Trending
- Agribusiness could drive Africa’s economic prosperity
- Dawood Al Shezawi: Why AIM Congress 2024 is the epicenter of global economic and cultural dialogues
- d.light’s 600,000 cookstoves project verified as top source of quality carbon credits
- Artificial intelligence (AI) could create a turning point for financial inclusion in Africa
- AIM Congress 2024: Catalysing global investments with awards
- Kenya’s economic resurgence in 2024
- The most stressful cities to live in 2024 exposed
- Tech ventures can now apply for the Africa Tech Summit London Investment Showcase
Tech & Business
- AIM Congress 2024 aims to facilitate economic opportunities and foster mutually beneficial international economic relations.
- The congress provides a platform to engage with global leaders, explore investment trends, and forge meaningful B2B and B2C partnerships.
- The Future Finance Forum Track at AIM Congress 2024 will explore the use of cutting-edge technologies such as blockchain, AI, fintechs, and digital currencies.
The AIM Congress, under the leadership of Dawood Al Shezawi, President of AIM Global Foundation, stands poised to host an unprecedented global gathering from May 7th to 9th. This event promises to assemble an extraordinary array of leaders, including over 25 government ministers, 45 city mayors, and 12 central bank governors, reflecting its vast international appeal and strategic importance.
With more than 900 speakers and 450 dialogue sessions scheduled, the congress aims to foster comprehensive dialogue and networking among the most influential figures across various sectors worldwide.
The sheer scale and …
- Ventures interested in applying for the Investment Showcase can submit applications here by 2nd May.
- To qualify, the ventures must be African, have at least one African co-founder or be headquartered in Africa.
- They must also offer a product or service designed for scalability, and be able to present in person at the Africa Tech Summit (ATS) London.
On June 7th, 2024, the Africa Tech Summit (ATS) London will convene at the London Stock Exchange for its eighth edition, continuing its tradition of fostering business and investment opportunities in Africa and around the world.
This tech conference, known for its dynamic engagement and insight into the African continent’s tech industry, is poised to attract over 300 African and international tech leaders, policymakers, investors, entrepreneurs, and corporates.
The summit’s key event, the Investments Showcase, is inviting African tech ventures to present their business models to a curated audience of potential investors …
- Survey shows 60% of journalists interviewed indicate that their newsroom lacks an AI use case policy.
- However, 20% of journalists revealed that they are planning to explore AI’s potential applications.
- State of Journalism Survey 2024 interviewed 1,106 respondents across the world.
Media houses are still lagging behind in the push for AI adoption in their line of work with a majority failing to institute AI policies in newsrooms. This is according to a recent survey conducted by Muck Rack delving into the current landscape of journalism, revealing notable trends and concerns among journalists across the industry.
From the findings, 60 per cent of the surveyed journalists indicated that their newsroom lacks an AI use case policy, while only 24 per cent reported having one in place.
This raises questions about whether the absence of policies hinders journalists from exploring AI tools or if other factors, such as a lack of …
The Central Bank of Nigeria (CBN) has accorded a Switching and Processing License to Flutterwave, an African payments technology business. This is widely regarded as the CBN’s most significant payment processing licence.
Flutterwave can provide customers with transaction switching and card processing services with this licence. Other benefits include non-bank acquisition, agency banking, and payment gateways.
- The Central Bank of Nigeria (CBN) has accorded a Switching and Processing License to Flutterwave, an African payments technology business.
- Flutterwave can provide customers with transaction switching and card processing services with this licence.
- Flutterwave is permitted to facilitate transactions between banks, fintechs, and other financial institutions thanks to the Switching and Processing licence
- Additionally, the company can handle card transactions, participate in agency banking, and provide payment services directly to customers
Flutterwave is permitted to facilitate transactions between banks, fintechs, and other financial institutions thanks to the Switching and Processing licence.
Additionally, …
Africa’s nascent digital sector is expanding thanks in large part to innovation. In reality, at least 1031 innovation centres were active throughout Africa as of October 2021, according to research by Briter Bridges and AfriLabs, and there is a strong desire to establish more.
These hubs include coworking spaces, incubators, and accelerators that promote the region’s transformational economic growth and development through entrepreneurship and innovation.
According to the Briter Bridges and AfriLabs study, Nigeria has the most densely populated ecosystem, with 164 operating hubs, 149 of which are domestic and 15 of which are foreign; Kenya and South Africa follow suit with 100 and 90 hubs each.
According to the survey, North Africa has rapidly expanded over the past five years, with over 200 hubs in Egypt, Tunisia, and Morocco.…
Global consumer Internet Company Prosus, which is majority owned by South African Internet Company Naspers, disclosed that it has reached an agreement to buy the remaining 33.3 percent stake in iFood. With a market share of more than 80 percent in the country’s food delivery market, iFood is a Brazilian online food delivery service.
The stake was bought from minority shareholder Just Eat Holding Limited for €1.5 billion in cash plus contingent consideration of up to €300 million. Following the transaction, Prosus and its affiliate company, a Brazilian investor in technology companies, Movile will fully own iFood.
- Prosus, which is majority-owned by South Africa internet group Naspers, announced that it has entered into an agreement to acquire the remaining 33.3 percent stake in iFood.
- The stake was bought from minority shareholder Just Eat Holding Limited for €1.5 billion in cash plus contingent consideration of up to €300 million.
- Naspers has
e-GUIDE, which has effectively utilised AI to forecast the amount of electricity used in Africa and evaluate the amount of energy put to productive use in the continent’s agricultural sector, will now be able to collaborate with Atlas AI on this endeavour.
Atlas AI, Founded in 2018 by The Rockefeller Foundation and a team of professors from Stanford University. Collects data from various planetary sensors and combines that information with deep learning AI technologies to track changes in the economic and societal well-being of the entire world.
Atlas AI possesses a wealth of experience in constructing hyperlocal socioeconomic datasets, predictive analytics models, and software platforms to assist in making complex policy and investment decisions.…
According to Refinitiv Data, the value of South African mergers and acquisitions increased by 958 per cent from the same period in 2020 to US$52 billion in the first half of 2021, from a total of 169 deals. When compared to the same period in 2020, deals involving tech businesses soared by US$160 million, or about 2000 per cent.
According to an article by Tech Cabal, acquisitions in South Africa can broadly be categorized into three:
Inbound inter-country acquisitions of South African startups by international companies (mostly US-based),
Domestic intra-country acquisitions of South African startups by well-established South African companies, and
Domestic intra-country acquisitions of South African startups by other South African startups.…
- Safaricom has officially kicked off a large-scale customer pilot of its network in Ethiopia as part of ongoing plans to officially launch operations in Ethiopia
- The telco has launched the trial network in Dire Dawa, Ethiopia’s second largest city after its capital Addis Ababa
- The launch of the network is part of Safaricom’s phased city-by-city regional network roll-out and rigorous service tests building towards its national launch in October
Safaricom Ethiopia has officially kicked off a large-scale customer pilot of its network in Ethiopia as part of ongoing plans to officially launch operations in the Horn of Africa country.
The telco has launched the trial network in Dire Dawa, Ethiopia’s second largest city after its capital Addis Ababa.
The launch of the network is part of Safaricom’s phased city-by-city regional network roll-out and rigorous service tests building towards its national launch in October.
Safaricom Ethiopia said the customer pilot would …
