This innovative solution provides a reliable backup internet connection for a leading digital bank in South Africa, ensuring uninterrupted service even in case of terrestrial network disruptions.

The undisclosed bank, among the pioneers of digital banking in South Africa, utilizes Q-KON’s Twoobii Smart Satellite Services.

This service harnesses the power of LEO satellites to deliver consistent internet speeds of 50 Mbps with minimal latency, guaranteeing seamless operations regardless of ground-based infrastructure challenges.

“This implementation marks a significant leap forward in securing reliable connectivity for African financial institutions, particularly those embracing the digital banking revolution,” states Eutelsat Group.

“The low latency and high bandwidth offered by LEO technology empower banks to offer uninterrupted services to their customers, even in remote areas or locations prone to terrestrial network outages.”

This pioneering collaboration between Eutelsat, Q-KON, and the South African digital bank paves the way for broader adoption of LEO-based solutions within the African banking sector.

It showcases the potential of Twoobii Eutelsat OneWeb in enhancing financial services by guaranteeing continuous, secure, and high-speed connectivity across the continent.

This marks a significant development for businesses across the continent, granting them access to high-performance, secure, and low-latency cloud services.

The announcement follows Google’s initial plans revealed at the 2022 Google for Africa event. Cloud regions serve as dedicated geographical locations housing data centers operated by cloud providers.

These regions empower users, primarily businesses, to leverage cloud resources like cloud storage, compute engines, and key management systems.

Google emphasizes the positive impact this new Johannesburg cloud region will have on the African tech ecosystem.

By equipping businesses with the necessary resources, the company aims to facilitate scaling, innovation, and enhanced global competitiveness.

Google also expresses its commitment to collaborating with organizations across Africa to unlock the full potential of digitalization.

With the inclusion of Johannesburg, Google’s global network now encompasses 40 cloud regions, working in tandem to deliver Google Cloud services to over 200 countries and territories.

This expansion builds upon Google’s 2022 announcement regarding Dedicated Cloud Interconnect sites in Lagos, Nairobi, Cape Town, and Johannesburg, aimed at connecting user networks to Google’s infrastructure.

Niral Patel, Google Cloud Africa Director, highlights the Johannesburg region’s integration with Google’s secure network infrastructure, characterized by a global network of high-capacity subsea and underground fiber optic cables.

This network also includes the recently completed Equiano subsea cable connecting Portugal with Togo, Nigeria, Namibia, South Africa, and St. Helena.

This launch signifies a momentous step for Google Cloud in Africa, promising to accelerate digital transformation across the continent.

With access to advanced cloud services and Google’s collaborative approach, businesses are poised for growth and global impact.

This strategic shift comes alongside a $100 million investment pledge in the East African nation and a partnership with Kuwait’s EnerTech to train 500 Rwandans over the next five years.

The announcement, made at the UK-Rwanda Business Forum, coincides with Bboxx’s ambitious goal of reaching 36 million people by 2028, a tenfold increase from its current impact.

Operating in 11 African markets, including Nigeria and Togo, the company already provides clean energy solutions to roughly 3.5 million people.

Bboxx, self-described as a “data-driven super platform,” utilizes an integrated operating system and extensive on-the-ground network to offer households, businesses, and communities affordable access to life-changing solutions.

Founded in 2010, the company has become a major player in Africa’s energy sector, even pioneering the continent’s first solar energy payment subsidy program in Togo back in 2019.

This headquarters relocation positions Bboxx at the heart of Africa’s burgeoning tech scene. Kigali, in particular, has attracted numerous African tech players, including MPost, a digital addressing startup that recently moved its operations to the city’s Norrsken House.

This co-working space, which opened in 2021, has seen established names like InstaDeep and PesaChoice setting up shop, further solidifying Kigali’s reputation as an innovation hub.

“This move to Kigali not only brings us closer to the communities we serve but also cements our commitment to being an Africa-first, data-driven super platform,” stated Mansoor Hamayun, Bboxx CEO and co-founder.

Francis Gatare, CEO of the Rwanda Development Board, welcomed the move, highlighting Rwanda’s deliberate efforts to cultivate a supportive environment for technology and innovation. “Bboxx’s decision is a testament to our commitment to attracting smart, sustainable investments,” he said. “We are confident that their presence will further propel Rwanda’s growth and showcase our nation as a hub for the future.”

This new fund is set to foster innovation, sustainability, accessibility and growth within the African blockchain ecosystem.

The current web3 landscape in Africa

According to the findings presented in the 2023 Chainalysis Report, it has been revealed that several African nations are emerging as key players in the global crypto landscape. This trend is particularly noteworthy considering Africa boasts the world’s youngest internet-savvy population. Driven by this tech-savvy demographic, innovative builders across the continent are harnessing the power of blockchain technology to devise solutions that address local problems and extend their impact globally.

Onboarding the next 1 Billion people into web3 comes with its challenges and these innovative local builders encounter several roadblocks including limited access to funding sources, technical resources, and high-level localized data & insights. The innovative builders in Africa are actively seeking solutions to facilitate a smoother onboarding process into the web3 space.

Supporting the ecosystem

Unlocking the potential of the African crypto landscape requires a collaborative effort to empower the next generation of builders. By addressing funding constraints, providing technical support, and enhancing access to localized data and insights, the global community can contribute to fostering a thriving web3 ecosystem in Africa.

The Core Africa Innovation Fund adopts a long-term, user-friendly, and sustainable approach. The fund will support local projects that place a strong emphasis on delivering tangible value to the local community through Grants, Technical resources, Builder Programs, Partnerships with accelerators and institutions, Connections to VCs and Potential Investment.

This initiative goes beyond funding; it also involves aligning key builders with established blockchain entities including VCs to empower the next generation of decentralized applications and protocols. With strategic partnerships, the fund aims to create a more decentralized and interconnected future for the African blockchain ecosystem.

This approach ensures the promotion of long-term success, playing a pivotal role in driving innovation and growth within the African Web3 landscape.

Calling All Builders:

The Core Foundation is actively seeking to support the best projects within the African Web3 space. The Core Africa Innovation Fund, a driving force in nurturing projects aligned with Core Chain’s long-term vision, is set to unlock the full potential of decentralized projects on the African blockchain.

Some verticals we’ll be looking out for to support builders in but not limited to: Gaming, Stablecoins, Cross border Payments, Supply Chain, Real Estate, Defi Backed Loans, Credit Rating System, Decentralised Database/File storage, Healthcare, NFTs & Defi etc.

Core Chain Commitment
Core Chain is leading the way as an innovative Layer 1, uniquely positioned at the intersection of Bitcoin’s principles and Ethereum’s composability. This fusion makes Core Chain a first-of-its-kind “Bitcoin-aligned” chain.

With a foundation of decentralization, scalability, and security, Core Chain is making Web3 mass adoption a reality.

Source: Core Africa.

The strategic omnichannel partnership will leverage Paymob’s payments infrastructure and Mastercard’s payments technology to scale the adoption of low-cost solutions among micro, small and medium-sized businesses (MSMEs) in key markets.

The agreement includes the acceleration and enablement of Tap on Phone, e-commerce gateway and payment links solutions.

The collaboration’s focus on low-cost solutions will fast-track mass adoption of digital acceptance among smaller businesses while addressing use cases previously not served by existing solutions.

Access to low-cost solutions supports Mastercard’s global goal of digitizing 50 million small businesses by 2025 and advances Paymob’s commitment to enabling MSMEs to thrive in the digital economy.

MSMEs are the engines of economic growth and vital contributors to the GDP in MENA.

Their digital enablement drives prosperity and fuels financial inclusion as the region advances toward a cashless economy.

Islam Shawky, Co-founder and CEO of Paymob, said:

“This strategic partnership with Mastercard delivers on Paymob’s mission to fuel MSMEs via access to cutting-edge financial solutions. Our joint acceleration of low-cost digital acceptance solutions will lead to greater adoption of digital payments across the region. We are dedicated to creating an environment that ensures MENA MSMEs are empowered to compete in a cashless society.”

Gaurang Shah, EVP of Products & Engineering, EEMEA at Mastercard, said:

“At Mastercard, we are committed to developing fit-for-purpose solutions that enable MSMEs to pay and get paid securely. We are delighted to enter a collaboration with Paymob that builds on our complementary strengths to empower small businesses in the region to reap the full benefits of the thriving digital economy and maximize their participation in sustainable development.”

Mastercard leverages its extensive network, state-of-the-art technology and global partnerships to help MSMEs adapt to changing commercial environments and new spending patterns.

The company serves as a trusted provider of innovative and affordable digital payment solutions tailored to the needs of small businesses, ideally positioning them to diversify and expand.

As the leading omnichannel payments infrastructure provider in Egypt, Paymob offers its merchants the most comprehensive acceptance suite in the market, positioning it as a growth partner to MSMEs.

The partnership with Mastercard follows Paymob’s rapid regional expansion, powered by its Series B funding of USD $50 million in 2022. Beyond Egypt, Paymob serves merchants in KSA, UAE, Oman and Pakistan.

About Mastercard www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

About Paymob

Paymob is the leading financial services enabler in the Middle East, North Africa and Pakistan (MENAP), delivering cutting-edge financial technologies to customers in the region. Its omnichannel gateway offers more than 40 payment solutions and empowers over 250,000 merchants with access to innovative financial services.

Founded in 2015, Paymob is the largest payments facilitator in MENAP and employs 1,400 team members across the markets it serves. The company launched operations in Pakistan in 2021 and in the UAE in 2022. Paymob received Saudi Payments PTSP certification in May 2023 enabling it to launch its operation in KSA. In December 2023 Paymob was a granted PSP license in Oman.

The Company is backed by regional and global investors including PayPal Ventures, Kora Capital, Clay Point Capital, Global Ventures, FMO, A15 and Nclude.

This landmark event, launched on January 22nd, 2024, signifies a crucial step towards saving countless children’s lives across Africa, a continent bearing the brunt of the mosquito-borne disease.

Every year, malaria claims the lives of 600,000 people in Africa, according to the World Health Organization (WHO).

Children under five are particularly vulnerable, constituting at least 80% of those fatalities.

However, a glimmer of hope emerges with the RTS,S vaccine, developed after 30 years of research by British drugmaker GSK.

The vaccine, requiring four doses administered alongside routine childhood vaccinations, has demonstrated promising results.

Pilot campaigns in Kenya, Ghana, and Malawi saw a 13% reduction in deaths among eligible children, according to UNICEF. US researchers estimate its efficacy at a minimum of 36%, potentially saving one in three lives.

While not a single solution, the jab acts as a valuable weapon in the anti-malaria arsenal.

Cameroonian doctor Shalom Ndoula, instrumental in the vaccine rollout, expressed optimism to BBC Newsday: “We have the capacity to significantly reduce the number of cases and deaths from malaria and accelerate the elimination of the disease.”

This pivotal moment comes amidst other encouraging developments.

Earlier this month, Cape Verde became the first sub-Saharan African nation in 50 years to be declared malaria-free by the WHO.

In 2021, Africa shouldered 95% of global malaria cases and 96% of related deaths.

This ambitious program promises to ignite a wave of entrepreneurial success, empowering groundbreaking ideas and reshaping Africa’s economic landscape.

“timbuktoo will be a catalyst,” declares Ahunna Eziakonwa, UNDP’s Africa Bureau Director.

“Transforming potential into powerful, pan-African businesses that attract global investment and generate prosperity for millions, all while tackling critical challenges for people and planet.”

Launched at the World Economic Forum in Davos, Switzerland, timbuktoo received a $3 million boost from Rwandan President Paul Kagame, who hosted the fund in Kigali.

Africa holds only 0.2% of global startup value despite its 2% share in global trade.

Foreign venture capital dominates, with 89% flowing in and 83% concentrated in just four countries: Nigeria, Kenya, South Africa, and Egypt. Fintech alone attracts over 60% of this capital.

“An Africa powered by knowledge can rise far above its rich resources,” says Eziakonwa. “This is a true revolution.”

Timbuktoo aims to ignite this revolution by backing startups across eight key African cities:

– Fintech in Lagos
– Trade, logistics, and e-commerce in Cairo
– Healthtech in Kigali
– Cleantech in Nairobi
– Creative sector in Cape Town
– Smart city/mobility in Casablanca
– Edtech and traveltech in Dakar
– Agritech in Ghana

This targeted approach, coupled with a “blended capital” model that blends commercial and catalytic funds, aims to de-risk private investment and nurture a comprehensive startup ecosystem.  

Their new virtual card program empowers both consumers and businesses to embrace the digital future, paving the way for financial inclusion and a thriving online economy.

Consumers can enjoy seamless online purchases, entertainment subscriptions, and more, while startups and small businesses can operate with enhanced flexibility and efficiency.

“This program addresses a crucial need in our country,” remarks Karim Nouri, GM of Illicocash.

“As a pioneer in digital payments, we’re proud to partner with Mastercard to expand financial access for the unbanked and underbanked through this innovative solution.”

For Mastercard, this partnership aligns perfectly with their global mission.

“Building a more inclusive digital economy is our top priority,” emphasizes Jean-Charles Yallet, FSSA Country Lead for MENA West at Mastercard.

“By working with local fintech leaders like illicocash, we can empower millions in the DRC and beyond to embrace the benefits of digital transactions.”

The virtual card program boasts two key advantages: speed and universality.

Cards can be issued quickly and easily, eliminating lengthy application processes. Additionally, they work seamlessly across both domestic and international websites, opening doors to a vast online marketplace.

This harsh reality has been the lifeblood of millions of African farmers, battling the whims of a changing climate with little protection.

But a ray of hope shines through the dust clouds – a $1 billion lifeline called the African Climate Risk Insurance Facility for Adaptation (ACRIFA).

Launched by the African Development Bank (AfDB), ACRIFA is a game-changer, promising financial armor against the punches of droughts, floods, and other climate nightmares.

Over 40 million farmers will finally have access to insurance, a safety net they desperately need.

“We can’t just abandon our farmers when the skies turn treacherous,” declared Akinwumi Adesina, AfDB President.

“ACRIFA isn’t just about handing out checks; it’s about giving them the confidence to face the future, knowing their hard work won’t be swept away by the next storm.”

This $1 billion war chest will come in various forms – loans, high-risk capital, and grants – ensuring different farmers get the support they need.

Beyond protecting livelihoods, ACRIFA is a shot in the arm for food security across the continent and a potential goldmine for the global insurance industry.

Last year, millions in Central and West Africa went hungry during the lean season, with their harvests ravaged by weather extremes.

ACRIFA aims to rewrite this script, turning vulnerable farmers into weather warriors, armed with the financial tools to bounce back from disaster.

“ACRIFA is like a bridge,” explains Beth Dunford, AfDB’s Agriculture and Human Development chief.

“It connects farmers to resources, builds partnerships, and ensures even the most remote communities have access to this vital safety net.”

ACRIFA isn’t just about mitigating risks; it’s about planting the seeds of hope for a future where African farmers thrive, rain or shine.

This ambitious initiative is a beacon of progress, not just for agriculture but for the entire continent’s resilience in the face of a changing climate.