Author: Staff Writer

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…

Kubik, a startup focused on plastic upcycling, has secured a $1.86 million seed extension, closing its $5.2 million seed funding round. It announced an initial raise of $3.34 million in June 2023. This significant milestone not only marks Kubik’s emergence as a key player in the climate and sustainability solutions…

Zipline, the pioneering force in drone logistics delivery, recently achieved a remarkable milestone: one million commercial deliveries completed. This feat marks a significant leap forward in the medical supply chain, particularly in Africa, where Zipline has established itself as a leader in life-saving drone deliveries. Founded in 2014 by Keller…

The US Senate’s recent passage of the “Protecting American User Data Act” (PAUDA) has thrown the future of TikTok, the wildly popular short-form video platform, into uncertainty. The bill, signed into law by President Biden on April 24th, 2024, forces TikTok’s parent company, ByteDance, a Chinese tech giant, to either…

In a recent development for renewable energy initiatives, Xlinks First Ltd. has announced a substantial investment of $14.1 million from Africa Finance Corporation (AFC), the premier infrastructure solutions provider on the African continent. This investment is set to propel the advancement of Xlinks’ ambitious Morocco – UK Power Project, aimed…

Introduction In the realm of database management, mastering SQL (Structured Query Language) is akin to becoming a ninja – agile, precise, and adept at manipulating data with finesse. While many may possess basic SQL skills, unlocking the full potential of database management requires delving into advanced techniques that can elevate…