Hormuud Telecom launches 5G Service in Somalia. 2 other stories and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Hormuud Telecom launches 5G Service in Somalia

Hormuud Telecom, a telecommunications firm headquartered in Somalia, has rolled out its highly anticipated 5G network in eight strategic locations in the East African country.

Jama Hassan Khalif, Somalia’s Minister of Telecommunication, confirmed this in a statement seen by Ripples Nigeria on Monday March 25, 2024.

Effective March 2024, Hormuud Telecom will be offering complimentary upgrades to its existing 4G clientele.

Moreover, subscribers residing in Mogadishu, Kismayo, Galkayo, Baidoa, Dhusamareeb, Beledwayne, Afgoye, Merca, and Dhobley will experience expanded 5G coverage, reaching up to 81% in these specified areas.

The freshly introduced 5G service boasts impressive technical specifications, delivering speeds ranging from 10Gbps to 400Gbps per single wavelength, with an overall capacity spanning from 0.96Tbps to 38Tbps.

Hormuud Telecom’s established 4G network already covers roughly 70% of Somalia’s populace, with forthcoming plans to extend coverage to 88% in urban locales and 70% in rural regions.

Trivia: A CDN multiplies content from what kind of server?

A. Default server
B. Origin server
C. Simple server
D. Baseline server

Find answer below

2. Cashee set to debut in Saudi Arabia

A mobile banking application tailored for the younger demographic, Cashee, is on the verge of its debut in the Kingdom of Saudi Arabia (KSA).

Chief Operating Officer at Cashee, Jutla confirmed this in a statement seen by Ripples Nigeria on Monday March 25, 2024.

Established in 2020, the startup characterizes itself as a “banking and financial education platform,” with a primary goal of instilling sound money management practices among youth.

The initiative aims to furnish a complimentary mobile application along with a prepaid Visa card, catering to individuals aged six to 18 years, with substantial support from Arab National Bank (ANB), headquartered in Saudi Arabia, responsible for card issuance.

Presently, the application is accessible through invitation-only channels on the Apple App Store and Google Play Store within Saudi Arabia, with plans for a wider market introduction in the near future.

Speaking on the development, Jutla expressed pride on LinkedIn, stating, “After three years in development, we are delighted to announce our successful entry into the Kingdom. KSA stands out as the most promising market in the region, and our aspiration has always been to contribute to its remarkable evolution.”

3. US Fintech startup, Coast secures $92m funding

Coast, a US-based fintech specializing in financial solutions for fleet-operating businesses, has announced securing a $92 million in funding.

Coast’s CEO, Daniel Simon, confirmed this in a statement seen by Ripples Nigeria on Monday March 25, 2024.

The funding, comprising both equity and debt capital, includes a $25 million equity injection from existing investors such as Accel, Avid Ventures, Better Tomorrow Ventures, BoxGroup, and Insight Partners as well as newcomer Vesey Ventures also participated in this round.

In addition, Coast has secured an additional $67 million in committed debt capital from TriplePoint Capital and Silicon Valley Bank.

Headquartered in New York, Coast facilitates business transactions by offering B2B fuel cards, issued by Celtic Bank.

These cards integrate with onboard computers installed in company vehicles, as well as employees’ smartphones, enabling real-time data monitoring and authorization of fuel transactions.

The influx of capital will fuel Coast’s ongoing product development initiatives, with plans to expand support beyond fuel-related expenses.

Concurrently with the funding announcement, Coast unveiled its partnership with Visa, signaling an expansion of its service offerings.

Trivia Answer: Origin Server

An origin server is the original source of content distributed by a content delivery network (CDN). Examples include webpages, images, CSS files, and streaming media. A CDN retrieves data from the origin server and replicates it on edge servers around the world.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now