📱Nigerian Banks Face USSD Disconnection Over Debt

Today’s Menu ☕️

📱Nigerian Banks to Face USSD Code Disconnection in Two Weeks Over Unpaid Debt
💰 Purple Elephant Ventures secures $4.5 million in funding to transform African tourism technology
🧑🏽‍💻 Techstars launches accelerator program in Botswana to boost regional startups
🤖 OpenAI’s Tasks: Redefining Scheduling and Digital Assistance with ChatGPT
🌆 Dubai launches Content Creator Hub

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📱 TELECOMS

Nigerian Banks to Face USSD Code Disconnection in Two Weeks Over Unpaid Debt

The Nigerian Communications Commission (NCC) has approved the disconnection of USSD services for nine banks over unpaid debts owed to mobile network operators (MNOs). This move could disrupt millions of Nigerians’ access to quick banking services, and it all boils down to years of unresolved disputes between the telcos and banks..

The NCC announced that nine commercial banks, including Zenith Bank, UBA, and Polaris Bank, risk losing access to their USSD platforms. The telecom operators—MTN, Airtel, Globacom, and 9mobile—claim the banks owe them for USSD services, debts that reportedly date back as far as 2020. The total outstanding debt? A staggering ₦120 billion as of 2023..….…continue reading

💰FUNDING

Purple Elephant Ventures secures $4.5 million in funding to transform African tourism technology

Purple Elephant Ventures (PEV), a Nairobi-based venture studio, has successfully raised $4.5 million in seed financing, marking one of the largest tourism-tech funding rounds in African history. This significant investment will propel PEV’s mission to transform the continent’s tourism industry into a global leader in regenerative tourism. By developing cutting-edge travel technology in Africa, PEV aims to create a resilient, inclusive, and environmentally sustainable tourism sector.

The funding round attracted a distinguished group of investors, including Clear Creek Investment B.V, Klister Corp., Fede Pirzo-Biroli (founder of Playfair Capital), Anthony Rock, and Ian McCaig (former CEO of Lastminute.com).

Emerging from the pandemic with a bold vision, PEV is dedicated to fostering tourism innovation that enhances biodiversity, creates sustainable livelihoods for local communities, and reduces the ecological footprint of travel...….…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

🧑🏽‍💻 STARTUPS

Techstars launches accelerator program in Botswana to boost regional startups

Techstars has unveiled a new accelerator program in Botswana, designed to support and scale startups within the region. This newly established Botswana accelerator will provide startups with essential resources, including mentorship, funding, and access to Techstars’ extensive international network.

The presence of Techstars in Botswana is anticipated to drive economic growth, foster innovation, and promote cross-border collaboration within the Southern African region. This expansion into Botswana is part of Techstars’ broader strategy to identify and invest in markets with untapped potential. Despite Africa’s rapidly growing economies, many startups face significant challenges such as limited funding and restricted access to global networks.

Techstars’ journey in Africa has experienced both successes and challenges. In 2022, Techstars launched the ARM Labs Lagos Techstars Accelerator in Nigeria, focusing on fintech and proptech startups. The program admitted 12 African startups from Nigeria and Kenya for its inaugural cohort. Despite its initial success, the Lagos accelerator was discontinued in November 2024 after two years of operation....…..continue reading

🤖 ARTIFICIAL INTELLIGENCE

OpenAI’s Tasks: Redefining Scheduling and Digital Assistance with ChatGPT

OpenAI has unveiled a new beta feature for ChatGPT called Tasks, signaling its ambitious entry into the competitive virtual assistant market, traditionally dominated by Apple’s Siri and Amazon’s Alexa. This feature marks a significant step in transforming ChatGPT from a real-time conversational tool into a proactive digital assistant capable of scheduling and managing future actions.

With Tasks, ChatGPT subscribers on Plus, Team, and Pro plans can request scheduled activities ranging from simple reminders, like alerting users about concert ticket sales, to recurring updates, such as daily weather reports or weekly news briefings....…..continue reading

🤖 ARTIFICIAL INTELLIGENCE

Adebayo Ogunlesi joins OpenAI board amid company’s transition to for-profit structure

On Tuesday, OpenAI announced that Adebayo Ogunlesi, a senior managing director at BlackRock, is joining its board of directors. This move is part of the company’s ongoing transition towards a for-profit structure. Ogunlesi is a founding partner of Global Infrastructure Partners (GIP), an infrastructure investment firm acquired by BlackRock last year for $12 billion. Prior to co-founding GIP in 2006, Ogunlesi spent 23 years at Credit Suisse.

Ogunlesi’s addition to the board signifies another step in OpenAI’s significant transformation into a for-profit entity. The board has undergone substantial changes since late 2023, when CEO Sam Altman was unexpectedly ousted and then quickly reinstated......…..continue reading

 OTHER STORIES

• Dubai, a city renowned for its innovative and futuristic outlook, has launched a large-scale initiative - the Dubai Content Creator Hub - to draw in international digital talent.…….read more

• The Grameen Crédit Agricole Foundation, Beyond Finance, and FosterImpact have collaboratively launched the Women Empowerment for Climate fund, with the ambitious goal of raising US$100 million……read more

• Vodacom and Orange partner to expand mobile services in remote areas of the DRC…..read more

• CBN fines nine banks ₦150 million each for ATM cash shortages…..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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