Trending
- Africa’s new dawn: the rising role of digital and AI in agriculture
- Can Dangote Refinery Transform Africa Energy Ambition
- Gallup Survey: 80 per cent of Kenyan Workers Are Disengaged and Seek New Opportunities
- Madagascar Man Freed from 5KG Tumor After 15-Year Struggle
- How women in Africa are perceived and treated
- Sugar consumption in Kenya to Increase to 1.23 Million Tonnes
- Can Somalia and Turkey Oil deal Bring Change in Somaliland
- Remittances to Kenya dropped to $371.6 million in June, marking a six month low
Tech & Business
- Cybersecurity recovery costs post a staggering increase in recovery costs for the Energy and Water sectors.
- The report also reveals that nearly 49 per cent of ransomware attacks on these sectors began with an exploited vulnerability
- The Energy and Water sectors also reported a high rate of ransomware attacks
The water and energy sector have been the worst hit with the rise in cybercrime recovery costs according to a new report by Cybersecurity firm Sophos. Titled “The State of Ransomware in Critical Infrastructure 2024,” the survey shows a staggering increase in recovery costs for the Energy and Water sectors.
Experts from Sophos say that the median recovery costs for these critical infrastructure sectors have quadrupled to $3 million (Sh390 million) over the past year, significantly higher than the global cross-sector median. The report also reveals that nearly 49 per cent of ransomware attacks on these sectors began with an …
- Only 8 per cent increased awareness, consumer concern regarding sharing personal information remained significant at 91 per cent in Q2 2023, albeit down from 94 per cent last year.
- The study shows that there has been an accelerating rate of digital fraud in other sectors of the country, such as retail, financial services, telecommunications, travel & leisure, and communities
Digital fraud attempts are on the rise in the country with 80 per cent of Kenyan having been targeted in the first three months of year, a new TransUnion’s Consumer Pulse Survey has shown.
From the findings a notable 72 per cent of respondents who reported being targeted by digital fraud schemes successfully avoided falling victim. However, an additional 8 per cent were targeted and fell victim to these schemes.
The awareness of fraudulent schemes was significantly high; only 20 per cent of consumers reported being unaware of any fraud schemes …
- NALA raises 40 million dollars to fuel international expansion and launch its own payment rails for Africa and beyond.
- The US fintech building global payments for emerging markets.
- $40million Series A for NALA, the fintech that took Africa’s payment problems personally.
NALA raises 40 million dollars to build cross-border payments for emerging markets. NALA, one of Africa’s largest fintech companies, has announced the Series funding to support its global expansion and enhance the reliability of payments to Africa by developing its own payment rails.
The past 12 months have been transformative for NALA. The company achieved a 10x increase in revenue, reached profitability, and had positive cash flow.
In the past 20 months, NALA saw a 34x increase in transaction volume. The NALA team has grown from just 7 members to a robust team of over 100. Finally, today, NALA proudly serves 500,000 customers.
The $40 million funding round …
- Xente, co-founded by Francis Nkurunungi, is a fintech platform that streamlines business payments, collections, and financial operations.
- Targeting medium to large enterprises, Xente offers a digital wallet and integrates with systems like VISA to facilitate secure, efficient transactions and manage financial documents in one place.
- Currently, the startup has onboarded over 500 businesses in Uganda and plans to expand rapidly into Kenya, Tanzania, Nigeria, and Ghana.
When you think about the next big thing in fintech, your mind might drift to Silicon Valley or China. But Francis Nkurunungi, the COO and Co-Founder of Uganda-based fintech Xente, wants to change that perspective. He believes that Africa is the next frontier for technological innovation and investment.
At the sidelines of the 13th edition of the AIM Congress 2024 in Abu Dhabi, Francis shared Xente’s entrepreneurial journey, the opportunities and challenges they face, and their ambitious plans for the future. This is …
- Founded in Uganda, Famunera is a tech-driven startup that digitizes agribusiness operations, providing farmers, cooperatives, and agribusinesses with easy access to financing, market access, and supply chain traceability.
- Initially a B2C model for farm inputs, it transitioned to a B2B platform to address the unique financing needs of agribusinesses.
- With growing presence in the UAE, and the Netherlands, Famunera has onboarded over 1,000 agribusinesses and indirectly employed over 50,000 farmers.
Imagine a world where farmers from Uganda can seamlessly connect with agribusiness financiers in the United Arab Emirates (UAE), while cooperatives in the Netherlands can procure produce from African farmers without the usual hurdles of financing and market access. This vision is no longer a far-off dream but a reality, thanks to Famunera, an innovative agribusiness startup.
Famunera, founded by Naika Enock Julius in 2016, is on a mission to transform the global agribusiness scene. By leveraging technology, Famunera is …
- The Africa Fintech Accelerator program has increased the number of women-led startups
- The Accelerator program, launched in June 2023, is aimed at uplifting the digital economy in Africa
- The list, is majorly dominated by West and Central African states that command 11 enterprises.
Only one Kenyan fintech startup has made it through into the second cohort of Visa’s Africa Fintech Accelerator program.
Out of the possible 20 only CheckUps Medical Hub, an Embedded health Kenyan startup, made it to the shortlist. Tanzania got two representatives and Ethiopia also got one.
The list is majorly dominated by West and Central African states that command 11 enterprises. While Southern Africa only has three two from South Africa and one from Zambia.
According to the digital payments firm, Cohort 2 startups operate across 28 African countries, a 55 per cent increase from Cohort 1 where the representatives operated across 18 countries. …
- The cost of land degradation due to poor soil health is estimated to be between $850 and $1,400 per year for every individual, with a global cost of between $6.3 and $10.6 trillion annually.
- African governments should invest in improving access to organic and mineral fertilisers to enhance soil health.
- The continent now produces approximately 30 million tonnes of fertiliser annually, twice as much as it currently consumes.
Soil health is vital in supporting food production and water filtration. Since the 1960s, land degradation in Africa has led to a significant expansion of agricultural land by about 300 per cent, compared to 25 per cent elsewhere. This has happened at the expense of forests, wetlands, and other fragile systems. The expansion is driven by the need to reimburse for the decline in productivity caused by soil fertility decline.
The cost of land degradation due to poor soil health is estimated …
- With Yeeo—a web app—individuals have the privilege of saving their time and cost of printing cards, which often end up being dumped and ensure their money is invested elsewhere.
- Yeeo’s business strategy brings together environmental conservation and this vision to help enterprises save billions spent on card printing.
- Dubai-based Yeeo has already secured intellectual property rights in 179 countries around the world.
As I navigated through the bustling crowd of delegates from around the world at the Startups Showcase during the AIM Congress 2024, I felt a gentle tug on my jacket. It was Abdullah AlShetiwi, a determined look in his eyes and a welcoming smile on his face.
As I reached out to offer my business card to Abdullah, he intercepted with a gesture, saving me the customary exchange. Instead, he swiftly pulled out his phone, suggesting we swap contacts via a QR Code. With a quick scan …
- Four innovators from Kenya, Côte d’Ivoire, and Uganda, selected from a shortlist of 16, vie for the £50,000 (over $62,000) Africa Prize.
- Their innovations encompass recycling in construction, AI tools for healthcare and farming, and reengineered waste collection, addressing crucial societal needs.
- The three runners-up will each receive £15,000 (over $18,000), while a £5,000 (over $6,000) prize titled ‘One to Watch’ will be awarded to the most promising business among the shortlist.
- Since 2014, the Africa Prize has empowered nearly 150 entrepreneurs across 23 African countries, creating over 28,000 jobs and positively impacting more than 10 million people with their innovative products and services.
The Royal Academy of Engineering is set to host the final showdown of the 10th Africa Prize for Engineering Innovation, the continent’s premier engineering accolade, on June 13, 2024, in Nairobi, Kenya. Out of an initial pool of 16 visionary innovators crafting sustainable, scalable engineering solutions …
