- Search queries included “what is AI art”, “what is deep learning in artificial intelligence”, “how to become an AI engineer”, “what is artificial intelligence all about”, “when was artificial intelligence invented" - all of which were Googled 5,000% more in 2022 than 2021.
- Kenya’s largest telco has followed up the appointment of a new board chairman with new hires and a corporate reshuffling as it prepares for life under a new administration.
- Last year, MTN invested ₦16 billion in MoMo. Despite this, the mobile money operator lost ₦10 billion in 2022 to unauthorised transactions which were caused by a system glitch.
- Gokada, one of Nigeria’s most prominent last-mile delivery companies, reportedly considered selling the business to a competitor, Kwik Logistics, in 2022. Three people familiar with the discussions told TechCabal that the talks were on the table in the last quarter of 2022. Ultimately, the deal did…
- In a TC Live event on the 16th of February 2023, IFC invites you to join an interesting set of panellists and audiences to discuss how to increase women’s participation in online learning and boost their opportunities in the labour market.
- DStv is the home for televised entertainment in Africa. Therefore you want to quickly renew your subscription once it expires. While there are many ways to pay for your DStv subscription in Kenya, here's how to pay for it via Mpesa.
- After lobbing a $773 million fine for back taxes at MTN Ghana, the Ghana Revenue Authority has asked three more companies—Gold Fields Ltd, Kosmos Energy, and Tullow Oil Plc—to pay over $300 million in back taxes.
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- MTN’s revenue growth has been exciting to witness over the past 5 years. In 2018, the company crossed the ₦1 trillion mark and has continued to record a steady and impressive growth rate, doubling its revenue in just 5 years. This has made MTN the most profitable company in Nigeria, according to…
- A few days after we reported that Gokada was looking to raise $100,000 through crowdfunding, TechCabal can now exclusively report that Gokada has laid off at least 54 members of staff. Four present and former Gokada employees who spoke to TechCabal said the email announcing the layoffs was sent on…
- Egyptian fintech and e-commerce company, MNT-Halan, has become the country's second unicorn! Yesterday, the fintech announced it had raised $400 million in equity and debt financing at a $1 billion valuation.
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- Capitec is a digital bank whose mission is to make banking easier for its customers. As such, owning and using a Capitec account for things like transfers is simple, quick, and safe. Read more here.
- At an early age, Samira Nwaturuocha got intrigued by the biological concept of the “cell”. Her passion for the living world would lead her to practise in microbiology for a few years before transitioning to traditional banking and insurance, and then digital banking.
- In less than one week, TechCabal will host a panel titled ‘The Role of Media in Africa Tech Coverage’, with some of the most influential players in African tech media at the AfricaNXT Summit. Here are 5 things you need to know about it.
- In this edition of #EnteringTech🚀, Karen Ginigeme (@shadesofkaren), product lead at OneLiquidity, takes us through her five-step plan for becoming a successful product manager.
- With national electricity provider Eskom facing seemingly never-ending challenges, Ellies’ acquisition might be well timed as South Africans seek alternative power sources away from the faltering national grid.
- The central bank governor has changed his stance yet again. The old notes, ₦1000, ₦500, and ₦200, will continue to be redeemable at commercial banks after they cease to be legal tender on February 10th.
- What will happen if Flutterwave goes public this year or doesn't? If it doesn't, can the company continue to run on its "strong" spreadsheet, cut cost, or raise another round of funding?
- In a statement, the startup said that the funding will be used to service the surging demand for the fast access to working capital the company offers businesses and also accelerate the rollout of Lula, its digital banking offering for SMEs.
- Introducing the trailblazing women of GrindstoneX! Meet the 10 women-led startups selected for Naspers Labs's accelerator program in South Africa. Learn about their businesses.
- Despite South Africa’s crippling power grid challenges, Audi made assurances that its charging stations will not be affected by rolling blackouts through use of alternative sources of energy.
- Yesterday, Nigeria became the first African country where Starlink became active. While the hardware costs ₦274,098 ($595), Nigerians may pay up to ₦440,000—$869 via CBN’s official rate of $460 to ₦1—while using virtual dollar cards.
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- The lagos-based programme which is focused on building early-stage African fintech and proptech startups has chosen a cohort of 10 Nigerian and 2 Kenyan startups, with 50% female CEOs.
- In December, a few weeks after the launch of ChatGPT, StackOverflow announced that it had banned the use of the AI tool’s generated as answers on the platform, citing concerns about the accuracy of such answers.
- South Africa’s regional dominance in VC funding is also apparent in the VC funding per capita metric, with the country recording $9 per capita compared to the regional average of $3.1 of VC funding per capita and the continental average of $3.4 per capita.
- The Convergence Partners Digital Infrastructure Fund is the firm’s biggest fund to date and brings its total funds under management to over $600 million.
- The Central Bank of Kenya (CBK) has granted operating licences to 12 more digital lenders, bringing the total to 22. With 381 applications received since March 2022, the CBK also announced that it's evaluating more digital lenders.
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- Despite bleeding millions over the years, Jumia has mostly maintained a great liquidity position, using its deep pockets to absorb its consistent losses. But now, for the first time, the ecommerce company may have to worry about its reclining liquidity position.
- Global giant, Amazon, has launched a new Amazon Web Services (AWS) Local Zones in Lagos, one of only 15 outside the United States. The proximity of AWS Local Zones to the Lagos metropolis will help improve the development and performance of applications that Lagosians and Nigerians use to play…
- Due to the extension of the deadline by the CBN, bank traffic has decreased, and ATMs are overcrowded. As a result, some POS agents are turning away customers seeking to withdraw money or charging them excessive fees due to the cash scarcity.
- Registration for university entrance examinations like JAMB is currently ongoing. As such, the need to check your WAEC result for printouts and uploads may become imperative. See how to check your WAEC result using your phone.
- Nigeria's newest telco is kicking things off with 5G.
Last Thursday, MAFAB Communications launched its 5G network which will be deployed across six Nigerian cities—Lagos, Abuja, Port Harcourt, Enugu, Kano and Kaduna—on dates yet to be disclosed.
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- This week, Nigeria launched the first domestic card in Africa. South Africa welcomed a new data center, 2Africa's submarine cable, and established rules for the advertising of cryptocurrency. Kenya’s delay in the digital lenders' licensing process threatens lenders’ businesses.
- Are you a master decoder, or are you just good at making lucky guesses? Decode this message to discover the name of a popular tech publication: "20 5 3 8 3 1 2 1 12." If you need a hint or want to play more, head over to our website!
- Afrobeats is gaining global appeal, with the Grammy awards even considering an Afrobeats category. So there’s a ton of money to be made if you find and fund the next big Afrobeats star. That argument has led to many failed record labels. Tech platforms now believe that a newer, more democratic way…
- With Africa’s population projected to reach 2.5 billion by 2050 according to data by Statista, the growing demand for healthcare services presents a market opportunity for innovative startups like the ones in Innov8’s portfolio.
- The new capital injection will allow Yebo Fresh to expand further, significantly build on its physical and systems infrastructure and attract new talent.
- Gokada, a leading Nigerian last-mile delivery company, has taken to GetEquity, a Nigerian investment platform, to raise $750,000 at a $10 million valuation. Why is a market leader turning to retail investors in its home country to fund its operations?
- “As the second operator to launch 5G in Nigeria, Mcom expects more coverage for Nigerians and acceleration of broadband services,” Dr. Musbahu Bashir, chairman and founder of MAFAB, said.
- Farida Nabourema is a Togolese activist and the convener of Africa Bitcoin Conference, the first major bitcoin event in Africa. In this interview, she discusses why she organised the conference and the utility of bitcoin for Africans.
- The Central Bank of Nigeria has announced the launch of the country's domestic card service, AfriGo. Meanwhile, a Kenyan senator is pushing for work-life balance with a new bill that penalises employers who contact staff after work hours.
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- It’s like cutting more slices into a pie. A reverse stock split allows publicly traded firms to consolidate existing shares by issuing more shares for free. It doesn’t change anything for the company.
- Nigeria’s central bank has today made good on its intentions to launch AfriGo, a national domestic card scheme. The scheme introduces the central bank into the triopoly of card payment schemes in Nigeria’s large card payments market.
- Nambu’s solution works by feeding food and organic waste to the larvae of the Black Soldier Fly, which then reproduce. The larvae are then sold as live feedstock, processed into a protein feed, with the by-product serving as a nutrient-rich compost.
- Despite its pressing power challenges brought on by state-owned electricity provider Eskom’s seemingly never-ending troubles, South Africa continues to cement its place as the data centre hub of the continent.
- In November last year, Naspers announced shaky 2022H1 financial results, citing, among others, the impact of higher inflation and interest rates on consumers' spending power.
- In today's edition of #TCDaily: Crypto market; mTek to provide digital insurance to 100,000 Kenyans; Kenya’s new regulatory sandbox; and the US sues Google over ad monopoly.
- Low on cash and high on losses, the Cairo-born mass transit firm wants to undo its 2022 acquisition of Volt Lines for $40 million as it searches for a way to survive.
