Trending
- Kenya, Tanzania braces for torrential floods as Cyclone Hidaya approaches
- EAC monetary affairs committee to discuss single currency progress in Juba talks
- Transport and food prices drive down Kenya’s inflation to 5% in April
- Payment for ransomware attacks increase by 500 per cent in one year
- History beckons as push for Kenya’s President Ruto to address US Congress gathers pace
- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
- The US Congress proposes extending Agoa to 2041, covering all African countries
- Millions at risk of famine as fuel tax row halts UN aid operations in South Sudan
Tech & Business
- Payment for ransomware attacks is not only impacting large businesses even smaller ones have been hit with 7-figure demand.
- The rate of ransomware attacks falls slightly, but recovery costs hit $2.73 million.
- Despite the soaring ransoms, this year’s survey indicates a slight reduction in the rate of ransomware attacks
The amount organisations are paying to get back their data from cyber criminals has increased by 500 per cent in the past year, a new report by Cybersecurity solutions provider Sophos has revealed.
Sophos, in its annual “State of Ransomware 2024” survey, says this has seen organizations that paid the ransom report an average payment of $2 million, up from $400,000 in 2023, with ransoms being just one part of the cost.
Excluding ransoms, the survey found the average cost of recovery reached $2.73 million, an increase of almost $1 million since the $1.82 million that Sophos reported in 2023. …
- TikTok Community Guidelines will see introduction of stricter For You eligibility standards.
- Video sharing entity says this code emphasizes responsible behavior on and off the platform
- According to the recently released Reuters Institute Digital News report 2023 survey, Kenya leads in world TikTok usage.
Popular video sharing platform TikTok, has unveiled significant updates to its Community Guidelines and introduced new features aimed at supporting creators and maintaining a safe environment for users. The platform’s Community Guidelines, which outline rules and standards for all users, have been updated to provide greater clarity and transparency.
These updates, set to take effect in a few weeks, include refined definitions for policies on hate speech and health misinformation. Additionally, TikTok has detailed how it moderates features like Search, LIVE, and the For You feed to ensure a positive user experience.
One of the key updates is the introduction of stricter For You eligibility standards. …
- Market size of Africa’s digital economy could reach $712 billion by 2050.
- In 2022 only 36 percent of the African population had access to broadband internet.
- Mobile Network Operators (MNOs) are streamlining adoption of 5G services.
Africa is on the verge of an economic revolution. From the north to the southern part of the Saharan desert, nations are striving to eliminate poverty and gain a strong foothold in global markets.
In the same vein, the continent is banking on the potential held by the digital economy. Reports ping the sector to higher standards, including a report from non-profit Endeavor predicting that the market size of Africa’s digital economy could reach $712 billion by 2050.
The growth is propelled by the massive engagement of the continent’s younger population, rising smartphone adoption and increasing internet penetration.
Read also: World Bank backs Smart Africa’s Digital Academy with $20M grant
Digital economy in
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- 5G is the world’s fifth generation of wireless technology
- The network is superior to other networks and is up to 100 times faster than 4G
- There have been no adverse health effects linked to exposure to wireless technologies
Kenya and many other countries around the world are currently working on availing the 5G network for their citizens.
The network, which is the fifth generation of cellular networks, is already being implemented in the East African nation, even though slowly.
So what exactly is 5G, and why should people care?
The Exchange Africa spoke exclusively with Oppo Kenya Product Manager Ernest Teigut to understand what exactly 5G is and why it is important as below:
What is 5G?
5G is the world’s fifth generation of wireless technology.
The network is superior to other networks and is up to 100 times faster than 4G. 5G provides higher speed, lower latency and greater …
The election of South Africa and other countries, on Monday, October 3, 2022, into different regional groups that constitute ITU Council was the highpoint of the Plenipotentiary Conference 2022 (PP-22) ongoing in Bucharest, the capital city of the Republic of Romania.
The seats in ITU Council are divided into five regions, A to E. South Africa was elected into the ITU Council Region D for Africa, which has 13 seats. The other 12 countries elected alongside South Africa are Algeria, Egypt, Ghana, Kenya, Mauritius, Morocco, Rwanda, Senegal, Nigeria, Tanzania, Tunisia, and Uganda.
Elections of member states also took place into Region A for The Americas (nine seats); Region B for Western Europe (eight seats); Region C for Eastern Europe & Northern Asia (five seats); and Region E, for Asia and Australasia with 13 seats as Africa.
The 21st Plenipotentiary Conference of the Council, also saw the election by member states, …
The debut coincides with an insurance industry shift toward digital platforms to attract underserved and unserviced customers.
The Insurance Regulatory Authority (IRA) reported in October 2021 that Kenya’s insurance penetration fell to 2.43 per cent of GDP in 2019. The lowest level in 15 years, from a peak of 3.44 per cent in 2013.
According to its 2022-2025 strategy plan, the company would invest around $100 million in technology over the next three years to strengthen its digital strength.
“The digital revolution of the insurance industry will require a large number of resources to spend. However, investing in online technologies will be crucial if insurers want to stay current with consumers,” Raichura added.…
The market growth is extensively attributed to the rising health and fitness awareness, growing penetration of the internet & smartphones, and increased consumer disposable income levels.
The rising adoption has led to an increase in device development & innovation as more market players race in to deliver the growing demand and capture a higher market share.
According to Kewalramani, to set itself apart from competitors, Fitbit has evolved from being a pure fitness tracking device company to bringing more functionality and innovation around stress and sleep management to help users gain control of their health goals.…
According to McKinsey published February 23, 2022, transport currently makes up 10 percent of Africa’s total greenhouse gas (GHG) emissions. This is expected to increase in line with sub-Saharan Africa’s expanding vehicle parc.
South Africa, Kenya, Rwanda, Uganda, Ethiopia, and Nigeria make up around 70 per cent of Africa’s annual vehicle sales and 45 per cent of the region’s population.
The vehicle parc is expected to grow from 25 million vehicles today to an estimated 58 million by 2040, driven by urbanization and rising incomes. As its vehicle parc grows, the challenge for Africa will be to push for more sustainable mobility and avoid the risk of becoming the dumping ground for the world’s unwanted used ICE vehicles.…
- The Global Business Magazine Awards has awarded AAR Insurance Kenya the Most Innovative Insurance Mobile App Kenya 2022
- The Kenyan insurer has also been named the Best New Fully Digital Insurance Company, Kenya, 2022
- AAR said the awards cement their aggressive approach towards being a technology-first operation model to make products and services accessible to their customers easier
Kenya’s AAR Insurance has been named “Most Innovative Insurance Mobile App Kenya 2022″ & “Best New Fully Digital Insurance Company Kenya 2022” by the Global Business Magazine Awards.
On October 3, 2022, AAR Insurance Kenya Acting Principal Officer Hosea Kiprop said the awards cement their aggressive approach towards being a technology-first operation model to make products and services accessible to their customers easier and seamless through the press of a button.
The awards honour business innovators, market disruptors, and leaders from all over the world. They are organised by a Dubai-based publication …
