Technology

Andela Opens Tech Hub in Kigali

Published

6 years ago

August 1, 2018

Andela Opens Tech Hub in Kigali

Andela, the company building high-performing engineering teams with Africa’s most talented software developers, has announced the launch of a pan-African technology hub in its fourth African market, Kigali, Rwanda.

To fuel the expansion, Andela is partnering with the government of Rwanda through the Rwanda Development Board (RDB), an organization responsible for transforming the country into a dynamic global hub for business, investment and innovation.

A model of technological excellence on the African continent, Kigali was chosen as a strategic location for Andela’s first pan-African hub due to its strong existing infrastructure and ease of access for developers across the continent. Through the partnership, RDB will support Andela’s efforts to build a pan-African workforce and support the development of Rwandan and other African talent. This will catalyze Andela’s mission to invest in Africa’s most promising talent and build the continent’s future technology leaders, adding to the over 700 Andela developers based in the company’s existing locations in Lagos, Nairobi and Kampala.

Andela co-founder and Chief Executive Officer, Jeremy Johnson, said: “We are thrilled to have found a partner in the Government of Rwanda whose mission is so closely aligned with our own: to grow and sustain a pan-African elite tech workforce. In Kigali, we have found a location that makes travel to-and-from other African countries seamless and also has the modern and connected infrastructure we require to collaborate with a global workforce.”

Andela launched operations in Nigeria in 2014 to help global companies overcome the severe shortage of skilled software developers and invest in Africa’s top technical minds. Since then, the company has hired and developed more than 700 software engineers across the continent, which collectively help power the technology teams of more than 150 global companies, including Viacom, Pluralsight and GitHub, while setting new standards for engineering culture.

In 2018, Andela earned Best Place to Work awards for both its Lagos and Nairobi offices in recognition of its company-wide focus on diversity and inclusion, stellar office culture, dynamic working environment, and opportunities for career advancement.

Andela Vice President, Global Operations, Seni Sulyman, added: “As the first fully 4G African city, Kigali continues to push towards ICT excellence and is fast becoming one of East Africa’s key tech hubs. Connecting talent with opportunity on a global scale is Andela’s ethos, and with the opening of our Kigali hub, we expect to extend opportunities to thousands more software engineers from across the continent that will make their mark on the global tech scene via Kigali.”

Through Andela’s distributed model of work, developers gain global experience with the world’s top technology firms while working remotely from an Andela campus. This enables them to actively contribute to the growth of their local tech ecosystems by leading developer groups, mentoring junior technologists, and serving as an example of how local developers can compete on a global level.

RDB Chief Executive Officer, Clare Akamanzi, noted, “We are delighted to partner with Andela to build the next generation of technology leaders who will lead innovation in Kigali and beyond. Through partnerships, such as the one we are announcing today, we are accelerating Kigali’s growth as a global technology hub while also advancing skills development and employment opportunities for young, talented Africans.”

Andela will open applications to candidates from any African country looking to jumpstart a global career in software development in August of 2018, and launch its Kigali tech campus in December of 2018. It will also open applications for the Andela Learning Community (ALC), which provides free resources and mentorship to aspiring technologists, in Rwanda and Tanzania in August of 2018.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Technology

EU Raises Tariff on Chinese Electric Vehicles by 35%

Published

1 week ago

October 4, 2024

Samed Olukoya

In an effort to slow down Chinese infiltration of the European market with more affordable options, the European Union has hiked tariffs on electric vehicles from China by 35% to 45% from the usual 10%.

According to people familiar with the situation, ten member states voted in support of the new tariff while Germany and four others voted against it. The remaining 12 states reportedly abstained.

Last month, the former European Central Bank President Mario Draghi warned that Chinese state-sponsored competition was a threat to the European Union and could leave the region vulnerable to coercion.

The bloc had claimed that China unfairly subsidized its industry to have an edge over EU businesses, a claim Beijing denies and has threatened retaliatory action on European dairy, brandy, pork and automobile sectors.

However, given the size of trade between the bloc and China, €739 billion or $815 billion in last year, it’s believed the two parties will continue negotiations to find an alternative to the tariffs.

Technology

OpenAI’s Valuation Soars to $157 Billion After $6.6 Billion Funding Round

Published

1 week ago

October 3, 2024

Samed Olukoya

OpenAI, the company that owns Chatgpt, has raised $6.6 billion in a new funding round to boost the company’s valuation to $157 billion as it looks to strengthen its lead in generative AI technology.

Thrive Capital led the funding round with $1.3 billion, while Microsoft invested an additional $750 million, bringing its total investment in OpenAI to $13.75 billion.

According to a source familiar with the matter, Khosla Ventures, Fidelity Management & Research Co., and Nvidia Corp., the chipmaker whose powerful processors are driving the AI boom—were also among the investors.

Apart from Elon Musk’s SpaceX and TikTok owner ByteDance Ltd, this deal ranks as one of the largest-ever private investments.

The ability of OpenAI to raise such a substantial amount despite heightened global risks demonstrates the industry’s confidence in the power of AI.

Other investors included Tiger Global Management, which contributed $350 million, and Altimeter Capital, which invested at least $250 million.

SoftBank Group Corp. and the new Abu Dhabi-based tech investment firm MGX also participated, with SoftBank’s investment totaling $500 million, according to one source who requested anonymity. Venture firm Coatue was another participant.

In a statement, the company said it plans to use the funds to advance AI research and expand its computing capacity. “AI is already personalizing learning, accelerating healthcare breakthroughs, and driving productivity,” said OpenAI Chief Financial Officer Sarah Friar. “And this is just the start.”

Fintech

Kazang Pay Launches Card Acquiring Service in Zambia

Published

2 weeks ago

October 2, 2024

Samed Olukoya

Kazang, the prepaid value-added services (VAS) and card acquiring business within JSE-listed fintech Lesaka Technologies, has launched its Kazang Pay card acceptance solution for merchants in Zambia. Kazang Pay makes it affordable for merchants to accept card payments on the same Kazang terminal they use to sell prepaid products and services.

The Kazang Pay enabled terminal in Zambia accepts VISA debit and credit cards as well as mobile wallet payments. Payments are settled to the merchant’s Kazang wallet on the same day. It’s as easy as letting the customer tap or insert their bank card and enter their PIN on the secure scramble PIN pad.

Kazang operates around 12,000 VAS terminals in Zambia. The goal is to enable the majority to accept card payments over the next six months. Benefits to merchants include low transaction fees and no monthly terminal rental fee for those that meet a modest monthly transaction threshold as well as the opportunity to grow their business through card acceptance.

Kazang is Zambia’s largest VAS point-of-sale terminal provider, enabling mobile money payments, bank and mobile money cash in and out, bill payments, airtime, Zesco, and many other prepaid services on one platform. The addition of card acceptance makes the platform even more comprehensive for merchants and consumers alike.

The launch of Kazang Pay in Zambia follows the introduction of the solution in South Africa, where around 60,000 small and micro merchants use Kazang Pay to accept card payments. In Zambia, there are around 3.8 million debit, credit and ATM cards in issue and 41,000 point of sale (POS) terminals in place. The value of POS transactions has grown to K 111.4 billion by 2022 from less than K 20 billion in 2018, according to the Bank of Zambia.

Says Leon de Wit, managing director at Kazang Zambia: “Zambia has made enormous strides in terms of financial inclusion, with card usage and penetration growing at a rapid pace. With Kazang Pay, merchants can now easily accept card payments on the same all-in-one terminal they already use for vending of VAS products.

“Card transactions help merchants to grow basket sizes and potentially attract more customers, and at the same time, reduce the risks and costs of handling cash. Moving towards digitalised payments will also enable merchants to track sales, manage cash flow, and create a footprint that could make it easier for them to access loans.”

Ashley Naidoo, director of Kazang Pay in South Africa says: “Our Zambian merchants have eagerly embraced our card acquiring service as a valuable part of our one-stop solution. Following the launch of Kazang Pay in Zambia, we have seen higher VAS sales across our merchant base and much-improved merchant retention and with our card acquiring solution we now appeal to a broader merchant base.”