📱MTN Nigeria introduces paper-based SIM Cards | 🧬 Reflections of 54gene - Abasi Ene-Obong

Today’s Menu ☕️

📱MTN Nigeria introduces Eco-Friendly Biodegradable paper-based SIM Cards
🧬 54gene co-founder Dr. Abasi Ene-Obong addresses resignation and reveals personal hardships
🏦 Kenya’s Central Bank to Launch Instant Payment System Unifying Banks and Fintech Platforms
🤖 Ex-OpenAI CTO Mira Murati seeks VC funding for innovative AI startup venture
🏦 FBNHoldings Welcomes New Group Managing Director, Adebowale Oyedeji
💰Ghana-based AI startup Aya Data secures $900K in seed funding

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📱TELECOMS

MTN Nigeria introduces Eco-Friendly Biodegradable paper-based SIM Cards

MTN Nigeria has launched biodegradable, paper-based SIM cards as part of its Project Zero initiative to reduce greenhouse gas emissions and achieve net-zero by 2040. The eco-friendly SIM cards, made from 100% recyclable materials, aim to combat plastic pollution, offering a sustainable alternative to traditional PVC SIMs. This move aligns with the company's commitment to environmental responsibility, supporting local suppliers while promoting sustainability.

By reducing carbon emissions and waste, MTN encourages eco-friendly choices among customers, contributing to a more environmentally conscious future for Nigeria’s telecom industry. The initiative follows the Nigerian Communications Commission's push for mandatory sustainability reporting........continue reading

🧬 STARTUPS

54gene co-founder Dr. Abasi Ene-Obong addresses resignation and reveals personal hardships

In a detailed LinkedIn statement dated Thursday, October 17, 2024, Dr. Abasi Ene-Obong, the co-founder and former CEO of the African genomics firm 54gene, addressed the speculation and rumours that have been swirling since his resignation from the company. He took this opportunity to correct the record regarding his exit and to share the personal adversities he endured during that period.

Ene-Obong, who stepped down from his CEO role at 54gene in 2022 and from the company’s board in early 2023, characterized the ensuing internal discord as akin to “a hostile takeover.” He utilized the platform to refute allegations of financial misconduct, affirming that 54gene had not levied such accusations against him.......continue reading

🏦 BANKING

Kenya’s Central Bank to Launch Instant Payment System Unifying Banks and Fintech Platforms

The Central Bank of Kenya (CBK) is spearheading an ambitious initiative to revolutionize the nation’s payment infrastructure with the introduction of the Fast Payment System (FPS). This groundbreaking system aims to facilitate instantaneous financial transactions across a wide array of financial entities, including banks and payment service providers (PSPs). The CBK has yet to announce an official launch date for the FPS.

The FPS is designed to address the long-standing issue of interoperability between different payment systems, enabling Kenyans to effortlessly conduct a variety of transactions such as bill payments and money transfers, irrespective of their banking affiliation.

Previously, in an effort to resolve interoperability challenges, Pesalink was introduced in 2015 as a collaborative payment switch among Kenyan banks and other financial institutions. Pesalink’s role in facilitating electronic transactions across banks, mobile money platforms, and other financial entities has been significant, yet it lacks a dedicated segment for utility payments. The future position of Pesalink in the wake of the FPS rollout remains uncertain.........continue reading

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🤖 ARTIFICIAL INTELLIGENCE

Ex-OpenAI CTO Mira Murati seeks VC funding for innovative AI startup venture

Mira Murati, who previously held the position of Chief Technology Officer at OpenAI, made headlines last month when she announced her decision to leave the company. In a recent development reported by Reuters, Mira Murati is actively engaged in securing venture capital funding for her new venture in the artificial intelligence sector. The startup she is spearheading is said to be concentrating on the development of innovative AI products that are grounded in unique, proprietary models. The funding round for this nascent company is expected to be substantial, with projections suggesting it could attract upwards of $100 million.

During her departure from OpenAI, Murati shared a reflective message on an unspecified platform, X, where she acknowledged the transformative impact OpenAI has had on the evolution of AI systems, particularly in terms of their learning capabilities and problem-solving approaches, as evidenced by their latest releases. She expressed a desire to carve out time for personal exploration, which was a driving factor in her decision to step down. However, she refrained from divulging specific details about her future endeavors at that time............continue reading

Bloomberg Billionaires Index

According to Bloomberg Billionaires Index, Nigerian Aliko Dangote is the Africa’s wealthiest person.

🏦 FINANCIAL SERVICES

FBNHoldings Welcomes New Group Managing Director, Adebowale Oyedeji

FBNHoldings Plc, one of Nigeria’s premier financial institutions, has announced the appointment of Adebowale (Wale) Oyedeji as its new Group Managing Director (GMD). The appointment, which will take effect on November 13, 2024, is pending approval from the Central Bank of Nigeria and ratification by shareholders at the next Annual General Meeting. This leadership transition marks a significant moment for the company as it continues to evolve in a dynamic and competitive banking landscape.

Adebowale Oyedeji steps into this role with over 30 years of experience in the banking sector, having held prominent positions across corporate banking, treasury, and commercial banking. His appointment comes at a pivotal time for FBNHoldings, as the company is undergoing strategic board changes and implementing a new five-year plan designed to solidify its leadership position in the market...........continue reading

💰 FUNDING

Ghana-based AI startup Aya Data secures $900K in seed funding

Aya Data, an emerging AI consultancy firm based in Ghana, has successfully secured a seed investment of $900,000. This funding, comprising both debt and equity components, is earmarked for the expansion of the startup’s two innovative products, AyaGrow and AyaSpeech, as well as for the recruitment of additional skilled personnel.

With this latest financial infusion, Aya Data’s aggregate capital raised to date climbs to $1.15 million. The company’s initial capital raise involved a $300,000 investment from a consortium of investors, including Microtraction, Savannah Fund, and various UK-based investors. The most recent investment round was spearheaded by 54Collective and saw contributions from a number of angel investors.......continue reading

OTHER STORIES

• Ten fintech firms vie for grand prize in Milken-Motsepe innovation challenge..….read more

• Sterling Bank invites Nigerian startups to participate in the Green Innovation Challenge….read more

• Challenges for Zimbabwean startups in securing funding……..read more

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