🪙 Fintechs to freeze accts linked to crypto |🧑🏽‍🌾 iProcure enters administration after $17.2m

Today’s Menu ☕️

🤖 Kaduna State collaborates with Google to introduce Hausa-language AI educational series
🧑🏽‍🌾 Kenyan agritech startup, iProcure, enters administration due to debt woes after securing $17.2 Million in funding
🪙 Moniepoint and Paga set to freeze accounts linked to cryptocurrency transactions
📱Snapchat introduces editable chat messages feature

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🤖 ARTIFICIAL INTELLIGENCE

Kaduna State collaborates with Google to introduce Hausa-language AI educational series

The Kaduna State Government has collaborated with Google and Data Science Nigeria to launch the “AI for Beginners Learning Series,” a program aimed at empowering women in the northern region through technology. This educational series demystifies artificial intelligence by presenting concepts in the Hausa language, thereby making complex tech ideas more approachable and culturally pertinent to the area.……continue reading

🧑🏽‍🌾 AGRICULTURE

Kenyan agritech startup, iProcure, enters administration due to debt woes after securing $17.2 Million in funding

iProcure, an agritech enterprise based in Kenya that serves as a bridge linking distributors of agricultural products with manufacturers, has encountered financial difficulties, leading to its placement under administration as of April 26, 2024. The company’s inability to fulfill its financial obligations to creditors precipitated this development.

In response to the situation, the court has designated the advisory division of KPMG, a prominent audit and advisory firm, to take over the management of iProcure with the aim of rescuing the startup, which has previously received backing from Safaricom’s Spark Fund. The appointed administrator from KPMG is tasked with implementing measures to steer the company back to solvency and operational stability..……continue reading

🪙 CRYPTOCURRENCY

Moniepoint and Paga set to freeze accounts linked to cryptocurrency transactions

Moniepoint and Paga, two financial service providers, have recently communicated to their customers that any accounts found to be involved in cryptocurrency transactions will be subject to closure. This development follows the directive from the Central Bank of Nigeria (CBN) that instructed certain newly established banks, including Moniepoint, to halt the onboarding of new customers.

This action represents a significant shift from the Central Bank of Nigeria’s previous stance, which indicated an intention to reverse the prohibition on cryptocurrency dealings that was originally put in place in 2021. In a notice distributed to its customers on May 2, 2024, Moniepoint explicitly stated, “In accordance with CBN regulations, we will terminate the accounts of individuals engaged in cryptocurrency or other virtual asset transactions and will report their information to the appropriate authorities.”

Similarly, Paga, which operates under a license from the CBN, has informed its customers via email of its obligation to adhere to all regulations set forth by the CBN. The email included a reminder about the CBN’s directive which explicitly prohibits the involvement in or facilitation of cryptocurrency and other virtual currency transactions........….continue reading

📱SOCIAL MEDIA

Snapchat introduces editable chat messages feature

Snapchat is set to enhance its messaging service by introducing the capability for users to edit their messages, aligning with a feature that is common among other messaging platforms. This new functionality is anticipated to be made available to users in the near future. Initially, this feature will be exclusive to subscribers of Snapchat+, the platform’s premium service.

Once implemented, Snapchat users will be granted a five-minute period following the sending of a message during which they can make alterations. This could include rewording their initial message, correcting any spelling mistakes, or making other necessary edits. To maintain transparency, any message that has been edited will be clearly marked to indicate that the original text has been modified.....….continue reading

X introduces ‘Stories on X’ featuring AI-summarized news content powered by Grok

X has incorporated an AI-driven feature known as “Stories on X,” which utilizes Grok—an AI chatbot developed by Elon Musk—to create succinct summaries of trending news and discussions on the platform.

The way Grok operates is by analyzing the plethora of user posts on X to produce these brief text snippets. The AI-generated summaries vary in focus; some provide condensed versions of news stories, while others encapsulate the essence of ongoing dialogues within the X community…..continue reading

OTHER STORIES

• Empowering Quickteller Agents: Asante Financial Services and Interswitch Introduce Agent Float Financing…..read more

• Econet eliminates transfer fees to Zimbabwe from South Africa and UK to support families during drought crisis. ……read more

• Instagram’s ‘Add Yours’ sticker expands to include music sharing feature…..read more

• Huawei secretly sponsors American research despite blacklisting….read more

OPPORTUNITIES

• Google launches application process for African AI Start-ups Accelerator….read more

• Pitch2Win competition opens for Nigerian startups with $10,000 prize up for grabs….read more

• Call for Applications: 4th Cohort of AUDA-NEPAD’s Healthcare Accelerator Program…..read more