Internet

Safaricom to target new liberalizing markets once it fully acquires MPesa from parent Vodafone

Safaricom to target new liberalizing markets once it fully acquires MPesa from parent Vodafone

Business, Internet, Mobile
Safaricom is working on a joint venture with Vodacom Group to acquire the MPESA brand from Vodafone. The deal, when finalized, will cost the two companies $13.4 million. According to Collymore, acquiring the rights to MPESA will allow the partners to expand the platform’s footprint in Africa and develop more local products. “We are watching Ethiopia closely because as we see the liberalization of the markets, both the mobile payments market, the telecoms market and the banking sector, we think there could be opportunities,” Collymore said. Speaking to The Africa Report in February, Collymore had said a successor should be, “Someone who understands the financial sector a lot more, if we are to occupy the fintech space, and someone who is not going to be scared of going into other mark
UK cybersecurity official says China’s Huawei needs to raise its “shoddy” security standards

UK cybersecurity official says China’s Huawei needs to raise its “shoddy” security standards

Cyber Security, Governance, Internet
China’s Huawei Technologies needs to raise its “shoddy” security standards which fall below rivals, a senior British cyber security official said on Thursday, as the company came under increasing pressure internationally. The US has led allegations that Huawei’s equipment can be used by Beijing for espionage operations, with Washington urging allies to bar the company from 5G networks. British officials have also raised concerns about security issues but said they can manage the risks and have seen no evidence of spying. Huawei has repeatedly denied the allegations against it. “Huawei as a company builds stuff very differently to their Western counterparts. Part of that is because of how quickly they’ve grown up, part of it could be cultural – who knows,” said Ian
Why Tech giants like Google and Microsoft are flocking to Africa

Why Tech giants like Google and Microsoft are flocking to Africa

Business, Internet, Technology
Now approaching 226 million, the number of smartphone connections across Africa has doubled over the last two years, according to a report published by GSMA on Africa's mobile economy. This leap coupled with the growing number of technology hubs and companies in major African cities is a boon for tech investors. It's why Microsoft and Google are not the only international technology companies staking their claims on the continent. Thanks to one of Google's many products, TensorFlow, rural farmers on the continent can diagnose diseased plants by taking a photo of it. TensorFlow came with the launch of Google's artificial intelligence (AI) center in Accra, Ghana's capital city earlier this year. The center, one of the multinational tech company's many investments in Africa, is compr...
Are all IPOs Created Equal? Jumia called a Fraud. Citron Exposes the Smoking Gun Equity is Worthless

Are all IPOs Created Equal? Jumia called a Fraud. Citron Exposes the Smoking Gun Equity is Worthless

Business, Internet, Startups, Technology
Andrew Left, Founder of Citron Research, has released a report stating that they have a "smoking gun" which proves that JUMIA is a fraud and that the stock is worthless. JUMIA shares, at the time of publishing, were down 20% on the day on the New York Stock Exchange (NYSE).The e-commerce company which operates across several African markets and is popularly (or infamously, depending who you ask) known as the "Amazon of Africa", listed on the NYSE earlier in 2019 to much fanfare and a $1 billion valuation."In order to raise more money from investors, JUMIA inflated its active consumers and active merchants figures by 20-30% (FRAUD). The most disturbing disclosure that JUMIA removed from its F-1 filing was that 41% of orders were returned, not delivered, or cancelled. This was previously dis...
It’s time to break up Facebook opines Facebook co-founder Chris Hughes

It’s time to break up Facebook opines Facebook co-founder Chris Hughes

Business, Cyber Security, Governance, Internet, Mobile, social media
Chris Hughes helped Mark Zuckerberg transform Facebook from a dorm-room project into a real business. Now, he's calling for the company to be broken up.In a lengthy opinion piece published Thursday by the New York Times, Hughes says that Zuckerberg has "unchecked power" and influence "far beyond that of anyone else in the private sector or in government."It's time, he writes, for regulators to break up Facebook (FB). "Mark is a good, kind person. But I'm angry that his focus on growth led him to sacrifice security and civility for clicks," writes Hughes. "I'm disappointed in myself and the early Facebook team for not thinking more about how the News Feed algorithm could change our culture, influence elections and empower nationalist leaders," he continues. "And I'm worried that Mark has su