Business

Automakers benefit from new-age tech.

Automakers benefit from new-age tech.

Business, Governance, Technology
Even before the coronavirus spread around the world, automakers were questioning the resiliency of a globally linked supply chain that had been ground to a halt by components production bottlenecks in China. They now have to attract buyers back into the new vehicle industry, despite mounting evidence that demand for new vehicles was already declining. From manufacturing to sales to distribution, India's car industry is leveraging technology to improve productivity and profitability across processes and platforms. Covid-19 hit several industries hard and forced firms to pivot, innovate and adopt new technologies at a much faster pace. This digital transformation equipped them to meet emerging customer demands across touchpoints. The automotive industry was no exception to all this. ...
African Banks Adopt IBM Hybrid Cloud to expedite Financial Inclusion

African Banks Adopt IBM Hybrid Cloud to expedite Financial Inclusion

Business, FinTech, Internet, Technology
IBM Hybrid Cloud for Financial Services is developed to assist institutions to address security, and resiliency requirements while supporting business transformation and innovation.   This has led banks across Africa including EcoBank, Attijariwafa Bank, United Bank of Africa, Co-operative Bank of Kenya, Nedbank, and Banco Mais to turn to IBM technologies to help advance financial inclusion across the continent. This shows that African banks acknowledge the significance of digital banking in their growth strategy. Improved access to digital services can help increase the financial inclusion of many consumers across the continent while supporting local economies. Financial institutions across Africa have selected hybrid cloud and AI capabilities from IBM to unlock digital innovation and
Facebook Virtual Reality Meeting App

Facebook Virtual Reality Meeting App

Business, Internet, Technology
Facebook has launched a test of a new virtual-reality remote work app where users can hold meetings as avatar versions of themselves. This app aims at reinventing virtual office spaces. It looks like many of us may be working home for even longer than we initially imagined due to Covid 19 pandemic. Facebook has invested heavily in virtual and augmented reality, developing hardware such as its Oculus VR headsets, working on AR glasses and wristband technologies, and buying a bevy of VR gaming studios, including BigBox VR. The company predicts that this will be the next big computing platform. This will allow it to be less reliant in the future on other hardware makers, such as Apple, the company has said. To get started inside Horizon Workrooms you'll need to buy an Oculus VR h...
Huawei calculated move  to boost its global business prospects

Huawei calculated move to boost its global business prospects

Business, FinTech, Internet, Mobile, Technology
Huawei calculated move to boost its global business prospects Global technology firm Huawei has embarked on a bold product and services review and enhancement program. This was as part of its business growth strategy to facilitate a fully connected, intelligent world. The finetuning program is geared at enhancing the firm’s digital technologies delivery capacity in the face of the global business challenges arising from the Covid-19 pandemic, among other geopolitical and economic challenges. Speaking when he addressed the Huawei 18th Global Analyst Summit following the recent release of the firm’s 2020 Annual report, Huawei Rotating Chairman Mr. Eric Xu said the firm’s 2021 growth strategy is anchored on five strategic initiatives. The initiatives are geared at optimizing the
Safaricom becomes the first institution to offer 5G Network services in East Africa

Safaricom becomes the first institution to offer 5G Network services in East Africa

Business, Internet, Technology
Safaricom becomes the first operator to offer commercial and superfast 5G network services in East Africa. Safaricom plans to partner with the government and corporates in revving up its newly launched 5G mobile Internet services. To deepen innovation in the health and agriculture sectors. This will be a success through value addition in other sectors and platforms. The telco on Friday launched the upgraded network in major urban centers including Nairobi, Kisumu, Kisii and Kakamega, all of which routinely witness increased data traffic. “The 5G network heralds the era of intelligent connectivity and will be a key driver of this strategy by enabling us to build on the investments and successes of the last two decades to catapult Safaricom to the next level as we enable digital
Kenya Trade Ministry partnership to bridge digital skills gap

Kenya Trade Ministry partnership to bridge digital skills gap

Business, Governance, Startups, Technology
Kenya Government has partnered with Stanbic Kenya Foundation and Microsoft Kenya to impart over 50,000 entrepreneurs with digital skills. The partnership signed between the Ministry of Industrialization, Trade and Enterprise Development and Stanbic Kenya Foundation is going to enhance the employability of MSMEs and Kenyan citizens through digital upskilling. The partnership role to address digital skills gap. It will see private sector players address a digital skills gap within the market through the rich digital learning and skilling Initiative. The programme will target individuals who have lost their jobs during the COVID-19 economic downturn. Stanbic Bank and Microsoft Kenya will roll out the programme across the various counties in Kenya with support from the Ministry an...
Stripe Acquires Paystack

Stripe Acquires Paystack

Business, FinTech, Mobile, Startups
Payment processing giant Stripe has acquired Nigerian startup Paystack in a $200M+ deal. Stripe seeks to expand into the African Market in its bigger strategy announced earlier this year to expand its API- based payment processing services to more regions.   Paystack, like Stripe offers online payment integration services using APIs to facilitate transactions. To date, Paystack has approximately 60 000 customers ranging from small businesses, fintechs to large corporations. The acquisition makes it the biggest startup acquisition in Nigeria as well Stripes biggest acquisition to date. Valued at $36 Billion, Stripe is actively expanding its global presence through acquiring smaller companies in different regions. In the last 2 years, stripe has expanded its operations t...
Dubai tech payment firm ‘Mondia Pay’ eyes Kenya

Dubai tech payment firm ‘Mondia Pay’ eyes Kenya

Business, Technology
Mondia Pay, Mondia’s digital payment entity, announced it recently onboarded a series of new clients and is fast becoming the preferred digital payment solutions provider for telecom operators across Africa. “The African operators we are talking to are all seeing an increase in payment purchases for digital services and they are keen to get ahead of the curve to capitalise on this opportunity,” said Mondia Pay founder-chief executive Simon Rahmann. The Dubai-based digital payment provider Mondia Pay has initiated talks with local telecommunication operators, setting its eyes on the lucrative intra-Africa e-commerce business. The firm, handling 1.3 billion accounts in 48 countries in partnership with 80 telco operators, said Kenya, Mozambique, Ethiopia, the Democratic Republic of C
Africa’s COVID-19 numbers hit 700,000; deaths near 15,000

Africa’s COVID-19 numbers hit 700,000; deaths near 15,000

Business
Highest Covid-19 cases recorded in South Africa Africa’s caseload has crossed the 700,000 mark as of today. Half of the cases are recorded in South Africa where there are over 350,000 confirmed cases. As of last Friday (July 17), the WHO Africa region reported that there had been a 27% increase in the number of confirmed cases of COVID-19 in the region. 10 countries account for 88% (440,672) of all reported COVID19 cases in the African Region: South Africa, Nigeria, Ghana, Algeria, Cameroon, Côte d’Ivoire, Kenya, Senegal, Ethiopia & DRC, a WHO Africa situation report noted. “Sub-Saharan Africa hosts more than 26% of the world’s refugees and around 19 million internally displaced people. It is in the interest of peace, international security and equity that all countries &am
Ecobank Group named Africa’s Best Bank for Corporate Responsibility by Euromoney

Ecobank Group named Africa’s Best Bank for Corporate Responsibility by Euromoney

Business
The leading pan-African banking group, Ecobank, has won the coveted prize of Africa’s Best Bank for Corporate Responsibility in the Euromoney Awards for Excellence 2020. Euromoney recognises Ecobank’s focus on sustainability and partnerships and its core capabilities in delivering positive social and environmental outcomes across Africa. 'The Ecobank Foundation is doing amazing work in delivering on its commitment to improve the quality of life of people across the African continent. The Foundation should be rightly proud of its ceaseless impact and the real difference that it is making in numerous parts of the continent. Through the Foundation, our Group leverages its resources and capabilities to contribute to the economic and social development of Africa.' Ade Ayeyemi, CEO of Ecoban