Africa, a continent rich in potential and resources, is transforming digitally through blockchain technology. Once plagued by inefficiencies and bureaucratic challenges, African economies leverage blockchain to bring transparency, accessibility, and empowerment to areas previously constrained by outdated systems. The Challenges Before Blockchain Historically, Africa has faced numerous hurdles that stifled economic growth: Kenya’s Financial Inclusion…
The Africa Tech Festival Awards 2024 took centre stage on 13 November 2024 at the picturesque Bay Hotel in Camps Bay, Cape Town. This annual celebration honoured groundbreaking technological achievements, innovative projects, and visionary leaders transforming Africa's tech landscape. Led by Ciara McDonald Heffernan, Senior Conference Producer, the event brought together industry leaders and innovators,…
Ambassador Fashina Olaoluwa, representing Nigeria at the Best Diplomatic Conference in the United Kingdom (UK), highlighted Nigeria's status as Africa's leading financial technology (FinTech) hub. In his address, he emphasized how Nigeria has been a key player in fostering a fair, inclusive technological ecosystem and closing the digital divide across the continent. Nigeria's Commitment to…
The rise of digital platforms in Africa is accelerating due to growing mobile phone usage, expanding internet access, and a youthful population highly attuned to technology. These factors create an ideal environment for economic innovation and make Africa a prime destination for tech investment. This article explores the key drivers of Africa's tech revolution, particularly…
Quidax Sponsors BusinessDay’s Blockchain Conference: A New Era for Nigeria’s Cryptocurrency Industry
BusinessDay's annual blockchain conference, a key event in Africa's digital development, will take place on September 11, 2024, at the Radisson Blu in Victoria Island, Lagos. This year's theme, "Building Africa's Future: Harnessing Blockchain for Social and Economic Transformations," emphasizes the significant impact blockchain technology can have on the continent's growth. The conference presents a…
Klarna, the buy now, pay later company, plans to significantly reduce its workforce through efficiencies gained from artificial intelligence (AI). After cutting its staff from 5,000 to 3,800 over the past year, Klarna aims to reduce its staff further 2,000 by leveraging AI in marketing and customer service. CEO Sebastian Siemiatkowski highlighted that these job…
Africa is rapidly becoming a hub for financial technology (fintech) innovations, driven by the rise of mobile money and other digital financial services. This guide will walk you through the essentials of building a successful fintech startup in Africa, focusing on critical mobile money companies, the continent's economic impact, and how generative AI and large…
Michael Wallis-Brown, Group Head for Ericsson Mobile Financial Services, recently highlighted Ericsson and MTN's unique and game-changing collaboration. Unlike any other, this partnership is pioneering advancements in mobile financial services across the African continent. Key Partnership Highlights: Foundation for Mobile Money: Ericsson provides a robust infrastructure and software platform to support MTN's mobile money services…
In its ongoing rivalry with Ethereum, Solana has secured a significant partnership with an unexpected ally—PayPal. On Wednesday, the online payments giant announced that its stablecoin, PayPal USD (PYUSD), is now available on the Solana blockchain network. This move not only enhances Solana’s credibility in the massive $2.6 trillion payments processing market but also sets…
In a recent security incident, Flutterwave, a leading African fintech company, lost between ₦ $11 billion ($7 million) and ₦ $20 billion ($13.5 million) due to unauthorized transactions. This breach occurred just one month after Flutterwave obtained a court order in February to recover $24 million lost in a previous security breach last October. The…