By Lumi Mustapha, Head of Legal; and Thando Sibanda is Deputy Head of Legal at Founders Factory Africa. The African tech ecosystem is growing rapidly, and there is increasing demand for capital from startups. In recent years, SAFEs, or Simple Agreements for Future Equity, have become an increasingly popular way for African startups to raise capital. SAFEs offer several advantages over traditional venture capital financing, making them an attractive option for startups and investors alike. Below, we will discuss what SAFEs are, why they are becoming popular across the African ecosystem, and what the future holds for SAFEs in the…
Author: Brand Spot
Brand Spot
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By Christopher Saul, Territory Sales Lead for East Africa at Red Hat Earlier this year, Kenya Electricity Generating Company PLC (KenGen) and the Konza Technopolis Development Authority (KoTDA) broke ground on the Ecocloud Data Centre, touted as Africa’s first data centre fully powered by geothermal energy. It’s an exciting development: as Kenya embraces clean energy – 92% of the country’s generating capacity comes from renewable sources – essential IT infrastructure is becoming more sustainable. In Kenya, multiple legal frameworks and policy initiatives are driving environmental, social, and governance (ESG) market trends, and investors are beginning to factor ESG and future…
Nadeem Anjarwalla , Director for Binance East and West Africa As long as new technology is introduced into the world, fraudsters will continue to search for a place to thrive. Unfortunately, Bitcoin gives cryptocurrency scammers an interesting opportunity as it’s a borderless digital currency. Bitcoin’s decentralized nature allows you to be in full control of your investments. However, it also makes it harder to delineate a proper regulatory and law enforcement framework. If scammers manage to trick you into making mistakes while using Bitcoin, they may end up stealing your BTC, and there is virtually nothing you can do to recover your crypto.…
Uwe Kemmer, Director, EMEA Field Engineering at Western Digital Since the first professional football match in 1863, the popular game has been based on grit, determination, and passion. In recent years, technology has brought significant changes to the game and impacts almost every corner of the footballing world – from on-the-field decision-making to club development, player identification and growth. In line with these technological advancements, the reliance on data is only increasing. Let’s take a closer look at how data affects each phase of a football season. At the start of each season, football clubs aim to enhance short-term performance…
EDOMx, a Delaware entity with Kenyan operations with a vision to enhance impact-based and thoughtful consumer credit, announced signing an agreement with Singapore-headquartered B2B SaaS FinTech, finbotsAI, to enable credit risk management using AI. Renowned for its Mobile Money Buy Now Pay Later (BNPL) service FARAJA, which is offered to M-PESA customers and businesses in partnership with Safaricom, EDOMx becomes a pioneering adopter of cutting-edge AI-based credit risk solutions, a key pillar of its business. With creditX, finbotsAI’s AI-powered credit modelling solution, EDOMx aims to utilize advanced machine learning and AI-based algorithms to develop high accuracy scorecards that are better…
Trading is becoming increasingly popular in Kenya, and for good reason. With recent developments in the Nairobi Securities Exchange (NSE) indicating the return of foreign investors, a net foreign equity inflow worth KSh130 million ($874,000) was registered for the first time since February 2022. Furthermore, the director of Capital Markets Authority (CMA) reiterated the attractiveness of the Nairobi bourse for foreign and local investors due to the undervalued stocks present at the exchange. These positive developments mean endless potential for all those willing to make an income by joining the Kenyan economic landscape. That said, trading is a highly competitive and…
LG Electronics has rolled out its latest Lifestyle Screen, the unique LG StanbyME Go (model 27LX5) that allows users to enjoy memorable entertainment experiences wherever they go. The innovative new model boasts a 27-inch touch display and a 20W four-channel speaker system cleverly integrated into a stylish and sturdy carrying case. Perfect for watching movies, playing games and more, the StanbyME Go can be used indoors or out; its carrying case and built-in battery enable take-anywhere convenience, superior screen protection and up to 3 hours of use without connection to an external power outlet. In addition to the new Lifestyle Screen’s…
According to the latest global Kaspersky spam and phishing report, pages impersonating delivery services in 2022 had the highest percentage of clicks on phishing links (27.38%). Online stores (15.56%) placed second, while payment systems and banks ranked third and fourth, respectively. Cybercriminals exploit the hard-earned reputation of established brands, using their names to engage in criminal activities. By creating websites that mimic authentic brands or online services, they deceive users with accurate and detailed content to phish for login credentials, personal and professional identities, sensitive company, or financial information. This not only leads to data and monetary losses but also…
The world’s leading blockchain ecosystem and infrastructure provider, Binance, has partnered with Miti Alliance, a social enterprise in Kenya, to collaborate with young students in planting trees for their community. This partnership underscores the vital importance of combining crypto innovation with tree-planting efforts for a sustainable future. The community event last week included 92 Binancians, over 120 students, and Binance’s East and West Africa Director, Nadeem Anjarwalla. Each student was allocated three trees, which they were responsible for watering and caring for. The Miti Alliance team will conduct regular visits to the locations to ensure the trees’ health, including replanting…
If you still think that fiat is a make of car and a ramp is something that makes it easier to wheel your trolley, you probably haven’t yet begun trading cryptocurrency. And that’s probably because there’s a lot you don’t know about it and Binance is here to make you see that it’s all a lot easier than you think. One of the reasons that many people are put off dealing in cryptocurrency is the fact that they can’t see or touch it. Not that we can be blamed – if it took time to muster up the trust to…