Visa and Mastercard are setting their sights on Africa’s fintech market. Africa’s booming fintech sector E-commerce is booming across the continent. The Wall Street Journal reports that by the end of this year, an estimated 435 million Africans are expected to shop online, a nearly twofold increase since the pandemic. However, people are less likely to make payments using cards than in other global markets, relying instead on mobile money, digital wallets, and bank transfers. Visa and Mastercard, determined to stay relevant, are pouring millions of dollars into the continent
April Fools’ Day is known for its jokes, but in the tech world, it can be challenging to tell what’s real and what’s not, even on regular days. A lot is happening in tech, from ingenious deceits to blatant scams. We’ve got stories about everything from a Black tech pro who made up a fake assistant to earn more respect to the wrong use of AI in politics and huge money tricks in the crypto world. Here are 9 POCIT stories to check out this April Fools’ Day. 1. The
Wasoko, one of Africa’s largest B2B grocery marketplaces, has experienced a 48% markdown in its valuation. A B2B Grocery Marketplace Founded by Daniel Yu in 2014, Nairobi-based Wasoko has grown remarkably, expanding its operations across multiple African markets. By 2023, it boasted a significant customer base, secured agreements with major suppliers, and offered competitive pricing. TechCrunch reports that VNV Global, a Swedish investment firm, has revised Wasoko’s value to about $260 million, a 48% reduction from previous estimates, according to its annual report for 2023. This revision coincides with Wasoko’s planned merger
Meta Platforms Incorporated recently announced that it will enable content creators in Nigeria and Kenya to monetize their content on Instagram and Facebook starting June 2024. Monetizing Instagram Content Spearheaded by Nick Clegg, President of Global Affairs at Meta, this initiative aligns with the growing recognition of Africa’s digital potential. Meta will introduce a feature on its Instagram app in June, allowing Nigerian creators to monetize their content and earn a living using it. Creators can run ads in-stream and engage with an international audience. “Nigerian creators have global reach,” Nick Clegg, the company’s President of
Data from 22 leading institutions has found that enrollments of underrepresented minorities in MBA programs have declined or stagnated since 2020. A Drop In Enrollment Of Underrepresented Minorities Following George Floyd’s death in 2020, which ignited a push for racial justice, top U.S. business schools pledged to increase diversity. However, the University of Michigan, Virginia, and Berkeley have seen significant drops in minority student numbers. For instance, Virginia and Berkeley’s 2025 classes included just 6% underrepresented students, and Michigan had 7%. These figures heavily contrast with their previous commitments to diversity. Despite some schools’ slight improvements, the overall
Tech workers reliant on H-1B visas are facing concerns as fees for these visas and green cards are set to increase next month for the first time since 2016. An Increase In Visas Fees The increase, set to go into effect April 1, was initiated by the U.S. Citizenship and Immigration Services (USCIS) to address a backlog of soaring application numbers, reaching 10.9 million in 2023. Additionally, the fees for H-1B visas, needed for thousands of highly skilled tech workers, will increase by 70% for large employers, moving from $460 to $780. However,
The Sims franchise, hair brand Dark & Lovely, and award-winning gaming content creator Danielle “Ebonix” Udogaranya have partnered to address the lack of diversity in gaming. Introducing More Black Hairstyles In Sims Dark & Lovely, a leading hair color brand for Black women, is known for its products tailored to the specific beauty needs of Black women. Collaborating with The Sims 4 and Ugogaranya, they aim to enhance the representation of Black hairstyles within the game. This effort is to empower Black gamers to express themselves more authentically in virtual spaces. “We are excited with this
Three students at North Carolina Agricultural and Technical State University (N.C. A&T) have been named 2023 Astronaut Scholars, marking a historic moment for historically Black colleges and universities (HBCUs). A Historical Moment For HBCUs The Astronaut Scholarship was founded in 1984 by the surviving members of the Mercury 7 crew members. It stands as one of the nation’s most prominent scholarships for students pursuing STEM degrees. N.C. A&T is the first HBCU to have more than one Astronaut Scholarship recipient in a year, a significant milestone in promoting diversity in STEM fields. The scholarships,
US Judge Charles R. Breyer has sided with the Center for Countering Digital Hate (CCDH), dismissing a high-profile lawsuit filed by Elon Musk and his social media company, X. Musk’s Lawsuit Against CCDH Last year, Musk’s X, formerly Twitter Inc, sued the nonprofit CCDH over its report describing the extent of hate speech on the social media platform. Led by Imran Ahmed, CCDH aims to protect online human rights and civil liberties. The CCDH report said that X failed to act against 99% of 100 Blue accounts that it had
Twitch streamer and YouTuber Kai Cenat has recently committed to building a school in Lagos, Nigeria. Cenat Visits Nigeria Cenat recently visited the Makoko Children Development Foundation School and Orphanage in Lagos, where he saw the dire conditions of the students and staff. Documented on his YouTube channel, the visit highlighted the school’s sinking building, limited space, and the struggle to provide a learning environment for its 385 students. The 23-year-old principal’s plea for help to rebuild and expand the school resonated deeply with Cenat. “First of all, I want to say it’s
