Author: Staff Writer

The United Kingdom (UK) has unveiled its ambitious plan to propel Nigeria’s digital development through its Digital Development Strategy (DDS), aiming to equip over one million Nigerian beneficiaries with essential digital skills within the next two to three years. This initiative, outlined in the White Paper on International Development, underscores…

The National Identity Management Commission (NIMC) has announced a significant milestone in its National Identification Number (NIN) enrolment drive. As of Friday, May 10, 2024, over 107 million Nigerians have been registered in the database. This represents a 3.2 million increase from the 104 million reported in December 2023. This…

Axmed, a revolutionary two-sided B2B healthcare marketplace platform, announced that it has raised $2 million in a seed funding round. This investment, led by Founderful Ventures, brings the total funds raised to $7 million, following a $5 million grant from the Bill and Melinda Gates Foundation. Axmed is an innovative…

Remember the Nokia 3210? The virtually indestructible phone that dominated the late 90s with its iconic candy bar design, satisfying keypad clicks, and the legendary game Snake? The popular phone that sold over 160 million units? Well, get ready for a trip down memory lane because Nokia, to mark its…

MNZL, an Egyptian fintech startup, has announced the successful fundraise of $3.5 million. This capital injection aims to reshape the lending landscape in Egypt and the wider Middle East and Africa (MEA) region. The funding round of $3.5 million was led by P1 Ventures, Localglobe, and Ingressive Capital, with significant…

Canada’s regulatory agency for anti-money laundering announced on Thursday that it has imposed a fine of nearly C$6 million ($4.38 million) on cryptocurrency exchange Binance for breaching laws related to money laundering and terrorist financing. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) stated that Binance failed to…

In a bid to transform the financial landscape of Egyptian businesses, Swypex has announced its official launch following a successful $4 million seed investment round. Spearheaded by the esteemed venture capital fund Accel, this investment marks a significant milestone not only for Swypex but also for the fintech industry in…

Nigeria’s Central Bank, the CBN, has mandated all banks and Payment Service Providers (PSPs) to begin collecting and remitting a new cybersecurity levy. This move comes amidst growing concerns about cyber threats targeting the country’s burgeoning digital economy. The levy, set at 0.5% of the value of all electronic transactions,…

In a significant stride towards enhancing financial support for Quickteller agents, Asante Financial Services Limited and Interswitch have forged a strategic partnership to unveil a pioneering credit service named Agent Float Financing. This novel service, tailored to meet the unique credit requirements of Quickteller agents, aims to offer accessible loans…

Nigeria is about to take a giant leap in the lithium industry with the upcoming commissioning of its first and largest lithium processing plant. This exciting development was announced by Nasarawa State Governor, Engr. Abdullahi Sule, who met with the Minister of Solid Minerals, Mr. Dele Alake, to solidify plans.…

Nigerian logistics startup Renda has secured $1.9 million in pre-seed funding, marking another strong year for the African logistics and transportation sector. The funding round was a mix of debt ($600,000) and equity ($1.3 million), led by Ingressive Capital, with participation from several other investors including Techstars Toronto, Magic Fund,…

Move over, Farmville – LinkedIn is getting into the game! The professional networking platform recently surprised users with the announcement of a new feature: in-app puzzle games. While seemingly out of character at first glance, this move by LinkedIn could be a strategic play to boost user engagement and foster…

OpenAI has taken a significant step towards more natural and personalized interactions with the launch of its new “Memory” feature for ChatGPT Plus subscribers. This innovative addition allows ChatGPT to remember past conversations with a user, fostering a more contextual and fluid experience. Previously, each interaction with ChatGPT began as…

The VaxSocial Initiative, spearheaded by Global Impact in collaboration with the African Health Organisation (AHO) and Gavi, has announced the selection of seven organizations to receive funding totalling US$12 million. This initiative, focused on harnessing the power of social media to bolster vaccine confidence, marks a significant step forward in…

What is onshoring? Onshoring is a term used to describe a particular type of outsourcing model. This method involves using companies in the same country or location as yours to capitalise on the benefits of proximity. Similar models include reshoring, the reallocation of production back to the main headquarters, and…

The completion of an office move marks the beginning of a new chapter for any organization. Relocation can be a significant milestone, but it also demands meticulous planning beyond the physical move to ensure a seamless transition into the new workspace with professional movers. Upon entering the new office space,…

In a recent announcement, Glovo, a prominent food delivery platform in Africa, revealed its decision to cease operations in Ghana effective May 10, 2024. This decision marks a significant development in the company’s trajectory, coming two years after its substantial investment of €3.5 million ($3.7 million) to expand its services…

Changpeng Zhao, also known as CZ, has been handed a 4-month prison sentence by a U.S. District Court in Seattle on Tuesday. The Binance founder pleaded guilty to anti-money money-laundering violations last year and had to step down from his role as CEO of Binance as part of a substantial…

Chowdeck, one of Nigeria’s leading on-demand delivery service, announced the successful closure of a $2.5 million seed funding round. This significant investment injection marks a pivotal moment for Chowdeck as it accelerates its mission to optimize operations and expand its footprint across more cities in Nigeria. With Nigeria’s on-demand delivery…

In an exciting development, OpenAI has announced a strategic partnership with the Financial Times, marking its first major collaboration with a UK news publisher. The agreement will see OpenAI incorporating attributed content from the Financial Times into its ChatGPT responses, providing users with access to summaries, quotes, and links from…