📱Rowad Capital to invest $225 million in Uganda’s UTel for telecom revitalization

Today’s Menu ☕️
⚕️ mRNA Lung Cancer Vaccine Trials Begin Worldwide
🚙 Bolt Kenya Follows Uber’s Lead, Increases Fares by 10% Amidst Driver Concerns
🤖 South Africa Emerges as a Global Leader in ChatGPT and AI Adoption
📚 Untapped Global invests in Kenyan edtech startup ElimuTab
📱Rowad Capital to invest $225 million in Uganda’s UTel for telecom revitalization

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📱SOCIAL MEDIA

South Africa Emerges as a Global Leader in ChatGPT and AI Adoption

A recent survey conducted by the Boston Consulting Group (BCG) has revealed that South Africa is among the world’s top users of ChatGPT and other AI technologies. This significant finding underscores the country’s growing embrace of artificial intelligence and its potential to drive innovation and economic growth.

The BCG Global Consumer Sentiment Survey aimed to gauge public awareness and attitudes towards generative AI, a rapidly evolving field that has captured the world’s attention. By analysing data from various countries, the survey provided valuable insights into the global adoption and perception of AI technologies.

One of the key findings of the survey was the high level of knowledge and engagement with AI among South African consumers. The country ranked among the top users of ChatGPT, a powerful language model that can generate human-quality text, translate languages, write different kinds of creative content, and answer your questions in an informative way.…....continue reading

🚙 RIDE HAILING

Bolt Kenya Follows Uber’s Lead, Increases Fares by 10% Amidst Driver Concerns

Bolt Kenya, mirroring a recent decision by its main competitor Uber, has announced a 10% fare increase. This move comes in response to growing concerns from drivers demanding better compensation and working conditions.

The fare hike, which is effective immediately, is intended to address the rising cost of living and ensure that drivers are able to earn a sustainable income. Bolt Kenya has emphasised its commitment to supporting its driver-partners, who are essential to the company’s operations.

This decision follows a week-long protest by drivers who expressed their dissatisfaction with the current fare structure. The drivers argued that the existing rates were not sufficient to cover their expenses, including fuel, maintenance, and living costs....…....continue reading

⚕️HEALTHCARE

Revolutionary mRNA Lung Cancer Vaccine Trials Begin Worldwide

In a monumental leap for cancer treatment, doctors have initiated trials for the world’s first mRNA lung cancer vaccine, sparking hope for thousands of patients worldwide. Experts are calling this development “groundbreaking,” with the potential to revolutionize how we fight lung cancer, which claims about 1.8 million lives each year, making it the deadliest cancer globally.

This new vaccine, called BNT116 and developed by BioNTech, is tailored specifically to combat non-small cell lung cancer (NSCLC), the most prevalent form of the disease. Unlike traditional cancer treatments, which often harm healthy cells, this innovative vaccine instructs the body to target and destroy cancer cells while leaving healthy cells unscathed. Even more impressively, it is designed to prevent cancer from returning, potentially offering a long-term solution for patients.

The phase 1 clinical trial marks the first time BNT116 has been tested in humans, with trials being conducted across 34 research sites in seven countries: the UK, US, Germany, Hungary, Poland, Spain, and Turkey. In the UK alone, six sites in England and Wales are involved, and the first patient received the vaccine dose just this past Tuesday.....…....continue reading

📚 EDUTECH

Untapped Global invests in Kenyan edtech startup ElimuTab

Untapped Global, a prominent impact investment firm, has recently made a strategic investment in ElimuTab, an innovative educational technology startup based in Kenya. Founded in 2022 by entrepreneurs Anthony Kahinga and Grace Wairimu, ElimuTab is at the forefront of creating customized educational tablets. These devices are specifically designed to improve the educational experience and outcomes for students in Kenya.

The tablets offered by ElimuTab are equipped with a wide array of educational materials, including e-books that align with the local curriculum, interactive applications, and engaging content designed to facilitate learning. The content is meticulously selected to aid students in exam preparation, reinforce their understanding of key subjects, and introduce them to fundamental coding skills.…....continue reading

📱TELECOMS

Rowad Capital to invest $225 million in Uganda’s UTel for telecom revitalization

Uganda Telecommunications Corporation Limited (UTel), the erstwhile national telecom provider of Uganda, is on the cusp of a significant financial resurgence with the infusion of a substantial $225 million investment from Rowad Capital Commercial (RCC) LLC. This considerable capital injection is the culmination of thorough discussions and negotiations that took place earlier this year with the President of Uganda, Yoweri Museveni.

Previously, UTel encountered severe financial difficulties, which precipitated its descent into a court-ordered administration in November 2022. This unfortunate turn of events necessitated the surrender of all its assets and cessation of business operations.

In a strategic move to secure this much-needed investment, UTel has consented to transfer a majority stake of 60% to Rowad Capital. The investment firm, headquartered in Dubai, is set to channel the initial tranche of $225 million into the telecom sector with the objective of rejuvenating UTel’s operational infrastructure and bolstering its position in the market.......continue reading

OTHER STORIES

• The Kenyan betting industry is experiencing a period of upheaval as 10 betting firms have exited the market since the beginning of 2024…….read more

• Threads, the social media platform, is currently testing a new feature that allows users to set a 24-hour expiration timer on their posts….read more

• iColo Invests in Renewable Energy to Power Kenyan Data Centers…..read more

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