Author: Akin Naphtal

Cubic Telecom, the Dublin-based connectivity software firm, has announced it received a €473m investment from the Japanese mega-investor, SoftBank, valuing the firm at €927.4m. In one of the biggest ever investment deals for an Irish firm, Softbank will receive a 51pc share in the company with current investors selling down to retain the other 49pc. The deal, which is expected to close in the first half of 2024, represents a significant return for the pre-existing joint largest shareholder, CEO Barry Napier, as well as for Irish investors ACT and the Irish Strategic Investment Fund. Mr Napier will continue to be…

Music streaming giant Spotify, is gearing up to to layoff approximately 1,500 employees, constituting 17% of its workforce, following earlier layoffs of 600 staff members in January and an additional 200 in June. Affected employees will receive approximately five months of severance pay, vacation pay, and healthcare coverage for the severance period. Despite the workforce reduction, Spotify’s U.S.-listed shares surged by about 11%, reaching levels near their two-year high at $200.46 in early trading. Reuters reports that Spotify’s CEO, Daniel Ek, addressed a letter to the to employees, explaining that the company expanded its workforce in 2020 and 2021 due…

Covalensedigital, inq. Nigeria collaborates to transform MVNO Digital Services in Nigeria In a landmark move, Covalensedigital and inq. Digital Nigeria have entered into a partnership to transform Nigeria’s digital services for Mobile Virtual Network Operators (MVNOs). This collaboration ushers in a new era of digital agility and financial flexibility for MVNOs through a bespoke Software as a Service (SaaS) platform. The newly launched Digital Service Enablement Platform (DSEP) is set to be a game-changer for MVNOs of all sizes in Nigeria, offering the necessary agility, scalability, and cost-efficien­cy to thrive in a competitive market. Alongside the platform, MVNOs will benefit…

Austal USA Advanced Technologies is working with the US Navy on technical solutions that will power the next-gen of navy assets. Don Hairston recently took the helm of the AAT team, and discusses how additive manufacturing and artificial intelligence are powering the future of naval asset design, construction and lifecycle maintenance. Don, what specifically attracted you to the position as GM of Austal USA Advanced Technologies? I liked Austal USA as an up-and-comer; it offers tremendous growth opportunities. I also like the advanced technology aspect, especially in the additive manufacturing (AM) space. Our mission in AM is to support the…

ChatGPT parent company, OpenAI, has reportedly delayed the launch of its custom GPT store until early 2024, as revealed in an internal memo obtained by Reuters on Friday. Originally introduced during OpenAI’s inaugural developer conference in November, the custom Generative Pre-trained Transformers (GPTs) and their accompanying store were initially slated to launch later in the same month. However, the company has decided to extend the timeline to make necessary improvements to the GPTs based on valuable customer feedback. The GPTs represent early versions of artificial intelligence assistants designed to carry out real-world tasks, such as making flight reservations on behalf…

In a bid to facilitate seamless transactions for both payment and collection purposes in Nigeria and across Africa, ProvidusBank Limited has partnered with MasterCard to launch an innovative payment solution for business customers. Speaking at the launching of the new solution named Amphi card, the first of its kind in the Middle East and African continent, Mr. Walter Akpani, the Managing Director of the Bank, emphasized the institution’s commitment to innovation. He expressed gratitude to MasterCard for their partnership in the project, saying, “We want to pioneer new ways of doing things and that is not something we can do…

As the frequency and sophistication of cyber threats continue to rise globally, Ghana has witnessed a surge in efforts to combat cybercrime, notably with the establishment of the Cyber Security Authority (CSA) in 2020. Besides the CSA, the country has also seen multiple cybersecurity agencies pop up in recent years. The emergence of these cybersecurity entities reflects a growing recognition of the need to fortify digital defences and protect critical infrastructure. In the face of evolving cyber threats, Ghana’s cybersecurity agencies are each playing a role in safeguarding the nation’s digital landscape. This article speaks on the five leading cybersecurity…

The Digital Economy Magazine has named founder and CEO of Flutterwave, Olugbenga Agboola, as the Digital Economy Personality of the week for Nigeria (3rd to 9th December). Born in Lagos, Nigeria in 1985, Olugbenga Agboola had his early education in Nigeria before going overseas for further education. His educational background spans multiple prestigious academic institutions including the University of Westminster, MIT Sloan School of Management, Columbia Business School, and the EC-Council University where he received all standard IT security certificates. The knowledge and experiences that Mr Agboola gained at these institutions armed him with skills in network security, project planning,…

Leading telecommunications provider in Kenya, Safaricom PLC, has launched a new campaign dubbed ‘Feels Good to be Home,’ to promote the adoption of home internet solutions. The campaign showcases various fixed internet offerings along with value-added services to enhance the overall home experience for customers. In a press release published on 2nd December, the company noted that as part of the initiative, it has introduced revamped Family Share plans, integrating home fibre with mobile voice, data, and SMS into comprehensive packages. This enables customers to enjoy seamless connectivity both at home and on the go. Under the Family Share plans,…

Wakandi, a SACCO aggregator integrated, has entered into partnership with Airtel Money, the mobile money subsidiary of Airtel Africa with the Ministry of Trade, Industries, and Cooperatives. This strategic partnership is aimed at revolutionizing Uganda’s financial landscape by digitally transforming the informal economy. Speaking at the partnership launch, Espen Kvelland, Wakandi Group CEO, emphasized that the collaboration’s goal is to drive financial inclusion and transform Uganda’s informal economy. Also speaking, Japhet ARITHO, MD of Airtel Mobile Commerce (U) Ltd, spoke about Airtel Money’s commitment to addressing financial inclusion challenges through strategic partnerships and technological advancements. He elaborated on the impact…