Apple iPhone warranty checker 2024
Sometimes you want to check your iPhone warranty for several reasons including replacement or repair eligibility. This article explores reliable methods that serve as a checker to verify various aspects of your iPhone in 2024 in countries like Nigeria, India, and Kenya, among others. Apple warranty check A crucial aspect of iPhone verification involves checking its warranty status. Here are the primary methods: Apple website: Visit the Apple iPhone warranty checker website: https://chow hereheckcoverage.apple.com/. Enter your iPhone’s serial number to view its warranty coverage details (warranty start date, expiration date, and covered repair types). iPhone settings: Alternatively, you can check the warranty status directly on your iPhone. Navigate to “Settings” > “General” > “About.” Look for the “Coverage” section to see if your iPhone is still under warranty. Beyond iPhone warranty checks/checker Verification needs often extend beyond warranty checks. Here are other areas to consider: 1. Apple serial number check The iPhone’s serial number serves as a unique identifier. Locate it engraved on the back of your device or under “Settings” > “General” > “About.” You can use this serial number to check for product recalls or other relevant information on the Apple website. 2. Apple ID verification Your Apple ID is important for accessing Apple services like iCloud and App Store. Ensure your Apple ID details (username and password) are valid to use iPhone functionalities smoothly. Vital considerations regarding iPhone warranty checks Reliable Sources: When searching for iPhone verification methods, prioritise official sources like the Apple website to avoid scams or unreliable information. Third-Party Tools: While some third-party tools claim to offer iPhone checks, exercise caution before using them. Verify their legitimacy and data security practices before proceeding. Final thoughts Apple iPhone warranty checker 2024 Verifying your iPhone in 2024 involves using Apple’s established methods for warranty checks, serial number verification, and Apple ID confirmation.
Read MoreDiageo sells majority stake in Guinness Nigeria to Tolaram for around ₦103 billion
Diageo Plc, the UK-based majority owner of Guinness Nigeria, looks to be exiting Nigeria after selling its 58.02% stake to Tolaram Group, the consumer food giant. Tolaram paid ₦81.60 for those shares, implying around a 60% premium on Guinness Nigeria’s Monday closing price of ₦50. Diageo will retain ownership of the Guinness brand, it will be licenced to Guinness Nigeria, now majorly owned by Tolaram for the long term. Having acquired majority shares, Tolaram will launch a mandatory takeover offer per rules from the Nigerian Exchange. Guinness Nigeria will however remain a publicly listed company. “Under the terms of the agreement signed today, 11 June 2024…Tolaram will enter into a long-term licence and royalty agreements for the continued production of the Guinness brand and its locally manufactured Diageo ready-to-drink and mainstream spirits brand,” a statement from Guinness Nigeria said. The transaction is expected to be concluded in 2025 pending the necessary regulatory approvals. Kimberly-Clark lays off 90% of employees as it begins Nigerian exit “Our partnership with Diageo to jointly grow Guinness Nigeria underscores our commitment to build on our strong presence and heritage in Nigeria, cultivated over decades of dedication and unwavering confidence in the future of Africa,” said Sajen Aswani Tolaram’s chief executive. “We take a long-term view on all our investments and this partnership reflects our optimism on the exciting opportunities that lie ahead across the continent.” “I’m excited to announce our new partnership with Tolaram. Guinness has been Nigeria’s favourite beer for nearly 75 years. Tolaram share this passion for Guinness and for Nigeria, making them the perfect partners as we continue to grow our business and seek to delight even more consumers in the country,” commented Debra Crew, Diageo CEO. *This is a developing story
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👨🏿🚀TechCabal Daily – Lagos turns towards upgrading its danfos
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning When you try to reinvent the wheel without bringing much invention, you end up with a show like Apple’s Worldwide Developers Conference which was held yesterday. What’s new? Well, Artificial Intelligence is out and “Apple Intelligence”—err, AI—is in. (It’s the exact same thing, but Apple-branded.) The tech company is integrating AI into most parts of its ecosystem, including Genmojis, a feature that will allow you to generate unique emojis. iOS users will also be able to schedule messages on iMessage (finally), use iMessage with Android users, rearrange, tint and lock their apps, and generate text content which probably means goodbye to ChatGPT and Gemini. You can check out the rest of the updates here. In today’s edition 2,000 employees are out of jobs after Heritage Bank’s closure Lagos is set to upgrade its danfos Kenya to issue payments licences Ecobank to raise $600 million through debt The World Wide Web3 Job openings Banking 2,000 employees are out of jobs after Heritage Bank’s closure What happens after a bank shuts down? Customer panic? Check! Possible bank run? Check! And sadly the loss of Jobs. For a country with high unemployment rates, Heritage Bank’s closure spells no reprieve. Heritage Bank’s closure means an estimated 2,000 employees are out of jobs. The news came as a shock to many of the affected staff. “Nobody saw this coming. We were not informed at all. But it is well. I believe it is the will of God,” a now unemployed account relationship officer told TechCabal. Before the announcements, Heritage Bank had begun job cuts as a cost-cutting measure, with the cuts affecting mostly drivers and tellers. The bank also terminated the contracts of over 800 contract staff. Affected employees are not without hope. Recruiters and worried colleagues have begun posting job openings in other banks to potentially hire the now-unemployed Heritage Bank employees ever since the news surfaced. Ngozi spoke to some of these employees, who shared how they felt when they heard the news. Read all about it here. Moniepoint is Africa’s fastest-growing fintech The Financial Times has ranked Moniepoint as Africa’s fastest-growing fintech based on its absolute and compound growth rate. Read more about it here. Mobility Lagos is set to upgrade its danfos If there’s anything people can associate with Lagos—other than its flooded suburbia and decade-long gridlocks—it’s the yellow rickety buses everyone calls “danfo”. These buses have been around for almost as much time as Nigeria’s independence, and about 10 million Lagosians ply these mini-buses on a daily basis per data from the Lagos Metropolitan Transport Authority. All these people can testify to three things: that the buses are consistent with their routes and thus reliable; that there is no way to alight without shouting “Owa o!”, and that fares are relatively cheap with most rides costing less than ₦500 ($0.33). Given these stats, the State’s announcement, yesterday, makes a lot of sense. As ride-hailing services are becoming increasingly out of reach for many due to rising fuel costs and inflation, the shrinking middle class of Nigeria is back to using danfo. Lagos is implementing a vehicle scrapping scheme that will offer danfo operators and private vehicle owners the chance to trade in their old, run-down buses for newer models. This will make the buses more comfortable and reliable for riders. “Cabs are non-essential to many, even when the alternative is submitting to Danfos, the popular but chaotic yellow buses that ferry millions of passengers around Nigeria’s commercial capital”, our EIC, Muyiwa Olowogboyega, wrote in this TechCabal article on Lagos’ ailing ride-hailing market. And Lagos’ new plan should help these ride-hailing customers who have seen their fares more than double over the course of two years. The plan, which is part of Lagos State’s new Transport Policy, is also a win for the environment because newer buses will reduce air pollution and the carbon footprint produced by rundown vehicles. There’s very little to go on regarding how the State will expect drivers—many of whom make a gross sum ₦5,000 ($3.3) per day—to pay the difference for these new vehicles, but if it’s anything like the financing model for the state-backed ride-hailing service LagRide, drivers may turn their noses up. Drivers are obligated to drive for 10 hours daily or a total of 150 kilometres—a schedule that one driver, Adebayo Padmore, may have succumbed to earlier this year. Whatever the case, we hope the upgrade Lagos offers to the drivers comes with the iconic yellow paint job with black stripes that have become associated with Lagos danfos over the decades. Collect payments anytime anywhere with Fincra Are you dealing with the complexities of collecting payments from your customers? Fincra’s payment gateway makes it easy to accept payments via cards, bank transfers, virtual accounts and mobile money. What’s more? You get to save money on fees when you use Fincra. Get started now. Fintech Kenya to issue payments licences Remittance startups in Kenya have been in the hot seat lately, with money laundering concerns making them the ultimate party crashers. In 2022, the Financial Reporting Centre (FRC) came knocking on Flutterwave, freezing $55 million and asking some tough questions. And in 2023, the Asset Recovery Agency (ARA) joined the party, accusing the fintech of laundering millions. But here’s the thing: Kenya’s laws didn’t quite fit the fintech scene. That’s why the government in 2022 told banks to stop playing nice with Chipper Cash and Flutterwave, calling them unlicensed entities. But all that’s about to change! Kenya’s apex bank is proposing some fancy new changes to its National Payment Systems Acts, making room for fintech startups to get their license to party (legally, of course). These new licences will provide a clear regulatory framework for their operations. And guess who might be the first to get their hands on these shiny new licenses? Flutterwave and Chipper Cash! So, what’s in it for fintechs? Well, Kenya, with 83% of
Read MoreBREAKING: Access Bank acquires ABCT Bank in Tanzania as it deepens East African presence
Access Bank has acquired African Banking Corporation of Tanzania (ABCT) Limited, deepening its roots in East Africa and continuing a continent-wide expansion. “This strategic move represents a notable step towards setting a railroad in Tanzania for intra-African trade within the East African region, Africa and the rest of the world,” said Roosevelt Ogbonna, Managing Director of the Bank in an NGX filing dated June 10, 2024. “It underscores our commitment to creating a robust East African banking network, driving positive change and innovation. We are excited about the opportunities this acquisition presents for our operations in Tanzania.” Following the completion of the acquisition, Access Bank will merge ABCT with the consumer, private, and business banking business in Standard Chartered, another recently bank it recently acquired. This acquisition aligns with Access Corporation vision of becoming the Most Respected African Bank in Africa and the entry into Tanzania brings the bank closer to a near-term strategy of targeting local, regional and international revenue opportunities across trade, payments and specialized commerce for business and retail customers within the East African region. “The completion of our transaction with Access Bank Plc, not only underscores the strong confidence of Access Bank in our operations and the Tanzanian market but delivers new and exciting opportunities for our customers, employees, and stakeholders,” said John Imani, Managing Director, African Banking Corporation (Tanzania) Limited. “We look forward to an exciting and prosperous future as part of the Access Bank family, driving economic growth and financial inclusion across Tanzania.” Access Corporation has traditionally kept up a tradition of acquiring banks in Africa to continue to expand its growing presence. At the start of the year, it acquired pension firm, ARM Pensions, and Megatech Insurance Brokers Ltd, an insurance brokerage company licensed and regulated by the National Insurance Commission. *This is a developing story
Read MoreKenya to issue payment licences: Flutterwave, Chipper Cash could be first in line
The Central Bank of Kenya (CBK) plans to issue payment licences to fintech startups soon, an important softening of an earlier stance that will open up East Africa’s largest payments market. Flutterwave and Chipper Cash are two fintech companies hoping to be granted those licences. CBK governor Kamau Thugge said the regulator is working around the clock to amend the National Payment Systems Act of 2011 to give a legal framework for fintech firms to operate. The proposed changes could be a big win for remittance and payment providers who have faced investigations and raids by Kenyan authorities on allegations of money laundering. CBK’s proposed changes to the National Payment Systems Act to allow the registration and licensing of fintech startups could solve a legal grey area that has slowed down the expansion of fintechs in the country, allowing commercial banks and telcos to dominate. “We are in the process of updating and amending the Payments Act, basically coming up with a new act. We hope to be able to finish that soon and also the regulations and that would guide our way forward in terms of payments service providers space,” said Kamau Thugge, CBK governor. Thugge was responding to a TechCabal question on the status of Flutterwave and Chipper Cash registration in Kenya during the post-monetary policy committee (MPC) press briefing. Kenya’s financial sector is regulated under the Central Bank of Kenya Act, the National Payment Systems Act alongside the National Payment Systems Regulations of 2014, and the e-money Regulations of 2013, all of which are unclear on fintechs. This has put remittance and payment startups on a collision course with Kenyan authorities, with law enforcement including the Financial Reporting Sector (FRC) and the Asset Recovery Authority (ARA) freezing accounts and seizing assets of sector players on money laundering charges. In 2022, CBK ordered local financial institutions including banks and mobile money service providers to cut links with fintechs, citing unspecified threats to the country’s financial systems. The regulator said then that the firms were operating without authorisation.
Read MoreWhy did it take years to shut down troubled Heritage Bank?
Despite Heritage Bank’s struggles dating back to 2018, Nigeria’s Central only revoked its licence last week, prompting questions on why the decision took so long. According to a financial analyst who asked not to be named so he could speak freely, administrative bottlenecks may have contributed to the delays, with the CBN needing to identify distress, conduct examinations, and appoint a liquidator. “The process could take up to 24 months,” that person said. Additionally, an ill-timed revocation of Heritage Bank’s licence might have triggered a bank run on other banks, causing depositors to attempt to withdraw their money en masse and driving panic. “The failure of one bank can lead to a loss of confidence in the entire banking sector,” said Ayoola Kosoko, a financial analyst. The revocation of Heritage’s licence coincides with a CBN requirement for major banks to increase their minimum capital requirement at least fifty-fold. With a ₦1 trillion deficit in its capital base—equity, reserves, and accumulated earnings—the struggling lender would never have met those requirements. Although the CBN attempted to salvage the bank, it concluded that there was “no reasonable prospects of recovery.” Heritage Bank’s struggles stemmed from a high volume of non-performing loans. Internal documents revealed that a staggering ₦490 billion of non-performing loans likely stemmed from risky lending practices and questionable corporate governance. The Asset Management Corporation of Nigeria (AMCON), an agency created in 2010 to absorb the liabilities of struggling banks and save a financial system determined to be at risk, has also run into problems. While AMCON was supposed to be a short-term solution, it now has unrecovered liabilities totaling ₦5 trillion, with the banking committee of the Nigerian Senate arguing that it must be scrapped. AMCON’s current problems could have narrowed down the CBN’s options. For instance, when Skye Bank’s licence was revoked in 2016, it was acquired and run by AMCON before being sold to new investors. Without a resort to AMCON, several unconfirmed reports claimed that the regulator had tried to arrange an acquisition. However, many banks have learned that acquiring distressed companies can be more trouble than it’s worth. Heritage Bank’s ₦56 billion acquisition of Enterprise Bank in 2014, for instance, was considered a major misstep. Access Bank’s acquisition of Intercontinental Bank in 2012 was similarly complicated. Beyond due diligence and disclosures, distressed banks often have problems that can never be seen from the outside by the acquiring party. “An acquisition must have been unsustainable because the hole was too big to be filled,” said a financial analyst who asked not to be identified so he could speak freely. Ultimately, the revocation of Heritage Bank’s licence signals to the financial sector that underperforming banks will not receive any soft landing from AMCON and while the CBN has denied that two other banks will have their licences revoked, there are still clear question marks around some financial institutions.
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How ride-hailing in Lagos went from disruption to disarray
Yellow cabs, once an icon of the Lagos roads, were mostly decaying pieces of infrastructure. They were old and barely roadworthy, their discoverability was wonky and fares were expensive. Finding and hailing a cab depended on luck or living close to quickly disappearing taxi parks. When Uber launched in Lagos—shortly followed by Taxify—in 2016, it was primed to disrupt a sector in disarray. Ten years after disruption (read: hefty bonuses, driver incentives, and subsidised rides) pushed yellow cabs into near extinction, the ride-hailing companies that have replaced them have become the yellow cabs of the 90s. Ride-hailing companies now typify what they displaced: wait times are long, car quality has significantly declined thanks to stiff competition, and driver shortages are driving shocking price rises. Everyone within the system speaks of extreme dissatisfaction. The gig workers who led the technological revolution have seen a stunning change in their fortunes. Once courted by companies offering hefty bonuses and incentives as two ride-hailing firms competed for dominance in major cities, they’re now struggling to earn a living as macroeconomic conditions and elastic demand means higher operating costs cannot easily be transferred to customers. They have formed unions and are asking ride-hailing firms to increase the base fares customers pay. They also want better working conditions and a seat at the decision-making table. Nothing suggests they’ll get what they’re asking since they have little leverage. Ride-hailing companies, which have insisted the drivers are independent contractors and not workers—this distinction is crucial—also have struggles. Bolt cut its Nigerian team in May, although it insisted that such cuts were routine. Ten years after disruption (read: hefty bonuses, driver incentives, and subsidised rides) pushed yellow cabs into near extinction, the ride-hailing companies that have replaced them have become the yellow cabs of the 90s Yet, the biggest sign of the difficult place the companies find themselves is how they carefully think about transferring costs to customers. Cab rides, always considered a luxury in Nigeria, are more out of the reach of most people because of an increase in fuel prices and a rapid naira devaluation that has seen the cost of imported vehicles soar. Taiwo Florence, who lives in the Isolo area of Lagos and uses ride-hailing apps for personal and business trips, said a recent trip triggered a “moment of financial reevaluation.” She paid ₦12,000 for a trip that used to cost ₦5,000. Despite these high prices, many drivers believe it’s not reflective of the real cost of the rides and that they’re the ultimate sufferers with little money left after fueling and servicing their cars. They’re finding interesting workarounds. While the number of drivers moving out of the sector is unclear, existing drivers are signed up on multiple platforms to maximise returns. With differing commission rates (Bolt takes 25%, InDrive 10% -11% and Rida takes 10% in commission), drivers accept rides from apps that offer the best prices. It’s a constant juggling act, said Michael, a driver who uses all the existing ride-hailing apps. The real bogeyman for customers, drivers, and ride-hailing companies is inflation and a shrinking middle class cutting off non-essential purchases. Cabs are non-essential to many, even when the alternative is submitting to danfos, the popular but chaotic yellow buses that ferry millions of passengers around Nigeria’s commercial capital.
Read More2,000 Heritage Bank employees out of jobs after surprise license revocation
Heritage Bank staff found out about license revocation like everyone else. While speculation of a takeover of Heritage Bank had swirled in the financial industry circles for years, its license revocation on June 3 surprised almost everyone. The announcement, which put an estimated 2,000 employees of the tier 2 bank out of jobs, sent shockwaves through the bank’s open-plan Victoria Island office, according to six employees who spoke to TechCabal. “Nobody saw this coming. We were not informed at all. But it is well. I believe it is the will of God,” a now unemployed account relationship officer told TechCabal. Since June 2023, the bank’s liquidity struggles meant it could not process customer withdrawals. It began placing restrictions on customer accounts, said one ex-employee with knowledge of the matter. While higher-level employees expected an intervention from the regulator, they did not anticipate a liquidation. “We thought the Central Bank would create a bridge bank to take over the [bank’s administration and try to restore its operations to normalcy],” a highly placed staff told TechCabal. So when NDIC officials walked into the office on the morning of June 3, many thought it was a regular audit, since the central bank had recently notified the bank of an upcoming Anti-money laundering (AML) audit, according to two ex-employees. “They instructed us to pack up all our personal belongings and only that, and evacuate the building,” another employee who worked at the Ajose branch told TechCabal. “I think they made the visit impromptu so that no one would move anything valuable from the building before they arrived.” The bank may have also kept the liquidation under wraps to prevent a bank run before the process kicked in. Employee salaries were paid into their Heritage Bank accounts, so a few people had a chance to move their funds. The NDIC began processing withdrawals under N5 million on June 6 and Heritage Bank employees are applying for the insured deposit. It involved filling out a paper form being issued at Heritage Bank branches and at the NDIC offices across the country. “But some don’t even have transport fare to go and physically fill out the form for reimbursement,” a now-unemployed junior staff told TechCabal. This abrupt job loss follows protests at the head office against the job cuts happening across its branches since March. “The bank terminated its contract with an outsourcing firm which managed about 800 contract staff some of whom had worked with the bank for over a decade,” a member of the bank’s domestic union told TechCabal. The job cuts may have been an attempt to reduce operating costs ahead of the liquidation. The cuts affected mostly drivers and tellers, some of whom were forced to forfeit their pensions. Some full-time staff were demoted or relocated to other branches, according to another Heritage Bank staff. Now with the liquidation of the bank, all 2000 employees are out of jobs. “We were negotiating better compensation for affected employees before this happened,” Jekwu, the chairman of the domestic union of Heritage Bank told TechCabal. “However, the bank is yet to address the current circumstances.” However, since the news broke, recruiters and concerned industry colleagues have been advertising vacancy notices in other banks to now unemployed Heritage Bank staff.
Read MoreEcobank shuns capital markets to raise $600m through debt instruments
Ecobank Transnational Incorporated, a pan-African financial institution with a national banking licence in Nigeria, will sidestep the Nigerian Exchange and other capital markets in its plan to raise $600 million to meet Nigeria’s recapitalisation requirements. The funding will be raised through senior-ranked debt or loan facilities that offer the lowest interest rates and are given the highest priority in terms of repayment. The bank which hit a $2 billion revenue in its 2023 revenue, will also consider debt that ranks below senior debt and come with higher interest rates. By focusing on debt instruments outside the capital market, Ecobank will be avoiding the domestic market which could be crowded due to other financial institutions trying to raise funds alongside the federal government, according to Benedict Egwuchukwu, an investment research analyst with Afrinvest West Africa Limited. The company is also looking to take advantage of “better interest rate offers from economies who have started implementing policy rate cuts, thereby reducing the borrowing rates,” Egwuchukwu said. The company could also be prioritising debt because the amount they need to meet the recapitalisation requirement— ₦200 billion—is relatively small, said Olumide Sole, banking analyst at Vetiva Capital Management Limited. The Nigeria Exchange offers equity and debt funding to listed companies. However, financial institutions like FCMB, Stanbic IBTC, and Fidelity are raising additional funds primarily through equity on the Nigerian Exchange and markets outside the country. Fidelity Bank on Wednesday, June 5, 2024, commenced its push to raise ₦127 billion from the Nigerian Exchange. Other companies are expected to join Fidelity before the end of the month. This would not be the first time Ecobank Transnational Incorporated is raising money outside the capital market. In March 2024, the company secured a $250 million loan facility from African Export-Import Bank and Africa Finance Corporation to support trade and generate corporate purposes. “Ecobank Transnational Incorporated doesn’t just operate in Nigeria, hence the dollar consolidated financial statements,” Egwuchukwu said. If Ecobank raises the proposed figure, it will receive a liquidity boost, diversify its funding sources, and improve its overall market stability.
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👨🏿🚀TechCabal Daily – South Africa’s crypto crier
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning We need your help! Could you let us know what you think about TC Daily so far? Think of it as your chance to become the editor-in-chief (without the boring meetings). Start your week by doing us a favour, and tell us what you think in two minutes. In today’s edition What’s the future of ISPs in Africa? South African crypto hustler bawls eyes out in court NITDA inaugurates Nigeria’s startup labelling committee Nigeria wants to train 30 million youths The World Wide Web3 Job openings Techxperts Talk What’s the future of ISPs in Africa? Over the past two weeks, I have become a small menace to the League of Legends online gaming community—partly due to my three-year experience in playing the game—but also because I now have access to Starlink which means I lag a lot less and my plays are faster at 122MBPS. Chances are that if you find any Nigerian with internet speeds measuring in megabytes per second, they’re not using traditional internet service providers. While Starlink has just about 24,000 users in Nigeria, it’s steadily gaining credence across other African countries too. In the space of one week in May, for example, it got licensed in Zimbabwe and Botswana. Outside the ten or so countries where it’s legally available, users in other countries like Senegal are risking jail time just to use the service. Other countries like Ghana are also developing their own satellite internet services. To understand the impact of these new technologies, I spoke to Diseye Isoun, founder of internet service provider Content Oasis. Diseye Isoun for TC Daily TC: With Starlink now available in over 10 African countries, how does this impact traditional ISPs in Africa? Diseye: ISPs in Nigeria and many other African markets are struggling. According to the NCC, the ISP ecosystem is generally weak, with 98–99% of internet access coming through mobile devices and telcos (MNOs). Less than 1% of internet access is through fixed connections like fixed wireless access or fibre to the home. Starlink brings a new dynamic by being a non-MNO player and has quickly gained traction as an ISP, with 24K terminals as of Q4 2023. However, purchasing power challenges in Africa make the one-time equipment fee a significant impediment for most Africans despite Starlink’s lower price point in Africa compared to other markets. than the rest of the world ($250-$350). Two other significant hurdles beyond the one-time fee are the equipment’s shortened lifespans caused by an unreliable, surge-prone power supply and the risk of vandalism and theft of the outdoor component of the equipment. While Starlink may capture the high-end broadband market, penetrating the MNO business or underserved markets is a more difficult and nuanced challenge. TC: Where do you see satellite internet playing the biggest role in bridging the digital divide in Africa? Diseye: The role of satellite internet in bridging the digital divide in Africa depends on how players like Starlink, Amazon Kuiper, Telesat Lightspeed, and OneWeb choose to proceed and collaborate in Africa. These global satellite players make strategic commitments to different regions. These services can become more affordable if they invest and collaborate effectively in Africa. Before Starlink, most satellite companies focused on selling equipment and reselling from a distance, treating their products as arm’s-length solutions. A deeper commitment to the African market is needed to make these services more accessible and affordable. TC: The entry of a new player like Starlink might necessitate adjustments in regulations and pricing strategies. How can African countries ensure a healthy balance between fostering competition and protecting existing ISPs? Diseye: Starlink can enable existing ISPs, which make up a small part of the total market. The bigger question is how they will interact with MNOs, which dominate over 90% of the market. Collaboration between Starlink and ISPs could help both parties thrive and provide better consumer services. In fact, the most dominant LEO satellite provider in Africa (that can also grab some market share from the MNOs) will be the one who cracks the code on engaging the local ISP market and making them allies, not adversaries. TC: Do you think satellite internet will eventually replace traditional ISPs in Africa, or will they coexist and cater to different needs? Diseye: LEO Satellite Internet will not replace traditional ISPs in Africa; they can coexist and cater to different needs. Traditional ISPs can adapt and innovate by focusing on value-added services that complement Starlink’s connection. For example, ISPs could provide community Wi-Fi, point-to-multipoint connections, campus networks, first-level support, cybersecurity, and educational tools alongside a satellite internet service. In addition, offering complementary equipment like surge protectors, solar solutions, and localized support will be crucial. ISPs need to consider value addition and improving the internet experience for customers and specific locations, whether for SMEs, MSEs, or LSEs. By doing so, they can remain relevant and even thrive in the evolving landscape. Moniepoint is Africa’s fastest-growing fintech The Financial Times has ranked Moniepoint as Africa’s fastest-growing fintech based on its absolute and compound growth rate. Read more about it here. Crypto South African crypto hustler bawls eyes out in court Have you ever cried in public? (Don’t worry, we won’t judge…much). Meet South Africa’s crypto starboy, Neil de Waal, who went from flaunting his fancy crypto lifestyle on social media to, well, bawling his eyes out in court! In a dramatic turn of events, Neil de Waal, a South African cryptocurrency entrepreneur known for his flashy lifestyle and brazen claims of “mooning” his way to riches, was taken into custody and brought before the court to face charges related to his crypto trades. De Waal was accused of operating a Ponzi scheme, committing fraud, and laundering millions in cryptocurrency. De Waal is alleged to have promised unsuspecting investors astronomical returns on their investments, touting his “foolproof” trading strategies and “exclusive” access to lucrative crypto projects. However, it seems that the only thing that was “moon-ing”
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