U.S. Federal bank regulators outline new cyber security standards to stem attacks

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U.S. bank regulators on Wednesday outlined cyber security standards meant to protect financial markets and consumers from online attacks against the nation’s leading financial firms. Leading banks will be expected to use the most sophisticated anti-hacking tools on the market and to be able to recover from any attack within two hours, said officials briefing reporters on the plan. The rules, which will be finalized after industry input, is meant to raise cyber security to a top priority for corporate executives and boards, according to the banking agencies. Banks with…

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Massive data breach hits 500 million Yahoo accounts

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Information from at least 500 million Yahoo accounts was stolen from the company in 2014, the company said Thursday, indicating it believes a state-sponsored actor was behind the hack the Sunnyvale, California-based company confirmed. The theft may have included names, email addresses, telephone numbers, dates of birth, and in some cases, encrypted or unencrypted security questions and answers, Yahoo said. Even in an Internet-dependent population accustomed to the regular occurrence of massive data breaches, the size of this one —  thought to be the largest ever in terms of user accounts — is attention-grabbing. And the possibility that another…

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Can Blockchain Technology improve digital piracy in Africa?

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The digital content market has rapidly become less regional for piracy not to be prevented, even in parts of Africa where the distribution in such format is maturing. Globally there’s been a shift from traditional media and content industries to new digital media technologies. This has changed the distribution and consumption of creative content with the emergence of new digital platforms like Netflix and iROKOtv. “In Africa, there is a demand for US and European content, and when distribution rights don’t keep up with demands, it fuels piracy,” says G-J…

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Tech firms ‘Wary of losing EU workers post-Brexit’

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British group of legislators have said that Britain must urgently address the post-Brexit concerns of tech companies who fear losing European Union workers to other countries in the bloc. The Business, Innovation and Skills Committee said ministers should use the upcoming digital strategy to set out the impact of the vote to leave the EU on firms’ high-skilled European employees. It also warned that the UK’s position as a world leader in fintech – businesses which use technology to improve efficiency in financial services – could be at risk as businesses may seek…

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2016 Innotribe Startup Challenge Winners Announced

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The winners of the 2016 Innotribe Startup Challenge were announced yesterday in Mauritius. The winners were South Africa’s Hello Paisa, a low cost international money transfer solution and The Sun Exchange, which deals with crowd lending for solar energy and Cameroon’s WeCashUp, that deals with mobile money transfer across Africa. The three each received a 10,000 USD cash prize. They also received invitations to attend Sibos, SWIFT’s annual global financial services conference that will take place in Geneva from the 26th to the 29th of September, techmoran reports. Sido Bestani,…

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Showmax Launches in 36 Sub Saharan Countries

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Just a few months after Netflix launched in African countries, one of its competitors, Showmax has followed in its footsteps and launched in 36 Sub Saharan countries. Showmax, which was launched last year in August and which is backed by Napsers will for $7.99 per month, provide unlimited viewing  Internet TV services with approximately 15,000 TV show episodes. Barron Ernst, Chief Product Officer for Showmax said: “The speed and cost of connectivity are significant hurdles for any internet-based service in Africa. Getting it right means you’ve got to do much…

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#ELLE101: #WomenInBusiness Twitter Chat with Sophia Bekele

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On 6th May 2016, Elle Afrique a blogzine for the #PowerfulAfricanGoddess, hosted an incisive Twitter Chat with Sophia Bekele, Business Executive and Philanthropist.  The #WomenInBusiness chat proved to be very enlightening for Women.  As a seasoned entrepreneur  Miss Bekele had a few nuggets of wisdom to share on women in business and what some of her experiences have been thus far. She touched on the importance of networking in business. “Networking is the subtle building of human capital through connections. Traditionally Business has been built and expanded via networks, tech has…

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“Yedaly Declaration” on .Africa dismissed by US Federal Court as Conflict of Interest!

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On April 12th 2016, The court determining the DotConnectAfrica Trust v. Internet Corporation for Assigned Names and Numbers & ZA Central Registry ruled that it has granted a Preliminary Injunction for DotConnectAfrica, the decision for case no. 16-CV-00862 RGK (JCx) [PDF] on the .Africa new gTLD. The court gave several reasons to explain why the Court GRANTS Plaintiff’s Motion for Preliminary Injunction.   These include the likelihood of Success on the Merits where the court said The Release Does Not Bar DCA’s Claim at This Time as it found “serious questions regarding the…

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Yahoo-backed E-commerce search startup Twiggle gets $12.5M Series A Funding led by Naspers

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E-commerce operator Naspers led a $12.5 million investment that Twiggle will use to expand globally. (Bloomberg)—A Yahoo Japan-backed Israeli startup, Twiggle, has lined up a funding round led by Naspers Ltd., the Cape Town, South Africa-based group known for its early investment in Chinese e-commerce site Tencent Holdings Ltd. Twiggle, a web- and mobile-based service focused on search, aims to license its software to leading online retailing companies around the world and will use the $12.5 million in funding to expand globally. Using machine learning, artificial intelligence and natural language…

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WhatsApp launches end-to-end encryption on messages for all its users

WhatsApp launches end-to-end encryption on messages for all its users
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Instant messaging service WhatsApp in seeking to reassure its users about their privacy will be encrypting all messages sent via its app. WhatsApp’s announcement comes in the heels of one of the most high-profile clashes in the debate over encryption and data privacy between the government and a technology company. In February, the FBI asked Apple to unlock one of the San Bernardino shooters’ iPhones so authorities could access his data. Apple refused, stating a breach of privacy; the FBI took Apple to court but was eventually able to unlock…

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