Business: Latest News
Peter Pedroncelli, 6:35 pm
Aaron Fu was recently appointed as the new managing director of Meltwater Entrepreneurial School of Technology, a training program, seed fund and Africa’s largest tech incubator based in Ghana. The incubator has links throughout Africa, and since launching in 2008 it has already invested over $20 million in African startups. Over 350 individual entrepreneurs have graduated from the training program and over 30 tech startups have been launched thanks to its support.
Peter Pedroncelli, 6:40 am
South Africa’s fintech adoption rate is expected to experience a surge in the near future, with the country’s uptake of fintech services set to be greater than the global average. Africa’s most industrialised economy is forecast to enjoy a future fintech adoption rate of around 71 percent in the coming years, which is far higher than the average global growth rate of 52 percent, according to global accounting and consulting firm Ernst and Young.
Peter Pedroncelli, 6:38 pm AFKI Original
The World Bank Group is committed to supporting the growth of Africa’s digital economy through XL Africa, a business acceleration initiative that is providing a raft of benefits for the 20 most promising startups in sub-Saharan Africa. These African digital entrepreneurs have an opportunity to be mentored by various global specialists, increase their visibility on the continent and receive access to corporate partners and investors.
Peter Pedroncelli, 7:37 am
Somalia’s first innovation tech hub is set to open in Mogadishu this September, supporting the growth of tech startups in the country. The tech hub based in the country’s capital will be called iRise Hub, and will provide a co-working space, as well as research, incubation, and acceleration services for new startups. While connecting, collaborating and sharing ideas, Somali entrepreneurs at iRise Hub will aim to further develop the tech sector in the country.
Peter Pedroncelli, 4:45 am
The new dotAfrica internet domain continues to attract interest, with thousands registrations taking place for the top-level domain. The dotAfrica top-level internet domain attracted over 8,000 registrations since its launch in July this year, displaying a popularity for the domain among businesses, organisations and individuals, with brands such as banks and media companies ensuring that they captured a domain for themselves.
Peter Pedroncelli, 6:15 am
The Johannesburg Stock Exchange is set to welcome a new tech listing in October, with data technology company 4Sight Holdings joining the South African bourse next month. The development represents the first new tech listing on the Johannesburg Stock Exchange in almost three years, with 4Sight Holdings listing on the JSE’s Alternative Exchange – AltX. The last JSE tech listing was Cartrack in 2014.
Peter Pedroncelli, 6:14 am
Malaysian subscription streaming video service iflix, which is focused on emerging markets, has officially launched its services in Ghana as part of the company’s expansion into Africa. Customers in Ghana will now be able to sign up for the video-on-demand services from the Netflix competitor, which is focused on the lower end of the streaming market, launching its operations with mobile networks as partners.
Staff, 8:52 am
The IFC is investing $6M into Africa’s Talking, an African mobile tech provider. The Nairobi-based start-up offers bulk SMS, short code and premium SMS, in addition to customized mobile messaging solutions for its customers. The IFC is the largest global development institution focused exclusively on the private sector in developing countries. The funds have been earmarked for the expansion of Africa’s Talking, with the IFC aiming to help it utilize more markets than the current seven countries.
Staff, 8:25 am
For a young Youssri Helmy, it was a Tandy Radio Shack 80 that first piqued his curiosity in technology. For Wael Amin, it was the Commodore 64 that he received when he was four years old. Youssri and Wael developed a passion for using technology to solve some of the world’s toughest problems, and put that passion to work by founding an Egyptian technology company called ITWORX, a firm that would grow to employ over 800 people with 8 offices. For Youssef Aly, it was an MSX computer he programmed.
Staff, 8:08 am
Social media giant, Facebook, announced on September 6, 2017, that the company has begun the roll-out of Developer Circles in South African cities; Durban, Cape Town, Johannesburg and Pretoria. The project, which was launched at Facebooks Developer Conference (F8) in April 2017, now comprises of over 70 initiatives around the world, the four South African circles join other African countries in Cairo, Casablanca, Dakar, Harare, Lagos, Nairobi and Tunis.
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