Author: Akin Naphtal

In a fast-evolving digital ecosystem, where technology is reshaping industries at the speed of light, the accounting profession in India stands at a crossroads. Sajid Khan, Director of the Association of Chartered Certified Accountants (ACCA) in India, sheds light on the critical issues confronting the sector, from the growing influence of Artificial Intelligence (AI) to the country’s aspirations for its own “Desi Big 4.” Khan issued a stark warning, saying accountants who fail to embrace and integrate AI into their work risk becoming obsolete. Khan cautioned: “Artificial Intelligence is going to replace professional accountants who do not understand and embed…

Binance has successfully registered as a reporting entity with India’s Financial Intelligence Unit (FIU), as part of its ongoing efforts to uphold the highest regulatory standards. This achievement marks Binance’s 19th global regulatory milestone. The registration with the FIU underscores Binance’s commitment to compliance with anti-money laundering (AML) standards in India as well as any other jurisdiction it operates in. The registration with the FIU underscores Binance’s commitment to compliance with anti-money laundering (AML) standards in India as well as any other jurisdiction it operates in. This step is a testament to Binance’s dedication to fostering a secure, transparent, and…

TikTok has launched its inaugural Safety Advisory Council for the expansion of its #SaferTogether community education on its platform across Sub-Saharan Africa, taking major steps to boost safety in the region. This announcement was made at TikTok’s Safety Summit held in Nairobi, Kenya. By partnering with key stakeholders, including policymakers, members of academia, NGOs, and community leaders, TikTok aims to foster a collaborative approach to ensuring a secure and positive platform environment. A Continuous Investment: The Safety Advisory CouncilSince 2020, TikTok has established nine regional Safety Advisory Councils alongside the U.S. Content Advisory Council, each composed of experts in areas…

Layoffs in the technology industry have accelerated, with major US chipmaker, Intel, and communications giant, Cisco, cutting close to 21,000 jobs in a new wave of sackings this month, bringing the total of tech layoffs in 2024 to nearly 133,000. Cisco announced last week that it would restructure, resulting in a 7% reduction of its global workforce. This marks the second significant layoff round for the company this year, following its elimination of 4,000 jobs in February. Meanwhile, Intel disclosed earlier this month that it plans to cut approximately 15,000 employees, representing 15% of its global workforce of 110,000. Intel…

Liquid Intelligent Technologies has formed a strategic partnership with Globalstar, an American connectivity innovator, to deliver advanced 5G connectivity solutions across Africa, the Middle East, and the Gulf regions. This partnership grants Liquid exclusive rights to sell and distribute Globalstar’s XCOM RAN private networks 5G access solution in these regions, which will enhance the 5G experience and support AI-driven applications.The collaboration aims to revolutionize industries such as mining in Africa and high-end markets in the Middle East and Gulf. Founder and Chairman of Liquid Intelligent Technologies, Strive Masiyiwa, , expressed enthusiasm for the breakthrough in 5G private networks technology, highlighting…

Waza, a Nigerian B2B payments platform and liquidity provider, has secured $8 million in funding to expand its operations across emerging markets. Founded in January 2023, Waza has quickly established itself as a key player in facilitating seamless business payments in Nigeria and Ghana, processing over $700 million in annualized payment volume. The recent funding round comprises $5 million in debt financing from Timon Capital and $3 million in seed capital from a coalition of investors, including Y Combinator, Byld Ventures, Norrsken Africa, Heirloom VC, Plug and Play Tech Center, and Olive Tree Capital. The company aims to simplify cross-border…

Social media platform X (formerly Twitter) has announced that it would be shutting down its operations in Brazil due to what it described as “censorship orders” issued by Brazilian Supreme Court Justice Alexandre de Moraes. X claims that Moraes secretly threatened one of the company’s legal representatives, Rachel Nova Conceicao, with arrest if the platform did not comply with legal orders to remove certain content. The company also released images of a document, allegedly signed by Moraes, which outlined penalties including a daily fine of 20,000 reais ($3,653) and the arrest of Conceicao if X failed to adhere to the…

US chipmaker, Advanced Micro Devices (AMD), has announced plans to acquire server maker, ZT Systems, for $4.9 billion in a bid to expand its portfolio in artificial intelligence (AI) chips and hardware, and strengthen its position against industry leader Nvidia. The acquisition will be funded with 75% cash and the remainder in stock. As of the second quarter, AMD had $5.34 billion in cash and short-term investments. This acquisition highlights the growing importance of complete server systems in handling the vast computing requirements for AI, where thousands of chips are linked in clusters to maximise data processing power. AMD CEO,…

OpenAI has taken action against an Iranian group known as Storm-2035 for using its ChatGPT chatbot to create content aimed at influencing the upcoming U.S. presidential election and other politically sensitive topics. Last Friday, the Microsoft-backed AI company announced that it had disabled the accounts linked to the operation, which generated content on issues including the U.S. elections, the Gaza conflict, and Israel’s involvement in the Olympic Games. According to OpenAI’s investigation, ChatGPT was used to produce long-form articles and shorter posts that were then disseminated across social media and various websites. However, the operation did not appear to gain…

The Malawi Communications Regulatory Authority (MACRA) has announced that it is taking steps to bridge the digital gap by launching an initiative to produce locally assembled low-cost smartphones. The authority revealed that 40% of Malawians still lack internet access, highlighting the urgency of increasing digital connectivity across the nation. The new program aims to provide affordable smartphones to help address this gap, although the exact timeline for its launch has not been disclosed. The MACRA’s Director General, Daud Suleman, emphasized the importance of a collaborative approach to enhance access to digital services, stating, “We need a multi-sectoral approach for citizens…