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Nigeria, Africa’s top cryptocurrency market, is in a major dispute with Binance, one of the biggest names in the crypto world.  Nigeria’s government has intensified its crackdown on unregulated crypto activities, resulting in a serious impasse following escalating tensions between Binance and the government. Binance is one of the world’s largest cryptocurrency exchanges. Nigeria cracks down on crypto Nigeria is currently grappling with a debilitating economic crisis, with inflation soaring to nearly 30%. The Nigerian government has turned its attention to cryptocurrency in an attempt to stabilize its currency, the naira (NGN). The

Idris Elba, renowned British actor and DJ, is steering his creative process towards building a “smart eco-city” on Sherbro Island, off Sierra Leone’s coast.  Elba’s Plans According to CNN, Elba, a Sierra Leonean citizen, focuses on blending technological innovation and environmental consciousness in this project. The initiative, in collaboration with Sherbro Alliance Partners and the Sierra Leone government, is an investment venture and a heartening return to his roots, as Elba’s father hailed from Sierra Leone. Sherbro Island, approximately the size of Chicago and historically significant in the slave trade

Recent research has raised alarming concerns about covert racism in AI language models. Experts from the Allen Institute for AI, the University of Oxford, Stanford University, LMU Munich, and the University of Chicago conducted the study. It revealed that these models, including GPT4, manifest bias against African American Vernacular English (AAE) speakers.  This troubling revelation brings to light how AI can perpetuate racial stereotypes, leading to unfair and discriminatory outcomes. What Did The Study Find? The study, co-authored by Valentin Hofmann, Pratyusha Ria Kalluri, Dan Jurafsky, and Sharese King, found

Conducive Capital, a newly formed South African venture capital firm, has launched a $50 million fund for early- and growth-stage tech startups across Africa. Meet The Team The fund is headed by Clive Butkow and Mitchan Adams. Butkow is the founder and former CEO of Kalon Venture Partner and former COO of Accenture South Africa. Alongside Adams, the co-founder of Ozow and current CEO of Aions, the two have collectively invested over R300 million, with an internal rate of return of more than 30% over the past seven years.  Their combined expertise is set to invigorate the African

The U.S. Court of Appeals for the District of Columbia sided with major tech giants in a case concerning the alleged use of child labor in cobalt mines in the Democratic Republic of the Congo (DRC).  According to Reuters, in a unanimous 3-0 decision, the court ruled that these companies, including Apple and Tesla, cannot be held liable for their involvement in cobalt sourcing. Cobalt sourcing is critical in producing lithium-ion batteries essential for numerous electronics and electric vehicles. The Lawsuit The lawsuit, brought forward by former child miners and

The Burns Brothers are making history with Africa’s first-ever African-American-owned private membership club.  Their visionary enterprise, HQ, initially launched in Washington, DC, is now expanding to Nairobi, Kenya, setting a new precedent in the global business sphere.  This expansion marks a significant milestone, as it is the first instance of a private membership club on the African continent owned by African Americans. “Africa’s burgeoning status as a global economic powerhouse, its projection to account for one-quarter of the world’s population by 2050, and Kenya’s emergence as a promising economic epicenter

Gerald Black, an acclaimed figure in the African tech ecosystem, has recently been appointed as a Partner at Black Ops and is launching a new initiative: Black Ops Catalyst.  This marks a step in Black Ops’ mission to extend its influence across Africa’s tech landscape, emphasizing the importance of operators in shaping and scaling successful ventures. Meet Gerald Black With over a decade of experience as a founder and operator and a background in computer engineering, Gerald is no stranger to the tech world. His journey has seen him navigate the challenges of

Uber Technologies Inc. is set to invest in Nigerian startup Moove in a funding round that could reach up to $100 million, Bloomberg reports. Moove Founded in Lagos in 2020 by British-born Nigerian entrepreneurs Ladi Delano and Jide Odunsi, Moove has expanded its reach beyond its origins. The duo’s aim is to build the world’s largest integrated vehicle financing platform for mobility entrepreneurs. With its headquarters in Amsterdam, the company now operates across Africa, the UK, the UAE, and India.  Moove’s innovative business model revolves around a unique credit-scoring system,

Showmax, a South African company, has surpassed Netflix to become the leading streaming platform in Africa.  With a subscriber count of 2.1 million in Africa as of November 2023, surpassing Netflix’s 1.8 million, Showmax’s rise signifies a significant change in the region’s media consumption habits. Showmax Showmax is an online subscription video-on-demand service that launched in South Africa in August 2015. Its majority owner is MultiChoice, which owns 70% of the Showmax group, while NBCUniversal owns 30% in all territories except Nigeria. The platform’s content strategy, which focuses heavily on

Partech, a global technology investment firm, has closed its second Africa-focused fund, Partech Africa, at over €280 million ($300 million). Partech Africa  The achievement surpasses its initial target of €230 million, marking Partech Africa as the largest fund dedicated to African startups​​​​​​. Partech Africa partners with entrepreneurs who combine technology and operational excellence to address large opportunities across the continent. The African startup landscape experienced a downturn in investment activities in 2023, with venture capital inflows decreasing to between $2.9 billion and $4.1 billion. This contrasted the $4.6 billion to

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