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Tuesday, 20 December 2022
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Partners
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Good morning!
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The conversation around women's advancement in the tech ecosystem has gotten to the point where advocates have become very clear about how to solve it. It is not just about recruiting women to fill high-profile roles.
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The real work lies in actually giving women a chance to perform the duties and tasks that have been assigned to them. Case in point ARM Labs Lagos Techstars Accelerator, a Lagos-based initiative by Techstars that offers investment, mentorship, and a network to businesses has appointed Oyin Solebo, a woman as its new managing director.
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Her qualifications and years of experience in the field speaks for itself. But it's not time yet to cheer her in this new role. Now, we will wait and watch and see if she's given full reigns to perform.
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| Below are the tech stories and news you need to know to start your day, carefully curated by Technext. |
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Summary of the news
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- Oyin Solebo is ARM Labs Lagos Techstars Accelerator's new MD
- Musk’s Twitter poll says he should step down from the social network’s helm
- Meta could face $11.8 billion fine in the EU over breach of antitrust rules
- SEC has announced commitments to digital assets regulation
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Oyin Solebo named MD of ARM Labs Lagos Techstars Accelerator
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Oyin Solebo’s new position entails overseeing the program’s operations and fostering strategic growth to find the most promising firms and founders while promoting gender equality.
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Jumoke Ogundare, Group CEO of ARM Holding Company said:
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Oyin Solebo joining ARM Labs Lagos Techstars Accelerator Program as Managing Director is in keeping with our aim of rapidly and exponentially boosting the growth of African entrepreneurs. We are confident that her presence on the team will foster the rapid innovation we support in the African startup ecosystem through this program.
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Oyin Solebo said of her new appointment:
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Whilst talent is equally distributed, opportunity is not. Nowhere is this more obvious than on the African continent. The ARM Labs Lagos Techstars Accelerator furthers Techstars’ mission to support entrepreneurs everywhere and give startups the capital and opportunities they need to succeed, regardless of their location or background – and I’m honoured to be leading it.
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Elon Musk’s defeated in CEO poll
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Elon Musk’s own Twitter poll results say he should step down from the helm of the social network, in a referendum that Musk promised to follow after broad criticism of his stewardship of the company, the Washington Post reports.
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The poll closed early Monday morning after 12 hours of voting, with 57.5 per cent of more than 17 million responses calling Musk to step down. He later added, “As the saying goes, be careful what you wish, as you might get it.”
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If Musk follows the results of the poll, it could thrust the company into even more uncertainty. Musk will remain owner of the social network, which would still give him enormous control over its policies.
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But he has not yet said whom he would choose as his successor, and that person could steer the company differently, and perhaps less erratically than Musk has for the past two months.
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Polygon is a decentralised Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing security.
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Meta face $11.8b fine over antitrust rules in the EU
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The European Union on Monday issued Facebook's parent company, Meta, with a list of objections over its online classifieds business, Facebook Marketplace.
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The European Commission, the EU’s executive arm, said that it found Meta breached EU antitrust rules by distorting competition in the markets for online classified ads, CNBC reports.
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The Commission took issue with Meta’s pairing of the Facebook Marketplace service, which lets users list items for sale, with its personal social network, Facebook.
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It said it was concerned this arrangement gives Facebook Marketplace a “substantial distribution advantage that competitors cannot match.”
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Margrethe Vestager, the Commission’s vice president in charge of competition policy, said the tie-up of Facebook with Marketplace gives users “no choice but to have access to Facebook Marketplace.”
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SEC commits to digital assets regulation
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The Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda, said the agency will advance efforts towards developing a comprehensive regulatory framework that ensures that operators in the digital asset space conduct their activities in a manner that protects investors and maintains financial system stability.
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He stated that to develop an appropriate regulatory framework for fintech, regulators need to understand the digital asset space to be better positioned to address identified risks, Nairametrics reports.
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See an excerpt from his speech below:
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The SEC will continue to monitor developments in the digital asset space and further engage/collaborate with all critical stakeholders, including the CBN, to create a regulatory structure that enhances economic development while promoting a safe, innovative and transparent capital market.
We believe that fintech would not only bring about efficiency to the capital market but would also serve as a veritable tool for advancing Nigeria’s Financial Inclusion agenda. However, there is a need to develop an appropriate regulatory framework to ensure the safety of innovation to investors and preserve market integrity.
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Latest in funding
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Other stories we are following
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