BC ECONOMY
Saved by @CodyyyGardner

This is our summary of some of the notable Corporate Deals that affected Nigerian companies in 2020.
 
The thread starts here...

 January 2020
 
@Paga announced investment in Ethiopian-based software development firm, Apposit for an undisclosed amount. The deal gave Paga full access to the expertise of Apposit’s engineers and technicians.
@Flutterwave, a Nigerian payment firm raised a sum of $35m in series B funding, led by VC firms, eVentures and Greycoft. The deal allows Flutterwave to embark on its expansion plans to Francophone and northern African countries.
Also, @Bolt received $55.8m debt financing from the EU Inv. Bank (EIB) in order to improve on technology as well as launch into new businesses.
@AccessBank acquired Kenyan Based TNB for an undisclosed amount.
February 2020
@LeapFrog III Insurance acquired 38.8% major equity stake in AIICO Insurance for N5.28bn. This was a move to boost the capital base of AIICO Insurance.
@AellaCredit secured a $10m debt financing round from Singaporean based, HQ Financial Group. The new capital raise was aimed at facilitating improved financial inclusion across Nigeria, West Africa, and other emerging markets.
March 2020
@Farmcrowdy acquired a majority stake in Best Foods for an undisclosed amount in its bid to explore the meat business.
@FieldIntelligence secured $3.6m in a Series A funding round led by Blue Haven Initiative, Sunu Capital, Accion Venture Lab and Imperial Venture Fund.
April 2020
@UnitedCapital successfully raised a sum of N5.3bn in a Series 1 and 2 CP Issuance.

@DangoteCement also completed the Issuance of N100bn Series 1 Fixed Rate Senior Unsecured Bonds due in April 2025.
US and Nigeria-based startup, @54gene raised $15m in a Series A round from various Investors in order to intensify its effort in the collection of African genetic code.
May 2020

Ride-hailing service @Bolt raised EUR 100m from London-based investment firm Naya Capital.
Nigerian based company, @TomatoJos secured Series A round funding of EUR 3.9m from investment firms. The company hopes to increase the sustainability and stability of food supply in Nigeria.
@HeliumHealth completed a $10m funding round led by Dubai-based firm, Global Ventures and Asia Africa Investment & Consulting (AAIC).
June 2020
@ChipperCash secured $13.8m Series A funding from Deciens Capital, a US-based venture capital and private equity firm.
Energicity Corp closed a $3.25m seed investment led by Sustainability-focused venture capital fund and Ecosystem Integrity Fund.
July 2020
Nigerian based e-commerce platform @TradeDepot raised $10m in a preSeries B equity round, led by Partech, IFC, We-Fi, and MSA Capital.
Nigeria’s JET Motor Company raised $9m funding after creating an electric vehicle.
August 2020
Dangote Cement listed its N50bn Commercial Paper Notes in Series 17 & 18 under its N150bn CP Programme
September 2020
Inq, a subsidiary of Convergence partners acquired 100% stakes of Vodacom operations in Nigeria, Côte d’Ivoire, and Zambia.
Heineken Brouwerijen B.V purchased additional 3.3m units of Nigerian Breweries shares.
October 2020
Global fintech giant Stripe acquired Nigeria’s fintech startup, @Paystack in a deal worth $200m and the biggest M&A deal in Nigerian tech history.
November 2020
@Kuda raised $10m funding led by Target Global alongside Entrée Capital and SBI Investment.

December 2020
@InfraCo Africa completed a $27m equity investment in Nigeria’s InfraCredit with the aim of growing the credit institution.
Download Nairametrics deals book here: https://t.co/O1fGs756zA

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1/


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Thread: Why Kenya and other countries are introducing Digital Taxes? Why now?

Now,the current tax laws & international tax framework (which dates back to the 1920s) was designed at a time when businesses were largely brick-and-mortar (physical stores).Then, it was unimagineable for a biz to operate in another country without some form of physical presence

Thus, in most countries, for a business to be pay corporate tax it has to have some form of nexus there (e.g. Kenya). Either it's registered here, or it's managed from here or it has what we call a permanent establishment (also implies some form of physical presence)

Fast forward to today, there are numerous companies that are able to operate in multiple countries without having any physical presence in those countries. Consider social media platforms or streaming services, with a device, connection & subscription you can access their service

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What a year: 203 essays about degrowth in English since the beginning of March. Here is a selection of some of my favourites. Thank you @fem_degrowth, @beth_stratford, @thedownshifters, @corbinkbarthold, @degrowth_info for these brilliant texts.

THREAD/

https://t.co/1lFaJM52RX

https://t.co/i5HOfZ19r7

https://t.co/DuPSrrqnzz

https://t.co/0ANveWdvFO
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The 6yo doesnt cycle in a complete straight line yet so one of us cycles abreast of him just in case. Lots of drivers waited patiently for a long time before overtaking slowly and safely. Thank you for this. Sudden accelerating engines make the 6yo less likely to stay straight.

Some drivers, sadly not an insignificant number, decided they needed to get past more quickly and more slowly than was safe. Where were they all going to and why the need to be so impatient? It's not like there is anything to get to quickly at the moment.

Drivers coming the other way were generally the biggest threat. The roads were double parked with people using the park (worst I have have ever seen) resulting in narrow road space. Drivers did not slow down to adjust to this or to us cycling alongside the 6yo.

One driver overtaking a parked car had to encroach on to our side of the road. Instead of waiting he pushed out and shook his head at us. Did he think we shouldn't be on the road with a small child or did he just think he had priority? Either way he was wrong.
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