- Shamba Pride raised $3.7 million in pre-series A funding to assist Kenyan farmers
- NIMC temporarily halts third-party agents from NIN registration
- Central Bank of Nigeria announces date for first interest rate meeting in February
- Nigerian-based startup raises $2.3 million fund
- PwC Survey reveals 5% of the global workforce will lose jobs to AI
Shamba Pride raised $3.7 million in pre-series A funding to assist Kenyan farmers
Shamba Pride, a Kenyan agritech startup, has managed to raise $3.7 million to enhance the distribution of farm products and solve problems faced by farmers in Kenya and other nearby African countries.
After receiving the pre-series A funding, Shamba Pride has modified its company plans to spread its wings within other counties, connecting with other retailers and agricultural areas.
The $3.7 million pre-series A funding was achieved by EDFI AgriFI and Seedstars Africa Ventures, which also includes $1.7 million in equity.
With its merchant network, digishops, Shamba Pride has reached 2,700 agro-dealers in 24 Kenyan counties.
NIMC temporarily halts third-party agents from NIN registration
The National Identity Management Commission (NIMC) has temporarily suspended third-party agents from registering Nigerians for the NIN ahead of the Central Bank of Nigeria’s (CBN) deadline.
The third-party agents referred to in this case are the Front-End Partners (FEPs) who actively enrol Nigerians for National Identification Numbers.
The directive to suspend third-party agents came from the NIMC’s Director-General, Abisoye Coker-Odusote, at a training session for validated FEPs in Abuja.
This announcement was made two months before the CBN’s deadline for the E-validation of BVN by January 31.
Central Bank of Nigeria announces date for first interest rate meeting in February
The Central Bank of Nigeria has set up a meeting to discuss the rate hike in February 2024. The meeting will be the first since July 2023.
In December 2023, the Governor of CBN, Yemi Cardoso, stated that the monetary transmission tools had left the rate meetings greatly ineffective.
Monetary Policy Committee meetings created the interest rates, which is a tool which the CBN utilises in controlling inflation.
The CBN has proposed to have six rate meetings throughout the year 2024, according to the calendar released by the apex bank.
Nigerian-based startup raises $2.3 million fund
Canza Finance, a Nigerian-based cryptocurrency startup, has successfully raised a $2.3 million round to help develop its DeFi products, including the recently launched Baki.
Polychain Capital widely led the $2.3 million round, while the others involved were 99 Capital, Hyperithm, Stratified Capital, Blizzard Fund, and Protocol Labs.
Two years ago, Canza Finance raised $3.2 million in a seed round to provide crypto-based services in Nigeria and within Africa.
PwC Survey reveals 5% of the global workforce will lose jobs to AI
A PwC Survey recently revealed that roughly 25% of the world’s Chief Executive Officers (CEO) will execute a plan to lay off 5% of their workforce due to the growth of artificial intelligence (AI).
The report, shared on January 15, was accumulated through responses from 4,700 CEOs across 105 countries, and almost one-third of the world’s CEO-listed generative AI as the next best thing.
“Although 14% of technology CEOs anticipate reducing headcount in the next year due to generative AI, 56% also anticipate hiring in 2024,” the report reads.
The report states that industries like banking, entertainment, media, capital markets, and insurance are more prone to laying off their staff and embracing generative AI. In contrast, sectors like construction, engineering, technology, mining and metals are less likely to lay off their staff over generative AI.
Ayomitide Adeyinka is a content writer, crypto journalist and editor with a Bsc in Political Science. He is also an egalitarian.
