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Africa Tech News
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Fréquence : 1 épisode/1j. Total Éps: 619
An exclusive podcast reporting daily on the happenings in the world of tech in Africa.
From Social Media to Agric-tech, Legal tech, Fintech, Health-tech, Edtech, etc; All the stories, events, and fundraising, catch the latest juice right here from Monday to Friday
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From Social Media to Agric-tech, Legal tech, Fintech, Health-tech, Edtech, etc; All the stories, events, and fundraising, catch the latest juice right here from Monday to Friday
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
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Amazon and SpaceX Accused of Trying to Demolish National Labor Law
mercredi 21 février 2024 • Durée 01:36
Amazon alleged in a legal filing published that the National Labor Relations Board is unconstitutional.
SpaceX and companies that, like Amazon, have repeatedly faced labor law violations from the federal agency have recently made similar attacks that threaten national worker protections.
Amazon claims that the NLRB’s structure is unconstitutional because administrative law judges are insulated from presidential oversight, thus violating the separation of powers. The company also argues against the structure of NLRB itself, as well as its ability to fine a company for unfair labor practices after a hearing, rather than a full jury trial.
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SpaceX and companies that, like Amazon, have repeatedly faced labor law violations from the federal agency have recently made similar attacks that threaten national worker protections.
Amazon claims that the NLRB’s structure is unconstitutional because administrative law judges are insulated from presidential oversight, thus violating the separation of powers. The company also argues against the structure of NLRB itself, as well as its ability to fine a company for unfair labor practices after a hearing, rather than a full jury trial.
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Partech Closes Its Second Africa Fund At $300M+ to Invest in Series C
mercredi 21 février 2024 • Durée 01:53
Partech has closed its second Africa fund, Partech Africa II, at $300 million+, just one year after reaching its first close.
Partech Africa, which originally targeted €230 million before its fundraising efforts started, solidifies its position as the largest fund dedicated to African startups.
Amidst a backdrop of global VCs and institutional investors pulling back from Africa, Partech Africa’s recent fund closure is significant.
The continent witnessed a notable decline in investor activity, with a 50% decrease in 2023 compared to the previous year, as highlighted in a Partech report.
This retreat, influenced by global economic shifts and local challenges, translated into reduced venture capital inflows for African startups, totalling between $2.9 billion and $4.1 billion last year, down from $4.6 billion to $6.5 billion in 2022.
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Partech Africa, which originally targeted €230 million before its fundraising efforts started, solidifies its position as the largest fund dedicated to African startups.
Amidst a backdrop of global VCs and institutional investors pulling back from Africa, Partech Africa’s recent fund closure is significant.
The continent witnessed a notable decline in investor activity, with a 50% decrease in 2023 compared to the previous year, as highlighted in a Partech report.
This retreat, influenced by global economic shifts and local challenges, translated into reduced venture capital inflows for African startups, totalling between $2.9 billion and $4.1 billion last year, down from $4.6 billion to $6.5 billion in 2022.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
Flutterwave to Recover $24 Million Lost to Unauthorised POS Transactions
mercredi 14 février 2024 • Durée 01:29
African fintech giant Flutterwave is seeking to retrieve $24 million illegally transferred in October 2023 through a combination of a technical glitch and potentially fraudulent activity by POS merchants.
The fintech company will reach out to over 6,000 account holders across 35 banks and financial institutions involved in unauthorised transactions.
A recent High Court ruling will allow Flutterwave to contact account holders via email, SMS, and WhatsApp messages, with assistance from a recovery agency to recover the funds, according to court documents
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
The fintech company will reach out to over 6,000 account holders across 35 banks and financial institutions involved in unauthorised transactions.
A recent High Court ruling will allow Flutterwave to contact account holders via email, SMS, and WhatsApp messages, with assistance from a recovery agency to recover the funds, according to court documents
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
Ugandan Traders Threaten to Sue Government Over Facebook Ban
mercredi 1 novembre 2023 • Durée 02:20
A group of traders are threatening to sue the Uganda Communications Commission if it does not reopen Facebook within two weeks.
The notice states that the traders have lost approximately 3,874,000 clients who were active Facebook subscribers in Uganda at the time of the closure, along with 2.9 billion potential clients in the global market.
Per Luyimbazi Nalukoola, the lawyer representing the traders, the continued closure of Facebook has resulted in significant financial losses for its members, estimated at around UGX 66 billion, it also extends to their supply chain, affecting 650 boda bodas, 88 lorries and pickups, and 180 taxis.
Ugandans now use VPNs to access Facebook, while many have stopped using the platform altogether.
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The notice states that the traders have lost approximately 3,874,000 clients who were active Facebook subscribers in Uganda at the time of the closure, along with 2.9 billion potential clients in the global market.
Per Luyimbazi Nalukoola, the lawyer representing the traders, the continued closure of Facebook has resulted in significant financial losses for its members, estimated at around UGX 66 billion, it also extends to their supply chain, affecting 650 boda bodas, 88 lorries and pickups, and 180 taxis.
Ugandans now use VPNs to access Facebook, while many have stopped using the platform altogether.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
UK Lawmakers Pass Online Safety Bill Into Law
mercredi 1 novembre 2023 • Durée 01:31
Tech firms in the UK will have to take more responsibility for the content on their platform.
The UK government has passed an Online Safety Bill that places immense responsibility on tech giants to ensure children’s safety in the digital world.
Social media platforms must ensure that age limits are enforced and that children are protected from accessing harmful and age-inappropriate content.
The Act also creates new offenses, like addressing cyber-flashing and deepfake pornography, which utilises AI technology.
Companies that fail to adhere to these regulations would face fines of up to £18 million ($21.7 million) or 10% of their annual global earnings, potentially amounting to billions of pounds for major corporations.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
The UK government has passed an Online Safety Bill that places immense responsibility on tech giants to ensure children’s safety in the digital world.
Social media platforms must ensure that age limits are enforced and that children are protected from accessing harmful and age-inappropriate content.
The Act also creates new offenses, like addressing cyber-flashing and deepfake pornography, which utilises AI technology.
Companies that fail to adhere to these regulations would face fines of up to £18 million ($21.7 million) or 10% of their annual global earnings, potentially amounting to billions of pounds for major corporations.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
Fidelity Bank Reinstates Neobanks
mercredi 1 novembre 2023 • Durée 01:31
Nigerian commercial bank, Fidelity Bank, has quashed its qualms with neobanks and reinstated customer transfers to OPay, Moniepoint, Palmpay and Kuda.
Fidelity claimed that the removal was due to ongoing upgrades, other sources stated that it was due to KYC violations from the neobanks.
Neobanks saysthat they had been in contact with the commercial bank to resolve all concerns. The reinstatement however was also due to one regulator, the Nigeria Interbank Settlement System, expressing displeasure at Fidelity’s move.
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Fidelity claimed that the removal was due to ongoing upgrades, other sources stated that it was due to KYC violations from the neobanks.
Neobanks saysthat they had been in contact with the commercial bank to resolve all concerns. The reinstatement however was also due to one regulator, the Nigeria Interbank Settlement System, expressing displeasure at Fidelity’s move.
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Paddy Cosgrave Steps Down as CEO of Web Summit
mercredi 25 octobre 2023 • Durée 01:27
Paddy Cosgrave has stepped down as CEO of Web Summit, the 14-year-old conference business that he cofounded and which has gone on to host one of Europe’s biggest annual tech events, along with four other events around the globe.
Following a week of controversy surrounding comments Cosgrave made about Israel and Palestine.
The conference organizers say they will be appointing a new CEO as soon as possible and that Web Summit 2023 in Lisbon will go ahead as planned.
The move comes on the heels of a series of remarks from Cosgrave in the wake of Hamas’s October 7 attack on Israel, which set off a chain of angry responses from Israelis and increasingly a wider swath of people throughout the technology community.
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Following a week of controversy surrounding comments Cosgrave made about Israel and Palestine.
The conference organizers say they will be appointing a new CEO as soon as possible and that Web Summit 2023 in Lisbon will go ahead as planned.
The move comes on the heels of a series of remarks from Cosgrave in the wake of Hamas’s October 7 attack on Israel, which set off a chain of angry responses from Israelis and increasingly a wider swath of people throughout the technology community.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
Sony Launches $10 Million Fund For African Startups
mercredi 25 octobre 2023 • Durée 01:28
Sony has launched the Sony Innovation Fund to support the growth of entertainment startups on the continent.
Sony will invest about $10 million in seed to early-stage startups across gaming, music, movie and content distribution sectors.
Gen Tsuchikawa, CEO of Sony Ventures, says that in addition to the fund’s seed and early-stage investment strategy, it will offer follow-on investments to its portfolio companies.
Sony is also collaborating with the International Finance Corporation, the largest global development institution focused on the private sector.
The partnership will support the growth of the entertainment industry in Africa by leveraging the strengths of both parties.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
Sony will invest about $10 million in seed to early-stage startups across gaming, music, movie and content distribution sectors.
Gen Tsuchikawa, CEO of Sony Ventures, says that in addition to the fund’s seed and early-stage investment strategy, it will offer follow-on investments to its portfolio companies.
Sony is also collaborating with the International Finance Corporation, the largest global development institution focused on the private sector.
The partnership will support the growth of the entertainment industry in Africa by leveraging the strengths of both parties.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
Kippa Exits the Agency Banking Business
mercredi 25 octobre 2023 • Durée 01:17
Kippa, the Nigerian fintech, which provides bookkeeping and finance management tools for small businesses, is discontinuing its agency banking business, KippaPay.
The startup also plans to lay off 40 employees associated with the product.
The company declared that KippaPay would be discontinued starting November 15. Sources also claim layoff notices have been sent out to affected staff, with their final day set for November 30.
The company however, says the decision to discontinue KippaPay is part of a strategic effort to streamline its product offerings and focus on the most financially viable and successful aspects of its business.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
The startup also plans to lay off 40 employees associated with the product.
The company declared that KippaPay would be discontinued starting November 15. Sources also claim layoff notices have been sent out to affected staff, with their final day set for November 30.
The company however, says the decision to discontinue KippaPay is part of a strategic effort to streamline its product offerings and focus on the most financially viable and successful aspects of its business.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
World Bank Suggest Changes to Kenya’s Data Protection Laws
mercredi 25 octobre 2023 • Durée 01:20
The World Bank is flexing Kenya’s data protection laws. The international financial organisation suggested changes to the Kenyan Data Protection Act of 2019, advising the Kenyan government against the localisation of data.
The global lender has asked Kenya to revoke a law that forces companies to store sensitive personal data on servers located within the country.
The World Bank says the law is limiting cross-border trade in digital services.
It’s asking Kenya to upgrade its current Data Protection Act and adopt compatible and interoperable standards. It also adviced the scrapping of data localisation requirement for the Kenya’s Health Information System Policy.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
The global lender has asked Kenya to revoke a law that forces companies to store sensitive personal data on servers located within the country.
The World Bank says the law is limiting cross-border trade in digital services.
It’s asking Kenya to upgrade its current Data Protection Act and adopt compatible and interoperable standards. It also adviced the scrapping of data localisation requirement for the Kenya’s Health Information System Policy.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.
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