October 22, 2024 – Hakuna Matata Media

Afreximbank Increases CANEX Funding to $2B for Africa

7 months ago7 months ago04 mins

Afreximbank has announced a major boost to Africa’s creative economy, increasing its funding for the Creative Africa Nexus (CANEX) programme from $1 billion to $2 billion over the next three years. This commitment, made during the CANEX WKND 2024 opening ceremony in Algiers, highlights the Bank’s dedication to supporting Africa’s creative industries, which are showing tremendous potential for growth across sectors like film, music, fashion, and sports.

Kenya Tops Africa in Startup Fundraising Achievements

7 months ago7 months ago03 mins

Kenya has solidified its position as the leading African country in startup funding, raising an impressive $437 million (Sh56.5 billion), which accounts for 31% of the total funds raised on the continent in 2024. This remarkable growth underscores the strong confidence that global investors have in Kenya’s strategic location, fast internet speeds, and favorable business policies.

Three Kenyan FinTechs Chosen for Milken-Motsepe Prize in FinTech

7 months ago7 months ago05 mins

Three Kenyan fintech startups have made impressive strides by advancing to the Semifinalist Round of the Milken-Motsepe Prize in FinTech, each receiving $100,000 in funding. The startups—AZA Finance, Chumz, and Paycloud—are notable players in the fintech ecosystem, offering innovative solutions to address key challenges in financial services. AZA Finance focuses on providing businesses with low-cost, efficient services such as payments, currency exchange, and treasury management across major currencies. Chumz employs behavioral psychology in its gamified savings platform, helping individuals save at low costs. Meanwhile, Paycloud tackles the issue of late payments in Africa with seamless payment processing, automated invoicing, and financial tools designed to enhance the user experience.

Nigeria Ericsson Partner to Advance 5G Development

7 months ago7 months ago03 mins

The Nigerian government is taking significant steps to enhance its technological landscape through a new partnership with Ericsson focused on 5G connectivity. On October 18, a Memorandum of Understanding (MoU) was signed during a visit by a Nigerian delegation led by Vice President Kashim Shettima at Ericsson’s Global headquarters in Sweden. This partnership signifies a commitment to advancing Nigeria’s digital transformation objectives and establishing a robust framework for 5G development and innovation.

IZI Raises $222K, Expands Fleet with Electric Buses

7 months ago7 months ago05 mins

Africa-focused e-mobility provider IZI has announced remarkable milestones in its mission to electrify Rwanda’s public transport sector. In just four months of operation, the company’s initial fleet of five electric buses has achieved significant success, covering over 74,000 electric kilometers and carrying more than 250,000 passengers. This initiative has resulted in a 38% reduction in running costs, equating to savings of $34,000 in diesel expenses alone, while also mitigating over 60 tonnes of CO2 emissions. The impact of these electric buses is tracked in real-time through the IZI Connect platform, offering unprecedented transparency for client fleet operators and investors.

NCBA Launches Solar Leasing Product for Local Businesses

7 months ago7 months ago04 mins

NCBA Bank continues to advance its sustainability agenda with the launch of a new Solar Photovoltaic (PV) campaign, aimed at helping local businesses reduce carbon footprints and manage rising energy costs. Announced on Tuesday, this campaign underscores NCBA’s commitment to supporting businesses through innovative financial solutions that promote clean energy adoption and long-term sustainability

Meta Reintroduces Facial Recognition to Fight Celebrity Impersonation

7 months ago7 months ago04 mins

Meta, the parent company of Facebook and Instagram, has announced the reintroduction of facial recognition technology to tackle the growing issue of celebrity impersonation on its platforms. This move comes nearly two years after Meta initially discontinued its facial recognition system due to privacy concerns and regulatory scrutiny. The revamped system aims to protect public figures from impersonation, a major source of misinformation and scams targeting users.

Potraz Licenses IMC Comms to Resell Starlink Internet

7 months ago7 months ago03 mins

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has granted IMC Communications an internet service provider (ISP) license, positioning the company to officially resell Starlink’s satellite internet services. This landmark partnership with SpaceX-owned Starlink is set to revolutionize the internet landscape in Zimbabwe, bringing faster, more reliable, and lower-cost internet to areas previously underserved by traditional infrastructure.