Kwara, a Kenyan startup that is assisting in the transformation of traditional savings cooperatives into modern digital banks, has raised a US$4 million seed funding round to advance the development of its neobank app ahead of its upcoming release. Kwara, founded in 2018 by Cynthia Wandia and David Hwan, is a digital banking platform that…
Visa, the world’s largest payment processor, launched a global crypto advisory service for clients such as banks and merchants on Wednesday, as the adoption of digital currencies accelerates. Visa’s move comes amid unprecedented investor demand for cryptocurrency services, and the company’s latest offering is aimed at financial institutions looking to attract or retain customers with…
Google announced Tuesday that it is shutting down a network of approximately one million hijacked electronic devices used worldwide to commit online crimes, as well as suing Russia-based hackers the tech giant claims are to blame. The so-called botnet of infected devices, which was also used to stealthily mine Bitcoin, has been cut off from…
According to The Information, Apple CEO Tim Cook signed an agreement with Chinese officials worth approximately $275 billion to avert threats that would have hampered the company’s devices and services in the country. Apple did not immediately respond to a request for comment from Reuters. The five-year agreement was reached during Cook’s visits to China…
Africa No Filter, a narrative change organization, and Meta, formerly Facebook, have announced a collaboration to launch the “Future Africa: Telling Stories, Building Worlds” program, with the goal of increasing the use of Virtual Reality in African storytelling. The program will provide grants and mentorship to help Extended Reality storytellers create new and compelling content…
Conciliating innovation and regulation is perhaps the single most significant source of concern for tech titan leaders and startup founders worldwide. This is more common in Africa, where regulatory cultures frequently stifle innovation. For example, in Nigeria’s fintech space, innovation has accelerated in recent years, with at least three unicorn startups launched during this time…
Mastercard has reaffirmed its commitment to the UAE and the region by expanding its regional footprint and announcing a series of leadership changes designed to advance the company’s presence and operations while building on its 35-year growth and innovation journey. Mastercard has been at the forefront of digital transformation and payment technology innovation during this…
Over the last year, there have been several changes in the economies and structures of African countries. Due to the COVID-19 epidemic, several people were forced to stay at home and go primarily cashless. Africa’s Fintech stepped in to help, providing Africans with cutting-edge technologies that allowed them to access the best financial services available….
The KnowBe4 and ITWeb Ransomware Survey investigated the South African organization and discovered that ransomware and cybercrime are increasingly affecting organizations on the continent. While many businesses (32%) will be attacked in 2021, some multiple times (12%), 64 percent believe they are prepared, and 67 percent will not pay the ransom. According to Anna Collard,…
Despite the fact that SMEs contribute significantly to the Nigerian economy and account for 48 percent of the country’s national GDP, as well as 96 percent of businesses and 84 percent of employment, it is still difficult to launch a startup in Nigeria. There are, however, some SME-friendly tools and solutions that can alleviate some…
The Nigeria Tech Summit is the world’s most exclusive event featuring tech investors, entrepreneurs and influencers creating or leveraging platforms to advance the future of Nigerians. The summit aims to offer on-site workshop training, Networking round tables, Live Q/A sessions with speakers and sponsors and It also serves to teach fundamentals of ecosystem building within the region….
Gricd, a cold chain technology company that uses the Internet of Things to enable last mile delivery of temperature-sensitive products, has partnered with Nigeria’s National Primary Health Care Development Agency (NPHCDA) to distribute 4.2 million doses of the Moderna COVID-19 vaccine to all 36 states and the Federal Capital Territory. This batch of Moderna vaccines…
Gmail’s Undo Send feature has been updated for both Web and iOS users. The feature that allows users to recall emails will now be available in a variety of time frames. Users can ‘unsend’ an email by tapping the send button 5 seconds, 10 seconds, 20 seconds, or 30 seconds before it is delivered to…
Twitter announced the acquisition of Slack competitor Quill on Tuesday in order to help the social networking company improve its own messaging tools. The acquisition comes as Twitter recently appointed a new CEO, Parag Agrawal, to replace co-founder Jack Dorsey, who stepped down from the helm last week. Agrawal, who previously served as chief technology…
Panda, a South African startup, has launched a mental health support app that provides users with online tools, activities, and support to help them manage their mental health. Panda is the brainchild of Alon Lits, former GM and director of Uber South Africa, and Allan Sweidan, a mental health expert and clinical psychologist who co-founded…
Plstka, a waste management startup based in Egypt’s delta region, has received seed funding to help it scale. Plstka, a company founded earlier this year by Ahmed Elnagar and Mahmoud Youssef, has created an app that rewards customers for recycling their solid waste. People can use the app to exchange waste for discounts and coupon…
Women in Africa are using online platforms as a critical source of income now more than ever. Jumia, Africa’s largest e-commerce platform, recently announced that women make up 51% of its vendors and account for 33% of total merchandise sales between 2019 and 2020. The African ecommerce sector was valued at $20 billion (pdf) in…
eHealth Africa is a non-governmental organization that was founded in 2009 with a simple goal in mind: to provide access to healthcare to hard-to-reach communities and underserved areas in Africa. To effectively design, implement, manage, and evaluate health projects, the organization employs appropriate technology. With offices in Kano and Abuja, eHealth Africa has projects in…
Wages for formal-sector employees in Nigeria are paid monthly; however, wages for informal-sector employees are paid daily. When salaried employees are unable to make ends meet between paydays, they now have three options: borrow, take out a loan, or request a salary advance. However, most loans have exorbitant interest rates, and salary advance schemes can…
On Monday, Israel stated that countries interested in purchasing its cyber technologies would be required to commit to using them only to prevent a limited number of terrorist acts and serious crimes. The announcement by Israel’s Defense Ministry was the latest step in strengthening its oversight following concerns about possible abuses of a hacking tool…
As the digital and physical worlds continue to merge, the internet’s new age — the “metaverse” — is reshaping the fashion industry. Balenciaga is one of the luxury houses leading the charge. The company (known for its embrace of virtual clothing) recently announced plans to establish a business unit dedicated to exploring opportunities in the…
Thanks to cutting-edge 3D printing technology, a new neighborhood near Mombasa, Kenya, will be built in record time. 14Trees, a joint venture between Holcim and CDC Group, the UK’s development finance institution, announced today that it will develop Africa’s largest 3D-printed affordable housing project. The 52-house Mvule Gardens project will be built in Kilifi, Kenya,…
Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure company, today announced its expansion into Africa through its intended acquisition of MainOne a leading West African data center and connectivity solutions provider, with a presence in Nigeria, Ghana and Côte d’Ivoire. The acquisition is expected to close in Q1 of 2022, subject to the satisfaction of customary closing conditions including…
Flat6Labs, a Cairo-based accelerator program that provides companies with access to funding, mentorship, and other benefits, has introduced nine startups at its most recent demo day. The Flat6Labs Cairo programme, which was launched in 2011 as the first office of the Flat6Labs MENA regional startup accelerator, provides startups with cash funding of up to EGP1.5…
TradeDepot, a B2B e-commerce and embedded finance platform based in Nigeria, has raised US$110 million in an equity and debt Series B funding round to support the delivery of buy-now-pay-later services to five million SME retailers as well as the further expansion of its merchant platform across the continent. TradeDepot, which was founded in 2016,…
Laurin Nabuko Hainy is the co-founder and CEO of FairMoney MFB, Nigeria’s largest digital bank. FairMoney recently announced at its inaugural Investors’ Conference in Lagos that they have disbursed over N71 billion in loans so far in 2021, more than doubling the amount in 2020, in order to drive financial inclusion in Nigeria. Laurin discusses…
Herconomy is leveraging fintech to empower women, from creating a women-focused social media community to planning Africa’s largest financial services platform for women. Women make up half of the world’s population, but they face greater barriers to financial products and services that can improve their well-being and economic empowerment. According to UNCTAD, based on World…
President Hakainde Hichilema declared a “new dawn” for Zambia in his inauguration speech on August 24, 2021. It is critical that this transformation extend to the realm of the internet. According to recent Freedom House and Paradigm Initiative research, digital rights in Zambia suffered under former President Edgar Lungu. Zambians witnessed this during the August…
Firefox Monitor, Mozilla’s password breach detection service, could be used to remove personal information from the Internet in the near future. Firefox Monitor users who want to use the service can sign up for a waitlist. Sign in to your Firefox Monitor account, or create a new one, and then click the join waitlist button…
Consumer data is priceless, especially in today’s rapidly changing business landscape. Gathering customer insights and using them to make well-informed, forward-thinking business decisions is what separates mediocre brands from those that continue to pivot and innovate. By enabling companies to better understand who they are targeting, how and where to reach existing and prospective customers,…