Category: STARTUPS

Co-creation Hub’s Design Lab in Kigali, Rwanda wants to own local problems

The launch of Co-creation Hub’s Design Lab in Kigali, Rwanda last week was important in many ways. The ‘CcHUB Design Lab’ is a revolutionary vision from the hub, and will be key to tackling some of Africa’s socio-economic problems. Designers and engineers at the lab will also be working with scientists from around the world to design solutions for some of Africa’s biggest issues in public health, education, governance, and the private sector. It is often said that “African problems require African solutions,” a phrase coined by Ghanaian economist George Ayittey.…

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Uber and lyft race to debut on the stock market

Dianne Jacobs

With the SEC up and running again after the government shutdown, the IPO gears are grinding back to life. Uber Technologies and Lyft Inc., both planning highly-anticipated public offerings, could be two of the first unicorns to take the plunge in the public markets this year. It’s not confirmed publicly which rideshare giant plans to go first, but both reportedly have received feedback from the SEC on their IPO proposals. But the significant disparity in their sizes and valuations could influence how both are ultimately received by the market. That could put pressure on the rival…

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Spotify in advanced talks to acquire Gimlet Media for over $200

Editor

Spotify is in talks to acquire Gimlet Media, one of the leading podcast production houses. If this deal completes, it will signify a major change in the trajectory of podcasting as an industry. The significance of the deal goes well beyond that of the eye-opening $200 million valuation being discussed. Gimlet has raised approximately $28.5 million in venture funding from investors including WPP, Stripes Group, LioneTree Partners, Graham Holdings, Betawarks, Cross Culture Ventures, and Lowercase Capital. Two years ago, the startup was reportedly valued at roughly $70 million. Podcasting has…

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Pesapal starts Payment processing for low cost Kenyan Airlines

Editor

Pesapal has this year started processing payments for low cost carriers in Kenya. Jetways Airlines, Silverstone Air and Skyward Express will from now on use Pesapal’s integrated payment system to process Mpesa, Visa, mVisa, MasterCard and American Express payments on their respective websites. This not only gives travellers the freedom to pay conveniently for their flights but also makes it easier for airlines to track payments and traveller flight information. These airlines join African Express Airways in Kenya and Eagle Air in Uganda showing Pesapal’s growth as a payment processor…

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Vodacom to pay ex-worker who invented the ‘Please Call Me’ idea after gridlock

olivia Craig
1Gbps

Nkosana Makate,  the former employee behind the Please Call Me service, says he is exploring his options after Vodacom decided on a “ridiculous and insulting” sum of money to settle a long-standing dispute between them. Vodacom said over the weekend it considered the matter  “finally settled and closed” after its CEO, Shameel Joosub, had decided on a “reasonable” payment for Makate, the former employee who came up with the idea in late 2000. The mobile operator did not disclose the amount, citing a confidentiality agreement. This comes nearly three years…

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

Dianne Jacobs

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…

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Tech and sports titans pay tribute to Microsoft co-founder Paul Allen who has passed at 65

Editor

Paul Allen, who co-founded Microsoft Corp. with fellow billionaire Bill Gates and used the fortune he made from the iconic technology company to invest in professional sports teams, cable TV and real estate, has died. He was 65. Allen, along with Gates, helped create an entire industry selling software for a new breed of smaller, more affordable and widely accessible computers. Allen died on Monday in Seattle from complications of non-Hodgkin’s lymphoma, according to a statement from Vulcan Inc., his investment firm. Allen’s source for his varied investments and sizable…

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Sources Intimate that Rocket Internet is preparing a Jumia IPO

Dianne Jacobs
Banking Crisis

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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Bitcoin Sinks Below $6,000 as Almost Every Cryptocurrency face downfall

Bitcoin dropped below $6,000 and dozens of smaller digital tokens tumbled as this month’s selloff in cryptocurrencies showed few signs of letting up. The largest digital currency fell as much as 6.2 percent to $5,887 as of 3:07 p.m. in Hong Kong, the lowest level since June, according to Bloomberg composite pricing. Ether sank as much as 13 percent, while all but three of the 100 biggest cryptocurrencies tracked by Coinmarketcap.com recorded declines over the past 24 hours. The total market capitalization of virtual currencies dropped to $192 billion from…

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Miss.Africa Digital Announces the 2018 $7,000 Seed Fund Winners, Kumasi Hive scoops top prize

Editor
Kumasi Hive from Ghana wins the 2018 5,000 USD Grand Prize while, CRNS Tunisia and Eco-Sol Consulting (Full STEM Ahead!) Seychelles will take home the Second category prize of 1,000 USD.

The Pan-African trust program of DotConnectAfrica (DCA) has released the winners of the 2018 Miss.Africa Digital Seed Funding for STEM Programs. The seed fund program is now in its third year Kumasi Hive from Ghana won the 2018 5,000 USD Grand Prize while, INTELLECT-Team at Laboratory of Technologies for Smart Systems (CRNS) Tunisia and Eco-Sol Consulting (Full STEM Ahead!) Seychelles will take home the Second category prize of 1,000 USD. Sophia Bekele, Founder & CEO of DotConnectAfrica Group, and the champion behind Miss.Africa Digital Program complimented the winners saying —…

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