Business: Latest News

  • Fitbit Ionic Smartwatch Debuts In South Africa

    Fitbit By Staff, 7:24 am

    The Core Group has launched Fitbit’s first smartwatch in South Africa. Fitbit Ionic, a cross-platform high-end smartwatch, is available from a variety of retailers across South Africa.Fitbit Ionic was designed to work across all of the prominent platforms making it ideal for users who want to choose their smartwatch independently of their smartphone. In addition to the usual functionality found in high-end devices, Fitbit’s smartwatch has a multi-day battery life and incorporates new technology.

  • What’s Behind Bitcoin’s Rise In Africa

    bitcoin By Staff, 8:37 am

    “Welcome to the System! Together we will change the world!” These are the words I found scrawled at the bottom of a web page, right next to a picture of Sergei Mavrodi, a convicted Russian fraudster infamous for operating Mavrodi Mundial Moneybox (or MMM), one of the world’s largest ponzi schemes. Two decades after MMM was shut down, the organization reemerged under new branding, as a technology-driven “financial mutual-aid network” that uses Bitcoin to provide its members up to 100% returns.

  • Missed Opportunities: Silicon Valley Ignoring Africa Startups, TechCrunch Says

    Silicon Valley By Staff, 7:49 am

    Silicon Valley is ignoring Africa’s startup scene, passing up an opportunity to invest in creating innovative technology-based businesses on the continent, according to TechCrunch Inc. “Silicon Valley does not understand the context of Africa, so we see it as an opportunity to fill the gap,” Edward Desmond of Verizon Communications said in an interview Wednesday in the Kenyan capital, Nairobi. “The outside world that is very powerful does not know the innovation and possibilities available.”

  • Swedish Mobile App Truecaller Expanding Operations In Africa

    Mobile App - Truecaller is expanding operations in Africa. Photo - TruecallerBlog By Peter Pedroncelli, 7:12 am

    Truecaller, a mobile app that provides the identity of unknown callers, has announced an expansion plan for Africa that will see it become a priority region for the Swedish company. The Scandinavian firm will be hiring key African personnel, and it will also decide on a location, either in South Africa or Nigeria, where its African headquarters will be set up. Truecaller is the world’s largest verified mobile phone community dedicated to helping users to avoid and block spam calls.

  • Uber Announces $20 Million Investment In Egypt

    Uber To Invest $20M In Egypt Support Center Over The Next Five Years By Staff, 2:40 am

    Uber is committed to Egypt despite challenges presented by sweeping economic reforms and record inflation, the company said as it announced $20 million of investment in its new center in Cairo. The Egyptian pound has lost half its value and fuel prices have jumped by up to 50 percent since the North African country floated the currency in November as part of reforms demanded by the IMF in exchange for a $12 billion loan aimed at reviving the economy. Egypt has been luring back foreign investors.

  • Why A Global Private Airline Should Be The Next Step In African Aviation

    Ethiopian Airlines is an example to the African aviation industry. Image: addisababaonline.com By Kurt Davis Jr., 6:04 am AFKI Original

    Today the airline industry in Africa is drastically different from a decade ago. The economic growth in the region and improved political stability underpin increased international traffic on the African continent, and perhaps it is time for Africa to have its own global private airline. Estimates place Africa as the third fastest growing region in this category, trailing only the Middle East and Asia Pacific.

  • Early Tech Adopters In Africa’s Fashion Industry Are Poised For Disruption

    Fashion industry - Mettā Fashion Product Lab to support fashion entrepreneurs in Kenya. Photo - DisruptAfrica By Tom Jackson, 1:51 am AFKI Original

    The African tech accelerator space and the continent’s fashion industry might seem as far apart as any two spaces could possibly be, but this is changing. There are even accelerator programmes now – one such being Metta in Kenya – for fashion designers to apply tech to their businesses. Tech in fashion is helping to prepare the next generation of designers, assisting them by using information and communication technology to sell more of their products while gaining better visibility.

  • 10 Fintech And M-Commerce Apps In Contention For AppsAfrica.com Awards 2017

    Fintech and m-commerce apps By Peter Pedroncelli, 1:15 am AFKI Original

    The shortlist of finalists for the Appsafrica.com Innovation Awards 2017 was recently announced, with a number of apps considered in the fintech and m-commerce categories. The awards celebrate the best in mobile and tech ventures from across Africa, with various categories included to recognize mobile apps that impact numerous industries and sectors. The annual awards attracted over 300 submissions from across 31 countries, with the winners announced at the awards party in Cape Town on Nov. 6.

  • Tech Startup Andela Secures $40M In Funding To Connect African Coders With US Firms

    African startups - connect African coders By Peter Pedroncelli, 5:51 am

    Andela, a startup that trains and outsources African coders to work for global firms, has secured a Series C round of funding to continue the company’s expansion. The Lagos and Nairobi-based startup that recruits Africa’s best software developers has successfully raised $40 million in the most recent round of funding. The substantial investment was led by Pan-African venture firm CRE Venture Capital, while other investors include DBL Partners, Amplo, Salesforce Ventures, and Africa-focused TLcom Capital.

  • Somalia Opens First Innovation Tech Hub To Support Local Startups

    Somalia's first ever innovation tech hub, iRise, has launched in Mogadishu. Photo - Techcabal By Peter Pedroncelli, 5:24 am

    Somalia’s first innovation tech hub has officially opened in Mogadishu, supporting the growth of tech startups in the African country. The tech hub in the Somali capital is called iRise Hub, and it provides a co-working space, as well as research, incubation, and acceleration services for new startups. This is a first for Somalia, but Tech hubs continue to drive innovation across Africa, with 314 hubs currently operational in 93 cities across 42 countries.

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