🚌 BasiGo's $3million boost | 🪙 KuCoin charged with AML failures

In today’s menu ☕️

🏦 SWIFT Platform to Integrate Central Bank Digital Currencies expected in 12-24 months
🧑🏻‍🏫 Sprints.ai Secures $3 Million in Bridge Fundraising Round
💰AFC raises $1.16 billion syndicated loan in a bid to close Africa’s infrastructure gap
📱MTN Group plans market exit and sells stakes in Guinea-Bissau, Guinea-Conakry to Telecel
👩🏾‍💻 Opportunities

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🤖 ARTIFICIAL INTELLIGENCE

AI chatbot Grok will be accessible to all premium subscribers on X this week, announces Elon Musk

Elon Musk’s company, xAI, has announced the wider availability of its Grok chatbot, a competitor to OpenAI’s ChatGPT. Available to premium subscribers of xAI later this week, Musk made the announcement via a tweet which included a tutorial video on how to interact with Grok on the company’s website.

Previously, the chatbot was only accessible to Premium+ subscribers, costing $16 per month or $168 per year when billed annually. However, the new rollout to the cheaper Premium tier, costing $8 per month or $84 annually, paves the way for the Grok chatbot to be more readily accessible to consumers...……continue reading

🚌 TRANSPORTATION

BasiGo secures $3 million in funding to amplify bus production across East Africa

Kenyan electric mobility startup, BasiGo, has raised KSh396 million ($3 million) in equity funding to boost its electric bus production in Kenya and Rwanda. The financing was given by CFAO Group, shared between its Kenyan branch and corporate venture capital subsidiary, Mobility54.

This financial boost aims to support BasiGo in manufacturing and supplying their electric buses to the two East African countries. The startup has already received orders for 600 buses and anticipates that this funding will help expedite their delivery.……continue reading

🪙 CRYPTOCURRENCY

US charges KuCoin with Anti-Money Laundering failures

The cryptocurrency exchange KuCoin, renowned for its global presence, has found itself entangled in legal turmoil as federal prosecutors in Manhattan charge it with violating U.S. anti-money laundering laws. This development marks a significant juncture in KuCoin’s journey, raising questions about regulatory compliance and customer safety in the cryptocurrency sphere.

Since its inception in 2017, KuCoin has amassed a sizable user base and garnered attention as one of the world’s largest cryptocurrency exchanges. However, allegations of failing to vet customers and allowing the transfer of illicit funds have cast a shadow over its operations. Prosecutors claim that KuCoin sought business from U.S. customers without adhering to regulatory requirements, including customer identity verification mandated by U.S. law...…..continue reading

📱 TELECOMMUNICATION

MTN Nigeria and four others taken to court by the Copyright Commission over alleged copyright violations

MTN Nigeria Communications Ltd, along with its CEO, Karl Toriola, as well as Nkeakam Abhulimen, Fun Mobile Ltd, and Yahya Maibe, have been accused of copyright infringement by the Nigerian Copyright Commission (NCC). The accusation is based on allegedly unauthorized sales and trading of Nigerian artist and comedian, Maleke Idowu Moye’s musical works between 2010 and 2017.

The NCC asserts that the defendants utilized Maleke’s music and sound recordings for Caller Ring Back Tunes without his consent or authorization. The NCC alleges these music pieces were shared with subscribers without the requisite permission.

The commission cited musical works and sound recordings including 911, Miniminiwanawana, Stop Racism, Ewole, 911 instrumental, Radio, Low Waist, and No Bother as having been infringed on by the defendants. In the third count of the indictment, the defendants are charged with possessing the artist’s musical works and sound recordings for purposes beyond personal or domestic use..…..continue reading

OTHER STORIES

• Zeeh Africa launches GSI technology-based loan recovery solution to lower non-performing loan rates…..read more

• Canva acquires UK’s Affinity to enhance competition with Adobe in the design industry….read more

• VC slashes value of Wasoko stake, resulting in startup’s valuation dropping to $260 million…..read more

OPPORTUNITIES

• Norrsken Accelerator calls on early-stage African startup founders to apply…..read more

• AgriTech4Egypt Innovation Challenge invites applications from agri-tech ventures for a sustainable agricultural future….read more

• Invitation for Female Entrepreneurs to Apply: Bayer Foundation Women Empowerment Award….read more

• Call for Applications: Amazon Web Services South Africa’s Equity Equivalent Investment Programme for SMEs….read more

• Irish Tech Challenge 2024: Call for South African startups to help address global issues….read more

• 14th Orange Social Venture Prize in Africa and the Middle East Now Open for Applications…..read more

• Applications Now Open for the Second Edition of the BH Africa Startup Awards….read more