Sources Intimate that Rocket Internet is preparing a Jumia IPO

Banking Crisis
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Reuters sources have intimated that German start-up investor Rocket Internet (RKET.DE) is preparing its African online shopping platform Jumia for a possible New York listing in the first quarter of 2019 which could value the firm at about $1 billion. Citi (C.N), Morgan Stanley (MS.N) and Berenberg are coordinating the IPO, the sources said. Shares worth up to $250 million may be sold, one of the sources said, adding that no final decision about the timing or metrics of the deal had yet been taken. The investor and the banks…

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Surprise overdue dual-SIM support coming to the iPhones

Apple
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Apple’s introducing letting you embrace your inner duality with your iPhone. At Wednesday’s Apple event, the company announced the launch of dual-SIM support for the iPhone. Both the iPhone XS and the iPhone XS Max will offer the dual SIM card option. This will allow you to have two different phone numbers and two different carriers on the same phone. The dual SIM support is possible because Apple’s newest iPhones will have an eSIM as well as a regular nano SIM card. The eSIM means you won’t have to swap…

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Fintech Will Contribute $150 Billion to Africa’s GDP by 2022

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The contribution of the financial-technology industry to sub-Saharan Africa’s economic output will increase by at least $40 billion to $150 billion by 2022, according to Financial Sector Deepening Africa, a development-finance organization. The industry currently employs about 3 million people directly and indirectly in the region, FSD Africa Financial Markets Director Evans Osano said in an interview on Thursday. Sub-Saharan Africa’s gross domestic product is about $1.6 trillion, according to data compiled by the International Monetary Fund. “If you look at the value chain, most of that money is coming…

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Internet Solutions pilots pay-per-use Internet

Data
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Internet Solutions (IS), formerly Access Kenya Group, will offer consumption-based billing for businesses as opposed to the traditional fixed billing. The Internet firm is piloting the service that will see businesses pay as per their usage, cutting down on extra costs experienced during down time and off-peak seasons. “Bandwidth is widely considered a utility like power and water and users want it where and when they need it. “Enterprises are demanding convenience and flexible consumption models that respond to their needs,” Internet Solutions managing director Richard Hechle (pictured). According to…

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SEC Suspends Exchange-Traded Bitcoin and Ether Investment Vehicles as market crash continues

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Ether, the second-largest virtual currency, slumped 8.9% from its level at 5 p.m. New York time on Friday, according to Bloomberg composite pricing. Bitcoin lost 2.1%, while the market capitalization of digital assets tracked by CoinMarketCap.com shrank to $197 billion — down about $640 billion from its January peak. Cryptocurrencies have declined for five of the past six weeks amid concern that a broader adoption of digital assets will take longer than some had anticipated. That worry was underscored over the weekend after the U.S. Securities and Exchange Commission temporarily…

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Majority Facebook users not aware how the site’s news feed works

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A Pew research has revealed that a sizable majority of U.S. adults use Facebook and most of its users get news on the site. But a new Pew Research Center survey finds that notable shares of Facebook users ages 18 and older lack a clear understanding of how the site’s news feed operates, feel ordinary users have little control over what appears there, and have not actively tried to influence the content the feed delivers to them. The findings from the survey – conducted May 29-June 11 – come amid a…

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Apple cracking down on apps store, requires all to define a privacy policy

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Apple is taking an unprecedented step on its store in the fight for privacy. The tech company is cracking down on apps that don’t communicate to users how their personal data is used, secured or shared. In an announcement posted to developers through the App Store Connect portal, Apple says that all apps, including those still in testing, will be required to have a privacy policy as of October 3, 2018. The rules go into effect on October 3rd. Apple says that current software without a policy won’t be removed…

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Google reportedly paid millions of dollars in secret data deal with Mastercard to track retail sales

Facebook
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For the past year, select Google advertisers have had access to a potent new tool to track whether the ads they ran online led to a sale at a physical store in the U.S. That insight came thanks in part to a stockpile of Mastercard transactions that Google paid for. The revelation comes amid heightened concern about how much consumer data is consumed by tech companies like Google. Earlier this year, Facebook was criticized when data on as many as 87 million people was improperly shared with Cambridge Analytica, raising…

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Net giants urge court to reinstate repealed net neutrality rules

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Representatives of internet giants like Facebook, Google and Amazon on Monday urged a federal appeals court to reinstate the Federal Communications Commission’s (FCC) net neutrality rules. Net neutrality rules, ideally prohibited internet service providers from blocking, throttling or prioritizing most web traffic. The FCC officially repealed in June causing a huge outrcry. The Internet Association (IA) and the Computer and Communications Industry Association (CCIA), two of Silicon Valley’s most prominent trade groups, filed in support of a lawsuit against the FCC for its repeal of the 2015 regulations late last year.…

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Fear of ‘brand damage’ means less than 5% of businesses report online attacks

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Half of Irish companies have been victims of economic crime within the past two years — up from 34pc in 2016 and 26pc in 2010, according to a recent report from PwC on economic crime (stock image) Brand damage and embarrassment are among the reasons given for the under-reporting of cybercrime by Irish businesses to gardai. But, from a prevention and awareness level, it is important that this crime is reported, according to Michael Gubbins, Detective Superintendent and head of the Garda National Cyber Crime Bureau. It is estimated that…

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