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Apple Overtakes Samsung to Grab the Top Spot in the Smartphone Market in 2023

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Apple has overtaken Samsung to take top spot in the global smartphone market, the last time a company not named Samsung was at the top of the smartphone market was 2010.

Though the data is preliminary, this is sort of shifting of power at the top of the largest consumer electronics market was driven by an all-time high market share for Apple and a first time at the top. Overall, the global smartphone market remains challenged, but momentum is moving quickly toward recovery.

According to data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, global smartphone shipments declined 3.2% year over year to 1.17 billion units in 2023. While this marks the lowest full-year volume in a decade, driven largely by macroeconomic challenges and elevated inventory early in the year, growth in the second half of the year has cemented the expected recovery for 2024. The fourth quarter (4Q23) saw 8.5% year-over-year growth and 326.1 million shipments, higher than the forecast of 7.3% growth.

“While we saw some strong growth from low-end Android players like Transsion and Xiaomi in the second half of 2023, stemming from rapid growth in emerging markets, the biggest winner is clearly Apple,” said Nabila Popal, research director with IDC’s Worldwide Tracker team. “Not only is Apple the only player in the Top 3 to show positive growth annually, but also bags the number 1 spot annually for the first time ever. All this despite facing increased regulatory challenges and renewed competition from Huawei in China, its largest market. Apple’s ongoing success and resilience is in large part due to the increasing trend of premium devices, which now represent over 20% of the market, fueled by aggressive trade-in offers and interest-free financing plans.”

“The overall shift in ranking at the top of the market further highlights the intensity of competition within the smartphone market,” said Ryan Reith, group vice president with IDC’s Worldwide Mobility and Consumer Device Trackers. “Apple certainly played a part in Samsung’s drop in rank, but the overall Android space is diversifying within itself. Huawei is back and making inroads quickly within China, Brands like OnePlus, Honor, Google, and others are launching very competitive devices in the lower price range of the high end. And foldables and increased discussions around AI capabilities on the smartphone are gaining traction. Overall, the smartphone space is headed towards a very interesting time.”

Top 5 Companies, Worldwide Smartphone Shipments, Market Share, and Year-Over-Year Growth, Q4 2023 (Preliminary results, shipments in millions of units)
Company4Q23
Shipments
4Q23 Market
Share
4Q22
Shipments
4Q22 Market
Share
4Q23/4Q22
Growth
1. Apple80.524.7%72.124.0%11.6%
2. Samsung53.016.3%59.519.8%-10.9%
3. Xiaomi40.712.5%33.211.0%22.7%
4. Transsion28.28.6%16.75.6%68.6%
5. vivo24.17.4%22.97.6%5.1%
Others99.530.5%96.132.0%3.5%
TOTAL326.1100.0%300.6100.0%8.5%
Source: IDC Worldwide Quarterly Mobile Phone Tracker, January 15, 2024
Top 5 Companies, Worldwide Smartphone Shipments, Market Share, and Year-Over-Year Growth, Calendar Year 2023 (Preliminary results, shipments in millions of units)
Company2023
Shipments
2023 Market
Share
2022
Shipments
2022 Market
Share
2023/2022
Growth
1. Apple234.620.1%226.318.8%3.7%
2. Samsung226.619.4%262.221.7%-13.6%
3. Xiaomi145.912.5%153.212.7%-4.7%
4. OPPO103.18.8%114.49.5%-9.9%
5. Transsion94.98.1%72.66.0%30.8%
Others361.831.0%377.231.3%-4.1%
TOTAL1,166.9100.0%1,205.9100.0%-3.2%
Source: IDC Worldwide Quarterly Mobile Phone Tracker, January 15, 2024

Convergence Partners to acquire 100% of Datacentrix Group

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Convergence Partners through its Convergence Partners Digital Infrastructure Fund (CPDIF) set to acquire 100% of Datacentrix Group alongside the existing management team of over 20 years. 

Alviva is exiting Datacentrix pursuant to its delisting from the JSE in early 2023, to focus on its core operations in hardware distribution. Terms of the transaction were not disclosed.

In a statement, Ahmed Mahomed CEO of the Datacentrix group said, “We are excited about the future as we start a new chapter in Datacentrix 25-year history as a highly successful business that is well respected in the market. By joining forces with Convergence Partners, we will harness what has made us successful to date and leverage the wider capabilities of the group including its reach into the rest of Africa.

The acquisition of Datacentrix will see Convergence Partners acquire exceptional skills and profound expertise in Managed Services and System Integration (SI). Convergence Partners will work alongside the Datacentrix team in building a leading SI business in South Africa and across the African continent.

According to research, the IT market in South Africa has proven resilient even during periods of economic downturn and is forecast to outpace the country’s GDP growth. Convergence Partners believes Datacentrix is well poised to capture this growth.

Datacentrix provides ICT integration services and solutions to blue chip corporates in South Africa, ensuring their success and sustainability into the digital age. The company’s approach is to partner with its customers, equipping them with valuable insight and assisting them to align their ICT undertakings with their business strategy. Datacentrix offers a deeply specialised skills and is endorsed by the world’s foremost technology partners. The company is recognised for its agility, in-depth industry knowledge, proven capability, and strong overall performance.

Datacentrix will continue to focus on expanding into technologies that delivers business value to its clients, including digital transformation solutions, hybrid solutions from edge to cloud that is informed by the customers data and workload requirements. It will continue to operate independently as it has in the past and does not envisage any changes in operations or staff.

Datacentrix is a market leader in Managed Services and System Integration and the synergy between Datacentrix’s capabilities and Convergence Partners’ extensive experience in private equity, particularly through CPDIF, is poised to deliver unparalleled value to Convergence Partners clients across Sub-Saharan Africa, North Africa, and the Middle East.

“Central to Datacentrix’s success is its people – from the staff to the leadership team, they represent the company’s most valuable asset. At Convergence Partners, we hold a deep appreciation for the talent and dedication of the Datacentrix team. It is through their collective expertise and commitment that we envision growing the business to new heights, furthering our impact in the digital infrastructure landscape.”commented Andile Ngcaba, Chairman of Convergence Partners.

The transaction is expected to close in Q1 2024, subject to the customary regulatory approvals including approval by the Competition Authority of South Africa and the Independent Communications Authority of South Africa (ICASA).

Samsung Redefines Consumer Electronics Landscape with AI-Centric Innovations

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Samsung Electronics Co., Ltd is set to revolutionise the consumer electronics industry with its unwavering commitment to AI-driven technology. Recognising AI as the cornerstone of innovation, Samsung is reshaping the future of its products, embedding AI capabilities across a diverse spectrum of devices.

“At Samsung, AI isn’t just a feature; it’s the catalyst for transformative experiences. We are reimagining consumer electronics, infusing AI into our products to create personalised, intuitive, and seamlessly connected experiences,” said Mr. Sam Odhiambo, Head of Consumer Electronics at Samsung Electronics East Africa.

Samsung’s AI-centric approach aims to transcend traditional device boundaries, enriching users’ lives through smarter, more inclusive experiences. With a robust portfolio encompassing over 500 million smart devices annually, Samsung is uniquely positioned to democratise AI, integrating it into everyday life.

“Central to Samsung’s strategy is fostering an open ecosystem, facilitating collaborations with partners to enrich AI experiences. The SmartThings platform, already hosting millions of devices, exemplifies Samsung’s commitment to collaborative innovation,” said Mr. Sam Odhiambo.

The company’s decade-long investment in AI technology is evident in its popular products and evolving services. Samsung is not only enhancing user experiences but also focusing on responsible innovation. Sustainability, accessibility, and reduced environmental impact are integral to Samsung’s AI initiatives.

Samsung’s AI-led innovations span across diverse categories, such as visual display, digital appliances, mobile experiences, and automotive technology. From AI-powered visual displays offering unprecedented clarity to smart home appliances seamlessly integrated with AI for enhanced functionality, Samsung’s products exemplify the potential of AI in reshaping everyday experiences.

“Samsung Neo QLED 8K QN900D boasts a built-in AI Processor, NQ8 AI Gen 3, equipped with an 8 times greater AI neural network and two times faster NPU than its predecessor. Thanks to the NQ8 AI Gen3 processor, Samsung Neo QLED 8K automatically upscales low-resolution content to provide users with up to 8K quality viewing experience and sharpens fast-moving images via AI Motion Enhancer Pro. The Samsung Neo QLED 8K also features Active Voice Amplifier Pro, which analyses voice and background noise by AI to optimise your TV listening experience so you can enjoy various content as if you are in the front row of a stadium or movie theatre. Samsung Neo QLED 8K also features Tizen OS Home, which offers the latest apps, services, personalised content, and service recommendations to upscale your entertainment experience,” noted Mr. Sam Odhiambo.

Samsung’s dedication to AI is evident in its efforts towards security advancements, resource circularity, and energy conservation. The company is committed to achieving net-zero goals and actively employs recycled materials in its products, showcasing its dedication to sustainable practices.

Samsung’s relentless pursuit of AI excellence extends to creating inclusive technology, ensuring its products cater to diverse user needs. The company’s focus on AI is not just about technological advancement; it’s about empowering users and enriching their lives.

General Atlantic Acquires Actis To Create A $96 Billion global investment platform

General Atlantic, a  global growth investor, and Actis, a  global investor in sustainable infrastructure have  signed a deal that will allow General Atlantic to acquire Actis, creating a diversified, global investment platform with approximately $96 billion in combined assets under management (AUM.

Althogh the financial terms for the transaction remain undsclosed with  approximately $12.5 billion in AUM.Actis will become the sustainable infrastructure arm within General Atlantic’s global investment platform.

Bill Ford, Chairman and Chief Executive Officer of General Atlantic, commented: “Addressing the global paradigm shift toward sustainability requires an economic transformation and a capital investment on a massive scale. With the addition of Actis, we are taking a significant step forward to add a sustainable investment capability which positions General Atlantic to capture this opportunity set for our investors.Torbjorn and the Actis team have built a business recognized for its talent, domain expertise, and commitment to investment excellence. This transaction brings together two highly complementary firms and enhances General Atlantic’s global investment platform with greater scale, broader strategies, and deeper and more lo cal capabilities for deal sourcing and company building.”

As part of the deal,Actis will continue to be led by its Chairman and Senior Partner, Torbjorn Caesar, and will retain independence over its investment decisions and processes with its funds operating under the existing Actis brand.

Together, Actis and General Atlantic will be uniquely positioned to unlock opportunities for investors that lie at the intersection of the energy transition, digitization, and the shift in economic dynamism to growth markets and beyond. Furthermore, this partnership reinforces Actis and General Atlantic’s similar cultures and investment philosophies.

General Atlantic was founded in 1980 and has deployed more than $60 billion in global growth companies. In addition to its flagship growth equity strategy, the firm’s investing activities span credit and climate solutions.

Torbjorn Caesar, Chairman and Senior Partner of Actis, said: “We are very excited to be joining forces with General Atlantic. The combined firm brings together distinct but highly complementary strategies that unlock long-term value for our investors across key structural themes including the energy transition and digital transition. The whole is greater than the sum of the parts. Both firms also have a hands-on approach to building businesses and platforms, and a shared commitment to sustainability.”

The acquisition advances General Atlantic’s strategic diversification by adding sustainable infrastructure as a distinct, complementary offering alongside its existing capabilities in Growth, Credit and Climate.

 The partnership advances both firms’ strategic diversification, combining real assets with a range of investment strategies and brings together two global investors with a collective commitment to sustainability and supporting the energy transition. 

The energy transition is a growing segment of the global economy that is expected to require annual investment of approximately $2.4 trillion by 2030.

To address this need, the transaction will strengthen the combined organization’s focus on delivering renewable power and scaling sustainable infrastructure.

Nigeria’s alGROWithm secures funding to scale its Growth Talent Accelerator Program across Africa

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Nigeria’s alGROWithm,a talent accelerator has secured funding to scale its Growth Talent Accelerator Program across Africa, nearly two years after it started building Africa’s first ever Growth Talent Accelerator Program (GTAP) in March 2022.

With the funding, alGROWithm will unlock talent-driven pathways for driving sustainable Growth by enabling it to offer scholarships for aspiring Growth Hackers to join their programs and fuel the expansion of their training programs into new African markets.

According to Founder & Chief Growth Officer, Bili Sule, “Since our pilot in 2022, we’ve identified two critical needs in the ecosystem. There’s a persistent demand for more Growth Hacking talent, demonstrated by the swift employment of our past trainees. Secondly, we observed that many companies also sought to up-skill their existing teams instead of starting from scratch with new talent.”

GTAP is now open to applicants from Kenya, Rwanda, Uganda, and South Africa, amplifying its reach alongside its original bases in Nigeria and Ghana. Applications for their next cohort close in February.

GTAP has both GTAP Lite and GTAP Pro. GTAP Lite is the 100% online version that caters to individual Growth enthusiasts, while GTAP Pro empowers companies to transform their existing internal teams into Growth Engineers. Pro is also deployed through a hybrid delivery structure that includes in-person Growth Hacking bootcamps, as well as online lectures and workshops.

Bili Sule emphasizes, “We ran the Pro model with companies like Paga, Figorr, and Kebble  last year, with great results. This fueled our decision to offer both propositions moving forward. This year alone, we aim to train over 150 Growth Leads across East, West, and Southern Africa, which is a testament to our ongoing commitment to bridging the Growth talent gap in the ecosystem, and propelling African businesses to new heights.”

For those aspiring to join the ranks of Africa’s elite Growth Engineers, alGROWithm’s GTAP is not just a program; it’s a transformative journey.

Explore the full spectrum of GTAP offerings at www.algrowithm.com/gtap.

Here Is How Your Business Can Benefit From Boostika with Equity

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Mama Cherop trades in high quality secondhand clothes, popularly known as “camera,” at Nairobi’s bustling Toy Market. She sources her supplies from a wholesaler at Gikomba market on Saturdays. Usually, she spends about Kes 10,000 on new supplies every weekend. Last Saturday when she visited her supplier, she found an extra bale of nice denim trousers for ladies that she had not budgeted for but which she thinks would sell fast among her usual clientele. The challenge though was that she did not have the extra cash.

Mwongeli, a fellow second-hands trader reminded her about an SMS she received from Equity, about Boostika, a solution that enables customers (businesses and individuals) to complete transactions even when they are low on funds when making a payment, sending money, or buying airtime using *247#, Equitel or Equity Mobile App.

Mama Cherop had a limit of Kes 7,500 which enabled her to clear the extra Kes 3,600 bill for the bale of denim trousers that she wanted to purchase.

As a business owner, having the required funds to buy new stock, is crucial in ensuring you have enough stock to keep your business going. However, there are moments when you want to acquire an extra item that is so important to you while shopping. In most instances, this is unplanned and may require additional funds. With Boostika for Biashara, you will not have to knock some items off your stock list because of insufficient funds.

Here is what you need to know about Boostika:

  1. How To Use It When Running Low On Funds

If you are low on funds when making a payment, sending money or buying airtime using *247#, Equitel or Equity Mobile App, you can utilize Boostika in the following simple ways without exiting the payment journey.

  • You will receive a Boostika prompt displaying your limit, and the amount required to complete the transaction.
  • You will be required to accept the prompt to proceed as well as the terms and conditions.
  • An SMS notification will then be sent to you to confirm and complete the transaction.
  • Note you can access Boostika multiple times and can continue to utilize Boostika after repayment.
  • The Channels Boostika is Available on

Currently, Boostika is accessible when sending money or making a payment using *247# on any telco or on Equitel or Equity Mobile App.

  • Who Can Use Boostika?

Boostika is currently available to the following;

  • Customers sending money or making a payment using *247#, Equitel or Equity Mobile App
  • Customers with a good repayment history and are therefore pre-qualified for a loan limit.
  • Customers with an active Equity account
  • What are the key benefits of Boostika?
  • Unsecured Credit: The Boostika of Kshs. 100 – Kshs. 100,000 is unsecured, with a re-payment period of up to 30 days.
  • Convenience: The Boostika option is embedded on the transaction journey when one runs low on funds when making a payment, sending money or buying airtime, therefore offering one the convenience of completing a transaction seamlessly without exiting the payment journey.
  • Ease of access: You will simply receive a Boostika prompt displaying your limit, and the deficit required to complete the transaction.
  • Multichannel Accessibility: Boostika is available for payments made through multiple channels i.e. 247# on any telco, or Equitel or Equity Mobile App
  • Multiple Usage: One can Boostika as many times as possible
  • Financial Management: You only Boostika what you require at that particular time, making it easy for you to manage your finances.
  • How do you know your outstanding balance on Boostika?

There are three ways you can know your outstanding Boostika Balance; it is either through *247# USSD, through Equity Mobile App, and through Equitel.

  • Dial *247# on Safaricom, Airtel, Telkom, Equitel > Borrow > View Loan balances.
  • Equity Mobile App > Go to Borrow > Get Loan > Eazzy loan> Loan Balance
  • Equitel > My Money > Eazzy Loan > Loan Balance

Traditionally, applying for loans was considered a lengthy and time-consuming process as one had to wait for approval and disbursement of funds to their account. With Boostika, you have all the power in your hands and can get a boost on your funds by following simple steps without exiting your payment journey.

Fintech startup Pesaflow partners Visa to launch virtual & digital payment cards and secure gateway services

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Visa, a global leader in digital payments and Pesaflow, a Kenyan fintech firm have partnered to streamline and enhance digital government ecosystems while fostering financial inclusion.

Pesaflow has made a significant impact in digital government ecosystems with its groundbreaking solutions that create government platforms for government services and offer a simple and reliable way to collect payment services from the public and helps track all transactions made by enhancing collection of revenue and reducing leakages.

By partnering with Visa, Pesaflow will leverage Visa’s extensive reach and robust security infrastructure to deliver enhanced services to the public sector and to citizens accessing government services.

 “We are thrilled to partner with Pesaflow and believe that this collaboration will revolutionize how the public sector offers government services. Together, we will enhance a digital government ecosystem that is efficient, cost-effective, secure, transparent and inclusive, empowering the public sector to better serve citizens. This is also part of our initiative to support the growth of fintechs through partnerships that bring about innovative solutions”, Said Eva Ngigi-Sarwari, Country Manager, Visa Kenya

The partnership will focus on creating seamless, user-friendly digital payment platforms integrating virtual, digital cards and secure gateway services that ensure transparent, secure transactions while promoting financial inclusion.

“We are incredibly excited about this strategic partnership with Visa. This collaboration marks a pivotal moment for Pesaflow, as we unite our innovative digital payment solutions with Visa’s global network and security infrastructure. Together, we aim to revolutionize the landscape of digital payments within the public sector, ensuring accessibility, security, and efficiency. This alliance underlines our commitment to driving financial inclusion and transforming the way transactions are managed in the public sphere.” David Kiprono, Director of Government Relations and Communications, Pesaflow

The Visa Government Solutions team will work closely with Pesaflow to digitize government services and integrate Visa solutions to create robust options for payments to citizens and collection of revenue by government   to enhance digital government ecosystems.  This will enable the government and other public sector players to efficiently manage their finances, reduce costs, and provide better services to their citizens.

LG Unveils New Styler that Straightens Garments and Significantly Reduces the Need for Ironing

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LG Electronics (LG) has introduced its new cutting-edge LG Styler, featuring a handheld, high-pressure steamer, Dynamic Moving Hanger™, and Dual TrueSteam™ technology.

Unveiled at the Consumer Electronics Show (CES) 2024 in Las Vegas, USA, this advanced clothing care solution offers faster and more effective clothes-refreshing cycles with improved drying, dehumidification, and de-wrinkling performance. This groundbreaking innovation resonates with LG’s dedication to creating technologies that empower you to ‘Live your Moment’.

The high-pressure steamer within the LG Styler simplifies the process of removing wrinkles from shirts and garments, eliminating the need for a separate iron. Users can effortlessly hang their wrinkled clothes inside the styler and initiate the steam process with the touch of a button. The powerful, high-pressure steam penetrates garments, leaving them smooth and soft, significantly reducing the necessity for ironing1. Additionally, the compact size of the high-pressure handy steamer enhances convenience and allows for easy storage inside the Styler.

The exclusive Dynamic Moving Hanger system in the LG Styler caters to various garment types and fabrics, providing enhanced care compared to its predecessor. Unlike the Moving Hanger, the new system employs a Twisting Motion, a rotating mechanism that contributes to improved dust removal, deodorization, drying, and wrinkle mitigation. It also supports upgraded cycles, such as the Fine Dust cycle, which vigorously shakes clothing items to remove both large and fine dust particles.

Key to the new Styler is LG’s Dual TrueSteam technology, utilizing two heaters for precise control of steam spray volume and strength. This technology is particularly beneficial for delicate fabrics like silk and cashmere, ensuring gentle fabric care through optimized steam-flow control. Dual TrueSteam excels in sanitizing, eliminating over 99.9 percent of germs and 11 harmful bacteria in clothing2.

The Styler incorporates a built-in ventilation system that automatically circulates air throughout the room and a dehumidification function capable of collecting up to 10 liters of moisture3, creating a pleasant indoor environment and preventing clothes from becoming damp after removal.

For added convenience, the Styler features a time-saving Pants Press with an upgraded hanging structure for sharper, wrinkle-free creases. The intuitive-to-use LCD touchscreen streamlines course selection for efficient management.

Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company, highlighted the LG Styler as a versatile clothing care solution, ensuring optimal care for diverse fabrics and convenience for customers. As a pioneer in clothing care systems, LG aims to continually enhance the Styler’s capabilities, redefining wardrobe management and simplifying the task of keeping clothes fresh.

LG showcased the Styler among several dozen innovations at CES 2024. For more information, visit www.lg.com/ces2024 and LG Global YouTube channel.

What Does it Take to Obtain a Forex Licence?

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Due to the substantial growth in forex trading, a wide range of service providers, including brokers, advisors, retail traders, and trading platforms, have emerged. But this has also resulted in illicit operations exploiting the absence of laws in some areas of the world. 

Forex licensing laws were created to solve this issue by defining guidelines and creating a standard framework for trading service providers. Various licences and permissions are issued by different authorities to legalise FX brokers and allow them to execute orders and conduct financial transactions.

Reasons to Retrieve a Forex Licence

One of the most critical oversight and regulation organisations in Europe and the UK for firms and brokerage houses is the Financial Conduct Authority (FCA) of the United Kingdom. By requiring brokers to get an FCA licence in order to lawfully provide trading services on certain goods under permissible conditions, it fosters market integrity and transparency. FCA also requires complete AML compliance

Cyprus Jurisdiction

One of the most well-known regulators in the area is the Cyprus Securities and Exchange Commission (CySEC), which gives brokers the legal authority to do business and offer trading services to customers throughout Europe.

Mauritius Jurisdiction

Mauritius’s minimal entry criteria and streamlined processes make it a preferred offshore option for Forex firms. A $2,500 yearly licence fee and a minimum capital of $22,000 are required for businesses to launch their brokerage services. In Mauritius, registering and opening a Forex brokerage is relatively quick; a business permit may be obtained in less than a month, and a Forex licence can be obtained in around three months.

Vincent and the Grenadines Jurisdiction

Security and adaptability are hallmarks of St. Vincent and the Grenadines Forex Licence, which employs a model to identify questionable activity and takes preventative action to halt illegal enterprises. Additionally, it offers liberal laws for establishing a brokerage business, taking fiat and cryptocurrency payments, and offering a higher tolerance threshold for leveraged trading.

Closing Remarks

To sum up, forex licences are the frameworks that brokerage firms use to run their operations and carry out financial transactions. While offshore regulators are more lax when it comes to financial company behaviour, European regulators, such as CySEC and FCA, are leading authorities in Forex licensing with strict guidelines.

Exness launches applications for its Fintech Scholarship Program in South Africa

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Multi-asset broker Exness has launched   applications for its Fintech Scholarships program from exceptional South African students.

This marks the second consecutive year of the program’s operation in the country, underlying Exness’ ongoing dedication to supporting education in STEM fields in South Africa.

Martin Thorvaldsson, Exness Head of Community, expressed his enthusiasm, stating, “We are excited to continue the Exness Fintech Scholarships Program for a second consecutive year in South Africa, allowing exceptional young minds to shine in a tech-related field. Following the program’s success, we are eager to support another cohort of talented students and help them contribute in their own way to the advancement of technology and science both in South Africa and the world as a whole! At Exness, we are strong believers in the transformative power of education and technology, and these scholarships embody our dedication to fostering talent that has the potential to bring great advancements in our sector.”

Exness Fintech Scholarships is designed to create a pathway to academic excellence and career development for outstanding, underprivileged, talented individuals, empowering them to be the next generation of tech leaders. 

In partnership with the  University of Cape Town (UCT), the country’s most prestigious institution, Exness will once again support the educational pursuits of university students in science and tech-related courses.

Applicants should hold an offer of acceptance from the University of Cape Town for Computer Science or Mathematics and maintain a grade average of over 70% (or equivalent)

Recipients of the scholarships will receive comprehensive financial assistance that covers tuition fees in full and living expenses fully or partially, depending on the candidate’s financial needs. To qualify, applicants should hold an offer of acceptance from the University of Cape Town for Computer Science or Mathematics and maintain a grade average of over 70% (or equivalent).

Exness Fintech Scholarships already empowers 3 University of Cape Town students and 50 other students from Cyprus and Kenya. The program has plans to expand its reach in more countries, offering more promising individuals the chance to realize their educational aspirations and career dreams in technology.

Calling All Tech Innovators: Accelerator Programs Open Doors for African Startups

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The African tech scene is brimming with potential, and a wave of exciting opportunities is emerging for early-stage startups to propel their growth.

From nurturing EdTech ventures to scaling Fintech solutions, these accelerator programs offer invaluable support and resources to help budding entrepreneurs turn their dreams into reality.

Spark Up Your Growth: Safaricom, M-PESA Africa, and Sumitomo Corporation have joined forces to launch the Spark Accelerator program, seeking high-impact startups across various sectors. This program promises mentorship, funding, and access to industry networks, with applications closing on February 16th, 2024.

$125k Boost for African Dreams: Norrsken22 is extending a helping hand to African startups with its $125k Accelerator Program. This initiative provides critical funding, along with expert guidance and market access, to fuel the success of promising ventures.

Visa Opens Doors for Global Reach: Cohort 2 of the Visa Accelerator Program is now welcoming applications. This program empowers startups with the tools and connections to scale their solutions across borders, with applications closing on February 18th, 2024.

Shaping the Future of Education: EdTech startups, take note! CcHUB is seeking innovative companies to join its 2024 cohort. This program offers tailored support, community building, and potential investment opportunities to help EdTech ventures revolutionize learning experiences. Applications close on February 17th, 2024.

Invest in Your Future: The MEST Training Program is offering a unique opportunity for aspiring tech entrepreneurs. This fully-sponsored, one-year program provides comprehensive training in software development, business development, and leadership, preparing graduates to launch and scale successful tech ventures. Applications are open until March 18th, 2024.

These accelerator programs are more than just funding and mentorship; they represent a springboard for African tech talent to take on the world.

So, if you’re a passionate entrepreneur with a disruptive idea, don’t miss this chance to ignite your startup journey. Apply today and join the next generation of African tech pioneers!

Cameroonian startup OnDjoss to expand into Central and West Africa

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Cameroonian messaging app OnDjoss has announced plans to expand its offering following its successful initial uptake in the country.

Founded in March 2022 by a Cameroonian student, the messaging platform has numerous innovative features, including a payments feature that went live in August. OnDjoss is the African version of WhatsApp with the ability of sending large files ,it also has voice messages, group chats and calls.Currently the app has registered 300,000 downloads, and facilitated thousands of dollars of money transfers.

According to CEO and Co-founder Kenyo Valdo ,the app has received acclaim for its efficiency, security, and ease of use.He said,

now, we are eager to expand and dominate our local market. We also plan to integrate banks to our platform to widen the scope of transfers.”

TThe company aims to now expand its services into Central and West Africa and is seeking investment to fuel its growth. 

“The demand for easy and secure money transfer solutions is rapidly growing, and OnDjoss is poised to capture a significant market share with its innovative approach,” said Valdo.

“We are seeking EUR870,000 (US$950,000) in seed funding to support our growth efforts and developing more features. The funds will be allocated towards marketing, technology enhancements, and market penetration strategies.”

Gen F Empowers African Startups with $250k Boost and Hands-on Support

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Gen F initiative is launching a $250,000 investment program to fuel your innovative ideas and propel them into reality.

This isn’t just about cash; it’s about a comprehensive 12-week sprint packed with expert guidance, resources, and the chance to make your dreams take flight.

What Gen F Offers:

  • Financial springboard: Bootstrap your ideas with seed funding of up to $250,000 upon successful pitching to our Investment Committee.
  • Expert mentorship: Dive into a Venture Design Studio where experienced venture builders will help you refine your concept, hone your business model, and navigate the startup journey.
  • Validation tools: Conduct real-world market experiments with a dedicated budget to test your ideas and gather valuable feedback.
  • Seamless launch: If your idea shines, gain access to studio services and support to launch your startup smoothly.
  • Holistic support: Get expert assistance in every area, from product development and UX/UI to data science and growth marketing.
  • Network advantage: Leverage on extensive network of distribution channels, customer acquisition opportunities, pilot programs, and valuable data resources.
  • Impactful focus: Ideas with significant commercial potential are prioritized alongside a strong positive impact on local African communities.

Who can join the Gen F journey?

  • Experienced startup veterans: You understand the challenges and know what it takes to build a successful venture.
  • Subject matter experts: You have a deep understanding of a specific problem and a passion to solve it through innovation.
  • Corporate trailblazers: You’re ready to transition from the corporate world to the world of entrepreneurship and fill a gap in the market.
  • Proven operators: You have a track record of success in African startups and are eager to take on a new challenge.
  • Visionary minds: You have a well-researched concept addressing a critical African challenge with a vast market potential.
  • Full-time dedication: You’re committed to dedicating 10-12 weeks to refining your idea and then going all-in on your startup.

Apply now! There’s no deadline, so don’t wait – seize the opportunity to join the Gen F community and turn your vision into reality.

Takataka Plastics Tackles Uganda’s Plastic Woes

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In Gulu, Northern Uganda, a startup called Takataka Plastics is turning trash into treasure, offering an innovative solution to the city’s plastic woes.

Founded in 2020 by Peter Okwoko and Paige Balcom, the startup takes a circular economy approach. They collect plastic waste from surrounding areas, primarily polyethylene terephthalate (PET) from plastic bottles and packaging. This waste, often dumped irresponsibly due to high transportation costs to distant recycling facilities, finds new life at Takataka.

Using locally-made polymer processing equipment, the firm creates their flagship product: TakaTiles. These durable, affordable tiles made from recycled PET offer a sustainable alternative to traditional ceramic tiles. Launched in January 2023, TakaTiles have already gained popularity, selling out to hardware stores and construction companies across Gulu.

The firm’s vision extends beyond tiles. They’re branching out into producing a range of other sustainable products, including plant pots, chairs, coasters, laptop holders, and even visors for medical staff. This diverse product portfolio showcases the versatility of recycled plastic and caters to various needs.

Takataka’s impact goes beyond the environment. The startup employs 54 individuals, 26 of whom are vulnerable young community members. They actively promote responsible recycling practices by educating over 1,000 school pupils and training university students through their internship program.

With demand for TakaTiles exceeding current capacity, Takataka is poised for growth. A recent grant will fund a new permanent facility, transforming them into the largest PET recycler in East Africa. This expansion will create a production hub, workshop, storage space, community building, and even guest cottages for visitors and interns.

Takataka’s pioneering efforts haven’t gone unnoticed. The Swedish Embassy, the UN Food and Agriculture Organisation (FAO), various foundations, the Ugandan Ministry of Water and Environment, and academic institutions like Stanford University and UC Berkeley are now partnering with the startup.

Across the globe, plastic pollution casts a long shadow. Every year, over 400 million tonnes of plastic are produced, with a mere 10% recycled and the rest littering our planet. In Africa, this plastic plague contaminates vital water sources and ecosystems, posing a serious threat to both human health and the environment.

Canza Receives $2.3 Million to Boost Africa’s Crypto Cross-Border Trade

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African crypto startup Canza Finance has secured a $2.3 million funding boost to fuel its mission of making cross-border trade smoother and cheaper across the continent.

This strategic investment, led by Polychain Capital and backed by Protocol Labs and others, will primarily target the development of Canza’s flagship stablecoin exchange, Baki.

Baki aims to tackle two major hurdles faced by African businesses: limited access to foreign exchange and volatile exchange rates.

By creating “zTokens” pegged to African currencies like the Nigerian Naira and the South African Rand, Baki offers a stable and decentralized alternative to traditional forex markets.

Businesses can swap zTokens within the Baki platform, eliminating the need for expensive intermediaries and opaque exchange rates.

Canza’s vision extends beyond Baki. The funding will also be used to bolster infrastructure development across Africa, obtain necessary licenses in key jurisdictions, and expand DeFi product offerings.

With a focus on markets like Nigeria, Cameroon, Senegal, and the United States, Canza is actively building partnerships with on-ramp and off-ramp providers to facilitate seamless fiat-to-crypto conversions.

Canza isn’t alone in this space. Helicarrier’s Desk service offers similar cross-border settlement solutions. However, Canza’s Baki stands out by offering a DeFi-powered platform with its own synthetic currency ecosystem.

“We aim to significantly boost infrastructure development, particularly in Africa. With over 50 countries on the continent, our focus is on expanding infrastructure and obtaining necessary licenses in suitable jurisdictions. Additionally, we will drive the growth of our DeFi infrastructure products,” says Co-Founder and Chief Technology Officer Oyedeji Oluwoye. 

The biggest challenge lies in gaining widespread adoption. Canza needs to convince businesses and financial institutions to embrace zTokens and integrate them into their operations. Regulatory hurdles across different African countries add another layer of complexity.

Despite the challenges, Canza’s strategic funding and innovative approach offer a glimpse into a future where African businesses can trade across borders with greater ease and transparency.

Nigeria’s Edo State Tech Startups Get a $700,000 Boost from CcHub

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Tech innovation hub, Co-creation Hub alias CcHub has announced a $700,000 investment in Edo State-based tech startups, aiming to fuel the state’s digital ecosystem.

This exciting initiative, launched on Friday, offers crucial funding and support to promising tech ventures in Edo.

The investment is divided into two programs, catering to diverse startup needs:

  • Inclusion-Focused Support Program: This program awards $10,000 each to 30 startups with underrepresented founders and teams, particularly women.
  • Innovation Challenge Program: This program offers $20,000 each to 20 startups with innovative ideas and market potential, regardless of founder demographics.

“Dive into opportunity,” Co-creation Hub beckons, inviting Edo’s tech talents to apply before the February 12 deadline.

This investment comes amidst a thriving tech scene in Edo State. In 2022, the state government reported an exponential rise in tech startups and entrepreneurial activity. With this momentum, Edo is poised to become a leading African startup hub, contributing significantly to the continent’s $6.6 billion startup ecosystem.

CcHub, co-founded by Nigeria’s current Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, is partnering with the Edo State Government and the Bill & Melinda Gates Foundation to make this initiative a success.

This collaboration showcases a strong commitment to nurturing Edo’s tech talent and propelling the state’s digital future.

Mawingu Connects Taveta Town

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Mawingu, a leading Kenyan internet service provider has announced its expansion, connectig its network to Taveta Town.

This marks a significant milestone as Mawingu reaches its 26th county, bringing affordable and reliable internet to even more Kenyans.

“Our expansion into Taveta Town is another step towards making meaningful internet access available to everyone in Kenya,” said Farouk Ramji, Chief Executive Officer (CEO) of Mawingu. “The digital economy is booming, and we want to empower more Kenyans to participate in the knowledge and connections it offers.”

Mawingu’s commitment lies in connecting underserved towns and urban centers that have been neglected by other providers. With its unique model, the company delivers stable, reliable, and affordable internet even in areas with high infrastructure costs and logistical challenges.

“We understand that internet access is not just about cables and connections,” Mr Ramji added. “It’s about opening doors to new opportunities for work, education, entertainment, and social connection. That’s why Mawingu is dedicated to offering meaningful internet at competitive prices, using sustainable and flexible infrastructure.”

In addition to its current wireless and solar-powered network, Mawingu is also testing fiber technology in some existing markets to further enhance internet quality. This focus on innovation and customer needs differentiates the firm from the competition.

“We don’t just drop internet at your doorstep,”the CEO emphasized. “We go the extra mile to ensure our customers truly benefit from the power of the internet. That’s why we’re committed to expanding our network across Kenya and reaching even more communities in 2024.”

ThriveAgric To Support 100,000 Farmers For 2023/2024 Dry Season Farming Cycle

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ThriveAgric,a Nigerian Agricultural technology company focused on food security has flagged off its 2023/2024 dry season farming cycle with the distribution of agricultural input over 100,000 smallholder farmers in northern Nigeria to facilitate the production of over 300,000MT of grains.

As part of the initiative, the company aims to provide farmers with irrigation facilities, drought-resistant input, access to technology, storage, and premium markets to help optimise output in this farming cycle.

According to Oshone Anavhe, Vice President of Operations at ThriveAgric , “In Sub-Saharan Africa, approximately 95% of food production relies on rainfed agriculture. The dry season however remains mostly under-utilised for farming due to the absence of necessary infrastructure and widespread unavailability of drought-resistant inputs.

For the 2023/2024 farming cycle,  ThriveAgric intends to leverage partnerships to impart thousands of smallholder farmers, especially those in the wheat, rice and maize value chain, by providing them with access to technology, irrigation facilities, drought-resistant input and premium markets.

If harnessed at a national scale, dry season farming has the potential to jumpstart food sufficiency in Nigeria, therefore we call on the government to invest in enabling infrastructure that would in turn attract investors and engage more farmers for dry season farming.

The flag-off was announced at an event in Jigawa state, Nigeria. The event brought together various stakeholders including financial institutions, government officials, farmers, and representatives of the farming communities from Jigawa, Bauchi, and Kano.

Conversations centred on the challenges and opportunities of crop cultivation during the dry season. Participants shared valuable insights on optimising crop yields, implementing effective water management, and developing coping mechanisms for the drought conditions often associated with this period.

Smallholder farmers encounter challenges during the dry season, stretching from August to September in the South of Nigeria and September to April in the North. With sparse rainfall and high temperatures, dry-season farming is extremely dependent on irrigation – access to water sources and drought-resistant seeds become crucial, affecting food security.

Matthew Omega, Regional Manager, Sterling Bank commented, “We believe in the transformative power of agriculture to drive economic growth and sustainability. Our collaboration with ThriveAgric exemplifies our commitment to providing innovative and accessible financial solutions for farmers. By joining forces, we aim to empower smallholder farmers, and the agricultural communities, promote responsible financial practices, and cultivate a future where prosperity and sustainability co-exist.”  

‘Airtel Customer Care on Wheels’ connects subscribers to Airtel services on the go

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The ‘Airtel Customer Care on Wheels’ is one of the latest innovations that demonstrates the importance of getting closer to the customer. It provides a customer experience that seamlessly connects subscribers to the company’s services at their convenience.

The Airtel bus, which was launched in Kisumu to serve as a central customer care hub within the Western region, gives customers access to personalized services with the Airtel customer care bus in line with the brand’s promise to enrich the customer experience.

Operated by Airtel customer experience executives, the bus is equipped to handle a wide range of customer service needs including SIM card replacements, post-paid and prepaid product upgrades, resolution of common customer queries e.g., Airtel Money, SIM reset and funds reversal, airtime top-up, home broadband set-up queries, bill payment inquiries and many more, including KYC updates.

This initiative is a significant step towards fulfilling Airtel’s promise of providing convenient access to its services, increasing its customer service footprint across the country.

This unique mobile customer care unit provides easy access to their customers who may not have easy access to a customer care center, ensuring that their concerns are promptly and effectively addressed.

As Airtel continues to eliminate the barriers that have hindered some communities from accessing their customer care support by bringing their services directly to the people, its customer care bus initiative is yet another demonstration of the company’s commitment to enhancing the customer experience.

Affordability and availability of quality mobile devices continues to support this growth since they provide seamless connectivity and access to information. It also offers users financial inclusion and access to goods and services that increase the quality of life.

Airtel remains committed to offering its subscribers top-notch customer experience as evidenced by the convenience brought about by the ‘customer care on wheels bus.’

Oikocredit injects $5 million into Kenya’s Juhudi Kilimo to support smallholder farmers and SMEs

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 Impact investor Oikocredit has approved a five-year loan of US$ 5 million (KES 750 million) to Juhudi Kilimo, a non-deposit-taking microfinance institution (MFI) in Kenya, in a move expected to empower smallholder farmers and micro enterprises in the country’s rural and periurban areas.

The agreement with Oikocredit aligns with Juhudi Kilimo’s commitment to providing customised loans and enhancing financial independence for individuals in underserved communities.

Juhudi Kilimo has an outstanding loan book of KES 2.5 billion, with more than 84 per cent dedicated to the agricultural sector. The institution was recognised by Starbrands Awards East Africa as the top microfinance provider of agricultural financing in Kenya last year.

The MFI has a track record of delivering financial inclusion. It serves more than 70,000 clients across 52 branches in 33 Kenyan counties.

Bernard Kivava, Juhudi Kilimo’s CEO, said, “This long-term funding from Oikocredit will support our strategic plan to offer affordable and accessible medium-term financing to our customers, especially in rural and periurban areas with the overreaching goals of improving livelihoods and contributing towards food security across the country.

“As we expand our touchpoints to customers through the use of new technology and by establishing new service centres and branches, we feel privileged to have access to the funds, which will enable us to serve both our existing and new customers,” he added.

Michael Kariah, Oikocredit’s Investment Officer for East and Southern Africa, said, “We are pleased to be working with Juhudi Kilimo as one of our newest long-term partners. Our missions align around supporting local communities, creating jobs and improving food security, among other social issues in the continent. We look forward to working closely with Juhudi Kilimo to make a lasting impact in these areas.”

Vodafone & Microsoft to invest $1.5 billion in cloud and AI services in Europe and Africa

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Vodafone will invest $1.5 billion over the next 10 years in cloud and customer-focused AI services developed in conjunction with Microsoft in a 10-year strategic partnership that leverages their respective strengths in offering scaled digital platforms to more than 300 million businesses, public sector organisations, and consumers across Europe and Africa.

The two will collaborate to transform Vodafone’s customer experience using Microsoft’s generative AI, hyperscale Vodafone’s leading managed IoT connectivity platform, develop new digital and financial services for businesses, particularly SMEs across Europe and Africa, and overhaul its global data centre cloud strategy.

Vodafone will invest $1.5 billion over the next 10 years in cloud and customer-focused AI services developed in conjunction with Microsoft. Additionally, Microsoft will use Vodafone’s fixed and mobile connectivity services. Microsoft also intends to invest in Vodafone’s managed IoT connectivity platform, which will become a separate, standalone business by April 2024. The new company will attract new partners and customers, driving growth in applications and expanding the platform to connect more devices, vehicles, and machines.

The digital services generated by the new partnership will use the latest generative AI technology to provide a highly personalised and differentiated customer experience across multiple channels. They will be built on unbiased and ethical privacy and security policies under Vodafone’s established framework for responsible AI.

Margherita Della Valle, Vodafone Group chief executive, said: “Today, Vodafone has made a bold commitment to the digital future of Europe and Africa. This unique strategic partnership with Microsoft will accelerate the digital transformation of our business customers, particularly small and medium-sized companies, and step up the quality of customer experience for consumers.”

“This new generation of AI will unlock massive new opportunities for every organisation and every industry around the world,” said Satya Nadella, chairman and CEO, Microsoft. “We are delighted that together with Vodafone we will apply the latest cloud and AI technology to enhance the customer experience of hundreds of millions of people and businesses across Africa and Europe, build new products and services, and accelerate the company’s transition to the cloud.”

The companies have identified five key areas of collaboration:

  • Generative AI: The companies will apply the power of Microsoft Azure OpenAI to deliver frictionless, real-time, proactive, and hyper-personalised experiences across all Vodafone customer touchpoints, including its digital assistant TOBi (available in 13 countries). Vodafone employees will also be able to leverage the AI capabilities of Microsoft Copilot to transform working practices, boost productivity and improve digital efficiency.
  • Scaling IoT: Microsoft intends to invest in Vodafone’s new, standalone global Internet of Things (IoT)-managed connectivity platform, which connects 175 million devices and platforms worldwide.Vodafone also plans to become part of the Azure ecosystem making the IoT platform available to a vast developer and third-party community using open APIs.
  • Africa digital acceleration: Microsoft intends to help further scale M-Pesa, already the largest financial technology platform in Africa, by housing it on Azure and enabling the launch of new cloud-native applications. The companies are also launching a purpose-led program that seeks to enrich the lives of 100 million consumers and 1 million SMEs across the African continent.
  • Enterprise growth: Vodafone will extend its commitment to distributing Microsoft services, including Microsoft Azure, security solutions and modern work offerings such as Microsoft Teams Phone Mobile, as part of its strategy to become Europe’s leading platform for business.
  • Cloud transformation: Vodafone will accelerate its cloud transformation by modernising its data centres on Microsoft Azure.

Showmax 2.0 unveils standalone Premier League plan for mobile at just Ksh 500 a month

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MultiChoice, Comcast’s NBCUniversal and Sky have finally announced the new Showmax platform powered by Peacock streaming technology with Moment payment technology integration for seamless payments.

The new Showmax is the world’s first standalone Premier League plan for mobile, with all 380 games offered live on Showmax Premier League for just Ksh 500 a month.

“Africa is incredibly important to the Premier League and our clubs; 20% of TV audiences on any given matchday come from Africa,” says Richard Masters, Premier League CEO. “We are delighted with this Showmax initiative, which puts the Premier League in your pocket at a new price point so that millions more can enjoy our fantastic competition.”

Available as Showmax Entertainment on mobile for an unbelievable Ksh 300 a month and Showmax Entertainment plan with monthly price falls from Ksh 760 to Ksh 650 per month. The Showmax plans are available to customers in 44 African countries.

“There are currently just over 450 million smartphones in the hands of individuals across Africa … and more than 250 million avid football lovers on the continent,” says Marc Jury, CEO of Showmax. “Showmax Premier League is a game-changing product that gives individuals a ticket to the football they love, wherever they are, on the device they always have with them, at a price that’s impossible not to love.”

Showmax’s Peacock streaming platform will be active in more than 70 countries and is continually enhanced by the combined expertise of thousands of engineers. The platform will host among others Super Bowl LVI, the FIFA World Cup Qatar 2022 final, the Olympics and WrestleMania 39. On 13 January, Peacock’s exclusive AFC Wild Card Game became the biggest live-streamed event in US history, reaching 27.6 million viewers and a record 16.3 million concurrent devices. In 2023, Comcast won a Technology and Engineering Emmy Award for its sports viewing experiences across Peacock, Sky and Xfinity.

“The Peacock platform was designed from day one to support both live and on-demand content, including the biggest live sporting events, so we look forward to extending that capability and reliability to the new Showmax,” said Patrick Miceli, Executive Vice President & Chief Technology Officer, Direct- to-Consumer & International, NBCUniversal.

Alongside the Premier League, over 1 300 hours of Showmax Originals, there will also be popular content from Universal Pictures, Focus Features, NBC, Peacock, DreamWorks Animation and Telemundo plus the hit Fast franchise, Fast X, and Wes Anderson’s comedy-drama Asteroid City; procedural drama series such as NBC’s The Irrational starring Jesse L. Martin; and Peacock original comedy series Killing It, from the creative team behind Brooklyn Nine-Nine, starring Craig Robinson.

Data saving settings

Showmax will also continue to draw from the likes of Paramount, including Mission Impossible: Dead Reckoning and Halo S2 in February, and HBO, with new seasons of House of the Dragon, The Last of Us, True Detective, and The White Lotus on the way.

This payment ecosystem is facilitated by Moment, another MultiChoice joint venture partner. Working with more than 200 payment partners such as banks, mobile money providers, retailers and payment schemes, Moment is building the broadest pan-African payments network. In addition, DStv customers will continue to have the option of adding Showmax to their DStv bill each month and benefitting from significant discounts. Showmax will be announcing additional partnerships soon that will offer even more value to customers.

Pricing table

The new Showmax app will become available in app stores from 23 January 2024 onward, as part of a staggered migration process across 44 markets. This is an ongoing process that starts next week and will be completed in February this year. Existing Showmax customers will begin receiving communication with information on how to access the new app this week and by 12 February 2024 the new Showmax will be live in all markets.

10 Ventures Announced for the Africa Tech Summit Nairobi 2024 Investment Showcase

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Africa Tech Summit Nairobi has announced ten African tech ventures that will showcase their solutions to a diverse audience of industry experts, investors and fellow innovators on February 14th and 15th.

The ten were selected from over 250 entries received from various countries across Africa, including Kenya, Egypt, Tanzania, Nigeria, Ghana, South Sudan, Malawi, Angola, Morocco, Botswana, Benin, Congo, Uganda, South Africa, Sierra Leone and more. The ten selected ventures, spanning fintech, agritech, e-commerce, Web3, and climate-tech sectors, are looking to raise funding ranging from $500,000 to $15mn. They include:

Node Bio (Kenya)is utilizing cutting-edge plant science to develop crop treatment that effectively combat the adverse effects of climate change. Their innovative solution, Farmchef, enables plants to withstand drought, extreme heat, and other water-related stressors.

Valu (Egypt)is MENA’ s leading Buy Now Pay Later (BNPL) lifestyle-enabling fintech platform, offering customers and businesses convenient and comprehensive financial solutions.

Bingtellar (Nigeria)is building payment infrastructure for global citizens including freelancers, remote workers, contractors, businesses. Their ramp product simplifies the process of buying and selling crypto and facilitates swift money transfer across Africa.

Dukka (Nigeria)is digitizing payments and bookkeeping solutions to assist small businesses across Africa to accept all digital payment methods.

FutureLink Technologies (Uganda)is a digital marketplace that is simplifying financial access for individuals and facilitating payments for financial cooperatives.FutureLink Technologies is the first African company towin the Global SME Finance Platinum Award for Product Innovation of the year 2022.

Tausi App (Kenya)is a beauty tech company that is leveraging technology to link beauticians to potential customers. Tausi has registered over 6000 beauticians so far.

Feegor (Nigeria)is a B2B e-commerce company that is connecting Small and Medium Enterprises (SMEs) to manufacturers and major wholesalers.

Peercarbon (Kenya) is a climate fintech startup leveraging granular emissions data and cutting-edge sustainable finance technology to empower African SMEs. Peercarbon’s Software as a Service (SaaS) platform provides real-time insights, making it easy for businesses to track their carbon footprint.

Regxta (Nigeria) is making financial services accessible to underserved communities and micro-businesses in rural and peri-urban areas across Africa, including internally displaced persons and refugees.

URBANET (Kenya) promotes international dialogue on development activities worldwide, providing insights on municipal and local governance, sustainable urban development, and decentralization.

Henry Umunnakwe, Ecosystems & Sales Manager of Africa Tech Summit shared: “Amidst the challenging backdrop of decreased funding for African startups in 2023, the resilient spirit of entrepreneurship continues to thrive across the continent, and we are delighted to introduce these 10 pioneering ventures for this edition of the Investment Showcase. Our main objective of the Showcase is to spotlight and foster connections for these ventures with both local and global investors.We look forward to welcoming over 1000 delegates to the summit to catalyse collaborative efforts and propel investments to further fuel innovation and growth throughout the continent.”

Register for passes to Africa Tech Summit Nairobi, Feb 14th& 15thhere

How OCR Is Making Data Extraction Easy

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Optical Character Recognition, often abbreviated as OCR, serves as a method to read and convert written text. This includes any text that a computer can process, like things that are printed or written by hand.

OCR for images is part of recognizing images and is usually used for printed materials such as reports, bills, passports, and business cards. This technology turns the text in these documents into a form that computers can read and edit.

The purpose of this article is to describe the growth of OCR and its role in pulling out data from documents, along with real-life examples.

Understanding OCR 

OCR technology identifies text from documents that are printed or handwritten, picking out each letter and number. It changes images into text that machines can read and change. This tech is important for understanding letters and signs in an image – a quick task for people, but harder for computers.

OCR programs help the computer see these dots as text, making it easier to find and change information in scanned papers.

How OCR Operates 

There are three main parts to OCR:

  • Preparing the Image: In this step, the original image is improved to make the text clearer and easier for the OCR to read.
  • Recognizing Characters: Here, the OCR looks for specific parts of the data, only focusing on the most important bits to make the process more efficient.
  • Refining after OCR: This last step fixes errors, often using a list of known words to help the program recognize text accurately, even complex things like serial numbers.

Smart Data Extraction Using OCR 

The process of using OCR to get data includes these parts:

  • Recognizing Metadata: This is about using automatic systems to find and handle data details in documents. This step helps to plan how to get the right data out of the documents.
  • Getting Documents Ready: Before pulling out text, the OCR software makes the image of the document clearer and fixes any issues.
  • Classifying Documents: In this phase, the OCR sorts the document by its format and structure, which is key to how it will recognize the text.
  • Recognizing Characters: Now, the OCR analyzes the image to pick out and separate individual characters, turning them into text data.
  • Checking Data Accuracy: After converting characters to text, this phase involves making sure the data is correct, fixing any errors.
  • Machine Learning with Human Help: The final stage uses both advanced machine learning and human checks to make sure the data extraction is accurate.

These steps make OCR a powerful tool for turning various types of documents into digital data.

Examples of Data Extraction 

Data extraction through OCR is used in different ways:

  • Managing Databases: Data warehouses bring together information from many places, making it easier to share data.
  • Web Scraping: This method collects information from websites, like prices and product details.
  • Data Mining: This involves pulling important information out of large databases to help businesses make better decisions.

Easy and Safe Document Conversion 

OCR Online is a notable example of image to text converters. It lets users change scanned PDFs, images, and photos into text that can be edited, or turn PDFs into Word or Excel files while keeping the layout. This tool is free, works on mobiles and computers, and doesn’t need users to sign up. It also deletes all documents after converting them, protecting user privacy.

In summary, OCR has made data extraction much simpler, more effective, and accurate. It’s not just a tool, but a force that changes how businesses use their data, from managing documents to enabling data-driven strategies. The impact of OCR is widespread, making it an essential part of modern technology.

LG’s CES 2024 Showcase: webOS Zone stands out with premium content package for attendees

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The LG Electronics’s booth at the Consumer Electronics Show (CES 2024) in Las Vegas continues to be a star attraction as visitors remain captivated with the dazzling offerings in its webOS Zone. The webOS smart TV platform comes to life with immersive visuals, unparalleled picture quality, and enhanced sound engineering, creating an enticing experience for attendees.

Since its establishment in 2014, LG’s webOS platform has evolved into one of the most widely used smart TV platforms globally, continuously expanding its user base. With partnerships with over 3,500 content providers, LG ensures a compelling selection of content for LG Smart TVs worldwide. The company’s decade-long commitment to fostering strong relationships with streaming service partners has significantly enhanced the home entertainment experience for millions of customers.

At the heart of LG’s CES 2024 webOS Zone, guests are treated to a diverse array of video clips sourced from content partners. A standout feature is the exclusive preview of ‘Masters of the Air,’ an eagerly awaited series from Apple TV+ produced by Steven Spielberg, Tom Hanks, and Gary Goetzman. The series, known for its breathtaking visuals and dynamic soundscape, will premiere exclusively on Apple TV+ on January 26 and be accessible on LG Smart TVs via the Apple TV app.

The captivating storytelling continues with the live-action reimagining of ‘The Little Mermaid’ now streaming on Disney+, where filmmaker Rob Marshall brings to life the tale of a spirited young mermaid, creating a mesmerizing experience on OLED displays with the soothing sounds of the ocean.

The exploration of also space takes center stage with clips from the ‘Rebel Moon’ Netflix series and a sneak peek into the highly anticipated ‘Star Trek: Discovery’ from Paramount+, promising enthralling encounters with unexplored planets and intricate space battles.

For adventure enthusiasts, the webOS Zone presents scenes from Prime Video’s ‘The Lord of the Rings: The Rings of Power,’ inviting spectators to step into the epic landscape of Middle-earth and experience sweeping action, harrowing journeys, and the rise of the Dark Lord Sauron.

Gaming enthusiasts are not left out, as a clip of Tekken 8, set for release on January 26, 2024, by Bandai Namco Entertainment, delights with the promise of being a standout production in the genre.

The above are just some of the excitements that are available at LG’s booth, which fans in Kenya and around the world can engage with by visiting LG’s dedicated CES site (www.LG.com/CES2024) and the LG Global YouTube channel. The CES extravaganza started on January 9 and runs until Friday, January 12, 2024.

Egypt-based investment fund management company Ezdehar invests $10 million in Yodawy

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Egypt-based investment fund management company Ezdehar has acquired a minority stake in the Egyptian healthtech Yodawy for $10 million.

Founded in 2018 by Karim Khashaba, Yasser Abdel Gawad, and Sherief El-Feky, Yodawi offers a marketplace where patients can process prescriptions and place an online order for medicines. Yodawy also connects patients to medical labs and insurance companies.

Yodawy’s CEO, Karim Khashaba, said that his company aims to build a healthcare platform that addresses the main challenges in the sector and strengthens its position in the digital health field in Egypt. He added that the company works with insurance companies and healthcare service providers to improve patients’ access and experience

Yodawy serves about 35 health insurance and healthcare service companies, which have contracts with more than 800 companies, 20 hospitals, and 30 clinics in the market. The company also partners with 3,000 pharmacies that provide services for chronic and non-chronic conditions across Egypt. Since its establishment, the company has delivered more than 6 million prescriptions.

The investment will support Yodawy’s growth plans, which include expanding its customer base and technology-enabled prescription fulfilment capabilities and creating more value in the healthcare services market.

Amir El-Sharqy, General Manager of Ezdehar, said: “Yodawy has identified and seized an untapped opportunity in the prescription and delivery sector and has created a model that has proven effective in serving patients and healthcare providers in the market.”

Ezdehar’s investors include a group of international institutions, such as the European Bank for Reconstruction and Development, the European Investment Bank, the BAE Group, the Netherlands Development Bank, the International Finance Corporation, the Egyptian-American Enterprise Fund, and the Belgian Investment Company for Developing Countries, as well as a group of Egyptian investors from banks and other investment entities.

Moniepoint expands access for underbanked SMEs and individuals across Nigeria

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As the wider world continues to rapidly embrace digital payments, access to financial services has become critical for businesses and to thrive. But for the underbanked and underserved, especially in rural areas, this access remains a major hurdle. According to the latest research released by EFInA in its Access to Financial Services in Nigeria survey, approximately 40 million adult Nigerians remain formally excluded even though we have seen a leap in formal financial inclusion as it grew from 56% (2020) to 64% (2023).

With the shift from traditional to digital transactions gaining some fillip, Africa’s leading fintech, Moniepoint recognizes the challenges posed by this digital shift, particularly for the underbanked communities. According to Felix Ike, CTO and co-founder of Moniepoint, who emphasizes the company’s mission: “Our guiding principle is financial happiness for everybody. Even if you are underbanked and in a far flung and remote area, you should be getting access to the best financial products available.”

Moniepoint’s comprehensive financial services platform provides underbanked and underserved SMEs and individuals with a one-stop solution for payment processing, access to credit, and streamlined operations in powering their dreams. Its unique approach combines technology with a robust network of local merchants and offline engagement team across every nook and cranny of Africa’s political and economic powerhouse.

Having evolved from its roots as TeamApt, where it initially focused on automating back-end processes for banks, Moniepoint’s founders saw an opportunity to make a direct impact on people’s lives with the solutions they were creating. This in turn has heralded the global fintech’s emergence as a truly transformative force for good.

“With Google Cloud’s infrastructure solutions, we’ve been able to quickly and reliably scale our platform to reach millions of customers, process billions in transactions, and expand economic opportunities. This flexibility allows us to adapt and expand rapidly without compromising performance or security,” Ike said. 

The company’s growth is also creating sustainable employment opportunities, with thousands of direct hires across Nigeria and millions more jobs supported indirectly through the growth of Moniepoint’s business customers. As Moniepoint expands to serve individuals as well as SMEs with credit facilities, savings and other exciting products, it aims to empower even more underbanked communities by ensuring access to modern, digital financial services.

5 reasons why businesses should make social media analytics a priority in 2024

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By Veerakumar Natrajan, Country Head – Kenya, Zoho Corp.

Statistics show that Kenya leads East Africa when it comes to mobile connections and social media users, sitting at 63.94 million connections and 10.55 million users respectively. This alone requires every business to have a strong social media presence in order to tap a wider audience for their products and services. That said, being active on social media without measuring the impact is like painting a picture with your eyes closed. It won’t give you good results, and whatever minimal benefits you get out of it are purely by luck.

If you’re managing a social media account, it’s crucial to analyse and understand your followers. Below are five top reasons why you need to start analysing the data from your business’ social media campaigns and even consider adopting business intelligence platforms like Zoho Analytics, which offer direct integration with top social media platforms like Instagram, TikTok, X (formerly Twitter), Facebook, YouTube, and more.

1) It will help you understand your audience better. Understanding your audience will help you create content that resonates better with them. Knowing which age group and industry your audience belongs to will go a long way towards creating targeted content.

2) You can measure the impact of your ad campaigns. Are you measuring the reach and impact of your social media ad campaigns? Are your ads leading people to your landing pages? Are you getting sufficient conversions from these campaigns? Which ads are performing well? These are some of the questions you might want to ask once you launch a new ad campaign on Instagram, TikTok, X, Facebook, or YouTube.

3) It will assist you in identifying content that works. Creating the right content keeps your audience engaged and increases your brand awareness. This will help you plan and create tailor-made content that will strike the right chord with your followers. This will also significantly reduce the time you might otherwise spend on guesswork and iterations.

4) It is a way to analyse your competitors’ strategies. While you plan, execute, and experiment with your social media strategy, you can also learn a lot from your competitors. You can instantly track key metrics on post frequency, engagement, and even the keywords used—among many other options. Using this knowledge, you can make necessary changes and evolve your social strategy to increase your reach and outperform your competition.

5) Finally, it will provide a boost to your ROI. At the end of the day, it all comes down to having a good return on investment from all your marketing efforts and money spent. This return could be things like increased conversions or sales, better brand awareness, a reduced load on technical support teams, or boosted website traffic and customer engagement.

Software Giant SAP Settles Bribery Charges with $98 Million Penalty and Promises Improved Compliance

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Software giant SAP has agreed to pay nearly $100 million to resolve bribery accusations in the US and South Africa, marking the end of a scandal that spanned multiple countries and several years.

According to reports, the US Securities and Exchange Commission (SEC) found that the Germany-based firm paid bribes to government officials through third parties to secure contracts in South Africa, Malawi, Kenya, Tanzania, Ghana, Indonesia, and Azerbaijan between 2014 and 2022.

These bribes were disguised as legitimate business expenses, exposing weaknesses in SAP’s internal controls and oversight of subsidiaries.

The penalty includes $85 million in disgorgement and $13.4 million in prejudgment interest, but will be partially offset by SAP’s previous $59 million settlement with South Africa.

The SEC’s order also requires the company to implement stricter anti-bribery and corruption measures.

SAP has admitted its wrongdoing and emphasized its cooperation with authorities. The company claims that those responsible for the bribery left years ago and that its current internal controls and compliance programs are robust. However, the SEC order suggests that further improvements are needed.

This settlement serves as a reminder to companies of the importance of ethical business practices and strong anti-corruption.

TPAY partners with Tencent to launch Direct Carrier Billing for PUBG MOBILE in Egypt

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 TPAY MOBILE, Middle East, Turkey, and Africa digital micropayments facilitator has partnered with Tencent to launch a Direct Carrier Billing for PUBG MOBILE in Egypt.

The launch will enable gamers in Egypt to easily purchase PUBG MOBILE UC (unknown cash) through the official PUBG shop ‘Midasbuy’ and the UC they purchased is promptly added to their PUBG account.

Işık Uman, TPAY Group CEO, comments: “The Middle East gaming market is expected to grow at a CAGR of 11% from 2023 to 2028, yet companies outside of this region have underestimated its potential – until now. Expanding our partnership with one of the largest games publishers Tencent will allow the company to reach a much larger audience and further grow their business in this region. This partnership will further reinforce TPAY as being THE CONNECTOR, bringing the unconnected into the digital world.”

TPAY also enabled DCB payment for other Tencent games in UAE, Oman & Qatar. The new games include Synced, Undawn, and Whiteout Survival, where gamers can also buy games’ items via Midasbuy like frost stars and RC without using a credit card by quickly adding the amount to their mobile bill or having it deducted from their credit balance.

Tencent first partnered with TPAY Turkey (Payguru) in May 2019 to avail in-game purchases for PUBG through DCB across all of Turkey’s 3 operators Later, bank transfers payment was added as another payment method in Turkey, covering 8 banks. Following this successful partnership, an expansion to offer DCB in MEA, via TPAY’s network connections took place covering PUBG Mobile and other new games. This partnership will cover expanding more launches across MEA via TPAY’s DCB & DWB network.

Today, MENA is one of the fastest growing regions in Gaming in the world, with over 377 million estimated gamers with a projection to reach $5 billion in 2025. This, coupled with the fact that people under the age of 25 make up close to half the population, has resulted in the gaming market seeing significant growth over the past years. Thus, this surge is attracting more international players, both publishers and development companies – into the region – creating an opportunity that we hope to capitalize on.

The META region represents a major untapped opportunity for gaming companies around the world. Together with TPAY’s simple but transformative technology and end-to-end solution, all game developers can connect to potential of millions of gamers and offer them the most secure, accessible, and seamless payment methods in the region.