Category: BUSINESS

Internet Solutions pilots pay-per-use Internet

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Data

Internet Solutions (IS), formerly Access Kenya Group, will offer consumption-based billing for businesses as opposed to the traditional fixed billing. The Internet firm is piloting the service that will see businesses pay as per their usage, cutting down on extra costs experienced during down time and off-peak seasons. “Bandwidth is widely considered a utility like power and water and users want it where and when they need it. “Enterprises are demanding convenience and flexible consumption models that respond to their needs,” Internet Solutions managing director Richard Hechle (pictured). According to…

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SEC Suspends Exchange-Traded Bitcoin and Ether Investment Vehicles as market crash continues

olivia Craig

Ether, the second-largest virtual currency, slumped 8.9% from its level at 5 p.m. New York time on Friday, according to Bloomberg composite pricing. Bitcoin lost 2.1%, while the market capitalization of digital assets tracked by CoinMarketCap.com shrank to $197 billion — down about $640 billion from its January peak. Cryptocurrencies have declined for five of the past six weeks amid concern that a broader adoption of digital assets will take longer than some had anticipated. That worry was underscored over the weekend after the U.S. Securities and Exchange Commission temporarily…

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Google reportedly paid millions of dollars in secret data deal with Mastercard to track retail sales

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Facebook

For the past year, select Google advertisers have had access to a potent new tool to track whether the ads they ran online led to a sale at a physical store in the U.S. That insight came thanks in part to a stockpile of Mastercard transactions that Google paid for. The revelation comes amid heightened concern about how much consumer data is consumed by tech companies like Google. Earlier this year, Facebook was criticized when data on as many as 87 million people was improperly shared with Cambridge Analytica, raising…

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e-Commerce in Africa could hit US$75 billion by 2025

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COVID 19 Read consumer

How to capitalise on the African Continental Free Trade Area (AfCFTA) and develop an African e-commerce strategy for possible adoption by the Africa Union (AU) dominated discussion at a recent AU conference in Kenya. Jean Bertrand Azapmo, Regional Trade Advisor at the AU Trade & Industry Department, said, “The roadmap provides for the mapping of stakeholders and the creation of Multi-stakeholder Working Group/Platforms so as to provide an opportunity for African SMEs and startups to share experiences and best practices, share ideas; which is crucial for e-commerce development.” e-commerce can…

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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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Bekele calls for the business world to balance between profit and social impact at the 2018 EurAfrican forum in Portugal

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To build its social capital,”The world needs to find the right balance between profit and social impact”. Sophia Bekele Founder & CEO of DotConnectAfrica Group Joined other distinguished speakers at the one-day exclusive High-Level 2018 EurAfrican forum held under the High Patronage of the President of the Portuguese Republic, Marcelo Rebelo de Sousa and the Government of Portugal who pleaded for a “sustainable” strategy for Europe and Africa that builds bridges between the two continents This year’s forum which was organized by special invite, is themed “Crafting Coalitions for Change,…

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MultiChoice Shouts for Netflix to be regulated, Blames itself for not innovating

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A message Netflix gave Verizon home Internet customers during a money dispute in 2014.

Pay-TV operator MultiChoice lost more than 100,000 premium subscribers in the previous financial year. CEO Calvo Mawela attributed this loss of business to unregulated competition from video-streaming company Netflix, saying it had an unfair advantage as it was not under any regulatory pressure in SA. The pay-TV operator that continues to bleed subscribers, is fighting tooth and nail to remain relevant amid tough competition from online streaming services. However, MultiChoice, which owns DStv, said it was aware that failure to adapt its business model could make it a victim of…

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Senegalese-Born Musician Akon To Launch Akoin Cryptocurrency

The American-based Senegalese artist says the cryptocurrency will be the currency of choice in Akon Crypto City, a 2,000-hectare development which is under construction in an area just outside Dakar, Senegal’s capital city. The rapper describes the development as the real-life Wakanda. He also believes the technology has benefits for those on African soil, disadvantaged by political and social circumstances. Unfortunately, Akon didn’t reveal any technical details of the cryptocurrency. CANNES — Senegal-born star Akon — whose Lighting Africa project is bringing solar power to Africa — is at Cannes…

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Lyft makes it easier to track business travel expenses

Dianne Jacobs

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…

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Sky.Garden: Revolutionizing Kenya’s E-Commerce Sector

Dianne Jacobs

Upon noticing that the economic sector in Kenya only caters for the top tier in the economic pyramid which leaves little room for individuals and businesses that exist within the lower segments of the economy to reap the benefits of online transactions, Sky.Garden decided to come up with a sophisticated eCommerce platform that they can use to expand their geographical reach. ITBusinessDirect spoke to Isaac Hunja the Chief Marketing Officer about their work. How can you define the technology sector in Kenya? I would describe the technology sector in Kenya…

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