Weekly Updates🌍👇
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Weekly Updates🌍👇
Week Ending 15th September;nore funding, innovation,mpesa digital cards, lightning network,Nigeria attracts the most funding in fintech and more⭐
Funding Announcements🚀➥ Itana Raises $2M Pre-Seed Funding to Create Africa's First Digital Free Zone
Itana, a Nigerian startup building Africa's first Digital Free Zone, has raised $2 million in pre-seed funding. The round was led by LocalGlobe, with participation from Amplo, Pronomos Capital, and Future Africa.
Itana's Digital Free Zone will be a fully online jurisdiction offering global businesses a simplified and compliant way to operate in Africa. The zone will provide businesses with access to a range of benefits, including:
A stable and predictable regulatory environment
A competitive tax regime
A skilled workforce
A robust infrastructure
A supportive ecosystem of partners and service providers
Itana's co-founders, Luqman Edu and Coco Liu, said that the funding will be used to develop the Digital Free Zone and to bring it to market. They said that they are excited to create a platform that will help to attract global businesses to Africa and contribute to the continent's economic development.
Itana's Digital Free Zone is a significant development for the African tech ecosystem. It will provide businesses with a much-needed platform to operate in Africa and to take advantage of the continent's growing market opportunities. The zone is also expected to create jobs and boost economic growth in Africa.
➥Interswitch Launches Google Pay Support on its Payment Gateway in Nigeria
Interswitch, a leading integrated payments and digital commerce company in Nigeria, has announced the integration of Google Pay into its Interswitch Payment Gateway (IPG) platform. This will allow businesses and individuals in Nigeria to make contactless payments using their Android phones or Wear OS devices.
Google Pay is a digital wallet that allows users to store their credit and debit card information. To make a payment, users simply need to tap their phone on a contactless reader. Millions of merchants around the world accept Google Pay.
The integration of Google Pay into the IPG platform will make it easier for businesses in Nigeria to accept contactless payments. It will also allow users to make payments online and in-store more quickly and securely.
Integrating Google Pay is part of Interswitch's commitment to providing its customers with the latest payment technologies. The company is also working on integrating other popular payment methods into its platform, such as Apple Pay and Samsung Pay. This will make payments more accessible and convenient and help boost the adoption of contactless payments in the country.
➥Bitget Announces Additional $100M Fund to Support Crypto Ecosystem
Bitget, a leading crypto derivatives exchange, has announced an additional $100 million fund to support the development of the crypto ecosystem. The fund, called Bitget EmpowerX, will invest in regional exchanges, analytics firms, media organisations, and other entities that can contribute to the crypto industry's growth.
The announcement follows the launch of a $100 million fund by Bitget back in April, which was focused on investing in crypto projects in Asia. The new fund will be open to projects from all over the world.
Bitget CEO Sandra Lu said that the company is committed to supporting the growth of the crypto ecosystem. A team of experienced professionals will manage the Bitget EmpowerX fund with a proven track record of success in the crypto industry. The Bitget EmpowerX fund is a significant commitment by Bitget to the future of the crypto industry. The fund will help support the sector's growth and help it reach its full potential.
Innovation Corner🤝➥Kenya to Introduce Digital ID Cards
The Kenyan government is set to introduce digital identification cards to its citizens. The initiative, known as the Unique Personal Identifier (UPI), will be christened the "Maisha Number" and serve as a lifelong and exclusive identification number assigned to individuals right from birth.
The UPI will be a secure and reliable way for Kenyans to verify their identity for various purposes, including accessing government services, opening bank accounts, and travelling. It will also help to reduce fraud and corruption and improve efficiency.
The government has allocated a budget of Sh1 billion to implement the UPI system. The Permanent Secretary of Immigration, Julius Bitok, said the government is committed to providing Kenyans ample time to adjust to the new digital IDs.
The UPI system is a significant step forward for Kenya. It will help improve government services' efficiency, reduce fraud and corruption, and make it easier for Kenyans to participate in the economy.
The UPI system is a significant investment in the future of Kenya. It will help to create a more secure and prosperous country for all Kenyans.
➥Coinbase to Integrate Lightning Network to Make Bitcoin Transactions Faster and Cheaper.
Coinbase, the largest cryptocurrency exchange in the United States, has confirmed that it will integrate the Lightning Network. This layer-2 payment protocol can help to make Bitcoin transactions faster and cheaper.
The Lightning Network is a network of nodes that facilitate instant and low-cost Bitcoin payments between users. It works by opening payment channels between users, which allow them to send and receive Bitcoin payments without having to go through the Bitcoin blockchain.
Integrating the Lightning Network on Coinbase will allow users to make Bitcoin payments with significantly lower fees and faster transaction speeds. This is a significant step forward for adopting Bitcoin, making the cryptocurrency more accessible to a broader range of users.
Coinbase CEO Brian Armstrong said that the integration of the Lightning Network is a "significant milestone" for the company. He said the Lightning Network will "make Bitcoin more accessible and useful for everyday payments."
The integration of the Lightning Network on Coinbase is expected to be completed in the coming months. Once it is completed, users can make Bitcoin payments using the Lightning Network directly from their Coinbase accounts.
➥Nigeria Surpasses South Africa as Most Populous Fintech Space in Africa
Nigeria has overtaken South Africa to become the most populous fintech space on the continent, according to a report by Disrupt Africa. The "Fintech in Africa 2023" report found that Nigeria is home to over 2,000 fintech startups, compared to South Africa's 1,500.
The report also found that Nigeria has attracted more funding than South Africa in recent years. In 2022, Nigerian fintech startups raised over $1 billion in funding, compared to South Africa's $600 million.
The growth of Nigeria's fintech sector is being driven by several factors, including:
A large and growing population of young people who are comfortable with digital payments
A growing middle class with disposable income
A supportive government that is encouraging the development of the fintech sector
The report predicts that Nigeria's fintech sector will continue to grow in the coming years and become a significant player in the global fintech market.
Samara Asset Group p.l.c. Donates BTC to Bitcoin DADA
Samara Asset Group p.l.c., a leading investment firm in Europe, has donated USD 10,000 in Bitcoin (BTC) to Bitcoin DADA. This non-profit organisation is working to empower women in Africa through Bitcoin education and training.
The donation was made in recognition of Bitcoin DADA's work to promote financial inclusion and gender equality in Africa. Bitcoin DADA's programs have helped to educate and train thousands of women in Africa about Bitcoin and how to use it to improve their financial lives.
Samara Asset Group p.l.c.'s CEO, Peter Samara, said that the company is committed to supporting organisations that are working to make a positive impact on the world. "We believe that Bitcoin DADA is doing important work to empower women in Africa," he said. "We are proud to support their mission and to help them reach even more women in Africa."
Bitcoin DADA's founder, Lorraine Marcel Atieno, said that the donation from Samara Asset Group p.l.c. is a "transformational gift" to help the organisation continue its work. "This donation will allow us to reach more women in Africa and to provide them with the education and training they need to use Bitcoin to improve their lives," she said.
➥Sportsbet.io has entered into a strategic partnership with BitLipa
Sportsbet.io, a leading crypto betting platform, and BitLipa, the leading mobile money to crypto on-ramp solution, have partnered to make crypto betting more convenient and accessible for users in Kenya.
The partnership will allow Sportsbet.io users to deposit funds from their M-PESA wallets into their USDC and USDT wallets on Sportsbet.io. This will make it easier and faster for users to start betting with cryptocurrencies.
BitLipa is a well-established and trusted company with a proven record of providing secure and reliable crypto services. This partnership further solidifies Sportsbet.io's commitment to providing its users with the best possible experience.
The partnership between Sportsbet.io and BitLipa offers several benefits for users, including:Convenient and secure way to deposit funds, Fast and easy transactions, Wider range of betting options, Increased liquidity and Enhanced user experience.
Sportsbet.io is a leading crypto-betting platform that offers a wide range of betting options, including sports, esports, and casino games. The platform is known for its secure and reliable services, as well as its generous bonuses and promotions.
The partnership between Sportsbet.io and BitLipa is a significant step forward for adopting crypto betting in Kenya. The partnership makes it easier and faster for users to start betting with cryptocurrencies and offers a broader range of betting options. This is a positive development for the crypto betting industry, likely leading to increased adoption of cryptocurrencies in Kenya.
Events and Hackathons🌍➥Africa Bitcoin Mining Summit 2023
The Africa Bitcoin Mining Summit is a gathering of Bitcoin miners from across the continent to connect, share knowledge, and discuss the future of Bitcoin mining in Africa. The summit will be held in Nairobi, Kenya, on September 13-14, 2023.
The summit will feature various speakers, including Bitcoin miners, investors, and experts. The speakers will discuss the economics of Bitcoin mining, the latest mining technology, and the regulatory environment for Bitcoin mining in Africa. It will also feature a networking reception and a tour of a Bitcoin mining facility.
The Africa Bitcoin Mining Summit is an excellent opportunity for Bitcoin miners in Africa to connect, learn, and network. The summit will help to foster the growth of the Bitcoin mining industry in Africa and promote the adoption of Bitcoin on the continent.
DeFi hedge fund trading bootcamp will be held in Nairobi, Kenya, and will teach participants how to trade DeFi assets. The bootcamp will cover topics such as:
The basics of DeFi
How to trade cryptocurrencies and other digital assets
The different types of DeFi protocols
How to manage risk in DeFi trading
How to use DeFi to create passive income
The bootcamp will be led by experienced DeFi traders and investors. Participants will learn from the experts and network with other DeFi enthusiasts.
The DeFi hedge fund trading bootcamp is an excellent opportunity for anyone who wants to learn more about DeFi and how to trade DeFi assets. The bootcamp is open to all levels of experience, from beginners to experienced traders.
The most excellent Ethereum event in Africa is back!
ETHSafari is a unique opportunity for the Ethereum community to learn, hack, discuss, and celebrate our decentralized future. The event will take place in Kenya, bringing together people worldwide to explore the latest developments in blockchain technology.
The ETHSafari 2023 event will include a bootcamp in Nairobi and a conference and festival in Kilifi. The bootcamp will take place from September 1 to 20, 2023, focusing on decentralised EVM innovation, learning, and building. The conference and festival will take place from September 21 to 24, 2023, and will feature workshops, panels, keynotes, and networking opportunities.
It will be an excellent opportunity to learn about Ethereum development trends, network with other Ethereum enthusiasts, and contribute to the Ethereum ecosystem's future.
➥The World's Flagship AI Conference
The TimeAI Summit is the world's flagship AI conference, bringing together industry leaders, experts, and visionaries to explore the latest advancements and innovations in artificial intelligence. The summit will be held in Dubai, United Arab Emirates, on October 4-5, 2023.
The Summit will feature keynotes from top AI experts, such as Fei-Fei Li, Yann LeCun, and Andrew Ng. There will also be workshops, panels, and networking opportunities. The summit is open to all experience levels, from beginners to experts.
The TimeAI Summit is an excellent opportunity to learn about the latest trends in AI, network with other AI enthusiasts, and contribute to the future of AI.
Here are some of the topics that will be covered:
The future of AI
The ethical implications of AI
The applications of AI in different industries
The challenges of AI
The latest research in AI
The TimeAI Summit is a must-attend event for anyone interested in the future o
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Other Articles📚➥Kenyan Government introduces new tax on smartphones
➦Interswitch Integrates Google Pay Support to Enable Contactless Payments in Nigeria
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