Author: Akin Naphtal

While the collapse of FTX shaved $100 billion off of BTC’s market cap in just four days last year, Bitcoin has managed to fully recover and stack on another $65 billion. A 48% Bitcoin $24,820 price surge since the start of the year has pushed BTC’s market cap past that of payment processing giant Visa once again. With the BTC price currently at $24,365, its market cap of $470.16 billion is now marginally above that of Visa, which has a market cap of $469.87 billion, according to CoinMarketCap. This is the third time that BTC has “flippened” the market cap…

Salsa, a web3-native messaging platform that helps users discover and connect with relevant people and brands, released its mobile app into public beta this week, following a $2 million pre-seed raise. Salsa is a mobile app using on-chain data to add social context to wallet-native messaging. The new Salsa mobile application helps web3 users form meaningful connections by using social proof from on-chain data to add context to wallet-native messaging. While web3 users create valuable data on-chain, they currently communicate on web2 platforms like Telegram and Discord that don’t natively understand the data. This results in a fragmented user experience…

Ride-sharing startup Showfa has launched a commission-free app for cab drivers in Nairobi. The company seeks to compete with firms such as Bolt, Uber, Little Cab, inDriver, and Wasili, among others. According to the Ride-hailing app, it claims that its services are distinct from those of its competitors because it does not charge drivers commissions, which operators have previously complained about, and it also provides low fares for passengers as well as ambulance services. “We understand that the current economic climate has made it difficult for many drivers to make ends meet, which is why we are proud to offer…

QNB Group, one of the largest financial institutions in the Middle East and Africa, has launched a new biometric payment acceptance solution for merchants in Qatar. The technology is based on proprietary facial verification technology developed by PopID and supported by Visa through tokenization. This innovative solution allows customers to authenticate payments for goods and services through facial verification, without the need for a physical card or mobile phone after initial enrolment. Customers can create their profile by taking a selfie of their face using their smartphone, enter their phone number and card details. The technology then tokenizes the card…

Bitnob, a fintech firm that aims to make financial transactions easier for Africans, has launched its virtual dollar card. The digital card enables users to make seamless online payments, with the option to create a card for free and fund it with up to $10,000. Additionally, users can customize their cards, track transactions, and freeze cards for security or to prevent unwanted bills. The Bitnob virtual dollar card has been designed to address the hardship caused by restrictions on international transactions using naira debit cards, as implemented by the Central Bank of Nigeria in 2022. This has made it difficult…

Ride-hailing giant Bolt has announced plans to invest €500m ($530m) in Africa over the next two years. The investment is expected to provide “earning opportunities for 300,000 drivers across the continent.” In Kenya, the company plans to invest Ksh13.4bn ($100m) to expand to more cities, providing affordable, high-quality services to customers and earnings for drivers. According to Linda Ndung’u, Bolt Kenya’s country manager, “Bolt shall double down on increasing its footprint across Kenya by expanding its services into more cities and town centres. This will provide access to affordable and quality services to customers whilst providing earning opportunities for drivers…

Telecom giant Vodafone Group Plc has concluded the sale of its 70% controlling stake in Vodafone Ghana (Ghana Telecommunications Company Limited – GTCL) to Telecel Group, following regulatory approval and the agreement of the Ghanaian Government, as a minority shareholder. The move marks the most significant development for the Ghanaian telecoms firm since 2008 when Vodafone Group Plc took control of GTCL and formed Vodafone Ghana. Telecel Group is a leading Africa-focused telecommunications company specialising in integrating telecoms with fintech, e-commerce, and tech startups, with a history dating back to 1986. This acquisition provides Telecel Group with the opportunity to…

Ecobank Transnational Incorporated (ETI) has announced the recent appointment of Josephine Anan-Ankomah, a Ghanaian Banker as the Managing Director of Ecobank Kenya. The announcement of her appointment follows the approval from the Central Bank of Kenya. She replaces Cheikh Travaly who retired at the end of 2022 after attaining the mandatory retirement age of 60 years in accordance with Ecobank Group policy. By the appointment, Mrs Anan-Ankomah would also serve as the Regional Executive, Central, Eastern and Southern African (CESA). She will be responsible for leading and growing the Bank’s business in Kenya and the wider CESA region constituting 18…

Telefónica, Ericsson and Qualcomm launch the first commercial mobile 5G millimeter (mmWave) network in Spain in Hall 3 at MWC 2023, Barcelona. This technology milestone will allow compatible user devices partners to access the Ericsson-powered Telefónica 5G mmWave network during the event. At the event, Qualcomm Technologies will showcase the broad range of global 5G mmWave devices powered by Snapdragon mobile platforms that drive industry advancement forward. Telefónica is the only service provider in Spain that has acquired a full 1GHz spectrum, which will make Telefónica the first company able to offer in the future download speeds beyond 5Gbps, and…

Co-Creation Hub (CcHUB), Africa’s largest innovation hub, has launched a $15 million accelerator program named “The Edtech Fellowship Program.” It will back and support 72 startups across Nigeria and Kenya for the next three years, according to a statement from the company. The program aims to amplify the impact of edtech startups and support founders who offer tech solutions to address learning innovation in an educational sector riddled with a plethora of issues. The sub-Saharan region has the most children out of school with about 98 million children and young people excluded from education, per this report. Even for those…