Author: Akin Naphtal

Amazon has launched its first pair of prototype satellites into space for its planned Kuiper internet network, as the e-commerce company positions itself to beam internet service globally and compete with SpaceX’s Starlink. The prototype satellites were launched from Cape Canaveral, Florida last Friday, 6th October. The company plans to deploy over 3,000 more Kuiper internet network satellites into orbit over the next few years. Rival, SpaceX plans to launch 5,000 satellites. The launch live stream was hosted by the United Launch Alliance, but did not show the deployment of the satellites. Amazon later said the two satellites had deployed…

Tech investors and analysts say Israel’s technology sector could face setbacks following Sunday’s attack from militants from Palestine group, Hamas, which left hundreds dead, and saw Israel’s stock and bond prices deflating. High-tech industries have, in recent decades, been the fastest growing sector in Israel. These companies have been crucial for economic growth, accounting for 14% of jobs and almost a fifth of gross domestic product. The Hamas attack has, however, disrupted this growth. “It is a huge disruption to business as usual,” chief investment officer and founding partner at US company, Cresset Wealth Advisors, Jack Ablin, said. He added…

Apple has reportedly held discussions with DuckDuckGo to potentially replace Google as the default search engine for the private mode on Apple’s Safari browser. The details of these talks are expected to be made public later this week, following a ruling by judge Amit Mehta in a federal antitrust suit against Google. Mehta has decided to unseal the testimony of DuckDuckGo CEO, Gabriel Weinberg, and Apple executive, John Giannandrea. The discussions between Microsoft and Apple, as well as DuckDuckGo and Apple, will also be revealed, as stated in Mehta’s order. Apple, DuckDuckGo, and Google have not yet responded to a…

Canadian technology company, BlackBerry, has announced plans to separate its internet of things (IoT) and cybersecurity business units, as it looks to pursue a subsidiary initial public offering for the IoT business in the next fiscal year. This move follows a trend among companies in recent years, as they opt for a more streamlined corporate structure to enable investors to assess their individual businesses more effectively. Notable examples include the recent spinoff of the packaged food giant formerly known as Kellogg, as well as the spinoffs by health-care giant Johnson & Johnson and industrial conglomerate General Electric. BlackBerry CEO, John…

The Competition Commission has stated that Webafrica can acquire rival, Mweb, but must first address public interest concerns by implementing an employee share ownership program and a transaction involving historically disadvantaged individuals. Specific details on how these schemes will be implemented have, however, not been provided. Dimension Data, which owns Mweb, has been attempting to sell the Mweb business since 2021. The commission has determined that the acquisition is unlikely to result in a significant reduction in competition in relevant markets. Webafrica’s Managing Director, Sean Nourse, has confirmed the deal and stated that it will double the company’s workforce without…

ChatGPT creator, OpenAI, has begun exploring ways of making its own artificial intelligence chips, going as far as evaluating a potential acquisition target. According to recent internal discussions, the OpenAI has not yet decided to move ahead with its plan, however, it has discussed various options to solve the shortage of expensive AI chips that it relies on. Sources from OpenAI say the options discussed include the company working more closely with other AI chip developers including Nvidia to build its own AI chip, and also diversifying its suppliers beyond Nvidia. Demand for specialized AI chips has soared since the…

In response to increased levels of load shedding, MTN South Africa has implemented measures to reduce the impact, including the deployment of 20,000 batteries and nearly 900 generators in its network. The company had previously announced an investment of between R4.5 billion and R5 billion to safeguard its network from the unreliable power supply from Eskom. MTN South Africa also highlighted that crime and vandalism remain ongoing issues that hinder their ability to provide uninterrupted services. MTN South Africa CEO, Charles Molapisi, explained that despite a temporary decrease in load shedding during the second quarter of 2023 compared to the…

The pricing for music streaming services in South Africa has remained relatively unchanged since Simfy Africa first entered the market over a decade ago. However, this is starting to shift as the industry has evolved and international players like Apple, YouTube Music, Spotify, Tidal, and Deezer have become dominant. Despite the depreciation of the rand against major currencies, these streaming services have maintained a monthly fee of only R60 for unlimited access.To counter the impact of a weaker rand on their earnings, other international software-as-a-service companies have frequently and significantly raised their prices, often surpassing inflation rates. Adobe Creative Cloud,…

Mastercard and Equity Bank Uganda have joined forces to enhance financial inclusion for individuals, communities, and businesses in Uganda who lack access to digital services. Equity Bank plans to utilize Mastercard’s Community Pass solution to issue financial inclusion cards, which will serve as a secure means for individuals to save and spend both online and offline. Daniel Huba, Vice President of SSA Market Development, Community Pass at Mastercard, has expressed excitement about the partnership and its potential to drive digital visibility, financial inclusion, credit building opportunities, and access to digital services for marginalized populations. The Community Pass credentials issued by…

Nigerian billionaire, Aliko Dangote, and the founders of Carlye Group, have launched the Alterra Capital Partners fund, which aims to raise up to $500 million, While larger private equity firms have scaled back their investments in Africa, smaller firms like Alterra are capitalizing on the growing number of start-ups in sectors such as telecommunications, technology, logistics, healthcare, consumer, and retail. Genevieve Sangudi, who is a partner at Alterra Capital Partners, stated in an interview that now is a great time to invest in Africa due to the favorable macro themes. She noted that the new Africa-focused fund, has already secured…