Netflix to launch new pricing structure April 2. Other stories and one trivia

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

1. Netflix to launch new pricing structure in April

Netflix is set to unveil a revised subscription pricing model for its Nigerian clientele.

The Standard Plan which is expected to commence on April 1, will undergo an adjustment from ₦3,600 to ₦4,000, while the Premium Plan will rise from ₦4,400 to ₦5,000.

The Basic Plan, according to the video streaming platform, will maintain its current rate at ₦2,900, whereas the Mobile Plan will rise from ₦1,200 to ₦1,600.

This latest development followed Netflix’s recent adjustments of pricing across significant global markets, including the United Kingdom, the United States, and France where Basic and Premium Plans observed were increased in October 2023.

These pricing revisions align with Netflix’s overarching strategy to reassess subscription costs across diverse regions to boost earnings while expanding its repertoire of exclusive content.

Although the price adjustments are moderate in scale, the implications for the Nigerian market remain uncertain as the company endeavors to rationalize these modifications by expanding its collection of exclusive content, films, and television series.

Trivia: What is the purpose of an archive bit?

A. It indicates if a file is compressed or not.

B. It prevents a file from being compressed.

C. It indicates if a file has been backed up or not.

D. It labels a file as saved or unsaved.

Find answer below

2. Kenya’s BasiGo secures $3m investment for electric mobility expansion

BasiGo, a Kenyan-based electric mobility startup, has secured KSh396 million ($3 million) in equity funding from CFAO Group, one of the owners of Africa’s automotive distribution network.

This investment, jointly provided by CFAO Kenya and Mobility54, CFAO’s corporate venture capital arm, aims to foster BasiGo’s manufacturing capabilities and facilitate the distribution of electric buses in two East African nations, Kenya and Rwanda.

Founded in 2021, BasiGo started its journey with a pilot programme in Nairobi.

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The startup garnered $6.6 million in equity funding, spearheaded by the Africa-focused VC firm Novastar, in November 2022.

Presently operating 19 electric buses in Nairobi, BasiGo has already received 500 reservations from local bus operators along with an additional 100 reservations from operators in Kigali, Rwanda.

The startup’s ambitious plan involves local assembly and distribution of 1,000 electric buses over the next three years which is expected to generate 300 long-term manufacturing jobs in Kenya.

Jit Bhattacharya, Co-founder and CEO of BasiGo, affirmed that this recent funding aligns with their broader African expansion strategy.

He stressed CFAO’s recognition of the transformative potential of electric mobility in African economies.

BasiGo’s innovative “Pay-As-You-Drive” financing model claims to lower upfront costs for operators, thereby increasing accessibility to electric buses and contributing to the reduction of greenhouse gas emissions.

3. ieDigital to merge with Connect FSS, Abaka

A UK-based fintech firm, ieDigital, is embarking on a consolidation journey by merging its operations with two recently acquired entities, Abaka and Connect FSS.

The company has also appointed its current executive chairman, Rami Cassis, as Chief Executive Officer.

Previously operating as three separate divisions, ieDigital was under the leadership of CEO Jerry Young, who has held the position for over six years.

The fintech’s move towards a unified identity is aimed at providing clients with an advanced suite of digital customer-service channels, as stated in its recent announcement.

As Jerry Young prepares to retire from his position, Rami Cassis, who has been an investor and a member of ieDigital’s senior leadership team since 2012, when his family office, Parabellum Investments, acquired the fintech, will take over as CEO.

Cassis brings a wealth of experience to his new role, having served as chairman at various enterprises, including Razor Risk, Advanco SA, and US-based IT consulting and services firm MajorKey Technologies.

Trivia Answer: It indicates if a file has been backed up or not.

An archive bit is a single bit within a file that indicates whether the file has been backed up or not. A value of 0 indicates the current version of the file has been backed up, while a 1 indicates it has not. Various backup utilities use the archive bit to determine which files to back up and which files to skip.

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