Mobius' new drive

Today: Nigeria’s inflation eases for the first time in 19 months.                                                                                                                                                                                                                                                                                                                                                                                                                 August 16, 2024 | [Read Online]( In partnership with Share this newsletter: //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUlTXYgWq7s_9mwYE5RnYaBFl9n0w8VPoDyPNYm2Nr41NwzQypf-6xNcZPru2W1dk3Nhl_Ag1eckSHNfHbsM3yx75XhlNcDlA1xcNWIg3F5h2ON8UvtAabwLJyVUudLnIRQpmRGooqtjwqZWHToPeHdTUsAIGOvsf2WM1LWB_-4MUwE3ow5UfNyidK3jrADE1ZM_PGa8swd3Nb-ikyjTAfk2pSehD7xCDcaoaOYdyv7c7iSE115Glqa1mfqkKXI3uYqOjhWPItVfspJibt3FPaM-wbLD4yRnJYZ5yAm6amG8c/48y/htZ8vyc3TiuKg8kUC3YujQ/h2/h001.I_3vR4DQzHFZPjJd6chViMms3AutfKPNHNVuDRv8LQM [Lire en Français]( [اقرأ هذا باللغة العربية]( TGIF ☀️ Starting next week, TC Daily will be slightly different. The content will be the same, but we’ve optimised this design for something that’s easier to use, and prettier to look at. In today's edition - [Quick Fire 🔥](#Story1) - [Nigeria’s inflation eases for the first time in 19 months](#Story2) - [Mobius Motors accepts an acquisition offer](#Story3) - [South Africa publishes AI policy framework](#Story4) - [Funding tracker](#Story5) - [The World Wide Web3](#WW3) - [Events](#Events) Features //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUwwqOPuok9Eok2zre9jO1nw0jKAywxIn60y9eSJDqXC1Ynh_KJe9r8DUVfglJgXgWwUGS52iDs3ENd-DiluMHywkpPnfW1r08zQTpUjsBAK68rNHol8ZnFp6GJuq8o6jY5-1S_6cNcUFGrV29GO3zk1kSQdxhpVwKuUBlBDsFhlf9MxbIGskSl3N029Qj0uhqS8TT3fVnX-iiCJMGGQ5lJyzrIfMTSSCnnlpxyzaqx08Bclk3HaiJ6zc3d3L3zbkTyn1pgRKBV0R8k2Uf-4JU_w/48y/htZ8vyc3TiuKg8kUC3YujQ/h7/h001.wZWuZHobHb2P0NQ0aI6kL9a9CEEXMEO3vwyupDo5Sa4 Quick Fire 🔥 with Ayoola Salako [Ayoola Salako]( is a multimedia storyteller and marketing professional with a track record of successful executions across editorial, brand storytelling, and user acquisition campaigns. His strong interest in creative storytelling and technology has led him to work for top brands and publishers in multiple countries. Currently, he leads marketing operations and storytelling efforts in LemFi's mission of making International Payments accessible to everyone. - Explain your job to a five-year-old My job is to make pictures and videos of the cool things my friends and I do, and then show them to people, like our friends and family, using the internet or any other means. This helps them know about our business so they can come and buy from us. - How do you adapt your storytelling approach for different clients? I adapt my storytelling by looking for the most effective way to tell the business’s story. I find references on the internet that are closest to the client’s needs, whether they are crazy or sane, and then I use those references to guide the storytelling. - What's your process for collaborating with clients who may not have a clear vision for their project? I ask a lot of questions to understand what the client truly needs, even if they don’t have a clear vision. I find something that is the safest option to tell their story, present a few references that match what they might be looking for, and then work with them to choose the direction that fits best. - What are some of the biggest challenges you've faced in remote collaboration on multimedia projects? The biggest challenges in remote collaboration are dealing with bandwidth issues and the lack of very detail-oriented talents among media producers. Often, production companies and agencies don’t understand why I need content in specific formats or durations, which complicates the process. - Beyond production, how do you measure the success of a storytelling project? I measure success based on the impact and how well people can relate to the story. For example, I once worked on a documentary about a traditional bone healer that led someone from the US to come to Nigeria to visit the healer. I also look at how organically a story spreads and resonates with audiences, as with a campaign I did that went viral because people thought it was part of a TV show, not an ad. - What exciting things are you working on now? Right now, I’m excited about the transition I’ve made in my career, which is quite unique. I've moved from being purely a brand storyteller to taking on a more strategic role that involves not only crafting narratives but also integrating project management, legal compliance, and data analysis into my work. This evolution happened as I started working on a market expansion campaign in Ghana, where I realized that my role was expanding beyond just creating content. I found myself asking the "so what?" question—essentially ensuring that every piece of content or strategy directly ties into specific metrics or goals. My current focus is on blending my storytelling background with growth strategies, working closely with various teams like product, engineering, data, legal, and finance. This multidimensional role allows me to contribute to more intentional and metric-driven campaigns, making my work both challenging and fulfilling. - What does the future look like? The future for me would be to find a unique blend for what I do. In sub-Saharan Africa, there are no companies that are focused on data-conscious storytelling. As a creative person, while it’s very easy to focus on the promotion part of marketing, it’s also easy to forget about on of the other Ps of marketing, pricing. I think I’d like to see myself as a business-conscious creative director. - Given your love of documentaries, what story would you jump at the chance to tell, given the opportunity? I would love to tell the story of a wildlife ranger in a park. I want to follow them and document their lives, understanding what inspires them to protect wildlife and what their day-to-day life is like. We don’t get to see a lot of that in West Africa. We’ll often see these stories told in Kenya or East Africa, even Southern Africa, but those stories are needed here. - You describe yourself as a "Student of the internet”—can you share a recent online discovery that blew your mind, related to storytelling or technology? Recently, I learned about different home automation protocols like Zigby and Z-Wave, which allow devices to communicate without Wi-Fi. This was a big discovery for me because I always thought everything relied on Wi-Fi. In storytelling, I discovered James Tulland on YouTube, who tells life stories from a unique point of view, such as what life is like for a great white shark, highlighting how much we still don’t know about the ocean. Read Moniepoint’s 2024 Informal Economy Report Did you know that 57.7% of the business owners in Nigeria's informal economy are under 34 years old? [Click here]( to find out more about the demographics of Nigeria’s informal economy. Economy //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUF7ffHqmDWqe73x3GNhqRh_p5TelnFobCGl8QSRElsEhI_m_1JW_HHZ2VpnVGF4OXbrrnG7mOPhQeQCQ1jqhl5gwZg85IQER0UBBlWX3vKZWdNpQlUXwtYQqoJcCrmMVCbxZv76lZ2ozD-P1aTxw_UOM_5TjDeznsmkPjUxCv_wyiQVAoLb7JdanNKOjmfQcPEdqsx8uY58DRYMuGXJWKKIgJJd9aNnZJIgG6DqRx8l6nnC3-iiQ-gGHaTifzgDUt_L0JX0lwpwpGk_O9r_GGdCT-8Y1fO0tsdl2W1SOhThA/48y/htZ8vyc3TiuKg8kUC3YujQ/h14/h001.PEaAC2Kdg9T4Mr7XX4mkUK8IBnQFWq86DoD6R4TseC0 Nigeria’s inflation eases for the first time in 19 months Yesterday, [Nigeria’s inflation slowed]( for the first time in almost two years. Data from Nigeria’s Bureau of Statistics puts July’s headline inflation at 33.40%, down from 34.19% recorded in June. According to Stears Analyts, this decrease is a result of a drop in food prices, which has been a major driver of inflation. As Nigeria's harvest season draws near—with one basket of tomatoes coting half of what it used to be in June—[Stears analysts]( believe that inflation will fall further. Also, the Federal government waived import tax on food for 150 days, a move aimed at lowering the cost of food. July’s inflation rate will offer some respite to Nigerians who are suffering the worst cost of living crisis in decades. While analysts expect a 31% inflation rate in August, they expect the CBN to keep interest rates high until they see a consistent decline in inflation for at least three months. Startups //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUZJbDJJMo2MHTrShWP-Hk1ck1TkVQtxFusv41mTBRyBQAiW9tu9zpSXCJiHhGzAE_hs2M66pfs5gAalDB63-uWAogl7ejeEnW7MjRIYSqmTSU_u3uVSSqER8EMGLeen0eEdLCLtowKCkcJHMzYpRccFj9HutKIIbKnapWAsd6_V_TzCWVqpJUx0VkkJLSrBM1Ot3Fhndfzm7zWKYzqG0_jo2RB1-nKlFHeIMqKdlCDz7Rm8HjSizwumiiYc8_ShEp/48y/htZ8vyc3TiuKg8kUC3YujQ/h19/h001.r-LzqLfndPBjMXk3ifB_TRvzD6CRX_JvDM-Ekjo8BvE Mobius Motors to get acquired by undisclosed buyer Mobius Motors may be getting a new lease on life after [accepting an acquisition offer]( from an undisclosed buyer. Only a week ago, the Kenyan car-maker was set to shut down. However, the company is now negotiating with a mystery buyer set to take over; the transaction is expected to be finalised in 30 days. However, it is unclear if the interested buyer will use Mobius's assembly plant in Nairobi to produce their own model cars, or continue Mobius's line of product. If it's the latter, Mobius will count itself lucky to get another go at the Kenyan car-manufacturing market—most Kenyan companies that enter liquidation [do not make it back]( from there. But the real problems still persist. How will Mobius break into a market that overwhelmingly favours second-hand cars? If it cannot compete on price, what else can Mobius do? One thing that has worked for other local manufacturers is focusing on luxury. For example, Morocco's Laraki builds its cars with high export value and sells them to Europe. Others survive on government contracts. There are two things: Mobius can adopt a lean manufacturing process so it doesn't lose money when it sells for cheap—yet, still make its cars appeal to more Kenyans. Or it should focus on improving the export value to richer countries to increase the deal quality it gets. The former is a likely option given Mobius’s value proposition, but it's a complete overhaul. Mobius should really consider making cars for richer countries, as prying Kenyans away from buying second-hand cars is a much harder thing to do. Collect payments anytime anywhere with Fincra Are you dealing with the complexities of collecting payments from your customers? Fincra’s payment gateway makes it easy to accept payments via cards, bank transfers, virtual accounts and mobile money. What’s more? You get to save money on fees when you use Fincra. [Get started now](. AI //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUlTXYgWq7s_9mwYE5RnYaBFl9n0w8VPoDyPNYm2Nr41NwzQypf-6xNcZPru2W1dk3Nhl_Ag1eckSHNfHbsM3yx75XhlNcDlA1xcNWIg3F5h2ON8UvtAabwLJyVUudLnIRQpmRGooqtjwqZWHToPeHdTUsAIGOvsf2WM1LWB_-4MUwE3ow5UfNyidK3jrADE1ZM_PGa8swd3Nb-ikyjTAfk1FF_KdktO2yRJ-1y68L2jDHFEMGpVk1gc1lTvxYsyGjXIu2MbpdGSNCzvoHihl7PQteWOHwGxPfE7YptnJhDz4/48y/htZ8vyc3TiuKg8kUC3YujQ/h26/h001.mD2BDybjyekNGrtFcpjUd2Ba2TwuSDxvdVswaVDYigg South Africa publishes framework for AI policy African countries are racing one another to become the Artificial Intelligence (AI) powerhouse of the continent. Yesterday, South Africa's Department of Communications and Digital Technology (DCDT) [published the first draft]( of its National AI policy, asking AI stakeholders in the country to give feedback ahead of the policy launch in September 2024. The framework is mostly a rehash of its previous draft: to build and scale research, to develop talent, to apply AI in governance, to use AI ethically, and to make AI training models inclusive. The stated pillars were mostly the same as what Nigeria published in its own AI policy draft on August 1, 2024. However, South African stakeholders in the industry are impressed. Since Solly Malatsi, the Minister of Communications and Digital Technologies took over in June, there's been a lot of chatter around how he'll tackle AI, and build a framework for its continuous development in the country. Unlike other African countries, South Africa is heads and shoulders above its peers in AI development. In the past, it has funded AI military research centres and implemented country-wide AI skill development programmes. Even well-funded AI and AI-as-a-service companies like Xineoh and Dataprophet have significantly contributed to this advancement in South Africa. This is what is lacking in other countries; aside from Mauritius, Rwanda, and maybe Nigeria, very few other countries give chase to the pace of AI development in other continents. Importantly, the framework highlighted “supercomputing infrastructure”. The next phase of South Africa’s AI development is building the infrastructure to support AI scale. The prediction is on building AI accelerators (semiconductors) to improve AI algorithms and its performance. This technology will be critical to position the first country to achieve this scale as Africa's AI hub. For now, South Africa looks most likely to get there first. Insights //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUlTXYgWq7s_9mwYE5RnYaBFl9n0w8VPoDyPNYm2Nr41NwzQypf-6xNcZPru2W1dk3Nhl_Ag1eckSHNfHbsM3yx75XhlNcDlA1xcNWIg3F5h2ON8UvtAabwLJyVUudLnIRQpmRGooqtjwqZWHToPeHdTUsAIGOvsf2WM1LWB_-4MUwE3ow5UfNyidK3jrADE1ZM_PGa8swd3Nb-ikyjTAfk_0wiI7DeYUsU_7G4vlbY-gV4PEFrTrtxKG_4tbuFty2uuWeKpDHdAgNj7CG24t6lGG_9uRCaEU3gS3knByhhV4/48y/htZ8vyc3TiuKg8kUC3YujQ/h30/h001.etzQH9gyejeIFQK4wa-9Gst2Da7qn-crTW68-qOhYp4 Funding tracker This week, South Africa-based SaaS startup Open Access Energy (OAE) [secured $750,000]( in seed funding from Factor[e] Ventures. (August 14) Here’s the other deal for the week: - Kredete, a Nigerian digital lending marketplace startup, [secured]( undisclosed funding from Launch Africa Ventures. (August 14) Follow us on [Twitter](, [Instagram](, and [LinkedIn]( for more funding announcements. Before you go, our State of Tech in Africa H1 2024 Report is out. Click this [link to download it](. Paystack Virtual Terminal is now live in more countries Paystack Virtual Terminalhelps businesses accept secure, in-person payments with real-time WhatsApp confirmations and ZERO hardware costs. Enjoy multiple in-person payment channels, easy end-of-day reconciliation, and more. [Learn more on the Paystack blog →]( Crypto Tracker //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUlTXYgWq7s_9mwYE5RnYaBFl9n0w8VPoDyPNYm2Nr41NwzQypf-6xNcZPru2W1dk3Nhl_Ag1eckSHNfHbsM3yx75XhlNcDlA1xcNWIg3F5h2ON8UvtAabwLJyVUudLnIRQpmRGooqtjwqZWHToPeHdTUsAIGOvsf2WM1LWB_-4MUwE3ow5UfNyidK3jrADE1ZM_PGa8swd3Nb-ikyjTAfk1kzVUaQ8dstLscED02I0r2TH86-RbaXiMT1-tNqRWdBL27TwPy4sGG---enFcEHeVqfJaUHMIwxnfIhFrHB33I/48y/htZ8vyc3TiuKg8kUC3YujQ/h41/h001.cX7optpX4XQYhbz7ahT_7kKHuHwb7pFOA-nq7xZR-Q4 The World Wide Web3 Source: [Coinmarketcap logo] Coin Name Current Value Day Month Bitcoin $56,877 - 3.67% - 10.48% Ether $2,537 - 5.13% - 25.87% Toncoin $6.53 - 6.63% - 11.25% Solana $140.70 - 2.41% - 12.09% * Data as of 22:25 PM WAT, August 15, 2024. Events //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUDvDf_20X3fE62oAvNbZTmtIkAPgeF7d0GSkJvM6M-i9st3_pJwzNAKJ53Tev0HuloHJGX4HsZMvaMvig36p-6XCtrqh3RSCykhZzVVoqJy6BI2FuN0yYVFrKGYsVNLCnxKQLYo0JBK3S-4mHrznPnruu590ZAC_WXpYFhp4daa8wKCGLURVTDRchG_792ZS4yH_6dArIOifrlGVgLj2Rg9CKW4zGe_79nvtbOCCdBOBu-FxipCKr5A0p6oDjwhWfI6aoTsw5JFqT9-wQgEWUjQ/48y/htZ8vyc3TiuKg8kUC3YujQ/h44/h001.HwoH-FWgvJdh8amuwZOZTBjZIX4LzYP4xqVWA68JUHU - We are two months away from Moonshot 2024. From October 9–11, 2024, at the Eko Convention Centre, Lagos, Nigeria, you can join Africa’s biggest thinkers and players like Iyin Aboyeji, Wiza Jalakasi, June Angelides, Kola Aina on a global launchpad for change. If you want to join these stakeholders in Africa’s tech ecosystem for three days of insightful conversations, then [get a ticket to Moonshot 2024 here](. - Step into the Future with AWS Community Day West Africa 2024! Are you ready to be part of the revolution shaping the next era of tech? Join the trailblazers, visionaries, and innovators who are pushing the boundaries of what's possible. This is your chance to connect, learn, and ignite your passion alongside the brightest minds in the industry. Don’t just witness the future—be a part of it on September 27th & 28th. [Register today](. - Join Career Brunch 2024 on August 17, 2024, in CcHUB with successful professionals from diverse fields and beyond for an exclusive (physical) career hangout for all professionals. Whether you're a 9-5er, entrepreneur, founder, or young-and-coming professional looking to climb the career ladder, scale your business or transition, Career Brunch has something for you. This is your golden ticket to connect with industry leaders and professionals from MTN, CcHUB, McKinsey, Spotify etc., gain invaluable insights, and supercharge your career trajectory. Get your ticket at [www.tix.africa/thebrunch](. You should definitely read these 👇🏾 - [What’s next for KOSA, the controversial ‘child safety’ bill that could change online speech]( - [Sweden records first case of new mpox variant]( - [Crunchyroll is trying to turn India into a nation of anime lovers]( - [Musk’s ‘fun’ AI image chatbot serves up Nazi Mickey Mouse and Taylor Swift deepfakes]( Written by: [Emmanuel Nwosu](, [Stephen Agwaibor]( & [Faith Omoniyi]( Edited by: [Muyiwa Olowogboyega]( & [Timi Odueso]( Want more of TechCabal? Sign up for our insightful newsletters on the business and economy of tech in Africa. - [The Next Wave](: futuristic analysis of the business of tech in Africa. - [Entering Tech](: tech career insights and opportunities in your inbox every Wednesday at 3 PM WAT. - [TC Scoops](: breaking news from TechCabal P:S If you’re often missing TC Daily in your inbox, check your Promotions folder and move any edition of TC Daily from “Promotions” to your “Main” or “Primary” folder and TC Daily will always come to you. ADVERTISE To advertise with us send an email to [ads@bigcabal.com]( [Unsubscribe from TC Daily]( [fb]( [tw]( [ig]( [yt]( [in]( Update your email preferences or unsubscribe [here]( © 2024 TC Daily 18 Nnobi Street Surulere, Lagos 101212, Nigeria [[beehiiv logo]Powered by beehiiv]( [Terms of Service](