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

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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…

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Fear of ‘brand damage’ means less than 5% of businesses report online attacks

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Half of Irish companies have been victims of economic crime within the past two years — up from 34pc in 2016 and 26pc in 2010, according to a recent report from PwC on economic crime (stock image) Brand damage and embarrassment are among the reasons given for the under-reporting of cybercrime by Irish businesses to gardai. But, from a prevention and awareness level, it is important that this crime is reported, according to Michael Gubbins, Detective Superintendent and head of the Garda National Cyber Crime Bureau. It is estimated that…

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Study: Canadian tech sector outperforms finance

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The Brookfield Institute for Innovation + Entrepreneurship (BII+E), a non-profit arm at Ryerson focused on innovation research, has released The State of Canada’s Tech Sector 2016, a report that breaks down the technology sector’s key characteristics and its contribution to the economy. The tech sector, which consists of 71,000 companies, employs around 5.6 per cent of all working Canadians (864,000 of them), and they tend to make more than workers in other sectors, said the report. The average tech employee earns $67,000 per year compared to a national average of…

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Huawei And Vodacom Succesfully Test The First 1Gbps Network In Africa

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Yesterday in South Africa a telecommunication milestone was achieved as Huawei and Vodacom successfully tested Africa’s first 1Gbps network by aggregating LTE in both licensed and unlicensed bands within the Huawei Lampsite solution. As Huawei reports in a blog post, the peak speed hit over 1Gbps. In what was the first 1Gbps network and also the first 3 component carrier test in the continent, Huawei and Vodacom achieved a great feat that represented an important milestone for the 4.5G network. Another live trial has successfully demonstrated the co-existence of LTE…

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#ELLE101: #WomenInBusiness Twitter Chat with Sophia Bekele

ElleAfrique Women in Business
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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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Businesses neglect Internet security to protect reputation

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VietNamNet Bridge – Most Vietnamese companies are negligent when it comes to protecting their information on the Internet, VNCERT director Vu Quoc Khanh told Kinh Te & Do Thi (Economic and Urban Affairs) newspaper. Why do businesses attacked by hackers often hesitate to publicise information about the attacks? Recent attacks, especially the incident involving VC Corp’s websites, show that any organisation or business can be a potential target for hackers. However, most businesses prefer not to say anything about such attacks to protect their reputation. They only start asking for…

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Forbes lists 10 Emerging Women Entrepreneurs To Watch In Africa

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In June this year, She Leads Africa, a Nigerian-based social enterprise that aims to foster business growth in Africa by providing female startup entrepreneurs with the knowledge, networks, and financing to build and scale strong businesses, launched a business pitch competition. The purpose of the competition was to select ten exceptional young female entrepreneurs doing business in Africa to participate in an  Entrepreneur showcase, whereby the entrepreneurs would pitch their businesses to a panel of esteemed business leaders and investors, including Nigerian multi-millionaire telecoms tycoon Hakeem Belo-Osagie, Standard Chartered Nigeria…

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