Author: Akin Naphtal

INNGEN Tech, a leader in remote IT services has announced the opening of its new office in Tse-Addo a suburb of Ghana’s capital Accra to connect Africa’s top IT talent with global clients. With this move, the company hopes to employ 1,000 of the nation’s best IT specialists in the medium term. It has welcomed over 40 more talented young professionals to its team and has set a goal of having 100 employees by the end of the year. This will prepare the ground for hiring more than 1,000 young IT specialists in five years. INNGEN connects top tech talents…

Nigerian fintech giant, Flutterwave, has been granted reprieve in Kenya after the country’s high court permitted the Asset Recovery Agency (ARA) to withdraw a money laundering and fraud case against the payments company. The ARA, tasked with investigating and recovering proceeds of crime, initiated the case in August 2022, freezing $3 million linked to Flutterwave, as well as Hupesi Solutions and Adguru Technology Limited. The ARA withdrew the case on the grounds that further investigations revealed that Flutterwave was uninvolved in criminal activities such as money laundering and fraud. The judge, in his ruling, stated, “after considering all the facts…

International transportation network company, Bolt, has announced that as of December 7, 2023, Nigerians will no longer have access to its Bolt Food platform, as the company seeks to optimise resources and enhance overall efficiency. Bolt’s decision to withdraw from the Nigerian market reflects the challenging macroeconomic landscape that facing food delivery businesses in the country. Fuel price hikes have significantly impacted the sector, prompting logistics startups like Bolt to implement increases in delivery fees ranging from 20% to 50%. Nigeria’s fuel price surge, which reached a staggering 215% after President Bola Tinubu’s removal of subsidies in May 2023, has…

For its fifth showing, the Next Fintech Forum (NFF), among the largest fintech events in Francophone Africa, has been scheduled for 16th and 17th November at the Radisson Blu Hotel in Abidjan, Cote d’Ivoire. The forum, themed “Fintech and Commerce: How Fintech will shape commerce in Francophone Africa,” aims to attract innovators, big tech companies, and investors, to francophone Africa while fostering the development of Digital Financial Institutions (DFIs) to enhance financial inclusion. Speaking on the theme, founder and director of Next Fintech Forum, Alex Sea, stressed the goal of creating an inclusive and multi-stakeholder environment for reflection. “We want…

Nigerian fintech giant, Flutterwave, has been granted an International Money Transfer Operator (IMTO) licence by the Reserve Bank of Malawi, allowing Flutterwave to process international payments into Malawi while focusing primarily on remittances. Malawi’s remittances market has grown steadily since 2016, and currently constitutes 2% of the country’s GDP, according to data from the World Bank. With over 200,000 Malawians residing and working abroad, the market presents Flutterwave an opportunity to tap into the expanding international remittances sector. Flutterwave CEO, Olugbenga Agboola, has expressed gratitude to the Reserve Bank of Malawi for granting the IMTO licence, stating, “we are grateful…

The US arm of the Industrial and Commercial Bank of China (ICBC) has fallen victim to a ransomware attack which disrupted trades in the US Treasury market on Thursday 9th November, joining the string of victims targeted by cybercriminals in recent months. The attack was confirmed by ICBC Financial Services, the US unit of China’s largest commercial lender, with the unit adding that investigations were currently underway to discover the attack’s origin. The disruption, which experts say was caused by cybercrime gang, Lockbit, marks a concerning trend of increasing boldness by ransomware groups targeting even major financial institutions. Lockbit, known…

YouTube’s recent decision to ban ad blockers on its platform has sparked backlash from privacy advocates in Europe who claim that the move violates the region’s data protection laws. A privacy expert, Alexander Hanff, has filed a complaint with the Irish Data Protection Commission (DPC), arguing that YouTube’s adblocker detection system is a form of spyware that requires user consent. Adblockers are software tools that prevent websites from displaying ads to users, thus improving browsing experiences and protecting user privacy. However, YouTube, which relies on ads for its revenue, has been cracking down on adblockers by blocking access to its…

Kenya’s Cabinet Secretary for the Ministry of Information, Communication and the Digital Economy, Hon. Eliud O. Owalo has been adjudged the Digital Economy Personality of the Year at the 8th Africa Digital Economy Awards (ADEA) 2023, held on 10th November, at the Emara Ole Sereni Hotel in Nairobi, Kenya. The Digital Economy Personality of the Year is in recognition of his impeccable role in driving digitalization in Kenya as well as his role as CS for the Ministry of Information, Communication and the Digital Economy which has birthed several initiatives and innovations making Kenya a digital hub in the continent. Hon…

In a bid to re-enter the Chinese market, Meta Platforms has reportedly entered a deal with Chinese technology company, Tencent Holdings, to introduce a new, affordable virtual reality (VR) headset in China. This marks the Facebook and Instagram parent company’s return to a market where it had taken a 14-year hiatus, a repor by the Wall Street Journal said. The Wall Street Journal also cited sources saying Tencent will be the exclusive seller of Meta’s new VR headset in China, with sales expected to commence in late 2024. The deal presents Meta with an opportunity to compete with TikTok owner,…

The eighth edition of the Africa Digital Economy Awards (ADEA) is set to be held tonight at the Emara Ole Sereni Hotel in Nairobi, Kenya, marking its first-ever showing in Kenya, and outside of West Africa. Themed “Celebrating Digital Excellence,” ADEA 2023 seeks to honour Africa’s digital champions, innovators, creatives, and inventions that have significantly shaped the digital growth and security of the continent’s digital economy. Powered by Digital Economy Magazine, a publication of ISO-certified InstinctWave Group, the awards event acknowledges and celebrates the transformative impact of digital innovations across multiple African sectors. ADEA also aligns with the African Union’s…