• About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, September 22, 2023
Earth-News
  • Home
  • Business
  • Entertainment
    Margaret Qualley divulges details on life with Jack Antonoff

    Margaret Qualley divulges details on life with Jack Antonoff

    Angus Cloud’s cause of death revealed

    Angus Cloud’s cause of death revealed

    Sophie Turner sues ex Joe Jonas to return children to England

    Sophie Turner sues ex Joe Jonas to return children to England

    Naomi Campbell was ‘killing herself’ with ’90s drug addiction

    Naomi Campbell was ‘killing herself’ with ’90s drug addiction

    Steve Martin and Martin Short postpone Las Vegas live shows

    Steve Martin and Martin Short postpone Las Vegas live shows

    “Retribution” Movie Review

    “Retribution” Movie Review

  • General
  • Health
  • News
    New iPhone arrives today

    New iPhone arrives today

    Akshata Murty gives update on Larry the Cat in rare interview about life at Downing Street

    Akshata Murty gives update on Larry the Cat in rare interview about life at Downing Street

    Fentanyl stash found in New York nursery days after toddler died from suspected overdose

    Fentanyl stash found in New York nursery days after toddler died from suspected overdose

    Girl, 8, becomes first UK transplant patient not to need life-long drugs

    Girl, 8, becomes first UK transplant patient not to need life-long drugs

    Rishi Sunak ‘considering British baccalaureate as part of education overhaul’

    Rishi Sunak ‘considering British baccalaureate as part of education overhaul’

    Nigerians protest mysterious death of Afrobeat star as police exhumes body for autopsy

    Nigerians protest mysterious death of Afrobeat star as police exhumes body for autopsy

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Tech
    Google’s ‘Studio Bot’ AI now available in 170+ regions, EU and UK still excluded

    Google’s ‘Studio Bot’ AI now available in 170+ regions, EU and UK still excluded

    You can change your lock screen shortcuts on Pixel with Android 14

    You can change your lock screen shortcuts on Pixel with Android 14

    Smart Lock’s Trusted devices missing from Google Pixel, Samsung

    Smart Lock’s Trusted devices missing from Google Pixel, Samsung

    Today’s best Android app deals: CHUCHEL, Botanicula, Teslagrad, and more

    Today’s best Android app deals: CHUCHEL, Botanicula, Teslagrad, and more

    T-Mobile switching to Google’s Jibe for RCS in Messages app

    T-Mobile switching to Google’s Jibe for RCS in Messages app

    Michael Bloomberg Is Throwing $US500 Million at Efforts to Shut Down All U.S. Coal Plants

    Michael Bloomberg Is Throwing $US500 Million at Efforts to Shut Down All U.S. Coal Plants

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Margaret Qualley divulges details on life with Jack Antonoff

    Margaret Qualley divulges details on life with Jack Antonoff

    Angus Cloud’s cause of death revealed

    Angus Cloud’s cause of death revealed

    Sophie Turner sues ex Joe Jonas to return children to England

    Sophie Turner sues ex Joe Jonas to return children to England

    Naomi Campbell was ‘killing herself’ with ’90s drug addiction

    Naomi Campbell was ‘killing herself’ with ’90s drug addiction

    Steve Martin and Martin Short postpone Las Vegas live shows

    Steve Martin and Martin Short postpone Las Vegas live shows

    “Retribution” Movie Review

    “Retribution” Movie Review

  • General
  • Health
  • News
    New iPhone arrives today

    New iPhone arrives today

    Akshata Murty gives update on Larry the Cat in rare interview about life at Downing Street

    Akshata Murty gives update on Larry the Cat in rare interview about life at Downing Street

    Fentanyl stash found in New York nursery days after toddler died from suspected overdose

    Fentanyl stash found in New York nursery days after toddler died from suspected overdose

    Girl, 8, becomes first UK transplant patient not to need life-long drugs

    Girl, 8, becomes first UK transplant patient not to need life-long drugs

    Rishi Sunak ‘considering British baccalaureate as part of education overhaul’

    Rishi Sunak ‘considering British baccalaureate as part of education overhaul’

    Nigerians protest mysterious death of Afrobeat star as police exhumes body for autopsy

    Nigerians protest mysterious death of Afrobeat star as police exhumes body for autopsy

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Tech
    Google’s ‘Studio Bot’ AI now available in 170+ regions, EU and UK still excluded

    Google’s ‘Studio Bot’ AI now available in 170+ regions, EU and UK still excluded

    You can change your lock screen shortcuts on Pixel with Android 14

    You can change your lock screen shortcuts on Pixel with Android 14

    Smart Lock’s Trusted devices missing from Google Pixel, Samsung

    Smart Lock’s Trusted devices missing from Google Pixel, Samsung

    Today’s best Android app deals: CHUCHEL, Botanicula, Teslagrad, and more

    Today’s best Android app deals: CHUCHEL, Botanicula, Teslagrad, and more

    T-Mobile switching to Google’s Jibe for RCS in Messages app

    T-Mobile switching to Google’s Jibe for RCS in Messages app

    Michael Bloomberg Is Throwing $US500 Million at Efforts to Shut Down All U.S. Coal Plants

    Michael Bloomberg Is Throwing $US500 Million at Efforts to Shut Down All U.S. Coal Plants

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Tech

From regulatory ripples to cyberattacks: A reflection on Africa’s tech ecosystem in Q2 2023

August 12, 2023
in Tech
From regulatory ripples to cyberattacks: A reflection on Africa’s tech ecosystem in Q2 2023
Share on FacebookShare on Twitter

Image source: Telecom Review Africa

In Q1 2023, Artificial Intelligence took centre stage globally and particularly in Africa, as the sector yielded Africa’s biggest acquisition of all time in a mega deal worth $682 million. However, the second quarter of 2023 took a different turn, according to research findings by TechCabal Insights. Venture funding grew a little higher than the previous quarter with energy startups dislodging fintechs. Several African governments also began to pay attention to regulatory activities that dominate the tech space, with Nigeria and Kenya at the forefront.

In Q2 2023, venture funding increased from US$ 857 million in Q1 to US$916.4 million in Q2, nearly crossing US$1 billion and totalling a  6.9% increase from the last quarter. This was driven by two mega deals: M-Kopa securing $255 million in a debt-and-equity financing round and SunKing’s $130 million securitisation deal in May 2023. 

Although there was a decline in the number of funding deals compared to the last and corresponding quarter, we have seen a trend of quality investments and deals as well as growth from startups in East Africa as Kenya jumped to the top in terms of funding position to secure an impressive $462.4 million, with Nigeria following distantly at $149.3 million. 

“The downsizing of deals is important to building a more mature and structured ecosystem for Africa. Startups have become more margin-conscious and pay attention to the fact that investors now prioritise scalability, unit economics, and capacity,” said Leslie Ossete, co-founder and COO at Mstudio at the launch of The State of Tech Report Q2 2023 on Friday, August 4, 2023.

One of the most noteworthy trends in Q2 2023 was the shift in the venture funding landscape, as fintech startups no longer receive the largest chunk of investment. Instead, energy-focused startups took the lead, securing an impressive $486.9 million to represent 53% of the total funding in the quarter. This implies that while innovation around payment or digital financial services remains attractive on the continent, Africa’s energy needs are beginning to gain investor attention, considering the gap in energy consumption across the continent.

While there has been a general increase in the environmental and climate consciousness globally, we have also seen an increase in regulatory policies which has served as a major driver for investment and innovations in the cleantech and energy sector. For example, Nigeria signed an electricity bill in 2023 that provides a framework for the generation, transmission, and distribution of electricity. The bill also provides incentives for private investors to create a viable market that would drive investment, improve electricity access, and foster economic growth. Like Victoria Oloni, an associate at Templars said: “If a sector is going to experience a boom, it starts with regulatory policies that make it attractive for investment to come into the space.” 

The surge in digital financial services adoption across Africa has brought about an increase in cyber fraud risks. For instance, MTN’s mobile money service sued 18 Nigerian banks after a $53.7 million loss to mobile money fraud. Union54, a Zambian fintech, paused operations due to an attempted $1.2 billion chargeback. We also witnessed other cyber fraud activities with financial institutions like Flutterwave, Heritage Bank, Globus Bank, and even one of  Africa’s biggest streaming platforms- Showmax.

These incidents highlight the pressing need for enhanced cybersecurity to protect user information and financial assets amidst Africa’s expanding digital finance landscape. Emeka Ajene, founder at Afridigest advised: “It is important for startups to start thinking around optimising their products against cyber fraud early rather than later.”

Although the year began with a lot of scepticism about funding in Africa’s startup ecosystem, the performance so far has sharply contrasted it. With each passing quarter, the African tech ecosystem evolves and adapts, continually pushing boundaries and redefining what is possible despite various challenges. By ensuring more stakeholder engagement and collaboration on the implementation of policies, we will begin to see unparalleled growth across Africa’s diverse tech ecosystem.

To get valuable insights into the state of tech in Africa in Q2 2023, download the report here.

Get the best African tech newsletters in your inbox

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCabal – https://techcabal.com/2023/08/11/from-regulatory-ripples-to-cyberattacks-a-reflection-on-africas-tech-ecosystem-in-q2-2023/

Tags: RegulatoryRipple’stechnology
Previous Post

Inside ChowCentral: Y Combinator’s latest food delivery bet in Africa

Next Post

Kenya police seize Worldcoin equipment

Google’s ‘Studio Bot’ AI now available in 170+ regions, EU and UK still excluded

Google’s ‘Studio Bot’ AI now available in 170+ regions, EU and UK still excluded

September 22, 2023
You can change your lock screen shortcuts on Pixel with Android 14

You can change your lock screen shortcuts on Pixel with Android 14

September 22, 2023
Smart Lock’s Trusted devices missing from Google Pixel, Samsung

Smart Lock’s Trusted devices missing from Google Pixel, Samsung

September 22, 2023
Today’s best Android app deals: CHUCHEL, Botanicula, Teslagrad, and more

Today’s best Android app deals: CHUCHEL, Botanicula, Teslagrad, and more

September 22, 2023
T-Mobile switching to Google’s Jibe for RCS in Messages app

T-Mobile switching to Google’s Jibe for RCS in Messages app

September 22, 2023
Michael Bloomberg Is Throwing $US500 Million at Efforts to Shut Down All U.S. Coal Plants

Michael Bloomberg Is Throwing $US500 Million at Efforts to Shut Down All U.S. Coal Plants

September 22, 2023
All the Electric Utes Coming to Australia in the Future

All the Electric Utes Coming to Australia in the Future

September 22, 2023

Lower Decks Is Making More Room for Its Underused Characters

September 22, 2023
Manchester United new manager odds: The favourites for Old Trafford hot seat are named

Manchester United new manager odds: The favourites for Old Trafford hot seat are named

September 22, 2023
Israel Euro 2024 squad: Alon Hazan’s full squad for the Euro 2024 qualifiers

Israel Euro 2024 squad: Alon Hazan’s full squad for the Euro 2024 qualifiers

September 22, 2023
Partenaires
afric.info
europ.info
usa-news
lesmeilleureschaussures.fr
goodsforyoutoday.com
looktopbeauty.com
keto-diet.biz
soccernews.info
nba-news.net
sportsprblog.com compar.biz
the-best.top
bestchoices.biz
expert-plus.fr
travel-mag.info
pksportsnews.com
news-sports.org

Categories

Archives

September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (3,300)
  • Entertainment (3,318)
  • General (2,385)
  • Health (1,598)
  • News (3,763)
  • Science (2,581)
  • Sports (3,494)
  • Tech (2,561)

Recent News

Google’s ‘Studio Bot’ AI now available in 170+ regions, EU and UK still excluded

Google’s ‘Studio Bot’ AI now available in 170+ regions, EU and UK still excluded

September 22, 2023
You can change your lock screen shortcuts on Pixel with Android 14

You can change your lock screen shortcuts on Pixel with Android 14

September 22, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version

From regulatory ripples to cyberattacks: A reflection on Africa’s tech ecosystem in Q2 2023- https://puzzlee.org   https://www.laboutiquehigh-tech-leblog.com   https://www.everythingfoodanddrink.org   https://vinsdivins.com   https://chaussuresbaskets.fr   https://batmanmagazine.com   https://scbigcats.com   https://100000-articles.com   -/- Best MILF Dating and Hookup Websites | FreeHookupsSites.com   Manchester City vs Nottingham Forest: Live stream, TV Channel, Start time and Team news   Luniquz Collier Réglable en Cuir Doux avec Clochette – Collier Chat pour Chat, Chaton, Chiot, Petit Chien(17cm-22cm)-Rouge   -*-
Fatal error: Uncaught PDOException: SQLSTATE[HY000]: General error: 2006 MySQL server has gone away in /www/wwwroot/jesuislibre.info/links2.php:52 Stack trace: #0 /www/wwwroot/jesuislibre.info/links2.php(52): PDO->query() #1 {main} thrown in /www/wwwroot/jesuislibre.info/links2.php on line 52
From regulatory ripples to cyberattacks: A reflection on Africa’s tech ecosystem in Q2 2023 *From regulatory ripples to cyberattacks: A reflection on Africa’s tech ecosystem in Q2 2023