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💸 Nigeria's Electronic Payment Transactions Hit N1.08 Quadrillion in 2024
🚙 Moove Acquires Kovi: Expanding its Global Mobility Empire into Latin America
💰 Swedfund invests $41 million in Emerging Africa & Asia Infrastructure Fund
📱South Sudan Lifts Social Media Ban After Five-Day Suspension
🤖 Microsoft and OpenAI Investigate Potential Data Breach by Chinese AI Firm, DeepSeek
🌾 Bayer and Pula Foundation partner to insure 10 million smallholder farmers by 2030 |
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| | | | | If you haven't subscribed, join over 7,000 people curious about Innovation, New Products, New Technologies in Africa. | |
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| | | | | 💸 PAYMENTS | Nigeria's Electronic Payment Transactions Hit N1.08 Quadrillion in 2024 | | Nigeria's digital payment ecosystem continues to break records, with electronic transactions hitting an unprecedented N1.08 quadrillion in 2024, an 80% increase from N600 trillion in 2023. This surge underscores the growing adoption of cashless payment systems, driven by improved financial technology, a reduction in cash-based transactions, and evolving consumer habits. | Data released by the Nigeria Inter-Bank Settlement System (NIBSS) also highlighted a major jump in Point-of-Sale (PoS) transactions, which soared by 81% to N19.4 trillion in 2024, compared to N10.73 trillion in 2023. This trend signals strong consumer reliance on digital payments amid ongoing shifts in Nigeria's financial landscape..........…continue reading |
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| | | | | 🚙 ACQUISITIONS | Moove Acquires Kovi: Expanding its Global Mobility Empire into Latin America | | Moove, the Africa-born vehicle financing company backed by Uber, has acquired Kovi, a Brazilian urban mobility provider. This acquisition marks a major step forward in Moove's ambitious vision of building the world's largest ride-hailing fleet while solidifying its presence in Latin America's rapidly expanding market. | While the financial details remain undisclosed, Moove has confirmed that this was an all-share transaction, making Kovi a wholly owned subsidiary. As a result, Kovi's investors now hold shares in Moove, aligning both companies' long-term growth trajectories. | This latest acquisition further strengthens Moove's Latin American presence, adding to its recent launches in Mexico and Colombia. Brazil, the region's largest ride-hail market, now serves as a critical hub in Moove's global expansion strategy.........…continue reading |
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| | | | | TRAININGS FROM TENTH CODE MEDIA | | Data is the lifeblood of modern organizations, driving decisions, strategies, and innovation. Come explore the fundamentals of data analytics, equipping you with the knowledge and tools to derive insights, solve problems, and support informed decision-making. | 👉🏽 Click here to register - (Starts 08 February 2025) |
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| | | | | 🤖 ARTIFICIAL INTELLIGENCE | Swedfund invests $41 million in Emerging Africa & Asia Infrastructure Fund | | Swedish development finance institution, Swedfund, has announced a significant investment of over $41 million (€40 million) into the Emerging Africa & Asia Infrastructure Fund (EAAIF). This fund operates under the Private Infrastructure Development Group (PIDG) and is managed by Ninety One, a prominent investment management firm. | The primary objective of this investment is to address the critical infrastructure gaps that exist across Africa, the Levant, and South and Southeast Asia, with a strong emphasis on climate action, inclusivity, and sustainable development..........…continue reading |
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| | | | | 📱SOCIAL MEDIA | South Sudan Lifts Social Media Ban After Five-Day Suspension | | In a surprising shift, South Sudan has lifted its temporary ban on social media platforms, including Facebook and TikTok, after a five-day suspension. The National Communications Authority (NCA) announced the decision in a letter to telecom and internet providers on Monday, stating that the graphic video content that had incited violence and retaliatory killings had been removed from the platforms. | The ban was initially imposed on January 22 after videos allegedly depicting attacks on South Sudanese nationals in Sudan surfaced online, leading to protests and violent clashes in South Sudan. At the time, the NCA instructed internet service providers to block access to social media for at least 30 days, citing security concerns and threats to public safety...........…continue reading |
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| Receive Honest News Today | | Join over 4 million Americans who start their day with 1440 – your daily digest for unbiased, fact-centric news. From politics to sports, we cover it all by analyzing over 100 sources. Our concise, 5-minute read lands in your inbox each morning at no cost. Experience news without the noise; let 1440 help you make up your own mind. Sign up now and invite your friends and family to be part of the informed. | Sign up today! | | | | | 🤖 ARTIFICIAL INTELLIGENCE | Microsoft and OpenAI Investigate Potential Data Breach by Chinese AI Firm, DeepSeek | | Microsoft and OpenAI are investigating whether a group associated with the Chinese AI startup DeepSeek improperly accessed data from OpenAI's systems, according to a report by Bloomberg. | Microsoft's security researchers detected individuals believed to be linked to DeepSeek extracting large amounts of data via OpenAI's API. Under OpenAI's terms of service, developers must pay to use its API, which imposes strict limits on the amount of data they can access. | As OpenAI's largest investor, Microsoft flagged the activity as a potential violation of OpenAI's terms of service....…..continue reading |
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| | | | | OTHER STORIES | LemFi acquires Bureau Buttercrane to expand European operations and enhance regulatory compliance……..continue reading Bayer and Pula Foundation partner to insure 10 million smallholder farmers by 2030……continue reading MOPO secures $7 million from BII to enhance sustainable energy access in Africa…..continue reading Egyptian edtech startup Eyouth secures $6 million partnership for digital skills development…….continue reading Spiro, recognized as one of Africa's largest electric vehicle company, has announced an exciting partnership with Afrobeats superstar Davido…..continue reading
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| | | | | OPPORTUNITIES | Applications are now open for the latest edition of the Tony Elumelu Entrepreneurship Programme (TEEP), designed to support startups through comprehensive training, mentorship, and a funding opportunity of US$5,000 Deadline = 1st Mar 2025……..continue reading Applications are now open for the Women Techsters Fellowship Programme, a free, one-year initiative designed to equip young girls and women with high-demand technology skills. Deadline = 31st January 2025……..continue reading The Lagos State Science Research and Innovation Council (LASRIC) calls on bold thinkers and trailblazers to apply for funding and support under its 2024 Innovation Initiative. Deadline = 31st January 2025…..continue reading Global payment card network Visa has announced the opening of applications for the fourth edition of its biannual Africa Fintech Accelerator. Deadline = 15th March 2025…….continue reading Applications are now open for the Timbuktoo MineTech Accelerator programme, a groundbreaking initiative by the Timbuktoo MineTech Hub aimed at driving innovation in mining technology, empowering startups, and scaling transformative technologies within the African mining sector. Deadline = 13th February 2025…..continue reading
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Innovation Village |
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