Goldman backs Kobo360, Rwanda commits to EVs, Interswitch IPO update – gpgmail


Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks.

The company — with an Uber-like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to 10 new countries beyond current operating markets of Nigeria, Togo, Ghana and Kenya.

Kobo360 looks to grow beyond its Nigeria roots to become a truly Pan-African company, co-founder Obi Ozor told gpgmail .  He co-founded the venture in 2017 with fellow Nigerian Ife Oyedele II.

Since its launch in Lagos, the startup has continued to grow its product offerings, VC backing and customer base. Kobo360 claims a fleet of more than 10,000 drivers and trucks operating on its app. Top clients include Honeywell, Olam, Unilever, Dangote and DHL.

Kobo360’s latest round is also notable for Goldman Sachs’ involvement. Goldman’s participation tracks a growing list of African venture investments made by the U.S. based finance firm.

Chinese mobile-phone and device maker Transsion will list in an IPO on Shanghai’s STAR Market, Transsion confirmed to gpgmail.

The company — which has a robust Africa sales network — could raise up to 3 billion yuan (or $426 million).

Transsion’s IPO prospectus is downloadable (in Chinese) and its STAR Market listing application available on the Shanghai Stock Exchange’s website.

STAR is the Shanghai Stock Exchange’s new Nasdaq-style board for tech stocks that also went live in July with some 25 companies going public.

Headquartered in Shenzhen — where African e-commerce unicorn Jumia also has a logistics supply-chain facility — Transsion is a top-seller of smartphones in Africa under its Tecno brand.

The company has a manufacturing facility in Ethiopia and recently expanded its presence in India.

Transsion plans to spend the bulk of its STAR Market raise (1.6 billion yuan or $227 million) on building more phone assembly hubs and around 430 million yuan ($62 million) on research and development, including a mobile phone R&D center in Shanghai, a company spokesperson said.

The government of Rwanda will soon issue national policy guidelines to eliminate gas motorcycles in its taxi sector in favor of e-motos, according to a preview of the plan by President Paul Kagame at a public-rally

The director general for the Rwanda Utilities Regulatory Authority, Patrick Nyirishema, confirmed Kagame’s comments were ahead of a national e-mobility plan in the works for the East African nation.

“The president’s announcement is exactly the policy direction we’re in…it’s about converting to electric motos…The policy is prepared, it’s yet to be passed…and is going through the approval process,” Nyirishema told gpgmail on a call from Kigali.

Motorcycle taxis in Rwanda are a common mode of transit, with estimates of 20 to 30 thousand operating in the capital of Kigali.

Nyirishema explained that converting to e-motorcycles is part of a national strategy to move Rwanda’s entire mobility space to electric. The country will start with public transit operators, such as moto-taxis, and move to buses and automobiles.

Ampersand, a Kigali-based e-moto startup, has already begun to pilot EVs and charging systems in Rwanda and will work with the country’s government on the moto-taxi conversion.

In an ExtraCrunch feature, gpgmail delved into tech talent accelerator Andela — one of the most recognized and well funded startups operating in Africa.

In a byte, Andela is Series D stage startup ― backed by $180 million in VC ― that trains and connects African software developers to global companies for a fee.

CEO Jeremy Johnson dished on the company’s strategy toward profitability and responded to some of the criticism it receives ― namely a claim the startup is creating a second brain-drain when software developers leave Andela and Africa, to take positions with global companies.

Today Andela has offices in New York and five African countries: Nigeria, Kenya,  Rwanda, Uganda, and Egypt ― which largely align with the continent’s top tech VC markets.

Across this network the company recruits software developers, builds software engineers, and deploys teams of software engineers.

Johnson disclosed numbers on Andela’s expected new hires for the year, current developer staff, how many departures the company expects, and how many of those will likely leave their home countries―which actually amounts to a fairly small percentage.

gpgmail checked in with Nigerian fintech company Interswitch for the latest on its anticipated dual-listing London and Lagos stock exchanges.

A Bloomberg News story (based on background sourcing) revived speculation the IPO could happen this year for the company — which provides much of Nigeria’s digital banking infrastructure and has expanded its operations presence and payments products across Africa and globally.

Reports that Interswitch could be one of the earliest big tech companies out of Africa to go public trace back to 2016, when CEO and founder Mitchell Elegbe told gpgmail the company was considering a listing before the end of that year.

Last month, an Interswitch spokesperson would neither confirm or deny a pending IPO, per a gpgmail inquiry. So, it’s still tough to say if or when the company could list. But there are still several reasons why the business (and its possible IPO) are worth keeping an eye on, which we detailed in the update story.

 

One could be an eventual increase in venture funding to African startups, that could come from Interswitch. Another could be an Interswitch IPO adding another benchmark for global investors to gauge Africa’s tech sector beyond Jumia — the e-commerce company that became the first big tech firm operating in Africa to launch on a major exchange, the NYSE in April.

More Africa-related stories @gpgmail

African tech around the ‘net

 


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What is Andela, the Africa tech talent accelerator? – gpgmail


As someone who covers Africa’s tech scene, I’m frequently asked about Andela. That’s not surprising, given the venture gets more global press (arguably) than any startup in Africa.

I’ve found many Silicon Valley investors have heard of Andela but aren’t exactly sure what it does.

In a bite, Andela is Series D stage startup―backed by $180 million in VC―that trains and connects African software developers to global companies for a fee.

The revenue-focused venture is often misread as a charity. In 2017, Andela CEO Jeremy Johnson described the organization as “a mission-driven for-profit company” ― a model for the concept “that you can actually build businesses that create real impact.”

I asked Johnson recently to clarify the objective behind Andela’s drive. “It’s the exact same mission as when we started, based around our founding principle… that brilliance and talent are distributed equally around the world, but opportunity is not,” he said.

“We’re about breaking down the walls that prevent brilliance and opportunity from connecting to each other.”

A major barrier for Africa’s software engineers, according to Johnson, is simply the fact that the continent has been totally off the network that companies look to for developer talent.


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Former Google X ecec Mo Gawdat wants to reinvent consumerism – gpgmail


Mo Gawdat, the former Google and Google X executive, is probably best known for his book Solve for Happy: Engineer Your Path to Joy. He left Google X last year. Quite a bit has been written about the events that led to him leaving Google, including the tragic death of his son. While happiness is still very much at the forefront of what he’s doing, he’s also now thinking about his next startup: T0day.

To talk about T0day, I sat down with the Egypt-born Gawdat at the Digital Frontrunners event in Copenhagen, where he gave one of the keynote presentations. Gawdat is currently based in London. He has adopted a minimalist lifestyle, with no more than a suitcase and a carry-on full of things. Unlike many of the Silicon Valley elite that have recently adopted a kind of performative aestheticism, Gawdat’s commitment to minimalism feels genuine — and it also informs his new startup.

“In my current business, I’m building a startup that is all about reinventing consumerism,” he told me. “The problem with retail and consumerism is it’s never been disrupted. E-commerce, even though we think is a massive revolution, it’s just an evolution and it’s still tiny as a fraction of all we buy. It was built for the Silicon Valley mentality of disruption, if you want, while actually, what you need is cooperation. There are so many successful players out there, so many efficient supply chains. We want the traditional retailers to be successful and continue to make money — even make more money.”

What T0day wants to be is a platform that integrates all of the players in the retail ecosystem. That kind of platform, Gawdat argues, never existed before, “because there was never a platform player.”

That sounds like an efficient marketplace for moving goods, but in Gawdat’s imagination, it is also a way to do good for the planet. Most of the fuel burned today isn’t for moving people, he argues, but goods. A lot of the food we buy goes to waste (together with all of the resources it took to grow and ship it) and single-use plastic remains a scourge.

How does T0day fix that? Gawdat argues that today’s e-commerce is nothing but a digital rendering of the same window shopping people have done for ages. “You have to reimagine what it’s like to consume,” he said.

The reimagined way to consume is essentially just-in-time shipping for food and other consumer goods, based on efficient supply chains that outsmart today’s hub and spoke distribution centers and can deliver anything to you in half an hour. If everything you need to cook a meal arrives 15 minutes before you want to start cooking, you only need to order the items you need at that given time and instead of a plastic container, it could come a paper bag. “If I have the right robotics and the right autonomous movements — not just self-driving cars, because self-driving cars are a bit far away — but the right autonomous movements within the enterprise space of the warehouse, I could literally give it to you with the predictability of five minutes within half an hour,” he explained. “If you get everything you need within half an hour, why would you need to buy seven apples? You would buy three.”

Some companies, including the likes of Uber, are obviously building some of the logistics networks that will enable this kind of immediate drop shipping, but Gawdat doesn’t think Uber is the right company for this. “This is going to sound a little spiritual. There is what you do and there is the intention behind why you do it,” he said. “You can do the exact same thing with a different intention and get a very different result.”

That’s an ambitious project, but Gawdat argues that it can be done without using massive amounts of resources. Indeed, he argues that one of the problems with Google X, and especially big moonshot projects like Loon and self-driving cars, was that they weren’t really resource-constrained. “Some things took longer than they should have,” he said. “But I don’t criticize what they did at all. Take the example of Loon and Facebook. Loon took longer than it should have. In my view, it was basically because of an abundance of resources and sometimes innovation requires a shoestring. That’s my only criticism.”

T0day, which Gawdat hasn’t really talked about publicly in the past, is currently self-funded. A lot of people are advising him to raise money for it. “We’re getting a lot of advice that we shouldn’t self-fund,” he said, but he also believes that the company will need some strategic powerhouses on its side, maybe retailers or companies that have already invested in other components of the overall platform.

T0day’s ambitions are massive, but Gawdat thinks that his team can get the basic elements right, be that the fulfillment center design or the routing algorithms and the optimization engines that power it all. He isn’t ready to talk about those, though. What he does think is that T0day won’t be the interface for these services. It’ll be the back end and allow others to build on top. And because his previous jobs have allowed him to live a comfortable life, he isn’t all that worried about margins either, and would actually be happy if others adopted his idea, thereby reducing waste.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Former Google X exec Mo Gawdat wants to reinvent consumerism – gpgmail


Mo Gawdat, the former Google and Google X executive, is probably best known for his book Solve for Happy: Engineer Your Path to Joy. He left Google X last year. Quite a bit has been written about the events that led to him leaving Google, including the tragic death of his son. While happiness is still very much at the forefront of what he’s doing, he’s also now thinking about his next startup: T0day.

To talk about T0day, I sat down with the Egypt-born Gawdat at the Digital Frontrunners event in Copenhagen, where he gave one of the keynote presentations. Gawdat is currently based in London. He has adopted a minimalist lifestyle, with no more than a suitcase and a carry-on full of things. Unlike many of the Silicon Valley elite that have recently adopted a kind of performative aestheticism, Gawdat’s commitment to minimalism feels genuine — and it also informs his new startup.

“In my current business, I’m building a startup that is all about reinventing consumerism,” he told me. “The problem with retail and consumerism is it’s never been disrupted. E-commerce, even though we think is a massive revolution, it’s just an evolution and it’s still tiny as a fraction of all we buy. It was built for the Silicon Valley mentality of disruption, if you want, while actually, what you need is cooperation. There are so many successful players out there, so many efficient supply chains. We want the traditional retailers to be successful and continue to make money — even make more money.”

What T0day wants to be is a platform that integrates all of the players in the retail ecosystem. That kind of platform, Gawdat argues, never existed before, “because there was never a platform player.”

That sounds like an efficient marketplace for moving goods, but in Gawdat’s imagination, it is also a way to do good for the planet. Most of the fuel burned today isn’t for moving people, he argues, but goods. A lot of the food we buy goes to waste (together with all of the resources it took to grow and ship it) and single-use plastic remains a scourge.

How does T0day fix that? Gawdat argues that today’s e-commerce is nothing but a digital rendering of the same window shopping people have done for ages. “You have to reimagine what it’s like to consume,” he said.

The reimagined way to consume is essentially just-in-time shipping for food and other consumer goods, based on efficient supply chains that outsmart today’s hub and spoke distribution centers and can deliver anything to you in half an hour. If everything you need to cook a meal arrives 15 minutes before you want to start cooking, you only need to order the items you need at that given time and instead of a plastic container, it could come a paper bag. “If I have the right robotics and the right autonomous movements — not just self-driving cars, because self-driving cars are a bit far away — but the right autonomous movements within the enterprise space of the warehouse, I could literally give it to you with the predictability of five minutes within half an hour,” he explained. “If you get everything you need within half an hour, why would you need to buy seven apples? You would buy three.”

Some companies, including the likes of Uber, are obviously building some of the logistics networks that will enable this kind of immediate drop shipping, but Gawdat doesn’t think Uber is the right company for this. “This is going to sound a little spiritual. There is what you do and there is the intention behind why you do it,” he said. “You can do the exact same thing with a different intention and get a very different result.”

That’s an ambitious project, but Gawdat argues that it can be done without using massive amounts of resources. Indeed, he argues that one of the problems with Google X, and especially big moonshot projects like Loon and self-driving cars, was that they weren’t really resource-constrained. “Some things took longer than they should have,” he said. “But I don’t criticize what they did at all. Take the example of Loon and Facebook. Loon took longer than it should have. In my view, it was basically because of an abundance of resources and sometimes innovation requires a shoestring. That’s my only criticism.”

T0day, which Gawdat hasn’t really talked about publicly in the past, is currently self-funded. A lot of people are advising him to raise money for it. “We’re getting a lot of advice that we shouldn’t self-fund,” he said, but he also believes that the company will need some strategic powerhouses on its side, maybe retailers or companies that have already invested in other components of the overall platform.

T0day’s ambitions are massive, but Gawdat thinks that his team can get the basic elements right, be that the fulfillment center design or the routing algorithms and the optimization engines that power it all. He isn’t ready to talk about those, though. What he does think is that T0day won’t be the interface for these services. It’ll be the back end and allow others to build on top. And because his previous jobs have allowed him to live a comfortable life, he isn’t all that worried about margins either, and would actually be happy if others adopted his idea, thereby reducing waste.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Scientists Are Using AI to Recreate the Rules of Long Lost Board Games


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Human beings tend to bury objects that they consider most important to their lives. It’s not surprising, therefore, that some people chose to buy games, including board games. Some of these artifacts have survived the centuries, leaving modern-day archaeologists with a puzzle — how do you understand a game when you have no idea how it was played? Ancient humans, it seems, were downright terrible at losing the manuals for their boxed titles.

Tracing the evolution of games and gaming could tell us a great deal about cultural exchange and evolution between two societies or within one society over time. In a few cases, archaeologists have gotten lucky and found the actual rules to the game. More often, they’re stuck trying to intuit how a game might have worked by comparing it with other games that we do understand, or analyzing how a title is portrayed in art. The only clues for playing the ancient Egyptian game Senet, for example, are in the tomb of Queen Nefertari.

Image is in the public domain

Now, historians are using new tools to recover the rules for ancient games. Cameron Browne leads the Digital Ludeme Project. It’s a research project aimed at using computational techniques, including AI, to recreate the rules of board games. To do this, Browne and his team first break a game down into its constituent parts and elements, codifying them as units called “ludemes.” A ludeme is any game piece or rule that the researchers are aware of. Cultural information is also incorporated to help evaluate the plausibility of various evaluated rulesets. The system they’ve built for actually playing the games is called Ludii.

Modern AI techniques are used to create potential rulesets for games, which can then be computationally evaluated. AI agents are assigned to play games using proposed rules and to build movement lists. The data the AI agents collect in multiple playthroughs can then be evaluated to determine whether the end result is a playable game.

“With our system, we can put in the equipment, we can look for rules from the date [of the board’s creation], rules from the area, rules from the cultural context,” Browne told Vice. “Then we can piece together likely rule sets that might have occurred.”

The team has already had some success. This article describes a game known as latrunculi or Ludus latrunculorum, which scholars have had trouble deciphering. Other scholars have proposed their own rules, but Browne believes Ludii has defined a more likely set of rules for the game — and you can actually try it out, if you use the beta version of the application and select the appropriate game.

Training the AI data set on the rules of the thousands of known games and teaching the AI how game rules evolved and were transmitted over time in the situations we can trace already could help teach the AI how to map the most likely routes for cultural transmission in the past. Some games, like latrunculi, were played for centuries across the entire Roman Empire.

Our difficulty in understanding the games of the past sheds some interesting light on the battle to preserve gamesSEEAMAZON_ET_135 See Amazon ET commerce in the present. Efforts to preserve game data in machine-readable form and to make certain that the unique experiences of gaming are not lost to the ravages of time are not simply driven by piracy or an insane dedication to nerd-dom. The individuals who preserved humanity’s games from centuries ago were saving a valuable relic of their own time. Knowing how a society chooses to spend its leisure time and the sorts of games it finds amusing tells us something about the society, no matter what the type of entertainment is.

Feature image courtesy of Wikipedia

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Andrew Ng’s AI companies expand to Medellin, Colombia – gpgmail


After his tenure as Chief Scientist at Baidu, Andrew Ng, the founder of the Google Brain project and former CEO of Coursera, set up a number of different proejcts that all focus on making AI more approachable. These include the education startup Deeplearning.ai, the AI Fund startup studio for building AI companies and Landing.ai, which helps enterprises (and especially manufacturing companies) use AI. Today, Ng announced that he has opened a second office for these projects in Medellin, Colombia.

At first, Medellin may seem like an odd choice. But today’s Medellin is very different from the one you may have seen on Narcos (and a lot safer). It’s home to a number of universities and over the course of the last few years, it’s a hub for Colombia’s startup scene thanks to incubators like Ruta N and others.

Ng told me that he chose Medellin after looking at a wide range of cities in Europe, Asia and Latin America. Medellin, he believes, offers a strong talent pool, educational system and business ecosystem. it also helps that the Colombia government has made tech a focus in recent years.

“I see early signs of momentum for Colombia being a talent magnet both regionally and globally,” he told me. Indeed, the company was able to hire team members from Poland, Bangladesh, Egypt and Chile for its offices in Medellin, which now has just under 50 people. Over the course of the next two years, Ng plans to expand this team to between 150 and 200 employees.

It’s important, Ng argues, that we set up AI hubs outside of Silicon Valley and China, in part, because they’ll provide a different perspective. “We are able to share our AI ecosystem and Silicon Valley know-how with Medellín,” he writes in today’s announcement. “We’re equally thrilled for our Silicon Valley team to be learning from the Medellín community. Local knowledge and innovation shared with a global community is what will catapult the technology forward.”

The teams in Medellin will work on all of Ng’s projects, including four unannounced stealth portfolio companies that are looking into using AI in sectors like healthcare, education and customer support. In total, the teams in Medellin are working on about a dozen projects right now. And that’s very much Ng’s approach to AI — and for Landing.ai in particular: build lots of specialized components for various verticals that can then be generalized. “AI isn’t some piece of SaaS software that everybody can just swipe their credit card and use,” he said.


Andrew Ng will also join us for our first gpgmail Sessions: Enterprise event in San Francisco on September 5 to talk about Landing.ai and the future of AI in general. You can find more information about the event (and buy tickets) here.


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China’s Transsion and Kenya’s Wapi Capital partner on Africa fund – gpgmail


Chinese mobile-phone and device maker Transsion is teaming up with Kenya’s Wapi Capital to source and fund early-stage African fintech startups.

Headquartered in Shenzhen, Transsion is a top-seller of smartphones in Africa that recently confirmed its imminent IPO.

Wapi Capital is the venture fund of Kenyan fintech startup Wapi Pay—a Nairobi based company that facilitates digital payments between African and Asia via mobile money or bank accounts.

Investments for the new partnership will come from Transsion’s Future Hub, an incubator and seed fund for African startups opened by Transsion in 2019.

Starting September 2019, Transsion will work with Wapi Capital to select early-stage African fintech companies for equity-based investments of up to $100,000, Transsion Future Hub Senior Investor Laura Li told gpgmail via email.

Wapi Capital won’t contribute funds to Transsion’s Africa investments, but will help determine the viability and scale of the startups, including due diligence and deal flow, according to Wapi Pay co-founder Eddie Ndichu.

Wapi Pay and Transsion Future Hub will consider ventures from all 54 African countries and interested startups can reach out directly to either organization, Ndichu and Li confirmed.

The Wapi Capital fintech partnership is not Transsion’s sole VC focus in Africa. Though an exact fund size hasn’t been disclosed, the Transsion Future Hub will also make startup investments on the continent in adtech, fintech, e-commerce, logistics, and media and entertainment, according to Li.

Transsion Future Hub’s existing portfolio includes Africa focused browser company Phoenix, content aggregator Scoop, and music service Boomplay.

Wapi Capital adds to the list of African located and run venture funds—which have been growing in recent years—according to a 2018 study by gpgmail and Crunchbase. Wapi Capital will also start making its own investments and is looking to raise $1 million this year and $10 million over the next three years, according to Ndichu, who co-founded the fund and Wapi Pay with his twin brother Paul.

Transsion’s commitment to African startup investments comes as the company is on the verge of listing on China’s new Nasdaq-style STAR Market tech exchange. Transsion confirmed to gpgmail this month the IPO is in process and that it could raise up to 3 billion yuan (or $426 million).

Transsion sold 124 million phones globally in 2018, per company data. In Africa, Transsion holds 54% of the feature phone market — through its brands Tecno, Infinix and Itel — and in smartphone sales is second to Samsung and before Huawei, according to International Data Corporation stats.

Transsion has R&D centers in Nigeria and Kenya and its sales network in Africa includes retail shops in Nigeria, Kenya, Tanzania, Ethiopia and Egypt. The company also has a manufacturing facility in Ethiopia.

Transsion’s move into venture investing tracks greater influence from China in African tech.

China’s engagement with African startups has been light compared to China’s deal-making on infrastructure and commodities.

Transsion’s Wapi Pay partnership is the second recent event — after Chinese owned Opera’s big venture spending in Nigeria — to reflect greater Chinese influence and investment in the continent’s digital scene.

 

 

 

 

 

 

 


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Y Combinator-backed Trella brings transparency to Egypt’s trucking and shipping industry – gpgmail


Y Combinator has become one of the key ways that startups from emerging markets get the attention of American investors. And arguably no clutch of companies has benefitted more from Y Combinator’s attention than startups from emerging markets tackling the the logistics market.

On the heels of the success the accelerator had seen with Flexport, which is now valued at over $1 billion — and the investment in the billion-dollar Latin American on-demand delivery company, Rappi, several startups from the Northern and Southern Africa, Latin America, and Southeast Asia have gone through the program to get in front of Silicon Valley’s venture capital firms. These are companies like Kobo360, NowPorts, and, most recently, Trella.

The Egyptian company founded by Omar Hagrass, Mohammed el Garem, and Pierre Saad already has 20 shippers using its service and is monitoring and managing the shipment of 1,500 loads per month.

“The best way we would like to think of ourselves is that we would like to bring more transparency to the industry,” says Hagrass.

Like other logistics management services, Trella is trying to consolidate a fragmented industry around its app that provides price transparency and increases efficiency by giving carriers and shippers better price transparency and a way to see how cargo is moving around the country.

If the model sounds similar to what Kobo360 and Lori Systems are trying to do in Nigeria and Kenya, respectively, it’s because Hagrass knows the founders of both companies.

Technology ecosystems in these emerging markets are increasingly connected. For instance, Hagrass worked with Kobo360 founder Obi Ozor at Uber before launching Trella. And through Trella’s existing investors (the company has raised $600,000 in financing from Algebra Ventures) Hagrass was introduced to Josh Sandler the chief executive of Lori Systems.

The three executives often compare notes on their startups and the logistics industry in Northern and Southern Africa, Hagrass says.

While each company has unique challenges, they’re all trying to solve an incredibly difficult problem and one that has huge implications for the broader economies of the countries in which they operate.

For Hagrass, who participated in the Tahrir Square protests, launching Trella was a way to provide help directly to everyday Egyptians without having to worry about the government.

“It’s three times more expensive to transport goods in Egypt than in the U.S.,” says Hagrass. “Through this platform I can do something good for the country.”


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Africa’s top mobile phone seller Transsion to list in Chinese IPO – gpgmail


Chinese mobile-phone and device maker Transsion will list in an IPO on Shanghai’s STAR Market,  Transsion confirmed to gpgmail. 

The company—which has a robust Africa sales network—could raise up to 3 billion yuan (or $426 million).

“The company’s listing-related work is running smoothly. The registration application and issuance process is still underway, with the specific timetable yet to be confirmed by the CSRC and Shanghai Stock Exchange,” a spokesperson for Transsion’s Office of the Secretary to the Chairman told gpgmail via email.

Transsion’s IPO prospectus was downloadable (in Chinese) and its STAR Market listing application available on the Shanghai Stock Exchange’s website.

STAR is the Shanghai Stock Exchange’s new Nasdaq-style board for tech stocks that also went live in July with some 25 companies going public. 

Headquartered in Shenzhen—where African e-commerce unicorn Jumia also has a logistics supply-chain facility—Transsion is a top-seller of smartphones in Africa under its Tecno brand.

The company has a manufacturing facility in Ethiopia and recently expanded its presence in India.

Transsion plans to spend the bulk of its STAR Market raise (1.6 billion yuan or $227 million) on building more phone assembly hubs and around 430 million yuan ($62 million) on research and development,  including a mobile phone R&D center in Shanghai—a company spokesperson said. 

Transsion recently announced a larger commitment to capturing market share in India, including building an industrial park in the country for manufacture of phones to Africa.

The IPO comes after Transsion announced its intent to go public and filed its first docs with the Shanghai Stock Exchange in April. 

Listing on the STAR Market will put Transsion on the freshly minted exchange seen as an extension of Beijing’s ambition to become a hub for high-potential tech startups to raise public capital. Chinese regulators lowered profitability requirements, for the exchange, which means pre-profit ventures can list.

Transsion’s IPO process comes when the company is actually in the black. The firm generated 22.6 billion yuan ($3.29 billion) in revenue in 2018, up from 20 billion yuan from a year earlier. Net profit for the year slid to 654 million yuan, down from 677 million yuan in 2017, according to the firm’s prospectus.

Transsion sold 124 million phones globally in 2018, per company data. In Africa, Transsion holds 54% of the feature phone market—through its brands Tecno, Infinix, and Itel—and in smartphone sales is second to Samsung and before Huawei, according to International Data Corporation stats.

Transsion has R&D centers in Nigeria and Kenya and its sales network in Africa includes retail shops in Nigeria, Kenya, Tanzania, Ethiopia and Egypt. The company also attracted attention for being one of the first known device makers to optimize its camera phones for African complexions.

On a recent research trip to Addis Ababa, gpgmail learned the top entry-level Tecno smartphone was the W3, which lists for 3600 Ethiopian Birr, or roughly $125.

In Africa, Transsion’s ability to build market share and find a sweet spot with consumers on price and features gives it prominence in the continent’s booming tech scene.

Africa already has strong mobile-phone penetration, but continues to undergo a conversion from basic USSD phones, to feature phones, to smartphones.

Smartphone adoption on the continent is low, at 34 percent, but expected to grow to 67 percent by 2025, according to GSMA.

This, added to an improving internet profile, is key to Africa’s tech scene. In top markets for VC and startup origination—such as Nigeria, Kenya, and South Africa—thousands of ventures are building business models around mobile-based products and digital applications.

If Transsion’s IPO enables higher smartphone conversion on the continent that could enable more startups and startup opportunities—from fintech to VOD apps.

Another interesting facet to Transsion’s IPO is its potential to create greater influence from China in African tech, in particular if the Shenzhen company moves strongly toward venture investing.

Comparatively, China’s engagement with African startups has been light compared to China’s deal-making on infrastructure and commodities—further boosted in recent years as Beijing pushes its Belt and Road plan.

Transsion’s IPO move is the second recent event—after Chinese owned Opera’s big venture spending in Nigeria—to reflect greater Chinese influence and investment in the continent’s digital scene.

So in coming years, China could be less known for building roads, bridges, and buildings in Africa and more for selling smartphones and providing VC for African startups.


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Africa’s ride-hail markets are hot spots for startups and VC – gpgmail


When it comes to VC, vehicles, and startups, Africa’s ride-hail markets are becoming a multi-wheeled and global affair.

The big players such as Uber and Bolt are competing in Kampala and Nairobi—where in addition to car-service—they offer rickshaw taxis. On-demand motorcycle startups are multiplying and piloting EVs with funds from international partners. And many ride-hail companies in Africa are adapting unique product solutions to local transit needs.

In this analysis, I take a look at the leading startups in the mobility space and how the future of transportation on the continent will increasingly come from new entrants.

Africa’s in the midst of digital innovation boom

Africa’s in the midst of digital innovation boom, the components of which are intersecting rapidly across its 54 countries and 1.2 billion people.

Smartphone penetration is improving and in 2017, the continent saw the largest global increase in internet users—20 percent.

By Partech data, the continent surpassed the $1 billion VC mark in 2018. And greater connectivity and venture funding are fueling thousands of startups in every imaginable sector, including digital-transit.

While reliable markets stats for the size and potential of Africa’s ride-hail markets are sparse, there are some indicators of the sector’s potential.

Car ownership and cars per capita in Africa is among the lowest in the world. Parallel to that, any eyes and ears survey of the continent’s big cities reveals that shared transport by buses, cars, or motorcycles is big business that’s already ingrained in consumer culture. Millions of people daily pay fares to pack onto East and West Africa’s Mutatu and Danfo minibuses and Okada and Boda Boda motorbike taxis.

As Africa continues to urbanize, converts to smartphones, and discretionary consumer spending continues to rise—it all adds up to suggest strong potential for conversion to on-demand mobility services.

Unsurprisingly, the most active markets for ride-hail startups and investment in Africa align with the continent’s top spots for VC and tech activity: primarily Nigeria, Kenya, and South Africa.



10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something