Author: Akin Naphtal

The winds of change are sweeping through the South African commercial space, heralding the digital transformation era. The relentless march of technology is reshaping industries, redefining workflows, and presenting unprecedented opportunities for businesses to thrive in the digital age.Navigating the digital realm: Asus’ role in South Africa’s business evolution Asus stands at the forefront of this transformative journey, offering cutting-edge solutions that empower South African businesses to embrace the digital future. Ongoing digital transformation in South Africa From Cape Town to Johannesburg, businesses embrace technology to drive innovation, enhance efficiency, and gain a competitive edge. This transformation is not a…

Telecommunications giants MTN Nigeria has informed subscribers that any sim without the National Identity Numbers (NINs) will be barred from using the network on or before 28 February, 2024. MTN, in a statement issued by Uto Ukpanah, Company Secretary, said the move is part of an industry-wide directive that requires phone lines for which the subscribers have not submitted their NINs to be barred on or before 28 February MTN informed investors that, it has “received a formal directive from the NCC to implement full network barring on all phone lines for which the subscribers have not submitted their national…

The US Securities and Exchange Commission (SEC) has filed charges of insider trading, providing false information to auditors, and violations of internal controls, among others, against Tingo Group Inc, Agri-Fintech Holdings Inc and Tingo International Holdings Inc. The American financial supervisory body also hit Tingo Group CEO, Dozy Mmobuosi, with charges of fraud. The legal action comes after US short seller, Hindenburg Group published a damning report in June labeling Tingo Group as an “exceptionally obvious scam with completely fabricated financials.” The report alleged that Tingo falsified information regarding partnerships, projects, and expansions. Despite Tingo Group denying the allegations, the…

Kenya’s leading money platform, M-PESA, is introducing physical plastic cards as it moves from its previous provision of virtual cards called GlobalPay, which faced limitations in acceptance at physical shops due to the populace’s preference for cash transactions. The virtual cards were primarily designed for online purchases from platforms like Netflix and Amazon, but have faced challenges with reliability and fraud risks. In contrast, physical cards are considered more secure. However, Kenya has been lukewarm toward plastic payment methods, with only 6.35% of adults using credit cards and 22% opting for debit cards. M-PESA, with an impressive 97% market share…

Three weeks after Kenya startup, Twiga, closed a funding round to address debts and pay suppliers, there has been news about the nature of the funding, with reports from TechCabal indicating that the agritech startup secured a $35 million convertible bond. The bond is a form of debt that pays interest but can also be converted into equity. The funds were raised from Creadev and Juven, two private equity investors who had previously invested in Twiga. Twiga, which connects farmers with food vendors, has previously faced some financial challenges and was even sued by cloud service vendor Incentro, which sought…

The government of Rwanda, disclosed this week it has signed a host agreement for the African Pharmaceutical Technology Foundation (APTF) –a pan-African agency aimed to promote technological use in the medical ecosystem of the continent. The institution set up and approved by the African Development Bank (AfDB) Board of Directors in June 2022, at the request of African Union member states comes as a dedicated institution to boost Africa’s access to technology for manufacturing the full range of pharmaceutical products. It will work to promote technology access and transfer, facilitate technological upgrading of relevance to the pharmaceutical sector for Africa,…

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…