This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Liquid Dataport to drive digital transformation
With a vision to drive digital transformation, a subsidiary of pan-African technology group Liquid Intelligent Technologies, Liquid Dataport, has entered into a strategic partnership with VIPNET, a privately-owned corporate Internet Service Provider (ISP) based in Côte d’Ivoire.
This collaboration enables Liquid Dataport to harness VIPNET’s robust infrastructure, extending access for ISPs and Enterprise customers to Liquid’s comprehensive suite of services.
According to the team, the development includes leveraging its expansive pan-African network and cutting-edge cloud and cybersecurity solutions.
The development also marks a pivotal move for Liquid Dataport in fortifying its network and service capabilities across West Africa, a critical growth market.
With internet penetration in Côte d’Ivoire currently standing at 45.4%, Liquid Dataport aims to offer cost-effective, reliable, and secure connectivity solutions through this partnership, addressing a crucial need for improved internet access in the country.
David Eurin, CEO of Liquid Dataport, emphasizes the significance of Côte d’Ivoire as a vital ICT hub in Francophone West Africa, citing the country’s stability, substantial economic growth, and rising demand for connectivity services.
Ahmed CHERIF, CEO of VIPNET, sees the partnership as a means to elevate the company to a technological hub of excellence within the West African sub-region.
By gaining access to Liquid’s extensive global network, VIPNET aims to offer higher bandwidth and a diverse range of ICT products and services to its customers, fostering digital maturity.
Trivia: Which type of RAID array creates a mirrored volume?
A. RAID 0
B. RAID 1
C. RAID 2
D. RAID 3
Find answer below
2. Ed Partners Africa closes $10m DFC loan to facilitate expansion
Ed Partners Africa, a Kenyan non-banking financial institution that provides loans to affordable private schools, has unveiled a commitment of a $10 million loan guarantee facility from the United States’ Development Finance Corporation (DFC) to facilitate the expansion of access to affordable education.
Established in 2018 by Lydia Koros and David FitzHerbert, and presently under the leadership of CEO Amos Mwangi, Ed Partners offers financing options for critical components of the education system, encompassing infrastructure, technology, and transportation.
With an impact extending to over 100,000 students across 350 schools, the startup provides infrastructural loans to educational institutions, supporting the construction of new classrooms, washrooms, laboratories, and dormitories.
After securing a $1.9 million funding round in June 2021 and a $1.5 million debt funding from Oiko Credit in August, Ed Partners has now solidified its position by securing a $10 million loan guarantee from DFC.
The corporation emphasizes that this move aligns with its commitment to enhancing access to quality education, particularly for underserved populations.
Once disbursed, the loan is poised to facilitate the expansion of accessible, high-quality education opportunities in Kenya, providing crucial financial support to these schools.
James Polan, vice president of DFC’s Office of Development Credit, stated, “This is an important transaction that will provide vital financing to support increased access to affordable, quality education, especially among underserved populations in Kenya.
The investment reflects DFC’s commitment to improving access to education in Kenya and supporting sustainable development in the region.”
Expressing enthusiasm about the partnership, Janet Waweru, CFO of Ed Partners Africa, remarked, “This funding will enable us to reach more schools and students to improve learning outcomes and make quality education more accessible, ultimately contributing to the long-term development and prosperity of the region.”
3. Richard Teng assumes Binance CEO role following Changpeng Zhao’s resignation
Changpeng Zhao, known as “CZ,” has unveiled Richard Teng, the former Global Head of Regional Markets, as Binance’s new CEO, as stated in his resignation letter posted on his page on “X.”
Before joining Binance, Richard served as CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), Chief Regulatory Officer of the Singapore Exchange (SGX), and Director of Corporate Finance at the Monetary Authority of Singapore.
CZ stepped down from the CEO position due to a $4 billion settlement between the Department of Justice and Binance.
In his resignation letter, CZ expressed emotional difficulty but emphasized that stepping down was the right decision for the community and Binance’s growth.
He announced Richard Teng’s appointment, highlighting Teng’s three decades of financial and regulatory expertise.
Richard Teng, responding on his “X” page, expressed honor and humility in becoming Binance’s new CEO.
He acknowledged the trust from users and employees, pledging to focus on financial strength, security, regulatory collaboration, and growth in the Web3 space.
CZ, as a former CEO and shareholder, will remain available for consultation.
Richard Teng expressed excitement for the future, emphasizing Binance’s commitment to innovation and user protection.
Trivia Answer: RAID 1
A mirrored volume is a volume on a storage drive that contains an exact copy of the data on another drive.
The most common reason to use a mirrored volume is to provide fault tolerance in case of hardware failure, allowing the mirror to serve as a backup.
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