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IBM launches LinuxONE for SME market. 2 other stories and a trivia

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

1. IBM launches LinuxONE for SME market

IBM has introduced the LinuxONE 4 Express, a new pre-configured model of its enterprise computing system designed for small and medium-sized enterprises (SMEs).

The General Manager and Technology Leader at IBM South Africa,

Ria Pinto, confirmed this in a statement seen by Ripples Nigeria on Wednesday February 21, 2024.

The product, according to IBM, offers enterprise-class security, resilience, and artificial intelligence (AI) capabilities, making it an ideal choice for smaller organizations looking to develop an integrated hybrid cloud technology strategy.

Speaking on the development, Ria Pinto noted the importance of digitization for startups and SMEs in driving agile, efficient, and innovative practices amid economic challenges.

Powered by IBM’s Telum processor, the LinuxONE 4 Express boasts availability exceeding “eight nines,” making it suitable for workloads requiring resilient infrastructures to meet regulatory standards.

Trivia: When a device doesn’t respond to input, it is said to be what?

A. Blank
B. Stalled
C. Frozen
D. Square

Find answer below

2. Egypt’s Sawari Ventures launches $150m Startup fund

Egypt-based venture capital firm, Sawari Ventures, is set to unveil a $150 million fund aimed at supporting Egyptian startups.

The CEO and co-founder, Hani Al Sanbati, confirmed the development in a statement seen by Ripples Nigeria on Wednesday, February 21, 2024.

Established in 2010 by Ahmed Alfi, Hany Al Sonbaty, and Wael Amin, Sawari Ventures focuses on the Mena region, having provided backing to over 30 companies such as Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.

Al Sanbati outlined that the fund will prioritize sustainable growth in Egypt across sectors like fintech, edtech, healthtech, cleantech, and deeptech.

He emphasized the company’s aspirations for Egypt to become a key investment center in Africa and the wider region, highlighting Sawari’s investment in around 500 startups since its inception in the Arab world.

3. Singapore’s Xalts to acquire Contour Network

Singapore-based startup, Xalts, is poised to acquire Contour Network, aiming to drive the integration of digital technologies into trade and supply chain finance.

Ashutosh Goel, CEO of Xalts, confirmed this in a statement seen by Ripples Nigeria on Wednesday February 21, 2024.

Founded in 2017, Contour has operated a decentralized global trade finance network, connecting businesses, partners, and financiers across supply chains, initially focusing on digitizing letters of credit.

Reports gathered by Ripples Nigeria reveals that despite backing from banks such as ANZ, BNP Paribas, HSBC, and Standard Chartered, Contour announced in October 2023 its decision to wind down operations due to insufficient funding, processing only 60 to 70 transactions monthly.

Xalts plans to leverage this acquisition to expedite the digitization of trade and supply chain finance, focusing initially on embedded solutions to enable banks, logistics companies, and technology firms to offer integrated solutions using a unified platform.

Trivia Answer: Frozen

While “frozen” describes the state of Minnesota from November to March, it also refers to an unresponsive computer. When a computer does not respond to any user input, it is said to be frozen.

When a computer system freezes, or “locks up,” the screen stays the same and does not change no matter what buttons you press on your mouse or keyboard. You can tell if you computer has frozen if the cursor will not move when you move the mouse.

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