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Nigerian Innovation One of Six Hack The Planet Finalists Offering Climate and Ocean Solutions

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After an unprecedented pan-Commonwealth search for innovative satellite-driven solutions to tackle the challenges of the climate emergency and ocean sustainability, the Satellite Applications Catapult and the Commonwealth Secretariat are delighted to announce the inaugural finalists of the Hack the Planet competition 2021.

The six finalists include inspiring leaders with game-changing solutions that leverage the power of satellites to make a real difference in the Commonwealth and the world.

They will now enter the final stage of the competition for a live pitch event, where they will pitch their concepts to a panel of expert judges.

There is a prize-pool of £20,000 plus over £85,000 worth of satellite data and cloud computing services for the winners of the competition.

The finalists are:

·       CAPELLA (The Gambia) – an idea which combines machine learning and satellite imagery to provide data on illegal, unregulated and unreported fishing in Africa and to address the challenge of ocean plastic pollution.

·       Loop Recyclers Tech (Nigeria) – this concept uses the power of geospatial data and the Internet of Things to monitor and improve recycling rates for plastics and prevent plastics reaching rivers and the ocean.  The solution aims to reduce pollution levels, prevent illegal waste disposal and address public health issues.

·       Marine Wildlife Tracking with Snapper GPS (UK) – an impressive and novel solution which will change the way conservationists monitor marine animals. The idea focusses on animals which only spend short periods at the surface of the ocean and are therefore normally difficult to track.

·       Plastic-i: Mapping Ocean Plastics from Space (UK) – a solution which will combine data from multiple high-resolution Earth-observing satellite constellations, combined with machine learning to create a highly specific map of floating ocean plastic, to be offered open-source and updated daily.

·       Project 30 (Trinidad and Tobago) – a project looking to streamline the Marine Protected Area (MPA) selection and evaluation process, using high-resolution satellite imagery, analysed via machine learning. Ultimately the team plan for their tool to be used by Governments, NGOs and conservation professionals to manage and designate MPAs.

·       Terangi Team (Malaysia) – a wide-reaching idea that aims to deliver a toolbox of important environmental monitoring capabilities in a single technology platform.  The toolbox includes modules for marine conservation areas, climate change monitoring, water quality, and the analysis of potential environmental threats.

The ideas and commitment demonstrated by all six finalists to delivering real-world change greatly impressed the judges, who offered them their congratulations on reaching the final stage of the competition.

Earlier in the competition, 30 shortlisted teams were invited to participate in a rigorous, knowledge exchange programme where they learnt about satellite technologies and elements of design thinking that could support their ideas, and hone these into robust, compelling pitches.

The final event will be livestreamed on 14th October from 12:00 BST. To find out more and register to attend click here.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood

Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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