Author: Akin Naphtal

Shanghai authorities, in a meeting with Microsoft President and Vice Chair, Brad Smith, have expressed their desire for Microsoft to play a role in advancing artificial intelligence (AI) technology to stimulate local businesses. Shanghai’s Communist Party Secretary, Chen Jining, conveyed the message during the meeting noting the importance of Microsoft’s involvement in promoting AI technology to enhance the local business landscape in the Chinese financial hub. In addition to encouraging AI promotion, Shanghai authorities expressed openness to collaboration with Microsoft on the study and development of technology-related governance frameworks and standards. This could create an avenue for establishing guidelines and…

After gaining a foothold in Eastern Europe in 2020, SME lending business, Lidya, has decided to close its operations in Poland and the Czech Republic, as it redirects its efforts towards the Nigerian market. Co-founded by Jumia co-founder, Tunde Kehinde, the seven-year-old company has a particular focus on Lydia Collect, a loan recovery tool that initially served its in-house SME lending business but has since become a central element of Lidya’s new business direction. Lidya Collect, developed on the foundation of Nigeria’s Global Standing Instruction (GSI) technology, serves as a tool for recovering loans. The GSI is a last-resort system…

InCoax Networks AB is pleased to announce the formalization of a Memorandum of Understanding (MoU) with Nokia. As part of the collaboration, Nokia will offer InCoax’s system-solution for Fiber Access Extension within Nokia’s Gigabit Connect portfolio. The joint offering will target the global broadband operator market, in particular MSOs and cable operators. The aim is to commence deliveries through Nokia in the second half of 2024. The recently signed agreement establishes terms and guidelines for the global delivery of InCoax’s MoCA AccessTM-based solutions, designed for Fiber Access Extension with multi-gigabit performance over coaxial cable networks in multi-dwelling units (MDUs). This…

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa has called on the government of Japan to leverage on the youthful population through strategic talent partnership that will nurture and build a workforce that can be exported. According to Inuwa, he stated this at the Ihatch startup incubation programme 2nd cohort demo day and 3rd cohort opening ceremony organised by the subsidiary of the agency, Office for Nigerian Digital Innovation (ONDI), in partnership with Japan International Corporation Agency (JICA) in Abuja. The 5-month free intensive incubation programme executed by the ONDI and hosted within the National…

The Nigerian Copyright Commission and the Nigeria Customs Service have agreed to strengthen their collaboration to develop new anti-piracy strategies to encourage creativity and boost the country’s creative economy, Following the statement released, it revealed the agreement was reached during a courtesy visit by the Director-General, NCC Dr John Asein, to the Comptroller-General of Customs, Bashir Adeniyi, at the NCS Headquarters recently. During the visit, the heads of both agencies acknowledged the strategic importance of intellectual property, particularly copyright, to the growth of the country and noted the devastation caused by the activities of copyright pirates in the sector. Motivated…

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…