Tech giant, Google has admitted the Class 4 of its annual programme tagged Google Launchpad Accelerator Africa. The class will hold in Lagos with 12 startups selected across Africa.
The head of Startup Success and Services at Google Launchpad Accelerator Class 4, Fola Olatunji-David, while speaking about the programme said that the startups were selected from six countries and six sectors. He made it known that just like the previous class, the programme is aimed at building success.
“We continue to be impressed by the quality of startups that apply to the Launchpad Accelerator Africa programme, Class 4 is no exception and we expect them to build on the successes of the previous three classes.”
[READ MORE: How To Run A Successful Virtual Startup Office]
Why this matters: Since Google started the initiative, it has helped startups develop while also putting them on the limelight for possible funding and investments in millions of dollars. Google has also made job opportunities available for young people all over Africa.
About the startups: According to Olatunji-David, Class 4 comprises 12 startups from 6 African countries – Nigeria, Ghana, Kenya, Zimbabwe, South Africa, and Uganda. The startups are:
- Afara Partners (Nigeria);
- BrandBook (South Africa);
- Elewa (Kenya);
- Eversend (Uganda) ;
- OZE (Ghana);
- Phenomenal Technologies (Zimbabwe) ;
- REACH (Nigeria);
- Sortd (South Africa);
- TradeBuza (Nigeria);
- Tulaa (Kenya);
- XEND (Nigeria); and
- WorkPay (Kenya).
Google said the new intakes would address some big challenges, including access to financial services, education, and agriculture. It also said they had collectively earned in excess of $600, 000 in revenue over the past six months.
How the startups were selected: The selected startups represent those using technology to create positive impacts in key industries in their regions. The applications from different startups were sent between Friday, June 21, 2019, and Friday, July 26, 2019.
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What you should know: The Google Launchpad Accelerator Africa was first announced in July 2017. It is one of Google’s initiatives that aim to support the African entrepreneurial ecosystem.
Senate calls for the liberalization of cement policy to crash the price of the commodity
The Senate also tasked the FG on providing more industrial incentives to bring new players into the cement industry.
The Nigerian Senate has called for the liberalization of Nigeria’s cement policy to boost production and subsequently crash the price of the commodity in the country.
This motion was raised by Senator Lola Ashiru at today’s senate plenary, the senator also tasked the Federal Government on providing more industrial incentives to bring new players into the cement industry, in addition to the liberalization of the cement policy in Nigeria.
Ashiru explained that to reduce the price of cement and in extension, other building materials in the country, the Federal Government needs to provide an enabling operating environment that will encourage new entrants in the country.
The Senate in conclusion called on the FG to provide more industrial incentives and protections such as concessionary loans and larger tax incentives to encourage new entrants and expand the national cement production infrastructure, as this boost in production will lead to a downward review of cement price in Nigeria.
What industry leaders are saying
Earlier this year the founder of BUA Group, Abdulsamad Rabiu, called for the liberalization of Nigeria’s cement policy to boost production and reduce the price of the commodity.
The billionaire philanthropist faulted the belief that Nigeria is self-sufficient in terms of cement production, noting that recent statistics and figures on Nigeria’s population and cement production do not support this status of sufficiency in cement production as stated by some individuals.
He attributed the high price of cement products in the country to the supply gap which exists in the country, as the few producers who currently operate in the country are unable able to meet the country’s huge and growing demand.
The Group Executive Director, Strategy, Portfolio Development and Capital Projects, Devakumar Edwin, explained that the demand and consumption of cement in the nation currently outstrips supply, and this can be pegged on the growth in the country’s population, and the strong appetite for real estate investment and construction in the country.
He revealed that a supply gap of about 40% exists in the country’s cement market and that all players in the industry are working hard to level production with the rising demand in the country.
Paypal’s Venmo now permits cryptocurrency trading
Venmo will support four different cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Venmo, a mobile payment service owned by PayPal has announced that it has started allowing users to buy, hold and sell cryptocurrencies on its app. Just like PayPal, Venmo will support four different cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, and users can carry out transactions with as little as $1 on the app
Founded in 2009, Venmo has over 70 million users and it is one of the most popular payment channels in the US. The payment platform processed around $159 billion in payments last year.
Since the app functions like a social network, adding cryptocurrency will offer a more user-friendly feel for people who love buying and selling crypto.
As bigger companies show more interest in cryptocurrency, there will be wider adoption of virtual currencies in future. Venmo is the latest payment app that is offering support for cryptocurrency on its platform.
Paypal, the parent company of Venmo is one of the most active companies in the crypto space as it allows users to buy, sell and hold cryptocurrencies in their digital wallets. Paypal users can also spend their coins at millions of merchants globally.
Crypto on Venmo is enabled through PayPal’s partnership with Paxos Trust Company, a regulated provider of cryptocurrency products and services.
What they are saying
Darrell Esch, Venmo’s Senior Vice President and general manager said “Our goal is to provide our customers with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and demystifies some of the common questions and misconceptions that consumers may have.”
Nairametrics | Company Earnings
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