🪢 Nigeria's 90,000km fibre-optic expansion

Today’s Menu ☕️

🪢 Nigeria to expand fibre-optic network by 90,000 kilometres with fibre forward initiative
💵 Kenya’s Central Bank grants licenses to seven additional digital credit providers
🦏 Radioactive Device on Rhino Horns Rolled Out to Fight Poaching
📲 Kenya’s Mobile Money Sector Soars After Removal of Airtel-M-Pesa Transfer Barriers
🔍 Google is killing infinite scroll on search results

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🪢 CONNECTIVITY

Nigeria to expand fibre-optic network by 90,000 kilometres with fibre forward initiative

The Nigerian Federal Government has unveiled an ambitious plan to significantly expand the nation’s fibre-optic infrastructure by 90,000 kilometres. The expansion, dubbed the Fibre Forward Strategic Development project, is a $2 billion initiative designed to transform Nigeria’s connectivity landscape.

During the Fibre Forward Strategic Development Workshop, Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, emphasized the transformative potential of the project. “This initiative represents a major stride in our quest to revolutionize Nigeria’s connectivity and establish the country as the holder of Africa’s third-largest terrestrial fibre-optic infrastructure,” he said.

The completion of this project is expected to not only boost Nigeria’s technological infrastructure but also stimulate economic growth, create jobs, and empower the nation technologically. Minister Edun highlighted the government’s commitment to ensuring the project’s success and its anticipated positive impact on the economy and society......……continue reading

🏦 FINANCIAL SERVICES

Kenya’s Central Bank grants licenses to seven additional digital credit providers

The Central Bank of Kenya’s (CBK) recent licensing of seven new Digital Credit Providers (DCPs) is a significant step in the regulation and oversight of the digital lending space in Kenya. With the addition of these seven DCPs, the total number of licensed digital lenders in the country now stands at 58.

The CBK’s rigorous review process, which involves engagement with other regulatory bodies such as the Office of the Data Protection Commissioner, indicates a commitment to ensuring that these financial service providers operate within the bounds of the law, with a strong emphasis on consumer protection and the integrity of the financial system.

The steady increase in the number of applications for DCP licenses, from 480 in March 2024 to 550 by the time of the latest batch of licenses, reflects the growing interest in the digital lending market in Kenya. This growth can be attributed to the high demand for accessible credit solutions facilitated by technological advancements.....……continue reading

Empower Your Child’s Future at the Youth Entrepreneur and Leadership Program (YELA) – Win $1000!

Hello Parents!

Are you looking to unlock your child’s potential and turn their dreams into reality? We are thrilled to invite your son or daughter to the Youth Entrepreneur and Leadership Program(YELA), taking place from August 5th to August 16th, 2024. This transformative program is designed for ambitious young individuals aged 13 to 25 who are eager to learn the essentials of starting a business and developing leadership skills.

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🎶 MEDIA

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YouTube is in the process of negotiating with top record labels to secure licenses for their songs, aiming to use them for training its AI music generation tools. The company is reportedly offering upfront payments to major labels such as Warner, Sony, and Universal to enlist more artists. These artists' songs will serve as training data for YouTube's AI software.

However, many artists are strongly opposed to AI music generation, fearing it could devalue their work. Forcing their stars into such a scheme by any label would be highly controversial......…....continue reading

👨🏽‍💼 PEOPLE

Tragic Loss of Nick Imudia, Former Konga CEO and Current d.light Chief Executive Officer

Nick Imudia, who was serving as the CEO of d.light, a solar energy company, and had previously held the position of Chief Executive Officer at Konga, a leading Nigerian e-commerce firm, has tragically died in what appears to be a suicide.

The incident took place when Imudia reportedly jumped from the balcony of his home situated in the affluent Lekki neighborhood of Lagos State. This devastating event unfolded on the evening of Tuesday, June 25, 2024.......…....continue reading

🪙 CRYPTOCURRENCY

Denmark to Restrict Unregulated Bitcoin Wallets

The Danish Financial Supervisory Authority (DFSA) has announced its intention to ban unregulated Bitcoin wallets in the country.

According to DFSA, this move is triggered by concerns about activities conducted on unsupervised platforms within the crypto sector. The authority emphasizes that all crypto platforms and service providers, including interface providers and mobile app developers, must be regulated to operate legally in Denmark........…....continue reading

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