Tag: africa

INFLATION IN AFRICA

INFLATION IN AFRICA

Business, Domains
INFLATION IN AFRICA INFLATION is the increase in prices over a given period. In Africa, Sudan had the highest inflation as of 2022. The rate reached roughly 245 percent, according to the source's estimates. Inflation in Africa is driven by the pressure of the economic crisis and political instability. Inflation in Sub-Saharan Africa was set to reach 12.2 percent in 2022. In North Africa, prices also increased constantly from 2020 to peak in 2022. It has become a nightmare for Africans. Economies worldwide, including those in Africa, still deal with supply disruptions caused by the coronavirus (COVID-19). Reasons for inflation are the price of imported goods and the price of petrol. An increase in petrol leads to an increase in transport costs, which will impact the cost of all
3 simple mobile Trends Set to Dominate African  Apps

3 simple mobile Trends Set to Dominate African Apps

Business, FinTech, Mobile, social media, Startups, Technology
3 simple Trends Set to Dominate African MOBILE Apps in 2022. In 2021, the mobile industry in sub-Saharan Africa continued to show incredible resilience against the impacts of Covid-19 and experienced high growth. Digital solutions have provided instrumental support for communities and businesses, boosting their transition into adopting a mobile-first approach to tackle most of the daily challenges across the continent, with fintech applications dominating this surge. According to the Mobile Economy Report, 615 million people in Sub-Saharan Africa will subscribe to mobile services by 2025, that’s equivalent to 50% of the region’s population. As we enter into a new year, Daniel Junowicz, RVP EMEA & Strategic Projects, a leading mobile marketing analytics platform AppsFlyer, explore
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...
Fintech in Africa

Fintech in Africa

FinTech, Mobile, Startups
  FinTech space is fast growing in Africa. The continent has recorded massive growth in the last decade. Currently Africa has more than 400 FinTech companies and startups of which more than 80% of them are home-grown. The industry is largely dominated by payment, lending, insurance and investments focused solutions.     The growth is attributed to mobile access and penetration in the continent and lack of financial inclusion to traditional banking leaving majority (Approximately 60%) of the African adult population unbanked.     In Kenya, M-Pesa mobile money service provided by Kenya’s biggest telecommunication company Safaricom PLC has been a massive success in providing mobile payment solutions allowing users to pay bills, send money
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 Rep
Africa can now predict weather related disasters

Africa can now predict weather related disasters

Internet, Startups, Technology
Most African countries have lacked good forecasting methods as weather becomes increasingly extreme A new weather forecasting system in Africa allows meteorologists to track approaching storms in real time, potentially saving lives from climate-related disasters, scientists said on Monday. The technology is already used in developed countries but was not available until recently in most of sub-Saharan Africa, according to scientists behind the project at the University of Leeds. "We had forecasting methods before but they were not as good," said David Koros, principal meteorologist at the Kenya Meteorological Department. "It's very important because we can issue information for the safety of lives, property and the environment," he told the Thomson Reuters Foundation. The new method, ...
Africa’s COVID-19 numbers rises

Africa’s COVID-19 numbers rises

Business, Domains
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 &
Kenyan company, Usiku Games, has launched a video conferencing platform: Gumzo

Kenyan company, Usiku Games, has launched a video conferencing platform: Gumzo

Internet, Mobile, Startups
A Kenyan gaming company has launched a web-based video conferencing platform, Gumzo, which it describes as the first made in Africa video conferencing platform. Gumzo, which means "chatting" in Swahili, costs users $1 per week to access. How Gumzo works Gumzo has unlimited talk minutes and can accommodate an unlimited amount of users, according to Jay Shapiro, CEO of Usiku Games which created the platform. It has options of screen sharing and full-screen presentation mode, he added. Unlike many video conferencing applications, it has no app to download or extensions to configure. Its calls happen in the browser so they can work on any phone or computer with internet access. Shapiro says one of the problems Gumzo addresses is poor network quality. Most video conferencing...

UN Report says 3.2 Billion People Now Online, but Number Still Falls Short of Internet Target

Internet
Some 3.2 billion people are now online, representing 43.4 per cent of the global population, but the number still falls significantly short of reaching the anticipated goal of 60 per cent by 2020, according to a United Nations report released today. While the proportion of households projected to have Internet access in 2020 will reach 56 per cent, exceeding the 'Connect 2020' target of 55 per cent, only 53 per cent of the global population will be online in 2020, the report found, ranking the Republic of Korea first in the information and communication technology (ICT) 2015 Development Index (IDI). Africa ranks worst, with 29 of 37 countries in the IDI's bottom quarter, and 11 figuring last out of 167, illustrating the importance of addressing the digital divide between the continent and...

‘3G Direct Pay’ unveils Africa-wide mobile money service

Business, Mobile
3G Direct Pay has launched a new platform that enables cross border payments across different mobile networks. Reports Capital Business The new service is available to mobile phone subscribers in over five African countries, who can now pay and be paid across different mobile carriers. The platform will support numerous Mobile Money Wallets including – M-Pesa, Airtel Money, Tigo Pesa, Vodacom, and MTN. Merchants, working with 3G Direct Pay, will be able to conveniently accept payments in real time and will be able to use all cards, bank transfer and paypal from the same single connection. “We have seen an increased desire for people to be able to safely pay to merchants via mobile money accounts across networks and borders,” said Eran Feinstein, Managing Director, 3G Direct Pay Limite