Wearable device sales to hit $42 billion in 2019 says Gartner

Share this

Gartner, Inc. forecasts that worldwide shipments of wearable devices will reach 225 million in 2019, an increase of 25.8 percent from 2018. End-user spending on wearable devices is forecast to reach $42 billion in 2019. Of that, $16.2 billion will be on smartwatches. “At the moment, the smartwatch market is bolstered by the relatively stable and higher average selling price (ASP) of the Apple Watch,” said Alan Antin. senior director at Gartner. “But the overall ASP of smartwatches is expected to slowly decline from $221.99 in 2018 to $210 in…

Share this
Read More

Econet’s Kwesé is shutting down its operations to refocus on video-on-demand

Share this

Pay-TV Company Kwesé is shutting down its operations barely two years after launch as Econet, the parent firm, shifts its attention to latest digital and satellite broadcasting trends. Subscribers of Kwese satellite TV will access free-to-air (FTA) stations only after the firm did away with third-party channels according to a report by Business Daily Africa (BD) “We believe these changes will safeguard the future success of our business as we continue to make an indelible impact on Africa’s media industry. The revised business strategy will also ensure that Kwesé TV…

Share this
Read More

Can Blockchain + Virtual Reality Boost E-commerce In Africa

Share this

eCommerce will be worth $75 billion in Africa’s leading economies, and came into existence as the solution to the stress of beating traffic to get to stores, bringing about a more convenient way of buying and selling. Today, online retail seems to be fast replacing the brick and mortar stores, and warehouses are becoming the one place to order items from. Ventures such as Alibaba, eBay, Payporte, Jumia, and Konga are cashing in big on African’s need to do convenient shopping from the comfort of their homes. While this a…

Share this
Read More

17 Canadian federal depts. and agencies failed basic tests for credit card data security

Facebook
Share this

The Canada Revenue Agency, the RCMP, Statistics Canada and more than a dozen other federal departments and agencies have failed an international test of the security of their credit card payment systems. Altogether, half of the 34 federal institutions authorized by the banking system to accept credit-card payments from citizens and others have flunked the test — risking fines and even the revocation of their ability to accept credit and debit payments. Those 17 departments and agencies continue to process payments on Visa, MasterCard, Amex, the Tokyo-based JCB and China…

Share this
Read More

Sources Intimate that Rocket Internet is preparing a Jumia IPO

Banking Crisis
Share this

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…

Share this
Read More

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

Share this

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…

Share this
Read More

Tinder parent company buys anti-Tinder dating app Hinge

Share this

Match Group, a massive online dating conglomerate, acquired Hinge today in a deal that gives the company a 51 percent stake in the app. Hinge initially marketed itself as a more welcoming version of Tinder in which users could only see potential matches who shared a mutual Facebook friend. The company then redesigned its app to get rid of all swiping features and in its place let users build out full profile pages. Hinge users can answer three questions about themselves, connect their accounts to their Instagram, and also upload multiple photos,…

Share this
Read More

Lyft makes it easier to track business travel expenses

Share this

Lyft  announced today that taking a business trip and then actually turning in your travel receipts just got a whole lot easier. A new feature for business profiles will allow employers to create a direct connection between employee trips and travel managers in charge of their reimbursement. While this integrated functionality is not new for the ridesharing company, it is the smoothest it has ever been. In 2016, Lyft launched its business profiles to allow users the ability to easily share receipts via their work emails. Then, in the summer of 2017, the company announced in-app integration…

Share this
Read More

Facebook entices content creators with new community-centered video platform

Share this

Facebook announced several new live video features today that will allow creators to make their live streams more like games with polls and quizzes. The features are similar to those that creators on YouTube have had access to for months through the recent addition of the Community tab. These new features could entice established creators to migrate to Facebook’s video platform. Facebook says these features will reinvent traditional entertainment formats as more “community-centric,” and it noted a trend in more collaborative video consumption that relies on audience participation. YouTube integrated polling…

Share this
Read More

Instagram’s Video Hub Dubbed IGTV Set to Launch Tomorrow

Share this

The Instagram longer-form video hub that’s launching tomorrow is called IGTV and it will be part of the Explore tab, according to multiple sources. Instagram  has spent the week meeting with online content creators to encourage them to prepare videos closer to 10-minute YouTube vlogs than the 1-minute maximum videos the app allows today. Instagram is focusing its efforts around web celebrities that made their name on mobile rather than more traditional, old-school publishers and TV studios that might come off too polished and processed. The idea is to let these creators,  who have a knack for this…

Share this
Read More