Author: Akin Naphtal

The cryptocurrency known as TON has experienced a surge in value in recent months, holding $18.3 billion in circulation, and standing as the 10th largest cryptocurrency, trailing behind cryptocurrencies like Dogecoin. Telegram endorsed TON in September last year, declaring it as the platform’s “official Web3 infrastructure.” This move has paved the way for TON’s adoption within the Telegram ecosystem, which could allow TON to reach Telegram’s estimated 900 million users. Earlier this month, TON announced that Tether tokens could be issued on its blockchain, enabling Telegram users to send the stablecoin to each other directly within the app. As a…

Samsung Electronics has unveiled plans to meet the growing demand for artificial intelligence (AI) chips by increasing the supply of high-end chips, as it aims to capitalise on the booming global memory chip market. The South Korean tech giant, known as the world’s largest memory chip maker, reported a remarkable over 10-fold rise in first-quarter operating profit. This outlook has propelled Samsung’s shares up by 1.8% as of Tuesday, 30th April. Despite the positive momentum, Samsung’s shares have experienced a slight decline of 0.8% since the beginning of the year, trailing behind its competitor SK Hynix, which has seen a…

Artificial intelligence (AI) startup, OpenAI has partnered the Financial Times (FT), allowing the AI research organisation to licence FT’s content for the development of its AI models. The financial terms of the agreement, announced on Monday, 29th April have not been disclosed. According to Reuters, this deal follows similar agreements by OpenAI in recent months with other prominent media organisations, including the Associated Press, Axel Springer, Le Monde, and Prisa Media. Under the terms of the agreement, OpenAI will leverage archived content from the FT to enhance its ChatGPT chatbot. Additionally, the two entities will collaborate to develop new AI…

OPay, a Nigerian fintech startup, has experienced a significant increase in its valuation, with Opera, an early investor in OPay, revealing that the fintech’s valuation has surged by over 30% since its Series C funding round in 2021. OPay’s growth can be attributed in part to Nigeria’s digital payments boom, which was accelerated by challenges in the country’s traditional cash-based economy. Cash shortages in 2023 led to a surge in digital transactions via platforms like Moniepoint and OPay, resulting in record-high national payment volumes totaling N611 trillion for the year, according to the Nigerian Inter-Bank Settlement Scheme (NIBSS). Originally known…

Africa Data Centres, a subsidiary of the Cassava Technologies group, has unveiled the ADC Channel partner programme, aimed at forging ecosystem partnerships and enabling partners to capitalise on an expanded data centre footprint to broaden product portfolios and market reach. The ADC Channel programme stands as an opportunity for a wide array of industry players, including global carriers, Internet Service Providers (ISPs), system integrators, data centres, mobile networks, content developers, telecommunications companies, and network infrastructure operators to band together. By joining forces, these partners can collectively deliver cutting-edge, sustainable, and cost-effective digital solutions to clients across the continent. At the…

Google is now the world’s fourth most valuable public company, right behind Nvidia, Apple, and Microsoft, which has a market cap of just over $3 trillion and overtook Apple earlier this year for first place. This isn’t Alphabet’s first brush with the $2 trillion club. The company briefly hit the threshold in November 2021 and earlier this month but closed above it for the first time on Friday, according to Bloomberg. The news followed Alphabet’s first-quarter earnings report on recently, where revenue beat analysts’ expectations due to the success of Google’s search engine. Alphabet’s chief executive, Sundar Pichar, also highlighted…

Ghana’s National Communications Authority (NCA) has granted Space X Starlink GH LTD, the operators of Starlink Satellite Broadband, the approval to offer Satellite Broadband Services in Ghana, following the Ministry of Communications and Digitalisation’s endorsement of the Satellite Licensing Framework in the country. The green light for Space X Starlink GH LTD signifies a significant advancement in Ghana’s telecommunications sector, promising enhanced connectivity and access to broadband services, particularly in remote and underserved areas. In a publication announcing Starlink’s approval, the NCA stated that the administrative processes for the issuance of the license are currently underway and are expected to…

The United Nations Economic Commission for Africa (ECA) has called on Africa’s policy makers to embrace digital tools which foster transparency, efficiency, and effectiveness, as such tools can fortify national planning initiatives across Africa. This call was made during an e-meeting on “Leveraging Digital Technologies for Integrated Planning to Advance the SDGs and Agenda 2063 in Times of Multiple Crises,” held as a side event during the Tenth Session of the Africa Regional Forum on Sustainable Development (ARFSD-10). The e-meeting, orchestrated by ECA’s Macroeconomics and Governance Division and the Office for Eastern Africa, served as a platform for discourse and…

In alignment with United States president, Joseph Biden’s, Digital Transformation with Africa Initiative, and the US Department of Commerce’s Africa strategy, NBA Africa has unveiled the “Triple-Double: NBA Africa Startup Accelerator,” aimed at fostering early-stage African tech startups. The accelerator, operated by ALX Ventures, a prominent technology incubator in Africa, seeks to bolster the continent’s tech ecosystem and empower the next generation of African tech entrepreneurs. By providing access to mentorship and capital, the initiative aims to drive growth in the sports and creative industries across Africa. NBA Africa CEO, Clare Akamanzi, made the announcement during the American Chamber of…

Kenya’s government, on the topic of what to do about concerns regarding Chinese short video app, TikTok, has recommended against banning the platform, instead urging lawmakers to opt for stricter regulations. A panel in parliament has been reviewing a petition from a Kenyan citizen calling for a ban on the Chinese-owned platform. The recommendation from the government comes in response to accusations from the interior ministry that TikTok has been utilised for spreading propaganda, perpetrating fraud, and disseminating sexual content. The Ministry of Information and Communication advised the panel against imposing a ban, proposing the adoption of a co-regulation model…