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Aig-Imoukhuede Access Holdings Chairman 🤵🏽‍♂️ | Airtel Money IPO? 📲 | Spotify video streaming service 🎥

Aig-Imoukhuede Access Holdings Chairman 🤵🏽‍♂️ | Airtel Money IPO? 📲 | Spotify video streaming service 🎥

Innovation Village
March 14, 2024

In today’s menu 🥘

🤵🏽‍♂️Access Holdings announces Aig-Imoukhuede as new Board Chairman
🎥 Spotify rolls out video streaming service in Kenya, 10 other markets
📲 Airtel Africa contemplates IPO for mobile money unit amid significant revenue growth
⚖️ US House approves bill to force ByteDance to divest TikTok or face ban
🪙 Nigeria demands Binance’s user details amid executives’ detainment and crypto clampdown
🚀 Nigeria’s Space Agency postpones 2025 satellite launch due to funding constraints

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🤵🏽‍♂️PEOPLE

Access Holdings announces Aig-Imoukhuede as new Board Chairman

Mr. Aigboje Aig-Imoukhuede

Access Holdings has announced Aigboje Aig-Imoukhuede as the non-executive Chairman of the Board of Directors. This is in response to the untimely passing of the immediate past Group Chief Executive Officer of Access Holdings, Dr. Herbert Wigwe, CFR.

Aig-Imoukhuede was the pioneer Access Bank Group Chief Executive Officer/CEO. He replaces Abubakar Jimoh, the erstwhile Chairman of the HoldCo who remains on the Board as an Independent Non-Executive Director.

In his new role as Non-Executive Chairman, Mr. Aig-Imoukhuede will collaborate with the Board of Directors to oversee strategy and provide guidance to the executive management team....continue reading

🎥 VIDEO STREAMING

Spotify rolls out video streaming service in Kenya, 10 other markets

Music streaming giant, Spotify, has rolled out a video streaming service to revolutionize the way fans connect with their favourite artists. Recognizing the transformative impact of iconic music videos on pop culture, Spotify aims to enhance the artist-to-fan relationship by providing a new dimension for fans to explore and connect with music.

The move challenges the global dominant players in the music video streaming space like YouTube and Apple Music.

The beta version, which rolled out yesterday, offers a limited catalog of music videos featuring global sensations like Ed Sheeran, Doja Cat, and Ice Spice, as well as local favorites such as Aluna and Asake.

Premium users in the U.K., Germany, Italy, the Netherlands, Poland, Sweden, Brazil, Colombia, Philippines, Indonesia, and Kenya can access this feature on iOS, Android, desktop, or TV devices. Interestingly the list does not contain USA which has the most Spotify users or Nigeria where Nigerian artists lead Spotify’s Sub-Saharan Africa streaming charts.

However, Spotify says it will expand the catalog of music videos and bring the feature to more users and countries very soon...continue reading

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📱SOCIAL MEDIA

US House approves bill to force ByteDance to divest TikTok or face ban

The US House of Representatives has passed a significant bill which, if enacted, might result in TikTok being outlawed in America. The proposed legislation stipulates that ByteDance, the parent company of the social media behemoth, has six months to sell its predominant stake, failing which, the app will be terminated in the US.

Although this House bill passed with a bipartisan vote of 352-65, it yet requires Senate approval and the US president’s signature to become law. There have been long-standing concerns among lawmakers about China’s sway over TikTok. ByteDance, headquartered in Beijing, is obliged by a national security law to exchange data with Chinese officials....…continue reading

TikTok set to challenge Instagram with TikTok Photos

Even as ByteDance, the parent company of TikTok, faces a possible ban in the US, the Chinese video-sharing giant is set to introduce a new standalone photo-sharing app – TikTok Photos – to challenge Instagram…..continue reading

💰 INVESTMENTS

Airtel Africa contemplates IPO for mobile money unit amid significant revenue growth

Airtel Africa is currently contemplating taking its mobile money division, Airtel Money, public, with potential valuations exceeding $4 billion, according to a Bloomberg report. This development is still in the early stages of discussion and the company may eventually decide not to proceed with the initial public offering (IPO).

Presently, Airtel offers its mobile money services across 14 African countries. In Nigeria, it contends with MTN Momo, whereas in Kenya, it faces stiff competition from the mobile money behemoth, M-Pesa. In the previous year, Airtel was granted approval to raise the transaction limit to KES 500,000 ($3,400) up from the previous cap of KES 300,000 ($2,085).

The planned IPO for Airtel’s mobile money division aligns with the recent trend of investments in African mobile money providers. Notably, two years after its $100 million investment in Airtel Money, Mastercard secured a minor stake in MTN’s mobile money branch..…… read more

🪙 CRYPTOCURRENCY

Nigeria demands Binance’s user details amid executives’ detainment and crypto clampdown

The Nigerian government is stepping up its scrutiny of Binance, one of the world’s largest cryptocurrency exchanges, by demanding information about the platform’s top 100 users in the country. This development comes in the wake of the alleged detention of two Binance executives in Nigeria, believed to be linked to the role the company played in the depreciation of the local currency, the naira.

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has claimed that transactions totaling approximately $26 billion have been executed through the cryptocurrency platform by anonymous individuals.

Beyond requesting the identity of Binance’s top 100 users in Nigeria, the government is making inquiries into their transaction history on the platform for the past six months. According to reports from the Financial Times, this demand has become a cornerstone of the ongoing negotiations between Binance and the Nigerian government..…… read more