Trending
- 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
- Empowering the Future: Humanity Protocol’s Dream Play Initiative
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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Much like it did in South America, EBANX wants to centre its strategy on collaborations and partnerships with global merchants. The company processes payments for Uber, Airbnb, and over 1,000 digital companies throughout Latin America.
In a statement, the CEO and co-founder, João Del Valle, explained that although Africa’s digital economy is still nascent, its exciting potential motivated his company’s decision. “Africa’s fast-growing digital economy is only in its early days, and it’s projected to grow up and to the right for the next few decades. Together with local players, EBANX will be a catalyst to realize the many benefits of a digital economy even faster.”
“Expanding our solutions to African countries speaks directly to EBANX’s mission of creating access, and having Pipefy as a merchant makes this moment even more special to us, expanding solutions and services throughout regions full of opportunities,” Paula Bellizia, the President of Global Payments …
The startup, which now has a presence in Nigeria, and Uganda, has entered its expansion phase and is looking for new partnerships to push mass consumer insurance adoption in Africa.
The tech insurance platform has developed to become a dominant player at the forefront of new insurance solutions since its inception. Turaco products cost US$2 per month, with simple terms and conditions and a fully digital claims system that enables claimants to file through phone calls or WhatsApp, with payments made in less than three days using mobile money.
“In the next 25 years, we want to cover a billion people, and that’s what we’re working toward.” It’s a lofty aim in every aspect, and I’m not sure how to get there, but I have a clear vision of covering 100 million people.
To reach the next level of development, you must collaborate with some of the world’s most recognisable …
- Persons with Disabilities in Kenya will get connected to jobs more easily following a partnership between Safaricom and the National Council of Persons with Disabilities (NCPWD)
- Safaricom and NCPWD will connect persons with disabilities with job opportunities through Fuzu, an online recruitment portal
- Fuzu, which has been active since November 2020, currently has over 360 employers and over 5,000 job candidates
Kenya’s leading telecommunications company, Safaricom, has partnered with the National Council of Persons with Disabilities (NCPWD) to connect persons with disabilities with job opportunities through an online portal.
In a statement seen by The Exchange Africa, the company said the portal, powered by IT service provider Fuzu, is a first in Africa and seeks to help employers easily identify and recruit Persons with Disabilities into their firms.
Fuzu, which has been active since November 2020, currently has over 360 employers and over 5,000 job candidates.
Safaricom said it has …
The grant recipients in this year’s cohort, 50% of whom are women-owned enterprises, are from Kenya, Botswana, Ethiopia, Cameroon, Ghana, Rwanda, Nigeria, and South Africa. Senegal, and Uganda.
They specialise in sectors such as fintech, healthcare, e-commerce, logistics, agtech, education, hospitality and smart cities.
Although there are many opportunities in the vast continent of Africa, there is a lack of variety in the flow of venture capital funding.
“We expect that Black Founders Fund Program would be capable of bridging the gap of disproportionate funding between ex-pat businesses over local and black-led enterprises”, Folarin Aiyegbusi, Head of Startup Ecosystem Sub-Saharan Africa (SSA), stated.…
In 2020, Amazon launched the Africa (Cape Town) Region, the first AWS Infrastructure Region in South Africa. However, plans for the construction of a new Cape Town-based Amazon Africa headquarters were blocked earlier this year by the Cape Town High Court as Amazon had allegedly not gone through the proper process to acquire the land.
Meanwhile, retailer Pick n Pay migrated its entire on-premise information technology infrastructure to Amazon Web Services (AWS).
In a statement, AWS says Pick n Pay worked with Lemongrass Consulting, an AWS Premier consulting partner with migration and SAP Consulting Competencies, to migrate its on-premises SAP environment to AWS and implement a modern SAP HANA platform.
According to the US-based cloud computing giant, moving to the cloud will enable Pick n Pay to streamline its operations and modernize the supply chain network for its stores, develop new digital customer experiences in omnichannel grocery, and expand into …
Today, being an online trader or digital shopper only requires one to have a smartphone, internet connection, a convenient social media platform and some products to sell or to buy.
One of the major hindrances to e-commerce across the world is inadequate online payment systems. In Kenya, however, mobile payment platforms have placed the East African nation at the top of other global economies. For this and many other reasons, Kenya is ranked third in Africa after Nigeria and South Africa, in terms of online shopping volumes, according to an article published in the Daily Nation last year.
All said and done, while you enjoy the convenience of online shopping, doing so comes with risks that can frustrate the modern way of shopping, leaving consumers and dealers vulnerable to the antics of online criminals.…
