Today’s Menu ☕️

🪙 Bitcoin just crossed $100,000
📈 Tech Giants Pay N2.55 Trillion in Taxes as Nigeria’s Digital Economy Thrives
🧱 Savannah Clinker Withdraws Bid, Clearing Path for Amsons to Acquire Bamburi Cement
🔋 UK Develops World’s First Carbon-14 Diamond Battery, Lasting Thousands of Years
🧑🏽‍💻 Binance and AltSchool Africa Partner to Award 500 Scholarships Across Africa
🥇 SAYeTECH Wins MEST Africa Challenge 2024, Secures $50,000 Funding
🚙 Mercedes-Benz Delivers First All-Electric Popemobile for Pope Francis

If you haven't subscribed, join over 7,000 people curious about Innovation, New Products, New Technologies in Africa.

🪙 CRYPTOCURRENCY

Bitcoin just crossed $100,000

It has finally happened! Bitcoin price has finally crossed the $100,000 since it launched more than 10 years ago. As of this writing, it is $102,800 according to CoinMarketCap; however it has reached an all time-high of $103,600.

Bitcoin surged in value after Donald Trump’s victory in the 2024 US Presidential Election. On Election Day, Bitcoin was priced at approximately $69,000 but jumped to $75,000 once Trump’s win was announced, according to CoinDesk. The cryptocurrency has continued to climb as investors anticipate a more favorable climate for crypto under the Trump administration.

Bitcoin’s breakthrough past the $100k milestone came shortly after Donald Trump announced key nominations for his administration, including former Republican SEC Commissioner Paul Atkins as his pick to lead the agency. Atkins, who co-chaired the Chamber of Digital Commerce’s Token Alliance, was praised by Trump for understanding that “digital assets and other innovations are vital to Making America Greater than Ever Before.”....……continue reading

📈 TAXES

Tech Giants Pay N2.55 Trillion in Taxes as Nigeria’s Digital Economy Thrives

The National Information Technology Development Agency (NITDA) has announced that Information and Communication Technology (ICT) companies operating in Nigeria, including Google, Microsoft, and TikTok, paid a total of N2.55 trillion in taxes to the Nigerian government during the first half of 2024.

This disclosure was made on Tuesday in a statement by NITDA’s Director of Corporate Communications and Media Relations, Hadiza Umar. The statement cited data from the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS).

NITDA highlighted the growing economic impact of the ICT sector on national development and commended tech giants for adhering to the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries. Companies such as Google, Microsoft, X (formerly Twitter), and TikTok were praised for their compliance with the regulatory framework....……continue reading

🧱 INDUSTRY

Savannah Clinker Withdraws Bid, Clearing Path for Amsons to Acquire Bamburi Cement

The acquisition battle for Bamburi Cement Plc has taken a decisive turn as Savannah Clinker Limited withdrew its $197.2 million bid, leaving Tanzania’s Amsons Industries (K) Limited as the sole contender with its $182.8 million offer. The decision, announced by the Capital Markets Authority (CMA) on December 4, 2024, follows a series of legal and financial challenges faced by Savannah Clinker and its chairman, Benson Ndeta.

Savannah Clinker’s withdrawal comes in the wake of Ndeta’s arrest and indictment on fraud charges. He is accused of fraudulently securing a $35 million loan from Absa Bank Kenya eight years ago and faces additional allegations of financial misconduct tied to his previous venture, the defunct Savannah Cement.

In a statement, Savannah attributed its decision to the financier of its bid, Global Infrastructure Finance and Development Authority Inc. (GIFDA), withdrawing support due to the legal uncertainties surrounding Ndeta. The company also blamed the CMA for declining its request to extend the offer period by 60 days to address due diligence concerns...……continue reading

🔋ENERGY

UK Develops World’s First Carbon-14 Diamond Battery, Lasting Thousands of Years

Scientists and engineers from the UK Atomic Energy Authority (UKAEA) and the University of Bristol have unveiled a groundbreaking innovation: the world’s first carbon-14 diamond battery. This cutting-edge energy solution has the potential to power devices for thousands of years, opening new frontiers in sustainable, long-lasting energy sources.

The key to the battery’s extraordinary longevity lies in its use of carbon-14, a radioactive isotope renowned for its role in radiocarbon dating. This isotope enables the diamond battery to produce continuous, low-level power over extended periods. The technology operates similarly to solar panels, which convert light into electricity. However, instead of photons, the diamond battery captures fast-moving electrons generated by the radioactive decay of carbon-14, which has a half-life of 5,700 years.....……continue reading

🧑🏽‍💻 EDUCATION

Binance and AltSchool Africa Partner to Award 500 Scholarships Across Africa

Binance, a global leader in cryptocurrency exchange, has joined forces with AltSchool Africa to offer full-tuition scholarships to 500 young Africans. The initiative, set to run from January 2025 to December 2025, aims to bridge Africa’s digital skills gap by providing specialized training in software engineering, cybersecurity, sales, and content creation. This partnership is designed to empower the next generation with the tools needed to excel in today’s evolving job market.

The scholarships will give recipients access to AltSchool Africa’s structured programs, which focus on cultivating in-demand skills critical for thriving in the global digital economy. Beyond classroom learning, participants will receive mentorship, career support, and practical training, ensuring a solid foundation in their chosen fields......…continue reading

🥇COMPETITION

SAYeTECH Wins MEST Africa Challenge 2024, Secures $50,000 Funding

The Meltwater Entrepreneurial School of Technology (MEST Africa) has crowned SAYeTECH as the winner of the MEST Africa Challenge (MAC) 2024, the continent’s premier pitch competition for emerging tech entrepreneurs. SAYeTECH, a Ghanaian startup, impressed judges with its innovative agricultural machinery tailored specifically for African farmers, securing $50,000 in equity funding to scale its operations.

The MAC 2024 grand finale, held in partnership with the Norwegian Embassy in Accra, showcased innovative solutions under the theme ‘Find Your Soil’, which highlighted AgriTech advancements in West Africa. SAYeTECH’s win underscores the growing importance of technology in revolutionizing agriculture and boosting productivity for smallholder farmers in the region.........…continue reading

🚙 AUTOMOBILE

Mercedes-Benz Delivers First All-Electric Popemobile for Pope Francis

For nearly a century, Mercedes-Benz has been the trusted vehicle supplier for the Vatican. Now, the company has reached a groundbreaking milestone by delivering the first-ever all-electric Popemobile to Pope Francis. This sustainable upgrade arrives just in time for the 2025 Jubilee, an event held once every 25 years, expected to draw millions of pilgrims to Rome.

The new Popemobile, a customized electric version of the G-Class, aligns with Pope Francis’ call for environmental stewardship as outlined in his encyclical Laudato Si. This development underscores a shared commitment between Mercedes-Benz and the Vatican to sustainable innovation while preserving the traditions of a historic partnership..........…continue reading

OTHER STORIES

• Tanzanian fintech startup Tunzaa secures funding to scale innovative payments API……read more

• Meta Confirms Plans to Utilize Nuclear Power for US Data Centers…..read more

• Walmart Completes $2.3 Billion Acquisition of Vizio, Expanding Its Reach into the Advertising Market……read more

Do you know you can join and follow us on our WhatsApp Channel?