Author: Akin Naphtal

Mastercard and Women Choice have expanded their partnership to launch two programs – ImpactHer and EmpowerHer – to support women entrepreneurs grow their businesses and create jobs across the Middle East and Africa. Women Choice – an international organization dedicated to advancing women’s personal and professional development – launched the pilot cohort in 2023. The next cohorts will be participating in the new programs this year and will aim to impact 50,000 women. Mastercard has been at the forefront of providing women with access to digital tools, training to help them start and grow their businesses, creating mentorship and networking…

Facebook parent company, Meta Platforms has revealed details about the next generation of its in-house artificial intelligence (AI) accelerator chip, aiming to decrease its reliance on Nvidia’s AI chips and cut energy costs. Reuters previously reported Meta’s plan to deploy a new version of a custom data centre chip, internally named “Artemis,” to tackle the increasing demand for computing power in Facebook, Instagram, and WhatsApp’s AI products. The new Meta Training and Inference Accelerator (MTIA) chip, produced by Taiwan Semiconductor Manufacturing Co on its “5nm” process, promises three times the performance of its predecessor. “This chip’s architecture is fundamentally focused…

Tech giant, Apple, has ramped up its iPhone production in India, assembling approximately $14 billion worth of iPhones in fiscal year 2024, according to a Bloomberg News report, as the tech giant seeks to diversify its supply chain and reduce reliance on China. The report indicates that Apple now manufactures approximately 14% of its flagship devices in India, translating to roughly 1 in 7 iPhones being made in India. Key manufacturing partners contributing to this effort include Foxconn and Pegatron Corp, with Foxconn assembling nearly 67% of the India-made iPhones and Pegatron accounting for about 17%. Additionally, Wistron Corp’s plant…

At its Vision event on Tuesday 9th April, US tech giant, Intel, introduced its Gaudi 3 artificial intelligence chip, in its bid to challenge to rival chipmaker Nvidia’s foothold in the semiconductor market powering AI technologies. Nvidia currently commands approximately 83% of the data centre chip market, with Google’s custom tensor processing units (TPUs) comprising a significant portion of the remaining share. To rise up the pecking order, Intel’s has to develop a competitive bundle of chips and software capable of rivalling Nvidia’s offerings in the AI space. Intel’s newly unveiled chip is positioned to address the growing demand for…

Microsoft, has announced an investment of $2.9 billion in Japan’s cloud and artificial intelligence (AI) sector over the span of two years, marking the tech giant’s largest commitment in the country since it commenced operations there 46 years ago. The announcement, made on Tuesday 9th April, shows Microsoft being dedicated to enhancing its cloud and AI infrastructure in Japan. The investment will not only fuel the expansion of its cloud capabilities but also facilitate the development of AI technologies. Moreover, Microsoft aims to contribute to the upskilling of three million individuals in AI-related fields, thereby fostering talent development within the…

Cloud computing company, Amazon Web Services (AWS), has maintained its lead over rivals Microsoft Azure, and Google Cloud, in the race for the foremost position in the global cloud market, securing a 31% share, according to a report from Stocklytics.com. Financial analyst at Stocklytics, Edith Reads, offered insights into the competitive landscape of the cloud market, stating, “the cloud market is proving competitive with players keen to tap into the new users. AWS is outstanding due to its robust technology, competitive pricing, and early entry into the market. However, other players like Azure and Google Cloud are catching up.” Emerging…

Italy’s government has drafted a bill which shows the country considering meting out stricter penalties for Artificial Intelligence-related crimes, including offenses such as market manipulation and money laundering. A draft law bill obtained by Reuters on Tuesday has shed more light on the proposed measures aimed at addressing the growing influence of AI on criminal activities. The 25-article draft bill outlined essential principles concerning “research, experimentation, development, adoption, and application” of AI within Italy. It stressed that it’s important to manage AI’s impact on human rights and mitigate the economic and social risks associated with it. While subject to potential…

US tech giant, Microsoft has unveiled plans to establish a new artificial intelligence (AI) hub in London, as part of the tech giant’s aim to focus on product development and research within the realm of AI. The newly-formed unit will be headed by Mustafa Suleyman, a London-native who co-founded Google DeepMind. Suleyman, who joined Microsoft in March, brings with him a wealth of experience in AI research and development. Microsoft is the primary backer of OpenAI, the organisation behind ChatGPT, but Europe’s competition for AI talent could lead to Microsoft poaching talent from OpenAI and other AI-focused entities like DeepMind…

The African Export-Import Bank (Afreximbank) has partnered with Sterling Bank to introduce the ‘Payables Finance’ supply chain finance product to the Nigerian market, in a bid to enhance trade finance solutions in Nigeria. Branded as ‘Afreximbank Tradelink,’ this innovative offering is part of Afreximbank’s digital suite under the Africa Trade Gateway (ATG) initiative, which aims to equip African corporates and commercial banks with digital tools to streamline trade processes. Payables Finance provides suppliers with access to financing by allowing them to receive early payments for approved invoices from corporate buyers. This arrangement enables suppliers to manage their working capital effectively,…

French multinational energy company, ENGIE Energy Access (EEA) will be partaking in the Invest in African Energy (IAE) forum in Paris this May, which will see EEA’s Head of Funding, Marie Testard, addressing the subject of unlocking clean energy finance in Africa. EEA, represents a leading mini-grid and off-grid Pay-As-You-Go solar energy company in Africa, and has already demonstrated its commitment to enhancing electrification rates across the continent through multiple investments. In Nigeria, EEA is currently spearheading a $60-million mini-grid project, backed by financing from CrossBoundary Energy Access. This initiative is the largest mini-grid project finance transaction in Africa, aiming…