Author: Akin Naphtal

PayPal, the global payment giant, announced recently its own stablecoin, dubbed PayPal USD (PYUSD). The token is backed by US dollar deposits, short-term treasuries, and similar cash equivalents, ensuring a 1:1 redemption for US dollars. Unlike the volatility often associated with other cryptocurrencies, a stablecoin like PYUSD will maintain its value against a benchmark, in this case, the US dollar. It can also be converted to other digital tokens supported by PayPal, such as Bitcoin and ether and would be issued by Paxos, which is regulated by the New York State Department of Financial Services. The token will be available…

Safaricom Ethiopia has finalized a transaction with the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA), members of the World Bank Group which will see the company receive funding in the form of full equity investment, a loan and guarantees. This investment aims to support the company’s ongoing “greenfield telecommunication network” construction and operation to drive connectivity across Ethiopia. According to Safaricom’s Chief Business Development and Strategy Officer, Michael Mutiga, the package works to over $ 1.275 billion in total. “This represents the most significant transaction in the region for the World Bank with a private company,” he…

Describing himself as a driven, self-motivated and incurable optimist, Wale Ajisebutu boasts a phenomenal career, comprising 39 years in the financial services, commodities and IT sectors. Ajisebutu currently serves as a fellow of the Institute of Charter Culture of Nigeria and the CEO and Chairman of 21st Century Technologies Limited. “I am in my element when I am solving problems,” Ajisebutu shares, “and I enjoy translating ideas into impactful transformative realities. I am from a very humble background.‘I was born without a silver spoon’, as they say. “My personality paradox expresses itself in my calm, quiet and peaceful nature and…

Internet exchange points (IXPs) are the lifeblood of the internet ecosystem and are key to unlocking the potential of a digital, connected Africa. They play a crucial role in enhancing connectivity for individuals and businesses and promoting economic growth. However, in Africa many individuals and entities suffer the consequences of connecting to internet traffic that takes convoluted routes across distant locations before reaching them, which leads to exorbitant costs and sluggish internet connections. As an emerging market, the challenge in Africa is not only establishing the necessary infrastructure but also strengthening the capabilities to operate and maintain these IXPs, according…

American mobility giant Uber kicks off its fintech business in Mexico, the latest move from the tech company to ramp up financial services overseas. San Francisco-based Uber, which completely disrupted the transportation industry, recently received a fintech license from the local regulator in Mexico. It will allow the ride-hailing app to enhance its services in Latin America’s second-largest economy, potentially paving the way to virtual wallets and debit and credit card products in a country of 130 million. Almost a decade after its foundation, the tech firm made a global push into the fintech sector. It introduced Uber Money in…

The Enugu State government has introduced an e-ticket scheme to curb the excesses of touts masquerading as government levy collectors. This was revealed by the Head of Media to the state governor, Dan Nwomeh. Called the Enugu State Unified e-Ticket Scheme, the system will become fully operational by August 11. According to Mr Nwomeh, the purpose of the scheme is to make tax and levy payments easier and more convenient for transporters. He also noted that the system will help eliminate multiple taxation and harassment by touts across the state. “The electronic ticket scheme makes it easy and convenient for…

Stratesys – a Spanish digital integration systems company – has set up a UK base at Sci-Tech Daresbury, this was announced by the company. The digital trailblazer works with enterprise companies and SMEs to develop their market strategy and will base itself in the Innovation Centre on the campus. As part of its expansion, the company has appointed Reuben Ash, an experienced ERP, digital, and e-commerce specialist with a background in working with corporates, as director of sales and business development for UK and Ireland. According to the company, it revealed it is looking to grow its team to up…

Nigerian auto-tech startup Autochek, which is aiming to make car ownership and mobility more accessible and affordable across Africa, has spun out a South Africa-based financial services arm that provides a range of vehicle financing solutions for consumers and businesses across the continent. Autochek aims to build digital solutions that will enhance and enable a seamless and safe automotive commerce experience across Africa. The company uses technology to transform the automotive buying and selling experience for African consumers, by creating a single marketplace for consumers’ automotive needs, from sourcing and financing to after sales support and warranties. Armed with a…

A Manchester-based child development app is launching a £200,000 crowdfunding campaign, quoted in a statement announced to the Public. The startup raised £800,000 in angel investment earlier this year having previously raised £1.4m in 2022 and £200,000 in seed funding in 2021. The £200,000 crowdfunding campaign on Crowdcube will be used to improve the technology in the company’s app and help launch it into other countries. Johnson said they’d decided to go down the crowdfunding route because it will enable people to invest in the company for as little as £40 allowing more people to support the vision. “We’ve already…

Global tech Africa (GTA) has disclosed its plans, says it is set to empower 13,000 Africans to become ICT experts. In the statement according to GTA CEO, Dr Inya Lawal, announced this at the Global Tech Africa Summit which was held in Lagos recently. He said; “With Information Communication and Technology (ICT), Nigeria is talented in terms of Innovation and talents, which informs the need to be prepared for partnerships and global Investment Speaking on how accessible this programme is to the underserved community, Lawal said GTA is activating programs in various communities across Nigeria in States such as Jigawa,…