📽️ Multichoice NG challenges regulator's N150m fine |🎮 Disc-less Xbox Series X console announced

Today’s Menu ☕️

📽️ MultiChoice Nigeria challenges regulator’s ₦150 million penalty
🛒 Copia Global reportedly dismisses entire workforce.
🎮 Microsoft announces a disc-less Xbox Series X console in white
🪢 Telecom Egypt and SubCom announce completion of IEX subsea cable landings in Egypt

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📽️ MEDIA

MultiChoice Nigeria challenges regulator’s ₦150 million penalty

On Friday, MultiChoice Nigeria, a subsidiary of the South African pay-TV operator, publicly declared its plan to challenge the verdict handed down by the Competition and Consumer Protection Tribunal in Abuja. The company expressed dissatisfaction, claiming that the tribunal had violated its right to a fair hearing.

The announcement followed a punitive action by the tribunal, which imposed a fine of ₦150 million on MultiChoice Nigeria for defying a court order that had temporarily prohibited the company from increasing the subscription rates for its DStv and GOtv services.

The ruling, issued by a panel of three members headed by Thomas Okosu, additionally mandated MultiChoice Nigeria to compensate its customers with a one-month complimentary subscription for both its DStv and GOtv platforms..........continue reading

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🛒 B2B COMMERCE

Copia Global reportedly dismisses entire workforce

Copia Global, a Kenyan B2B e-commerce company, has recently taken drastic measures by laying off over 1,000 employees two weeks ago, and now, it is reportedly dismissing its remaining workforce of 1,500. The staff expected to receive their termination notices on Friday.

The company’s troubles surfaced last month when CEO Tim Steel hinted at looming challenges, suggesting that layoffs and salary issues were on the horizon. He even indicated that, should the workforce reductions fail to alleviate the situation, a complete shutdown might be necessary.

Despite having been established in 2012 and raising a substantial $123 million through eight funding rounds, Copia Global found itself in a financial bind, necessitating a significant reduction in its workforce by about 1,000 positions. The difficulties in securing additional funding were cited as the primary reason for the downsizing. Even after securing $20 million in a Series C extension round in December 2023, the company was unable to reverse its fortunes..........continue reading

🎮 GAMING

Microsoft announces a disc-less Xbox Series X console in white

he new console option won’t include a disc drive, and will be entirely all-digital. Inside it’s identical to the Xbox Series X, with the same performance for existing Xbox games. This new white model will be available with 1TB of storage later this year, priced at $449.99.

Xbox president Sarah Bond revealed the new white Xbox Series X during the Xbox Games Showcase today, alongside a 2TB “Galaxy Black” version of the original Xbox Series X. There’s also a $349.99 1TB Xbox Series S coming in white, too....Microsoft made the white version of the Xbox Series X official on Sunday……....continue reading

🪢🪢 INFRASTRUCTURE

Telecom Egypt and SubCom announce completion of IEX subsea cable landings in Egypt

Telecom Egypt, the state-owned telecommunications provider in Egypt, in collaboration with SubCom, a leading supplier of subsea data communication systems, has successfully completed the landings of the India-Europe-Xpress (IEX) cable system within Egypt. This new system not only connects two continents—Asia and Europe—but also bridges two critical bodies of water, the Red Sea and the Mediterranean Sea, through two separate routes traversing Egyptian territory.

The IEX system is set to directly link Mumbai, India, with Milan, Italy, in Europe. Telecom Egypt has highlighted that this direct connection will enhance network diversity and support the provision of advanced, high-capacity telecommunications services.

This development comes in the wake of an incident in February 2024, when Seacom, another telecommunications entity specializing in subsea cables, reported an outage in their cable system located in the Red Sea. This disruption impacted the cable segment that runs from Mombasa, Kenya, to Zafarana, Egypt........continue reading

 OTHER STORIES

• Wema Bank bolsters platform security with facial recognition technology following ₦685 million fraudulent losses. Wema Bank, a prominent financial institution in Nigeria, has recently entered into a strategic partnership with Daon, a globally recognized company specializing in digital identity and trust solutions. This collaboration is aimed at bolstering the security of Wema Bank’s digital platform by incorporating advanced facial recognition technology. The move comes as a response to a series of incidents aimed at mitigating fraudulent activities on the bank’s platform.…..read more

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