Starlink Halts Price Increase for Nigerian Users, Credits Customers

Todayā€™s Menu ā˜•ļø

šŸ›œ Starlink Suspends Price Hike for Nigerian Users, Issues Credit to Affected Customers
šŸ’°Edge Growth secures $2.1 million to boost South African SMEs
šŸ’³ Fintechs Can Now Launch Card Programs in 15 Days with Mastercardā€™s Expanded Product Express

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šŸ›œ INTERNET

Starlink Suspends Price Hike for Nigerian Users, Issues Credit to Affected Customers

Starlink has suspended its previously announced increase in monthly internet subscription fees for Nigerian users. This reversal comes just weeks after the company, owned by Elon Musk, sparked controversy by hiking prices by a staggering 97%, citing ā€œexcessive inflation.ā€

In a message to subscribers, Starlink stated that the price increase would be put on hold while it navigates regulatory challenges. This suggests that the company may have faced pushback from Nigerian authorities regarding the steep price hike and its potential impact on internet accessibility.

This development follows a report by Innovation Village on October 1st, 2024, which detailed Starlinkā€™s initial announcement of the price increase. The report highlighted the concerns raised by many Nigerians regarding the affordability of Starlinkā€™s services, especially in light of the previous price reduction for its hardware kits in October 2023.

Starlinkā€™s decision to suspend the price increase suggests a willingness to engage with regulators and address their concerns.ā€¦ā€¦continue reading

šŸ’° FUNDING

Edge Growth secures $2.1 million to boost South African SMEs

South Africa-based Edge Growth has secured $2.1 million to support growth-stage small and medium enterprises (SMEs) through the ASISA Enterprise and Supplier Development (ESD) Fund. Managed by Edge Growth, the ASISA ESD Fund focuses on investing in SMEs poised to drive significant social and economic impact, a crucial mission amid South Africaā€™s challenging economic climate.

This latest investment adds to Edge Growthā€™s portfolio of impactful companies, allowing it to further bolster resilient businesses. The firm already backs several South African startups, including legal tech firm TSL Legal, electronics subscription service Rentoza, logistics provider DKN Transport, and home services platform SweepSouth.

Each of these companies aligns with the ASISA ESD Fundā€™s objective to foster an inclusive and diverse economy, creating growth pathways for both entrepreneurs and underserved communities.........continue reading

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šŸ’³ PAYMENT CARDS

Fintechs Can Now Launch Card Programs in 15 Days with Mastercardā€™s Expanded Product Express

Mastercard is accelerating the pace of fintech innovation with the global expansion of its Product Express platform. After a successful launch in Latin America earlier this year, Product Express is now available in Africa, the Middle East, Europe, and North America, enabling fintechs to launch new card programs and payment solutions faster and more efficiently.

Product Express is a game-changer for fintechs, providing a streamlined and transparent process for launching card programs in as little as 15 daysā€¦ā€¦.continue reading

OTHER STORIES

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  • Apple prepares for a week of big reveals including new Macs and M4 chipset updatesā€¦..read more

  • TikTok cracks down on policy violations by removing thousands of South African accountsā€¦.read more

  • World Bank aims to provide high-speed internet to 300 million women by 2030ā€¦.read more

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Rowland Osahon
Innovation Village