inDrive into Fintech 🚙 | Twiga Foods CEO Peter Njonjo resigns 🎋

In today’s menu

• Twiga Foods CEO Peter Njonjo resigns from the board

• inDrive Explores Financial Services to Support Drivers in Developing Markets

• 13 Biggest AI Stories of 2023

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

Tenth Code Media Limited presents a 2-day training on New Product Development and Management Fundamentals

Embark on a transformative journey for the new year with a cutting-edge Product Development and Management Training! Elevate your skills and empower your team to thrive in the dynamic landscape of innovation.

Led by seasoned industry experts from Tenth Code Media Limited, this comprehensive program covers the latest methodologies, market trends, and strategic insights to propel your product initiatives to unprecedented heights.

COMPANIES

Twiga Foods CEO Peter Njonjo resigns from the board

Twiga Foods’ founder and longstanding CEO, Peter Njonjo, has resigned from the company’s board a month after his dramatic departure as chief executive, concluding a decade-long tenure at the forefront of one of Kenya’s prominent agritech firms.

This development unfolds against the backdrop of Twiga navigating a series of operational challenges, including staff layoffs, deferred payments to suppliers, and delayed salaries for workers, prompting the company to announce a substantial 40 percent reduction in its workforce last year.

The announcement of Mr. Njonjo’s departure was initially made public on December 14, coinciding with the revelation that the longstanding CEO had taken a six-month leave immediately after successfully overseeing the closure of a new funding round, estimated at $35 million…..read more

ARTIFICIAL INTELLIGENCE

13 Biggest AI Stories of 2023

In 2023, the field of artificial intelligence witnessed a significant transformation — generative AI emerged as the most prominent and impactful story of the year. Driven by remarkable progress in large language models, the technology showcased impressive abilities in domains ranging from healthcare and education to creative arts and political discourse. The year saw models match or surpass human performance in some intricate tasks, such as answering complex medical exam questions, generating persuasive political messages, and even choreographing human dance animations to match diverse pieces of music.

Here are 13 Biggest AI Stories of 2023 …..read more

FINTECH

inDrive Explores Financial Services to Support Drivers in Developing Markets

inDrive is delving into the realm of financial services, aiming to provide a safety net for drivers navigating the challenges of developing markets. Mark Loughran, the dynamic president and deputy CEO who joined inDrive last summer, envisions this venture as a catalyst for enhanced financial stability among the drivers populating its platform.

The newly charted course into financial services primarily targets drivers in markets grappling with financial instability..…..read more

OTHER STORIES

• Funke Akindele’s ‘A Tribe Called Judah’ hits N1 billion mark at box office. Funke Akindele’s ‘A Tribe Called Judah’ has become the first Nollywood film to surpass N1 billion at the box office. FilmHouse Group announced this in a statement on Thursday, last week. The historic feat marks a significant milestone in the Nigerian film industry and showcases the global appeal and strength of local productions at the cinema……read more

• Nasarawa govt. removes right of way charges for telecom infrastructure. The Nasarawa State Government has officially approved the removal of Right of Way, RoW, charges for the installation, placement, laying, and maintenance of telecommunications network facilities within the state.

  This decision was revealed by signing the Right of Way Regulation 2023, which took effect on December 29, 2023…..read more