Tag: africa

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...
Kenya counts on innovation to boost health, agriculture

Kenya counts on innovation to boost health, agriculture

Technology
Kenya is exploring the use of technology in health and agriculture to build infrastructure and create sustainability in the two sectors. The government has already begun the adoption of technology in the Universal Health Coverage as well as in the agriculture data centre to be opened by the Kenya Agricultural and Livestock Research Organisation (Kalro). “Technology plays an important role in issues of universal health coverage (UHC), telemedicine, and distribution of drugs using drones,” said Principal Secretary ministry of ICT, Jerome Ochieng. Mr Ochieng, who was speaking during the Dell Technologies Regional ICT Conference, said uptake of the new technology will pave way for precision agriculture, which is key in food sustainability. “Precision agriculture is whe
Benin Internet taxes would have cut active mobile broadband subscribers by 20%- Study

Benin Internet taxes would have cut active mobile broadband subscribers by 20%- Study

Governance, Internet, social media
In September 2018, the Benin government proposed a tax on over-the-top services. The proposed tax was two-fold: a 5% tax on the pre-tax price for voice, SMS and internet services and a 5 CFA fee per MB for data used to access social media and OTTs. This move was the latest case in a recent trend among governments to impose consumer-related taxes on internet access with the goal of raising revenues and in some cases stifling free speech. A4aI's previous analysis from Uganda showed that a social media tax (a daily fee to use over-the-top (OTT) services such as Facebook, WhatsApp, Twitter, and Viber) increased costs by as much as 10% for low-income groups. Additional research from CIPESA suggested the tax led to a decrease in the number of people using the internet.   Key find
Africa in the Digital Era – Hype or Reality?

Africa in the Digital Era – Hype or Reality?

Business, Internet, Startups, Women
Former Nigerian Minister for Communications Technology, Dr Omobola Johnson, delivered the UN Economic Commission for Africa’s (ECA) annual Adebayo Adedeji at the ongoing Conference of Ministers in Marrakech. Held in memory of the Nigerian scholar Adebayo Adedeji – arguably one of Africa’s leading proponent of regional integration – the lecture focused around the question of digital transformation in Africa: Hype or Reality? “There is enough evidence that Africa can be digitally transformed. But what is holding us back? asked Dr Johnson when she delivered the lecture to ministers and a host of experts attending the Economic Commission for Africa (ECA) Conference of Ministers. As the world-wide-web celebrates 30 years, its inventor Tim Berners-Lee told a Nigerian audie
Global internet access is plunging fast due to high cost of data, billions remain offline

Global internet access is plunging fast due to high cost of data, billions remain offline

Broadband, Internet
The internet today is central to our lives. Many depend on the web to shop, bank, learn, work, date and play to a degree unimaginable even ten years ago. On the odd occasion our connection goes down we panic. Suddenly hundreds of simple day-to day tasks become inordinately difficult or time consuming. Yet, that's life for over half the world’s population which is still offline. The latest UN figures show that the rate of people getting connected is slowing. In 2007 people came online at a rate of 19 per cent annually. Last year this dropped to just 6 per cent – and the rate of growth is projected to fall further. A new report by the Alliance for Affordable internet says over two billion people live in countries without affordable internet. That means getting connected to the internet