Author: Smart Megwai

The National Information Technology Development Agency (NITDA) and the Japan International Cooperation Agency (JICA) have underscored their commitment to positioning Nigeria as a global tech hub through the successful culmination of the third cohort of the iHatch Startup Incubation Program. The program, designed to cultivate a vibrant tech ecosystem, has…

The ongoing detention of Tigran Gambaryan, a senior executive at Binance, has reached a critical juncture as his health continues to deteriorate rapidly. Arrested in February on charges of financial misconduct—charges that were later dropped in June—Gambaryan remains in custody under conditions that have sparked international outrage. Mondo-Advisory, the communications…

Technology giant Cisco is poised to undertake a second wave of significant job cuts this year, with thousands of employees expected to be affected. The networking equipment maker is reportedly shifting its focus towards higher-growth sectors, including cybersecurity and artificial intelligence. According to multiple sources familiar with the matter, the…

TikTok has initiated layoffs affecting its African workforce as part of a broader company restructuring. The popular short-video platform, owned by ByteDance, is streamlining operations amid economic challenges and increased regulatory scrutiny. This development follows previous announcements of global job cuts. While specific details about the extent of the job…

A historic milestone was achieved as the African Union Executive Council launched the Continental Artificial Intelligence (AI) Strategy. This ambitious blueprint outlines a roadmap for the adoption and integration of AI technologies across all sectors of African economies.   Approved during the AU Executive Council’s 45th Ordinary Session in Accra,…

The West African Examinations Council (WAEC) has officially released the results for the 2024 WASSCE! While this is undoubtedly exciting news for candidates, the rush to check results has overwhelmed the WAEC website. Let’s break down how to check your results and offer some tips to navigate the process smoothly.…

TikTok, a leading platform for entertainment discovery, has introduced TikTok Spotlight to help studios connect directly with fans and boost ticket sales. Spotlight transforms casual viewers into eager ticket buyers by providing interactive landing pages accessible through special links in TikTok videos. These landing pages offer a comprehensive experience, including…

China has fired the opening salvo in what promises to be an intense competition in the realm of satellite-based internet services. A state-owned enterprise, Shanghai Spacecom Satellite Technology (SSST), successfully launched the first batch of satellites for its ambitious “Thousand Sails Constellation” project, as reported by the China Securities Journal.…

Elon Musk has reignited his legal battle against OpenAI and its CEO, Sam Altman, alleging a breach of the company’s founding principles. This latest legal action, filed in early August 2024, claims that OpenAI has deviated from its original mission to develop artificial intelligence for the benefit of humanity and…

Africa Data Centres (ADC), a subsidiary of Cassava Technologies, has unveiled a major expansion project at its CPT1 facility in Cape Town, South Africa. Armed with a $500 million investment, the company aims to solidify its position in the burgeoning African data center market, projected to reach US$5 billion by…

Intron Health, a Nigerian AI startup specialising in speech-to-text transcription tools for healthcare workers, has successfully raised $1.6 million in a pre-seed funding round. The investment will enable the company to expand its workforce, intensify its research activities, and enhance its cloud-native and on-premises capabilities. The funding round for Intron…

Ticketmaster, a subsidiary of Live Nation Entertainment, has announced the acquisition of Quicket, a major ticketing platform based in South Africa. This strategic move marks a significant step in Ticketmaster’s expansion into the African market. Quicket, known for its strong presence in South Africa and other African countries, will now…

Bamidele Omotosho, a 42-year-old Nigerian national, has been sentenced to 12 years and 7 months in federal prison for his involvement in a significant cyber scam in the United States. The sentencing, announced by the U.S. Attorney’s Office for the Middle District of Florida, marks the conclusion of a high-profile…

TikTok has introduced an exciting new feature that integrates Eventbrite, a top event management and ticketing platform, into its app. This new partnership allows content creators to promote and sell event tickets directly through TikTok, transforming digital event marketing and ticket sales. Starting today, TikTok users can add Eventbrite links…

Risevest, a prominent Nigerian wealth management platform, is reportedly planning to acquire Hisa, a Kenyan fintech startup that allows users to invest in US stocks. This strategic move is aimed at expanding Risevest’s operations into the Kenyan market, marking its second acquisition after purchasing Chaka, a digital trading startup, in…

East Libya’s economy is facing severe disruption as counterfeit banknotes, reportedly originating from Russia, flood the market. The influx of these fake currencies has not only devalued the Libyan dinar but also amplified economic instability in a region already grappling with significant challenges. The Central Bank of Libya has raised…

Meta Platforms Inc., has announced the removal of 63,000 accounts linked to the infamous “Yahoo Boys” scam group. This crackdown, detailed in a Meta’s Q1 2024 Adversarial Threat Report titled “Combating Financial Sextortion Scams From Nigeria”, targets accounts involved in financial sextortion scams and the dissemination of blackmail scripts. Over…

Diamond Trust Bank (DTB), a leading financial institution in East Africa, has joined forces with Network International, the region’s largest enabler of digital commerce, in a strategic partnership aimed at accelerating digital payment transformation in Kenya. This collaboration marks a significant step towards enhancing DTB’s digital capabilities and expanding its…

Kenyan-based social enterprise One Acre Fund has received a $1.4 million investment to help smallholder farmers in East Africa. The funding is from Impact Bridge Asset Management, a Spanish fund manager focused on social impact investing, through its IB Impact Direct Debt fund, which totals $54.4 million (€50 million). This…

The Financial Sector Conduct Authority (FSCA) of South Africa has recently issued a critical warning regarding a fraudulent Telegram channel that is misleading the public by impersonating the Old Mutual Limited Group. This alert comes as part of a broader effort by the FSCA to combat financial fraud and protect…