Author: Akin Naphtal

Hisa, a FinTech investment startup based in Kenya has announced Eric Jackson as the new CEO effective immediately. This comes after Eric Asuma, co-founder and former CEO, stepped down from his role to focus on a new venture in partnership with the online financial news publisher, the Kenyan Wall Street as reported by TechCabal. Eric Jackson previously led the product and innovation team at Hisa and has had previous executive roles and entrepreneurial ventures with MediaPal and Nano Digital. Part of a statement released by Hisa reads, “Eric Jackson brings a wealth of experience to his new role as CEO…

Some years ago, recall, in 2011, Visa, a global payments provider, announced that it was acquiring Fundamo, a South Africa-based platform provider of mobile financial services for mobile network operators and financial institutions in developing economies. According to the agreement, the deal, which was sealed at $110 million, had a primary strategy: to be Visa’s route to reaching the low-end consumer market in Africa. As at that time, Visa was doing well as a global payment card provider, but the majority of its consumers were in the middle-upper income range. Millions of people in the lower income bracket needed an…

Recent filings have revealed that Samsung Electronics has decreased its stake in ASML, a semiconductor manufacturing equipment maker, by 50%. In its semi-annual report, the South Korean technology giant stated that it held 2.75 million shares in the Dutch company as of the end of June, a decrease from the 6.3 million shares reported in its first quarter. According to the latest share prices, the stake sold by Samsung is valued at approximately 2.1 billion euros. Reports from local media suggest that Samsung intends to utilize the proceeds for the development of new memory chip production lines. However, the sale…

The Kenyan National Assembly is currently reviewing a petition to ban Tiktok due to concerns about lack of effective regulation and high prevalence of sexual content. The petition was submitted by Bob Ndolo, the CEO of Bridget Connect Consultancy. Ndolo stated that the failure of the country’s communication authority to effectively control the media platform has resulted in escalated violence, hate speech and similar issues among the youths. Ndolo’s petition also highlighted the potential negative consequences of the app’s addictive nature, including a possible decline in academic performance and an increase in mental health issues among Kenya’s young people. Additionally,…

In a bid to revolutionize local digital banking services, Huawei AppGallery has joined forces with top banks in South Africa. This collaboration aims to enhance digital banking and improve the users’ proficiency for Huawei device owners. South African top banks such as Absa Bank, First National Bank, Nedbank, Capitec Bank, Bidvest Bank, Old Mutual Bank, Sasfin Bank and Standard Bank are in collaboration with Huawei Mobile Services to offer a wide range of benefits to Huawei users. The unique strengths and features of the banking apps that are emphasized by the Huawei app gallery expand the range of financial services…

Amazon Web Services has recently launched its first African Skills Center in Cape Town, South Africa, with the aim of eliminating barriers to cloud skill training. This marks the third AWS skill center globally, with the other two located in Arlington, Virginia, and Seattle, Washington in the United States. The new cloud training is part of Amazon’s service to assist 29 million individuals worldwide to enhance their tech skills for free by 2025. Maureen Lonergan, the Vice President of AWS Training and Certification, expressed confidence in the abundance of talent in Cape Town and emphasized that training the workforce can…

The African executives of Google, in a meeting at Abuja on Tuesday, unveiled its plan to empower Nigerian women and youth with digital skills and help the government to create one million digital jobs. The initiative also promises to give the government a grant of 1.2 million to aid the process. During the meeting, Kashim Shettima, the Vice President of the Federal Republic of Nigeria, announced that Nigeria intends to generate digital employment opportunities for its large youth population. Shettima further mentioned that Google’s initiative aligns with the government’s objective of enhancing youth involvement in the digital economy.The government is…

Fintech startup Vegapay, a digital lending and card management platform has raised $1.1 million in a pre-Seed funding round led by Eximius Ventures along with DSP HMK, Capri Global, Upsparks Capital, MGA Ventures, Climber Capital, Arun Venkatachalam (Murugappa Group), Pratekk Agarwaal (General Partner at GrowthCap Ventures) and a host of angel investors. The platform intends to use the funding to develop their technology further to make frontline adoption easier for institutions and non-institutions. “The banks and the fintech players take months to launch new financial products like credit cards and lending offerings. However, we can help them reduce the time…

Mastercard has agreed to purchase a minority stake in the fintech division of MTN Group, Africa’s largest cell phone provider, which it values at $5.2 billion. The company revealed this in a recent statement. According to them, the signing of the formal investment agreements will likely occur very soon as both parties near the end of the regular due diligence process; the investment will be closed subject to usual closing conditions, the announcement read. According to MTN Group president and CEO Ralph Mupita, the deal will be structured as a commercial partnership on payments and remittances employing Mastercard’s technical infrastructure…

The London-based startup 11x.ai has recently announced to the general public its launch, along with a $2 million pre-seed funding round led by Project A Ventures. The company aims to develop and facilitate the creation of AI workers that can perform tasks in areas such as sales development, talent acquisition, and human resources. In the company statement, the startup’s first digital worker is Alice, a sales director representative (SDR). 11x.ai will soon introduce a no-code platform where companies and developers can build their own digital workforce to automate routine tasks. For example, in sales, these tasks may include initial outreach…