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African Business Arena considered more ideal for startups

African Business Arena considered more ideal for startups

Startups, Uncategorized
When investors set to identify locations to invest, Africa is less likely to come to mind yet the investment scene in Africa has experienced a surge of activity over the last few years, fueling speculation that Africa could be the next big startups hub. Innovation has accelerated with new ideas and technologies spreading across the region. Among the sectors that have really thrived in Africa are eCommerce and mobile industries. In addition, sub-Saharan Africa was estimated to see GDP growth of around 5% in 2014. This has been realized with the economic scene  evolving rapidly. That’s substantially faster than the developing-country average. According to focus economics, Africa expects an economic growth of 3.2% in 2017. In addition, the African population is more quick to adopt new s
Fundi introduces innovative technology for schools

Fundi introduces innovative technology for schools

Business, Technology, Uncategorized
South Africa’s innovative leading education fund administrator has recently introduced a cashless system in the form of a bracelet to digitise payments for primary school pupils. Fundi’s bracelet, FundiPay allows parents to load pocket money into a learner or student’s account that is managed through a smartphone app, with transactions made through the child’s rubber wristband. Speaking at the Education Innovation Summit 2018 at the Hilton Hotel, Sandton, CEO of Fundi, Amasi Mwela says the company saw an opportunity in the high volumes of cash that flow at primary schools and it can also avoid bullying. “Fundi Pay’s payment solution is different in that it eliminates the need for a point-of-sale machine, as transactions are made using the merchant’s smartphone.” “Our innovative te
Microsoft Officially Launches Azure Cloud Data Centers

Microsoft Officially Launches Azure Cloud Data Centers

Uncategorized
Microsoft has finally launched its two Azure cloud data centers in two big cities in South Africa; Cape Town and Johannesburg. With the new data centers, Azure resellers in South Africa are now able to provide enterprise-grade reliability and performance using local data residency. Natasha Bezuidenhout, Microsoft Brand Executive at First Distribution said: “It has been Microsoft’s experience that local data center infrastructure supports and stimulates economic development for both customers and partners alike.” She added, “Local data centers take the benefits of the cloud a step further, bolstering the technology ecosystem that supports local innovation and business, and offering enterprise-grade reliability and performance with local data residency, which is important f
Canada’s Crypto exchange cannot repay $190m to clients because founder died with their passwords

Canada’s Crypto exchange cannot repay $190m to clients because founder died with their passwords

Uncategorized
Canada's leading cryptocurrency exchange company has said it cannot repay $190m (£110m) to clients because its founder died with their passwords. QuadrigaCX's founder Gerald Cotten, 30, died "due to complications with Crohn's disease" while travelling in India to open an orphanage in December, his wife Jennifer Robertson said. Skynews reported Mr Cotten held "sole responsibility for handling the funds and coins" and no other members of the team could access the stored funds, she said in a sworn affidavit as she filed for credit protection on 31 January. Ms Robertson said about $190m (£110m) in both cryptocurrency and normal money is in "cold storage" - where the company, or just Mr Cotten in this case, holds the key, not the client. The founder held "sole responsibil
Unlocking the Potential of Mobile Technology in Africa

Unlocking the Potential of Mobile Technology in Africa

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Mobile internet technology 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