On Monday, March 13th, Naspers took an axe to its venture capital fund, Naspers Foundry, putting the kibosh on R1.4 billion (~$77 million) in funding. Henceforth, the fund’s portfolio companies and any additional investments shall be tended by Prosus Venture. The Foundry was born in October of 2019, when Naspers’ South Africa CEO, Phuthi Mahanyele-Dabengwa, … Read More “What was Naspers Foundry’s portfolio like before it shut down?” »
US stock futures rallied after strong earnings from Intel Corp, while Asian bonds retreated after Japan surprised investors by loosening its control of market rates. Contracts on the Nasdaq 100 rose more than 1%, with Intel surging 8% in premarket trading as the chipmaker gave a bullish revenue forecast. Advanced Micro Devices Inc. and Nvidia … Read More “US stock futures gain, Japan yields top 2014 high: Markets wrap” »
Deepfake AI technology has emerged as a powerful and concerning trend in the realm of artificial intelligence. Deepfakes are manipulated audio, video, or images created using machine learning algorithms, presenting a false reality that can deceive and mislead. As this technology becomes more sophisticated, recognizing deepfakes is crucial to safeguarding against potential misinformation and preserving … Read More “7 Ways to Recognise Deepfakes Online – IT News Africa” »
Morgan Stanley is selling Gradifi Solutions, a student loan benefits provider, to workplace savings fintech Vestwell. ETrade Financial acquired Gradifi from First Republic Bank for $30 million in 2019, less than three months before Morgan Stanley bought ETrade for $13 billion. Terms of the transaction to Vestwell were not disclosed, but the deal includes all … Read More “Morgan Stanley sells student loan benefits provider to Vestwell” »
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FarmWorks, a Kenyan agtech that provides farmers with access to farm inputs, and market for their produce, has raised $4.1 million in a pre-Series A round led by Acumen Resilient Agriculture Fund, an existing investor. Livelihood Impact Fund, Vested World, a number of family offices and angel investors also participated in the round that brought … Read More “Kenya’s FarmWorks raises $4M pre-Series A funding” »
Rosatom and Burundi sign Memorandum Rosatom and Burundi sign Memorandum on personnel training for the development of technologies in peaceful atomic energy Rosatom and the Republic of Burundi signed a Memorandum of Cooperation for personnel training and education in peaceful atomic energy. The document was signed by Alexey Likhachev, Director General of the State Atomic … Read More “Rosatom and Burundi sign Memorandum” »
The Chinese Five-hundred-meter Aperture Spherical radio Telescope (FAST). Credit: Bojun Wang, Jinchen Jiang & Qisheng Cui More than 15 years after the discovery of fast radio bursts (FRBs)—millisecond-long, deep-space cosmic explosions of electromagnetic radiation—astronomers worldwide have been combing the universe to uncover clues about how and why they form. Nearly all FRBs identified have originated … Read More “Astronomers shed new light on formation of mysterious fast radio bursts” »
Startupbootcamp AfriTech, an accelerator programme cultivating African start-ups, has opened applications for the fourth cohort of its highly commended ASIP accelerator programme. Providing a unique opportunity for early-stage African start-ups, it offers mentorship, industry insights, and global networking opportunities with investors and corporate partners. Africa is witnessing an extraordinary surge in technological innovation, driven by … Read More “Startupbootcamp AfriTech invites ASIP applications” »
Madica, an Africa-focused investment program dedicated to pre-seed stage startups in Africa, has announced the strategic appointments of Rose Odengo and Brenda Wangari. The new appointments strengthen Madica’s commitment to diversity, inclusivity, and innovation in the tech sector across the continent. Odengo’s extensive wealth of experience and expertise will lead her to take on the pivotal role of … Read More “Madica bolsters commitment to diversity and innovation with strategic appointments” »
