Netflix to Stop Password Sharing in March

Tech Top 5 News

Netflix recently announced its plans to start cracking down on subscribers who share their password by the end of March 2023.
Back in October, the streaming giant said it would begin charging subscribers who share their accounts but did not give a specific date or information for when the new policy would be enacted. 
Netflix shared during their shareholders’ meetings last week that they recognise this is a drastic change for members who share their subscriptions with others.
There are also plans to make password sharing a bit complicated for users and might include an additional fee.
 It said on its website that the company uses “a person’s geographic location, IP addresses, device IDs, and account activity from devices signed into the Netflix account” to determine which devices are in the same household. 
The company told investors last week that it would roll out more stringent sharing rules by the end of March. More than a hundred million households currently share Netflix passwords, the service said. 

The company said that “undermines our long-term ability to invest in and improve Netflix.”
It added, “As we roll out paid sharing, members in many countries will also have the option to pay extra if they want to share Netflix with people they do not live with. As is the case today, all members will be able to watch while travelling, whether on a TV or mobile device,’’ the company said.”
However, Netflix assured shareholders that, despite the recent changes, engagement will grow “over time as we continue to deliver a great slate of programming and borrowers sign-up for their own accounts.”

 myPiitch becomes Alternative Video Platform for Jobseekers
As hiring shifts towards virtual interviews, more candidates are jumping in front of the camera to boost their odds of landing their dream jobs.
myPiitch has become the latest startup to digitalise the recruitment process through its innovative video-based solution.
It offers one-stop solutions for recording, editing, and submitting video resumes.
Recruiters and hiring managers can find people like no other platform does using video resumes.

Jobseekers can now check their job application status at a single glance and know what to expect from each stage of their job application journey.
They also get feedback from employers at every stage of the application process.
For employers, myPiitch vows to eliminate the need for costly applicant tracking systems through its enterprise platform, enhancing the hiring experience. The old approach of reviewing piles of CVs and screening numerous candidates over an extended period is gone.
It saves employers valuable time and costs. Operating across multiple geographies and industries, it also provides employers with an opportunity to connect with a diverse range of quality talent.

Through tailored video CVs, applicants have a better chance of displaying their skills and talent. With an increasingly competitive job market, template-based recruitment systems and paper CVs are becoming a less efficient and time-consuming method for hiring, as jobseekers are often frustrated by the cumbersome process and limited feedback from potential employers.
The myPiitch app is available to download on Google Play and App Store. Once signed up, users can create a profile and record a 60-second video bio highlighting their personality and skills.

FEC Approves Nigeria Data Protection Regulation
The Federal Executive Council (FEC) has approved the Nigeria Data Protection Bill for transmission to the National Assembly.
The bill seeks to give Nigerians full legal backing in protecting their data and will replace the current Nigeria Data Protection Regulation (NDPR).
The National Assembly emphasised the importance of having a data protection law in the country. Last year, they also promised to give the bill an accelerated passage once sent to them by the executive.

Confirming the development, the head of the Legal, Enforcement & Regulations (NDPB), Babatunde Bamigboye, said the bill will now be transmitted to the National Assembly as an executive bill through the office of the minister of justice and attorney general of the federation.
President Muhammadu Buhari approved the establishment of the Nigeria Data Protection Bureau on February 4, 2022.

The bureau was mandated to implement the Nigeria Data Protection Regulation (NDPR) and to coordinate the passage of an enabling Act for data protection.
The central objective of the bill is to safeguard the fundamental rights and freedoms and the interests of data subjects, as guaranteed under the Nigerian Constitution, by providing for the regulation of the processing of personal data, promoting data processing practices that safeguard the security of personal data and privacy of data subjects; ensuring that personal data is processed in a fair, lawful and accountable manner.

Report: Debt Financing Spurs Growth for African startups
Last year, African startups doubled the debt they raised last year, a surge that may continue as an economic slowdown makes equity funding more expensive and unsustainable.

According to reports by Bloomberg, companies on the continent raised $1.55 billion in seventy-one debt deals in 2022, suggesting it’s become a solid alternative source of capital for African technology startups.
The growth in debt financing has been reported to continue in the next couple of years.
A study by venture capital firm, Partech also noted that the surge helped the African technology sector become “one of the very few, if not the only, VC markets to boost net growth funding in 2022.”

VC funding grew eight per cent to $6.5 billion in Africa. Globally, it fell 35 per cent last year, according to the firm’s annual survey of startups that have most of their operations in or get the bulk of their revenue from the continent.
The leading investment locations in Africa continue to be Nigeria, South Africa, Egypt, and Kenya, with a percentage of the overall volume remaining constant at 72 per cent. Despite a fall of 36 per cent from 2021, Nigeria maintained the top spot, attracting $1.2 billion in funding; South Africa, Egypt, and Kenya each received over $0.7 billion in funding; Ghana rounded out the top five with just over $0.2 billion. In total, twenty-eight nations received equity funding in 2022, with thirteen being in Francophone Africa.

The report found that the number of active debt investors on the continent is growing 2.5 times year-on-year, with a good mix of local debt institutions, international lenders, and development finance institutions.

 TAP Provides Cashless Fare Collection Technology for Lagosians
Nigerian fintech company and a leading processor of micro-transactions in Africa, TAP, recently announced that rail passengers across Lagos could access the newly launched Blue Rail Line using TAP’s contactless Cowry card. 
TAP was the first payment company in Nigeria to provide payment infrastructure that allowed contactless payment cards to be used on buses and ferries.
Founded in 2019 by Olamide Afolabi, Kabir Yabo, and Michael Oluwole, the company continues its record of innovation by enabling contactless payment cards to be used on trains in Nigeria.

The partnership with the Lagos state government enables lagosians to use the Cowry card across the 13km of tracks proposed for the project. The first phase of the track, from Marina to Mile-2, supports 200,000 daily passengers, who can now seamlessly enter and exit stations through TAP’s state-of-the-art turnstiles. Upon completion, phase two, from Mile 2 to Okokomaiko, will enable up to 500,000 daily passengers to manoeuvre between stations rail, bus, and ferry easily. 
Riders touch their Cowry cards against the tempered glass-protected state-of-the-art turnstile validators, which use near-field communication (NFC) technology to enable communication between cards and the automated collection points. TAP’s pay-as-you-go card dramatically lowers fare evasion. Unlike riders on other lines, the 500,000 daily passengers using the blue rail line will not have to endure the old, arduous procedure of manually examining their tickets. Turnstiles will operate at Alaba, Marina, National Theatre, Mile 2, and Orile.

Tech Personality of The Week

Fara Ashiru Jituboh

This week’s tech personality is the CEO/CTO and co-founder of Okra, Fara Ashiru Jituboh.
Okra is Africa’s first API “super-connector,” which allows the secure exchange of real-time financial information between customers, applications, and banks. It is targeted at developing the infrastructure for Africa’s next stage of fintech innovation. Jituboh cofounded Okra with David Peterside in 2019. However, the company launched in January 2020.
The Nigerian-based startup has already connected with all of Nigeria’s commercial banks and the likes of Branch, AIICO Insurance PLC, Travelstart, Bamboo, and Renmoney. 
According to Jituboh, they invest in infrastructure, and while banking portals do not come to mind as readily as cellphone towers when one thinks of infrastructure, they are an equally important part of the foundation needed for a vibrant digital economy.
In 2020, the startup secured a $1 million pre-seed funding round from TLcom Capital.