- April 18 2023
How digital identity can boost the African banking industry
Noel K. Tshiani is the founder of Congo Business Network, which works with startups, corporations, and government institutions in the Democratic Republic of Congo with the goal of contributing to economic development. The organization put together a delegation made up of startups and government representatives to participate in the Africa Fintech Summit last week in Washington DC. Digital identity is a key enabler of financial inclusion and economic development. It can help to verify the identity of individuals, making it easier for them to access banking services, government benefits, and other digital services without having to visit a physical location. The digital revolution has brought numerous benefits to Africa, including access to internet services and online shopping. But the adoption and use of digital identity in Africa have been slow, hindering progress towards fully embracing the digital economy. The factors hindering this progress include: 1. High cost The cost of implementing and maintaining a digital identity system can be high, especially for governments and small businesses. Developing the system, collecting and storing data, and providing access to users can raise significant costs. Financial difficulties can be a major barrier for governments and businesses that are already struggling to pay other monthly expenses. 2. Lack of awareness and digital literacy Many people in Africa are not aware of the benefits of digital identity or how to use it and as such do not demand digital identity systems from their governments or businesses. And without demand, there is no pressure on governments and businesses to invest in digital systems and eschew paper-based documentation such as voter registration cards. Furthermore, many Africans lack the technical skills required to use digital identity tools effectively. As such, education and training programs are needed to ensure that people are equipped with the skills they need to properly utilise these tools. 3. Privacy concerns Some people are concerned about the privacy implications of digital identity. Due to the worry that their personal information could be used for identity theft or other crimes, they are hesitant to share their personal details online. There is also a lack of trust in governments and private entities to protect personal information adequately. Addressing these concerns will require robust data protection legislation, as well as transparency and accountability mechanisms to ensure that personal information is stored and used appropriately. 4. Technology challenges Some areas in Africa have limited access to electricity and the internet, making it difficult to implement and use digital identity systems, which usually require a reliable power supply and an internet connection. Despite these challenges, there is a growing need for the adoption of digital identity in Africa. Addressing these challenges will require collaboration between governments, the private sector, and the general public to develop a comprehensive strategy that promotes the benefits of digital identity while protecting individual rights and privacy.Growing the banking industry and advancing financial inclusion in Africa require these obstacles to be addressed as a priority because digital identity will become increasingly important for banks to provide the best possible service to their customers. By providing a secure and reliable way to verify the identity of customers, digital identity can help banks to reduce fraud, increase customer satisfaction, and expand their reach to new markets.In conclusion, while digital identity has the potential to transform the way people in Africa access services and participate in the digital economy, several challenges must be addressed to ensure widespread adoption. High costs, low levels of digital literacy, and privacy concerns are all significant obstacles that must be overcome.
Read More- April 18 2023
Meta to cut ties with its content moderators in Kenya
Meta, the parent company of Facebook and Instagram, has received an order from Kenya’s Employment and Labour Relations Court to cut ties with Sama and Majorel, its main content moderators in the country. This complicates Meta’s position as the defendant of a lawsuit last month, initiated by a group of 43 content moderators, who are accusing Meta and its partners of allegedly discriminating against them and enforcing unlawful dismissals. The group of content moderators are ex-employees of Sama, a content moderation partner that’s worked with Meta since 2019. They comprised the 260-strong workforce that Meta and Sama planned to lay off in Q1 of 2023. But last month, a Kenyan court stopped the layoffs from happening. Time reported in March that Majorel, Meta’s replacement for Sama and TikTok’s content moderation partner, is just as toxic to its workers as Sama was. The report stated that Majorel offers ”a fraction of the [Sama’s] pay and [subjects workers to] worse living conditions.” Kenya’s court subsequently barred Meta from engaging Majorel’s services, a move that came on the back of the group’s lawsuit. The recent court orders have directed Meta not to engage third parties “through employment, subcontracting, or any manner whatsoever, content moderators to serve the Eastern and Southern African region through the 4th respondent (Majorel) or through any other agent, partner or representative, or in any manner whatsoever, engaging moderators to do the work currently being done by the moderators engaged through the 3rd respondent (Sama) pending the hearing of this application.” The court also maintained that Meta must engage only Sama for its content moderation needs in sub-Saharan Africa. According to a TechCrunch report, Majorel is decrying the court order restricting Meta from using its services, maintaining that such a move will adversely affect its business since it has already set up a hub and recruited hundreds of content moderators. “For as long as the interim orders made by the court preventing it from performing the content moderation projection remain in place, that the revenue it expected to cover the investments made by the 4th Petitioner (Majorel) is at risk and may be lost,” Sven Alfons A De Cauter, Majorel director, said in a court affidavit. On the other hand, Sama explained that its contract with Meta had expired, and it is accruing a huge wage bill keeping the moderators with no job. According to them, the expired contract with Meta—without a subsequent re-engagement—means there are no new roles for these moderators to fill. Meta finds a new and unknown partner As Majorel and Sama await results from their separate petitions, Meta has employed the services of another content moderation partner for its Kenyan market, fuelling contempt of court claims by petitioners. A Meta spokesperson said Meta is working with “global partners.” In the past, Sama and Majorel had to fire content moderators all over the continent, citing an inability to properly sift through content written in local languages. Considering this, Meta’s claims of having “global partners” begs the question of whether these partners are armed with enough personnel with a nuanced understanding of local African languages.
Read More- April 18 2023
Meta to cut ties with its content moderators in Kenya
Meta, the parent company of Facebook and Instagram, has received an order from Kenya’s Employment and Labour Relations Court to cut ties with Sama and Majorel, its main content moderators in the country. This complicates Meta’s position as the defendant of a lawsuit last month, initiated by a group of 43 content moderators, who are accusing Meta and its partners of allegedly discriminating against them and enforcing unlawful dismissals. The group of content moderators are ex-employees of Sama, a content moderation partner that’s worked with Meta since 2019. They comprised the 260-strong workforce that Meta and Sama planned to lay off in Q1 of 2023. But last month, a Kenyan court stopped the layoffs from happening. Time reported in March that Majorel, Meta’s replacement for Sama and TikTok’s content moderation partner, is just as toxic to its workers as Sama was. The report stated that Majorel offers ”a fraction of the [Sama’s] pay and [subjects workers to] worse living conditions.” Kenya’s court subsequently barred Meta from engaging Majorel’s services, a move that came on the back of the group’s lawsuit. The recent court orders have directed Meta not to engage third parties “through employment, subcontracting, or any manner whatsoever, content moderators to serve the Eastern and Southern African region through the 4th respondent (Majorel) or through any other agent, partner or representative, or in any manner whatsoever, engaging moderators to do the work currently being done by the moderators engaged through the 3rd respondent (Sama) pending the hearing of this application.” The court also maintained that Meta must engage only Sama for its content moderation needs in sub-Saharan Africa. According to a TechCrunch report, Majorel is decrying the court order restricting Meta from using its services, maintaining that such a move will adversely affect its business since it has already set up a hub and recruited hundreds of content moderators. “For as long as the interim orders made by the court preventing it from performing the content moderation projection remain in place, that the revenue it expected to cover the investments made by the 4th Petitioner (Majorel) is at risk and may be lost,” Sven Alfons A De Cauter, Majorel director, said in a court affidavit. On the other hand, Sama explained that its contract with Meta had expired, and it is accruing a huge wage bill keeping the moderators with no job. According to them, the expired contract with Meta—without a subsequent re-engagement—means there are no new roles for these moderators to fill. Meta finds a new and unknown partner As Majorel and Sama await results from their separate petitions, Meta has employed the services of another content moderation partner for its Kenyan market, fuelling contempt of court claims by petitioners. A Meta spokesperson said Meta is working with “global partners.” In the past, Sama and Majorel had to fire content moderators all over the continent, citing an inability to properly sift through content written in local languages. Considering this, Meta’s claims of having “global partners” begs the question of whether these partners are armed with enough personnel with a nuanced understanding of local African languages.
Read More- April 18 2023
Meta to cut ties with its content moderators in Kenya
Meta, the parent company of Facebook and Instagram, has received an order from Kenya’s Employment and Labour Relations Court to cut ties with Sama and Majorel, its main content moderators in the country. This complicates Meta’s position as the defendant of a lawsuit last month, initiated by a group of 43 content moderators, who are accusing Meta and its partners of allegedly discriminating against them and enforcing unlawful dismissals. The group of content moderators are ex-employees of Sama, a content moderation partner that’s worked with Meta since 2019. They comprised the 260-strong workforce that Meta and Sama planned to lay off in Q1 of 2023. But last month, a Kenyan court stopped the layoffs from happening. Time reported in March that Majorel, Meta’s replacement for Sama and TikTok’s content moderation partner, is just as toxic to its workers as Sama was. The report stated that Majorel offers ”a fraction of the [Sama’s] pay and [subjects workers to] worse living conditions.” Kenya’s court subsequently barred Meta from engaging Majorel’s services, a move that came on the back of the group’s lawsuit. The recent court orders have directed Meta not to engage third parties “through employment, subcontracting, or any manner whatsoever, content moderators to serve the Eastern and Southern African region through the 4th respondent (Majorel) or through any other agent, partner or representative, or in any manner whatsoever, engaging moderators to do the work currently being done by the moderators engaged through the 3rd respondent (Sama) pending the hearing of this application.” The court also maintained that Meta must engage only Sama for its content moderation needs in sub-Saharan Africa. According to a TechCrunch report, Majorel is decrying the court order restricting Meta from using its services, maintaining that such a move will adversely affect its business since it has already set up a hub and recruited hundreds of content moderators. “For as long as the interim orders made by the court preventing it from performing the content moderation projection remain in place, that the revenue it expected to cover the investments made by the 4th Petitioner (Majorel) is at risk and may be lost,” Sven Alfons A De Cauter, Majorel director, said in a court affidavit. On the other hand, Sama explained that its contract with Meta had expired, and it is accruing a huge wage bill keeping the moderators with no job. According to them, the expired contract with Meta—without a subsequent re-engagement—means there are no new roles for these moderators to fill. Meta finds a new and unknown partner As Majorel and Sama await results from their separate petitions, Meta has employed the services of another content moderation partner for its Kenyan market, fuelling contempt of court claims by petitioners. A Meta spokesperson said Meta is working with “global partners.” In the past, Sama and Majorel had to fire content moderators all over the continent, citing an inability to properly sift through content written in local languages. Considering this, Meta’s claims of having “global partners” begs the question of whether these partners are armed with enough personnel with a nuanced understanding of local African languages.
Read More- April 18 2023
Meta to cut ties with its content moderators in Kenya
Meta, the parent company of Facebook and Instagram, has received an order from Kenya’s Employment and Labour Relations Court to cut ties with Sama and Majorel, its main content moderators in the country. This complicates Meta’s position as the defendant of a lawsuit last month, initiated by a group of 43 content moderators, who are accusing Meta and its partners of allegedly discriminating against them and enforcing unlawful dismissals. The group of content moderators are ex-employees of Sama, a content moderation partner that’s worked with Meta since 2019. They comprised the 260-strong workforce that Meta and Sama planned to lay off in Q1 of 2023. But last month, a Kenyan court stopped the layoffs from happening. Time reported in March that Majorel, Meta’s replacement for Sama and TikTok’s content moderation partner, is just as toxic to its workers as Sama was. The report stated that Majorel offers ”a fraction of the [Sama’s] pay and [subjects workers to] worse living conditions.” Kenya’s court subsequently barred Meta from engaging Majorel’s services, a move that came on the back of the group’s lawsuit. The recent court orders have directed Meta not to engage third parties “through employment, subcontracting, or any manner whatsoever, content moderators to serve the Eastern and Southern African region through the 4th respondent (Majorel) or through any other agent, partner or representative, or in any manner whatsoever, engaging moderators to do the work currently being done by the moderators engaged through the 3rd respondent (Sama) pending the hearing of this application.” The court also maintained that Meta must engage only Sama for its content moderation needs in sub-Saharan Africa. According to a TechCrunch report, Majorel is decrying the court order restricting Meta from using its services, maintaining that such a move will adversely affect its business since it has already set up a hub and recruited hundreds of content moderators. “For as long as the interim orders made by the court preventing it from performing the content moderation projection remain in place, that the revenue it expected to cover the investments made by the 4th Petitioner (Majorel) is at risk and may be lost,” Sven Alfons A De Cauter, Majorel director, said in a court affidavit. On the other hand, Sama explained that its contract with Meta had expired, and it is accruing a huge wage bill keeping the moderators with no job. According to them, the expired contract with Meta—without a subsequent re-engagement—means there are no new roles for these moderators to fill. Meta finds a new and unknown partner As Majorel and Sama await results from their separate petitions, Meta has employed the services of another content moderation partner for its Kenyan market, fuelling contempt of court claims by petitioners. A Meta spokesperson said Meta is working with “global partners.” In the past, Sama and Majorel had to fire content moderators all over the continent, citing an inability to properly sift through content written in local languages. Considering this, Meta’s claims of having “global partners” begs the question of whether these partners are armed with enough personnel with a nuanced understanding of local African languages.
Read More- April 18 2023
Autochek acquires majority stake in Egypt’s AutoTager
Autochek, a Nigerian automotive technology company, has acquired a majority stake in AutoTager, an Egyptian automotive technology company, to establish its presence in Egypt. This is the second acquisition Autochek has made in North Africa, after acquiring Moroccan KIFAL Autos last year. It is also Autochek’s sixth acquisition in two years, expanding its footprint to East, West, and North Africa. The company now has active operations in nine countries, with a partner-led footprint of more than 2,000 dealers and workshop locations. AutoTager, a venture-backed startup, provides Egyptians with access to vetted vehicles and financing options while connecting dealers with buyers and providing technology solutions to improve their operations. Autochek expands into North Africa, acquires Morocco’s KIFAL Auto Egypt is the third-largest economy in Africa and the second-largest passenger car market, making it a strategic market for a car-financing service. In 2021, over 215,000 cars were sold in Egypt, creating thousands of jobs. The country’s strategic position and large population have created a large demand for cars and auto financing solutions. Autochek hopes to leverage its partnership with several banks to provide Egyptians with the infrastructure to make car ownership more accessible and affordable. Speaking on the acquisition, Olajide Adamolekun, Autochek’s CFO and co-founder, said, “There are many parallels between Autochek and AutoTager, and we are looking forward to building on these parallels to deliver more growth and success in the months and years to come.” Autochek acquires CoinAfrique to accelerate expansion across francophone Africa AutoTager’s CEO, Amr Rezk, will still lead the company. “We are thrilled to partner with Autochek to pursue several sizable and unique opportunities in the automotive space. Autochek has deep automotive expertise and brings a proven playbook and several all-weather strategies that have been tested and validated in multiple complex high-growth markets,” Rezk said.” The company’s track record of concurrently operating various business models in the automotive space is stellar and provides us with a wide menu of options and cutting-edge tools to offer AutoTager’s customers a truly unique proposition. We have very exciting plans and are confident that the global OEM and financing partnerships that Autochek has secured will also provide us with differentiated access, allowing us to lead in our space while targeting high-quality top decile returns.”
Read More- April 18 2023
Autochek acquires majority stake in Egypt’s AutoTager
Autochek, a Nigerian automotive technology company, has acquired a majority stake in AutoTager, an Egyptian automotive technology company, to establish its presence in Egypt. This is the second acquisition Autochek has made in North Africa, after acquiring Moroccan KIFAL Autos last year. It is also Autochek’s sixth acquisition in two years, expanding its footprint to East, West, and North Africa. The company now has active operations in nine countries, with a partner-led footprint of more than 2,000 dealers and workshop locations. AutoTager, a venture-backed startup, provides Egyptians with access to vetted vehicles and financing options while connecting dealers with buyers and providing technology solutions to improve their operations. Autochek expands into North Africa, acquires Morocco’s KIFAL Auto Egypt is the third-largest economy in Africa and the second-largest passenger car market, making it a strategic market for a car-financing service. In 2021, over 215,000 cars were sold in Egypt, creating thousands of jobs. The country’s strategic position and large population have created a large demand for cars and auto financing solutions. Autochek hopes to leverage its partnership with several banks to provide Egyptians with the infrastructure to make car ownership more accessible and affordable. Speaking on the acquisition, Olajide Adamolekun, Autochek’s CFO and co-founder, said, “There are many parallels between Autochek and AutoTager, and we are looking forward to building on these parallels to deliver more growth and success in the months and years to come.” Autochek acquires CoinAfrique to accelerate expansion across francophone Africa AutoTager’s CEO, Amr Rezk, will still lead the company. “We are thrilled to partner with Autochek to pursue several sizable and unique opportunities in the automotive space. Autochek has deep automotive expertise and brings a proven playbook and several all-weather strategies that have been tested and validated in multiple complex high-growth markets,” Rezk said.” The company’s track record of concurrently operating various business models in the automotive space is stellar and provides us with a wide menu of options and cutting-edge tools to offer AutoTager’s customers a truly unique proposition. We have very exciting plans and are confident that the global OEM and financing partnerships that Autochek has secured will also provide us with differentiated access, allowing us to lead in our space while targeting high-quality top decile returns.”
Read More- April 18 2023
Autochek acquires majority stake in Egypt’s AutoTager
Autochek, a Nigerian automotive technology company, has acquired a majority stake in AutoTager, an Egyptian automotive technology company, to establish its presence in Egypt. This is the second acquisition Autochek has made in North Africa, after acquiring Moroccan KIFAL Autos last year. It is also Autochek’s sixth acquisition in two years, expanding its footprint to East, West, and North Africa. The company now has active operations in nine countries, with a partner-led footprint of more than 2,000 dealers and workshop locations. AutoTager, a venture-backed startup, provides Egyptians with access to vetted vehicles and financing options while connecting dealers with buyers and providing technology solutions to improve their operations. Autochek expands into North Africa, acquires Morocco’s KIFAL Auto Egypt is the third-largest economy in Africa and the second-largest passenger car market, making it a strategic market for a car-financing service. In 2021, over 215,000 cars were sold in Egypt, creating thousands of jobs. The country’s strategic position and large population have created a large demand for cars and auto financing solutions. Autochek hopes to leverage its partnership with several banks to provide Egyptians with the infrastructure to make car ownership more accessible and affordable. Speaking on the acquisition, Olajide Adamolekun, Autochek’s CFO and co-founder, said, “There are many parallels between Autochek and AutoTager, and we are looking forward to building on these parallels to deliver more growth and success in the months and years to come.” Autochek acquires CoinAfrique to accelerate expansion across francophone Africa AutoTager’s CEO, Amr Rezk, will still lead the company. “We are thrilled to partner with Autochek to pursue several sizable and unique opportunities in the automotive space. Autochek has deep automotive expertise and brings a proven playbook and several all-weather strategies that have been tested and validated in multiple complex high-growth markets,” Rezk said.” The company’s track record of concurrently operating various business models in the automotive space is stellar and provides us with a wide menu of options and cutting-edge tools to offer AutoTager’s customers a truly unique proposition. We have very exciting plans and are confident that the global OEM and financing partnerships that Autochek has secured will also provide us with differentiated access, allowing us to lead in our space while targeting high-quality top decile returns.”
Read More- April 18 2023
Autochek acquires majority stake in Egypt’s AutoTager
Autochek, a Nigerian automotive technology company, has acquired a majority stake in AutoTager, an Egyptian automotive technology company, to establish its presence in Egypt. This is the second acquisition Autochek has made in North Africa, after acquiring Moroccan KIFAL Autos last year. It is also Autochek’s sixth acquisition in two years, expanding its footprint to East, West, and North Africa. The company now has active operations in nine countries, with a partner-led footprint of more than 2,000 dealers and workshop locations. AutoTager, a venture-backed startup, provides Egyptians with access to vetted vehicles and financing options while connecting dealers with buyers and providing technology solutions to improve their operations. Autochek expands into North Africa, acquires Morocco’s KIFAL Auto Egypt is the third-largest economy in Africa and the second-largest passenger car market, making it a strategic market for a car-financing service. In 2021, over 215,000 cars were sold in Egypt, creating thousands of jobs. The country’s strategic position and large population have created a large demand for cars and auto financing solutions. Autochek hopes to leverage its partnership with several banks to provide Egyptians with the infrastructure to make car ownership more accessible and affordable. Speaking on the acquisition, Olajide Adamolekun, Autochek’s CFO and co-founder, said, “There are many parallels between Autochek and AutoTager, and we are looking forward to building on these parallels to deliver more growth and success in the months and years to come.” Autochek acquires CoinAfrique to accelerate expansion across francophone Africa AutoTager’s CEO, Amr Rezk, will still lead the company. “We are thrilled to partner with Autochek to pursue several sizable and unique opportunities in the automotive space. Autochek has deep automotive expertise and brings a proven playbook and several all-weather strategies that have been tested and validated in multiple complex high-growth markets,” Rezk said.” The company’s track record of concurrently operating various business models in the automotive space is stellar and provides us with a wide menu of options and cutting-edge tools to offer AutoTager’s customers a truly unique proposition. We have very exciting plans and are confident that the global OEM and financing partnerships that Autochek has secured will also provide us with differentiated access, allowing us to lead in our space while targeting high-quality top decile returns.”
Read More- April 18 2023
Autochek acquires majority stake in Egypt’s AutoTager
Autochek, a Nigerian automotive technology company, has acquired a majority stake in AutoTager, an Egyptian automotive technology company, to establish its presence in Egypt. This is the second acquisition Autochek has made in North Africa, after acquiring Moroccan KIFAL Autos last year. It is also Autochek’s sixth acquisition in two years, expanding its footprint to East, West, and North Africa. The company now has active operations in nine countries, with a partner-led footprint of more than 2,000 dealers and workshop locations. AutoTager, a venture-backed startup, provides Egyptians with access to vetted vehicles and financing options while connecting dealers with buyers and providing technology solutions to improve their operations. Autochek expands into North Africa, acquires Morocco’s KIFAL Auto Egypt is the third-largest economy in Africa and the second-largest passenger car market, making it a strategic market for a car-financing service. In 2021, over 215,000 cars were sold in Egypt, creating thousands of jobs. The country’s strategic position and large population have created a large demand for cars and auto financing solutions. Autochek hopes to leverage its partnership with several banks to provide Egyptians with the infrastructure to make car ownership more accessible and affordable. Speaking on the acquisition, Olajide Adamolekun, Autochek’s CFO and co-founder, said, “There are many parallels between Autochek and AutoTager, and we are looking forward to building on these parallels to deliver more growth and success in the months and years to come.” Autochek acquires CoinAfrique to accelerate expansion across francophone Africa AutoTager’s CEO, Amr Rezk, will still lead the company. “We are thrilled to partner with Autochek to pursue several sizable and unique opportunities in the automotive space. Autochek has deep automotive expertise and brings a proven playbook and several all-weather strategies that have been tested and validated in multiple complex high-growth markets,” Rezk said.” The company’s track record of concurrently operating various business models in the automotive space is stellar and provides us with a wide menu of options and cutting-edge tools to offer AutoTager’s customers a truly unique proposition. We have very exciting plans and are confident that the global OEM and financing partnerships that Autochek has secured will also provide us with differentiated access, allowing us to lead in our space while targeting high-quality top decile returns.”
Read More