Data centre infrastructure: An exclusive interview with Raxio Group’s Bhavik Pattni and Yannick Sukakumu
Yannick Sukakumu and Bhavik Pattni are players in the data centre industry in Africa. In this exclusive interview for TechCabal, they discuss with Noel K. Tshiani, founder of Congo Business Network. Sukakumu, who holds the role of country manager in Kinshasa, and Pattni, performing duties as the head of corporate and business development for the Raxio Group in Dubai, share their valuable insights and extensive experiences navigating the dynamic data centre business in the Democratic Republic of Congo and across the African continent. As the head of corporate and business development at Raxio Group, can you share with me the company’s overall vision and mission to drive Africa’s digital economy through carrier-neutral colocation data centres? Bhavik Pattni: We have a bold mission to lead digital transformation in our markets by sustainably providing world-class infrastructure that enables organisations to grow and reach their full potential. We do this by building and operating state-of-the-art data centres in key metro areas across the continent. These data centres are often the first of their kind in these countries and house mission-critical digital infrastructure for local public and private sector organisations and global enterprises. We help these organisations expand into new markets, reduce their total cost of ownership, and ultimately provide better service to their customers. Raxio Group has expanded its operations to several countries in Africa, including Uganda, Ethiopia, the Democratic Republic of Congo, and Mozambique. Can you tell our readers about your company’s impact and achievements in these regions, particularly in terms of empowering local businesses and driving digital transformation? BP: Yes, we are now present in seven markets across the continent: Uganda, Ethiopia, the Democratic Republic of Congo, Mozambique, Côte d’Ivoire, Angola, and Tanzania. We are proud to play the role of first mover in these markets by providing much needed Tier III certified data centres. The impact of our work is being felt today, but will be felt for years to come as these markets continue to develop. In most cases, the latter is difficult to quantify. We work with local companies from the earliest stages of development. From site acquisition to construction, we rely on highly skilled local companies to help us build our facilities on time and to specification. There is a great deal of knowledge transfer in this process that will benefit employees of these companies and their future work. This development process has also had a positive impact on job creation. In each market, we estimate that we will create hundreds of jobs, particularly during the construction phase, and potentially thousands as new businesses are created as a result of our data centre. All our facilities are managed by a fully local team of highly proficient information technology professionals, whom we equip with industry-standard training, thereby equating their expertise with their counterparts in more developed markets. Further, in Uganda, where we have been operating for two years, we have been able to observe our impact on digital transformation. For the first time, local businesses have a secure, highly reliable data centre facility in the country. For banks, this means they can meet compliance regulations set by the central bank, they can reduce their costs by co-locating with us, and most importantly, they can better serve their customers by focusing on their core business. Local and regional cloud service providers are able to expand their service offerings and provide higher service level agreements to their customers. International content delivery networks are able to bring their services closer to the consumer, thereby reducing the cost of that content. These are just a few of the observations we have made since we began operations. Sustainability is a key focus for Raxio Group, with an emphasis on greenfield investments and sustainable infrastructure. How does the company integrate environmental considerations into its data centre projects and contribute to energy transition initiatives in Africa? BP: Sustainability is at the core of our values, as it should be for any data centre operator. Data centres’ main cost is energy, so it is important that they deliver their services in the most sustainable way. We carefully consider the location of our facilities. All our facilities are strategically situated in areas that benefit from abundant, backup power supplies. Most of the power generated in our markets is already renewable, so our goal is to maximise grid uptime by selecting sites with more than one power source. In some of our markets, we will use solar power to supplement grid power, further increasing our reliance on renewable energy. From a design perspective, our data centres are built to be highly efficient. Through a carefully considered equipment selection process, we have achieved a power usage effectiveness of 1.3, setting a new benchmark for the continent. During operations, we use advanced tools to monitor several key indicators so that we can quickly identify efficiency losses or potential risks. Financing has been a key factor in our growth, and we are grateful to our shareholders, Roha and Meridiam, for supporting us from an early stage. More recently, Proparco and the Emerging Africa Infrastructure Fund have provided Raxio with a $170 million sustainability linked debt facility to ensure that we meet certain sustainability targets. In your role, you are responsible for corporate and business development at Raxio Group. Could you share some insights into the company’s strategies for forging partnerships, engaging with stakeholders, and driving growth in the African market? The data centre industry is also growing rapidly in Africa, but it is still in its infancy. What are some of the challenges Raxio is facing as it expands its operations in Africa? BP: When we think about infrastructure as a pillar of growth, there is a real need to be fully aligned with all of our stakeholders, from customers to government to investors to peers. We are very fortunate to be part of a thriving ecosystem of companies that are all growing and rely on the growth of their peers to continue to grow. All of the businesses in
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Etornam Fianoo-Vidza is making language learning more accessible to Africans, one speaker at a time
Two years ago, Etornam Fianoo-Vidza, a French and Spanish teacher, set out to learn Swahili. She expected to find an abundance of learning materials online, given that Swahili is the most spoken language in Africa, but she was wrong. After trying out different sites and apps, she found most of their teaching methods ineffective. Here, Etornam saw a gap to be filled, and she decided to begin teaching languages online. This eventually led to the birth of her language-learning startup, Spiika. Unlike other language learning apps that offer only text and audio lessons, Spiika goes a step further and offers its users live interactive lessons with tutors, engaging activities and video lessons, and a community of learners to interact with online. TechCabal spoke to Etornam about Spiika and what it’s like running an edtech startup in Ghana. TechCabal: Did you always want to build a startup or did Spiika just happen along the way? Etornam Fianoo-Vidza: I love languages, fundamentally, I have a passion for languages. I speak five: English, French, Spanish, our local language here in Ghana, Twi, and Swahili. I’ll be adding German and Chinese to that list very soon. I’m just a language fanatic, and growing up, I knew that I wanted to do something with my love for languages and make something out of it. I also have always loved business, so at one point, I just decided to align my love for languages with my love for business by starting a language school. I have a Masters in Teaching French as a Foreign Language from the University of Arizona, and when I returned to Ghana, I started to teach French. However, I found that local African languages also needed to be taught and so I incorporated them and took it online. The existing platforms had only words and AI voices in foreign accents were pronouncing these words, which I found appalling. At that point, I decided that we could work on helping people across Africa learn local languages alongside foreign languages. TC: What does Spiika do differently from the regular language classes taught at Ghanaian secondary schools? EFV: Language is the most studied subject area in Africa but while students are taught foreign languages like French—which is compulsory—they end up not remembering anything as soon as they leave school. This is mainly a result of the way they are taught. Our schools here use a very mechanical and rule-based approach, and that doesn’t yield long-term results as it’s not practical. From my experience teaching French in the United States as a teaching assistant, I saw how people respond to different methodologies. With language learning, interaction is key, and technology is an important tool in facilitating this. It’s very important for us to move away from the traditional classroom-based mechanical approaches to incorporating really diversified methodologies that highlight human interaction. You can use word-based platforms to learn, which will teach you vocabulary and common expressions, but unless you are interacting, you will remain the same and eventually even forget what you’ve learned. Our app now does three things: live interactive lessons with tutors, engaging activities and video lessons, and a community of learners to interact with online. The human component gets people to progress faster. TC: What does it take to successfully run an edtech startup in Ghana? EFV: The first thing to come to mind is grit; grit and perseverance. The passion is really what has to drive you. Passion for what you do and passion to keep learning, because as a founder you have to be willing and able to learn things on the go as well as be adaptable and open to change. When I started Spiika, I didn’t start with any official business background, no MBAs or anything, my background was just languages. Once I started, I had to begin attending a lot of business workshops and reading books, just to keep up. Running a startup in Ghana takes a lot of grit, perseverance, and willingness to learn. TC: What are some of the challenges that you’ve faced in building Spiika? EFV: One of the challenges we’ve faced is talent. As we grow, we need to employ even more people to fill more roles which has been a bit of a hassle. Really good talent comes with really good money and sometimes we’re not necessarily able to afford that. Another challenge that we’ve faced is payments. Because our services are online and cater to people across the world, receiving payments from different countries can be a hassle. We have a lot of fintechs but I still think that there’s more that can be done in terms of simplifying payments between African countries. We’ve had instances of users from other countries having difficulty with payments because they’d much rather use simpler transfer methods than cards. Fintech in Ghana is also not as advanced as in other countries, Nigeria for example. 90% of our clients in Ghana pay using the Mobile Money option, but getting that option alone can be a challenge— especially with running around the telecom providers. TC: How has the reception for Spiika been? How well have people received it so far? EFV: So far, it’s been good. We started with French to validate the need for it, as we are surrounded by Francophone countries and there’s a need to learn French. In terms of demand, we’ve seen more people trying to learn French compared to any other language. Also, due to the African Continental Free Trade Area (AfCFTA) which is headquartered here in Ghana, more Ghanaians are looking to learn French as it’s the official language. TC: How’s the edtech scene in Ghana? EFV: The edtechs in Ghana are blooming but not as vast as I’d like or to the extent of our true potential as we still do not have a lot of exposure compared to countries like Nigeria or North Africa. These countries have more developed tech ecosystems in general, which when combined with country size, looks
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Quick Fire 
with Israel Oloruntoba
Israel Oloruntoba is a product design manager at TradeAlly. With about four years of design experience, he has helped businesses and organisations solve problems, leading to customer retention, growth, and revenue increase. Israel possesses extensive experience in working on multiple products ranging from custom startup solutions to simple and complex enterprise software. Explain your job to a five-year-old. The toys you play with, I design them. It’s my job as a product designer to ensure that you, first, have the right kind of toy. Creating toys that just make you happy when you use them is what I do. And is product design something you stumbled on? Or is it something you’ve always wanted to do? For my adult years, it’s definitely something that I wanted to do. I started first as a graphic designer and I also was interested in product management and engineering; I even learnt to code at some point. So I looked for something that was in between Product design was what made most sense. I’m also very interested in building products that people will actually use and enjoy. So it’s a little bit of both. I wouldn’t say my life’s dream was to be a product designer. But, it’s something that I stumbled upon and something I was also very interested in basically. What’s one thing you think any aspiring product designer should know? That product design is not just about pixels, it’s not just about shiny things. It’s about the thinking. It’s about really understanding how products works. It’s not just going on Figma and putting squares, circles and text together. Understanding how people use things, understanding people’s mental modes for the basic things that they use, that’s product design. It’s seeing beyond the shiny interfaces and shiny looks of products generally. You’ve had freelance and salaried employment. Which do you prefer? And why? For me, I prefer salaried. I’m not the biggest planner, but when it comes to things within my sphere of control, I don’t mind having them within my sphere of control. And I think the non-predictability that comes with freelance requires meticulous planning. I personally paid employment, especially in a startup, not in a company. Because in a startup, you get to do a lot of exciting stuff all the time. In bigger companies, it’s very easy to be very obscure, and just faff around and not do anything. Can one become a product designer with Canva alone? Or are tools like Illustrator and Figma critical? That’s actually a very interesting question. I think you can, especially with the new AI tool that Canva has. If we go back to what I said about what product designers need to understand, which is the product thinking itself, and how people use products, I think it’s less of the tool that you use, and more of the thinking behind what you’re creating that determines how good you are as a product designer. It’s less of the tool and more of the thinking. Speaking of AI, what do you think about the rush for AI? Is it legit? Or will it die down as Web3 did? I think there are two sides to it. There’s the business side and there’s the product side, which is the everyday use. I think that AI is not just unlike Web3 because everyday people use it. Web3 is very specific to people that just have an interest in it. AI is something that goes into everyday life. And a lot of people in the world have access to it so I think it’s something that is here to stay for a very long time. Final question. What’s something you’re insanely proud of? I designed Termii to be what it is right now.
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Latest way to reverse money using Capitec app
Capitec Bank, one of South Africa’s leading financial institutions, provides its customers with a user-friendly mobile banking app. This app offers a variety of convenient features, including the ability to send and receive money. However, there are times when a transaction may be sent in error or needs to be reversed. Fortunately, the Capitec app allows users to reverse certain money transactions, providing a safety net for those unforeseen mistakes. In this article, we will guide you through the simple steps on how to reverse money transactions using the Capitec app. 1. Before trying to reverse the money transaction using Capitec app If the erroneous transaction was sent to someone you know, try contacting them immediately. Politely explain the situation and request that they send the money back. Most people will understand the mistake and be willing to cooperate. However, if the recipient is unresponsive or unwilling to comply, you can proceed to reverse the money using the Capitec app. 2. Act quickly and gather information to reverse money using Capitec app Timing is crucial when it comes to reversing a transaction. The sooner you realise the error, the better your chances of successfully reversing the money transfer. As soon as you notice the mistake, gather all relevant transaction details, including the date, time, recipient’s name, account number, and the amount transferred. Having this information at hand will expedite the process. 3. Launch the Capitec app Open the Capitec app on your smartphone or tablet and log in using your credentials. If you don’t have the app yet, you can download it from your device’s app store and register for mobile banking. 4. Navigate to ‘Transactions’ Once you are logged in, go to the ‘Transactions’ section of the app. Here, you will find a list of recent transactions made from your account. You may be able to even streamline to seeing just your debit transactions. 5. Locate the transaction and select ‘Reverse’ Scroll through the transaction history to find the erroneous transfer. Once you have located it, tap on the transaction to open the details. Look for the ‘Reverse’ or ‘Refund’ option and select it. 6. Confirm the reversal After selecting ‘Reverse’ or ‘Refund,’ the app will prompt you to confirm the action. Double-check that all the details are correct and confirm the reversal. Be aware that some transactions may not be eligible for reversal, so the success of the process depends on the transaction type. 7. Keep an eye on your account Once the reversal process is initiated, keep a close eye on your account to ensure that the funds are returned successfully. In most cases, the money should reflect in your account within a few business days. However, if the funds do not return within a reasonable timeframe, contact Capitec Bank’s customer support for further assistance. Final thoughts on how to reverse money using Capitec app Mistakes happen, and sending money to the wrong recipient can be stressful. Thankfully, Capitec Bank‘s mobile app provides a straightforward solution to reverse money transactions when needed. By acting quickly, gathering the necessary information, and following the simple steps outlined in this article, you can rectify an erroneous transaction and regain peace of mind. Remember, always be cautious when sending money, double-checking the recipient’s details before confirming any transaction.
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Change SASSA banking details online for SRD 2023
The South African Social Security Agency (SASSA) plays a crucial role in providing financial assistance to vulnerable citizens through the Social Relief of Distress (SRD) program. If you are a recipient of the SASSA SRD grant and need to update your banking details for smoother and faster transactions, this article will guide you through the steps to change your banking details online. Meanwhile, if you’re looking for how to apply for the SRD grant, you should read this. 1. Access the SASSA online portal To begin the process, you must access the official SASSA website and log in to the online portal using your credentials. If you haven’t registered on the portal before, you will need to create an account by providing your personal information and SRD grant details. 2. Locate the “Banking Details” section Once you have successfully logged in to the SASSA online portal, navigate to the “Banking Details” section. This section is specifically designed for recipients who wish to update their banking information. 3. Verify your identity As a security measure, you may need to verify your identity before making any change to your SASSA banking details. Prepare your identification documents, such as your South African ID card or passport, as well as any additional information requested by the portal. The portal may redirect you through a link sent to you via SMS on your registered phone number. Just go through the link and continue with the following steps. 4. Change to your new SASSA banking details Carefully input the new banking details that you want to link to your SRD grant. Make sure to double-check all the information you enter to avoid any mistakes that might delay the updating process. In some cases, your 5. Confirm the change to your SASSA banking details After providing the updated banking information, review all the details once again to ensure accuracy. Once you are satisfied, click the “Confirm” or “Submit” button to finalize the process. The system may prompt you to re-enter your login credentials or provide additional verification for security purposes. 6. Await confirmation Upon successful submission, the system will process your request. It may take a few business days for the change of your SASSA banking details to reflect in their database. During this period, it is essential to keep an eye on your registered contact information for any updates or notifications from SASSA regarding the status of your request. 7. Verify updated details After the processing period, log in to the SASSA online portal once again to verify that your banking details have been successfully updated. Double-check the information to ensure accuracy. Final thoughts on how to Change SASSA banking details Updating your banking details for SASSA’s SRD grant in South Africa is a straightforward process when done through the online portal. By following the step-by-step guide outlined above, you can easily make the necessary changes to your banking information and continue to receive financial support from SASSA without interruptions. Always remember to keep your personal information secure and report any suspicious activities related to your SRD grant to the appropriate authorities.
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TechCabal Daily – Airtel Africa loses $151 million
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية TGIF Starlink is now available in Malawi. The service launched in the country on Wednesday, about a week after it launched in Kenya. Malawi becomes the sixth African country to receive the satellite internet service after Nigeria, Mauritius, Rwanda, Mozambique and Kenya. The service is set to launch in 17 more African countries in 2023, including Zambia and Angola. In today’s edition Quick Fire Airtel Africa loses $151 million in Q1 2023 Hackers attack Kenyan businesses Funding tracker The World Wide Web3 Event: TC Live Opportunities Quick Fire How Israel Oloruntoba thinking about products Israel Ayo Oloruntoba is a product design manager at TradeAlly. With about four years of design experience, he has helped businesses and organisations solve problems, leading to customer retention, growth, and revenue increase. Israel possesses extensive experience in working on multiple products ranging from custom startup solutions to simple and complex enterprise software. Image source: Israel Oloruntoba Explain your job to a five-year-old. The toys you play with, I design them. It’s my job as a product designer to ensure that you, first, have the right kind of toy. Creating toys that just make you happy when you use them is what I do. And is product design something you stumbled on? Or is it something you’ve always wanted to do? For my adult years, it’s definitely something that I wanted to do. I started first as a graphic designer and I also was interested in product management and engineering; I even learnt to code at some point. So I looked for something that was in between Product design was what made most sense. I’m also very interested in building products that people will actually use and enjoy. So it’s a little bit of both. I wouldn’t say my life’s dream was to be a product designer. But, it’s something that I stumbled upon and something I was also very interested in basically. What’s one thing you think any aspiring product designer should know? That product design is not just about pixels, it’s not just about shiny things. It’s about the thinking. It’s about really understanding how products works. It’s not just going on Figma and putting squares, circles and text together. Understanding how people use things, understanding people’s mental modes for the basic things that they use, that’s product design. It’s seeing beyond the shiny interfaces and shiny looks of products generally. You’ve had freelance and salaried employment. Which do you prefer? And why? For me, I prefer salaried. I’m not the biggest planner, but when it comes to things within my sphere of control, I don’t mind having them within my sphere of control. And I think the non-predictability that comes with freelance requires meticulous planning. I personally paid employment, especially in a startup, not in a company. Because in a startup, you get to do a lot of exciting stuff all the time. In bigger companies, it’s very easy to be very obscure, and just faff around and not do anything. Can one become a product designer with Canva alone? Or are tools like Illustrator and Figma critical? That’s actually a very interesting question. I think you can, especially with the new AI tool that Canva has. If we go back to what I said about what product designers need to understand, which is the product thinking itself, and how people use products, I think it’s less of the tool that you use, and more of the thinking behind what you’re creating that determines how good you are as a product designer. It’s less of the tool and more of the thinking. Speaking of AI, what do you think about the rush for AI? Is it legit? Or will it die down as Web3 did? I think there are two sides to it. There’s the business side and there’s the product side, which is the everyday use. I think that AI is not just unlike Web3 because everyday people use it. Web3 is very specific to people that just have an interest in it. AI is something that goes into everyday life. And a lot of people in the world have access to it so I think it’s something that is here to stay for a very long time. Final question. What’s something you’re insanely proud of? I designed Termii to be what it is right now. Secure payments with Monnify Monnify has simplified how businesses accept payments to enable growth. We are trusted by Piggyvest, Buypower, Wakanow, Fairmoney, Cowrywise, and over 10,000 Nigerian businesses. Get your Monnify account today here. Telecoms Airtel Africa loses $151 million in Q1 2023 Image source: Airtel Airtel Africa has reported a loss after tax in its Q1—April 1 to June 30, 2023 results. The telecom reported a loss after tax of $151 million, compared to a profit after tax of $178 million during the same period in 2022 due to the currency devaluation in Nigeria. Growth in revenue but a currency exchange loss: The telco’s financial statement reported that its mobile services revenue grew by 19.1% in constant currency, driven by voice revenue growth of 11.9% and data revenue growth of 29.8%. Mobile money revenue grew by 31.2% in constant currency. Similarly, its total customer base grew by 8.8% to 143.1 million, as the penetration of mobile data and mobile money services continued to rise, driving a 22.0% increase in data customers to 56.8 million and a 24.3% increase in mobile money customers to 34.3 million. The telco’s revenue also grew by 9.6% to $1.37 billion in Q1 2023, compared to $1.25 billion in the same period in 2022. Comments on financial performance: Airtel Africa’s CEO, Olusegun Ogunsanya, stated that the group delivered a strong operating performance with improvement in both constant currency revenue growth and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margin despite the challenging macro environment. The telco saw an improvement in voice, data, and mobile money but
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2023 Capitec branch code according to bank locations
Capitec Bank is a leading financial institution in South Africa, known for its customer-centric approach and innovative banking services. With a wide network of branches strategically located across the country, Capitec ensures that its customers can easily access their banking needs. In this article, we will explore Capitec Bank’s branch locations and each’s code, making it more convenient for customers to find their nearest branch. Capitec SA locations and B-codes Capitec Bank has an extensive branch network in South Africa, serving customers in various cities and towns. Here are some of the major locations where you can find Capitec Bank branches along with their branch codes: 1. Johannesburg CBD – Branch Code: 470010 2. Cape Town – Branch Code: 470010 3. Durban – Branch Code: 470010 4. Pretoria – Branch Code: 470010 5. Bloemfontein – Branch Code: 470010 6. Port Elizabeth – Branch Code: 470010 7. Nelspruit – Branch Code: 470010 8. Polokwane – Branch Code: 470010 9. East London – Branch Code: 470010 Please note that the branch code “470010” remains the same for all Capitec Bank branches. The branch code is a unique identifier assigned to each branch, enabling smooth interbank transactions and transfers. Also, keep in mind that there are definitely other locations where you may find Capitec branches but are not on this list. The crux of this article is to let you know that regardless of the Capitec bank location, 470010 remains the branch code. Final thoughts on Capitec branch code according to bank locations Capitec Bank’s extensive branch network ensures that customers have convenient access to their accounts and various banking services. Whether you need to deposit cash, inquire about your account balance, open a new account, or seek financial advice, you can visit your nearest Capitec branch and receive prompt assistance from the bank’s friendly staff. Moreover, the strategically located branches in major cities and towns contribute to the bank’s mission of being accessible to all South Africans, irrespective of their geographic location. Capitec Bank’s commitment to providing personalised service at the branch level has made it a preferred choice among customers across the nation.
Read MoreM-PESA experiences downtime in Kenya as bank-to-mobile money transfers stall
Safaricom’s M-PESA service disruption has affected bank-to-mobile money transfers. Amid the chaos, the operator is yet to acknowledge downtime. Over the last couple of hours, Safaricom’s mobile money product, M-PESA, has experienced an outage. The downtime was not isolated to just a few users, as most Kenyans reported having issues transacting on the platform. Based on consensus from these customers and tests, it has been established that M-PESA services could not be accessed from its smartphone app, MySafaricom, and the M-PESA super app. Customers also reported issues when transferring funds from banks to their M-PESA wallets. Some banks, such as Standard Chartered Bank, have since communicated the issue to customers. “Our online banking/SC mobile app bank to M-PESA and mobile banking *722# services are unavailable. We are working together to restore the services and apologise for any inconvenience caused,” reads a statement from the Stanchart. While other banks have not notified their customers about service disruption, users reported the issues on social media channels. For instance, I&M customers reported experiencing problems when transferring funds from their banks to M-PESA. However, M-PESA did not reflect the transfers. Nonetheless, the same customers have also reported that the transactions were eventually completed after hours of waiting. The bank also emailed users, acknowledging there was a downtime in an email to a client: “The reason for this (disruption) is because Safaricom had a system downtime, which caused all bank to M-PESA transfers to be incomplete. We seek your indulgence as Safaricom makes efforts to restore normalcy on their end. The funds will either be credited back to the sending accounts or transactions completed to the recipient.” Safaricom has not released any statement acknowledging the issue. There is an unsubstantiated rumour that some M-PESA gateways were compromised. The operator is known for its tight-knit communications system that does not reveal valuable information about downtimes. TechCabal’s attempts at digging deeper into the matter have not been successful. Nevertheless, Safaricom has texted customers: “M-PESA services on the M-PESA and Safaricom apps are currently unavailable. We are working to restore our apps, in the meanwhile, you can make M-PESA transactions through *334#. We do apologise for any inconvenience caused.” The Kenyan economy heavily relies on mobile services, with M-PESA leading the market at over 96% market share. Locals extensively use this service for person-to-person transfers, payments, accessing loans, and overdrafts, among many other functions. The payments aspect is particularly crucial as it incorporates other services, such as purchasing tokens for electricity or paying for government services. Notably, a few months ago, power distributor Kenya Power closed other channels for power purchases, leaving only M-PESA and Airtel Money payments available. Furthermore, government services like passport, eVisa, and driving license applications, now accessible via the recently hacked eCitizen platform, are also paid for using mobile money. Kenyans also frequently transfer funds to and from their bank accounts to M-PESA for various reasons. This is a tiny glimpse of how deeply M-PESA has integrated into the Kenyan economy and how downtime can significantly disrupt daily economic activities. These concerns have also raised a much-debated question of whether M-PES should be separated from Safaricom. Safaricom CEO Peter Ndegwa had previously revealed that separating the two businesses would create a holding company responsible for managing the telco’s mobile money services, towers, data services, and the Ethiopian arm. The Ethiopian business has already been launched. The development was slated for January 2023 but did not occur. The CEO had also stated that they expected to have a holding company, likely listed, with several businesses operating under Safaricom. They also foresaw the possibility of monetising some of their assets, such as leasing towers and creating a separate tower company.
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2023 world’s most expensive laptops
In the realm of luxury gadgets, tech enthusiasts have witnessed extraordinary innovations over the years. From opulent smartphones to lavish laptops, designers continually push the boundaries of extravagance. Two standout creations that have captivated the world with their sheer grandeur are MJ’s Swarovski & Diamond-Studded Notebook and the Luvaglio. They are the world’s most expensive laptops. 1. The Luvaglio laptop The Luvaglio laptop isn’t just one of the most expensive laptops. It’s a legend in the realm of luxury tech, setting an unrivalled standard for opulence and sophistication. Designed by a British luxury goods company, the Luvaglio laptop is an exquisite work of art that boasts a myriad of rare materials and customizable features. At first glance, the Luvaglio mesmerises with its elegant design, characterised by sleek lines and precision engineering. The exterior can be personalised, with clients having the option to select from an array of luxurious materials, including handcrafted wood, genuine leather, and precious metals like gold or platinum. The most iconic feature of the Luvaglio laptop is its customisable diamond power button. The company offers a selection of rare and flawless diamonds, allowing users to choose the one that best suits their taste. Each diamond is intricately placed, and the button itself is designed to be removable, turning it into a wearable piece of jewellery. Beyond its sumptuous exterior, the Luvaglio laptop boasts formidable computing power. Equipped with the latest processors, vast amounts of storage, and ultra-high-resolution displays, it delivers a seamless and immersive user experience. Moreover, the company offers exclusive concierge services, including a dedicated Luvaglio team that is available around the clock to address any customer’s needs. This level of personalised attention ensures that every Luvaglio laptop owner feels like royalty. And the confluence of all these explains why it’s one of the world’s most expensive laptops. 2. MJ’s Swarovski & Diamond-Studded Notebook MJ, a renowned luxury designer, set out to create a truly one-of-a-kind notebook that would redefine luxury computing. The result is a masterpiece that seamlessly blends advanced technology with the brilliance of Swarovski crystals and diamonds. The notebook’s exterior is a sight to behold, adorned with thousands of genuine Swarovski crystals that shimmer under any light. The meticulous craftsmanship and attention to detail are evident, as each crystal is precisely placed to create a mesmerising pattern that runs along the notebook’s sleek aluminium body. This limited-edition gem sparkles like a star on a moonless night, instantly drawing admiration from anyone who beholds it. However, it is not just about the dazzling exterior; MJ’s Swarovski notebook boasts formidable specs to ensure unrivalled performance. Powered by the latest cutting-edge processors, ample RAM, and storage capabilities, this luxurious device offers seamless multitasking and impressive speed. Its vibrant display presents images with unparalleled clarity and colours that pop with lifelike precision. The keyboard is thoughtfully designed, with every key featuring a tiny, carefully cut diamond at its centre. Typing on this elegant masterpiece is a tactile delight. Moreover, the touchpad is lined with Swarovski crystals, adding a touch of magic to every movement. MJ’s Swarovski notebook is the pinnacle of luxury and a symbol of status among the elite. Only a select few can own this exclusive marvel, making it one of the most coveted gadgets in the world and also the most expensive laptop at 3.5 million dollars. Final thoughts on world’s most expensive laptops MJ’s Swarovski & Diamond-Studded Notebook and the Luvaglio laptop represent the epitome of luxury and craftsmanship in the world of gadgets. These masterpieces not only offer cutting-edge technology but also redefine the concept of exclusivity and prestige. For those fortunate enough to own these opulent devices, they serve as symbols of status and sophistication, proving that luxury and innovation can harmoniously coexist in the realm of modern technology.
Read MoreForeign exchange devaluation impacts Airtel Africa’s $151m loss in Q1 2023
Airtel Africa has reported a loss in their first quarter result for 2023. Airtel’s CEO cites the currency devaluation from Nigeria as a core reason. According to a financial statement published on the Nigerian Exchange Group (NGX), Airtel Africa has reported a loss for its Q1 result in 2023—April 1 to June 30, 2023. Airtel reported a loss after tax for the period under review of $151 million, compared to a profit after tax of $178 million during the same period in 2022. Conversely, the telco’s revenue grew by 9.6% to $1.37 billion in Q1 2023, compared to $1.25 billion in the same period in 2022. Commenting on the financial performance, Airtel Africa’s CEO, Olusegun Ogunsanya, stated that the group delivered a strong operating performance with improvement in both constant currency revenue growth and EBITDA margin despite the challenging macro environment. The telco saw an improvement in voice, data, and mobile money but its results were impacted by foreign exchange headwinds. “This quarter saw the announcement of the change to the FX market in Nigeria which resulted in a significant naira devaluation. We have welcomed this reform as very positive for the medium and long-term development of our business in Nigeria, our largest market. The country offers significant untapped growth potential, underpinned by highly attractive fundamentals. This has supported and sustained a strong operating performance which has seen a five-year revenue and EBITDA CAGR of 23.5% and 27.3% in constant currency, respectively,” Ogunsanya said. Ogunsanya explained that even though the company expected the FX reforms to improve liquidity over time, the devaluation has had a material impact on Airtel’s results. He said the telco has, over the last few years, actively reduced their FX exposure across the group, and this will continue to be a focus area in the future to limit the impact of any future devaluation. Despite these headwinds, Airtel Africa revealed it will continue to invest in Nigeria to enable it to capture the growth opportunity. “This continued investment will facilitate growth, drive continued digitalisation across the country, facilitate economic progress and transform lives across Nigeria,” the report read. The telco’s financial statement also reported that its mobile services revenue grew by 19.1% in constant currency, driven by voice revenue growth of 11.9% and data revenue growth of 29.8%. Mobile money revenue grew by 31.2% in constant currency. Similarly, its total customer base grew by 8.8% to 143.1 million, as the penetration of mobile data and mobile money services continued to rise, driving a 22.0% increase in data customers to 56.8 million and a 24.3% increase in mobile money customers to 34.3 million.
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