Investment in fintech sector is seen as an investment hot ticket. While the 2015 edition of the EY FinTech Adoption Index estimated that fintech was still in its infancy, the 2017 edition found that adoption had risen dramatically to one in three. “But while it’s clear that digital start-ups and first round investments in fintech are growing and that the digital revolution in banking is well and truly here, what hasn’t yet been mapped is the impacts on banking’s biggest players,” says Mark Fitzgerald, Director – Government and Enterprise at FaceMe. In its report, Banking disrupted, Deloitte suggests that the future of European retail banks is looking rather grim. Rocked by the wake of the financial crisis and the ongoing shakings of re-regulation, retail bankers face the threat of to
It is time for a new approach to security. Today’s dynamic threat landscape demands a security strategy that focuses on the threat itself more than simply prevention. One that doesn’t continue to simply stick band-aid over band-aid, until a cat’s cradle of fixes and patches becomes a management nightmare. Meanwhile, the organisation’s systems remain vulnerable to new, increasingly smart, attacks. Findings from the recent The Cisco 2018 Security Capabilities Benchmark Study reveal that more than nine out of ten (94%) companies surveyed in the Middle East and Africa have suffered a breach in the last year, with nearly a half (48%) experiencing more than $500,000 (around R6.2 million) in damage. The good news is that companies in the region are taking a progressive approach to tackling
President Uhuru Kenyatta enacted Computer and Cybercrimes Bill, 2017 citing a two year jail term or Kshs 5 million fine for spreading fake news. The President’s decision is facing protests with many Kenyans claiming it is a move to suppress not only media freedom but citizens’ freedom of speech. The new law also provided for offences relating to computer systems, cyber espionage, false publications, child pornography, computer forgery, computer fraud, cyber stalking and cyber bullying, aiding or abetting in the commission of an offence. Offences relating to computer systems, a fine not exceeding five million shillings or to imprisonment for a term not exceeding three years, or to both. Cybersecurity cost Kenya over Sh21.2 billion in 2017 coming a close second to Nigeria tha
Selina Wamucii’s mobile phone-driven sourcing platform for fresh produce from Kenyan smallholder farmers, has received USD 100,000 grant from global social impact programme Expo Live, run by organisers of the next World Expo, Expo 2020 Dubai. Some 60 per cent of food produced by smallholder farmers in Africa never reaches the market due to supply chain inefficiencies. Selina Wamucii’s mobile platform aims to improve the agricultural supply chain by enabling buyers and exporters to source fresh produce directly from smallholder farmers, even without access to the internet. Selina Wamucii was founded in June 2015 by John Oroko and Gaita Kariuki, both of whom were born and raised in smallholder families. The company is named after the co-founders’ mothers. By shortening the supp
Almost 20 years ago, approximately 400 million people in Sub-Saharan Africa had no access to electricity. Today, the number of people without access has increased, as the population growth has outpaced infrastructure development. As a result, there are over 600 million people with no access to electricity today. The lack of access to electricity is a particular problem in rural areas. Around 63% of the population in Sub-Saharan Africa is rural, of which only 19% has access to energy, compared to 63% of the urban population. Access to clean and affordable energy is critical for development; it is vital in powering water supplies, telecommunication services, health care, education and of course, preserving the environment. Moreover, it could be the catalyst for economic developm...