Tala Microloan Startup gains $110 Million In latest Funding

Mobile-based lenders pose money laundering risk, says CBK

Tala, a Los Angeles startup that makes microloans to consumers and small business owners in emerging markets, is announcing today that it has raised $110 million in funding. The new Silicon Valley venture capital firm RPS Ventures, cofounded by Kabir Misra, former managing partner at Softbank’s $100 billion Vision Fund, is leading the round. Tala’s backers include PayPal, billionaire Steve Case’s VC firm Revolution, Chris Sacca’s Lowercase Capital and Data Collective, among others. The new funding values Tala at nearly $800 million, according to an investor. Tala has raised more…

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Intel unveils Nervana its first ever AI-driven neural network chip

San Francisco: Intel has unveiled its first high-performance Artificial Intelligence (AI)-driven neural network chip “Nervana” to meet the growing high-speed computing and robotics demand. The chip-maker showcased the Nervana neural network processors, with the NNP-T for training and the NNP-I for inference at the “Hot Chips 2019” conference at Stanford University in California on Tuesday. “To get to a future state of ‘AI everywhere,’ we’ll need to address the crush of data being generated and ensure enterprises are empowered to make efficient use of their data, processing it where it’s…

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Apple Card just quietly launched, takes a new approach to credit cards use

Apple Card just quietly launched, takes a new approach to credit cards use

Last week, Apple Card was launched, a new product that just might make the tech firm a lot of money. However there wasn’t much elation and ululation. This is because, anyone who put their name down to get Apple notifications likely got a highly personalized invitation about the product. To celebrate the launch, Apple didn’t release an expensive ad featuring exited customers, rather, Apple’s YouTube page was filled with explanatory videos. The Card is Apple’s different approach to credit cards use, statements are handled, and rewards are redeemed, without any…

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By 2025, there will be commercial 5G services in at least seven African markets

By 2025, there will be commercial 5G services in at least seven markets, including Kenya, Nigeria and South Africa, with 28 million 5G connections

Digital technologies are having a profound impact on the way people live, work, play and communicate. This is especially true in Sub-Saharan Africa where such technologies increasingly provide access to life-enhancing services for individuals and communities that would otherwise be excluded, due to infrastructure, skills and funding shortages. Key trends in the region’s digital landscape, including a youthful demographic and the increasing digital disruption of industries, point to growing demand for next-generation connectivity. It is universally accepted that high-speed, reliable and robust network infrastructure is critical to the growth of…

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Facebook, WhatsApp, Instagram in worst ever worldwide outage for the internet giant

Facebook said it was “back at 100 percent” after an outage on all of its services affected users in various parts of the world. Online monitoring service DownDetector reported on Wednesday that the outage began around 12:00 GMT and affected Facebook as well as its Instagram and WhatsApp services. “The issue has since been resolved and we should be back at 100 percent for everyone,” the company tweeted at 00:06 GMT on Thursday, adding they were sorry for “any inconvenience”. A Facebook spokesperson, also speaking on behalf of Instagram and…

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Startups and Partnerships, EurAfrican Forum enables cross pollination of ideas: Dr. Precious Lunga – Baobab Circle

Search Results Featured snippet from the web Dr. Precious Lunga is CEO and Co-Founder of Baobab Circle, a health technology company delivering innovative health solutions via phones across Africa. She will be joining the 2nd edition of the EurAfrican Forum in Portugal as a speaker.

Dr. Precious Lunga, CEO and Co-Founder of Baobab Circle, will be joining the 2nd edition of the EurAfrican Forum in Portugal as a speaker, taking place on July 4-5. The EurAfrican Forum exists to explore and promote the power of diasporas as a connecting force between cities, regions and continents, between cultures, companies and people. It is an action-oriented gathering of leaders that aims to foster stronger collaboration between Europe and Africa to promote a shared green and inclusive growth for the two continents, fostering mechanisms for collaboration and creating…

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Swvl, Egyptian bus bokking app raises $42 million for expansion into more African countries

Swvl, an Egyptian app for booking buses, has raised $42 million as it looks to expand into other parts of Africa, including Nigeria.

Swvl, an Egyptian app for booking buses, has raised $42 million as it looks to expand into other parts of Africa, including Nigeria. The two-year-old company, which started in Cairo and also operates in Alexandria and Nairobi in Kenya, got the money from venture-capital firms including Sweden’s Vostok, Dubai-based BECO Capital, China’s MSA and Endeavor Catalyst, based in New York. “The plan is to be in at least two or three more African cities by the end of the year,’’ Mostafa Kandil, the 26-year-old founder and chief executive officer, said…

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Has your Instagram account been hacked? You can recover it this way

Previously, if your Instagram account was taken over by an attacker, recovering it would require wading through choppy customer support, or calling for assistance from white-hat hackers. Now, Instagram is rolling out new measures to help you get your account back more easily. On Monday, Instagram announced it is testing changes that could make it easier for users to regain access to hacked accounts, as well as security features that could make it harder to steal Instagram usernames in the first place. The news comes after a wave of Instagram…

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

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…

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PesaPal adds new payments options on app in partnership with M-Pesa, Visa & MasterCard

Electronic payments firm PesaPal has added payment options in its integrated mobile money processing platform for shoppers and those making utility payments. The company said its users will be able to leverage on its new app — dubbed PesaPal Mobile — to buy airtime, pay bills, book flights and holidays, purchase event tickets and pay school fees. It has partnered with Safaricom’s M-Pesa, Visa and MasterCard to enable the payments “Available on both Android’s Google Play Store and Apple‘s App Store, the app is geared towards consumers looking to simplify…

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