TechCabal Daily – Kenya renews Bolt’s licence
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning This newsletter is brought to you by one sleep-deprived writer, and one sleep-deprived editor who stayed up to cover the Apple Event. Before we get into what the new MacBooks look like, you should know that Meta has launched ad-free versions of Instagram and Facebook. For €9.99 on web or €12.99 on mobile, you’ll get no ads across all Meta products. But this shouldn’t excite you unless you live in Europe where the service is exclusively available. Onto the new Apple sensations . In today’s edition Apple releases its M3 chip Kenyan regulator renews Bolt’s license Airtel Africa announces 19.7% increase in revenue MTN Nigeria’s revenues rises by 21.76% Kenya launches first phone assembly unit The World Wide Web3 Opportunities Big Tech Apple unveils new MacBook Pros with M3 chipset GIF source: Apple Today, Apple announced its latest MacBook Pro lineup, alongside its new M3 chipset, its latest chip for Macs. The new chips—M3, M3 pro and M3 Max—are the first chips for a personal computer built using a 3-nanometer technology. This means that they are smaller, more efficient, and more powerful than the previous M1 and M2 chips. MacBook Pro features: The new MacBook models include the 14-inch MacBook Pro with M3, and the 14- and 16-inch MacBook Pro with M3 Pro and M3 Max. All MacBook Pro models come with a Liquid Retina XDR display, a built-in 1080p camera, and an immersive six-speaker sound system, all supported by up to 22 hours of battery life. The release also includes macOS Sonoma, introducing a new high-performance mode in Screen Sharing that enables responsive remote access to another Mac so professionals can securely work on their content from anywhere. Pricing: The 14-inch MacBook Pro with M3 is priced at $1,599, while the 14‑inch MacBook Pro with M3 Pro costs $1,999, and the 16‑inch MacBook Pro is offered at $2,499. Additionally, the MacBook Pro models with M3 Pro and M3 Max come in a stunning new space black colour. Options for every user: The 14-inch MacBook Pro with M3 caters to a diverse audience, including students and entrepreneurs, the 14- and 16-inch MacBook Pro with M3 Pro is designed for users with more demanding workflows, such as coders, creatives, and researchers, and the 14- and 16-inch MacBook Pro with M3 Max is designed for extreme workflows, serving machine learning programmers, 3D artists, and video editors. Customers can start placing their orders for the new MacBook Pro today, with deliveries set to commence on November 7. Access payments with Moniepoint Moniepoint has made it simple for your business to access payments while providing access to credit and other business tools. Open an account today here. Mobility Kenya renews Bolt’s licence Image source: YungNollywood Bolt is driving to freedom in Kenya. Yesterday, the National Transport Safety Authority (NTSA) renewed the company’s operating licence weeks after it initially declined the ride-hailing platform’s request. Bolt had recently removed its problematic 5% booking fees in the country pending the NTSA’s decision. Why is the fee problematic? The regulator declined the initial request, stating that both Bolt and Uber were charging illegal booking fees which were contrary to Kenyan regulations. Bolt, in November 2022, introduced a 5% booking fee which it says “covers support and enhanced technological features that ensure an even more efficient service on our platform”. Uber also charges an 11% booking fee which it says is used for VAT. Initially, the NTSA didn’t appear too confident in these responses, and the regulators even received letters from drivers who threatened to strike unless the charges were removed. It appears that everything may have worked out as the company’s renewed licence indicates that the NTSA believes Bolt is adhering to Kenyan regulations. Zoom out: It may have worked out for the company, but riders in Kenya will be facing higher fares moving forward. The company recently announced a fare increase in response to Kenya’s rising fuel prices. The base fare was increased between KES70 ($0.46) and KES100 ($0.66) across the economy, base, boda, and XL categories. The minimum fare was also increased, with a range of KES200 ($1.33) and KES250 ($1.66) across the categories. Telecoms Airtel records 19.7% increase in revenue Image source: Airtel Airtel Africa reported a 19.7% increase in revenue in the first nine months of this year, according to its financial statements published on the Nigerian Exchange Group (NGX) on Monday. The result indicates that Airtel is bouncing back from a $151 million loss which it incurred in the first quarter of the year due to the naira devaluation. A mixed tale: Despite increasing revenue, the company lost $13 million after tax due to a $471 million foreign exchange loss, and a $317 million loss after tax due to the naira devaluation. Per the report, Airtel experienced double digits growth on its mobile services—data and voice—and its mobile money services. Airtel’s voice revenue grew by 11.5% and its data revenue grew by 28.1%, while its mobile money revenue grew by 30.9% in constant currency. Airtel’s customer base grew by 9.7% to 147.7 million, with data customers increasing by 23% to 59.8 million and mobile money customers growing by 23.1% to 36.5 million. Lights out: Airtel’s revenue increase shows a positive sign after the telecom battled a loss due to gruelling naira devaluation and inflation which affected consumer spending. The company is also planning to list shares on the Uganda Securities Exchange. The telco intends to sell 20% of its wholly-owned subsidiary in Uganda, Airtel Uganda Limited. The evolution of agency banking in Africa In this longform Decode Fintech piece, Paystack explores agent networks in Africa, how they converge with SMEs, and what the future of agency banking means for how money moves across the continent. Read the blogpost. Telecoms MTN Nigeria’s revenue rise by 21.76% Image source: MTN African telecoms are not giving in. MTN’s revenue in Nigeria also increased by 21.76% in the first nine months
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