TechNigeria: A weekly digest of what went down in Nigeria’s tech space

Opay, Africarare, YouLend, Interswitch, PayPal, Roboost, GSMA, Tesla, Paymob, Fund Park, Mastercard, OfferZen, are some of the names that made the headlines this week.

Nigerian edtech startup, AltSchool Africa, has extended its reach to Kenya, marking the second-largest market in revenue.

Also, Tesla is facing legal action from 25 California counties, accusing the automaker of persistent mishandling of hazardous waste at various facilities across the state.

Let’s get into details

Africarare, a virtual reality and NFT hub based in Johannesburg, South Africa, is set to introduce its virtual token, $UBUNTU, in February.

The new token is expected to serve as the primary medium for transactions within the metaverse’s virtual marketplace.

The South African startup confirmed this in a statement seen by Ripples Nigeria on Thursday, February 1st, 2024.

Digital financial services platform, Opay, has announced enhancing its security feature to ensure the robust protection of users’ funds.

Confirming the development in an official statement seen by Ripples Nigeria on Tuesday, January 30th, 2024, Opay’s Managing Director, Mr. Dauda Gotring, revealed that the new security feature comes as a short code.

According to Gotring, the newly implemented feature is a customised short code that allows users to promptly lock their accounts in case of a misplaced or stolen phone or card.

UK-based startup, YouLend, has announced closing a private capital agreement with JP Morgan.

The deal is expected to pave way for the global embedded financing platform to offer an additional £4 billion in revenue-based financing to small and medium-sized enterprises (SMEs).

YouLend’s CFO, Anders Thorpe Christoffersen, confirmed this agreement in a statement seen by Ripples Nigeria on Wednesday January 31, 2024.

Tesla is facing legal action from 25 California counties, accusing the automaker of persistent mishandling of hazardous waste at various facilities across the state.

The complaint, lodged in San Joaquin County Superior Court, contends that Tesla incorrectly labeled and disposed of materials, including “lead acid batteries and other batteries,” paints, brake fluid, aerosols, antifreeze, acetone, diesel fuel, and more at its production and service sites statewide.

The allegations extend to improper waste disposal, both on-site and at landfills incapable of accepting hazardous materials

Despite acclaimed surge in growth throughout 2023, PayPal is on the verge of reducing its workforce by nine percent, affecting approximately 2,500 employees.

The CEO, Alex Chriss, confirmed this in a statement seen by Ripples Nigeria on Wednesday January 31st, 2024

The announcement follows a recent job cut of over 2,000 positions the previous year, that was hinged on cost management.

A logistics startup based in Egypt, Roboost, has closed a $3 million investment round led by Silicon Badia, with notable contributions from RZM Investment, Flat6Labs, and Saudi Arabian angel investors.

The CEO and Co-Founder, Mohamed Gessraha, confirmed this in a statement seen by Ripples Nigeria on Wednesday January 31st, 2024.

Established in 2018 by Mohamed Gessraha, Hassan Gessraha, and Mohamed Ali Sadek, Roboost claims to specialize in AI-powered delivery solutions, operating in Egypt, Saudi Arabia, Kuwait, Morocco, and Tunisia.

The South African developer hiring marketplace, OfferZen, has secured a EUR4 million (US$4.3 million) funding round, with prominent investors Invenfin and AI Capital contributing to the financial boost.

The Co-founder, Philip Joubert, stated this in a statement seen by Ripples Nigeria on Tuesday, January 30, 2024.

Founded in 2015 and officially launched in 2016, OfferZen focuses on enhancing company efficiency by streamlining the hiring process.

In a move to enhance digital payment acceptance in the Middle East, North Africa, and Pakistan (MENA-P), financial services facilitator, Paymob, has entered into a partnership with Mastercard.

The Co-founder and CEO, Islam Shawky, confirmed the alliance in a statement seen by Ripples Nigeria on Tuesday, January 30th, 2024.

The collaboration, according to the CEO, aims at expediting the implementation of Tap on Phone, e-commerce gateway, and payment link solutions.

The GSM Association (GSMA) has entered into what it describes as a strategic collaboration with IBM to expedite the integration of artificial intelligence (AI) and enhance AI-related skills within the telecommunications sector.

The Chief Technology Officer, GSMA, Alex Sinclair, confirmed this in a statement seen by Ripples Nigeria on Thursday February 1st, 2024.

As part of this initiative, GSMA is introducing an AI training program through GSMA Advance, its educational arm.

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