A conversation with Mr. Eazi, Spotify and two Congos, the crackdown on cryptocurrencies in Nigeria • Techpoint Africa
Today I am discussing:
- A conversation with Mr. Eazi
- The African expansion of Spotify
- CBN crackdown on crypto trading
Mr Eazi: Artist, tech bro, investor
What do you call an artist, a technical brother and an investor? A global superstar of course.
Meet Oluwatosin Ajibade, aka Mr Eazi, musician of Nigerian origin and founder of emPawa Africa, a talent incubator.
Oluwatosin, thirty years old lived his early years in Sango Otta, Ogun State. The Nigeria-born musician then moved to Ghana for his undergraduate studies before starting his music career in London.
Little known facts: But his journey to international fame begins with an unusual story. Before starting his music career and after graduating as a mechanical engineer, Oluwatosin traded FMCGs and gold before deciding to stick with music.
He also recently made his first foray into the venture capital scene as Zagadat Capital, his company, which has invested in Africa-focused fintech, pawaPay.
Remember this? Nigerian pop artist Mr Eazi to offer fans fairness in his upcoming music
Exchanging jokes and sharing stories, our senior reporter, Nifemi, had a conversation with Oluwatosin Ajibade for the latest edition of The Experts. From the choice of name to possible career changes, Oluwatosin reveals everything in this article: Early Access: Interview with Mr Eazi; artist, technical brother, investor
Spotify launches in two African countries
Let the audio streaming war continue. On Thursday, November 17, 2021, the audio streaming platform Spotify announced its launch in two African countries: the Democratic Republic of the Congo and the Republic of the Congo.
This follows its biggest push to the African continent in February 2021, which saw the launch of Spotify in 41 countries except South Africa, Egypt, Tunisia, Morocco and from Egypt, where he was already present.
According to Phiona Okumu, Head of Music for Spotify for Sub-Saharan Africa, “Since launching in many parts of Africa earlier this year, Spotify has already received a warm welcome across the continent and has expanded its presence. to the Democratic Republic of Congo and The Republic of Congo will help us to further support local artists and foster the local music scene. “
Freemium, Premium: Users can access the platform for free or pay $ 2.99 – 5,997 Congolese francs or 1,736 Central African CFA francs for the Democratic Republic of the Congo and the Republic of the Congo, respectively.
Spotify currently has 381 million Monthly Active Users (MAU) and 172 million Premium Subscribers and is on track to meet its target of 400 MAU by the end of 2021.
However, the company faces fierce competition in Africa from competitors like Audiomack with its unique strategy, Apple Music which has been present in both countries since April 2020, Boomplay, YouTube Music and Deezer. Interestingly, the two appear to have no local platform.
In January 2021, DataReportal revealed that internet penetration in the Democratic Republic of Congo was 23.2% and 32.1% in the Republic of Congo. Given these numbers, it would be interesting to see how the audio streaming wars play out.
A crackdown on cryptocurrencies
In February 2021, the Central Bank of Nigeria (CBN) issued a circular directing banks to close the accounts of people suspected of trading in cryptocurrency. This, however, has seen an increase in peer-to-peer (P2P) transactions, with Nigeria leading the market in the first quarter of 2021.
Fast forward to November 2021, and the story looks a little different. According to Nairametry, the volume of P2P transactions in Nigeria fell 43% after rumors of a CBN crackdown on crypto traders this month.
In a note that would have been seen by Nairametry, a level 2 Nigerian bank has ordered its employees to comply with the CBN directive while listing 20 red flags they should watch out for. These include bank accounts receiving a large number of daily entries from many payees and accounts that function as money changers without CBN authorization.
However, Blockchain Nigeria User Group reported that although there is no law prohibiting people from holding, trading or speculating in cryptocurrencies, it is a criminal act to use them for money laundering. money and other illegal activities.
“Resist any temptation to get involved in a huge volume of inexplicable and questionable crypto transactions. If you are an OTC trader doing a large volume of transactions, be very careful and stop dragging the name of the industry through the mud by collaborating with bad actors to conduct underground Crypto trades.
“Stop helping criminal politicians and government officials loot the treasury and hide the trail of money through Crypto.”
Did you see them last week?
What i read
- The “Piracy” website offers NFT artwork for free download. Read
- Stablecoins: what are they, how they work and how to buy them. Read
- The Saudi women’s rights activist who found freedom and horror on the internet. Read
- Go read this article on how Amazon failed to secure customer personal data. Read
- OkHi is looking for a Product Manager and several other positions. Apply here
- Africa Fintech Foundry has opened applications for its Female Digital Academy. Apply here.
- Experienced customer service representative at Roqqu. Apply here
- PwC is recruiting a partner for its Human Capital team. Apply here
- Lemonade Finance is recruiting a Customer Support Specialist in Nigeria. Apply here
- Pulse Sports is recruiting a Social Media Manager. Apply here
- Tix.Africa is recruiting a backend engineer. Apply here
Have a good week!
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