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Nigeria Forex Inflow Hits $1.07 Billion: Forex inflows from International Money Transfer Operators (IMTOs) surged by 38.86 percent to $1.07 billion in the first quarter of 2024. Additionally, the previous quarter in the previous year was $770.23 million. This increment…
Google drops its Chrome cookie removal plan, a significant shift in strategy announced on July 22, 2024. After years of commitment to phasing out third-party cookies, which are small data packets used for tracking users across the web, Google has…
Africa is witnessing a surge in innovation and entrepreneurship, yet many startups struggle to transition from ideas to market-ready products. The Startup and Talent Enhancement Program (STEP) connects African startups with talent, providing essential resources to navigate these challenges. Launched…
The Federal Competition and Consumer Protection Commission (FCCPC) of Nigeria has levied a substantial fine of $220 million against Meta Platforms, Inc., the parent company of Facebook and WhatsApp, for serious violations of data protection laws. This decision follows a…
AUATON Criticizes Airport Parking for Uber/Bolt Drivers: The Amalgamated Union of App-based Transporters of Nigeria (AUATON) has revealed it is against the directive requiring e-hailing drivers to pay a fee of ₦45,000 for airport parking. A letter sent to the…
OpenAI launches the new GPT-4o mini model on Thursday. The latest mini model is designed to balance the power of GPT-4o with a more cost-efficient approach. This was announced through a blog post. OpenAI revealed that the 4o mini is…
A mistake in a security software update from U.S. cybersecurity software company CrowdStrike crashed Microsoft Windows systems around the globe on Friday. The global outage impacts business and services around the world. This development reinforces the fears about dependence on…
Telkom, South Africa’s third-largest mobile network operator, has been slow to launch 5G support for smartphones compared to its rivals Vodacom and MTN. Lunga Siyo, Telkom Consumer CEO, cites two main reasons for the delay in Telkom’s 5G phone launch:…
LULA, a ride-sharing platform focused on office workers, has acquired the South African operations of Zeelo, a US-based staff bus-sharing startup. The financial details of the all-cash deal remain undisclosed. Zeelo, which entered the South African market in 2019, has…
TerraPay Secures $95 Million Loan for Affordable Transfers in Africa: TerraPay, a UK-based fintech company specializing in remittance transfers within Africa, has secured a major financial boost. The company has received $95 million in debt financing to improve the affordability,…
