Browsing: Mobile technology

crypto mining hub

Digital economy: Africa could thrive as a crypto mining hub

Cryptocurrency

An efficient crypto mining industry can generate more job opportunities in Africa as the demand for miners, blockchain specialists, and technology specialists increases, . This encourages nations to enhance their energy and technological capacities to support crypto operations. These enhancements can considerably benefit other industries and the economy as a whole.

African nations must embrace the chance to become a crypto mining hub. This can aid in the digital economy’s growth, citizens’ financial standing, and the infrastructure for energy production. Consequently, African governments can invest in cryptocurrencies to acquire alternative funding sources for developing renewable and alternative energy sources.…

Financial Literacy in Africa

Time ripe to invest in Africa’s financial literacy

Investing

Enhancing financial literacy is only one of the numerous ways Africa’s youth may be prepared for the future. Stakeholders must simplify financial literacy education and make it practical. Without simplified and functional financial literacy, one could fall victim to the prevailing financial challenges in a highly changing world marked by technological advancements. Improving financial literacy in Africa’s youth will help improve financial inclusion.…

banking in zimbabwe

Mobile technology: Death of the bank branch?

Business

The financial services space is being disrupted by new entrants that are nimble and more innovative. The overwhelming result of this has been the closure of bank branches right across the broad spectrum of the banking sector and across the country. 

Whenever a branch closes press space is taken up by the banks running adverts citing the growth and advent of mobile technology to be the cause of bank branch closures. To the passive reader it would then look as though technological advancements, growth, and adoption together with the prosperity of banks with respect to their branch networks are mutually exclusive.…

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African tech ventures that exited this past decade

Africa

The last decade (2010-2020) was an important experiment in African tech ventures moving out of the “labs” and becoming real businesses that saw investors backing them with so much capital that from 2014 to 2019, the total number of VC deals doubled every year until the advent of COVID-19, which disrupted global economic activities in 2020.[1] However, 2020 saw some notable exits including World Remit’s acquisition of Sendwave for $500M[2], Network International buying DPO for $288M[3] and Stripe taking over Paystack for $200M[4] to enter the African market as Egypt’s Fawry gain unicorn status.[5] The IPO of Fawry the third Africa tech venture reach market capitalization of over $1 billion to after Jumia[6] and Interswitch[7] was overs subscribed 30 times. 2020 ended with another notable exit, with two initial shareholders in Ghanaian fintech startup, Zeepay, exiting from an initial investment of about …