Today, amidst the usual April 1st pranks, Nigerian fintech startup Thepeer announced its closure. This news comes as a surprise to some, but a sobering reminder of the challenges faced by innovative startups in Africa’s developing financial landscape. Thepeer’s mission was ambitious – to create a seamless way to transfer…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
OpenAI announced that it has now enabled users to start using ChatGPT without an account. This means that instead of the usual practice of creating an account before using ChatGPT, you can now start experiencing the benefits of Artificial Intelligence instantly. OpenAI made this known via a blog post today,…
OpenAI, a research company known for its work in artificial intelligence, announced that it has made significant strides in developing a new system called Voice Engine. This system utilizes a combination of text input and a brief audio sample to generate realistic-sounding speech that closely resembles the original speaker’s voice.…
Tech giant, Mastercard, has unveiled two groundbreaking products in partnership with Zenith Bank: the Mastercard Naija Card and the World Elite Credit Card. These innovative payment solutions are poised to address the diverse financial needs of Nigerians while accelerating financial inclusion in the country. The Mastercard Naija Card is designed…
Sam Bankman-Fried, once hailed as a visionary entrepreneur in the cryptocurrency world, has been sentenced to 25 years behind bars. U.S. District Judge Lewis Kaplan delivered the sentence in a Manhattan court after rejecting Bankman-Fried’s claim that FTX customers did not suffer financial losses and finding that he had lied…
The cryptocurrency exchange KuCoin, renowned for its global presence, has found itself entangled in legal turmoil as federal prosecutors in Manhattan charge it with violating U.S. anti-money laundering laws. This development marks a significant juncture in KuCoin’s journey, raising questions about regulatory compliance and customer safety in the cryptocurrency sphere.…
The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a powerhouse in the global banking network, has unveiled plans to usher in a new era of digital finance. With central bank digital currencies (CBDCs) gaining traction worldwide, SWIFT is taking the lead in developing a platform to seamlessly integrate CBDCs into…
Africa Finance Corporation (AFC), one of the leading infrastructure solutions provider on the continent, has announced the successful closure of its largest ever debt facility—a US$1.16 billion syndicated loan. This landmark transaction, celebrated at an event in Dubai, represents a pivotal moment for AFC as it reinforces its commitment to…
Sprints.ai, a pioneering AI-powered edtech firm at the forefront of reshaping the future of education, has recently announced the successful closure of a $3 million bridge fundraising round. This round saw investments from prominent backers including EdVentures and CFYE, among others, marking a significant milestone for the company’s growth trajectory.…
The Federal Inland Revenue Service (FIRS) in Abuja has commenced legal proceedings against the cryptocurrency exchange Binance and its detained executives, Nadeem Anjarwalla and Tigran Gambarya, citing four instances of alleged tax evasion. This announcement was made in a statement released on Monday. This development is occurring against the backdrop…
In a bid to catalyze innovation and entrepreneurship in Africa’s burgeoning tech ecosystem, the International Finance Corporation (IFC) has announced a $10.5 million investment in 4DX Ventures, a New York-based venture capital firm specializing in early-stage African technology companies. The investment, facilitated through IFC’s $225 million venture capital platform launched…
As a veteran of the product development trenches for over three decades, I’ve witnessed the evolution of methodologies firsthand. Back in the day, Stage-Gate reigned supreme – a structured, linear approach that brought order to the chaos of bringing new ideas to life. But times have changed. The market is…
As Spotify continues to expand its reach beyond music streaming and podcasting, the company is now venturing into the world of e-learning, offering a new line of content aimed at educating its vast user base. The move comes as Spotify aims to increase user engagement and drive revenue growth, tapping…
In a landmark collaboration aimed at enhancing access to remittances throughout Africa, Coronation Group, Access Holdings Plc, Safaricom Plc, and M-PESA Africa have joined forces to create a strategic alliance dedicated to fostering financial inclusion and economic prosperity across the continent. The partnership seeks to explore solutions that will establish…
In a thrilling culmination of innovation and entrepreneurship, Koa Academy emerged victorious as the grand prize winner of the 2023 MEST Africa Challenge (MAC), marking a significant milestone in Africa’s tech ecosystem. MEST Africa, a leading Pan-African tech entrepreneurship training program, seed fund, and incubator, proudly announced Koa Academy as…
In a recent email to Microsoft employees, Chief Executive Officer Satya Nadella announced an exciting organizational update, reflecting the company’s commitment to advancing in the field of artificial intelligence (AI). As Microsoft enters its second year of the AI platform shift, the focus remains on bold innovation and pushing boundaries.…
Ethiopia’s banking sector faced a major setback recently when the country’s largest bank, the Commercial Bank of Ethiopia, encountered a technical glitch that allowed customers to withdraw more money than was available in their accounts. The aftermath of this incident has left the bank scrambling to recover over $40 million…
Access Holdings, the parent body of Access bank, has announced plans to acquire the National Bank of Kenya. Access is buying the bank from Kenya’s KCB Group who incidentally bought the bank in a rescue deal engineered by the central bank in 2019. This is the second bank acquisition in Kenya…
The Competition Authority has slapped a hefty fine of 250 million euros on Alphabet Inc, Google LLC, Google Ireland Ltd, and Google France, collectively known as “Google.” This fine comes as a consequence of Google failing to uphold specific commitments mandated by Decision 22-D-13, issued on June 21, 2022. It’s…
Moulaye Taboure, CEO and Co-Founder of ANKA, has announced that Afrikrea, the marketplace, is shutting down after 10 years of operation. He made this known in a video on social media. According to him, “This is the end of Afrikrea … Your support has meant everything, so thank you for…