Wow! You’ve come a long way and I’m glad you’re here reading the final Techpoint Digest of the year.
We will be in a new year in less than two days. While I don’t think anything will change, I do enjoy the excitement of setting goals for the new year and seeing the “new year, new me” trend. It’s fun, don’t you think?
Anyway, how was 2022, or has it been? For me, it was a year of learning the hard way.
I’m sorry I had to, but it happened, and I won’t make the same mistakes again. 😭😭 I also lost money and people. So, 2022 was “a lot”.
But I’m glad I got my diagnosis this year because it has allowed me to be more productive. All thanks to Techpoint AfricaI have developed some coping mechanisms! They have been helpful and it is amazing to work with such an organization.
Of course, greetings to you, my amazing reader. She couldn’t have made it this far without you. Thanks for reading and sharing with friends, family and haters. 😂
Most importantly, I need your suggestions on how to improve Techpoint Digest for next year. So what do you want to see that you haven’t seen before? What fun games should I include? What other ideas do you have to make this newsletter more interesting?
Dear reader, I can’t wait to see you in 2023! 😂😉❤💃🤗 I don’t know if my newsletter will arrive on Monday, but if it doesn’t arrive on Tuesday. I love you. I know we can do a lot more in 2023.
Don’t forget to tell me how it went in 2022 by clicking the reply button.
This is what I have for you today:
- What does 2023 hold for the African tech ecosystem?
- Nigerian Senate asks CBN to postpone deadline to withdraw old naira notes
What does 2023 hold for the African tech ecosystem?
I would agree that 2021 was a huge year for the African tech ecosystem; there were more funding rounds disclosed than we could follow.
Slowed down by travel restrictions caused by COVID-related lockdowns in 2020, it seemed investors were looking to make up lost ground in 2021.
The result was record investments in African start-ups. With the turn of the year, many expected that trend to continue, and early signs suggested that this would be the case, with Africa the only region unaffected by the global VC recession.
According to data from various sources, startups on the mainland received more than $4 billion in investment in 2021, which is more than double the investments in 2020.
Many expected the trend to continue into 2022. Early signs suggested that it would, with Africa the only region unaffected by the global VC recession.
Yet few predicted the global economic crisis, and while it was not immediately apparent, it is now clear that African start-ups were equally affected.
As the year comes to a close and preparations for 2023 begin, Techpoint Africa He spoke to a few investors to get their thoughts and predictions on what the investment and startup landscape would look like next year.
Uwem Uwemakpan, vice president of fund operations at Ingressive Capital, said only a few people anticipated the impact of the global economic downturn on fundraising. He expressed disappointment with policies that hurt entrepreneurs and slowed down innovation in certain sectors.
For example, the Central Bank of Nigeria (CBN) has ordered all banks to stop facilitating transactions for cryptocurrency companies.
They also shared which industries will see renewed interest. You can read it here: From the ongoing capital crunch to the IT talent shortage, what does 2023 hold for African startups?
You can also watch it here: Five African startup investors share their expectations for 2023
Nigerian Senate asks CBN to postpone deadline to withdraw old naira notes
The Nigerian Senate has asked the Central Bank of Nigeria (CBN) to postpone the deadline to withdraw the old naira notes from January 31, 2023 to June 30, 2023.
According to Senator Aliyu Wammako, “time must be extended to allow each Nigerian to play their own role. He seconded that this withdrawal date be extended to June 30, 2023.”
Timeline of events: In October 2022, the main bank initially planned to introduce the redesigned ₦200, ₦500 and ₦1000 banknotes from December 15, 2022. However, it began issuance on November 23, 2022.
But how many of you have seen the new notes? I have not done it
Sidebar: A few days ago, Techpoint Africa The intelligence arm, Intelligence by Techpoint Africa, created a Twitter poll asking if it has seen the newly redesigned notes. you can vote here.
Getting back to the backstory: On December 6, 2022, the CBN introduced new withdrawal limits that took effect from January 9, 2023, with individuals withdrawing ₦100,000 ($135) and ₦500,000 ($676 ) per week without a prescription, Point of Sale (PoS) or ATMs.
However, on December 23, 2022, he revised the limit. The new weekly withdrawal limit is now ₦500,000 ($676) for individuals and ₦10 million ($22,423) for organizations.
What I’m reading and watching
- Misk Entrepreneurship partnered with Plug and Play to launch the fourth cohort of Misk Accelerator 2023, where 20 startups will participate in the 12-week hybrid program. Apply here.
- The New York Times is looking for a Researcher/Reporter in Dakar, Senegal. Apply here.
- Are you a member of the corps in Nigeria? Polaris Bank’s DigiCorper 2023 program is open. To learn data science, product management, product design, backend or frontend software development, or basic literacy skills, sign up here.
- The Eswatini Communications Commission (ESCCOM) has initiated a Girls in ICT Development Programme, aimed at young women interested in pursuing a profession related to Information, Communications and Technology (ICT). To apply, check this out.
- The United Nations is seeking an Associate Program Management Officer. Apply here.
Enjoy the last days of 2022.
victoria fakiya for Techpoint Africa.