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ideas have consequences

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AllAfrica News: Latest
All Africa, All the Time.


Forbes  Business Magazine  reported that " Paystack, one of Nigeria's most hotly anticipated tech start-ups, has just secured $1.3M Seed investment from both international and homegrown investors. The company, founded by Shola Akinlade and Ezra Olubi, initially caught the eye of industry commentators as it was one the first Nigerian tech company to be accepted into the world-famous Y Combinator progam, based in Silicon Valley. Since then, having taken Paystack through Private beta, and securing $120,000 early-stage investment from Y Combinator, Akinlade [CEO] and Olubi [CTO] have quietly been building the company, working to secure this Seed investment round, whilst also building a network of partner merchants in Nigeria, over 1,500, who are now using the platform to accept online payments."




The statement said Paystack’s platform solved the considerable challenges of online payment transactions in Nigeria by seamlessly connecting all multi-channel payment options with merchants across the country. It allows merchants to accept payments from around the world via credit card, debit card and bank transfer on web and mobile.



Paystack is “platform agnostic”, meaning it does not favour one payment platform over another, which the company said was unique in the “very fragmented” African fintech landscape.
Merchants who sign up for Paystack can receive live payments from customers within 30 minutes of integration and the product allows for recurring billing, it added.


Launched in 2015 by Shola Akinlade and Ezra Olubi, the company runs its operations from Silicon Valley and Lagos, Nigeria. The statement said plans for the funding included building the engineering team in Lagos, expanding sales and marketing operations and accelerating product development.


Akinlade, Paystack chief executive, said: “We have built and refined a product for Africa that we hope will act as a catalyst for the continent’s online economy.“We know Africa’s digital economy has potential, many billions of dollars of potential, we simply need to unlock it and make businesses work better, faster and more effectively. Paystack will do this.”



Many Nigerian youths are making  breakthroughs on technology starups and innovations.  The bright side of Nigeria's declining economy attracted Facebook founder Zuckerberg to Nigeria earlier this year.



"As Techpoint, a Nigerian tech blog, reported, more than fifteen managers and executives of Nigerian background work with and around Zuckerberg at the world’s largest social networking site, occupying a range of high-profile roles. Among the most prominent are Emeka Afigbo, who handles strategic product partnerships for Facebook in sub-Saharan Africa and Ime Archibong, Facebook’s director of strategic partnerships. Back in May, Archibong and Afigbo led a Facebook delegation to launch the company’s Free Basics—a service that aims to help more people access the internet at no cost—in Nigeria. Afigbo, in particular, is said to be one of Zuckerberg’s trusted advisers on growing the company in Africa. He’s believed to have influenced Zuckerberg’s decision to back Lagos-based coder training center Andela. Before Facebook, Afigbo and Archibong worked at Google and IBM respectively."

 

credits:  ANA, Forbes, Quartz

Africa is rising! It happened first in Nigeria, then Benin Republic, Zambia, Guinea and now Gambia.  What all these nations have in common is the concession of power by their  respective presidents in democratic elections.


President Yahya Jammeh, the strongman who has sternly ruled Gambia for longtime of 22 years has conceded defeat to opposition leader Adama Barrow, and have accepted that the people have "decided that I should take the back seat".



President Jammeh, who came to power in 1994 as a 29-year-old army officer following a military coup, had won four previous polls. But this time around the opposition  leader Adama Barrow defeated him in a peaceful election. This will mark the first in the history of Gambia that power is transfer peacefully without violence. Gambians voted by placing marbles into drums marked with names and pictures  of each candidate.



Addressing the people of  Gambia on the state  television late on Friday, Jammeh congratulated Barrow for his "clear victory", saying: "I wish him all the best and I wish all Gambians the best."


Image result for Adama BarrowVictorious opposition leader Adama Barrow



Jammeh continued: "If [Barrow] wants to work with us also, I have no problem with that. I will help him work towards the transition," he said, confirming that he would not contest the result. Barrow's victory in Thursday's presidential election brings to an end Jammeh's 22-year rule.




Former Nigerian president Goodluck Jonathan commended President Yahya Jammeh of Gambia for conceding defeat to opposition leader Adama Barrow.  His words:


‘I commend President Yahya Jammeh for conceding to Mr. Adama Barrow, who won majority votes during Gambia’s Presidential election. This is an exemplary conduct which is worthy of emulation and Africa is very proud of Mr. Jammeh. In the eyes of many, myself included, he stands taller today than at any other time during his twenty two years in office. It is my hope that his legacy of advancing the progress of The Gambia in all fronts over the years will be remembered and appreciated by all.”



The former president Jonathan started this prevailing trend in Africa by conceding to President Buhari in 2015. And he was recommended for Nobel Peace Prize for averting violence and bloodshed in Nigeria.

 

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