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Lack of Public Infrastructure Hinders Electric Vehicle Adoption in Urban Areas, New Study Reveals

Juniper Research’s Report Highlights the Urgent Need for Improved Charging Infrastructure and Business Models to Boost EV Adoption

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Juniper Research, a leading authority in the sustainability and IoT market, has shed light on a critical issue hindering the widespread adoption of Electric Vehicles (EVs) in urban environments – the lack of public infrastructure for charging.

As cities across the globe strive to reduce carbon emissions and combat climate change, the report underscores the vital role that an efficient and accessible charging network plays in promoting EV adoption.

The study, titled “EV Charging: Key Opportunities, Regional Analysis & Market Forecasts 2023-2027,” reveals that while the number of EV charging points is projected to grow substantially from 14.2 million in 2023 to 45 million in 2027, there remains a significant disparity between public and home charger adoption.

By 2027, it is anticipated that over twice as many home chargers will be in service compared to public chargers, indicating a major hurdle for those living in apartments and flats who typically lack the option of installing home chargers.

The absence of an easily accessible charging infrastructure in urban areas poses a substantial obstacle to prospective EV owners, dampening enthusiasm for EV adoption. This challenge necessitates innovative solutions and new business models within the EV charging space, as present government initiatives alone are deemed insufficient to accelerate EV adoption.

Nick Maynard, co-author of the report, emphasizes that regulators’ efforts, such as mandating charging points in new buildings, are commendable but inadequate in addressing the broader issue. Collaboration between EV charging networks, city authorities, and other stakeholders is crucial to identify and rectify gaps in the charging infrastructure. Failure to do so may continue to limit the overall environmental benefits of widespread EV adoption.

One of the key findings of the study points to the problem of fragmentation in charging networks, which prevails even in regions with significant EV growth, such as North America. The existence of various charging rates, payment systems, and access requirements complicates the charging experience for consumers, hindering the sector’s expansion. The urgent need for charging network simplification and interoperability is stressed, and the report calls for regulatory intervention to harmonize charging systems.

To bridge the gap between home and public chargers and create a seamless charging experience for EV owners, the report recommends improving shared data on charging point distribution and forging partnerships to expedite infrastructure deployment in strategic areas.

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Fintech

Flutterwave Celebrates Inclusion in CNBC’s Top 250 Global Fintechs

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Flutterwave has been recognized as one of the Top 250 Fintech companies globally by CNBC and Statista.

Joining the ranks of industry giants like Ali Pay, Klarna, Piggyvest, and Mastercard, this accolade underscores Flutterwave’s impact on the financial technology sector.

This honor follows Flutterwave’s recent inclusion in Fast Company’s Most Innovative Companies list, highlighting the company’s pivotal role in transforming Africa’s payment landscape.

The recognition is a testament to Flutterwave’s dedication to innovation and excellence in providing seamless payment solutions across the continent.

Expressing gratitude, Flutterwave acknowledged its talented team, supportive board, reliable partners, and loyal customers for contributing to this success.

The company continues to drive progress in the fintech industry, reinforcing its commitment to enhancing financial accessibility and inclusion in Africa and beyond.

Flutterwave’s recognition on these prestigious lists marks a proud moment and a significant milestone in its journey, reflecting the company’s growing influence and leadership in the global fintech arena.

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Startups

Google Leads $250 Million Funding Round for Glance

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A logo is pictured at Google's European Engineering Center in Zurich

Google is leading a $250 million funding round for Glance, a mobile content provider.

This infusion of capital aims to expand Glance’s reach and solidify its market position amidst growing competition.

Glance, a subsidiary of InMobi Group, offers a unique service that delivers news, entertainment, and other content directly to users’ mobile screens without unlocking their devices.

With a user base exceeding 300 million across India, the US, Japan, and Indonesia, the startup has gained significant traction since its inception in 2019.

The funding round, expected to close in the coming weeks, marks a continued partnership between Google and Glance.

Google initially invested in the company in 2020, and this latest round will further enhance Glance’s capabilities to innovate and reach new audiences.

This investment reflects Google’s strategic interest in India, the world’s most populous nation, where it competes with tech giants like Microsoft, Meta, and Amazon.

With India’s rapidly growing middle class and increasing smartphone adoption, the market presents vast opportunities for digital expansion.

The support from Google comes on the heels of a previous $200 million investment by Mukesh Ambani, Asia’s wealthiest individual, which valued Glance at over $1 billion.

The startup’s largest stakeholder, InMobi, continues to thrive as a pioneer in mobile advertising, with Glance benefiting from its expertise and resources.

As Glance prepares for this new phase of growth, it stands poised to redefine how content is consumed on mobile devices worldwide.

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Technology

Cyber Threats Surge as Nigeria’s Digital Economy Expands

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cybercrime - Investors King

As Nigeria’s digital economy flourishes, it faces escalating cyber threats, prompting the Federal Government to issue 33 cyberattack advisories in the past year.

These warnings, issued by the Nigeria Computer and Emergency Response Team (ngCERT), highlight the growing vulnerability of the nation’s digital infrastructure.

Since July 2023, ngCERT has alerted Nigerians to new attack methods and vulnerabilities. With 22 advisories issued in 2024 alone, the surge in cyberattacks coincides with the accelerated digitization spurred by the COVID-19 pandemic.

Monthly internet usage in Nigeria soared from 125,149.86 terabytes in December 2019 to 753,388.77 terabytes in March 2024.

The National Information Technology Development Agency (NITDA) notes that increased digitalization has heightened cybersecurity risks, necessitating robust protective measures.

According to Check Point Research, Nigerian businesses face approximately 2,308 attacks weekly across all sectors.

The advisories reveal various cyber threats, including ransomware and banking trojans. A recent warning highlighted Grandoreiro, a malware targeting over 1,500 banks globally, affecting 41 banking applications in Nigeria alone.

These attacks aim to steal sensitive financial data, potentially causing significant financial losses.

Nigeria’s critical infrastructure is also under threat. In August, pro-Nigerien hackers attempted to disrupt MTN Nigeria’s network, although they were unsuccessful.

During the 2023 elections, the government recorded 12.99 million cyberattacks, underscoring the scale of the threat.

Cybercrime costs Nigeria about $500 million annually. This includes data damage, stolen money, lost productivity, and post-attack disruptions.

The Federal Bureau of Investigation ranked Nigeria as the 16th country worst affected by cybercrime in 2020.

Experts emphasize the need for stronger cybersecurity measures. Adesina Sodiya, a professor of Computer Science and Information Security, warns that cyberattacks will continue to grow in sophistication.

He stresses the importance of building a cybersecurity curriculum and involving experts in creating effective strategies.

In response, NITDA plans to reduce cyberattacks by 40% by 2027. “As we digitize, we must build with security in mind,” said Kashifu Inuwa, director-general of NITDA.

The agency aims to implement comprehensive strategies to protect Nigeria’s burgeoning digital economy.

As Nigeria’s digital economy expands, it must address the growing cyber threats that accompany this progress. By enhancing cybersecurity measures and fostering collaboration among stakeholders, Nigeria can safeguard its digital future.

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