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Egypt’s Raya FutureTECH graduates 13 startups from its first accelerator programme

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Raya FutureTECH, the innovation arm of Raya Holding has announced the conclusion of its first accelerator program with an inspiring Demo Day at the Edge Innovation Center.

 The event showcased the incredible progress of thirteen tech startups, highlighting their innovative solutions across various sectors including agriculture, transportation, real estate, and financial services.

Nanis Elessaily, Director of Strategy and Partnerships at Raya Holding, expressed her enthusiasm, saying, “Banking on Raya’s 25 years of experience in various sectors, we are eager to support them grow as we believe startups have become an integral part of the economy”

According to Clara Samman, Senior Program Officer at Raya FutureTECH, “Through one-on-one consultations with experts from Raya, workshops and connections to our network we’ve equipped them with the tools for success. At Raya FutureTECH we highly value the importance of partnership creation and networking opportunities and I was happy to witness throughout this journey that not only did the startups get to discuss potential partnerships with different business lines from Raya but together.”

The Demo Day that was held in Cairo witnessed the graduation of the first cohort of 13 startups which will receive additional support and funding to further develop their solutions.

The startups include:

Arzaq Masr: A company that is specialized in the agricultural technology, our goal is to digitalize the poultry section in Egypt through a smart mobile application to full – fill the needs of the breeders’ tech & financial needs and provide trusted, stable and traceable sources for production inputs .

Cultivaet: Cultivaet is the smallholder farmers development platform that digitises knowledge and information accessibility to enable our food growers simple and intuitive tools that push them towards achieving sustainable and profitable agricultural practices.

Accounting Club: A B2B marketplace specialized in accounting and finance services and any logistics services for the finance departments in companies like archiving services, ERP systems and training and workshops.

 Meta Egypt:A company that offers immersive 3D property experiences, eliminating physical limitations and making property viewing accessible to all.

BUS14: A transportation app designed to provide safe, affordable, and convenient transportation for school students in Egypt.

Credify: An AI-powered consumer insights and embedded finance platform that helps digital lenders sell more loans and financial products with less credit risk using alternative data and digital footprint.

Jadeed:A startup company that provides alternative green energy solutions that reduce fuel consumption and carbon dioxide emissions. Through its innovative design, the Green Turbo (hydrogen cell) converts water into hydrogen gas.

 Wfrley: A dynamic super app and SaaS solution crafted to transform the retail landscape in underserved regions outside of Cairo, streamlining the delivery process from a wide network of local supermarkets, pharmacies, and shops.

PlanQ:A company dedicated to the research, development, production, and sales of cutting-edge digital and electronic communication products. Their innovative solutions are transforming the way people connect and communicate, offering high-quality, reliable technology for both personal and professional use.

Tatbeek:An Egyptian ICT company using latest technologies to maximize manufacturers’ efficiency and minimize their production waste in Egypt and worldwide.

The Holiday Homes Service Co.: A company that delivers top-notch property management services specifically designed for the holiday home sector.

H.E Rental:An online multi-vendor one stop shop that connects heavy equipment owners with companies that want to rent this equipment.

WhereApp: A cutting-edge transportation app that connects you with reliable and professional drivers, ensuring your journey is seamless, convenient, and stress-free.

YouTube Releases Updated Eraser Tool to Empower Creators

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YouTube recently announced the launch of its improved Eraser Song tool, designed to give creators more control over their content.

This innovative feature allows creators to easily remove copyrighted music from their videos, without sacrificing the integrity of other audio elements like dialogue or sound effects.

“We’re thrilled to provide creators with this powerful tool,” said YouTube CEO Neal Mohan. “The updated Erase Song tool empowers creators to address copyright claims while preserving the creative vision of their videos.”

Previously in beta testing, the Eraser Song tool has undergone significant advancements. YouTube has implemented a powerful AI-powered algorithm to precisely identify and remove copyrighted music, ensuring minimal disruption to the audio quality of the remaining content.

While the Eraser Song tool boasts exceptional accuracy, YouTube acknowledges there may be instances where complete removal proves difficult. The platform offers creators additional options, such as muting specific sections of the video containing copyrighted material.

Upon successful editing using the Eraser Song tool, creators can expect the removal of the content ID claim associated with their video. This claim, employed by YouTube to identify copyrighted material, can restrict viewership and monetization.

With the launch of the Eraser Song tool, YouTube says it continues its dedication to empowering creators and fostering a thriving creative community.

Nigeria’s Bamboo Expands to South Africa to revolutionize it’s investment landscape

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Bamboo, a  Nigerian investment platform that gives Africans the tools to build wealth from the ground up through real-time access to the global markets has expanded its operations to South Africa.

The move will enable South African customers to invest in fractional shares of over 3,000 US stocks and exchange-traded funds (ETFs), featuring major companies such as Apple, Amazon, and Tesla.

Richmond Bassey, CEO and co-founder of Bamboo said, “We are thrilled to bring Bamboo to South Africa and provide individuals with access to the US stock market. Our goal is to empower Africans to build wealth and achieve their financial goals through diversified investment opportunities.”

The expansion comes after Bamboo was granted  a financial services provider licence by the South African Financial Sector Conduct Authority (FSCA).

The company aims to use its technology and expertise to provide South African investors a seamless and secure investment experience.

This expansion is expected to accelerate the growth of the African fintech sector and contribute to the continent’s economic development.

As more Africans seek to diversify their investments and engage with global markets, Bamboo’s entry into South Africa represents a crucial step towards making international investing more accessible and affordable.

This development adds South Africa to Bamboo’s operational portfolio in Ghana and Nigeria

JICA expands  its NINJA Accelerator to South Africa

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The Japan International Cooperation Agency (JICA) has expanded  its NINJA Accelerator to South Africa in partnership with, pan-African tech Accelerator Startupbootcamp AfriTech, and NEC Corporation’s majority-owned African entity NEC XON.

The NINJA Accelerator is a collaborative effort powered by JICA and led by Double Feather Partners, Deloitte Tohmatsu, and supported by local partners and global experts to foster innovation and economic growth in the region.

”The hope is to increase startups’ chances to find new strategic partners, investors, or enterprise client in NEC, and also to help reveal potential exit paths in case of perfect strategic fit. All these outcomes could also be of great value to venture capitalists (VCs) if the selected startup turns out to be a portfolio company” says Kohei Muto, CEO of Double Feather Partners, the Japan-based Africa-focused VC and consulting firm leading the project on behalf of JICA.

This accelerator is a departure from traditional growth accelerators. In addition to its usual hands-on support to tackle startups’ most pressing issues, offering networking opportunities, and a one-week roadshow in Japan, this edition will mainly focus on helping startups achieve growth by validating strategic fit and commercial partnership potential with Japanese corporations. NEC XON was selected among several corporate proposals following a public call for applications issued by JICA through it’s South Africa Office and partner networks.

With Project NINJA, JICA reaffirms its belief that startups are key to addressing Africa’s most pressing socio-economic and environmental issues, and successful collaboration with sustainability-motivated Japanese companies such as NEC would be a win-win.

”Through this program, we aim to foster meaningful partnerships that drive both innovation and sustainable growth across Africa, creating lasting impacts for all involved”, says Yosuke Koide, General Manager : Global Synergy Development at NEC XON.

The JICA NINJA Accelerator in South Africa – Open Innovation Edition invites promising startups to test commercial partnership potential with NEC XON.JICA’s overall aim is to study collaboration models between local startups and Japanese companies, and contribute to local startup ecosystem development through private sector innovation.

Startups selected for the NINJA Accelerator will benefit from a comprehensive and tailored support program, including: an opportunity to co-design and run a three-month PoC with NEC XON to validate commercial partnership potential.

Interested startups are invited to apply through the official NINJA Accelerator website: www.jica.ninja.

Deadline: July 28th, 2024.

Tanzania’s remittance startup Nala raises $40M Series A to fuel its global growth

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Nala, a Tanzanian remittance service serving the African diaspora, has raised $40 million Series A equity round to serve the Asian and Latin America markets by expanding NALA’s consumer business beyond Africa and build Rafiki, its B2B payments platform designed to lay the payment rails for the next billion users.

The round, which follows a $10 million seed round in 2022, was led by San Francisco-based VC firm Acrew Capital, with participation from DST Global, Norrsken22, HOF Capital, and existing investors including Amplo and NYCA Partners with angel investors Ryan King of Chime and Vlad Tenev of Robinhood.

According to Nala founder and CEO Benjamin Fernandes , “This funding is a testament to the hard work of our team and the trust our investors have in our vision. It marks a new chapter in our journey to revolutionize payments for the next billion. While raising $40 million is a remarkable achievement, it is just one milestone in our long-term vision. We’ve made great progress, but the work is far from done. Our ambitions are bold — we aim to 100x this business, and the path to achieving that is paved with hard work, innovation, and relentless dedication.”

Launched by Benjamin Fernandes in 2017, NALA powers quick remittances from the UK, US and the EU to send money to their loved ones across 249 banks and 26 mobile money services in 11 African markets through its consumer fintech app .For markets like Kenya, they have integrated with mobile money service M-Pesa enabling users living in the diaspora to pay local bills directly. However, building the service on the payment rails of other providers meant that the fintech could not guarantee dependability.

In 2023, NALA injected $6m into the African ecosystem and hosted its first Demo Day live event in its Kenyan office. It also acquired Payment Service Provider licenses in several countries, including Tanzania and Rwanda. It also directly integrated with banks and telcos to enhance NALA by building more elements of the value chain internally.

After Nala started getting requests from businesses who wanted to ‘use NALA’s rails’ for payments, Nala began working on Rafiki to help them build on top of its infrastructure to bridge the gap and enable seamless payments for companies around the world directly into African mobile money and bank accounts.

The company has now developed its own platform that directly integrates with banks and mobile money providers. Dubbed  Rafiki, the B2B payment platform is intended to stem payout incidences, minimize user charges and ensure reliability.

“We built the Rafiki infrastructure, not by choice, but by the nature of the market. When we started, we were experiencing 15% failure rates from partners as we started to scale, and this affected our cost of operations massively. The only way to solve this problem was at the source, to get licenses and build payment and treasury infrastructure reliably,” said Fernandes.

Nala and Rafiki operate independently and have signed a few large contracts with global payments and remittance companies. The platform which is currently accessible to a select few, powers Nala’s consumer fintech app, the cross-border payments platform also targets global businesses making payments into and out of Africa. The global remittance and payroll companies integrating with Rafiki will allow direct deposits into their recipients’ mobile money wallets or bank accounts.

“Africa is currently home to 1.3 billion individuals, and according to the New York Times, by 2050, this number is expected to double to over 2.5 billion, making it the world’s largest population and workforce. This immense potential inspired us to take on the challenge of building a reliable and efficient payment system for this rapidly growing continent,” he said. “The next billion doesn’t just include Africa but a majority of the worlds emerging markets NALA is looking to serve.”

With over 500,000 customers, Nala’s mission is to build payments for the next billion. Nala also plans to venture into payments processing for businesses as part of its quest to solve a reliability “problem at scale for global businesses that want to trade with Africa.”

Revolutionizing Client Communication with Digital Annotation Tools

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Effective client communication is the backbone of successful project delivery. Misunderstandings and miscommunications can lead to delays, increased costs, and unsatisfied clients. In a fast-paced digital world, where feedback needs to be clear and actionable, digital annotation tools have emerged as game-changers. By allowing precise and contextual feedback, these tools significantly enhance client communication, making project management smoother and more efficient.

The Challenge of Client Communication

In any project, especially those involving web development, design, or software development, clear communication between clients and teams is crucial. Traditional methods such as emails, phone calls, or even face-to-face meetings often fall short in conveying detailed feedback. Clients may struggle to describe what they want, and team members might misinterpret vague instructions. This gap can result in rework, frustration, and wasted resources.

How Annotation Tools Transform Communication

An annotation tool enables users to provide feedback directly on digital assets, such as web pages, images, or documents. By pinpointing exact elements and adding comments, clients can communicate their thoughts clearly and efficiently. Here’s how annotation tools revolutionize client communication:

1. Contextual Feedback

Instead of sending lengthy emails describing where changes are needed, clients can use annotation tools to click on the exact spot and leave a comment. This contextual feedback eliminates ambiguity. For instance, a client who wants a specific image resized or a text color changed can highlight that exact element and explain their request. This precision ensures that the team understands the feedback and can act on it accurately.

2. Real-Time Collaboration

Annotation tools often support real-time collaboration, allowing clients and team members to interact and discuss changes as they happen. This immediate communication speeds up the feedback loop and reduces the time spent on revisions. Clients can see the adjustments in real-time and provide instant feedback, making the process more dynamic and efficient.

3. Improved Documentation

All feedback provided through annotation tools is documented and stored in a centralized location. This comprehensive record of client communications ensures that nothing is lost or forgotten. Teams can refer back to previous comments to understand the project’s evolution and ensure that all client requirements are met.

Benefits of Using Annotation Tools for Client Communication

Enhanced Clarity

The visual nature of annotation tools provides clarity that traditional methods lack. Clients can precisely indicate what they like or dislike, reducing the risk of misinterpretation. This clarity leads to a more accurate execution of the client’s vision.

Increased Efficiency

By streamlining the feedback process, annotation tools save time for both clients and teams. The reduced need for back-and-forth emails and meetings allows projects to progress more swiftly. Teams can focus on implementing changes rather than deciphering feedback.

Stronger Client Relationships

Effective communication fosters trust and satisfaction. When clients see that their feedback is understood and implemented quickly, they feel more involved and valued. This positive experience strengthens the client relationship and can lead to repeat business and referrals.

Real-World Applications of Annotation Tools

Web Design Projects

In web design, visual elements are crucial. Clients often have specific preferences for layout, color schemes, and imagery. Annotation tools allow them to provide detailed feedback directly on the web designs. For example, a client can highlight a section of the homepage and suggest a different font style or color. The design team can then make these adjustments quickly, ensuring that the final product aligns with the client’s vision.

Software Development

Software development projects often involve complex interfaces and functionality. Clients may not always have the technical vocabulary to describe their needs. Annotation tools bridge this gap by allowing clients to interact with the software interface and leave comments on specific features or bugs. This method is especially useful during user acceptance testing (UAT), where clients can provide actionable feedback to developers.

Marketing Materials

Creating marketing materials such as brochures, advertisements, or social media content requires precise client input. Annotation tools enable clients to review drafts and provide feedback on elements like text, images, and layout. This visual feedback ensures that the marketing materials meet the client’s branding and messaging requirements.

Best Practices for Using Annotation Tools

To maximize the benefits of annotation tools in client communication, consider the following best practices:

  1. Educate Clients on Using the Tool: Provide a brief tutorial or guide to help clients understand how to use the annotation tool effectively. This ensures they can give clear and precise feedback.
  2. Encourage Detailed Comments: Ask clients to provide detailed comments that explain their feedback. The more specific the comments, the easier it will be for the team to implement the changes correctly.
  3. Regularly Review Feedback: Ensure that the team reviews client feedback regularly and addresses it promptly. This keeps the project moving forward and maintains client satisfaction.
  4. Centralize Feedback: Use the annotation tool as the primary platform for collecting and managing client feedback. This centralization helps keep the communication organized and easily accessible.

Conclusion

Annotation tools are revolutionizing client communication by providing a platform for clear, contextual, and efficient feedback. These tools enhance collaboration, improve project accuracy, and strengthen client relationships. For any team looking to improve their communication with clients and streamline their project management process, integrating annotation tools is a smart and effective strategy. By leveraging the power of these tools, teams can deliver higher-quality projects that truly meet client expectations.

TiE Women MENA Programme launches application for its 5th edition

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TiE Dubai is launching the 5th edition of the TiE Women MENA Programme which aims to embrace, engage and empower women entrepreneurs across the MENA region– irrespective of the size of the enterprises, origin, standing or background.

The competition offers a platform to gain visibility, network with industry leaders & investors, and access 1:1 mentorship.

As part of the programme,selected entrepreneurs will get to pitch in front of investors and experts and showcase their solutions during NorthStar, GITEX in the UAE, and the MENA winner will have the opportunity to pitch at the TiE Global Summit in Bangalore, India for a cash prize of up to $50,000.

Eligibility Criteria

Female-founded or co-founded startups only. The opportunity to pitch will only be provided to the female founder/co-founder.

Female co-founder(s) with a minimum 33% equity in the company.

Companies in business for less than seven years only at the time of application (Company registration after Jan 1, 2017)

Preference to startups raising funds

Idea Stage Startups do not qualify for screening

Application Deadline: June 30, 2024

Fabricio Bloisi starts work as CEO, Prosus and Naspers to bolster its ecommerce business

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Fabricio Bloisi assumed work as Chief Executive Officer (CEO), Prosus and Naspers Group on 1 July 2024 after a unanimous approval by the Boards of Prosus and Naspers, in a move expected to bolster its ecommerce trading.

Before his appointment he was he CEO of iFood which he acquired in 2013 when it was a 20-person start-up and grown it rapidly and profitably to become Brazil’s leading food delivery company.

According to Koos Bekker, Prosus and Naspers chair, “Backing exceptional entrepreneurs who improve people’s everyday lives through technology has brought us some success over the years. Fabricio is an entrepreneur with a proven track record. His appointment as CEO places innovation and entrepreneurship at the heart of the Group.

Fabrício Bloisi is the founder of Movile and the CEO of iFood, the leading food delivery company in Latin America. iFood has over 5,000 employees, 350,000 partner restaurants, works with over 300,000 delivery partner couriers, and serves over 96 million orders per month. iFood directly and indirectly moved U$20 billion in gross production value, impacting 0.53% of Brazil’s GDP in 2022.

Fabricio holds a degree in Computer Science from the State University of Campinas (UNICAMP) and a MBA from Getulio Vargas Foundation (FGV/EAESP). He took over from Ervin Tu who was the interim CEO for last eight months. Ervin will continue to play a critical role in shaping the Group’s future in a new position, President and Chief Investment Officer (CIO).

The Group is moving to consolidate its ecommerce trading profits. This year Naspers saw ecommerce profitability, an 18% revenue growth and US$836m free cash flow improvement. The Group saw an accelerated peer-leading topline growth of 18%, with ecommerce consolidated revenue of US$6.3bn with ecommerce profitability ahead of target, with a US$460m improvement in trading profit to US$24m. The Group’s free cash flow increased US$836m to US$477m, a 2x improvement year-on-year. The Group also had US$32bn of value created by the ongoing buyback programme, delivering 9% Net Asset Value per share accretion.

Equity Bank Enables Free Money Transfer For Equity Customers

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Saving money in whichever way possible has become more important. Every penny counts, and finding ways to reduce unnecessary expenses and costs can significantly impact your financial health. Whether it’s cutting down on daily costs, finding better
deals, or taking advantage of financial services that offer more value. Every effort towards saving or stretching your income can help you navigate these challenging economic times more effectively.

An average Kenyan youth makes about Kes. 50,000 there about every month. They spend an average of Kes. 18,000 in rent for their one-bedroom apartment in Ruaka. Their monthly shopping and utilities costs Kes. 5,000 and Kes. 2,000 respectively. They also have set aside
Kes. 10,000 for transport and have a black tax budget of about Kes. 5,000 monthly. Additionally, they use Kes. 5,000 for sherehe and save the remaining Kes. 5,000 for a rainy day. Not a decent amount that can get you out of a jam if you ask me.

With all that in mind, how can someone save more? There are a few tips and tricks to ensure that you stretch every coin, most people have hacked this by looking out for offers. For instance, many brands or stores have mid-year sales and black Friday sales that aim to save their
customers a few shillings, look out for these when doing your shopping.

Another hack would be using money in the same ecosystem to save money on transaction charges. For instance, if you bank with Equity, you can benefit a lot from their zero transaction costs for Equity-to-Equity transfers and payments. It may look negligeable, but we do spend a lot of money on transaction costs whenever we move money from our bank accounts to mobile wallets to make payments or send money to our loved ones.

Whether transferring money from your Equity bank account to another Equity Bank account, through Equitel line, Equity Mobile App or USSD (*247#) to a friend, family member or your local mama mboga, its absolutely FREE!. So next time you want to send your parent or siblings cash, how about you ask them if they have an Equity bank account? You will save on transaction costs there. When paying for your
groceries, ask the mama mboga if they have an Equity account.

Just doing some quick math on my financial transaction costs, I realized I spend about Kes 800 every month. In a year, that would be Kes. 9,600. What does this translate to in the current economic status? This would be enough for a return ticket via SGR to Mombasa for your
December holiday. Could be a whole goat for your Christmas sherehe with the family or almost two months’ worth of your grocery shopping – imagine cruising through Njaanuary courtesy of your savings on transaction costs! Money doesn’t come easy, so whenever you find a way to save an extra coin, run with it!

Norfund injects $20 million into Apis Growth Markets Fund III for fintech startups across Africa

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Norfund has injected $20 million into a new Apis fund dubbed the Apis Growth Markets Fund III to invest in high-growth, tech-enabled financial services companies globally.

Apis Growth Markets Fund III will focus on pivotal trends such as Cashless Payments, Embedded Finance, and Financial Inclusion, all of which enhance livelihoods in Africa and South/Southeast Asia just like Apis’ previous two Growth Markets Funds, which collectively raised commitments of around $850 million.

“We are impressed by Apis’ professionalism and expertise in guiding the growth of promising mature FinTechs through its active and invaluable mentorship. Apis and Norfund share a strong commitment to improving financial inclusion in emerging markets. This partnership enables Norfund to develop our internal fintech expertise and offers opportunities for direct investments through co-investing with the fund.”Espen Froyn , Senior Vice President for FI Africa in Norfund

Recognizing the crucial role of Financial Technology (“FinTech”) in improving financial inclusion and reaching economically disadvantaged individuals and small businesses, Norfund broadened its investment focus in 2022 to include FinTech companies alongside banks, microfinance and other financial institutions. Norfund now actively supports financial inclusion-oriented FinTechs engaging in digital lending, neobanking, embedded finance, insurtech, and payment solutions across sub-Saharan Africa and Southeast Asia.

Norfund typically provides direct investments in high-quality FinTech companies, offering between $5-20 million in loans and equity to firms in their early growth stages, generally from Series A onwards. Since establishing the FinTech Investment Strategy, Norfund has invested in Wave Money, Lula Lend, Amartha, Funding Societies, and AwanTunai. Besides direct investment, Norfund also works with FinTech funds such as Quona Capital and Integra Partners, to extend its reach to promising early-phase FinTech companies.

Collaborating with Apis to augment Norfund’s FinTech investment strategy

Norfund’s investment in Apis Growth Markets Fund III represents a strategic decision to further diversify its portfolio into a broader set of mature and high-growth FinTechs that support individuals, entrepreneurs and established businesses with affordable and accessible financial services in emerging markets. Norfund’s commitment will help Apis reach its target fund size, especially at a time when fundraising has been challenging globally and particularly for emerging markets managers. The partnership will also provide Norfund with valuable insights from a leading industry investor.

“Apis’ expertise in payment solutions and embedded finance is profound. Seamless and cashless digital payments can significantly boost productivity and enhance digital inclusion, an area where Apis truly excels. In addition, we recognize the vital role of embedded finance in helping entrepreneurs and small businesses access the productive assets they need to thrive. We look forward to seeing Apis bring essential capital to these crucial segments,”says Investment Manager Kathy Chang (middle).

Microsoft ADC completes second cohort of upskilling for university lecturers

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Several faculty members from Kenyan universities graduated from the second cohort of the Microsoft Africa Development Centre’s (ADC) intensive upskilling programme, which launched in partnership with Microsoft Leap. With a 100% completion rate, the program exposed the lecturers to rigorous training that included cutting-edge technological advancements to improve their understanding of technical issues and bridge the gap between the classroom and the industry.

Speaking at the graduation ceremony about the growing importance of artificial intelligence in modern academia, Irene Githinji, Education Engagements Lead at Microsoft ADC said: “We are delighted that all 24 lecturers who began the programme have graduated because it
aims to improve faculty skills in teaching and research, as the world seeks to do more with the power of artificial intelligence. The programme’s impact can be felt in lecturers’ classrooms, universities, and beyond by fostering collaboration and innovation. Our overall educational goal is to create a strong pipeline of capable individuals who will help to advance Africa’s technology
landscape.

BCS

There is no better way to accomplish this than to improve lecturers’ understanding of how the industry operates and what skills are required,” Ms. Githinji stated. The 12-week programme included a curriculum developed and taught in collaboration with Microsoft Leap instructors, and brought together faculty from institutions across the country, including Zetech University, Kabarak, Multimedia University, Jomo Kenyatta, St Pauls University, Jomo Kenyatta University, Strathmore University, USIU, Dedan Kimathi University of
Technology, and Meru University.

Speaking about the initiative, Yolanda Natal-Santos, Director of Microsoft Leap, said, “Through our continued collaboration with the ADC, we’ve successfully delivered in-depth learning experiences for local faculty to help them thrive in our increasingly digital world. This program’s impact is two-fold: advancing individual careers while also strengthening educational institutions, ensuring they remain at the forefront of innovation.” This second cohort introduced a new skillset for this group , teaching with AI, which reflects the growing role of generative technology in everyday life, including the classroom.

The program also focused on software engineering fundamentals and 21st-century learning design through a project-based learning
approach that allowed participating faculty to earn Microsoft certifications. Throughout the program, participating faculty members were assigned projects that combined AI, software engineering principles, and modern learning designs, allowing them to understand
better how a developer team operates in practice.

This culminated in a project competition where the faculty was required to develop a solution that required an understanding of software development principles, artificial intelligence, and the considerations made by software engineers. “We are also celebrating the projects the lecturers have come up with to show their grasp of the concepts. The competition, which was judged by Microsoft engineers, was won by a team comprising instructors from Dedan Kimathi University of Technology, Jomo Kenyatta University of Agriculture and Technology, and Zetech University,” said Ms. Githinji.

On his part, Peter Muturi, a programming lecturer at Multimedia University and graduate of the faculty upskilling programme, called for adopting technology in teaching and learning regardless of the study area.

“Through the programme, we have learned what the industry is looking for. It has allowed us to see that we might not have been preparing students adequately for the current market needs. It has shown us that we need to work with AI to enhance our productivity as lecturers and that of our students, rather than look at it as competition. Through the training, we’ve seen 21st-century learning design that can incorporate technology to teach within the technology industry and beyond,” said Mr Muturi.

The faculty skilling programme is part of Microsoft ADC’s larger mission to improve the tech talent pipeline, which includes initiatives such as campus tours, the Game of Learners competition for university students, and curriculum reviews for technology-related courses in universities. ADC recently launched a cybersecurity skills enhancement initiative in collaboration with Cyber Shujaa to train students on cybersecurity fundamentals.

India’s CoinDCX acquires BitOasis in MENA expansion bid

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India-based crypto exchange company CoinDCX has acquired the UAE-based virtual assets trading platform BitOasis, for an undisclosed value. The acquisition comes after CoinDCX made a strategic investment in BitOasis in August 2023.

Founded in 2016 by Ola Doudin, Tarek Kaylani and Daniel Robenek, BitOasis is the go-to platform for retail, institutional and high-net-worth individuals across the GCC and the broader MENA region to buy, sell and hold over 60 tokens with fiat currencies such as AED, SAR, and USD. Since its inception, the company has processed over $6 billion in trading volume and raised more than $40 million dollars in funding from leading regional and global investors.

Ola Doudin, Co-Founder & CEO of BitOasis, said, “CoinDCX’s acquisition marks an exciting new chapter for BitOasis, one that propels us forward on a much stronger ground. Since the start of BitOasis, trust and regulatory compliance have been a key pillar in our mission to drive crypto adoption across MENA. This is a common pillar we share with CoinDCX along with our unwavering commitment to customer-centricity that has been equally vital for sustainable success. We take pride in our recent regulatory milestones, being amongst the first companies to register and become a reporting entity to FIU, the reinstatement of our MVP Operational license under VARA, and securing a license from the Central Bank of Bahrain, reinforcing our regional presence.”

The two market leaders joining forces marks a first-of-its-kind, transformative deal in the MENA region. Combined with the company’s newly acquired licence in the Kingdom of Bahrain and the recent reopening of its platform in Dubai, the acquisition will further empower BitOasis to strengthen and expand its presence across the MENA region as a leading player in the virtual assets ecosystem, licensed and regulated in multiple markets.

Established in 2018, CoinDCX  is a crypto exchange in India that provides 15 million users easy access to Web3 experiences and democratizes investments in virtual digital assets.It provides access to over 500+ crypto assets and facilitating average quarterly trading volumes exceeding $840 million in spot in 2024.

CoinDCX has been instrumental in driving crypto adoption across India. Through its intuitive and user-friendly interface, CoinDCX has simplified the investing experience, making it accessible to users of all levels of expertise. It is the first virtual assets exchange in India to register with the FIU IND, upholding transparency through stringent KYC norms.

Sumit Gupta, Co-Founder of CoinDCX, said, “Building on six years of success and supporting more than 15 million Indians in their crypto journey, CoinDCX aims to become the go-to trading platform for crypto worldwide. For us, investor protection has been paramount, and we have distinguished ourselves in India with unwavering compliance. We are committed to upholding the same standards wherever we operate. This principle will continue to guide our actions as we navigate new markets and opportunities. Our expansion strategy begins with the MENA region, capitalizing on its mature market and the population’s keen interest in crypto investment.”

Explaining why BitOasis’ acquisition aligns perfectly with CoinDCX’s principle, Sumit further adds “BitOasis was the first platform to register with the UAE Financial Intelligence Unit in 2021 and the company has maintained strong, constructive, and proactive relationships with regulators across the region since its launch.BitOasis’ licences in Bahrain and the UAE reflect its longstanding and uncompromising commitment to operating within established regulatory frameworks. Joining forces with BitOasis, a platform available in 15 countries across the region, aligns perfectly with our vision. Last year, we strategically invested in BitOasis to bolster its regional presence.

With this acquisition, CoinDCX is poised to establish an even more formidable foothold across the MENA region, catering to a diverse range of retail and institutional clients.

As part of the deal, BitOasis’ brand and leadership team will remain unchanged following the acquisition, fostering seamless synergy and collaboration between both organizations.

Samsung unveils Neo QLED 8K, 4K and OLED TVs in Kenya

Samsung has unveiled the Neo QLED 8K and 4K, OLED TVs, and sound devices to the Kenyan market.

The 2024lineup  which is currently  available on pre-order at participating retailers ,elevates the home entertainment experience with a range of powerful, AI-driven solutions.

Rahul Kochhar, Business Head of the Consumer Electronics Division at Samsung Electronics East Africa, said, “We are pushing the boundaries of home entertainment by integrating AI to enhance traditional viewing experiences. This year’s TV lineup demonstrates our commitment to innovation, offering products that provide premium viewing quality while significantly enhancing our consumers’ lifestyles.”

 Neo QLED 8K features

Neo QLED 8K is equipped with the advanced NQ8 AI Gen2 processor, marking a significant leap in AI TV technology. This processor features a Neural Processing Unit (NPU) and an eightfold increase in neural networks from 64 to 256, ensuring an exceptional viewing experience with crisp details, regardless of the input source.

Its AI-driven picture technology brings out the finest details with outstanding clarity and naturalness, from facial expressions to subtle nuances. With 8K AI Upscaling Pro, users’ favourite shows and movies are transformed to match the 8K display closely, allowing them to enjoy the level of detail and picture clarity surpassing conventional 4K TVs.

Additionally, AI Motion Enhancer Pro makes fast action smoother and clearer while Real Depth Enhancer Pro adds a lifelike depth to the picture and pulls viewers into the scene every time. All these features come together to redefine the big-screen experience.

The Neo QLED 8K also delivers audio powered by AI sound technology. It’s Active Voice Amplifier Pro  excels at extracting dialogue from background noise, ensuring every word is heard clearly. Object Tracking Sound Pro also enriches the audio experience by syncing the sound with on-screen action, creating a more dynamic and engaging viewing experience. Adaptive Sound Pro refines the audio experience by intelligently adjusting the audio to the content and room acoustics for a genuinely rich and lifelike sound.

The Neo QLED 8K also boasts AI features that understand and adapt to user needs. The AI Auto Game Mode kicks in during gaming, optimising the visuals and audio for an even more immersive and engaging gaming experience. The AI Customization Mode adjusts the picture for each scene based on user preference, while the AI Energy Mode saves power without compromising picture quality. These features ensure that Neo QLED 8K is easy, personalised, and energy efficient for all entertainment needs.

 Neo QLED 4K, OLED and Sound Devices

The 2024 Neo QLED 4K lineup brings cutting-edge innovations from the latest Neo QLED 8K flagship TVs, elevating the viewing experience with ground-breaking features powered by the NQ4 AI Gen2 Processor.

With the world’s first Pantone Validated display for colour accuracy and Dolby Atmos for an immersive audio experience, Neo QLED 4K sets the bar for the ultimate 4K UHD experience.

Samsung is also introducing the world’s first Glare-Free OLED, eliminating unnecessary reflection while preserving deep blacks and clear images under lighting conditions. Powered by the same formidable NQ4 AI Gen2 Processor as the Neo QLED 4K lineup, Samsung’s OLED TVs boast features like the Real Depth Enhancer and OLED HDR Pro, bringing picture quality to new heights.

Additionally, with features such as Motion Xcelerator 144Hz ensuring smooth motion and quick response rates, Samsung OLED is the ultimate choice for gaming. Complemented by sleek designs, these OLED TVs elevate the viewing space. Available in Kenya in two models —S90D — ranging from 55 to 83 inches, there’s a perfect fit for every home.

The 2024 line-up also includes the latest Q-Series Soundbar, Q800D, which boasts an 11.1.4-channel setup with Wireless Dolby Atmos. This model comes with a host of features that stand as a testament to Samsung’s continued leadership as the world’s best-selling soundbar brand for the past 10 years, featuring innovations such as Sound Grouping for pulsating, room-filling sound and an option for personal listening that allows users to enjoy their content through rear speakers without disturbing others.

Samsung’s latest TVs are designed with SmartThings AI capabilities to save energy. The new AI Energy Saving mode can reduce energy use by 23% compared to the standard mode.

With SmartThings integration, various Samsung TVs can automatically adjust colour validation based on the viewing environment to enhance energy efficiency.

Samsung has also unveiled an upgraded Frame TV with dynamic screen refresh rates and better colour validations for improved energy efficiency.

In 2024, Samsung’s AI screens are set to redefine the user experience with advanced connectivity and a suite of smart features, apps and platforms. Leveraging the powerful Tizen OS, these innovations have created an ecosystem that is connected, personalised, and secure through Knox Security. This allows devices to integrate effortlessly into users’ digital worlds, transforming screens into a central hub for all their needs.

Samsung’s latest TVs are designed to connect with a smart ecosystem immediately upon setup. The moment users turn on their new Samsung TV, the TV recognises and connects to existing networks and devices, all orchestrated through a simple notification on users’ smartphones.

The 2024 screen line-up also brings integration with users’ smartphones to new heights. Users can bring their smartphone near the TV to activate Smart Mobile Connect, which turns the device into a universal remote for the TV and connected home appliances.Additionally, smartphones  can be used as game controllers with a customisable user interface (UI) and haptic feedback, offering convenient and enhanced gameplay at their fingertips.

Samsung’s 2024 Smart TVs provide a highly personalised experience with its apps and platforms. With the latest addition of widgets, TV screens are now personalised dashboards that allow users to easily monitor home status, camera feeds, energy usage, weather updates and more.

  Availability

The Neo QLED 8K QN800D is available in sizes of 65, 75, and 85 inches. The Neo QLED 4K is available in one model, QN85 D, and in sizes of, 55, 65, 75, 85,. The Neo QLED 8K and 4K line-up promises an unparalleled viewing experience in the premium large-screen category.

President William Ruto to Engage Kenyan Youths on X Space Today

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President William Ruto will engage with Kenyan youths today on X Space, a popular social media platform on X, in a three-hour session starting from 2 pm.

The conversation is expected to cover a wide range of topics relevant to the youth, with several cabinet secretaries and other leaders slated to join.

This virtual town hall comes in the wake of recent protests across Kenya, which have left a significant mark on the nation. The demonstrations, which erupted in various parts of the country, were sparked by widespread discontent over finance bill 2024.

Tragically, the protests resulted in the deaths of 41 people, leading to calls for government accountability and more robust engagement with the public.

President Ruto’s administration has faced intense scrutiny and criticism over its handling of the protests and the underlying issues that fueled them. In response, the government has pledged to take steps to address the grievances raised by the demonstrators. Today’s engagement on X Space is seen as a critical step towards fostering dialogue and understanding between the government and the youth.

Youth leaders and activists have welcomed the opportunity to directly engage with the President and other officials, hoping that it will lead to concrete actions and policies that address their concerns. The session is expected to be lively, with many participants eager to voice their opinions and seek answers to pressing questions.

The conversation on X Space is part of President Ruto’s broader strategy to utilize digital platforms for governance and public engagement. By leveraging social media, the government aims to reach a wider audience, particularly the tech-savvy younger generation, and to make governance more accessible and transparent.

Charlene Ruto, the President’s daughter, has encouraged young Kenyans to take full advantage of this unique opportunity to voice their concerns and engage constructively.

In a message on X, Charlene described the event as a “chance of a lifetime” and emphasized the importance of using it wisely. “Young people, the chance of a lifetime awaits you. I encourage you to use it wisely and engage constructively because you are the ones who will determine the continuity of such levels of discussion for your success,” she stated.

Charlene highlighted the significance of the event, noting that President Ruto will be the first president globally to engage with Generation Z through an online platform like X Space. “The first ever president in the world to hold an online meeting with all Gen Z. Leggoo!” she added.

The Cabinet will also join President Ruto in this interactive session, aimed at fostering national renewal and creating a better Kenya. The Executive Office of the President issued a statement inviting all Kenyans to contribute to this dialogue.

State House Spokesperson Hussein Mohammed confirmed that the President will address issues raised by the youth during the session.

X Space is a platform for live audio conversations, accessible to anyone on iOS, Android, and the web. All sessions are public, allowing widespread participation and engagement.

As the nation watches, today’s event will be a crucial indicator of the government’s commitment to addressing the challenges faced by Kenyan youths and rebuilding trust with the public.

How to Create a React App in Minutes?

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React has surged to prominence as a top JavaScript library for crafting user interfaces, owing to its adaptability, speed, and developer-centric capabilities. Previously, initiating a React application meant delving into substantial configuration and groundwork. However, leveraging contemporary tools and libraries has streamlined the process, enabling the swift creation of React apps within minutes. This guide will walk you through the seamless steps to swiftly set up a React application.

Step 1: Install Node.js and npm

Before you can create a React app, you’ll need to have Node.js and npm (Node Package Manager) installed on your computer. Node.js is a JavaScript runtime that allows you to run JavaScript code outside of a web browser, while npm is a package manager that helps you install and manage JavaScript libraries and tools.

You can download Node.js from the official website nodejs.org. Once you’ve installed Node.js, npm will be automatically installed along with it. To verify that Node.js and npm are installed correctly, open your terminal or command prompt and run the following commands:

bash

node -v

npm -v

These commands will display the versions of Node.js and npm installed on your system. If you see version numbers displayed for both commands, you’re ready to move on to the next step.

Step 2: Install Create React App

Create React App is a tool that helps you set up a new React project with a single command. It handles all the configuration and dependencies for you, allowing you to focus on writing React code without worrying about build configurations.

To install Create React App, open your terminal or command prompt and run the following command:

bash:

npm install -g create-react-app

The ‘-g’ flag tells npm to install Create React App globally on your system, making it accessible from any directory. Once the installation is complete, you can create a new React app using Create React App.

Step 3: Create a New React App

Now that you have Create React App installed, you can use it to create a new React app. Navigate to the directory where you want to create your app using the ‘cd’ command, then run the following command:

bash

npx create-react-app my-react-app

Replace ‘my-react-app’ with the name you want to give your app. This command tells Create React App to create a new React app in a directory with the specified name. It will automatically set up the necessary files and dependencies for you.

Once the command finishes running, navigate into your new app’s directory:

bash

cd my-react-app

Step 4: Start the Development Server

With your React app created, you can now start the development server to see your app in action. Run the following command in your app’s directory:

bash

npm start

This command will start the development server and open your React app in your default web browser. You should see a default React welcome page, indicating that your app is up and running successfully.

Step 5: Explore Your React App Structure

Now that your React app is running, let’s take a quick look at the structure of the files and directories that Create React App has set up for you:

  • public/: Contains the public assets of your app, such as HTML files, images, and favicon.
  • src/: Contains the source code of your React app, including JavaScript files, components, stylesheets, and tests.
  • index.js: The entry point of your app, where React is initialized and the app is rendered into the DOM.
  • App.js: The main component of your app, which is rendered by ‘index.js’. You’ll spend most of your time writing and editing this component.
  • App.css: The stylesheet for your main component, containing styles specific to ‘App.js’.
  • package.json: The configuration file for your app, which includes dependencies, scripts, and other metadata.

Feel free to explore these files and make changes to customize your React app. You can add new components, modify styles, and install additional packages as needed.

Step 6: Add Additional Functionality

Now that you have a basic React app set up, you can start adding additional functionality to make your app more interactive and dynamic. Here are a few ideas to get you started:

  • Add Components: Create new React components to modularize your app and keep your code organized.
  • Fetch Data: Use libraries like ‘axios’ or the built-in ‘fetch’ API to fetch data from external APIs and display it in your app.
  • State Management: Explore state management solutions like React’s built-in ‘useState’ hook or libraries like Redux for managing complex states in your app.
  • Routing: Implement client-side routing using libraries like React Router to create multi-page apps with navigation.
  • Styling: Use CSS, Sass, or CSS-in-JS solutions like styled-components to style your components and create a visually appealing UI.
  • Integrate Figma Designs: Leverage Figma to React workflows with advanced tools like Figma to React and seamlessly translate Figma designs into React components, ensuring consistency between design and code implementation.

By adding these and other features, you can turn your basic React app into a full-fledged web application with rich functionality.

Step 7: Build and Deploy Your App

Once you’ve integrated Figma designs into your React app and added the desired functionality, you can prepare it for deployment. Create React App comes with a built-in script for creating a production build of your app, which optimizes files for performance and prepares them for deployment.

To build your app, run the following command in your app’s directory:

bash

npm run build

This command will generate a ‘build/’ directory containing the optimized production build of your app, including the integrated Figma designs. You can then deploy this build to a web server, cloud platform, or hosting service of your choice.

For example, if you want to deploy your app to a service like Netlify or Vercel, you can follow their respective deployment guides to upload your build files and make your React app, complete with Figma-integrated designs, live on the internet.

Conclusion

Creating a React app in minutes has never been easier, thanks to tools like Create React App and modern JavaScript development workflows. By following the steps outlined in this article, you can set up a new React project, add functionality, and deploy your app with confidence.

Additionally, integrating design elements from Figma can significantly enhance the visual appeal and user experience of your React app. By leveraging Figma’s powerful design tools and collaboration features, you can create stunning UI/UX designs that seamlessly integrate with your React components.

Whether you’re building a simple portfolio website, a complex web application, or anything in between, React combined with Figma allows you to bring your ideas to life on the web in a visually captivating and user-friendly manner. Happy coding!

Colombian Fintech Minka Expanding to Eastern and Southern Africa

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Minka, the Colombian real-time payment startup, is set to expand to Eastern and Southern Africa to be part of the $115 billion digital economy on the continent.

Minka plans to set up shop in Kenya, Uganda, Tanzania, and Ethiopia in its first phase then expand to Mozambique, Zambia, and Malawi in Southern Africa to help bridge the gaps between banks, financial institutions, Central banks, fintechs, and clearing houses.

According to the company’s CEO Domagoj Rozic,“Our expansion into Africa is a testament to our continued mission to build more efficient payments infrastructure across the Global South. Low levels of financial inclusion, a heavy reliance on cash, and non-interoperable legacy payment systems are just a few of the issues our team in Latin America has successfully overcome and we believe it is our duty to continue creating solutions that benefit society”.

Founded in Bogota, Colombia, in 2016, Minka is a cloud-based programmable technology platform that upgrade national payment systems for the digital economy. The platform simplifies how customers and merchants interact with money and due to that it raised $24 million in capital through a funding round led by Tiger Global and Kaszek in 2022. The funds were used to modernize the clearing houses and central bank infrastructure and enable a fully self-service platform for publishing and moving money to organizations.

Minka is an open infrastructure for publishing money and is building a layer2 payments protocol used by clearinghouses, financial institutions, and fintechs to move money in real time. Currently Minka is modernizing the payments infrastructure of several countries in Latin America and is already live with 20 financial institutions then expand into Africa.

“We’re excited to bring our story and the benefits of our approach to people in Africa, where we are building impactful connections between financial institutions of all types and allowing teams to build and connect payment systems in days instead of years,” said Alexander Perko, Minka’s Growth lead.

Minka follows EBANX’s launch in 2023 in 11 African countries and Uruguay’s dLocal launch in Kenya, Rwanda and Nigeria.

CarePay International Appoints M-TIBA MD Pieter Prickaerts as CEO

Pieter Prickaerts, Managing Director of Kenya’s  health insurance technology platform, M-TIBA, has been appointed as CEO of CarePay International to spearhead the global expansion of the proven technology.

With this appointment Mr. Prickaerts will officially assume the CEO position on July 1st, 2024, while continuing to oversee M-TIBA’s operations in Kenya.

“The transformative impact of technology on healthcare administration is profound, especially as global healthcare costs continue to rise,” said Mr. Prickaerts. “In Sub-Saharan Africa, less than 15% of the population has access to health insurance, highlighting the critical need to expand access. I am honored by the board’s trust in appointing me as CEO and look forward to advancing our global healthcare transformation.”

Pieter joined CarePay in 2019 as Customer Success Director and became Managing Director of M-TIBA in 2023. In these roles, he significantly scaled CarePay’s technology in Kenya, enhancing accessibility and affordability of health insurance for Kenyans. Prior to CarePay, Pieter held roles at McKinsey & Company across various global locations.

He succeeds Kees van Lede, who has led CarePay for nine years and will transition to an advisory role while remaining closely involved as a co-founder.

Mr. Prickaerts said,”I extend my gratitude to Kees for his contributions and dedication in advancing CarePay to its current stage,As a founding member, Kees has built a strong foundation and demonstrated the value of CarePay’s technology through real-world applications in Kenya and beyond. We are pleased that he will remain closely involved to ensure a seamless transition.”

 CarePay International  has  also announced the appointment of Rita Okuthe to the Supervisory Board. Her appointment underscores the commitment to incorporating Kenyan leadership and expertise in CarePay’s strategic decisions.

“In our mission to provide healthcare access to more people in Kenya, across the region and internationally, Pieter will be supported by a robust and diverse management team,” stated Rita Okuthe.

CarePay’s platform connects individual members with payers and healthcare providers in real-time, managing patient payments and information flows efficiently. This cloud-based technology reduces administration costs and accelerates hospital payments through automation and AI, thereby lowering healthcare costs and enhancing transparency and patient experience.

To date, over 4.8 million individuals and 5,000 healthcare providers have joined the platform, with CarePay preparing for expansion into new markets. The company raised USD $45 million in Series A funding in 2019. CarePay was also recognized in Fortune’s 500 ‘Change the World’ index in 2020.

“On behalf of the Board, we have full confidence in Pieter’s ability to lead CarePay to new heights,” concluded Rita Okuthe.

Visa Announces Finalists of She’s Next Kenya Grant Competition

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Visa, a world leader in digital payments, has announced the top five finalists for the inaugural She’s Next Kenya program after a rigorous selection process from over 2,300 applicants.

Visa says the finalists will compete for the grand prize of up to KES 2.5 million are Busu Naturals, Cladfy, Code with Kids, Crafts with Meaning, and Timao Group.

She’s Next is part of Visa’s efforts to support the creation of an inclusive, equitable world where women business owners can flourish. It aims to support women-owned small businesses through funding, training, and mentorship. 

“We received an overwhelming number of applications from amazing women-led businesses from across the country and have reviewed all of them quite keenly. These finalists have demonstrated exceptional business acumen, innovation, and resilience, standing out from a highly competitive field. They represent a diverse range of industries and are set to significantly contribute to the Kenyan economy and beyond. We are also excited about the additional SMEs that we are integrating into our She’s Next community to help them further develop their business skills and strategies, propelling their enterprises to new heights”, said Eva Ngigi-Sarwari, Visa Kenya Country Manager.

In addition to the top five, an additional 15 SMEs will enter a capacity building and mentorship program being carried out in partnership with Kayana Create, a community of female entrepreneurs that seeks to support and empower talented women entrepreneurs to take their businesses to the next level.  

“She’s Next Kenya continues to champion the empowerment of women entrepreneurs, fostering innovation and creating economic opportunities. We congratulate the finalists and look forward to their presentations. The determination and drive they have demonstrated are truly inspiring and we are excited to see who will emerge as the winner in this fierce competition”, said Patricia Okelo, Co-founder, Kayana Create.

The selected SMEs are drawn from various industries including sustainability, financial services and STEM education. They include:

  • Busu Naturals – Addresses the need for locally manufactured emollients that cater to sensitive African skin by incorporating local botanicals and traditional beauty practices from different Kenyan ethnicities to provide high-quality, safe, and consistent skincare products.
  • Cladfy – Addresses the credit gap in sub-Saharan Africa’s informal sector by enabling micro-lenders to provide working capital loans to micro-businesses such as smallholder farmers, fish vendors, and motorcycle riders.
  • Code with Kids – Empowers children from low-income backgrounds with affordable and accessible STEM education, ensuring socio-economic barriers do not hinder their ability to learn, innovate, and succeed.
  • Crafts with Meaning – An award-winning social enterprise that collaborates with artisans in Kenya and Uganda to create home decor goods, lifestyle accessories, bags, and corporate merchandise inspired by African heritage.
  • Timao Group – Addresses plastic pollution and affordable housing in Kenya by transforming plastic waste into durable, cost-effective building materials for modular homes.

The winner of the KES 2.5 million grant will be announced on Wednesday 10th July 2024.

Egypt’s El Kheta secures $400,000 From EdVentures to revolutionise the edtech sector in Egypt

Egypt-based edtech startup El Kheta has raised a $400,000 investment from EdVentures, the investment arm of Nahdet Misr Group and the first VC company specialising in the educational technology sector in Egypt.

This investment is part of EdVentures’ commitment to supporting entrepreneurs and startups in the educational technology sector, enhancing innovation in this vital sector, contributing to job creation, and driving economic development in the country.

Dalia Ibrahim, Founder and Chairwoman of Nahdet Misr for Entrepreneurship EdVentures, said: “We firmly believe in the potential of the ‘El Kheta’ platform to revolutionise the online education sector in Egypt, especially with its educational services for school students. We are on the path and committed to supporting talented entrepreneurs in the educational technology sector and will help them achieve their vision of creating a better and easier educational experience for everyone.”

Founded in 2019 by Mohamed Mahmoud, El Kheta platform allows students to tailor their preferred curricula and create a study plan that suits their needs.

It offers reinforcement lessons to help school students in Egypt study, as well as providing them with exercises and exams from the new Egyptian curricula, helping students improve their academic performance and achieve success.

The platform’s services include reinforcement lessons, exams from Egyptian curricula, interactive educational videos, homework, and direct communication with teachers.

Currently there’s a rising demand for innovative educational solutions in the Middle East, driven by the need to improve educational outcomes and bridge gaps in the traditional education system. EdTech startups are capitalizing on this demand by offering a wide range of digital learning tools, platforms, and services.

EdVentures is a strong supporter of entrepreneurship in Egypt and the Arab region. This contribution aims to empower youth and expand the scope of online education opportunities for school students in Egypt.

New Accelerator Program to Propel Kenyan Tech Startups Across Africa

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Kenyan technology startups are set to receive a significant boost through a new program aimed at facilitating their expansion across Africa.

The Chanzo OneSpace Startup and Scaleup Accelerator (COSSA) was officially launched yesterday in Nairobi, an initiative spearheaded by Two Rivers International Finance and Innovation Centre Special Economic Zone (TRIFIC SEZ), ONESPACE, and Chanzo Capital.

The COSSA program is designed to provide participating startups and scaleups with vital resources, including capital, capacity building, and access to a supportive business community. This initiative is part of a broader effort to help Kenyan tech companies grow and access new markets across the continent.

Investment, Trade, and Industry Cabinet Secretary, Rebecca Miano, who officiated the launch, highlighted Kenya’s impressive ranking as the third global destination for foreign direct investment in 2024. She reaffirmed the government’s commitment to supporting the growth and innovation of Kenyan startups.

TRIFIC SEZ focuses on enhancing trade, attracting investments, creating jobs, and driving economic development. ONESPACE offers flexible and innovative workspace solutions, while Chanzo Capital, an Africa-focused venture capital firm, invests in tech startups and scaleups through its KINGS (Kenya, Ivory Coast, Nigeria, Ghana, and South Africa) funds.

The inaugural cohort of the COSSA program includes three promising Kenyan companies: SaveApp, At Large Innovation (ThryvCapital Partners LLP), and CheckUPS COVA, all of which are poised for regional expansion.

Centum CEO Dr. James Mworia emphasized that COSSA is integral to Centum’s broader strategy to generate over 10,000 jobs, attract foreign direct investments, and enhance trade and service exports through the TRIFIC SEZ.

In addition, Chanzo Capital will host its annual Angel Fair Africa event in Nairobi in November. This event will provide COSSA participants with an opportunity to pitch their businesses to potential investors.

Faulu receives over Ksh 900 million boost for digital, MSME banking 

Faulu Microfinance Bank has received over Ksh 900 million from its parent company, Old Mutual, to strengthen its operations and reposition its business model for long-term growth. The firm will use the funds to grow its digital banking offering and realign its distribution channels and human capital to drive sustainable growth. 

Faulu Microfinance Bank says this part of its strategy to turn around its performance by becoming a leading traders bank and digital finance provider. 

“Over the last 18 months, we have made significant investments in enhancing our digital capabilities. We are eager to become a leader in the digital finance space,” said Faulu Microfinance Bank CEO, Julius Ouma. “Many of the services that the bank offers are now available online, and our intention is to make our services more accessible for our customers. We will also be leveraging the support of our Holding company, Old Mutual, who have committed over KSh 900 million towards these operating model enhancements, to reposition Faulu as the digital bank of now!” 

The Bank has also made a strategic decision to review its distribution channels in line with the new operating business model, supported by an active agency network of more than 70.

Faulu also announced that it would be growing its Micro, Small and Medium Enterprise (MSME) support offering, as well as implementing an enhanced distribution network. The bank sees a great opportunity to support amongst MSMEs as they represent the life blood of Kenya’s economy.

Faulu, established over 30 years ago, has become one of Kenya’s most recognisable financial services brands. The Bank, which forms part of Old Mutual East Africa Holdings Group, has initiated the business refocus in response to growing customer demand for digital services, as well as to reduce costs and become more competitive. 

Old Mutual Holdings CEO, Arthur Oginga added: “With this change, we are both enhancing the Faulu service offering to our existing and future customer network, as well as positioning the business to deliver more value sustainably. Faulu has the full backing of Old Mutual in these endeavours, and we are confident that the refocus will drive shared value for all our stakeholders.” 

Faulu Chairman, George Maina also expressed his confidence in the operational announcements, saying: “This refocus is also in line with our purpose of being our customers’ most trusted financial partner and helping them achieve their financial goals. It is also critical to the bank’s ongoing competitiveness in an ever-expanding financial services sector in Kenya. We are excited at the opportunity to refocus the Faulu business as we believe that it will deliver enhanced value for both our customers and our business.” 

Threads Surpasses 175 Million Monthly Active Users in Less Than a Year

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Meta Platforms Inc. yesterday announced that its social media app, Threads, has surpassed a milestone of 175 million monthly active users (MAUs) in less than a year since its launch on July 5, 2023. This impressive growth signifies a potential shift in the social media landscape, as users seek new platforms for public conversations.

“We are incredibly excited by the positive response to Threads,” said Mark Zuckerberg, CEO of Meta. “Reaching 175 million monthly active users in under a year is a testament to the demand for a platform focused on positive and creative public conversations.”

Threads was launched in July 2023 to provide users with an alternative to existing platforms that had undergone significant changes. The app quickly gained traction, reaching 100 million users within five days of launch – a record for the fastest-growing app in history.

Threads offers a unique user experience centered around real-time, public conversations. The platform has seen strong engagement, with text-based posts forming the majority of content (63%) and image sharing remaining popular (25% of posts contain at least one image). Over 50 million Tags have also been created, with categories like Photography, Books, and Fitness being particularly popular.

In addition to its core functionality, Threads has introduced several user-requested features, including a web app, trending topics, and an edit button. Most recently, the platform launched its API, allowing third-party developers to create integrations and applications that further enhance the user experience.

While Threads continues to focus on user growth and engagement, it has yet to implement advertising as a revenue stream.

This surge in Threads’ user base suggests a growing appetite for alternative social media platforms. With its focus on positive and creative public conversations, Threads is well-positioned to continue its growth and become a major player in the social media landscape.

Prembly and Peleza Merge to Form Prembly Group, a Global Leader in Data Security and Compliance

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U.S.-based Prembly, a provider of digital security and compliance solutions for emerging markets, and Peleza, an East African background check company, announced their merger today to form Prembly Group, in a move to become the strongest data security and compliance solutions provider.

Founded in 2021, Prembly has become a major player in digital security. They’ve helped businesses expand into emerging markets by developing solutions tailored to local contexts.

Prembly has partnered with African governments to facilitate digital security transformation and lead compliance solutions in the region.

“Merging with Peleza strengthens our expertise and technology, allowing us to surpass client expectations globally,” said Lanre Ogungbe, Prembly’s founder and Chief Executive Officer (CEO). “We’re thrilled to welcome Marita Mutemi, with over 15 years of experience, to our leadership team at Prembly Group. Her expertise will drive innovation and strategic initiatives.”

Operating under the Prembly Group brand, this merger leverages synergies to improve service delivery across various sectors like finance, telecom, and e-commerce.

The firms note that customers can expect advancements in identity verification, background checks, risk management, and regulatory compliance solutions tailored to meet businesses’ evolving needs.

Peleza brings a strong reputation and client relationships from nearly a decade in East Africa, with partnerships like Uber, Bolt, and FedEx. This merger signifies increased growth opportunities within the continent and is expected to benefit shareholders, customers, and investors.

“This is a unique chance to combine two excellent companies with rich histories and a bright future,” said Marita Mutemi of Peleza. “We’re excited by the strength of our combined team, serving global markets and fostering a culture that drives excellence in data integrity and compliance.”

With a combined workforce of over 100 employees and offices in Uganda, Kenya, Nigeria, and the US, Prembly Group plans global expansion. Since launch in 2021, Prembly has processed over 40 million verifications, projected to triple with the merger. The combined entity anticipates processing an average of 3.5 million identity verifications monthly, addressing emerging market and global data infrastructure needs.

Prembly Group is a global leader in data infrastructure and compliance solutions. They create essential infrastructure to enhance digital integration across emerging markets and enable global markets to operate more effectively within these regions.

The recent merger with Peleza strengthens global operations and local/international market reach. Additionally, the acquisition of Tunnel bolsters data capacity. Prembly Group is now a leader in identity verification, fraud prevention, and background checks, and the most robust data security and compliance solutions provider for emerging markets.

Nigeria Announces Historic Mission to Send First Citizen to Space

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In a momentous development for the nation, Nigeria is poised to send its first citizen into space, partnering with the Space Exploration and Research Agency (SERA) to achieve this historic feat.

This mission marks the culmination of Nigeria’s long-held ambition in space exploration, a journey that began in 1999 with the establishment of the National Space Research and Development Agency (NASRDA). The successful launch of Nigeria’s first satellite, NigeriaSat-1, in 2003, paved the way for this significant milestone.

Partnership for Inspiration

The Nigerian citizen selected for this suborbital spaceflight will travel aboard the New Shepard spacecraft, courtesy of a partnership with Blue Origin, the space exploration company founded by Jeff Bezos.

This collaboration embodies SERA’s mission to foster inclusivity in space exploration, offering unique experiences to individuals from nations traditionally underrepresented in this field.

“This partnership marks a significant milestone in Nigeria’s 25th year of space exploration,” said Mathew Adepoju, Director General of NASRDA. “It opens new avenues for scientific research and technological advancement, inspiring a future generation of Nigerians to pursue careers in STEM fields.”

A Dream Realized

The Nigerian government has long envisioned human spaceflight as a cornerstone of the nation’s space program, a vision outlined in the Nigeria Space Policy and Program approved in 2001. Signing the Memorandum of Understanding (MoU) with SERA, Chief Uche Godfrey Nnaji, Nigeria’s Honourable Minister of Innovation, Science and Technology, emphasized the government’s commitment to reviving and realizing this long-held aspiration.

“This partnership is a testament to the power of global collaboration and a symbol of boundless human potential,” Minister Nnaji remarked.

This historic mission is not just a giant leap for Nigeria but a significant step towards a more inclusive and collaborative future.

African Startups Can Now Apply for Up to $50,000 in Funding from the 10k2Startup Initiative

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The 10k2Startup initiative, founded by Julius Nkansah Owusu-Kyerematen, Google’s head of multi-channel mid-market skills, is offering financial backing to African startups tackling critical challenges. The program provides funding ranging from $10,000 to $50,000 alongside additional support measures.

“We understand the critical role funding and strategic guidance play in the success of startups,” said Owusu-Kyerematen. “10k2Startup is here to address those challenges and empower African entrepreneurs to turn their ideas into reality.”

Operating out of Ghana, 10k2Startup invests in return for equity stakes of 15% to 25%. The initiative’s portfolio includes innovative startups like Homely, Nuelle Organics, and Green Tech.

Key Highlights of the 10k2Startup Program:

  • Funding: $10,000 to $50,000
  • Application Deadline: July 15, 2024
  • Shortlisted Pitch Session: July 31, 2024
  • Funding Decisions: Within two weeks of pitch session
  • Additional Support: Expert advice, mentorship, connections to investors, partners, and customers

Who Can Apply?

The 10k2Startup program is open to all industries, with a focus on tech-enabled startups that leverage technology to create pioneering solutions. The initiative seeks passionate and driven founders who demonstrate perseverance, discipline, and strategic thinking.

How to Apply

Interested startups can apply for the second cycle of the 10k2Startup program here by July 15, 2024

The 10k2Startup initiative is committed to fostering a thriving startup ecosystem in Africa. By providing financial backing, mentorship, and connections, 10k2Startup empowers African entrepreneurs to make a positive impact and solve pressing challenges.

Andela adds Code Test Playback feature to enhance transparency in technical hiring

 Andela, the digital marketplace for technical talent has added a Code Test Playback Feature aimed at improving hiring decisions by giving customers insights into the technologists’ coding strategies and problem-solving approaches in real-time.

Founded in 2014 in Nigeria,Andela is private marketplace of skilled digital talent. Its AI-powered platform, Andela Talent Cloud, optimizes the process of finding the right talent and getting projects started fast. The company manages all the groundwork associated with borderless hiring, from compliance and payroll to talent management.It’s  talent ecosystem spans over 135 countries, including Africa and Latin America, and is highly skilled in advanced technologies to support Application Development, Artificial Intelligence, Cloud Engineering, Data & Analytics, and more.

According to said Jake Hoffner, co-founder of Qualified, Senior Director of Product Management at Andela,” the company has some of the brightest tech talent from around the world. With the new code playback feature, talent have the unique opportunity to showcase their skills,”

“Technologists can already set themselves apart by displaying their certifications and badges that highlight their skills proficiency on their Andela Talent Cloud profiles .”

With the new code playback feature, technical hiring managers can see talent’s critical thinking process and unique approaches to problem-solving first-hand, gaining predictive insight into how talent will perform on the job and eliminating the extra step of coding interviews to gain these insights.”

With organizations facing a severe shortage of key talent and 90% of organizations saying they will have a meaningful skills gap in the coming years, then hiring for potential is crucial, according to McKinsey. 

One of the distinctive features of Andela Talent Cloud and the added code playback is that the coding tests within the platform are written the same way code production tests are, thus utilizing a recommended benchmark for coding strategy.

The feature also incorporates deep proctoring abilities that call out key events, such as a user exiting and returning to the window and external copying and pasting to ensure an honest and transparent process.

With Andela Talent Cloud, companies benefit from a faster, richer, more efficient hiring experience. The single integrated platform streamlines the complete hiring lifecycle by helping companies’ source, qualify, hire, manage, and pay global technologists.

In addition to providing visibility into rich talent profiles and code playback, the platform opens access to a global pool of certified talent and optimizes time consuming processes like interview scheduling.  

“It’s so important for companies to bring on the right people with the right skills at the right time to achieve results.” said Courtney Machi, Andela’s Vice President of Product.  

“We believe that giving hiring managers full transparency and rich data that they can use to make critical recruiting decisions is the best way for everyone involved to achieve the outcomes we all want – successful projects, happy teams, and business results.”

Andela acquired Qualified.io in 2023 and has since incorporated the assessment platform into Andela Talent Cloud, offering clients a unique approach to scaling their teams with specific skill sets.

Muffin DC Fans: Cooling Your Tech with a Whisper

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When it comes to seeking the low noise and high efficiency cooling solutions for technology, muffin DC fans are simply perfect. These small and energy-saving devices are crucial for today’s electronics, where managing operating temperatures is critical to the durability and effectiveness of delicate parts. The concept of muffin DC fans is based on centrifugal fan and rotary blower technologies, which are highly efficient and versatile when it comes to air movement.

Definition

Muffin DC fans are miniature fans that are designed to use direct current (DC) in the cooling of various electronics. These fans are named due to their size and shape and they are in fact, shaped like a muffin top. They are especially preferred in the situations when the size of the equipment is an issue and when noise must be minimized, for example in computer servers, telecommunications equipment, and medical devices.

Advantages 

Muffin DC fans are effective in moving air and at the same time they are very quiet, this is very useful in places where noise is a nuisance or where it can affect the performance of equipment. DC motors are more efficient than AC motors, which means that they help to decrease the overall energy consumption of devices and make technology usage less damaging to the environment.

Comparing Technologies

Although muffin DC fans are useful for small applications, knowing their connection with centrifugal fan and rotary blower technologies is beneficial in comprehending their position in larger systems. Centrifugal fans and rotary blowers are able to handle the larger volumes of air needed in industrial applications, which is different from the focused, narrow streams of air that are delivered by muffin DC fans in confined areas.

New Development

The current developments of muffin DC fan technology are a combination of the principles of centrifugal fans and rotary blowers. These innovations include enhancing the fan blade design to enhance the flow of air and enhancing the motor design to cut energy consumption even more. Therefore, the modern muffin DC fans are quieter, more powerful, and energy efficient than the older cooling technologies, which makes them very beneficial.

Future Trends

The future of cooling technology seems bright and the muffin DC fans are expected to be the most suitable for applications that require small but efficient cooling solutions. With the advancement in electronics, the devices are becoming more powerful and portable, the need for cooling that is efficient and inconspicuous is on the rise. This demand is pushing the evolution of the new-generation muffin DC fans that could incorporate IoT connectivity for performance optimization and intelligent cooling.

In conclusion, muffin DC fans are an ideal solution for cooling technology silently and effectively. Its development has been fostered by the enhanced performance of centrifugal fans and rotary blowers, making them essential in the contemporary electronics industry. Looking into the future, the development of these fans will inevitably be an essential part of cooling our ever more complex technological environment.

Egypt-based fintech Connect Money raises $8 million to revolutionize embedded finance across the MENA region

Egypt-based fintech Connect Money, a banking-as-a-service fintech company, focusing on embedded finance services has secured  $8 million seed funding round .

The funding round which was led by Disruptech Ventures and Algebra Ventures will enable Connect Money to launch five new business verticals that will be announced separately in North African markets, emerging as the go-to platform for businesses seeking seamless banking services.

“We are immensely proud to announce the closure of our seed funding round, a testament to the confidence and support extended by our investors Disruptech Ventures, Algebra Ventures, Lorax Capital Partners, One Stop and MDP. This significant seed investment underscores our hyper-growth potential as we strive to eliminate existing pain points for businesses aiming to become financially enabled,” said Ayman Essawy, Co-founder and CEO of Connect Money.

Founded in 2024 by Ayman Essawy, Marwan Kenawy and Momtaz Moussa, Connect Money offers a white-label card issuing platform that enables businesses to provide their customers with debit and credit cards without the need to develop fintech infrastructure or obtain regulatory licensing.

Their state-of-the-art solutions encompass digital payments, instant financing, and access to a network of over 20,000 marketplace partners. The company provides end-to-end support, including white-labeled card issuance, distribution, KYC, customer support, and mobile banking app development, simplifying the payments experience for their clients and their customers all through a unique SaaS offering.

As a third-time founder having built Dsquares (2012) and Lucky ONE (2019) along with veteran co-founders Marwan Kenawy and Momtaz Moussa, Essawy is optimistic about enabling non-financial institutions in accelerating their growth by feeding more efficiencies to their existing operations and generating new revenues streams from banking services.

“We are proud to partner with Connect Money to revolutionize embedded finance in MENA. This investment demonstrates our commitment to supporting solid teams that build disruptive technologies for financial inclusion and digital transformation,” stated Mohamed Okasha, Managing Partner of Disruptech Ventures. “Connect Money’s expertise, deep market knowledge, and cutting-edge integrated tech will greatly enhance accessibility and efficiency in financial services, benefiting the fintech-enabled ecosystem and transforming banking operations while positioning Egypt as a valuable hub for exporting embedded finance services,” he added.

“Ayman is an incredible entrepreneur who has co-founded some of the most successful startups in MENA, including Dsquares and Lucky. We were part of his journey since the very beginning and are excited to be backing him once more as he addresses a massive fintech infrastructure gap in the region,” said Omar Khashaba, General Partner at Algebra Ventures. “Connect will allow companies to issue cards to their customers, partners or suppliers without having to build fintech infrastructure, obtain regulatory approval or partner with a bank. Companies can just focus on their core business and let Connect do all the heavy lifting,” added Khashaba.

Mohamed Sadek, Managing Partner at Lorax Capital Partners, highlighted, “We are excited to partner for the third time with the founders of Connect Money in their latest venture in the Banking-as-a-Service space. We believe there is a strong need for the Connect solution in the region and beyond. This makes us extremely bullish on its prospects in transforming how numerous businesses deal with their customers, suppliers, and merchants.”

This funding round will be directed towards continuing Connect Money’s growth path in existing markets such as Egypt and Morocco, fueling innovation and advanced technology capabilities, and accelerating new market entries with a prime focus on Africa.

Nigeria’s Blueroomcare secures funding  to bolster access to affordable professional counselling

Blueroomcare, a Nigerian insurance-covered digital therapy service, has secured an undisclosed round of pre-seed funding aimed to boost access to affordable  therapy for all Africans.

The  pre-seed funding round was led by EHA Impact Ventures, with additional participation from TVC Labs and Innovest Africa.

 Moses Aiyenuro, founder and CEO of Blueroomcare said, “This funding will allow us to develop our technology further and expand our services, bringing us closer to our goal of making high-quality mental health care available to everyone, everywhere.”

Founded in 2021, Blueroomcare allows clients to communicate with therapists via in-app messaging, videos, and voice messages. Its platform integrates advanced algorithms with personalised support from licensed mental health professionals, offering users a comprehensive and tailored mental health experience. 

According to Aiyenuro the creation of  Blueroomcare was  inspired by his personal struggle with depression in 2020 after skipping a test.

 World Health Organizarion (WHO) estimates that worldwide, 450 million people have a mental disorder and 25% of the population will suffer from mental illness at some times in their lives.

Aiyenuro stated that Nigeria is in a mental health crisis as one person in four Nigerians suffer from mental illness, but help is hampered by tight budgets and a lack of skilled staff.

Also due to the myths and stigma associated with mental health in Nigeria, seeking counseling or a therapist is seen by some as a sign of weakness.As a result,it is practically impossible to access care in a timely way. Blueroomcare  therefore  aims to provide  effective and affordable mental health support to the common Nigerian.

 The recent funding will be utilised to enhance the Blueroomcare platform’s capabilities, introduce new features, and reach a broader audience.

The Digital Shift: How AI is Transforming Cone Crusher Technologies

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Artificial intelligence (AI) is revolutionizing different industries, and the mining industry is not an exception. AI’s inclusion into cone crusher technologies is rewriting the role of these critical machines, making them more intelligent, efficient, and highly precise. This digital transformation is not only increasing the performance of the crushers but also decreasing operational costs and environmental impact, which is a major advantage for the crusher stone suppliers around the world.

AI-Enhanced Performance Optimization

The main advantage of AI in cone crusher technologies is the possibility of performance optimization. AI algorithms can process data from the crusher’s operations in real-time, which is then used to adjust settings automatically to maximize performance for different material types and sizes. Therefore, this guarantees maximum efficiency and the least wear, which is very important for the productivity and the durability of the machines.

Predictive Maintenance

AI technologies allow for predictive maintenance which can foresee possible breakdowns and offer maintenance before the problem arises. This preventive method of maintenance significantly cuts down on unplanned shutdowns, which are very expensive for any operation. For cone crusher dealers and users, it means that they can be sure of productivity and have reduced maintenance costs, making AI a valuable investment.

Enhanced Quality Control

AI also improves the quality control of the products. Through constant monitoring and adjusting the crushing process, AI ensures that the final product has a higher level of consistency in terms of specifications. This is especially important to the crusher stone suppliers, who must ensure that their products are consistently of the highest quality that their clients demand.

Sustainability

AI integration helps the mining operations to achieve sustainability by improving resource use efficiency. High crushing efficiency results in less energy consumption and less waste, and this is in line with the global trend towards more sustainable practices in industrial operations. This efficiency is not only good for the environment but also makes the crusher stone suppliers more competitive in the market.

Advanced Training

AI does not only change the equipment itself but also the way operators are with the machines. AI systems with high levels of intelligence can help operators by providing immediate feedback and directions, so they can better understand the processes. It not only increases the efficiency of the operation but also improves safety, reducing the possibility of operator error.

Through integration of AI into cone crusher technologies, stone crusher suppliers and dealers can achieve higher efficiency, reduce the environmental impact, and stay competitive in the fast-paced market. The digital shift is taking place, and it is reshaping the capabilities of conventional mining equipment for the better.