Morocco: Latest News
Staff, 9:51 pm
Morocco launched its first observation satellite in a move aimed at boosting intelligence-gathering capabilities.The Mohammed VI-A satellite launched from Kourou in French Guinea on a Vega rocket built by Airbus Defense and Space and Thales Alenia Space. The satellite can be used for civilian and security purposes, mapping and surveillance of borders and coastline. Rabat is expected to launch another in 2018.Morocco is the third African country to launch a satellite after Egypt and South Africa.
Peter Pedroncelli, 5:41 am
E-commerce giant Jumia have expanded their online small business loans program to more markets across the African continent. Jumia, Africa’s first startup unicorn, has extended the program they launched in May, providing the small scale loans to merchants in all of the African countries in which it operates. Jumia has partnered with San Francisco-based mobile lender Branch to provide the loans to vendors, with the program proving successful in Kenya since May.
Peter Pedroncelli, 5:13 am
Uber is committing itself to the Egyptian market despite economic difficulties in the country, announcing a new support center in the capital that will see an investment of $5 million. The taxi-hailing startup has launched a support center in Cairo, with $5 million set to be spent on the project over the next five years, creating employment for 700 Egyptians as a result. Uber had two million users and provided jobs for 60,000 drivers in Egypt last year.
Peter Pedroncelli, 6:30 am
WorldRemit, an international digital money transfer business, and Wafacash, a Morocco-based financial services firm have partnered in order to provide instant money transfers to a growing set of African markets. The Moroccan money transfer market-leader and the global remittance company already work together in Morocco and Senegal, but this extended partnership will see their combined operations expanded to serve Cameroon, Benin, Burkina Faso, Niger and Cote D’Ivoire.
Peter Pedroncelli, 6:15 am AFKI Original
Mobile internet is incredibly important to Africans, with a high mobile penetration rate making mobile the major medium through which Africans connect to the internet. Broadband, or fixed line internet, speeds via desktop or laptop computers are constantly improving throughout the continent, but it is on mobile that some of Africa’s top speeds may surprise people, with one East African nation in particular enjoying faster average mobile internet speeds than people in the U.S.
Peter Pedroncelli, 6:02 am
Google’s emerging markets startup accelerator, Launchpad, has expanded to seven additional African countries from the original three eligible for the program since May of this year. This means that growth stage startups in Algeria, Egypt, Ghana, Morocco, Tanzania, Tunisia, and Uganda can now apply to be part of the accelerator program. Previously the only three African countries considered for applications were South Africa, Kenya and Nigeria.
Peter Pedroncelli, 7:59 am AFKI Original
In business terms, countries with the fastest broadband speeds have a distinct advantage over others, and this is especially true for Africa. The research took into account 189 countries, including most African nations ranking them from first to last with regards to average speeds that users experience in those countries. Singapore ranks as the world’s fastest country with speeds of 55.13Mbps, while Yemen is in last place in the ranking at an average speed of only 0.34Mbps.
Peter Pedroncelli, 6:06 pm AFKI Original
There are 25 African billionaires who can stake their claim among the estimated 2,043 dollar billionaires worldwide that make up the richest of the rich. A number of the African billionaires have earned some of their wealth thanks to tech and related industries, with the modern digital world contributing revenues that have helped them to grow their personal net worth to billionaire status.
Tom Jackson, 3:00 am AFKI Original
The tech scene in North Africa is booming once again, with investors interested in backing startups across Egypt, Morocco and Tunisia. Venture capital firms are flooding back into Egypt, from 500 Startups to the IFC to Algebra Ventures, and after years of being denied access to funds, Egyptian tech startups are now swimming in them again. The story is equally positive for Morocco and Tunisia, and the region’s tech future looks bright once again.
Staff, 1:28 pm
Chinese technology companies hungry for expansion are diving into the less-developed African continent, where several countries are targeting double-digit economic growth. Iginio Gagliardone, a lecturer in media studies at the University of Witwatersrand in South Africa, told CNBC that the Middle Kingdom’s expansion into Africa has been pronounced over the past four to five years. “China is everywhere,” Gagliardone said, though he noted that its presence was stronger in certain markets.
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