💰Nigeria's $5 Billion Initiative to Boost Tech Sector

Today’s Menu ☕️

💰 Nigeria Launches $5 Billion Technology Export and Digital Trade Desk to Boost Tech Sector
🤖 OpenAI secretly re-opening its Robotics division
📽️ YouTube rolls out 3-minute Shorts to all users
💻 Samsung Unveils Galaxy Book5 Series: AI-Powered Innovation and Seamless Connectivity
🏢 Ethiopia Launches Securities Exchange After 50-Year Hiatus
🏦 Zambia SEC sanctions Standard Chartered Bank for mis-selling Sino-Ocean bonds

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💰 INVESTMENTS

Nigeria Launches $5 Billion Technology Export and Digital Trade Desk to Boost Tech Sector

The Nigerian government has introduced the $5 Billion Technology Export and Digital Trade Desk, an initiative aimed at strengthening the country’s tech sector, driving innovation, and fostering international competitiveness. The project, launched by the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, in collaboration with the Federal Ministry of Industry, Trade, and Investment, sets ambitious goals for the nation’s tech ecosystem.

According to Dr. Tijani, the Trade Desk seeks to increase Nigeria’s technology sector’s contribution to GDP from the current 14–18% to 21% within the next three years. A major objective of this initiative is to scale up annual funding for Nigerian startups from $1 billion to $5 billion within the same period. By offering targeted support to local tech companies, the Desk aims to enhance their ability to compete in African and global markets, fostering innovation and entrepreneurship...….…continue reading

🤖 ARTIFICIAL INTELLIGENCE

OpenAI secretly re-opening its Robotics division

OpenAI is secretly working on re-opening its Robotics division if we go by Caitlin Kalinowski’s post on the X platform. This is an interesting turnaround as the company closed the doors on its robotics division in 2020 to focus on building Large Language Models, capable of achieving Artificial General Intelligence.

Caitlin Kalinowski announced plans for OpenAI to create robots with custom sensors. Caitlin Kalinowski, who recently left Meta, leads the robotics and consumer hardware initiatives at OpenAI, focusing on integrating artificial intelligence into physical devices.

The job postings reveal that the newly established robotics team will concentrate on creating “general-purpose,” “adaptive,” and “versatile” robots designed to function in dynamic, real-world settings with human-like intelligence.

To achieve this vision, the team will integrate sensors and computational components, leveraging OpenAI’s existing models and technologies to seamlessly combine hardware with software. Their goal is to design and mass-produce highly capable robots—potentially humanoid in form and possibly equipped with limbs—with a production target reportedly exceeding one million units..….…continue reading

TRAINING FROM TENTH CODE MEDIA

2-day training on New Product Development & Management Fundamentals

Join a 2-day training on New Product Development and Management to master the skills needed to innovate, launch, and manage successful products in today’s competitive market. Click here to register and attend the training.

Date: 5-6 February, 2025

📽️ VIDEO STREAMING

YouTube rolls out 3-minute Shorts to all users

YouTube Shorts has reached a new milestone with the full integration of 3-minute videos, offering creators greater flexibility and enhanced tools to produce engaging content. This feature was rolled out in four phases to ensure a smooth transition.

Starting in October 2024, videos up to three minutes long were classified as Shorts, and by early 2025, YouTube had upgraded its in-app tools to support the creation and editing of these longer videos. This phased approach has allowed YouTube to refine its algorithm, integrate longer Shorts into the Shorts Feed and channel pages, and expand opportunities for creators to showcase their work.

For creators, the availability of 3-minute Shorts unlocks extended storytelling possibilities, improved accessibility through updated tools, and additional monetization options. Videos uploaded after October 15, 2024, qualify for revenue sharing in the Shorts Feed, while older videos remain monetized under the long-form model....…..continue reading

💻 GADGETS & DEVICES

Samsung Unveils Galaxy Book5 Series: AI-Powered Innovation and Seamless Connectivity

Samsung has introduced the Galaxy Book5 Pro and Galaxy Book5 360, the latest additions to its Galaxy Book lineup, designed to cater to the growing demand for AI-powered computing. Both models feature Intel® Core™ Ultra processors with Neural Processing Units (NPUs) capable of 47 TOPs, enabling advanced AI functionalities. Notable features include AI Select, which simplifies information retrieval by allowing users to highlight areas on the screen for instant searches, and Photo Remaster, an AI-driven tool that enhances image quality by retouching and sharpening photos, even older ones.

The Galaxy Book5 Pro is available in 14-inch and 16-inch models, equipped with Dynamic AMOLED 2X displays boasting 3K resolution and 120Hz refresh rates. Vision Booster technology optimizes visibility by adjusting contrast and colors based on ambient lighting.

Meanwhile, the Galaxy Book5 360 comes with a versatile 15.6-inch AMOLED touch display with Full HD resolution and a 360-degree hinge, allowing it to function as a laptop, tablet, or presentation device. These enhancements highlight Samsung's commitment to productivity and seamless integration within the Galaxy ecosystem...…..continue reading

🏢 FINANCIAL SERVICES

Ethiopia Launches Securities Exchange After 50-Year Hiatus

Ethiopia has launched its first securities exchange in 50 years, marking a significant milestone in Prime Minister Abiy Ahmed‘s efforts to open up the country’s tightly controlled economy to private investment. The Ethiopian Securities Exchange (ESX) was officially inaugurated on Friday, a move that officials believe will transform the economic landscape.

Initially, only one company, Wegagen Bank, was listed on the ESX. However, ESX Chief Executive Tilahun Kassahun expressed optimism that up to 90 companies would join the exchange over the next decade. Among the anticipated listings is the state-owned telecom giant, Ethio Telecom, which is preparing for an initial public offering (IPO)....…..continue reading

🏦 FINANCIAL SERVICES

Zambia SEC sanctions Standard Chartered Bank for mis-selling Sino-Ocean bonds

Zambia’s Securities and Exchange Commission (SEC) has imposed sanctions on Standard Chartered Bank for mis-selling bonds linked to Sino-Ocean, a Chinese property developer. The bank is accused of failing to disclose essential information about these bonds, which defaulted in 2023, and including contract clauses that improperly transferred risk to the client, in violation of Zambian securities regulations.

The SEC’s investigation revealed that Standard Chartered included contractual clauses that inappropriately shifted liability to the investor, a clear breach of Zambian securities laws. The bonds in question were issued to finance real estate projects in China but became high-risk investments due to a downturn in the Chinese property sector. Standard Chartered’s failure to provide comprehensive risk disclosures resulted in significant financial losses for its Zambian client when the bonds defaulted....…..continue reading

 OTHER STORIES

• Integrity360 acquires South African cyber security firm Nclose as part of global expansion.…….read more

• Mastercard opens new office in Accra, Ghana to strengthen West African presence……read more

• Xiaohongshu gains popularity amid TikTok’s impending shutdown in the U.S.…..read more

OPPORTUNITIES

• The Lagos State Science Research and Innovation Council (LASRIC) calls on bold thinkers and trailblazers to apply for funding and support under its 2024 Innovation Initiative. Deadline = 31st January 2025…..continue reading

• Global payment card network Visa has announced the opening of applications for the fourth edition of its biannual Africa Fintech Accelerator. Deadline = 15th March 2025…….continue reading

• Applications are now open for the Timbuktoo MineTech Accelerator programme, a groundbreaking initiative by the Timbuktoo MineTech Hub aimed at driving innovation in mining technology, empowering startups, and scaling transformative technologies within the African mining sector. Deadline = 13th February 2025…..continue reading

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