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Crypto Startup Amber Group Closes $100m Funding, Two Other Things And A Trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Crypto startup Amber Group closes $100M

Amber Group, a Hong Kong-based cryptocurrency trading startup has closed a $100 million Series B funding round.

This comes as more mainstream venture capital firms race to become crypto investors despite a global dip in the value of Bitcoin.

According to the company, the new funding takes its portfolio to a pre-money valuation of $1 billion.

Speaking on the latest valuation, the board noted that it is over 300% more than that of the company’s Series A closed in 2019, a $28 million round.

The new raiser saw the participation of high-profile financial and VC firms, including China Renaissance, which led the round, and Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, Sky9 Capital, DCM Ventures, and Gobi Partners.

The startup was founded by a group of former investment bankers in their twenties to apply machine learning algorithms to quantitative trading.

Tech Trivia: How many iPhones has Apple sold?
A. 100 million
B. 50 million
C. 150 million
D. Over 200 million
Answer: See end of post.

2. US PR firm launches mentorship programme for African female founders

C. Moore Media, a New York-based public relations (PR) company, has launched a mentorship programme for Africa female founder.

Themed: The Future is Female Programme, the initiative is a PR and communications mentorship programme dedicated to the business development needs of African tech female founders.

The programme is expected to provide the underserved market of African female founders of early-stage startups with the PR and communications insights.

Also, it hopes to improve participants on knowledge, and skills needed to gain visibility while growing their business.

Hence, the programme is aimed at African women based on the continent or in the diaspora, launching or growing a tech business for African markets or serving Africans in the diaspora.

The initiative comes as the second edition, and female founders will learn insights into the fundamentals of PR and communications for early-stage tech startups.

3. TradeBRICS launches to help buyers source products from African suppliers

South African startup TradeBRICS has announced launching as an e-commerce marketplace where global B2B buyers can source products directly from African suppliers and manufacturers.

TradeBRICS, according to its founder and lead strategist, Shaarad Muharaj, was born after the discovery that there are opportunities in importing directly from foreign manufacturers.

He said: “The lack of demand was due to medium and large corporates importing cheaper goods from Asian countries like China, Vietnam, and Bangladesh.

“There were very similar statistics like this across major African countries who rely on imported goods. We knew that this was the opportunity to create an inclusive, international supply chain for all African businesses to benefit from.”

TradeBRICS entered into the journey in 2018 and got registered later in 2019.

Today, with a 20-strong team, the platform enables African suppliers and manufacturers to find global customers, manage and ship orders, apply for purchase order finance, and accept online and offline payments.

Tech Trivia Answer: Over 200 million

American mobile phone manufacturer, Apple remains one of the leading phone manufacturer and retailer in the world with over 200 million phones sold so far.

According to Piper Jaffray reports on Apple, the phone brand has sold 244.2 million of its brand.

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I Will Soon Start Signing Death Warrants- Bala Mohammed

Bauchi state governor, Bala Mohammed has disclosed that he will soon start to sign death warrants.

Mohammed made this known on Friday in Bauchi while signing the Violence against Persons Prohibition (VAPP) bill and a bill for the establishment of the Bauchi state penal code, into law.

In Nigeria, state governors are legally backed to sign the death warrants.

Since 2012, no governor has been reported to have signed death warrants.

“We will soon be signing some death sentences because there are many and because of justice which has to be taken to a logical conclusion

“I know some governors are running away from signing the death sentences because they exercise restraints on the basis that there may be some element of error.

“But to me, I will leave it to my lord (the chief judge) who will prosecute. It’s not my fault. If it is brought to my attention, I will do it.”

“As for the Violence against Persons Prohibition Act, we know that we are the first in the northern part of the country to enact the law, which is a member’s bill incidentally from the honourable speaker, and it has earned us a lot of respect in the country.

“But because of some noticed gaps, it was taken back and it was corrected. We thank the house for making the corrections.”

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Court Sacks 13 Ebonyi LG Bosses, 171 Councilors

A Federal High Court sitting in Abakaliki has again nullified the Ebonyi Local Government Elections and sacked all the 13 Council chairmen in the state.

The court also sacked all the councilors and 171 ward chairmen of the state.

The court had on Aug. 25, nullified the council polls of May 31.

Ruling on the matter with suit NO: FHC/AI/CS/224/2022 on Friday, Justice Fatun Riman ordered the seizure of the monthly federal allocation of the chairmen pending when rightful Chief Executives were elected into office.

Fatun restated that the councils election by the State Independent Electoral Commission (EBSIEC) on May 31 was illegal and unconstitutional.

Mr Mudi Erenede, Counsel to the plaintiff said he was happy over the judgment and commended the court.

“In the judgement today, the court has agreed that the Ebonyi State High court has no powers to override or set aside the judgment of the Federal High Court because it is not an Appeal Court.

“Those people, who are parading themselves as chairmen are not there legally.

“They were appointed by whoever that appointed them. CBN, Attorney General of the Federation, Federal Ministry of Finance are all defendants in this suits,” he stated.

The counsel to Ebonyi State Government, Mr Roy Nweze, said there was no need responding to a judgment that had already been delivered by the court.

Nweze said that the matter would be appealed without delay.


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Naval College Graduates 245 Officers, Personnel

The newly graduated personnel of the Officers’ Application Course 20 of the Nigerian Naval Engineering College (NNEC), Sapele in Delta, have been urged to remain committed to the service of the nation.

Rear Adm. Monday Unurhiere, the Flag Officer Commanding (FOC), Naval Training Command, made the plea at the graduation ceremony of the 245 Under Training Personnel of the Officers’ Application Course 20 in Sapele.

Unurhiere, represented by Rear Adm. Baratuaipri Iyalla, said that the call became necessary in view of the security, economic and social challenges currently facing the country.

The naval chief urged the graduands to make deliberate efforts to improve themselves on the job by way of taking advantage of modern technology and also tapping into the wealth of experience of their superiors.

“Let me remind you that as officers of the Nigerian Navy, you are charged with enormous responsibility and your unswerving allegiance is to the Nation.

“The confidence reposed in you must not be taking for granted, especially at this time that our national aspirations are being threatened by numerous security, economic and social challenges.

“As such, you may find yourself being called upon to serve beyond your technical capability due to the prevailing situation in the country,” he said.

Unurhiere acknowledged the efforts of the Chief of Naval Staff (CNS), Vice Adm. Awwal Gambo, for creating the enabling environment for training and continued financial support to NNEC.

According to him, this has helped the College to contribute more to the technological advancement of Nigerian Navy and the nation at large.

He urged the graduands, especially the under training personnel, to maintain the current tempo in sustaining training and other naval activities.

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