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- Kenya, Tanzania braces for torrential floods as Cyclone Hidaya approaches
- EAC monetary affairs committee to discuss single currency progress in Juba talks
- Falling transport and food costs drive down Kenya’s inflation to 5 per cent 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
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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Each year, the programme supports ten small and medium Kenyan female-led entrepreneurial businesses by offering mentorship, advisory, coaching, networking opportunities, access to seed capital and investor forums that help mould their businesses to international standards.
The mentorship takes 12 weeks where the teams are offered expert training in the areas of business idea conceptualization, strategy formulation and marketing, which is key in moving the businesses from incubation to sustainable ventures.
The ten businesses shortlisted from more than 300 applications will compete for up to Ksh1 million in seed funding. Since its inception, 30 start-ups have participated, 15 have been awarded Ksh1 million each in seed funding, and 41 businesses have so far gone through the incubation process, with the first four cohorts attracting 1,150 applications.…
- Airtel Kenya has announced that it spent KSh 4.7 billion ($39.6 million) to acquire an additional 60 MHz spectrum
- The telecommunications company said the additional spectrum would help it expand its mobile network in the East African nation
- Airtel Africa said that the investment reflects their continued confidence in the opportunity inherent in the Kenya market
- The investment comes months after the company paid KSh 1.13 billion ($9.5 million) to the Communications Authority of Kenya for a network license
Airtel Kenya has announced that it spent KSh 4.7 billion ($39.6 million) to acquire an additional 60 MHz spectrum, which will help it expand its mobile network in the East African nation.
The new spectrum will help Airtel’s 4G network capacity expansion in Kenya. It will assist mobile data and fixed wireless home broadband capacity.
At the same time, the additional spectrum is expected to pave way for the rollout of …
The video-sharing app, TikTok, has created millionaires since it was launched in 2016 by China’s ByteDance Ltd.
A report by Forbes revealed that the highest-paid celebrities on TikTok took home US$55.5 million in 2021, a 200 per cent increase from 2020.
The report indicated that TikTok stars earn 30 to 50 per cent of their money from sponsored content. Sponsored content involves sharing posts that are paid for by companies advertising their products on the platform.…
Hopper HQ, an Instagram scheduling, planning and analytics firm, released the list of the highest paid public figures on the social media service.
The Instagram rich list 2022 comprises big names in the continent who rake in millions per post, considering they have millions of followers.
According to Hopper, top on the Instagram rich list in 2022 is Egyptian professional footballer Mohammed Salah, who plays as a forward for English Premier League side Liverpool. Nigerian singers Davido and Yemi Alade were ranked second and third, respectively.
Africa’s Instagram rich list
- Mohamed Salah
The Egyptian winger is ranked the highest paid Instagram influencer in 2022. Salah boasts 52.1 million followers on Instagram. As of Thursday, July 21, he had shared 836 posts.
According to Hopper, Salah earns US$275,000 per post. Salah’s net worth is estimated at US$40 million.
- David Adeleke (Davido)
David Adeleke is popularly known by his stage name Davido.
In the last few years, content creation has picked up pace after the platform was monetised. Vloggers are now making millions from YouTube as they use their channels to advertise.
In Africa, the richest YouTubers smile all the way to the bank based on their views and impressions from their audience.
Content creators on YouTube also rake in money through sponsorships, affiliate links, and selling digital products.…
- Kenya’s leading telcos have signed a landmark deal that will propel the mobile money space in the country
- Telkom, Safaricom, and Airtel announced that Kenyans can now make direct mobile money payments to an M-PESA Pay Bill number from any network
- The companies said the move follows their announcement in April 2022, which saw Kenyans being able to make mobile money payments to M-PESA Buy Goods and Services Tills from any network
Kenya’s leading telcos have signed a landmark deal that will propel the mobile money space in the country.
On Friday, July 15, 2022, Telkom, Safaricom, and Airtel signed a deal to allow Kenyans to make direct mobile money payments to an M-PESA Pay Bill number from any network.
In a statement, the telecommunications companies said the move follows their announcement in April 2022, which saw Kenyans being able to make mobile money payments to M-PESA Buy Goods and …
