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Binance Accuses Nigerian Officials of Bribery Attempt

Binance Accuses Nigerian Officials of Bribery Attempt

India wants to link UPI to Ghana and Amazon launches in South Africa

May 10, 2024

What’s happened this Week:

Amazon launches Amazon.co.za in South Africa
Microsoft might be shutting down its development center in Nigeria
and more!

Falling Walls Venture Call For Applications

The Falling Walls Global Call aims at promoting scientific findings and fostering discussion on research and innovation among a broad audience from all parts of society. As part of it, Falling Walls Venture highlights science start-ups that have translated breakthrough scientific thinking into successful business models.

Start-ups can be nominated by universities, academies, scientific institutions, companies, and foundations worldwide.

For more information on the submission process and selection criteria visit https://falling-walls.com/venture/nominate-a-startup/ and https://fallingwalls.com/global-call/

The Global Call runs from 1 March – 15 May 2024

In The News This Week:

Seamfix Raised $4.5 Million to Expand Digital ID and Credential Services across Africa

Seamfix, a global digital identity solutions provider, has secured $4.5 million from Alitheia IDF to scale the technology infrastructure that underpins its solutions, improve data flow crucial for continental trade and integration, and kickstart the expansion of its digital ID and credential services into five new African countries.

Ghana and India Working To Link UPI and GHIPSS Payment Systems For Fund Transfers

India and Ghana have been in talks to link their payment systems – Unified Payments Interface (UPI) and Ghana Interbank Payment and Settlement Systems (GHIPSS) respectively to permit users to make instant, low-cost fund transfers.

Microsoft Might Be Shutting Down Its African Development Centre In Nigeria

News reports are circulating that Microsoft might be shutting down its African Development Centre (ADC) in Lagos, Nigeria.

In the rest of the news:

Deep Dive

Binance Accuses Nigeria Of Bribery For Its Case To Be “Resolved”- The case of Binance in Nigeria continues to get worse after the Binance CEO wrote a blog post accusing Nigeria authorities of attempted bribery.

Details: Chief Executive Officer Richard Teng made the claim in a blog, detailing how the Binance tried to engage with Nigerian authorities, including a Jan. 8 meeting in Abuja, the capital, where it was confronted with criminal allegations.

Zoom Out: Nigeria, which blames crypto speculators for some of the naira’s steep recent losses against the US dollar, disputed this account.

In Nigeria, the confrontation led to the arrest of two of its staff after they returned in late February for further talks.

Africa Ecosystem Activity

AfriLabs, Intel partner in bid to propel Kenyan deep-tech ecosystems - Disrupt Africa
Kenyan agri-tech startup Farm to Feed secures funding to help it scale - Disrupt Africa
Egyptian group-buying startup Waffarha raises 7-figure seed round to expand - Disrupt Africa
10 Egyptian startups win VMS Bridge Programme awards - Disrupt Africa

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Stat of The Day

According to 2023 data from Gallup Poll, Mail was the number-ranked country in Africa that had the highest positivity in the job market.

When asked if the job market was currently a good time, 73% responded that it was a good time.

View more data insights below: