Author: Akin Naphtal

US-based space exploration company, SpaceX, has announced plans to launch Starlink, its satellite Internet service, in Kenya, pending regulatory approval Kenyans can pre-order the service and deposit a fully refundable deposit of Sh12,260 ($99) to reserve it if approved. The Starlink kit, including a Starlink dish, a mounting tripod, a WiFi router, a power supply, and cables, will reportedly cost $499 (Sh73,677). According to SpaceX, service will be available in Nairobi, Kisumu, Mombasa, and Nakuru, among other cities, in June 2023. With the demand for high Internet speed for streaming, video calls, and online gaming, Kenyans can expect a dependable…

Microsoft’s quest to acquire Activision Blizzard may have struck another stumbling block. This was revealed following report that the European Commission is considering issuing an antitrust warning to Microsoft to block the deal in its current form. According to sources, the EU’s competition authority is preparing a ‘statement of objections’ outlining its objections to the agreement, which it will send to Microsoft in the coming weeks. The European Commission opened an in-depth probe into the deal in November, stating it was concerned that the proposed deal could stifle competition for the distribution of console and PC video games and for…

Leading crypto derivatives exchange Bitget announces to be the first exchange to launch copy trading in the spot market. As the first exchange for offering copy trading for derivatives in 2020, Bitget has honed its highly liquid, highly innovative flagship product, One-Click Copy Trade, to deliver a similarly intuitive experience for spot traders in 2023. Copy trading provides a good starting point for beginners to shadow their trading portfolio with a more experienced trader and increase their chance of profitability. Also, users are entitled to more transparency and flexibility as the feature discloses detailed information on the traders’ ROI, buy…

The University of Technology Sydney (UTS) and the Museum of Applied Arts and Sciences have partnered to create an immersive education and professional hub for the Australian fashion and design industry. Known as the Creative Industries Academy, the hub is the latest initiative that brings together education and industry in Sydney’s rapidly developing Tech Central precinct. “The potential to share facilities and generate collaborations between students, researchers, museum staff and creative industries residents will elevate the creative output of the entire precinct,” says UTS Vice-Chancellor and President, Professor Andrew Parfitt. Image: Florian Groehn. READ ALSO: Top Reasons why US firms…

A number of efforts are underway to get businesses across the United States, in sectors such as food and beverage (F&B) and transport, to adopt digital payment systems. The US may be home to some of the largest technology companies in the world, but its payment systems can seem somewhat antiquated for visitors to the country. However, obstacles remain due to factors such as the lack of knowledge in implementing such systems, along with fears that they are vulnerable to hacks. RELUCTANT TO ADOPT TECH Eateries such as Nan Xiang Xiao Long Bao dim sum restaurant use cloud-based technology to…

The Financial Conduct Authority (FCA), Britain’s financial watchdog, has announced the need to fine the UK subsidiary of Nigeria’s Guaranty Trust (GT) Bank £7.6 million ($9.3 million) for “further failures in its anti-money laundering systems and controls.” Between October 2014 and July 2019, the watchdog discovered “serious weaknesses” in anti-money laundering systems. READ ALSO: Foresight Group Raises £60m for Scotland SME Fund Enza Group Launches new Product for African Payments Industry Former ICASA Exec Joins MultiChoice Africa According to the FCA, GT Bank failed to conduct adequate customer risk assessments, frequently failing to assess or document the money laundering risks…

Investor Foresight Group has secured over £60m from British Business Investments and the Strathclyde Pension Fund for its fund for Scottish SMEs. Businesses will receive £1m-£5m debt or equity investments from the group’s second Scotland SME fund. Foresight Group will also increase the headcount of its Scottish team. Matt Smith, partner, Foresight Group, said: “The fund reflects our commitment to the Scottish market, where we believe there is a funding gap for the provision of capital and expertise to smaller companies. “We look forward to strengthening our ties with the local business community and further building our local team.” READ…

MTN Uganda has announced a five-year strategic partnership with Huawei Technologies, a global ICT solutions provider, to transform and modernize its network towards a Cloud-native 5G-Capable Core network. This partnership dubbed MUNA project is part of the greater MTN Group MUNIC strategy that will see MTN Uganda’s network evolve into an All-Cloud Core network. True to its strategic intent of ensuring that everyone enjoys the benefits of a modern connected world, this initiative shall allow MTN Uganda to have a future-oriented network with greater service agility, innovation for both consumer and industrial verticals, differentiation, improved operation efficiency and better customer…

A team of highly experienced payments industry professionals have launched the enza group (enza), a payments company focused on servicing the growing needs of banks, FinTechs, and MNOs across the African continent. The African consumer payments landscape remains dominated by cash, with global management consulting firm McKinsey estimating that only 5% to 7% of all payment transactions in Africa are made via electronic or digital channels. As a result, McKinsey anticipates that between 2020 and 2025, the electronic payments market in Africa will grow by around 150%. READ ALSO: Former ICASA Exec Joins MultiChoice Africa Report Shows Fintech is the…

London-based climate risk analytics provider Climate X has appointed former Monzo, Amazon and Facebook staffer Andrew Ellam as vice president of technology. Ellam joins from Monzo, where he was chief of staff to the digital bank’s CTO and head of technical program management. He has also worked at Big Tech players Facebook and Amazon, as well as startups, and recently served on UK Finance’s digital, technology and cyber security products and services board. READ ALSO: Kenyan Fintech Startup Kwara Acquires Software Company IRNET Coop Kenya Former ICASA Exec Joins MultiChoice Africa Report Shows Fintech is the Most Vibrant Sector in…