IT News
Nigerian FinTech Kuda Bank Closes $55-Million Series B Funding Round
Image sourced from Tech Crunch. Kuda Bank, a Nigerian fintech startup has raised $55-million in a Series B funding round at a valuation of $500-million. Previously, the company announced it had raised $25-million during a round of Series A funding a little over four months ago. Co-leading this latest round of funding were existing investors Target Global and Valar Ventures – a firm co-founded and backed by PayPal co-founder, Peter Thiel. Joining them were SBI Investment and other previous participants. According to Kuda’s co-founder and CEO, Babs Ogundeyi, the startup aims to build a new take on banking services for “every African on the planet” – in service of these lofty goals, the startup is looking to use the funds raised during this latest round to build on its platform for Nigeria, a...
The High Cost of Cybercrime is Getting Higher
Image sourced from Finance Times. If cybercrime organizations could be publicly traded, we’d have an instant new multibillion-dollar industry sector. Indeed, cyber threats have become so pervasive that U.S. President Joe Biden recently signed an executive order aimed at improving federal cybersecurity in the wake of multiple significant cyberattacks, including the ransomware attack that shut down the Colonial Pipeline. Meanwhile, a broad coalition of experts in the industry, government, law enforcement, civil society, and international organizations have joined together in the Ransomware Task Force to build a framework for combatting ransomware. Ransomware attacks are only one method, however. Threat actors also use distributed denial-of-service (DDoS) attacks to ratchet up the p...
SMS Solutions Could Be Essential for an Inclusive Business Strategy
South African companies must take care not to inadvertently deepen the existing digital divide. Although COVID-19 and related lockdowns have accelerated a growing trend towards the digital economy such as artificial intelligence, in an unequal society such as South Africa, many consumers find it difficult to access data-intensive apps and processes. This makes it vital for local businesses to include different forms of technology in their business strategies to ensure their operations are running inclusively. An effective way to do this is by including SMS solutions in customer processes. Once seen as a luxury, mobile phones are now in the hands of 95% of South Africans, according to Geopoll, with data-hungry smartphones accounting for 91% of devices. However, data prices in South Africa a...
Why the Data Centre Industry Needs to Embrace Renewable Energy
Sourced from Shutterstock While investment in digital infrastructure is certainly a win for economic growth in South Africa and Africa as a whole, as is the investment in new data centres, this vital infrastructure needs substantial amounts of energy to function. In fact, it is estimated that data centres could consume a fifth of global electricity by 2025 and create 14% of carbon emissions by 2040. Data centres play a crucial role in today’s ever-accelerating Information Age – as the backbone of the digital economy and the very foundation of the world wide web, they are key to creating a platform for growth and encouraging investment in Africa. There have been several factors driving the demand for data centre infrastructure in South Africa and across the continent, includi...
4 Things Executives Should Definitely Not Do on Social Media
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Nigeria Finally Ready to Deploy 5G According to NCC
Image sourced from the Verge. Prof. Umar Danbatta, the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), says that all is now set for the rollout of 5G services across the country. The NCC’s greenlight for 5G rollout is part of the fulfilment of its commitment to “put Nigeria on the frontline as a technology-driven economy,” according to Vanguard Nigeria. Danbatta said that the Commission had finally completed its preparations – “crossed all the Ts and dotted all the Is” – and is currently awaiting approval from the Federal Government to begin rolling out 5G services. The announcement was made during a public inquiry on the draft frequency spectrum (fees and pricing, and annual operating levy regulations) held on Thursday in Abuja. Justifications for the NCC’s ...
How Digital Tech is Making Healthcare Smarter
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Windows 11’s First Beta Build Has Been Released
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Safaricom Wins Legal Battle for M-Pesa 1 Tap
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The 5 Digital Trends Transforming Higher Education in Africa
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Ports in SA Have Mostly Returned to Operations Following Transnet Cyberattack
Image sourced from News24. Ports in South Africa have mostly returned to normal operations, according to the country’s government. Last week, SA’s port operations authority, Transnet, was struck by a massive ransomware attack that crippled its digital systems leaving South Africa’s key container terminal in disarray. “The return to operations is good news for the economy, as the Transnet ports and rail system are the backbone of the economy,” the ministry for public enterprises shared in a statement on Wednesday. Transnet was left with no choice but to declare force majeure following the cyberattack on 22 July 2021. Force majeure is a legal clause that wavers any liability from Transnet for not being able to provide promised services for its clients. The clause is usually reserved for “act...
Elon Musk’s Neuralink Brain-Computer Devices Raise $205-Million
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