May, 2019 - itbusinessdirect

Vodacom and Safaricom in a bid to buy M-Pesa brand from parent company Vodafone

May 31, 2019May 31, 2019 Dianne Jacobs

Vodacom and Safaricom are in the process of buying the M-Pesa brand from parent company Vodafone, in a deal reportedly worth over R190 million. Vodacom mentioned the deal in its recent full year results announcement, saying it expected the acquisition of the popular mobile money service to “further accelerate our mobile money growth plans in Africa”. Vodacom group CEO Shameel Joosub confirmed the plans in an interview with ITWeb, saying Vodacom, through a joint agreement with Safaricom, has done a deal with Vodafone to “take over M-Pesa completely”. “So, Safaricom…

Echotel International cleared to acquire iWayAfrica

May 30, 2019 Editor

South Africa-based integrator of advanced network and cloud computing services Echotel International Proprietary Limited has received the green light from the Competition Authority of Kenya (CAK) to acquire 80 percent of iWayAfrica Kenya. Echotel, through its subsidiaries, provides wireless connectivity services while the target provides retail internet access, Virtual Private Network (VPN), and online security services. Locally, the multinational resells Internet connectivity, VPN and online security services. It provides services via a multi-carrier converged network, to simplify the complexity of aggregating infrastructure to clients. iWayAfrica Kenya (iWayKenya), provides fixed line…

Millions of Instagram influencers data scraped and exposed from a Mumbai-based Chtrbox database

May 30, 2019 olivia Craig

TechCruch has detailed massive database leak containing contact information of millions of Instagram influencers, celebrities and brand accounts has been found online. The database, hosted by Amazon Web Services, was left exposed and without a password allowing anyone to look inside. At the time of writing, the database had over 49 million records — but was growing by the hour. From a brief review of the data, each record contained public data scraped from influencer Instagram accounts, including their bio, profile picture, the number of followers they have, if they’re…

Koko Energy firm Launches ethanol burners to be refuelled using Smart ATMs

May 29, 2019 Editor

Energy solutions firm Koko Networks has unveiled a two-burner ethanol stove for low-income households as it seeks a piece of the cooking gas business. The specially-designed cookers will retail at Sh7,000 and come with a refillable smart canister with a capacity of 2.3 litres that dock with KOKOpoints, which then dispense fuel they have pre-purchased by topping up their KOKO accounts with M-PESA. They then take their smart canister home to dock into their KOKO Cooker, a modern, high-power 2-burner ethanol stove that delivers affordable cooking energy, safely and conveniently.…

Singapore to launch QR based SG-Verify for businesses to perform secure ID verification and data transfer

May 28, 2019 Editor

The Singapore government says it will introduce a tool that enables businesses to verify user identity and transfer data via QR codes, giving them another way to facilitate customer acquisition and visitor registration at events. Called SG-Verify, the new platform is one of several the government has been planning for deployment this year as part of its smart nation efforts. The National Digital Identity (NDI), for instance, would serve as a common digital credential for citizens who transacted with the public sector and businesses. The latter group could tap the…

Facebook looking to launch own crypto-currency in 2020

May 27, 2019 Editor

By AGENCE FRANCE PRESSE, LONDON, United Kingdom, May 24 – Facebook has been in contact with US and British financial regulators with a view to launching its own crypto-currency next year, the BBC reported on Friday. “GlobalCoin” would work with a new digital payments system in about a dozen countries, starting in the first quarter of 2020, the broadcaster said on its website. Previous reports have said Facebook is taking a serious look at blockchain technology under its “Project Libra”, in part to tackle doubts about privacy among its many…

Google cuts ties with Huawei, to stop licensing its Android OS to the Chinese phone maker

May 20, 2019

Alphabet Inc’s Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the U.S. government has sought to blacklist around the world. Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said, confirming earlier reporting by Reuters. “We are complying…

Microsoft opens first Africa Development Centres in Nairobi and Lagos

May 16, 2019May 16, 2019 Editor

It was almost three decades ago that Microsoft opened its first offices in Africa. In this time, they witnessed incredible growth on the continent – more internet connectivity, more digital capability and more innovation. Africans have expanded the applications of technology, changing the way communities bank, farm and even access healthcare. As the next step on Microsoft’s journey in Africa, and to better understand a continent rapidly adopting technology in the cloud, and at the edge, Microsoft launched its first Africa Development Centre (ADC). With two initial sites in Nairobi,…

Tencent and Alibaba licenced to compete world’s biggest banks to offer Hong Kong banking

May 9, 2019 Editor

Tencent and Alibaba are set to compete with some of the world’s biggest banks including HSBC and Standard Chartered as Hong Kong opens up its market to online competitors. The Hong Kong Monetary Authority has issued virtual banking licences to China’s top technology groups, adding to the growing number of companies that have already been approved to provide digital services in the Asian financial hub. China’s Xiaomi, the world’s fourth largest smartphone maker, and PingAn, the world’s largest insurer, were also granted a licence on Thursday by the city’s banking…

Ethiopians in diaspora allowed to invest in banking, insurance sectors after a precedence setting court victory in 2017 by Sophia Bekele

May 9, 2019June 28, 2019 Editor

“Sophia took up the gauntlet and headed to the court to vindicate her right” The National Bank of Ethiopia (NBE), the agency in charge of regulating the financial sector of the country, will soon introduce a new regulation that will allow Ethiopians in the diaspora to invest in the financial sector that includes banking, insurance and micro finance. The Council of Ministers during its extraordinary meeting approved the Draft Banking Business Proclamation, allowing Diaspora citizens to establish banks in Ethiopia. This was indicated by Yinager Desse (PhD), Governor of NBE,…