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A tough start to 2024 with another fuel hike on the cards
Fuel prices have nudged higher so far this year and unfortunately motorists will have to brace for another fuel price increase for March. According to the announcement published on 1 March 2024 by the Central Energy Fund (CEF), a state-owned energy company reporting to the Department of Mineral Resources and Energy, the price of diesel
EQDOM and AUTO24 join forces to simplify the process buying and financing used cars in Morocco
EQDOM and AUTO24.ma, key players in the consumer credit and automotive industries, have forged a partnership to enhance the used vehicle purchasing experience in Morocco, prioritizing a seamless user experience in the transaction process. The collaboration aims to deliver a digital, streamlined, and optimized buying journey, emphasizing customer satisfaction. Leveraging EQDOM's Saphir application, known for
Reddit Inc. and its investors aiming for a valuation of around R122 billion in their upcoming initial IPO
Reddit Inc. and its investors are aiming to raise up to $748 million in one of the most significant initial public offerings (IPOs) this year. The plan involves selling 22 million shares at a price range of $31 to $34 each, potentially valuing the social media platform at $6.5 billion. Notably, around 1.76 million shares
OpenAI's Board Transformation: Sam Altman Returns Alongside New Appointments
OpenAI, the prominent artificial intelligence research laboratory, has undergone a major restructuring, welcoming back Sam Altman to its board of directors. Altman, who previously served as the CEO, was reinstated several months after his departure. The board expansion also includes three new members: Sue Desmond-Hellmann, Nicole Seligman, and Fidji Simo, reflecting OpenAI's commitment to diversity.
Elon Musk's X Platform Set to Introduce Long-Form Videos on Smart TVs
In a recent announcement, entrepreneur Elon Musk revealed that long-form videos will soon be accessible on smart televisions through his social network platform, X. This follows a report by Fortune magazine stating that X plans to launch a TV app for Amazon and Samsung users in the upcoming week. Last October, X introduced an early
Apple Relents in Feud with Epic Games Under EU Pressure, Allowing Epic Store on iPhones
In response to mounting pressure from European regulators, Apple has taken a step back in its ongoing dispute with Epic Games, clearing the path for Epic to launch its own game store on iPhones and iPads in Europe. The move comes after Apple initially took measures to prevent Epic from establishing a store and reintroducing
Telecom Operators Drive 4G and 5G Adoption in Nigeria through Infrastructure Investments
Telecom giants MTN and Airtel are spearheading substantial infrastructure investments in Nigeria, resulting in a rapid transition of more Nigerians to 4G and 5G networks. MTN Nigeria's CEO, Karl Toriola, shared in a recent investor call that the company has experienced a 2.7% surge in the number of 4G sites, pushing the 4G adoption rate
Ghana Mourns the Loss of Deputy Finance Minister John Kumah
Ghana is in mourning following the untimely death of Deputy Finance Minister John Kumah. The 45-year-old lawmaker passed away in the early hours of Thursday in Germany, where he had been undergoing medical treatment for an undisclosed period. Sources close to the family confirmed the tragic news to private media house TV3 on Thursday, March
Griffin Bank Secures Banking License and Raises $24 Million in Extended Series A Round
UK-based Griffin Bank, founded by former Silicon Valley engineers David Jarvis and Allen Rohner, has recently obtained a banking license approximately one year after initiating the application process. This significant development signifies approval from the UK's financial services regulators, the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA), allowing Griffin Bank to transition
Microsoft Faces Ongoing Threat as Russian Hacking Group Expands Attacks
In a recent revelation, Microsoft has disclosed an alarming escalation in the activities of a Russian state-sponsored hacking group known as Midnight Blizzard. Initially identified by Microsoft in January, this group has extended its unauthorized access, attempting to compromise the company's source code and internal systems, leveraging sensitive data stolen from Microsoft executives. Midnight Blizzard,
S Mobile Group Founder, Kingsley Adonu, Plans to Launch S Mobile Tech Hub in Enugu State
Kingsley Adonu, a distinguished serial entrepreneur and the founder/chairman of S Mobile Group, has recently announced groundbreaking plans to establish an innovation center in Enugu State, named the S Mobile Tech Hub. This visionary initiative is part of S Mobile Group's corporate social responsibility (CSR) efforts, aiming to foster skills development, youth entrepreneurship, and job
ITU Secretary-General has appointed inaugural Youth Advisory Board
Doreen Bogdan-Martin, Secretary-General of the International Telecommunication Union (ITU), has revealed to Business Tech Africa that it has announced the formation of her first Youth Advisory Board composed of 12 young digital experts and innovators aged 18 to 30. Representing different regions spanning the globe, these entrepreneurs, policy-makers, researchers and scientists will combine their expertise in
Rivian's Strategic Shift: Unveiling the Affordable R2 Electric SUV Amidst Business Challenges
When RJ Scaringe embarked on building Rivian Automotive Inc., his vision excluded a paint shop and stamped metal, aiming for cost-effective production in an industry dominated by corporate giants. However, Rivian's journey took an unexpected turn, resulting in the launch of high-end trucks — the R1S SUV and R1T pickup. Despite financial challenges and recent
Vodacom South Africa and Microsoft Collaborate to Provide Free Digital Training on Mzansi Digital Learning Platform
Vodacom South Africa has joined forces with Microsoft South Africa to offer complimentary access to digital training courses through the zero-rated Mzansi Digital Learning platform. The Mzansi Digital Learning platform will be hosted on Vodacom’s innovative NXT LVL rewards platform and seamlessly integrated into ConnectU, Vodacom’s zero-rated platform that grants customers access to content without
LinkedIn's Premium Subscription Business Achieves $1.7 Billion in 2023 Revenue Amidst AI Tools Uptake
LinkedIn has revealed its premium subscription business revenue for the first time, reaching an impressive $1.7 billion in 2023. This disclosure follows a surge in the adoption of new artificial intelligence (AI) tools within the platform. Since its acquisition by Microsoft in 2016, LinkedIn had not provided a detailed breakdown of its financial performance. However,
HONOR Set to Lead Foldable and AI Technology in Smartphone Industry
The recently concluded Mobile World Congress (MWC) 2024 in Barcelona, where AI took the spotlight, showcased the cutting-edge innovations driving the global smartphone industry forward. Among the leading innovators was global technology brand HONOR, who reaffirmed its commitment to shaping the future of technology with groundbreaking advancements in foldable and AI technology and solidified itself
Lenovo's Vision for the Future: PCs and AI in Harmony
Leading the charge into a future where artificial intelligence (AI) and human creativity seamlessly integrate are multinational technology giants. Among them, Lenovo, a prominent player in device manufacturing, not only showcases innovation but stands out as a trailblazer in advancing AI-driven solutions to redefine our interactions with technology. Presently, it holds a position in the
African Banks Secure Top Spots in Brand Finance's Global Ranking
Four African banks, namely Equity Bank, First National Bank (FNB), Kenya Commercial Bank (KCB), and Capitec, have achieved positions among the top five strongest banks globally, according to the latest Brand Finance most valuable brand list. Additionally, Capitec secured the seventh spot on this prestigious list. The report from Brand Finance, a leading brand valuation
Telegram Introduces Business Accounts with Subscription Fee for Enhanced Features
Telegram founder Pavel Durov revealed on Wednesday that users can now convert their personal accounts on the messaging app into business accounts by subscribing to a monthly fee. This move allows users to include business-related information such as location and opening hours, catering particularly to small cafes and shop owners. The newly introduced business account
TotalEnergies and QatarEnergy to Acquire Stake in Offshore Oil and Gas Licence in South Africa
TotalEnergies and QatarEnergy have announced their joint acquisition of a stake in a licence for oil and gas exploration off the coast of South Africa. The French energy company will purchase a 33% stake in the offshore block 3B/4B, covering an area of approximately 18,000 km2, while QatarEnergy will hold a 24% stake. The remaining