Web3 Waves🚀Africa
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Web3 Waves🚀Africa
Web3 Africa Dev Roundup Aug28-1ST Sept more fundings +AI+Training Bootcamp+X Video call +Uber electric Bodas👇
Funding Announcements🚀➦ Airtel plans to raise Shs800bn in IPO
Airtel Uganda, a telecommunications company, has announced plans to go public through an initial public offering (IPO). The company plans to raise UGX 800 billion ($215 million) through the IPO, which would value the company at $1 billion. It will also release eight billion shares, equivalent to 20% of its total stock, onto the Uganda Securities Exchange. The IPO is scheduled to commence on August 30 and conclude on October 13. The IPO is expected to boost investor confidence in the Ugandan telecommunications sector.
Airtel Uganda is the second largest telecommunications company in Uganda, with a market share of approximately 40%. The proceeds from the IPO will be used to fund Airtel Uganda's expansion plans, including the rollout of 5G services. Trading in Airtel Uganda's stock is expected to commence by October 31 2023.
-Innovation
➦Nigeria is Developing a National AI Strategy
The Nigerian government is developing a national artificial intelligence (AI) strategy. The strategy is being developed by the Ministry of Communications, Innovation, and Digital Economy, led by Dr. Bosun Tijani.
The whitepaper outlines the ministry's plan to harness the potential of AI while addressing the complex challenges it poses. The strategy includes;
Ethical and Inclusive AI to ensure that AI is developed and used ethically and inclusively to the benefit of all Nigerians.
It aims to build a strong AI talent pool in Nigeria through education and training programs.
The strategy aims to support research and development in AI to ensure that Nigeria remains at the forefront of AI innovation.
Developing a regulatory and policy framework for AI to ensure it is used safely and responsibly.
Developing the national AI strategy is a significant step forward for Nigeria. It shows that the government is committed to harnessing the potential of AI to benefit all Nigerians.
➦Moroccan Edtech startup Secures Additional funding
Moroccan Edtech startup Smartprof has secured additional funding to accelerate its expansion. The funding round was led by Fuze, a prominent investor in Francophone African startups.Smartprof's platform connects students with tutors across various subjects, including mathematics, science, languages, and more.
The newly acquired funds will be used to expand Smartprof's operations within Morocco and to bolster its team.This investment reflects the increasing interest in Edtech solutions across Africa.
Edtech has the potential to bridge educational gaps and provide high-quality learning experiences to African students.Smartprof's latest funding round is poised to make a substantial impact on Morocco's education sector and contribute to the realization of educational aspirations for students throughout Africa.
➦Moniepoint, the Nigerian microfinance bank has announced more ambitious plans to roll out its new personal banking product.
Moniepoint is looking to replicate the strategies it used to dominate business banking across the country.Making its debut into the personal banking space just a week ago, Moniepoint is looking to replicate the strategies it used to dominate business banking across the country. Those same agents who sold POS to SMEs will now serve as mobile banks for customers as Moniepoint enters the world of personal banking.
Innovation🤝➦Google to introduce digital watermark to detect AI images, launches Duet AI for Workspace
When embedded into images, it will be difficult for humans to see the watermark but an AI detection tool can easily spot it. Multinational tech company Google is developing a virtual watermark tool that will help detect images generated by artificial intelligence. SynthID, the watermark built by Deepmind, a subsidiary of Google, will tell whether an image was created with AI or not. When embedded into images, it will be difficult for humans to see the watermark but an AI detection tool can easily spot it.
DeepMind CEO Demis Hassabis hinted that the tool could become a Chrome extension or it could be embedded into the browser. None of the above is concrete for now.
➥Uber launches “Electric Boda” in Kenya, positioning itself as e-hailing for the future. With Electric Boda, prices for trips are now expected to be further slashed by 15 to 20 per cent.
Uber is now in the electric bike business in Kenya. Today, the e-hailing company announced the launch of Electric Boda, a fleet of electric motorcycles that will be used by riders to convey passengers in the capital city of Nairobi, Reuters reports. Some 3,000 electric bikes will be distributed out to riders in Nairobi in the next six months as part of the project.“We are doing our part to aid the transition to eco-friendly mobility products and to support national sustainability objectives,” Imran Manji, Uber’s head of East Africa said of the launch.
➥X, the social networking platform formerly known as Twitter, is set to redefine the way we connect on the app with the introduction of video calls.
This is another pivotal step in the platform’s evolution into what she termed an “everything app.”
Events and HackathonsThe Africa Women of Web3 Conference happened last week from 25th - 27th August:
The African Women of Web 3 (AWoW3) initiative is a community for African women who are builders, founders, developers, mentors, angels, VCs, and NGOs in the Web 3 space. The AWoW3 initiative aims to create a supportive and collaborative space for women to learn, network, and grow their careers in blockchain and Web 3.
On the Horizons 🌅The Africa Money & DeFi Summit Oct3rd & 4th 2023
It is set to bring together African fintech pioneers, global platforms, and industry visionaries to explore the emerging opportunities in Decentralized Finance (DeFi). The summit will feature a diverse range of keynote speeches, panel discussions, and breakout sessions, providing valuable insights and fostering connections, networking, and business opportunities within the African fintech and DeFi sectors.
Opportunities📩💯Code3Camp September intake Ongoing📚
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Other Articles📚➥AI isn't just a threat; it's a solution. Five ChatGPT plugins that will help you make your business proposals and essays apt and accurate.
Thanks for reading👌
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