I had a really good conversation with the team at @THISDAYLIVE about how African tech founders can build solutions that are actually designed for African problems, instead of adapting what works somewhere else and hoping it fits.
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Akinmade Akinrinmade: African Tech Must Start With Local Problems. Vanessa Obioha For over two decades, Akinmade Akinrinmade has worked across various industries where decisions have real consequences. From government and healthcare to... https://t.co/egUABXwzL7
One of the biggest lessons I have learned from building AsteriskRD Tech is that innovation is not only about creating new technology. In fact, technology is often the easier part.
Read my thoughts in my latest LinkedIn article #InnovationNotes ๐๐ฟ
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I've seen brilliant teams spend months refining features while ignoring their business model, customer economics, operating model, governance and market positioning.
They eventually learn that a great product cannot rescue a weak business.
MANGO.
The acronym for the 5 AI focused companies.
It stands for Microsoft, Anthropic, Nvidia, Google DeepMind, and OpenAI.
In case you donโt already know.
This is why we've been saying government policy needs to move with the times.
Using old regulations to control modern platforms only creates confusion, scares away investors, and ends up hurting the same entrepreneurs the government is trying to support.
Hi @jidesanwoolu, @hanneymusawa
I'm deeply disappointed in your @lirs_govng team hounding Selar in the name of claiming creator royalty taxes. I turn 30 in Oct and I've spent the last 10 years building Selar, so this is what the youth mean by policies being created to crush growing businesses. We are the pioneering and largest creator company in Nigeria (Africa actually), and instead of being supported by the government, the LIRS team is keen on trying to scapegoat us to set a precident.
Beyond the huge numbers seen in the headlines, we are still a young company just trying to make our mark for the creator economy in a country where we've never been supported once, we're literally a bootstrapped company. In 2025 alone, we've fulfilled our tax obligation in almost 9 figures and we've never missed out on any of our tax obligation over the years. You can check the records.
We are a software company, we make our ecommerce software available to our thousands of creators in not just Nigeria but 13 other African countries and for that, we earn a small commission of 4%, most of which goes to our payment provider. This is the same business as shopify, teachable, e.t.c There is no reason LIRS is hounding us for a backdated 5% royalty fee on all sales when we've clearly explained our line of business to them and shared everything to prove we are not a royalty based business.
What they're asking us to do is raise our pricing to extort these funds from our creators which is odd considering our creators still pay taxes on their income. No creator company in the world charges as high as even 5%.
Also, less payment gateway charges we get 1-3% max, so where do we pay backdated 5% fees from?
The government would have to decide if it wants the Nigerian creative economy to grow or not.
This conversation is important to me because we pioneered this industry of monetizing digital products online in Nigeria and today we host over 400k creators selling using our platform.
This is an opportunity for the government to show it's committment to making Nigeria work for young Nigerians especially in the creator economy.
Time and money we should be spending investing into our business and it's growth for the GDP of this nation is being spent in long back and forth.
We can't catch up with the west if this is what we're facing at home. Above everything else, disputes like this are distracting from the real work.
If anything, for all our CSR contributions to the education system in the country with our Smart Hustle Anti fraud initiative and our other efforts, we should be getting tax rebates, but we're not even asking for anything but to be left alone to build our business.
Thank you.
People like to think startups fail because the idea wasn't good enough. Most times, that's not it.
The real problem is that founders make avoidable mistakes right at the beginning.
By the time they realize it, they've already spent too much time, money, and energy.
"If a man does not keep pace with his companions, perhaps it is because he hears a different drummer. Let him step to the music which he hears, however measured or far away."
โ Henry David Thoreau
๐จ๐ฟโ๐ TC Daily โ Openview and watch ads
South Africa's eMedia has launched a platform that lets users watch content for free, but with one catch: they must view ads.
Read more on today's newsletter ๐
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