Author: Akin Naphtal

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…

Kenya has begun taking steps to regulate digital assets within its borders, as part of the government’s aims to combat scams, fraudulent investments, and money laundering associated with cryptocurrencies. The initiative follows the passing of its Finance Act, which imposes a 3% tax on the revenue generated from citizens trading digital assets. In the wake of Nigeria’s demand for the extradition of Nadeem Anjarwalla, a Binance executive accused of tax evasion, Kenya’s government seeks to avoid such crimes by establishing a multiagency technical working group. This group is tasked with developing a regulatory and monitoring framework for the usage of…

Apple is reportedly planning to introduce a built-in calculator app for the iPad, over 14 years since the device’s inception, as part of its upcoming iPadOS 18 software update. According to a source familiar with the matter, the calculator app will be compatible with all iPad models eligible for the software update. The unveiling is expected to take place during the opening keynote of Apple’s annual developers conference WWDC on 10th June. The absence of an official Calculator app for the iPad has been a recurring topic on social media, with users expressing satisfaction at the rumour about its arrival.…

Music streaming platform, Spotify has seen its quarterly gross profit exceed €1 billion ($1.1 billion) for the first time, driven by tightened marketing spending, though the company fell short of its forecast for monthly active users (MAUs). The Swedish company, known for its aggressive user growth strategies through promotions and investments in podcasts and audiobooks, shifted its focus last year towards cost-cutting measures to enhance margins and profits. These efforts included layoffs and reductions in marketing expenditures, aimed at bolstering financial performance. Despite initial market reaction, with Spotify shares initially falling on the quarterly results, they later reversed course to…