Author: Akin Naphtal

Amid concerns of Chinese short video platform, TikTok, potentially shutting down in the United States (US), former Activision CEO, Bobby Kotick, is reportedly aiming to purchase the popular social media platform. TikTok, owned by China-based parent company ByteDance, has faced scrutiny from US lawmakers over fears of data privacy and national security risks associated with its Chinese ownership. With new legislation looming that could force ByteDance to sell TikTok or face closure, Kotick has emerged as a potential buyer. Reports from the Wall Street Journal indicate that Kotick has approached ByteDance founder, Zhang Yiming, to express his interest in acquiring…

Nigerian fintech, PalmPay, has unveiled two financial products, namely, Unlimited Free Transfer and Target Savings to cater to the needs of its app users in its bid to foster financial inclusion across Nigerian communities. With the introduction of these financial features, PalmPay users can now benefit from unlimited free transfers to all banks in Nigeria and personalise their savings strategy according to their specific preferences regarding amount, duration, and frequency. The Unlimited Free Transfer feature, spearheaded by PalmPay Nigeria’s Managing Director, Chika Nwosu, aims to provide accessible and cost-effective financial services to users, allowing them to conduct transactions without being…

Nigerian AI-powered startup, BFREE, has secured $2.95 million in a funding led by Capria Ventures, a venture capital firm specialising in applied generative AI solutions across emerging markets. The funding round marks a major milestone for BFREE, which seeks to pioneer customer-centric solutions for borrowers and lenders in Africa. Founded in 2020 by Julian Flosbach, Chukwudi Enyi, and Moses Nmor, BFREE initially focused on automating credit collections through AI-powered software. The company has since evolved into a comprehensive platform that evaluates and acquires non-performing loan portfolios from banks and fintechs, thereby opening new avenues for global funds seeking exposure to…

Telecom giants MTN and Airtel have increased investments in infrastructure across Nigeria, to help Nigerian consumers transition to 4G and 5G networks, with MTN Nigeria’s CEO, Karl Toriola, noting a surge in the deployment of 4G and 5G sites across the country. MTN Nigeria reported a 2.7% increase in the number of 4G sites, resulting in a rise in 4G adoption from 79.1% to 81.5% among its customer base. Moreover, the company witnessed growth in its 5G infrastructure, with the number of 5G sites climbing from 588 to 2,106, boosting 5G usage from 3.1% to 11.3%. Airtel has also launched…

Consumer-focused startup, Inflection AI, has announced that its chatbot, Pi, has surpassed a million daily active users, while also unveiling an upgrade to the artificial intelligence (AI) powering the tool to enhance its capabilities and competitiveness in the market. Pi, introduced in May 2023, leverages generative AI technology to engage users in conversations, enabling them to ask questions and share interests. With its intuitive interface and advanced AI capabilities, Pi has rapidly gained popularity among consumers, evident in its milestone achievement of surpassing 1 million daily active users. Inflection AI’s latest offering, Inflection-2.5, is positioned to rival existing models such…

LinkedIn the premier social network targeting business professionals, has revealed the sales figures for its premium subscription business for the first time, reporting revenue of $1.7 billion in 2023. LinkedIn had not previously provided a breakdown of its financial performance since its acquisition by Microsoft in 2016. The company’s overall fiscal performance for 2023 was previously disclosed at $15 billion, with $7 billion attributed to its hiring software sold to corporate recruiters. However, in recent years, LinkedIn has been expanding its premium subscription business, catering to job seekers and individual users, with subscription plans starting at $39.99 per month. A…

RS South Africa, a trading brand under renowned global provider of industrial product and service solutions, RS Group plc, has announced the expansion of its RS PRO electronics engineering range. This expansion introduces 1,900 new products spanning across 20 technologies, offering a diverse array of high-quality electronics components, from industrial connectors to cutting-edge test and measurement equipment. Designed specifically for professionals engaged in research and development, PCB development, equipment and machinery design, and production line engineering, the expanded electronics engineering range is proof of RS PRO’s dedication to delivering top-tier components and precision measuring instruments. RS PRO has earned a…

South Africa’s Department of Justice has convened a special meeting at MultiChoice South Africa’s offices under the sponsorships of Partners Against Piracy (PAP), in a concentrated effort to combat content piracy, At the meeting, PAP and the South African Government unveiled a new cooperation agreement through a Memorandum of Understanding (MoU). The MoU aims to foster collaboration in capacity building, benchmarking, intellectual property rights protection, and training within the legal framework. Advocate Doctor Mashabane, Director General of the Department of Justice and Constitutional Development (DOJ&CD), stressed the government’s commitment to protecting the creative industry from piracy, which drains billions of…

Cassava Technologies’s Liquid C2, has collaborated with global tech giant, Google Cloud, and artificial intelligence (AI) firm, Anthropic, to deliver cloud solutions, cybersecurity measures, and generative AI capabilities to businesses across Africa. After signing a Memorandum of Understanding (MOU) with Google Cloud in November 2023, Liquid C2 is poised to enhance cybersecurity and cloud services throughout the continent by integrating Google Cloud’s latest AI, data, collaboration, and security solutions. Through this, Liquid C2 seeks to provide heightened security measures and access to advanced cloud technologies for its customers. As one of Google Cloud’s largest Managed Security Service Providers (MSSPs) in…

Energy company, GE Vernova, which has been driving Nigeria’s energy sector for over a century, has reaffirmed its commitment to continue bolstering the nation’s sustainable energy transition. GE Vernova recently hosted the “Nigeria Energy Dialogue,” aiming to address issues on Nigeria’s energy transition, especially spanning generation, transmission, distribution, and consumption. Participants, which included governmental officials, financiers, and industry leaders, explored policy frameworks, technological innovations, and potential collaborations to foster a sustainable energy ecosystem. Managing Director of Services – SSA at GE Vernova’s Gas Power, Kenneth Oyakhire mentioned the company’s long-term relationship with Nigeria, adding that GE Vernova is “committed to…