLUTTERWAVE AND FLIQPAY 16 - 04 - 2020 Hi, there! Welcome to today's edition of TC Daily! If this mail was forwarded to you, please take a moment to [subscribe](. Also, join our community on [Telegram](. Shopping in store is a little more high stakes than it used to be. Spar Nigeria, a full-service supermarket has transitioned online to make it easier for you to get your necessities, thanks to Flutterwave. [Order online]( pay securely with Flutterwave and get your groceries delivered to you. Education has been one of the biggest casualties of the COVID-19 pandemic as schools have been forced to shut down. Naturally, 21st-century thinking is students should switch to digital platforms and continue learning on their smartphones. A number of edtech startups, as well as schools and governments, have rolled out alternative learning solutions. Most solutions are available on smartphones, while others use TV and radio to reach students. Last month, [TechCabal's Muyiwa wrote]( about how some teachers are using online tools to teach students. Unfortunately, many parts of Africa have infrastructural and, interestingly, cultural issues that discourage learning on smartphones. For a long time, schools and teachers (sometimes even university lecturers) frown against students using devices in class. They see it as a sort of distraction to learning. Rarely do you find students who use their laptops in class while a lecturer is teaching. “Then overnight they suggest that students turn to those same devices to continue learning?” one [Zimbabwean blogger asked](. In that country, following the pandemic, the government asked universities and other schools to develop online learning materials for students. In reaction, the Zimbabwe National Students Union (ZINASU) has [issued a “total rejection”]( of this plan, saying the cost and infrastructure challenges do not support it. Recently, [Kay Ugwuede wrote]( about these infrastructural challenges and how edtech companies are solving them. [Owen Odia]( is the Nigeria country manager for Luno, the cryptocurrency. She started her career at the marketing department at Zenith Bank before going abroad for her Master’s in Mobile computing. After her Master’s, she led Zenith Bank’s newly launched mobile money operation EaZyMoney in 2012. After almost a decade at the bank, she joined Luno, confident that she wants to be part of the cryptocurrency revolution. In this article, [she talks to Kay Ugwuede]( about her life in tech. South African ecommerce company, [Takealot says]( its revenue has crashed up to 80% over the last few days. The country is under lockdown and online retailers are restricted from delivering orders of non-essential products. “We’ve become largely a face mask and hand sanitizer business,” Kim Reid, CEO of Takealot told TechCentral in a video interview. The company has said it will not lay off workers, but is unclear how long that policy will last. The original lockdown, which Reid says was sudden, was supposed to last 21 days. It has now been extended by two weeks. Reid believes it would be “insane” for the government not to reopen ecommerce after the new extension or at least relax the restrictions. Cryptocurrency payments gateway, Fliqpay has partnered with the Iranwo Foundation to feed 1,000 low-income families in self-isolation during this COVID19 period. The partnership will make it possible for Nigerians in Diaspora and people around the world to donate in Bitcoin and other cryptocurrencies. [Find out more](. Google News Initiative has created a [Journalism Emergency Relief Fund]( to support newsrooms across the world as the economic effects of the pandemic have affected their revenues. The Initiative will grant “low thousands of dollars for small hyper-local newsrooms to low tens of thousands for larger newsrooms, with variations per region.” [Applications opened]( yesterday, April 15 and will remain open for two weeks (April 29). As Coronavirus cases continue to grow in Africa, Zikoko, our Sister publication under Big Cabal Media, has put together a microsite — [coronafacts.africa]( — that provides accurate information and free downloadable resources for the general public to help understand and keep up with the Coronavirus pandemic. Visit [( to check it out. As part of our work to provide insight and thoughtful guidance to the industry in this tough and unprecedented period, TechCabal is hosting a short series of virtual interviews on the theme of "Building in Tough Times." The series will feature experienced founders, investors and other major stakeholders. The first edition will hold on Friday, April 17 at 11 am with serial entrepreneur, Sim Shagaya, CEO, uLesson. Limited slots are available. [Click here to register.]( The International Finance Corporation (IFC) is [investing up to $20 million SPE AIF I]( a private equity fund focused on North Africa. The $200 million SPE AIF I fund is managed by SPE Capital and was closed in 2019. The IFC says the fund will support fast-growing small and medium-sized businesses in Egypt, Morocco and Tunisia. This is part of a broader trend in the [African investment environment](. Over the last two years, a number of Africa-focused PE funds have emerged to support small and mid-cap companies, including startups, on the continent. [Druve]( a Nigeria-based adtech startup has raised $20,000 seed funding from angel investors. Druve is an advertising technology provider for WhatsApp. The seed round is part of a larger $50,000 round it plans to close in June this year. That's all, We'll see you tomorrow. - Abubakar Have you shared TC Daily with your contacts? [Share]( [Share]( [Tweet]( [Tweet]( [Forward]( [Forward]( Copyright © 2020 Big Cabal Media, All rights reserved. You are receiving this email because you signed up on TechCabal.com Our mailing address is: Big Cabal Media 18, Nnobi Street, Animashaun, Surulere, LagosSurulere 100001 Nigeria [Add us to your address book]( Want to change how you receive these emails? You can [update your preferences]( or [unsubscribe from this list](.