Home Life Style Good News – Nigeria’s Puma scandal, Ugandan surveillance, African cryptocurrencies

Good News – Nigeria’s Puma scandal, Ugandan surveillance, African cryptocurrencies

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Good News – Skip to navigationSkip to contentDiscoverLatestObsessionsThese are the core obsessions that pressure our newsroom—defining matters of seismic significance to the realm economy.FeaturedThese are about a of our most brave editorial tasks. Have the merit of!EmailsOur emails are made to shine in your inbox, with something unusual every morning, afternoon, and weekend.Turn real into a memberPlus: Is Nairobi ready to turn real into a world monetary heart?Hi Quartz Africa readers!Nairobi has already made a establish for itself as a regional hub of switch, commerce, innovation, and expertise. Now, plans are underway to steal the city to the following stage, and was it real into a world monetary heart.Kenya’s open of the Nairobi Global Monetary Heart (NIFC) remaining week marks this aspiration while demonstrating the openness of the nation’s economy. It additionally demonstrates its self perception in its have capacity to compete on the arena stage, says Label Napier, CEO of FSD Africa, a nonprofit that promotes monetary sector construction across sub-Saharan Africa.The center, which has been within the works since 2014, is supposed to serve disclose world investment to Kenya and Africa at large, ensuring companies and investors can steal profit of switch and investment opportunities. It targets to spice up bigger than $2 billion in investments by 2030.Whereas the NIFC is an investment and job-creation instrument, it additionally producers Kenya as a nation ready to embrace unusual expertise and be linked to the realm economy, Napier says.The continent has great to compose. Kenya has a stylish monetary system, but the float of money is comparatively low. And Africa’s fragment of world monetary flows is minuscule, says Vincent Rague, chairman of the NIFC. He argues that in reveal for this mission to be a success, Kenya will now no longer easiest want to plot world capital to Nairobi to serve finance tasks, but additionally use the capital as a conduit for financing elevated tasks on the continent.If Nairobi does this effectively, this would be a capture, now no longer easiest for the nation, but additionally for the gap. —Carlos Mureithi, East Africa correspondentReports this weekAfrican fintech companies have a boost command. Wonderful 5% of the 716 studied in a present document had been ready to scale. Carlos Mureithi explains what the study by the London Industry College and the UK Foreign, Commonwealth, and Construction Region of job says about Africa’s fintech industry.Nigeria’s now no longer easy Olympics lawful bought more challenging. Nigerian athletes went to Tokyo hoping for a summer season of sports activities and sunshine. Instead, they confronted drug take a look at negligence and mismanagement. Alexander Onukwue reports on the most up-to-the-minute blow to the nation’s Olympics crew, the cancellation of a $2.7 million equipment tackle Puma.African central banks prefer a bit of digital currencies. A series of African worldwide locations want to open their have virtual money, backed and issued by central banks, as appetite for digital forex grows exponentially across the continent. Conrad Onyango writes in regards to the incentive within the lend a hand of this shuffle and the many modes assorted worldwide locations are employing.Tanzania’s taxman looks to cellular wallets. The nation’s authorities now no longer too lengthy ago hiked taxes on cellular money transactions. Priya Sippy takes a have a look on the following dip in transactions and the stress that companies and folks are going thru as a result.Uganda expands surveillance to boda bodas. The Ugandan authorities used to be accused of utilizing Huawei’s facial recognition expertise deployed in Uganda to crack down on dissent. Stephen Kafeero reports on a brand unusual controversial surveillance tackle a Russian firm that will show screen autos, including the nation’s ubiquitous boda boda motorcycles.Charting African media protection of AfricaIn 2005, the slack, noteworthy Kenyan author and activist Binyavanga Wainaina’s Granta essay on “How one can write about Africa” went viral.Almost twenty years later, it’s a long way price assessing how a long way up-to-the-minute-day protection of Africa has come. Final year, Africa No Filter (ANF), a collaborative neighborhood that targets to “enhance the enchancment of nuanced and contemporary stories that shift stereotypical and substandard narratives within and about Africa,” surveyed 38 African editors and analyzed over 300 articles from 60 African news shops in 15 worldwide locations. It found an alarming proportion of stories focused on warfare and crises.“Africa’s media has loads to answer to for,” says Moky Makura, ANF’s executive director. “In spite of what we now have gotten come to imagine, they, now no longer the Western media, are complicit in reinforcing the continual yarn that Africa is broken.”DealmakerNaked, a South African insurtech startup, has raised an $11 million Sequence A spherical to lend a hand its plans for boost. This used to be led by Naspers Foundry, which invested $8.3 million, with present investors Yellowwoods and Hollard providing the balance. Founded in 2018, the startup uses AI and automation as insurance tools.CreditFins, an Egyptian credit score card management and monetary wellness platform, has closed an undisclosed pre-seed spherical to compose its product and plot its customer snide. This used to be led by Flat6Labs, AUC Angels, and TA Telecom Maintaining, and additionally featured additional angel investors.Kuda Monetary institution, the Nigerian neobank, has raised $55 million in a Sequence B spherical at a valuation of $500 million to pressure unusual products and companies within the nation and a ramification across the continent. The spherical used to be co-led by present investors Goal Global and Valar Ventures, while SBI Funding and other previous angels were people. A $25 million Sequence A spherical closed four months ago.One large number$366.9 million61 days in, that is how great Nigeria’s twitter ban has payment the nation, in accordance to study by High10VPN. The British firm estimates that the ban alone makes Nigeria one of many worst affected worldwide locations in Africa by net shutdowns. Alexander Onukwue reports on the ongoing impact of the ban and the realm economic fees of the accept going shadowy.Quartz GemsBelow is a snippet from the first installation of The Forecast, one of 4 unusual member emails we introduced this week, on hand exclusively for participants.📈 Charting the upward thrust of VC investmentA cramped bigger than a decade ago, VC used to be a arena of interest corner of finance. Its focal point used to be on highly unpleasant expertise companies—mostly in computer hardware and tool, biotech, and scientific devices—with the functionality to gain in fact large. And the thought used to be that now no longer many companies fit the invoice.But since the Vast Recession, VC investment has exploded. Globally, it’s bigger than 10 cases what it used to be lawful 15 years ago. In the US, VC investment is now effectively above its dot-com generation height.QuartzWith more and more money on hand, tech startups are now no longer easy apparently every industry, from particular person merchandise to entertainment to banking to build mosey. The search files from is how a long way the Silicon Valley mannequin of beginning and funding companies can lengthen itself—and whether or now no longer it’s due for one other smash.Love what you lawful read? Turn real into a Quartz member—now 40% off with code QZEMAIL40—and as well you’ll gain your resolution of 4 unusual emails to withhold you within the learn about industry trends, companies to see, and loads more.Fairly about a issues we likedDancing to Maggie’s beat. Fueled by lockdown blues, Maggie Mkandawire’s ingenuity is serving to Karonga, a northern Malawi city, fight Covid-19. The 24-year-outmoded music pupil’s motion has helped the fight against vaccine hesitancy, holding, and Covid-19 myths, writes Thoko Chikondi in Mail and Guardian.Durban’s Muslim community is left shaken. South Africa’s Muslim community has been ripped apart by the lethal revolt, in particular in KwaZulu-Natal, fueled by racial tension between Indians and Africans. Muslim activists and intellectuals are now proposing a brand unusual antiracist construction to forestall this from occurring again, reports Anna Majavu in Unique Frame.Transatlantic reptiles. A brand unusual document explores the functionality link between the transatlantic slave switch and the extensively found African apartment gecko. In the Unique York Times, Sabrina Imbler elaborates on how this study is reconstructing the evolutionary historical past of the stealthy, resilient stowaway lizard.Honoring the mum of most up-to-date African dance. Germaine Acogny of Senegal is quiet making strikes within the realm dance world at 77 years outmoded. Vogue’s Liam Freeman interviews the parable, who now no longer too lengthy ago bought the Golden Lion for Lifetime Achievement award on the Biennale Danza in Venice.Nigeria’s prime-earning CEOs. In step with a brand unusual PwC document, CEOs of Nigerian-listed companies are amongst the tip-earners on the continent except South Africa. Bloomberg analyzes these figures within the context of the pandemic and rising profits inequality on the continent.ICYMISharing tips and experiences. The Global Conference on Economics and Industry Evaluate will give people the opportunity to fragment their tips and experiences. (Aug. 10)Empowering African genomic scientists. The Africa Heart for Translational Genomics is offering scholarships to emerging genomic scientists. (Aug. 15)Transitioning from fossil fuels. The next installment of the PwC and Invest Africa Energy series will explore carbon neutrality in Africa. (Aug. 17)🎵 This transient used to be produced while being attentive to “Stepping Correct” by A-Vast establish feat. Sho Madjozi (Ghana and South Africa)Our easiest needs for a productive and ideas-crammed week ahead. Please send any news, comments, solutions, tips, Puma kits, and African dance strikes to [email protected] You may well apply us on Twitter at @qzafrica for updates for the length of the day.In case to catch this electronic mail from a chum or colleague, you can also join right here to receive the Quartz Africa Weekly Transient in your inbox a week. You may well additionally apply Quartz Africa on Fb.Taking half in Africa Weekly Transient? Forward it to a chum! They’ll click on right here to join. 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