Author: Akin Naphtal

YouTube is experimenting with a new AI feature called Brainstorm with Gemini to assist creators in generating video ideas, titles, and thumbnails. The initiative revealed on YouTube’s Creator Insider channel, is currently available to a select group of creators as part of a limited trial. A YouTube spokesperson said that the feedback from these creators will influence whether the feature is rolled out more broadly. This new tool could provide YouTube an edge over other video platforms like TikTok and Instagram by offering AI-powered content creation support. The Brainstorm with Gemini feature integrates Google’s AI large language models, branded as…

Margaret Ndung’u, with over two decades of experience in the ICT sector, stands as a distinguished figure in the digital ecosystem of Kenya. She is currently tapped to become the nation’s Cabinet Secretary (CS) for ICT and Digital Economy, succeeding her predecessor Eliud Owalo. Her extensive career spans various roles and sectors, reflecting her profound expertise in digital policy, innovation, and ICT development. Ndung’u commenced her professional journey at Africa Online Holdings, where she honed her skills as a content editor and web designer, laying the foundation for her future endeavours in ICT. Her passion for digital development led her…

IHS and MTN have announced the renewal and extension of their Nigerian tower Master Lease Agreements (MLAs) until December 2032. This agreement, covering approximately 13,500 tenancy contracts, solidifies the partnership between one of the world’s largest independent owners of shared communications infrastructure and Africa’s largest mobile network operator. The renewal specifically addresses about 2,500 MTN Nigeria tenancies that were set to expire in 2024 and 2025. Under the new terms, IHS Towers will renew 1,430 tenancies, which includes new colocations. The updated contracts introduce new financial terms designed to balance local and foreign currency components more sustainably and include a…

MTN Group has announced the successful sale of its subsidiary in Guinea-Bissau, Spacetel Guinea-Bissau S.A. (MTN Guinea-Bissau), to Telecel Group Mobile Limited. The transaction, completed after securing all necessary regulatory approvals, aligns with MTN’s strategy to streamline its operations and concentrate on core markets within Africa. In a statement, MTN emphasized its commitment to ensuring a smooth ownership transition, stating that the transfer is in the best interests of MTN Guinea-Bissau, its stakeholders, and the broader telecommunications sector in Guinea-Bissau. This sale is part of MTN’s plan to exit smaller West African markets. Earlier this year, MTN Group CEO Ralph…

Nigeria’s booming telecommunications sector has propelled the West African tech economy to new heights, with the region’s telecom sector now valued at an astonishing $63.1 trillion. This surge is largely driven by the rapid expansion of fintech, e-commerce, and digital marketplaces, which collectively contribute to an impressive 80% annual growth. In addition to the telecom sector’s remarkable revenue, the region benefits from a $30 billion annual boost to its Gross Domestic Product (GDP) through digital economy activities. The latest statistics from the West African Telecom Regulatory Association (WATRA) highlight why the region’s telecom fortunes are soaring. WATRA, an association of…

Africa’s leading e-commerce platform, Jumia Technologies AG, has announced plans to raise €244 million ($268 million) through a rights issue, in a bid to bolster the company’s financial standing and support its expansion efforts across the continent. The proposed rights issue will allow existing shareholders to purchase additional shares at a discounted price, maintaining their proportional ownership. The company’s current share capital stands at 244,925,650.00 euros, divided into 244,925,650 ordinary bearer shares with no par value. The rights issue, requiring shareholder approval, is structured under German corporate law, enabling the management board, with supervisory board consent, to increase share capital…

Africa’s leading e-commerce group, Jumia, has reported a $20.2 million operating loss for Q2 2024, reflecting a 17% drop in revenue compared to the same period last year. However, the company’s loss is an 8% improvement year-over-year from the $22.1 million loss recorded in Q2 2023. Jumia’s revenue for the second quarter stood at $36.5 million, down from $44 million in the corresponding period last year. Additionally, the group’s gross merchandise value (GMV), which includes the total amount customers paid before fees, discounts, or returns, fell by 5% year-over-year to $170.1 million. The company attributed these declines to currency devaluations…

China’s ByteDance has introduced Jimeng AI, a software capable of generating videos from text prompts, in an effort to enter the burgeoning text-to-video market, an area also being explored by ChatGPT creator, OpenAI. Since the unveiling of OpenAI’s text-to-video model, Sora, in February, Chinese companies have been quick to develop and release similar tools. Although Sora is not yet available for public use, several Chinese tech firms have launched accessible models. ByteDance-owned Faceu Technology has made Jimeng AI available on the Apple App Store for Chinese users, following its Android release on 31st July. This launch by will see the…

Uber Technologies Inc. has exceeded Wall Street estimates for its second-quarter results, experiencing a 5% increase in the company’s shares, driven by sustained demand for its ride-sharing and food delivery services. With more people returning to offices and venturing out of their homes, the demand for ride-sharing has seen a significant boost in recent months, benefiting companies like Uber and its competitor Lyft. “Mobility had a standout second quarter, growth was consistent across use cases and geographic strength was led by LatAm and APAC, in particular Brazil, Australia, and India,” Uber CEO Dara Khosrowshahi said. Trips facilitated by self-driving vehicles…

E-commerce giant, Jumia has announced the appointment of Anthony Mbagwu as the new Managing Director of HelloPay Africa Integrated Service Limited, also known as JumiaPay Nigeria. This leadership change took effect on July 8th, 2024. Hellopay forms part of a larger ecosystem, the Hellogroup.Since 2005, have been creating game-changing integrated consumer and business services within the telecommunications & financial business sector for communities not only in South Africa but internationally Anthony Mbagwu succeeds Austin Okpagu, who departed Jumia after four years to pursue opportunities with a global B2B payments solution company. Before joining Jumia, Mbagwu was the Senior Business Development…