Mobile internet technology thus carries the potential to empower and enable, all while meaningfully expanding the economy. Studies have found that a “developing country with an average of 10 more mobile phones per 100 population has 0.59 percent higher GDP growth than an otherwise identical country.” Mobile technology decentralizes the engine of progress into the hands of the participants that it enables to enter the marketplace. In 2010, the number of mobile phone subscribers was 350 million. However, as neighbours step forth across the chasm of the digital divide that persisted for years, many African countries are now leaping forth to catch up. Central to the emergence of these informal markets, as well as more sustainable internal transfers of money within local economies
What's a fake review? Exactly what it sounds like: a review posted by a company employee or anyone else with a vested interest in selling more product. Here's a great example: You're in the market for a GoPro-style action camera. A real GoPro will run you $200 to $400 in the US, but there are countless knock-offs priced as low as $40 to $50. But they can't possibly be as good, right? Well, they look like GoPros. They come with lots of accessories. And here's the kicker: high marks from dozens or even hundreds of reviewers. Sold! According to Fakespot, the dashcam gets an "F." But, wait, it might be perfectly decent product. It's just that a big chunk of the reviews failed to make the grade. Screenshot by Rick Broida/CNET ...
Facebook has suffered a near nonstop drip of bad news in 2018, and with each event advertisers have barely uttered a peep while continuing to spend. Recently with yet another revelation about the company's past data practices, one agency chief finally said enough is enough, while other ad agency senior executives say they are questioning how much consumers continue to trust Facebook and whether advertisements on the social network continue to be effective. Mat Baxter, the global CEO of ad agency Initiative, said in a post on LinkedIn that he was advising clients not to advertise on Facebook. "It’s about time we take a collective stand against the egregious behavior of Facebook," Baxter wrote. Baxter, who has head of Initiative oversees media buying and planning for Amazon,
McKinsey & Company has warned that Kenyan banks risk being crowded out of the daily payments and commerce space in financial intermediation by agile and innovative financial technology (fintech) companies and must act urgently to protect their turf, global consultancy. “In devising their strategies, banks could focus on owning the next generation payments landscape (for example contactless, QR, e-commerce etc) and building an ecosystem of value added services to recapture share in everyday commerce and transactions,” said Tawanda Sibanda, a partner at McKinsey. “Banks could also move first to serve the long-tail of underserved small and medium-sized enterprises (SMEs) in the market through entirely digital offerings.” The firm says, in its eighth annual review of the global bankin
In a new deal signed this Tuesday, Safaricom and Western Union have partnered to make cash transfers overseas easier for MPesa users at a cost between a minimum of Sh100 for a transaction of up to Sh5,000 and Sh500 for remitting offshore more than Sh35,000, Safaricom said. The partnership will see the more than 21 million of the globally-acclaimed mobile money service subscribers send a maximum of KES70,000 daily to family, friends and business partners abroad through the 500,000 plus Western Union’s agents in close to 200 countries. Western Union’s regional vice president for Southern, East and Anglophone West Africa Richard Malcom said, “This is real a game-changer, a first one in the world for us,” Mr Malcom said. “Kenyans who have children studying abroad can now send them money