Author: Akin Naphtal

Mastercard, a U.S.-based multinational on card payment services, has reiterated its commitment to the enhancement of digital infrastructure to support Africa’s growing demand for seamless digital transactions. it also said the company will utilize technology for the promotion of financial inclusion in the continent. The venture’s Country Manager for the South African region, Gabriel Swanepoel said this at the Mastercard Indaba 2024, an annual customer engagement and leadership conference held in South Africa, attesting that technological advancements and economic shifts are shaping the continent immensely. Swanepoel stressed the importance of deploying tailored technology to ensure safety and efficiency in digital…

Fintech startup, Cadana, has raised $7.1 million in seed funding led by Costanoa Ventures, with additional contributions from Better Tomorrow Ventures and 500 Startups, aimed at enhancing Cadana’s payroll services for international hiring platforms and financial institutions. Following the funding announcement, Cadana’s CEO, Albert Owusu-Asare, emphasised the company’s commitment to addressing specific market challenges. “We have concentrated our efforts on establishing a strong local infrastructure to tackle these issues. Over the last three years, we have worked on integrating local payment systems, ensuring compliance, and incorporating benefits systems to enhance our service offerings and better fulfil the requirements of our…

Paramount Global has announced that it will raise subscription rates for its flagship streaming services as part of a broader strategy to recalibrate its business and pay off debt. The price adjustments come amid failed merger talks between Non-Executive Chairwoman, Shari Redstone, and David Ellison’s Skydance Media regarding the potential sale of Redstone’s controlling stake in Paramount Global to the independent studio, according to sources. Starting 20th August for new users and September 20 for existing customers, the Paramount+ with Showtime plan will increase by $1, bringing the monthly cost to $12.99. The Paramount+ Essential subscription rate will see a…

Senegal-based cloud communication start-up, LAfricaMobile has secured $4.6 million in a Series A funding round for expansion its operation across French-speaking Africa. Founded in 2014, LAfricaMobile enables clients to run extensive communication campaigns using mobile technologies such as SMS, USSD, voice, WhatsApp, airtime, and text-to-speech. The company has established connections in over 15 countries and with 60 operators, facilitating nearly 100 million transactions. With the new funding, LAfricaMobile plans to broaden its operations significantly. Fatoumata Bâ, the founder and executive chair of Janngo Capital, expressed her admiration for LAfricaMobile’s vision, team, and technological solutions, highlighting their unique services in a…

American multinational, Microsoft has said the African continent has the potentials to shape the future of work as large language learning models (LLMs) evolve and the environment for Artificial Intelligence (AI) applications is still in its infancy. In the company’s whitepaper tagged:” AI and the Future of Work in Africa” in collaboration with industry African experts, said about One billion Africans currently under the age of 35 with the continent projected to be home to almost half of the world’s youth population by the turn of the century, making the continent is poised to make up a significant portion of…

To tackle underlying issues of mental health among youths in South Africa, the Foundation for Professional Development (FPD) has launched a pioneering mobile game, The StepWell Saga – Stronger Together. Funded by a groundbreaking grant from Grand Challenges Canada, this initiative aims to reach young people through an engaging platform where they spend significant time: mobile gaming. The StepWell Saga, Africa’s first serious game dedicated to mental health, unfolds as a captivating 2D side-scrolling adventure. Designed to be data-efficient, the game is easy to download and play, even on low-storage phones. Players embark on a journey to restore light to…

The Nigeria Inter-Bank Settlement System (NIBSS) has announced Ebehijie Momoh as Managing Director and Chief Executive Officer (CEO) and Ugo Obasi as Chief Operating Officer (COO) AfriGOPay Financial Services Limited (AFSL), a subsidiary of the body. In a statement, NIBSS highlighted these appointments as crucial steps in its mission to revolutionize the payment landscape, enhancing the financial experience for businesses and consumers across Nigeria, Africa, and beyond. “Mrs. Momoh brings an impressive breadth of experience and a forward-thinking vision to her pivotal role as MD/CEO,” the statement read. Momoh’s extensive career spans over 30 years in the financial services industry,…

Mpilo Technologies has announced its new status as an Amazon Web Services (AWS) Select Partner, marking a significant milestone in the company’s mission to transform Africa’s technological landscape. This partnership represents a pivotal moment in the continent’s journey towards becoming a major player in the global digital economy. The tech company reiterated its commitment of changing the narrative, of the continent of being perceived a “late entrant in the international economic arena”. It view the advent of public cloud technologies like AWS as a unique opportunity to redefine Africa’s role in the Fourth Industrial Revolution. Public cloud technologies democratize access…

Starlink, the SpaceX subsidiary known for providing global broadband internet through low-Earth orbit satellites, is ramping up its efforts to offer direct-to-smartphone connectivity. The launch occurred, June 18, 2024, from Vandenberg Space Force Station in California. The Falcon 9 rocket carried 20 Starlink satellites, with 13 specifically designed for direct-to-mobile (DtC) functionality. This follows a previous launch where another 20 satellites were sent into orbit, 13 of which also had direct-to-mobile capabilities. “Direct-to-mobile is a new and experimental concept that still faces a long road ahead for it to become fully viable,” a report from Starlink noted. Direct-to-mobile functionality operates…

Tala, a U.S. based fintech company, has unveiled plans to tap into the $10 trillion global fintech market by targeting the Global Majority population, which comprises 52% of the world’s population. This announcement was made by the company’s Global Chief Business Officer Jori Pearsall, during the it’s 10th-anniversary celebrations at the Radisson Blu Hotel in Upper Hill, Kenya. Entering the second phase of its operations, Tala will focus on reaching U.S. populations historically excluded by legacy financial institutions. Pearsall emphasized that these communities, located primarily in emerging markets, earn in both formal and informal economies but lack access to essential…