Slow🐌 and furious
Hello Venturer,
What does growth mean to you?
Bigger houses? Faster cars? Fatter bank balance? More Instagram followers? For me, none of these is the answer.
I've learnt not to measure growth by material things. It's the improved ability to create results (including the previous options). We grow when we are better poised to do things we couldn't do before.
That's why I understand the frustration of many Africans. They want to do bigger things, but their home countries haven't grown enough to support their dreams. So they're constantly stuck in yesterday. A clear proof is in the story of Africa's internet.
It's 2022, yet most Africans don't have access to the internet. And for us who do, we struggle with slow internet. While typing this newsletter, I had to alternate between a WiFi router and a mobile hotspot.
Today, the world is adopting 5G to enter a new phase of innovation. But again, Africa is so slow that some fear it might miss this train. Over 40 countries are still stuck in the 3G scene and have no plans for 5G.
So, which countries are trying not to make their citizens slow and furious? Are they finding it easy or struggling? Find out in this week's publication.
Oluwatosin Ogunjuyigbe
Staff writer, Ventures Africa.
What's new?
How far has 5G progressed in Africa?
According to GSMA, 70 countries had 5G networks as of June this year. But this technology has only caught on in less than a handful of African countries. Read more.
Here is what back-to-school is costing Nigerian parents
A stifling economy is causing Nigerian parents in the middle class to improvise their children's school expenditures. Read more.
My Pivot Journal: How Esther Okafor became a quality control analyst at Flutterwave
When Esther started learning about codes, she had no idea tech skills were in so much demand. She simply wanted to gain a new skill to earn a living. Read more.
How two friends left oil money to start a logistics company
After dipping their feet in Nigeria's oil sector, Ujama Akpata and Kikelomo Fola-Ogunniya slid into the logistics business to solve import and export needs with Jand2Gidi. Read more.
Does Africa’s cannabis market need more SPAC listings?
Africa is getting its first listing of a medical cannabis-focused SPAC (Special Purpose Acquisition Company) as Cilo Cybin Holdings has gotten the go-ahead to list on the Johannesburg Stock Exchange (JSE). Does it need more of the same? Read more.
Highlights from Disrupt Africa’s report on the Nigerian startup ecosystem
In the past few years, Nigeria has become the nerve of innovation in Africa, especially in the area of startup funding. As of August 2022, 107 Nigerian startups have raised funding - accounting for around one-third of the continent’s funded startups. Learn more.
Weekly Economic Index: Africa may lose over $25 billion to cyber attacks by 2050
In November 2021, Kaspersky reported that Nigeria, South Africa, and Kenya recorded 81 million cyber attacks in three months, showing how cybercrime is rising along with internet penetration. Read more.
VA BIZ HIVE: The Agric Issue
The need for a technological footprint has given rise to an agritech ecosystem on the continent. Startups in this space are proferring technological solutions to problems faced in the agricultural sector with ultra-modern technologies like drones, automated irrigation systems, soil sensors, etcetera. Read more.
Our weekly collectibles
What do nepotism, bullying, HR malpractice, and live-streamed suicide have in common with the BBC? Find out in Journalism Career Graveyard: The BBC And Its West Africa Problem.
What if you could design any experiment you wanted? Without worrying about money, ethics, logistics, or even the laws of nature? Watch the world-smartest scientist create the experiment of their dreams in the magic wand experiment.
In poker, knowing when to quit is a survival skill that separates elite players from the rest of the pack. How does this apply to life? Learn why quitting is underrated.
Would you like to plan your wedding on credit? Find out how in Marry Now, Pay Later: New Services Put Weddings on Installment.
#VANUGGET
Remember to stay safe!
