Tough times chasing the bag in Tanzania 💼👨💼
Hello Venturer,
Cheers to another week of chasing the bag. To constantly push through and make the most of what you do. We all can agree that doing business on the continent is not easy. This is why we can not entirely blame businesses, particularly foreign businesses shutting up shop on the continent. It's tough here.
When it feels like you've got the hang of doing business in Africa, another roadblock pops up. Take popular ride-hailing company Bolt, for example. As popular as it is, the company still has to bow to the dynamics of doing business in Africa. They have had to change their entire business model in Tanzania. All I hear is companies crying, "Help me! Help me! Government regulations dey carry us go where we no know!"
Meanwhile, these policies do not only affect the companies. As a result of the changes in Tanzania, bolt drivers will have their income cut down as they struggle to get new gigs. This means Tanzania's gig economy will also be affected. Imagine hustling to get a car, then signing up as a Bolt or Uber driver to earn an honest living, and boom! The system gets in your way.
This week, writers Oluwatosin Ogunjuyigbe and Adekunle Agbetiloye discuss the ripple effect of Tanzania's ride-hailing policies.
Orufa Suotunimi
Staff Writer
What's new?
Tanzania is going tough on ride-hailing. But who is bearing the brunt?
Bolt, the famous ride-hailing company, has been forced to change its business model following a regulatory policy from the Tanzanian government. The regulatory feud, which started earlier in March, is premised on Tanzania’s Land Transport Regulatory Authority (LATRA) mandates for ride-hailing operators to collect a maximum of 15 per cent commission from their drivers. Read more.
Weekly economic index: 34 African countries are heavily on the heavily indebted poor countries list.
According to the World Bank, there are currently 34 African countries on the Heavily Indebted Poor Countries (HIPC) list. The HIPC list is a joint initiative of the World Bank and the International Monetary Fund (IMF) launched in 1996 and aimed at ensuring that no developing country ever faces a debt burden that it cannot manage. Read more.
My Pivot Journal: Augustina Okonkwo learnt how to tell fun stories with data
Growing up, Augustina Okonkwo wanted to be a techie, but she wasn’t sure which road to follow. But that didn’t go according to plan, as life took her into other fields, making her explore different paths. Today, that journey has come full circle as her experience, hobbies, and skills find expression in data science. Read more.
Identitypass is helping is helping African businesses with digital identity verification.
In Africa, Identitypass, an African compliance and security infrastructure company, is deploying tech to sidestep the lack of digital security infrastructure on the continent. The startup processes thousands of ID and data verifications daily for companies with African customers worldwide. Read more.
William Ruto: Kenya's next president has a heavy job cut out for him.
On the 9th of August, 2022, Kenyans grabbed global attention as they trooped out in the morning cold to their various polling units. As of report time, William Ruto was declared the winner of the elections, and predictably, many disagree with the result. However, while one camp celebrates and the other debates the election results, one thing is certain: Kenya’s next president is resuming a cumbersome job. Read more.
Koolboks closes $2.5M seed round to scale solar refrigeration across Africa.
Koolboks combines Africa’s abundant supply of the sun with water to create a solution that is able to generate refrigeration for up to four days in the absence of power and sunlight. Through efficiently harnessing natural resources, Koolboks has made it affordable to access continuous refrigeration by integrating technology that enables individuals and small businesses to pay as low as 10 dollars a month to own an off-grid solar refrigerator. 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
The New York Times CEO, Meredith Kopit Levin talks about what it is like managing a billion-dollar media company in this interview by Stratechery.
In the early nineties, Subaru wasn't making sales, even though their cars were decent. Find out how the car company took a risk by targeting a group of consumers that everyone else was ignoring in When Subaru came out.
How do your actions and relationships frame your ability to impact, influence and persuade? Explore the six interpersonal strategies of how to interact with people in The art of negotiation.
The world of scents possesses more power than you think. Dawn Goldworm talks extensively about the influence of scents in How to control emotions and influence behaviour.
Did you miss our Twitter Space on how organisations can manage the realities of brain drain? Listen to the recording here. It was quite insightful.
#VANUGGET
Remember to stay safe!
