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It’s been a season of lots of public holidays in Nigeria. Now, we are back to work.
Let’s dive in. - Samson
How Palmpay’s ruthless debt collection methods are becoming social media memes
PalmPay’s popularity has grown since its launch in 2019 and the fintech is popular for its quick payment processing. According to Semafor, Palmpay was one of the biggest beneficiaries of Nigeria’s controversial currency redesign policy. But more than that, Palmpay’s digital lending business is wildly popular, with interest rates between 15-30% for payday-type loans. TechCabal
‘Godfather Of AI’ Quits Google To Warn Of The Tech’s Dangers
Geoffrey Hinton, who created a foundation technology for AI systems, told The New York Times that advancements made in the field posed “profound risks to society and humanity”. Look at how it was five years ago and how it is now,” he was quoted as saying in the piece, which was published on Monday. Take the difference and propagate it forwards. That’s scary.” Channels TV
How the African tech boom is transforming its sports industry
From grassroots football development to cutting-edge sports technology, African entrepreneurs are spearheading initiatives that promise more financial value and structure for African sports talent. Shola Akinlade, the co-founder of Paystack, a popular payments platform in Africa, recently made headlines after he acquired a majority stake in Danish football club Aarhus Fremad Fodbold. QZ
Bridging the gap: Gullit VC launches startup accelerator
Africa’s startup culture is still very young and volatile, so it will take more than great ideas and coding skills to build sustainable businesses. That’s why incubators, tech hubs and accelerators have become more vital for the ecosystem than ever. They help businesses overcome obstacles such as lack of space, cash, mentoring, and training. Amid this dynamic startup ecosystem, Gullit has emerged as a key player, mentoring and investing in scaleable early-stage African tech startups. Ventures Africa
Africa’s role in the global AI race is more prominent than you know
Africa has over 2,400 AI organizations operating across various industries, including health, wellness, fitness, farming, law, training, and insurance. This includes a rapidly growing ecosystem of startups, several of whom are members of the Nvidia Inception program to support AI startups. Rest of World
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This Week in Tech
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