- June 17 2023
Heritage Bank calls reports of N49 billion fraud ‘defamatory’ amid ongoing fund transfer delays
After a week of unaddressed allegations that the bank’s staff made away with ₦49billion, Heritage Bank has denied the report, but its customers are not convinced because they can’t make transactions Heritage Bank has denied reports alleging that a member of its information technology team diverted ₦49billion and disappeared. “The allegations are wrong and defamatory. These articles have used unrelated facts and conjecture to create a fictitious narrative, “the bank told TechCabal in a statement yesterday forwarded by Ozena Utulu, its corporate communication manager. The bank said it has embarked on long-term sustainability plans premised on restructuring the bank, ensuring cost efficiency, and management of its assets, and confirmed reports that it had reduced its workforce. However, it stressed that the staff affected had been duly compensated. Despite these claims, customers banking with Heritage still struggle with poor customer service, delayed transfers, inability to move depositor funds and failure of the bank’s apps. Two customers confirmed this to TechCabal. A banking customer known as Isaac told TechCabal that he had been unable to withdraw his funds from Heritage Bank for the last seven days. “I have money in my account. I have been unable to withdraw it for days. I tried more than 20 times. I will have to visit the bank on Monday to remove my money,” he said. Esther Onwubuya, another Heritage Bank customer, told TechCabal that the bank has been experiencing network issues that have made it difficult for her to withdraw money. “I don’t know if this has anything to do with the rumors. It’s always a hassle to send funds. Last month, we even had to go to the bank.” And while Heritage bank however said in its statement that it’s committed to collectively driving growth and delivering exceptional service to all, Onwubuya is unmoved. “I saw the statement, but it doesn’t take away from what’s currently happening. I even hear that the ATM services are poor too.”
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- June 16 2023
SASSA SRD reapplication comprehensive Guide 2023
The Social Relief of Distress (SRD) grant has been a lifeline for many vulnerable individuals and families in South Africa. This grant provides temporary financial assistance to those who are experiencing significant distress and are unable to meet their basic needs. If you have previously received the SRD grant but find yourself in a position where you have a reason to reapply, this article will guide you through the SASSA SRD reapplication process in South Africa. 1. Understand the eligibility criteria Before beginning the reapplication process, it’s essential to familiarise yourself with the eligibility criteria for the SASSA SRD grant. In general, the grant is targeted towards unemployed South African citizens or permanent residents who are currently not receiving any form of income or social assistance. Ensure that you meet all the necessary requirements to proceed with the application. 2. Gather the required documentation To successfully reapply for the SRD grant, you will need to gather certain documents. These typically include: a) Identification Documents: You will need a valid South African ID document or any official form of identification that verifies your South African residency or citizenship. b) Proof of residence: Collect documents such as utility bills or a letter from your ward councillor that verifies your place of residence. c) Bank Statements: Obtain recent bank statements that demonstrate your financial situation and lack of income. d) Proof of unemployment: Gather any documents that support your current unemployed status, such as a retrenchment letter, termination of employment letter, or an affidavit. See a more comprehensive list of documents required here. 3. Contact the South African Social Security Agency (SASSA) To initiate the reapplication process, it’s crucial to get in touch with the South African Social Security Agency (SASSA). You can reach them through their toll-free helpline or by visiting your nearest SASSA office. Explain your situation and request guidance on the SRD reapplication process. They will provide you with the necessary information and assistance to proceed. 5. Submit the application The SASSA portal will provide you with an SRD application form. Ensure that you fill out the form accurately and provide all the required information. Double-check your responses to avoid any errors that may delay or hinder the processing of your application. Once you have completed the application form, submit it to the portal. Ensure that you attach all the required documents along with your application. This will help expedite the review process. 6. Follow up on your SASSA SRD reapplication After submitting your SASSA SRD reapplication, it’s crucial to follow up on its status via the online portal. You can also contact SASSA to inquire about the progress of your application and whether any additional information is required. Patience is essential during this stage, as the processing time may vary depending on the volume of applications received. Final thoughts on reapplication for the SASSA SRD Reapplying for the Social Relief of Distress (SRD) grant in South Africa can be a vital step in accessing temporary financial assistance when facing distressing circumstances. By understanding the eligibility criteria, gathering the required documentation, and following the application process through the South African Social Security Agency (SASSA), you can increase your chances of receiving the much-needed support. Remember to stay patient and maintain communication.
Read More- June 16 2023
How Adbot is using AI to make online advertising efficient for small businesses
Adbot is a South African adtech startup that uses artificial intelligence to enable small businesses to efficiently run their online advertising campaigns. The company recently announced a seed round with plans to expand into Nigeria. According to data by McKingsey, in the last five years, the share of Africans who choose to buy goods and services online has more than doubled, translating to about 10% of the entire population on the continent. Additionally, online sales in Africa are growing at around 25%, year-on-year—one of the highest rates in the world—with more than 10 million people starting to buy online each year. Adbot is a South African adtech startup looking to help small businesses piggyback on this trend. The startup offers AI-powered automated ad campaign management that enables SMEs to get their Google and Bing ads online within just 10 minutes, or so the company claims. To achieve this claim, Adbot recently raised an undisclosed seed round from Tofino Capital to scale its product to more markets including Nigeria. TechCabal caught up with Adbot founder and CEO, Michelle Geere, to learn more about the role AI plays in online advertising, fundraising during a downturn, the state of online advertising in Africa, and much more. TechCabal: Please tell us more about Adbot and the company’s product offering Michelle Geere: We are an adtech company offering automated online ad campaign management for SMEs in Africa using artificial intelligence. The problem we are solving is that, at the moment in Africa, if you want to get your business online, number one, you need a credit card. You need a credit card to get your business onto Google or onto Facebook, or any one of those different platforms and we know that Africans don’t bank the same way as everybody else. Additionally, if you want to get your business online, you have to do your own campaign management which is a task and a half especially if you are not skilled at it. So what often happens is, when it comes to online advertising, small businesses do want to take advantage of it, but they just don’t have the means. What ends up happening is they just don’t, and they find other ways of doing it, which are most of the time costly and generally inefficient compared to online advertising. To address that problem, we have built a piece of technology that can do all the management for the business owners. They don’t have to be an expert in digital marketing or Google Adwords. The technology automatically manages their campaigns for them so they can just focus on growing their businesses. Adbot recently closed its seed round. What was your experience with trying to raise capital in a funding downturn? MG: It is tough to get funding at the moment. I think what we had in our favour is that we started chatting to the Tofino Capital team and there was just a really good cultural fit. I have a personal passion for reducing the failure rates of SMEs in Africa and they are similarly interested in businesses in Africa who are contributing to the success of other businesses in Africa. So I think what really sealed that deal is the fact that we shared that same mission. It was a very quick decision with regard to getting it over the line. What challenges did you face in your operations in South Africa and what challenges do you anticipate in the markets you will be expanding to? MG: Firstly, I think the challenges in South Africa are slightly different to the challenges in Nigeria where we are planning to expand to. One of the reasons we raised was to expand into other parts of Africa because South Africa’s challenge is that people don’t understand automation yet. I think over time, the understanding of the fact that a machine can do it better than you will sink in but at the moment, that’s not the case. The launch of ChatGPT seems to be changing that mentality which is a welcome development. In Nigeria, I think the challenge will be to introduce the concept of ads and online services because the country has a very specific way of doing e-commerce. For example, e-commerce via social platforms like Instagram is very common but the likes of Google Search, not very much so. The challenge will be educating the market that they can do what they’ve been doing on a bigger scale using our technology. What advantage does Adbot have over business owners doing their own ad campaign management? MG: If you were a small business owner, and you went directly to Google, and bought ads from Google, you would have to know exactly how the platform works. This has quite a steep learning curve and requires dedicated time for self-learning. Most business owners simply don’t have that liberty. The second part that you have to do if you bought ads directly from Google is that you have to log in on a daily basis into your account and put money behind keywords. To do this efficiently, you have to know which keywords are working and which ones are not working. This again requires a significant amount of time because if you don’t know what you are doing, you can lose a lot of money without really gaining anything. With Adbot, you don’t have to do all those administrative tasks. You just fill in a one-page form which literally takes ten minutes or less, telling us where you would like to place your ads. The AI then steps in to handle everything else without overspending. What would you say is the future of online advertising in Africa? MG: I think the future of online advertising in Africa is definitely going to be more uptake of automation of campaigns, allowing business owners to focus more on the day-to-day operations of their enterprises. Additionally, I think for African businesses, the fact that internet penetration rates across the continent are steadily
Read More- June 16 2023
TechCabal launches second season of My Startup in 60 Seconds
In line with our commitment to the startup ecosystem in Africa, TechCabal has just wrapped up the second season of My Startup in 60 Seconds, our flagship video series where founders share the unique problems they are solving and why, all in less than a minute. You can watch the season on YouTube, Instagram, and Facebook. With My Startup in 60 Seconds, our aim is to cut through the noise and give you, our audience, the chance to appreciate the back stories and the lessons that come with building and leading a successful startup. This season, we featured eight innovative African founders spanning different sectors and countries. Here’s a breakdown of each episode: In the first episode, we featured Duke Ekezie, co-founder of Kippa Africa. Kippa Africa is a startup that provides a software management tool and a payment acceptance platform for businesses across Africa to improve operations and do record keeping. The second episode features Adedapo Sobayo. Sobayo is the co-founder and CTO of Moni, a startup that leverages social trust to deliver financial services to small businesses across Africa. So far, they’ve been able to help 37 million SMEs gain access to credit. For the third episode, we featured Kingsley Oti of Send, a digital freight forwarder and operating system for the supply chain. According to Kingsley, Send is a one-stop shop for customers to manage their shipments end to end, helping them evade the complexities and uncertainty of shipping. This solution was borne out of a lack of transparency in the shipping industry. In the fourth episode, we had on Bolarinwa Odupe. Odupe is cofounder of Centiiv, a blockchain solution that looks to connect Africa to the global market. In episode five, Damilola Olotu, co-founder of SendChamp. SendChamp is a startup solving user retention problems for businesses by providing a multichannel communication platform to engage and sustain their customers. For the sixth episode, we featured Olamide Adebiyi, who’s the founder of Tracc Systems, an operating system for logistics and supply chain management. According to Adebiyi, the logistics and supply chain market is fragmented and heavily manually driven, and Tracc is helping to solve this problem by providing logistics planning, visibility and analytics, among other features. The seventh episode featured Tendai Mugovi, founder of Cashlinq, a digital banking wallet software addressing financial exclusion in Zimbabwe. The eighth episode featured Kgololo Lekoma, co-founder of Credipple. Credipple is a talent marketplace connecting business owners to creative and digital professionals for remote work. We hope you learn something from the journey of these incredible founders, and that they inspire you as much as they have inspired us at TechCabal. If you missed the first season of My Startup In 60 Seconds, you can watch it here. We’ll be producing season 3 soon. If you or any found you know would like to be featured in the series, please fill out this form. What do you think about our stories? Tell us how you feel by taking this quick three-minute survey.
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- June 16 2023
Payment dates for SASSA SRD Grant R350 2023
The SRD (Social Relief of Distress) Grant R350 is a social assistance program designed to provide temporary relief to eligible South Africans facing financial hardship. This article aims to clarify the payment dates associated with the SRD Grant R350, ensuring that recipients have a clear understanding of the dates and time ranges they can expect payment. Overview of the SRD Grant R350 The SRD Grant R350 is an initiative introduced by the South African government to assist individuals who are unemployed and do not receive any other form of income or social grant. The grant provides a monthly payment of R350, which helps to alleviate the immediate financial burdens faced by vulnerable citizens. However, it is essential to comprehend the payment dates to plan accordingly and make optimal use of these funds. Now, let’s move on to knowing the payment dates for SASSA SRD 2023. Payment dates for SASSA SRD The payment dates for the SRD Grant R350 are typically determined by the South African Social Security Agency (SASSA), the organisation responsible for the administration of social grants. It is important to note that the payment dates may vary from month to month, and recipients are encouraged to stay updated through official channels. Historically, the SRD Grant R350 payments have been disbursed in batches, with specific groups receiving payments on different dates. SASSA generally announces the payment schedule for each month, outlining the dates on which the funds will be deposited into beneficiaries’ bank accounts or made available for collection at designated pay points. The latest information shows that payments have commenced for June 2023. And they go as follows: a) Older Person’s Grants Commenced Friday 2nd June 2023 b) Disability Grants Commenced Monday 5th June 2023 c) All Other SASSA Grants (inc Children’s Grant) Commenced Tuesday 6th June 2023 Methods of R350 payment upon dates SRD The SRD Grant R350 payments are usually made through electronic fund transfers into recipients’ bank accounts. Beneficiaries are required to have a South African bank account in their name to receive the funds directly. However, in special cases, where individuals do not have access to banking services, SASSA may arrange for alternative payment methods such as cash disbursements at designated pay points. That’s it about Payment dates for SASSA SRD. Final thoughts on the Payment dates for SASSA SRD Being aware of the payment dates for the SRD Grant R350 is crucial for recipients who rely on this temporary assistance. By knowing when to expect their funds, individuals can effectively plan their finances and meet their immediate needs. It is recommended that beneficiaries regularly check official announcements from SASSA or visit their website for updates on the payment schedule. Ensuring accurate information is obtained from official sources will help recipients stay informed and minimize any potential confusion or delays in receiving the SRD Grant R350.
Read More- June 16 2023
Konza city gets nearly half of ICT industry’s $110 million allocation in Kenya’s 2023 budget
The Kenyan government has allocated $110 million for the ICT industry. However, nearly half of that amount will be used to develop Konza, a green city outside Nairobi. The government is also focused on boosting connectivity across the country. Yesterday, Kenya’s cabinet secretary for treasury, Njuguna Ndung’u, presented the state’s budget for the 2023/2024 financial year. The total budget is a whopping KES 3.68 trillion ($26.7 billion), a significant increase from the previous year’s budget of KES 3.3 trillion ($24 billion). Allocations for ICT-related projects According to the cabinet secretary, digitisation and automation can increase productivity and competitiveness by making it easier to access markets, improve information flow, and manage risk. ICT services can also free workers to focus on more creative and strategic tasks. Furthermore, they can positively impact youth employment by promoting new industries such as music, theatre, graphic design, digital animation, fashion, and craft. A total of KES 15.1 billion ($109.6 million) has been allocated to fund initiatives in the ICT sector. “To promote productivity and competitiveness, a total of KES 15.1 billion has been allocated to fund initiatives in the ICT sector,” said Ndung’u. Key allocations include KES 4.8 billion ($35 million) for the Horizontal Infrastructure Phase I at Konza City, KES 1.2 billion ($8.7 million) for the Konza data centre and smart city facilities, KES 5.7 billion ($41.38 million) for the construction of Kenya Advanced Institute of Science and Technology (KAIST) at Konza Technopolis, KES 1.3 billion ($9.4 million) for the maintenance and rehabilitation of the National Optic Fibre Backbone Phase II Expansion Cable, KES 475 million ($3.4 million) for the construction of Konza Complex Phase 1 B, and KES 583 million ($4.2 million) for Last Mile County Connectivity Network. These allocations are aimed at supporting the growth and development of the ICT sector. Based on these numbers, the government will continue to pump millions into the development of Konza (nearly half the ICT allocation), a sustainable and futuristic city under construction on Nairobi’s outskirts. The city has also been receiving support from South Korea, which is also developing KAIST in collaboration with the Kenyan government. The new administration with president Ruto at the helm promised it would be committed to expanding digital connectivity. Kenya has made significant progress in this area, but some challenges remain, such as a lack of experts and an ICT infrastructure development plan. The government has built over 9,000 kilometres of terrestrial fibre optic cable and 534 kilometres of last-mile connectivity infrastructure, linking 1,650 public institutions and offices. By 2030, connectivity will grow significantly, and bandwidth requirements will increase due to big data consolidation and analytics. Other ICT highlights from the 2023 budget The Central Bank of Kenya (CBK) is collaborating with other agencies and regulators, such as the data protection commissioner’s office, to ensure that all digital credit providers are included within the regulatory framework. This collective effort aims to safeguard consumers and their interests. So far, only 32 digital credit providers have been licensed by the CBK. Two measures in the digital segment have been introduced. Firstly, a 5% withholding tax has been imposed on gross payments about digital content monetisation. Secondly, a digital asset tax has been introduced, set at 3% of the value of digital assets transferred or exchanged. READ MORE: Taxing creativity: Kenyan content creators pushback against proposed taxes Lastly, Kenya plans to facilitate instant retail payments and will launch a compatible payment platform. This platform will enable seamless transactions across banks, payment service providers, card schemes, and other regulated financial institutions. The primary goal is to reduce the cost of services, enhance options, competition, and stability, and encourage the widespread usage of digital payments among the Kenyan population. What do you think about our stories? Tell us how you feel by taking this quick 3-minute survey.
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- June 16 2023
SRD appeal filing guide for grant reconsideration 2023
The South African Social Relief of Distress (SRD) grant is designed to provide temporary financial assistance to individuals and families facing extreme hardship. However, if your SRD application has been rejected or you believe you are eligible but have been excluded, you have the right to file an appeal. In this article, we will provide a step-by-step guide on how to navigate the process of filing an SRD appeal in South Africa. 1. Understand the SRD appeal process Before initiating the appeal, it is crucial to familiarise yourself with the process. The appeal procedure allows applicants to challenge the decision made by the South African Social Security Agency (SASSA) regarding their eligibility for the SRD grant. Understanding the specific grounds for appeal, the necessary documentation, and the timeline for submitting an appeal will significantly enhance your chances of success. So the first step is to know that you are to appeal a rejection within 30 days and not exceed 90 days after when you receive SASSA’s decision. And the appeal is to the Independent Tribunal for Social Assistance Appeals (ITSAA). 2. Gather relevant documentation To strengthen your SRD appeal, it is essential to gather all relevant documentation. This includes your initial SRD application reference number, identification documents, proof of income, proof of residence, and any additional supporting evidence that demonstrates your eligibility for the grant. Gathering comprehensive and accurate documentation will strengthen your case during the appeal process. Then visit the SASSA website to see that your information correlates and update where necessary. 3. Submit your SRD appeal After updating your information, it is time to submit your appeal to SASSA. So you click save after verifying your info and you’ll be directed to the appeal page. You may be asked to provide documents and a concise reason why you feel your grant request is genuine and deserves approval. Regardless, ensure that you retain a copy of your appeal application and all supporting documentation for your records. Navigate the easy prompts of the platform then submit the appeal. 4. Monitor the progress of your SRD After submitting your SRD appeal, it is important to monitor its progress. So constantly check your status here. Please note that the response time of The Independent Tribunal ranges between 60 – 90 days from the lodging of the appeal. Stay organized by keeping records of all communications and correspondence related to your appeal. Final thoughts on SRD grant appeal filing Filing an SRD appeal in South Africa requires a clear understanding of the appeal procedure, gathering the necessary documentation, and effective communication with SASSA and The Independent Tribunal. Remember to be thorough and proactive throughout the process and seek professional advice if needed.
Read More- June 16 2023
Opportunities for e-commerce growth in Africa
This guest article was contributed to TechCabal by Osinachi Ukomadu. Introduction Chika, an African lady in her twenties, had always dreamed of owning a fashion store. Her passion drove her to learn how to set up an online clothing platform that would act as an interface between her and her target audience. Being a meticulous person, Chika spent several months researching the best local designers she could work with. Unfortunately, this wasn’t the only challenge she had to grapple with. Chika’s business was growing fast, and soon her small apartment couldn’t handle the storage demands of her business. What could she do? She opted for independent warehousing. Luckily, she found a company online that offered to store her inventory and fulfill her orders for a small fee. Problem solved. Soon, she faced another challenge—this time, handling her returns. Because her business was still growing, Chika didn’t have a refined process to handle returns. As a result, she was spending a lot of productive time dealing with processing returns. Seeking a solution to this problem, she reached out to a more established online vendor who told her about a return management company that would help her reduce her workload by picking up items from customers and delivering them to her directly. Now, Chika doesn’t have to worry about her customers who need to return items to her. The return management company does it all and she can focus on handling orders. Delivery has always been one of the biggest challenges faced by SMEs within the online space in different parts of Africa—and Chika was not exempt. Many of her orders were either getting delayed or missing in traffic. This wasn’t good for her reputation. She had to find a local logistics company with a specialty in last-mile delivery. Now, delivery was faster, more affordable, and she could serve her growing list of customers better. In the end, the key to unlocking Chika’s business potential and solving her problems was staying abreast of the latest innovations and opportunities available within the African e-commerce industry. Key opportunities within the African e-commerce space When entrepreneurs, like Chika, are open to new ideas and solutions, they are better equipped to provide more value to their end users and other businesses. In a previous article, I discussed the current drivers of growth and highlighted the potential for collaboration among players in the industry. In this article, we discuss such opportunities in detail. A major peculiarity of these opportunities is that they are evolving. These opportunities are like an API service, where you stitch different services together to build a full service. Here, you don’t have to do everything but depend on various parties to solve different parts of the problem. Some of the opportunities include but are not limited to: Independent warehousing Refined return process Last-mile delivery Independent warehousing Independent warehousing is an arrangement where independent proprietors own warehouses instead of e-commerce companies. For example, did you know that some of Amazon’s warehouses in the US are not completely owned by Amazon? Some of the buildings were leased to Amazon. Most of them are owned by a company called Prologis. The company builds these warehouses and leases them to Amazon. Amazon brings in the operations that run the warehouse. It means that Amazon doesn’t need to spend money building warehouses everywhere. This also plays out in the hospitality industry, where companies develop the physical buildings, and management companies handle the daily operations of such facilities. In the fictional story you read earlier, Chika needed help storing her orders before dispatch. An independent warehouse sorted the issue out easily as she only needed to lease the space when she had lots of orders with no storage space in her home. This cost her far less than building a warehouse from scratch or leasing one that would remain fallow when she didn’t have a need for it. E-commerce players are beginning to move away from the one-size-fits-all approach or the one-company-solves-every-problem approach. Early e-commerce players had to build out everything because the proper infrastructure was not in place. But as time progresses, we are beginning to see other players break down the various parts, handling different challenges with the supply chain of specific industries, and focusing only on those niches. Take, for instance, the AWS model, which lowers the barrier of entry for startups. Before now, if you needed to build a software company, you had to obtain a well-ventilated building with a lot of cool air, get an electrician who will wire your space to allow you to bring the kind of heavy equipment that you need, buy a bunch of service racks, and hire networking personnel. Today, nobody has to do that; you just need to sign up on AWS and get your startup running. It will be the same for e-commerce businesses as we move along. Refined return process Recently, DoorDash, an online food delivery company in the US, began partnering with e-commerce companies to handle returns. Returns are a huge component of e-commerce in the US, and the challenge for most customers is that they have to go back to the store where they bought an item to return it or go to the post office to drop it off. Truth be told, most customers would hardly ever go through with the process. They prefer conveniently returning such items. This means they just want to drop the package in front of their houses and have someone pick it up. DoorDash is doing exactly that as a service. They will pick up returns from people’s homes and get them back to the merchants where the purchase was made. We can have last-mile businesses that decide to focus on returns. They can help businesses go anywhere their returns are and pick them up. This has the potential to transform e-commerce. While this solution is not so rampant in many parts of Africa yet, companies are already seeing the opportunity that lies in seizing the opportunity. Like
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- June 16 2023
TechCabal Daily – More funds for Hustlers
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية TGIF Shameless promo: Over 10 people have reached the leaderboard for our referral programme, and half of them have qualified for Showmax subscriptions and mobile money. You can too, just scroll down and share your unique link. If you’ve referred people this week, please check your inbox for details on your prize. Also, remember to ask your network to confirm their subscriptions. If you have any more questions about the referral programme, check our FAQ page or email us at newsletter@techcabal.com. In today’s edition Ruto’s Hustler Fund gets more funding Google warns employees against using chatbots SA postpones analogue switch-off date, again Funding tracker The World Wide Web3 Event: Africa Tech Summit London Job openings Economy Ruto’s Hustlers Fund gets $72 million more President Ruto’s Hustlers Fund has hustled its way into Kenya’s 2023/2024 budget. The Kenyan government announced its allocation of Ksh.10 billion ($72 million) to the Hustler Fund to support entrepreneurial efforts. President William Ruto of Kenya What is the Hustlers Fund about? President William Ruto launched the Hustlers Fund in November 2022 with the aim of providing loans to small businesses in the country that have faced challenges in accessing funding from local banks. The second phase of the Hustlers Fund was launched in June 2023, targeting registered investment groups and savings and credit cooperative societies. How much has been disbursed so far? While presenting his inaugural budget in the Kenya Kwanza government, treasury cabinet secretary, Njuguna Ndung’u, revealed that Ksh30.8 billion ($220.1 million) has been borrowed from the Hustlers Fund. Also, a total of 16 million Kenyans, of which 7.1 million are repeat customers, have accessed the fund. Zoom Out: The government has experienced remarkable growth in transactions, with a total of 43.5 million transactions recorded. The fund has also been a success. “The largest number a single customer borrower has borrowed from the Hustler’s Fund is about 50 times,” said Ndung’u. Moniepoint ranked 2nd fastest-growing African company Moniepoint is Africa’s second-fastest growing company, as shown in FTs latest report. We also processed 1 billion transactions worth $43 billion in Q1 alone. Read all about it here. AI Google cautions employees about using chatbots Google has warned its employees to not share confidential information with talking bots! According to four sources familiar with the matter, Google is simultaneously warning its employees about using chatbots, including its own Bard, while promoting the programme globally. This includes discouraging engineers from directly employing computer-generated code that chatbots can generate. Image source: Zikoko Memes What are AI chatbots? Chatbots like Bard and ChatGPT use AI to engage in human-like conversations and respond to various prompts. They can answer questions and generate text. However, researchers found that these chatbots can also reproduce data they were trained on, which could lead to data leaks. Why the sudden concern? Google’s concern highlights its intention to mitigate potential business risks arising from its software—Bard—which directly competes with ChatGPT. The competition between Google and the backers of ChatGPT, OpenAI and Microsoft Corp, is not only about billions of dollars in investment but also about the substantial revenue generated from advertising and cloud services tied to new AI programmes. The exact magnitude of this revenue is yet to be determined. Zoom out: Google also informed Reuters that it has engaged in thorough discussions with Ireland’s Data Protection Commission and is actively responding to inquiries from regulators. This comes after a report by Politico on Tuesday stated that the company had postponed the launch of Bard in the European Union for this week, over privacy concerns. Streaming SA pushes back television analogue switch-off date Image source: Google South Africa’s minister of communications, Mondli Gungubele, has announced that the analogue switch-off date, which would mean that all analogue television sets would no longer be supported, has been pushed back once again. The minister published a notice in the government gazette on Thursday saying all analogue broadcasters using bands above 694MHz must vacate those frequencies by no later than July 31. Final switch off: Gungubele also stated that all analogue signals would be switched off no later than December 31, 2024, meaning that not only would broadcasters not be able to broadcast the signals, but end users would also not be able to receive them. In 2022, experts estimated that over 8 million South Africans would lose access to television if the switch-off was effected. Zoom out: According to the International Telecommunication Union, which South Africa is a part of, the switch off, which is meant to improve the quality of broadcast, should have happened by July 2015, meaning the country is almost a decade late to the party. Learn Product Design with Wild Fusion Join the next Product Design Cohort with Wild Fusion starting from June 20, 2023 by calling 08130807750 or sign up here TC Insights Funding Tracker Image source: Ayomide Agbaje/TechCabal This week, Nigerian communications-as-a-service startup, Termii, raised $3.65 million in pre-seed funding. The round was led by Fintech Collective and Ventures Platform; other participating investors include Launch Africa Ventures, Nama Ventures, Aidi Ventures, Ralicap Ventures, Now Venture Partners, Vastly Valuable Ventures, NOA Capital, and others. Here are the other deals closed: Egyptian logistics company, Trella, received $3.5 million in an undisclosed funding round from private equity fund, Avanz Capital Egypt. South African agri-tech company, Maltento, raised $3.3 million in an undisclosed funding round from Sand River Venture Capital. Nigerian logistics company, Messenger, raised an undisclosed amount in pre-seed funding. The round was led by Nama Ventures, with participation from Aidi Ventures and other angels. That’s all for this week! Follow us on Twitter, Instagram, and LinkedIn for more funding announcements. You can also visit DealFlow, our real-time funding tracker. Crypto Tracker The World Wide Web3 Source: Coin Name Current Value Day Month Bitcoin $25,474 + 1.90% – 6.14% Ether $1,688 + 1.31% – 8.41% BNB $237 + 0.54% – 23.84% Solana $14.82 + 0.22% – 29.10% * Data as of 06:20 AM WAT, June 16,
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- June 15 2023
Get synthetics monitoring to work in New Relic 2023
In the fast-paced world of technology, website performance and availability play a vital role in maintaining a positive user experience. To ensure your online presence is running smoothly, synthetic monitoring is an indispensable tool. New Relic, a leading application performance monitoring (APM) platform, offers powerful features for monitoring and analyzing web applications. So get set as we guide you through the process of getting synthetics monitoring to work in New Relic, enabling you to proactively monitor your application’s availability and performance. 1. Setting up a New Relic account On how to get synthetics monitoring to work in New Relic, you need to start by creating an account on the New Relic platform if you haven’t already. Visit the New Relic website and sign up for an account. Once you have registered, you can access the New Relic dashboard and proceed with configuring synthetics monitoring. 2. Navigating to synthetics In the New Relic dashboard, locate the “Synthetics” tab and click on it. This section is specifically designed for monitoring the availability and performance of your applications through synthetic monitoring. 3. How to get synthetics monitoring to work in New Relic To create a new synthetic and get its monitoring to work in New Relic, click on the “Monitors” tab within the Synthetics section. Then, select the “New Monitor” button to begin the setup process. Here, you can define the type of monitor you wish to create, such as a simple ping monitor or a more advanced scripted browser monitor. 4. Configuring monitor settings After selecting the monitor type, you will be prompted to configure various settings. This includes defining the monitor’s name, frequency, locations from which the monitor will run, and the expected response code or content. While you’re trying to get synthetics monitoring to work in New Relic, take care to tailor these settings to match your application’s specific requirements. 5. Scripted browser monitoring For more complex scenarios when trying to get synthetics monitoring to work in New Relic, scripted browser monitoring allows you to simulate user interactions and test specific workflows. In this mode, you can record a script using New Relic’s browser automation capabilities. This enables you to replicate user actions such as form submissions, clicks, and scrolling, providing valuable insights into your application’s performance from an end-user perspective. 6. Alerting and notifications Speaking more on how to get synthetics monitoring to work in New Relic, one of the primary purposes of synthetics monitoring is to promptly notify you of any application issues. New Relic allows you to configure alerts based on specific conditions, such as a failed monitor or a performance threshold breach. By setting up notifications, you can ensure that the right stakeholders are informed via email, SMS, or other communication channels when critical events occur. 7. Analysing synthetic data In the Synthetics section of the New Relic dashboard, you will find an array of reports and visualizations to help you analyse the data collected by your synthetic monitors. These insights can help identify patterns, performance bottlenecks, and areas for improvement within your application. 8. Integrations and collaboration New Relic offers integrations with various collaboration tools, such as Slack and Jira, allowing you to streamline incident management and communicate effectively with your team. Explore these integrations to facilitate seamless collaboration when addressing application issues. 9. Continuous monitoring and iteration After you learn how to get synthetics monitoring to work in New Relic, it doesn’t end there. Synthetics monitoring is an ongoing process that requires continuous monitoring and iteration. As your application evolves, it is essential to review and update your synthetic monitors accordingly. So, regularly assess the performance thresholds, expected responses, and user workflows to ensure your monitoring remains effective. Final thoughts on how to get synthetics monitoring to work in New Relic In the modern digital landscape, synthetics monitoring has become indispensable for proactive application performance management. By following the steps outlined in this guide, you can successfully set up synthetics monitoring in New Relic, enabling you to monitor your application’s availability and performance. Leverage the power of synthetic monitoring to gain valuable insights, proactively identify issues, and deliver a seamless user experience on your website or web application. That’s it about how to get synthetics monitoring to work in New Relic.
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