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 Dakar, Senegal                    THE DIGITAL REFUGEE EDITION                        @janehahn   
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QUOTE OF THE DAY                                                                    Monday, April 3rd, 2017


 
“Digital refugees" - How some Cameroonians describe themselves, after 77 days with no internet access. Internet refugee camps are becoming the new thing. Repeat after me...#Bringbackourinternet

MENTAL FLOSS



LET'S GET DOWN TO BIZ : ONE THING YOU SHOULD KNOW THIS WEEK

Africa's Most Valuable $tartup Ecosystem



Wondering where to go for the best jollof rice and fried plantains...
Lagos, Nigeria. And according to a new report by Startup Genome, Lagos is also the place to be if you're a tech entrepreneur looking for ca$h money aka seed funding. With a population of over 20 million people, Lagos' startup ecosystem is worth US$2 billion, making it the most valuable ecosystem on the continent. It's no Wonder Yaba (a tech hub in Lagos) has been dubbed the "Silicon Valley of Africa."

You know you're doing something right when...
Mark Zuckerburg takes you out for lunch. Sometime last year, the Facebook founder visited Lagos for the first time. His mission? To meet with local developers and entrepreneurs, and to learn about the startup ecosystem in Nigeria. His first stop was the Co-creation Hub Nigeria (an incubation space in Yaba), where he talked to kids at a summer coding camp and met with dynamic entrepreneurs looking to launch their apps.

What this means for African techies...
If you're innovative and hungry, it pays to be in Naija. Lagos-based startups raise more money in early stage funding than entrepreneurs elsewhere in Africa. In fact, they raise an average of $77,800 per startup, compared to $10,400 for startups in Johannesburg. Like it or not, the entrepreneurial energy of Lagos (with its 400-700 startups) has turned this city into a hot spot for investment dollars. Take me there, I wanna go there.
Sources: QUARTZ/ TECHCRUNCH

WHAT'S TRENDING                                          


The rise of the African middle class
 
Sources: AFRICAN DEVELOPMENT BANK, DELOITTE

AFRICAN MARKETS                                               


 

Winners: Botswana, BRVM, Mauritius, Nigeria, South Africa, Tanzania, Uganda, Zambia, Zimbabwe.

LosersEgypt, Ghana, Kenya, Morocco, Malawi, Namibia, Rwanda, Tunisia.

Dow Jones Africa Titans 50: 507.25 (-2.24%)
Sources:  AFRICAN MARKETS/ YAHOO FINANCE

WHAT'S HAPPENING                                                


  • Geeks on a plane Africa tour: March 20 - April 2 @ Lagos, Accra, Johannesburg, Cape Town
  • LSE Africa summit: March 31- April 1 @ London, UK
  • African private equity and venture capital conference: April 3-7 @ Abidjan, Ivory Coast
  • Africa innovate conference: MIT Sloan Africa Business Club. April 7-8 @ Cambridge, USA
  • Demo Africa tour: April 10-12 @ Lagos, Nigeria

RANDOMOSITY                                               


After cutting up his US green card, Nobel Laureate Wole Soyinka is moving to South Africa to "Africanize Knowledge."


Best wishes for an awesome week ahead. Please send your photos, comments or mobile satellite internet to anim@baobabbiz.com. Remember, "Wisdom is like a Baobab treeNo one person can embrace it, but a tribe can" - African Proverb.  


Till next time!
Cheers,



PS: Shout out to Kwabena and Trayc, reppin Ghana in the U.K.

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