Author: Akin Naphtal

Milestone Technologies, an IT services and digital solutions industry leader, announced the unveiling of its new logo and brand identity. This significant transformation is a testament to Milestone’s journey from a recognized services partner to a trailblazing innovator in the technology services sector, underscoring a deep-rooted commitment to exceptional client service and technological advancement. “At Milestone, we are driven by a vision to redefine the boundaries of what’s possible and a goal to consistently exceed client expectations,” said Sameer Kishore, CEO of Milestone Technologies. “Our new brand is a bold step forward, reflecting our agility and progressive approach to service…

Chinese-owned mobile money platform, OPay, has been singled out Nigerian Central Bank (CBN) for its lax identity verification processes, due to concerns growing about the ease with which fraudsters can exploit the platform’s security vulnerabilities. OPay employs a tiered verification system, ranging from tier 1 to 4, with users gaining access to a broader range of services as they provide more information, including a National Identification Number (NIN), a bank account number, or a bank verification number (BVN). Real-time facial verification is also required to confirm user identity. However, recent tests have shown significant weaknesses in the tier-1 account verification…

MTN Nigeria Communications Plc has completed its series 10 commercial paper issuance under its upsized N250 billion commercial paper issuance programme, the company disclosed. The company sent this in a recent notice to the Nigerian Exchange Limited and the investing public as reported. According to the statement signed by UtoUkpanah, the Company Secretary, the telecom giant said it sought to raise N72.1 billion and the offer recorded 149 percent subscription with N72.1 billion issued. In the statement; “The 266-day commercial paper was issued on November 29, 2023, at a yield of 16 percent. The CP issuance aligns with MTN Nigeria’s…

French multinational integrated energy company TotalEnergies and its partners have unveiled the construction of a major hybrid renewables project in South Africa, comprising a 216 MW solar plant and a 500 MWh battery storage system to manage the intermittency of solar production. Located in the Northern Cape province, the site will supply dispatchable renewable electricity to the South African national grid for twenty years, equivalent to over 400 GWh per year. Under the terms of a Power Purchase Agreement signed in November, and thanks to the storage system, the project will supply 75 MW of dispatchable power to the national…

Yoco has joined forces with MediaTek to point of sale terminal machines for small businesses across Africa. The collaboration has resulted in the creation of the Yoco Neo Touch range, a series of user-friendly card machines powered by MediaTek’s Genio series of Internet of Things (IoT) chipsets. The Yoco Neo Touch card machine, priced at R899, is designed to connect to 4G networks, offering unparalleled speed and unlimited data. It can process tap, chip and pin, and mobile payments in less than three seconds. With an all-day battery life, an intuitive touchscreen, and the capability to accept payments immediately upon…

Zambia’s government has begun distributing Starlink kits to the country’s 150 constituencies, with each constituency getting one kit, just two months after Starlink launched its satellite internet service in the nation. This move is part of the government’s desire to address Zambia’s dire state of internet access. The southern African country faces a challenging internet landscape, with a mere 21% penetration rate, leaving over 20 million people, particularly in rural areas, with poor or no access. The high cost of maintaining internet infrastructure has deterred many traditional internet service providers from reaching these remote populations. Starlink’s founder, Elon Musk, has…

Kenya launched a national e-commerce strategy on 13 December to fortify its position as a digital frontrunner in Africa by fostering inclusive and widespread utilization of trusted and secure e-commerce services based in the country. Its Ministry of Information, Communications and The Digital Economy and the Ministry of Trade, Investments and Industry spearheaded the strategy, supported by UNCTAD. “Kenya’s e-commerce strategy lays the foundation for trust-building among businesses and consumers, making e-commerce more accessible and beneficial for all, including marginalized groups,” said Shamika N. Sirimanne, director of technology and logistics at UNCTAD. “I would like to commend the government on the strong…

Kenya’s M-PESA, a widely-used mobile money platform with 51 million users, has partnered global digital payments giant, Visa, in a collaboration that will see M-PESA being introduced to physical debit cards, marking a departure from its previous virtual-only offerings. Previously, M-PESA users were limited to virtual cards, such as the GlobalPay powered by Visa, which could only be used for online purchases. The new physical debit cards will extend M-PESA’s reach into the cash-centric retail sector, presenting a pivotal shift for the platform that has been a leader in Kenya’s digital payments landscape. Credit and debit card usage is relatively…

Second-largest streaming platform in Africa, Netflix, has released its first biannual report detailing viewership patterns for the period from January to June 2023 globally, with the report covering over 18,000 titles and more than 100 billion hours of streaming. The report showed the first season of South African series, Unseen, topping the charts for Africa, and ranking 229th globally. Unseen has accumulated over 60 million viewing hours on Netflix so far. South Africa also dominated the top 10 most-streamed movies in Africa with eight representations, while Nigeria had two with Shanty Town and Far From Home ranking 750th and 2,088th,…

African e-commerce giant Jumia has announced the impending shutdown of its food delivery business, Jumia Food, by the end of 2023, as part of a broader cost-cutting initiative as the company focuses on core business segments with higher potential for profitability. With a reported loss of $19 million in Q3 2023, Jumia has been realigning its strategic focus under the leadership of CEO Francis Dufay, who assumed the role last year. Dufay cited challenging unit economics and substantial losses in the food delivery segment as key reasons for its closure. He also attributed the decision to increased competition and rising…