Author: Akin Naphtal

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…

Microsoft CEO, Satya Nadella, has expressed concerns about tech giants competing for extensive content required to train artificial intelligence, specifically criticizing Google for securing costly and exclusive agreements with publishers, effectively monopolizing content. Amid the ongoing U.S. trial against Google, Nadella drew parallels between these efforts and the initial stages of distribution deals. This trial marks a significant antitrust case for the U.S., reminiscent of the one filed against Microsoft in 1998. The U.S. Justice Department’s antitrust battle against Google revolves around distribution agreements, which are seen as the central issue. According to the government, Google, which holds around 90%…

Visa has launched a $100 million venture fund to support start-ups in the field of generative artificial intelligence, following major technology players like Microsoft and Google, who have also invested in the AI sector. The popularity of OpenAI’s ChatGPT has contributed to the growing interest in AI, and has spawned an AI model race, where giant tech corporations try to outdo each other by developing their own AI models. Visa’s chief product and strategy officer, Jack Forestell, in a statement revealed that he believes that generative AI has the potential to revolutionize commerce and therefore it is important to understand…

Fortinet, a leading global cybersecurity company, has recently joined the United Nations Global Compact (UNGC) initiative, which serves as a voluntary platform for businesses to develop, implement, and disclose responsible practices. In addressing pressing societal challenges such as climate change, cybercrime, and the long-term effects of the pandemic, it is crucial that the private sector, NGOs, and governments collaborate. Fortinet is dedicated to playing its part in creating fair, secure, and sustainable societies. Fortinet’s senior vice president and global head of sustainability, Barbara Maigret, explained that by becoming a member of the UNGC, Fortinet has demonstrated its commitment to adhering…

Meta Platforms has begun working towards introducing ad-free subscription plans for Instagram and Facebook users in Europe. A source from the company stated that several pricing plans have been discussed, but the 10 euros ($10.49) per month plan is the most feasible. Another source revealed that the subscription plan will be implemented in the coming months. The proposal is Meta’s attempt to comply with European Union regulations that threaten its ability to personalize ads for users without their consent, ultimately hurting its major revenue source. The company believes offering users a choice between a free, ad-supported plan and a paid…