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Crowdyvest Attracts New Investors and Appoints Tope Omotolani as CEO

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Crowdyvest Limited, an impact-driven fintech platform, launched in 2019 by Onyeka Akumah and four other Co-Founders has today announced a big change in its leadership and additional investment in the company, in a bid to scale up as a digital savings company.

Crowdyvest was created to provide all-in-one financial solutions for individuals and businesses to achieve short or long-term goals while facilitating impactful growth in line with the United Nations 17 Sustainable Development Goals. The Fintech company went live in beta-stage in August 2019 but launched fully as a crowdfunding platform in January 2020 where its users and sponsors can sponsor high-impact opportunities that yield good benefits through its pooled sponsorships and individual projects.

Today, however, the company announced Onyeka Akumah will officially step down as the CEO of Crowdyvest and Tope Omotolani who is currently the Managing Director and also a co-founder, will become the new Chief Executive Officer of the startup, effective immediately. Notwithstanding this change in leadership, all the management and staff of Crowdyvest will be retained. And as a result of the new investment in Crowdyvest, the fintech startup will completely exit the EMFATO Holdings group and also transition from its previous crowdfunding model to making strides as the go-to digital wealth management and savings platform under Tope’s leadership.

Onyeka Akumah speaking on this development said, “I have taken this decision to step down as the CEO of Crowdyvest as a result of the new investment in the company which gives it good footing for scale. Today, Crowdyvest is exiting fully from EMFATO Holdings and we are very happy about the new investors led by Tope, and excited to see how Tope will lead this business to new heights. I will now focus more on leading Farmcrowdy and Plentywaka as CEO of both companies into new markets in 2021. Tope is a strong and amazing leader and I see her leading Crowdyvest to become one of the leading wealth management companies in Nigeria within the next 3-5 years. I wish her and the team all the best and will continue to advise them on their journey when needed’’.

The new CEO, Tope Omotolani also said, “It’s an honor and a privilege for me to be able to lead the team to the next level and next chapter of the business. Onyeka founded this company on the ethos of integrity and strong customer satisfaction and I’m grateful for the opportunity to continue to lead this technology company into it’s next chapter. Our major goal and focus as Crowdyvest is that we see a lot of people become financially free and we’re able to do this by the products that we create on the platform”.

The emergence of female leaders has become a centrifugal force for good in the world and many organisations. For the first time, we’re seeing examples of female leaders emerging from across the generations to cross-weave their knowledge and drive for change and Crowdyvest is joining the wave of change having a Female Leader and CEO.

Crowdyvest is today launching the Crowdyvest Savings Platform to give savings options to over 10,000 subscribed members on it’s platform. This savings platform will give its members a variety of plans to help build a savings culture based entirely on their pace, so they can reach their life goals faster.

This savings platform has four products that are properly tailored to fit all categories of individuals, including the Millenials, Gen Z, Gen X, and Baby Boomers, and each of these products have their unique features and benefits. They are;

Flex Savings which speaks to our young and trendy Gen Zs and Millenials, gives them the opportunity to save as much as they like with the option of withdrawing their money at any time during the year with a withdrawal fee of 2%. The Flex savers also have the opportunity of 7 official withdrawal days which comes without a withdrawal fee.

Vault Savings here, users have the opportunity to safely deposit money into their vaults and lock it for a period of time (3 months, 6 months, or for years). Funds deposited in the vault will be locked and ineligible for withdrawal throughout the locked period. The vault savings is for long-term savings and is targeted at pensioners, trust funds savings, legacy savings, etc.

Pace Savings, savers have the opportunity to deposit money as they wish for a set target. The pace savings option is recurring starting with the least period of 3 months. The money can be deposited automatically into the plan or manually based on the saver’s preference. The plan is targeted at salary earners, entrepreneurs, etc.

Flex Dollar Savings gives savers the opportunity to save and earn returns in dollars. Crowdyvest Members have the opportunity to grow their savings in a more valuable & stable denomination.

Every saver enjoys the benefits of good interest rates from 12.5% to 15%, zero bank charges, plans tailored for everyone, and effective and prompt customer service. We also have referral opportunities where you can earn as much as NGN 1000 for every person you refer to Crowdyvest. For more information, visit the Crowdyvest website.

Previously as a crowdfunding platform, Crowdyvest was able to create an impact by funding 24 projects across various sectors including Agriculture, Real Estate, Transportation, etc, has worked with 9 project partners, has operated in 17 states with over 10,000+ active sponsors, over 90,000+ total users, and over 8,000 Monthly Active Users. Today, the company is a Digital Savings platform with closed membership, Crowdyvest will provide financial solutions for her community of individuals and organizations that are committed to long-term growth and financial freedom.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Behind Closed Doors: Microsoft’s Bid to Make Bing Apple’s Default Search Engine

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Insiders have disclosed that Microsoft Corp. engaged in discussions with Apple Inc. around 2020 about potentially selling its Bing search engine.

The proposed deal aimed to replace Google as the default search engine on Apple devices, particularly iPhones.

People familiar with the matter, who chose to remain anonymous, disclosed that high-level executives from Microsoft held exploratory talks with Eddy Cue, Apple’s services chief, responsible for the existing search engine partnership with Google.

Despite these discussions, the deal never progressed beyond preliminary stages. This revelation has gained renewed attention in light of the ongoing U.S. Department of Justice antitrust trial against Google, in which Apple and Microsoft are actively involved. The Justice Department is using Apple’s arrangement with Google as evidence of Google’s search market dominance.

Apple’s Eddy Cue defended the collaboration during his trial testimony, asserting that Google was the superior search option, emphasizing the quality of Google’s technology.

Apple’s partnership with Google, initiated in 2002, had grown to become highly lucrative, earning Apple between $4 billion to $7 billion annually by 2020.

This financial aspect, coupled with concerns about Bing’s competitiveness, played pivotal roles in Apple’s ultimate decision not to acquire Bing.

While Bing was briefly used as the default search engine in some Apple features between 2013 and 2017, including Siri and Spotlight, Google ultimately remained the preferred choice. In court, it was revealed that Microsoft had considered a multi-billion-dollar investment in its relationship with Apple in 2016, but this attempt was unsuccessful.

Eddy Cue’s testimony underscored Apple’s belief that Google’s search technology was unmatched, signaling that Apple had no plans to develop its own search tool.

This differs from Apple’s approach in other areas, where it competes directly with Google in mapping software, voice assistants, and operating systems.

In retrospect, Apple’s dalliance with Bing serves as a fascinating chapter in the tech giants’ intricate web of partnerships and rivalries.

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Technology

iPhone 15 Pro and Pro Max Owners Complain of Overheating Issues

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Some of the first owners of Apple Inc.’s latest offerings, the iPhone 15 Pro and Pro Max, are feeling the heat – literally.

Reports are pouring in from frustrated customers who claim that their new devices are prone to overheating during usage and charging, casting a shadow over Apple’s flagship product.

Complaints have flooded Apple forums and social media platforms, with users expressing concern over the device becoming uncomfortably warm while gaming, making phone calls, or using FaceTime.

The issue appears to be exacerbated when the phone is plugged in for charging.

Apple’s technical support staff have been inundated with calls on the matter and have been directing customers to an older support article on managing hot or cold iPhones.

This notice suggests that overheating may occur during intensive app use, charging, or initial device setup.

Apple, headquartered in Cupertino, California, has remained tight-lipped regarding these complaints, leaving users speculating about the root cause of the issue.

As the iPhone accounts for a substantial portion of Apple’s revenue, any product flaws are scrutinized intensely. While some problems can be resolved through software updates, others may fade with time. Apple usually subjects its products to rigorous testing to catch potential pitfalls before mass production.

The overheating issue could be related to the iPhone setup process, which can be processor-intensive, particularly when re-downloading apps and data from iCloud.

Users have also suggested that certain background apps, such as Instagram or Uber, might exacerbate the problem.

Videos of users measuring the phone’s temperature with thermometers have surfaced online, with one user reporting, “iPhone 15 Pro Max gets really hot easily.”

However, it’s not a universal problem, as some users have reported no issues or found that using a protective case mitigated the heat.

This development follows recent complaints about the FineWoven material used in iPhone 15 cases, highlighting potential quality concerns with Apple’s latest product offerings.

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E-commerce

TikTok Faces Regulatory Storm in Indonesia as Minister Calls for E-commerce Split

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Teten Masduki, the Indonesian Minister of Cooperatives and Small and Medium Enterprises, has emerged as a vocal critic of the Chinese-owned social media giant TikTok.

Masduki’s relentless complaints about TikTok’s dominance in the Indonesian e-commerce market have set the stage for a seismic regulatory shift that could have far-reaching consequences.

Masduki, a former activist who once took on government corruption, has been disrupting official meetings to raise concerns about TikTok’s impact on local players. This groundswell of criticism has culminated in sweeping regulations that force TikTok to split payments from shopping in Indonesia, a move seen as a significant blow to TikTok’s e-commerce aspirations.

Under these new rules, social media companies in Indonesia are barred from handling direct payments for online purchases, effectively requiring TikTok to either create a separate app for payments or risk being shuttered in Indonesia entirely.

The regulations, stricter than anticipated, have already had a chilling effect on the e-commerce market, benefiting local champions like GoTo and Sea.

While TikTok has pushed back, arguing that the separation of social media and e-commerce hampers innovation, the Indonesian government remains firm in its stance, aiming to protect smaller enterprises and voters as elections loom on the horizon.

This clash underscores the challenges TikTok faces in its pursuit of e-commerce dominance and sets a precedent for other countries in the region. As TikTok’s meteoric rise in regional e-commerce continues, governments are increasingly assessing whether the platform benefits or harms domestic merchants.

For TikTok, the challenge lies in finding a solution that appeases authorities while allowing it to continue its growth. The repercussions of this battle in Indonesia could reverberate throughout Southeast Asia and beyond, shaping the future of social media-driven e-commerce.

In a rapidly evolving digital landscape, Teten Masduki’s bold stance against TikTok may just be the opening salvo in a much larger struggle for control of the e-commerce arena.

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