Tech & Business

Bolt Tanzania, Uber Tanzania Ride share Indrive, Indrive Tanzania

Moving from one point to another has never been easier and more convenient as transportation or mobility applications have come to play. In Tanzania, where internet penetration stands at around 25 percent, digital mobility services simplify transportation, thanks to Bolt and bber ride-hailing services.  

However, this was not always the case, as in early 2022, Uber decided to leave Tanzania. Bolt also limited its operations due to regulatory concerns and the increase in transportation taxes imposed by authorities.    

With population expansions in cities such as Dar es Salaam, Arusha, Mwanza, Kilimanjaro, and Dodoma, digital mobility services are again getting attention and usage over time and space. 

Tanzania is witnessing the stark rise of locally developed solutions such as Paisha, Twende, and Linkee, which are challenging the status quo established by Uber and Bolt, which are progressively resuming their services. 

READ:Bolt Food revamps app, incorporates mobile money

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  • Egypt’s Creative Crafts in Five Minutes YouTube channel is Africa’s highest-earning channel, with $8.7 million of revenue made since its launch in 2017. 
  • Algerian cooking YouTuber Oum Walid ($4.9m) and Nigerian comedian Mark Angel ($4.2m) are also among Africa’s most profitable channels.
  • Kenya, Nigeria and South Africa all have at least 300 channels with more than 100,000 subscribers. North African countries though lead in viewership & earnings

Egypt’s Creative Crafts in Five Minutes YouTube channel is Africa’s highest-earning channel, with $8.7million of revenue made since its launch in 2017 according to the latest report by CashNet USA. 

According to the report, the handy how-to guides have been viewed more than 4 billion times. 

Algerian cooking YouTuber Oum Walid ($4.9m) and Nigerian comedian Mark Angel ($4.2m) are also among Africa’s most profitable channels.

According to the report, African YouTubers haven’t been able to reach the viewing figures and earnings like in

 

  • Allianz Risk Barometer 2023: changes in legislation  and cyber  security top threats in Kenya as climate and market development risks rise. 
  • Cyber incidents, such as IT outages, ransomware attacks or data breaches, ranks as the most important risk in Kenya. It is the risk that small companies ($250mn annual revenue) are most worried about. 
  • The frequency of ransomware attacks remains elevated in 2023, while the average cost of a data breach is at an all-time high at $4.35mn and expected to surpass $5mn in 2023.

Change in legislation, cyber incidents and climate change are the top three threats to Kenyan Businesses according to Allainz Risk Barometer 2023. 

According to the data Kenyan business ranked the three as the major risks in 2023, with market developments coming in fourth place. 

“In Kenya, the top three risks are Changes in legislation and regulation (#1 from #4). Cyber incidents is second from

In full throttle the world is diving deeper into the Fourth Industrial Revolution (4IR).  Resultantly, among the new wave of technologies marking this new era is the adoption of digital currencies such as a CBDC. This relatively nascent era of economic disruption has birthed a need for digital currencies and we might very well be in the twilight years of using the traditional fiat currency. In his book, “The Future of Money: How the Digital Revolution is Transforming Currencies and Finance” economist Eswar Prasad, predicts that the era of cash is drawing to an end and that of central bank digital currencies and other forms of digital cash has begun. Indeed the future of money is evolving and already several countries across the globe are particularly piloting the Central Bank Digital Currencies (CBDCs).

In Africa, albeit slow, the concept of CBDC's adoption is gaining momentum with several nations in the…

  • SeamlessHR, the leading enterprise-grade HR and payroll SaaS provider in Africa, announced the opening of its East African operations.
  • Only 30 per cent of Kenyan enterprises have wholly automated their human resource (HR) management operations, resulting in lost revenue.
  • KIPPRA data show that 7.4 million firms, including small and medium-sized enterprises (SMEs) in Kenya, are struggling to manage human resources

At a thought leadership conference hosted in Nairobi, Kenya, SeamlessHR, the leading enterprise-grade HR and payroll SaaS provider in Africa, announced the opening of its East African operations.

By implementing well-designed, top-notch technological solutions, SeamlessHR, an end-to-end HR and payroll technology firm, aims to help companies in emerging markets become more productive and successful.

At the event, which was held at the Villa Rosa Kempinski Hotel in Nairobi with the theme “Maximising Africa’s Human Capital at the Intersection of Technology and Enterprise,” influential business executives and IT specialists were present.

  • Moove has raised US$30 million to increase its fleet of electric vehicles in the MENA region. The money came from a debut Sukuk offering
  • Moove will use the funding to add up to 2,000 EVs in United Arab Emirates over the next year
  • Moove predicts that this fleet of EVs will reduce carbon dioxide emissions by nearly 5,000 metric tonnes annually

Moove, a mobility fintech company in Nigeria, has raised US$30 million to increase its fleet of electric vehicles in the MENA region. The money came from a debut sukuk offering that Franklin Templeton Investments (ME) Ltd coordinated.

The successful closing of the company’s first sukuk will give Moove access to the vast pool of Islamic investors who are especially keen on making socially and environmentally responsible investments. It will also undoubtedly open up new financing options for Moove’s ambitious expansion plans.

As a sukuk al- istisna, a Shari’ah-compliant contract …

  • African fintech is the fastest-growing start-up industry in Africa
  • Africa’s fintech sector is well placed to quickly improve Africa’s global competitiveness through an increase in exporting fintech services abroad
  • The rise of financial inclusion in Africa is stifled by regulatory uncertainty and regional differences
  • Also the top 5 fintech trends and forecasts to watch in 2023

The success of fintech companies is fuelled by several trends, including growing smartphone ownership, expanded network coverage, declining internet costs,  and a young, rapidly urbanising, and fast-growing population.

African fintech is the fastest-growing start-up industry in Africa, raising over US$1,3 billion in 2021 alone.

According to McKinsey research, fintech sales in Africa are predicted to expand by 10% each year through 2025, with transactions and wallets becoming the fastest-growing products.

Despite the fact that fewer than 15% of monetary operations on the continent are digital, African fintechs collectively generated US$4-6 billion in revenue by …

  • McKinsey report found that fintech in Africa is the fastest-growing startup industry, raising over US$1.3 billion in 2021
  • The industry is being supported by several trends, including smartphone ownership, declining internet costs, and a young, fast-growing, and rapidly urbanising population
  • Cash is still used in around 90% of transactions in Africa, which means that fintech revenues have huge potential to grow
  • The top challenges that fintech may face include reaching scale and profitability, navigating an uncertain regulatory environment, managing scarcity, and building robust corporate governance foundations

A new finding named fintech in Africa as the fastest-growing startup industry, raising over US$1.3 billion in 2021.

McKinsey & Company found that the industry is being supported by several trends, including smartphone ownership, declining internet costs, expanded network coverage, and a young, fast-growing, and rapidly urbanizing population. Further, the COVID-19 pandemic has also accelerated existing trends toward digitalization and created a fertile environment …

Scientists in Tanzania are making headway in biotechnology to improve agriculture and healthcare in the country as global scientists continue to improve the biopharma industry and use of AI in drug development.

“Machine learning will end up being an absolutely critical, pivotal shift—a paradigm shift—in the sense that  it will touch every single facet of how we discover and develop medicines , and accelerate and improve every single one of them,” Daphne Koller CEO and founder, insitro.

From AI-driven drug discovery industry in the US to biotech agriculture in Tanzania, machines are increasingly determine what we eat, what drugs to cure us, machines run our lives.…