Africa Business Economy Featured News Technology 

UBER Monthly Riders Hits 267,000 With 9,000 Active Drivers

Transportation network company, UBER Nigeria, currently has 9,000 active driver-partners and no fewer than 267,000 monthly riders, an official has said. Francesca Uriri, the company’s Head of Communications in West Africa, made the disclosure in an interview in Lagos on Wednesday. Uriri said that the drivers and riders were based in Abuja and Lagos, where UBER currently focused. She claimed that the growing number of the riders was due to safety and services provided by the company. “UBER works together with regulators to ensure the safety of its platform and…

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Africa Business Economy Education Technology 

Oradian and ANMFIN launch new cloud-based microfinance solution in Nigeria

LAGOS, Nigeria, August 14, 2018/ — As part of their shared mission to boost financial inclusion throughout Nigeria, Oradian (https://Oradian.com) and the Association of Non Bank Microfinance Institution of Nigeria (ANMFIN) (www.ANMFINigeria.org) have launched a strategic partnership. Princess Adesola Ogunleye, the President of ANMFIN, commented on the partnership saying, “We are extremely pleased to partner with Oradian. Together we align our shared vision and leverage the success delivered to date. The partnership will enable all of our MFIs to move to Oradian’s cloud-based solution, helping our members to save time…

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Africa Economy Technology 

Temenos and AUC Venture Lab Team up to Accelerate Fintech Innovation in Egypt

CAIRO, Egypt, August 13, 2018/ — The Venture lab at The American University in Cairo (AUC Venture Lab) (http://Schools.AUCEgypt.edu/business/aucvlab/), the leading university-based startup accelerator in Africa and the MENA region, and Temenos (SIX: TEMN) (www.Temenos.com), the banking software company, have announced their intention to collaborate and strengthen the fintech ecosystem in Cairo. Temenos will support financial innovation in Egypt by providing startups with access to the world’s number one core banking solution to be used as their development environment. A key aspect of the collaboration will see Temenos provide a sandbox…

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Business Featured Technology 

Facebook Starts Monetizing WhatsApp Through Customer Replies

Facebook has been quite aggressive in maximizing the revenue generating capabilities of its various assets, but one asset has not been contributing immensely although it cost them the most: WhatsApp. This is about to change drastically with the new monetizing scheme, which WhatsApp has announced today. The new WhatsApp Business API will allow businesses connect with their customers around the world on WhatsApp. People will be able too connect a business by either asking for helpful information  like a boarding pass or shipping confirmation  or get real time support  and even start a conversation by clicking…

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Featured Technology 

World’s Top 10 Best Selling Mobile Phones of All Time

Ever since the first phone was made available to the public, we have seen companies take up the mobile phone market and flourish in it. Before the smartphone, we had dumbphones that preceded feature phones. Despite the impressive sales that we see smartphone companies such as Apple and Samsung report in their financials, the real winners have always been dumb phones from back in the day that sold in the hundreds of millions. This list simply highlights phones that were sold around the world and still hold the record for…

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Africa Business Economy Technology 

Paylater, the mobile app providing Nigerian consumers with access to credit, has reached 1 million downloads

LAGOS, Nigeria, August 2, 2018/ — In Nigeria, a country of nearly 200 million people, 61% of the adult population is un- or underbanked. Fintech companies like Paylater represent a tremendous opportunity to get formal banking services in the hands of Nigerian consumers to provide much needed liquidity for entrepreneurial investment, personal development, or unexpected expenses. Consumer credit is nearly non-existent in Nigeria. But, Paylater (www.Paylater.ng) is issuing loans to Nigerians completely digitally, without seeing or speaking to customers. Customers can receive funds in their account in as little as 5 minutes,…

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Business Economy Entrepreneurship Technology 

Freshworks Secures $100 Million Investment Led by Accel and Sequoia

SAN BRUNO, United States of America, August 2, 2018/ — Freshworks (www.Freshworks.com), a global leader in customer engagement software, announced today it has secured $100 million in financing and has hired former AppDynamics Vice President of Finance & Treasury Suresh Seshadri as its chief financial officer. The latest round of funding is co-led by Accel and Sequoia, with participation from CapitalG, bringing Freshworks’ total amount of capital raised to $250 million. The cash infusion will be used to further expand Freshworks’ worldwide expansion as well as continued investment in its integrated…

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Africa Economy Featured Technology 

Social media Dominates Nigeria’s Online Growth Rate at 22 per cent, Instagram Leads the Pack – Report

A new report by Terragon Group has shown that more Nigerians are using the internet, with about 63% of them using it for personal purposes. According to the report Digital Trends for Nigeria in 2018, the total number of internet users currently stands at 100.5 million people, with some 22 million of them actively using social media for a whole lot of activities. As such, social media is one of the areas with the highest growth rate, even as more Nigerians are adapting to it for digital marketing purposes while also increasing opportunities for…

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Africa Economy Education Technology 

AIMS, Facebook And Google Jointly Launch African Master’s In Machine Intelligence

The African Institute for Mathematical Sciences (AIMS) (www.NextEinstein.org) announces the launch of a one-year intensive African Master’s in Machine Intelligence (AMMI) in partnership with Facebook (www.FaceBook.com) and Google (www.Google.com). The master’s will begin this September at the AIMS-Rwanda campus in Kigali. “Machine Intelligence (MI) is revolutionizing critical aspects of our lives. It enhances medical diagnosis, improves industrial processes and enables scientific discoveries. Over the past decade, thanks to large public and private investments, MI has progressed rapidly in both basic research and the development of a vast array of applications.…

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Africa Economy Technology 

MDXi joins Data Centre leaders and Uptime Institute to discuss Africa’s digital transformation

West Africa’s leading data centre company, MDXi (www.MDX-I.com) has reiterated the importance of edge data centres to enable African consumers enjoy improved online experiences with much reduced latency, while significantly reducing transit costs. The company’s General Manager responsible for its West African expansion, Gbenga Adegbiji quotes an ACG Research (a Telecoms analyst and consulting firm) report that estimates that caching content locally in a metro with a population of about 1 million can lead to a 50 percent cost reduction over the long-haul transport method, within a five-year span. Speaking during…

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