The Nigerian Communications Commission has announced that 3 finalist startups will get a grant of N3 million each at the end of the COVID-19 virtual hackathon.
These three startups will be selected from submitted entries that meet all the criteria and provide adaptable digital solutions for addressing the present and future impacts of pandemic and epidemic diseases.
The solutions must be novel, clearly explained, with proof of concept
NCC announced this through a statement published on its Twitter handle.
The grant, it said, will enable the three startups with the most promising digital solutions to produce a prototype within 2 months of receipt.
According to the statement, submitted entries are expected to provide solutions in sectors such as health, digital communications, education, transportation.
For those in health, the solutions should find a way to empower frontline healthcare workers or prevent, trace, and contain the spread in Nigeria.
Solutions in digital communications are expected to aid the sustenance of economic activities and people-to-people communication while encouraging social distancing without compromising productivity.
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The hackathon also hopes to identify accessible and cost-effective E-Learning solutions for public schools, as well as improved safety measures in public transportation in Nigeria.
Interested tech hubs, startups and innovative digital SMEs can still submit entries on or before July 17, 2020.
COVID-19 Update in Nigeria
On the 4th of December 2020, 324 new confirmed cases were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 68,627 confirmed cases.
On the 4th of December 2020, 324 new confirmed cases were recorded in Nigeria, having carried out a total daily test of 7,101 samples across the country.
To date, 68,627 cases have been confirmed, 64,467 cases have been discharged and 1,179 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 791,539 tests have been carried out as of December 4th, 2020 compared to 779,708 tests a day earlier.
COVID-19 Case Updates- 4th December 2020,
- Total Number of Cases – 68,627
- Total Number Discharged – 64,467
- Total Deaths – 1,179
- Total Tests Carried out – 791,539
According to the NCDC, the 324 new cases were reported from 11 states- Lagos (115), FCT (110), Kaduna (57), Taraba (9), Akwa Ibom (8), Plateau (6), Bauchi (4), Ekiti (4), Kano(4), Katsina (4) and Rivers (3).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 23,660, followed by Abuja (7,101), Plateau (3,910), Oyo (3,730), Kaduna (3,302), Rivers (3,009), Edo (2,705), Ogun (2,237), Delta (1,824), Kano (1,803), Ondo (1,728), Enugu (1,332), Kwara (1,110), Ebonyi (1,055), Katsina (1,034), Osun (947), Gombe (938). Abia (926), Bauchi (782), and Borno (745).
Imo State has recorded 681 cases, Nasarawa (507), Benue (496), Bayelsa (456), Ekiti (381), Akwa Ibom (348), Jigawa (331), Niger (298), Anambra (285), Adamawa (261), Taraba (172), Sokoto (166), Yobe (100), Kebbi (93), Cross River (90), Zamfara (79), while Kogi state has recorded 5 cases only.
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
Stripe plans corporate banking services for merchants, vendors
Stripe Inc is partnering with American elite banks in offering corporate-banking services to its merchants and vendors.
Stripe Inc, one of the most valuable start-ups on this planet, is partnering with American elite banks such as Goldman Sachs Group Inc. and Citigroup Inc. in offering corporate-banking services.
This is as the fast-rising startup, known for simplifying payment, seeks to diversify its business offering, amid a competitive ecosystem that includes PayPal, Visa, Mastercard, Adyen.
What this means
Stripe, best known for handling millions of online businesses and e-commerce web pages, will soon start offering some of its client’s interest yielding bank accounts, debit cards, and other cash-management services, according to a report credited to WSJ.
However, these service offerings listed are for its merchants and vendors that do business with Stripe.
- Recall Nairametrics revealed how Stripe had raised $600 million to invest and acquire payments companies in developing nations. It disclosed that Nigerian startup, Paystack, had been on Stripe’s bucket list for a while since 2018 when Stripe led an $8 million funding round for it.
- Stripe acquired Paystack for an undisclosed deal believed to be worth over $200 million, making it the biggest fintech startup acquisition to date to come out of Nigeria, as well as Stripe’s biggest acquisition to date.
Patrick Collison, CEO of Stripe, spoke on the company’s strategy at the time it acquired Paystack. He said:
“Stripe thinks on a longer time horizon than others, because we are an infrastructure company. We are thinking of what the world will look like in 2040-2050.”
He added that Stripe also planned to understand the ecosystem and keep its eyes open so it would see where help was needed, as the company did not tie up its investments into “complicated strategic investments.”
WorldRemit and The Nest partner to empower entrepreneurs in Nigeria, 3 others
WorldRemit has partnered with The Nest to empower entrepreneurs in Nigeria, Kenya, Ghana, and Zimbabwe.
WorldRemit, a global fintech platform, has partnered Nigeria’s tech innovation hub, The Nest, to empower entrepreneurs in Nigeria, Kenya, Ghana, and Zimbabwe.
This was disclosed by the company via a statement issued on Wednesday, and seen by Nairametrics.
According to the statement, the partnership is to build scalable business models across Africa via the WorldRemit Entrepreneurs Program.
In its quest to go beyond digitalizing payment methods across the globe, strengthen its renewed commitment to creating opportunities, and facilitate development in Africa, WorldRemit will now equip African entrepreneurs with effective skill sets and tools to build, innovate, and scale their businesses.
Country Manager (Nigeria and Ghana), WorldRemit, Gbenga Okejimi, explained that the partnership came right in time for impact, as many small businesses had taken a hit in the course of the tumultuous year.
He lauded the efforts of the team at The Nest Hub for their resolve at ensuring continuous education, and enabling a thriving environment for start-ups and small businesses.
He said, “Much of what Africa is today is due to its entrepreneurship, which is a key driver for socio-economic progress through significant job creation and innovation.
“At WorldRemit, we want to be known for fostering the African entrepreneurship spirit. We want to be a part of Africa’s future prosperity. By helping build entrepreneurs across our African markets, we are enabling growth and development.”
Co-founder, The Nest, Oluwajoba Oloba, explained that the Entrepreneurs Program will serve as a catalyst in building scalable business models across Africa as the continent enters into a new wave of business revolution.
He said, “The entrepreneurs will be equipped with effective skills and tools required to build and scale their businesses. The Nest definitely plays a big role in this important partnership, as the project partner leads the designing of the digital business course, otherwise known as the learning modules, that would be used in training selected entrepreneurs while also mentoring them on innovative ways to manage and scale their businesses.”
He added that beyond training and mentoring, The Nest provides entrepreneurs, creatives, start-ups, and small businesses with dynamic facilities and workspaces.
What you should know
- The WorldRemit Entrepreneurs Program will run simultaneously in Nigeria, Ghana, Kenya, and Zimbabwe, from November 2020 through January 2021.
- It is expected to empower 50 aspiring and budding entrepreneurs.