News - Afrikan Heroes

Customer Funds at Risk: Togo’s Moov Money Flooz Asks Customers to Reset Security Code

October 26, 2023

In Togo, electronic money transactions through the Money Flooz service, provided by telecommunications operator Moov Africa Togo, have been severely disrupted for over five days due to a technical incident, leaving customers in a state of inconvenience. The incident has disrupted various financial transactions, including money transfers within the country, electricity meter top-ups (Cash Power), mobile credit purchases, and internet package subscriptions. Furthermore, international transfers, particularly from Cote d’Ivoire, have also been affected, leading to grievances from subscribers.

Moov Africa Togo, in a statement, expressed their apologies to their subscribers for any inconvenience caused by this technical incident, but the exact nature of the problem was not disclosed at this time. Moov Money Flooz, a service that allows subscribers to perform financial transactions through their mobile phones, is gradually returning to normal. However, this prolonged service disruption, along with a lack of information on when it would be fully restored, has left many customers frustrated.

To mitigate the impact of the disruption, Moov Africa Togo has provided instructions for subscribers to reset their security codes, especially for those who have already received the Flooz message with their default security code. They’ve also encouraged subscribers who haven’t received a message to contact customer service or visit a Moov Africa branch for assistance. Updating security codes is seen as a crucial step to enhance transaction security and protect users from unauthorized access to their accounts.

Despite Moov Africa Togo’s efforts to resolve the situation, the General Directorate of the Electronic Communications and Postal Regulatory Authority (ARCEP) has initiated a sanction procedure against the operator. According to ARCEP, Moov Africa Togo failed to comply with its obligations, as stipulated by Article 27.1 and Article 37.4 of its specifications. Article 27.1 requires the operator to ensure the continuous availability of authorized services and the adaptation of means. Article 37.4 mandates the operator to inform customers about the nature of the problem and the estimated time for service restoration in case of disruptions. ARCEP’s Decision №068/ARCEP/DG/21 of March 11, 2021, also highlights the necessity for operators to notify users when service incidents exceed two hours.

From October 19 to October 24, 2023, Moov Africa Togo’s Mobile Money service was completely unavailable nationwide, and the operator failed to send automated incident notification messages to subscribers, which has raised concerns about the operator’s responsibility in ensuring continuous service availability.

The ARCEP has emphasized the vital importance of mobile financial services in the daily lives of Togo’s population and has called on all operators to adhere to their obligations regarding the continuous availability of their services, especially Mobile Money services. The prolonged unavailability, coupled with the lack of information on service restoration, is seen as a potential threat to the well-being of the people of Togo who rely on these services for various financial transactions. The sanction procedure initiated by ARCEP will likely have legal and financial implications for Moov Africa Togo, raising questions about the need for increased regulatory oversight in the country’s telecommunications and mobile financial services sector.

Bitcoin Breaks 2023 Records to Highest Leap in The Year

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

South Korea Turns to Africa for Key EV Battery Material

October 25, 2023

South Korea is looking to African countries to secure graphite as China tightens its exports controls over the key material used in electric vehicle batteries.

Mozambique and Tanzania are among countries that South Korea plans to tap into to address potential shortfalls, the trade ministry said on Monday in a statement. Last week China strengthened export controls on some categories of graphite in a move it said will “safeguard national security and interests”.

China is the world’s largest producer of graphite and its announcement has raised alarm among major South Korean battery makers. Beijing said it will place graphite deemed highly sensitive under “dual-use item” export controls from 1 December.

South Korea will expand high-level diplomatic dialogue with China to ensure smooth graphite imports

Graphite is essential for producing EV battery anodes, a terminal inside a rechargeable cell. China’s announcement came days after the US bolstered efforts to keep advanced chip technology out of China. Beijing said its measures don’t target any specific country.

South Korea will expand high-level diplomatic dialogue with China to ensure smooth graphite imports, the trade ministry said. It will also seek to bring forward the operational start of a domestic synthetic graphite factory currently scheduled to open next year while bolstering the development of silicon anodes as an alternative to graphite.

Korea’s announcement came after officials met with representatives from major battery industry players — LG Energy Solution, SK On, Samsung SDI and Posco Future M. The country relies heavily on imports to produce everything from semiconductors to EV batteries.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Bitcoin Fires Up Amazing Bulls Run

A bitcoin rally fuelled by optimism about fresh demand from exchange-traded funds may have further to run if history is any guide. The largest digital asset posted a 9.8% jump in the seven days to Sunday — the biggest weekly advance since June — as traders bet on the possible approval in coming weeks of the first US ETFs investing directly in the token.

In the past five years, weekly gains of at least that magnitude presaged a 10% average bitcoin climb over the subsequent month. The token rose 3.2% to trade at US$30 818 as of 7.21am SAST on Monday. Smaller coins also rallied, including a 3.3% increase in ether to $1 695. Some argue these funds will bring new inflows into the highest-profile cryptocurrency

Asset managers BlackRock and Fidelity Investments are among the fund firms in the race to offer a spot bitcoin ETF in the US. Some argue these funds will bring new inflows into the highest-profile cryptocurrency.

“The drums seem to be beating louder that a bitcoin ETF will be approved by year-end, which would be supportive for the token in the medium term as it will likely bring more institutional players into the space,” said Tony Sycamore, a market analyst at IG Australia.

Bitcoin is also “finding support from the shift in tone by Federal Reserve speakers”, Sycamore said, citing Fed comments hinting at reduced need for another interest rate hike following a tightening in financial conditions.

The US Securities and Exchange Commission has so far resisted spot bitcoin ETFs on risks such as fraud and manipulation in the underlying market. The applications from investment titans stoked speculation that the US agency will relent.

Bitcoin Trust

The regulator also recently indicated it won’t appeal a court ruling that may pave the way for the $18.4-billion Grayscale Bitcoin Trust to convert to an ETF.

Bloomberg Intelligence analysts Elliott Stein and James Seyffart have said “approval of a spot bitcoin ETF looks inevitable” and that a batch of funds is likely to be given the green light, though the exact timing remains uncertain.

The SEC has already allowed ETFs that hold bitcoin and ether futures. The agency overall has cracked down on crypto following last year’s market rout and blow-ups like the bankruptcy of the FTX exchange amid fraud allegations.

Bitcoin has rebounded 87% this year, outstripping the 44% gain in a gauge of the 100 largest tokens. It now accounts for almost 50% of the $1.2-trillion digital-asset market, a type of dominance it last had in 2021, CoinGecko figures show. The digital asset remains well below its 2021 record of nearly $69 000.

“Volatility in bitcoin has the potential to escalate further,” said Caroline Bowler, CEO at crypto platform BTC Markets.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Kenya and Angola to Resume Direct Flights to Spur Trade

October 24, 2023

Kenya and Angola will push for the resumption of direct flights between Nairobi and Luanda as part of their efforts to spur bilateral trade. President William Ruto said Kenya-Angola trade has been on the rise in the past four years.

However, he observed that more needs to be done to unlock the underlying potential.

“There is a huge scope for these numbers to go up if we strengthen our interconnection.”

Besides flights, the Head of State announced the activation of a visa-free regime to ease the free movement of people.

“Angolans coming to Kenya will not require a visa. Angola will equally consider the same for Kenyans,” said President Ruto.

This, he added, will facilitate a wider interaction of diverse ideas, resources and businesses. He was speaking at State House, Nairobi, when he held talks with his Angola counterpart João Lourenço.

The two leaders also had a joint media briefing where Kenya pledged to support Angola’s candidature for membership in the African Union Peace and Security Council. During the event, 11 legal instruments were signed.

They include on wildlife and conservation, shipping and maritime, mining, youth affairs, forestry, agriculture, ICT, oil and gas, health, diplomacy and public service.

President Lourenço told the media that the instruments provide a rich foundation for the growth of Kenya-Angola relations.

“This will usher in a new era of our common prosperity,” he said.

In the event were Deputy President Rigathi Gachagua, Prime Cabinet Secretary Musalia Mudavadi, Cabinet Secretaries, among others.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

MTN Appoints David Behr as Head of New ICT Centre

MTN has appointed David Behr, a former Liquid Intelligent Technologies executive as CEO of its new ICT Centre of Excellence. In the new role, which he will assume on 1 November, Behr will “accelerate” MTN’s cloud, cybersecurity, internet-of-things and platform solutions for enterprise customers.

The Centre of Excellence (CoE) is a centralised unit in MTN that will “develop and promote best practices, processes and standards for the business”. It will “drive platform and solution development to deploy to business units for execution and customer implementation”.

Behr founded one of Zimbabwe’s first internet service providers in 1995. His experience in developing CoEs will help MTN achieve the enterprise scale it requires across its 19 operating markets,” it added.

Behr founded one of Zimbabwe’s first internet service providers in 1995. In 2012, he joined Liquid Intelligent Technologies and is currently CEO of Liquid C2. Behr will succeed Vaughn Naidoo, who held the CEO position at the CoE on an interim basis.

Behr has an MBA from Harvard Business School and an MSc in electrical and electronic engineering from the University of Bristol.

MTN said its “Ambition 2025” strategy relies on the development of world-class ICT solutions. “Behr’s appointment perfectly aligns with these strategic objectives, particularly in maximising its strategic alliance with ‘hyperscalers’ (large cloud computing infrastructure providers) and other essential partners.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

FNB Plans to Help Clients Reduce Their Personal Carbon Emissions

First National Bank has launched a new “nav Earth” feature in the FNB app to helping its clients understand the impact of their carbon emissions and find ways to reduce them. FNB, using international methodologies, estimates a monthly carbon emissions score based on an individual’s transactional spend data. The tool provides a “peer comparison model” to assist customers in benchmarking their carbon footprint against others.

Nav Earth also offers a “carbon coach” on climate change impacts and actions one can take to donate to carbon offsetting causes, using cash or eBucks, to improve one’s carbon emissions score.

The tool provides a ‘peer comparison model’ to assist customers in benchmarking their carbon footprint.

“By providing customers with the ability to monitor their carbon footprint and offering practical guidance on how to reduce it, the average citizen can contribute to the global agenda and resist climate change,” said the bank’s private segment CEO Sizwe Nxedlana in a statement.

“Nav Earth provides customers with actionable insights based on their activities and recommends easy ways to mitigate the adverse impact on the environment.”

Customers can access nav Earth under the “navigate life” tab in the FNB app.

FNB recently announced plans to equip 100 of its branches with solar power, and earlier this year launched nav Energy to help access alternative energy solutions.

The bank is part of national treasury’s energy loan scheme, which provides funding at lower interest rates for consumers and businesses to install alternative energy solutions such as solar.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

FIFA President in Tanzania for the African Football League

The FIFA President has visited Tanzania where he attended the opening ceremony and inaugural match of the African League Football (AFL), the new competition which is set to transform club football on the continent. Gianni Infantino watched home side Simba Sports Club face Egyptian club Al Ahly FC in the company of the CAF President, Patrice Motsepe, and the President of the Tanzania Football Federation (TFF), Wallace Karia. The quarter-final first leg match ended 2-2.

“I am pleased to be in Dar es Salaam for the launch of the new African Football League. I am also discussing football development with the Tanzania Football Federation President, Wallace Karia, who is welcoming us so well here, and other African Federations presidents,” Mr Infantino said.

The AFL is the latest result of the fruitful partnership between CAF and FIFA, and its debut format will bring together eight of Africa’s most famous and successful teams — increasing to 24 in 2024 — with the aim of highlighting the quality of the game on the continent.

The other ties are: Tout Puissant Mazembe (Congo DR) v Espérance Sportive de Tunis (Tunisia), Enyimba Football Club (Nigeria) v Wydad Athletic Club (Morocco) and Atlético Petróleos de Luanda (Angola) v Mamelodi Sundowns FC (South Africa).

“I want to thank the CAF President, Patrice Motsepe, and the whole of African football for their initiatives in constantly developing football in Africa,” said Mr Infantino, who took part in the unveiling of the trophy before the match. He added that the AFL would herald the start of a new era of increased spotlight, accelerated growth, and development for African football.

The FIFA President also laid the foundation stone for second stage of construction of the TFF’s Kigamboni Technical Centre in Dar es Salaam which, like the Tanga Technical Centre on the north coast, is a FIFA Forward project. The FIFA Forward development programme is available to all 211 member associations to fund projects such as the building of pitches, technical centres and the organisation of competitions.

FIFA Chief of Global Football Development Arsène Wenger and Chairman of FIFA Referees Committee Pierluigi Collina were also part of the FIFA delegation.

Mr Wenger said the centre would play a key role in helping Tanzania identify and develop talented players. “We have four to five years in front of us and, if we do it well, I’m sure that we’ll have good players everywhere in Tanzania,” he said.

Mr Infantino said he was delighted to lay the foundation stone and that the centre was “sure to be an excellent facility for helping to develop local football talent.”

He added: “Many congratulations to CAF President, Patrice Motsepe, and Tanzania Football Federation President, Wallace Karia, for the initiatives undertaken in giving opportunities to young girls and boys to live their football dreams.”

“The development of our beautiful game is a symbol of hope and I am looking forward to continuing our good work together.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Verod Capital and AfricInvest Join Forces to Acquire iSON Xperiences

Verod Capital and AfricInvest are excited to announce their acquisition of a majority stake in iSON Xperiences, a prominent ICT solutions provider in Africa. iSON Xperiences, a leading customer service and outsourcing company, specializes in delivering BPO, business process management, and digital customer experience solutions across Africa, the United Arab Emirates, and India. Serving over 500 million end-users in diverse sectors, the company employs more than 18,000 individuals across 19 countries, with 16 in Africa.

Verod Capital, a well-known African investment management firm specializing in private equity, has added iSON Xperiences to its portfolio through the Verod Capital Growth Fund III. AfricInvest, a leading pan-African investment platform, is renewing its commitment to iSON Xperiences through AfricInvest Funds III and IV.

As iSON Xperiences embarks on its next chapter with AfricInvest and Verod, the company is committed to enhancing its position in Africa. The new capital infusion will enable diversification of services and expansion into new markets, with a focus on integrating digital tools for improved customer operations, enhanced customer experiences, and agent productivity.

iSON Xperiences’ BPO services create high-quality job opportunities in developing nations, with a strong commitment to gender equality, as women make up 54% of the workforce and hold nearly a third of line management positions.

Danladi Verheijen, Co-Founder and Managing Partner at Verod Capital, expressed his enthusiasm for the partnership, highlighting Africa’s potential for BPO services and the transformative impact of AI on addressing financial challenges.

Hakim Khelifa, Senior Partner at AfricInvest, emphasized their belief in iSON’s potential to create employment in developing nations and their goal to expand into new countries and offer more value-added services.

Pravin Kumar, Global CEO at iSON Xperiences, stated the company’s commitment to job creation and service excellence through digital transformation, with a primary focus on offshore hard currency revenue.

Verod is an African investment management firm specializing in private equity, with a focus on high-growth businesses in Anglophone West Africa.

AfricInvest is a leading pan-African investment platform engaged in various alternative asset classes, including private equity and venture capital.

iSON Xperiences is a top global Customer Experience Management (CXM) player in Africa, providing flexible enablement solutions for businesses looking to scale their workforce, operations, or debt collection solutions in the region.

Tingo Group Strengthens Nigerian Presence Amidst Fraud Allegations

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

The Catholic Bishops’ Conference of Ethiopia Expressed Regret Over Loss of Lives in Tigray

October 23, 2023

The Tigray regional government of Ethiopia is informing families of those who lost their lives in the war in Tigray. It has been said that many are in deep grief of losing their dear ones and family members. Considering this the Catholic Bishops’ Conference of Ethiopia (CBCE) (www.CBCE-gs.org) on October 17^th, 2023, has released a message of condolences to families, all Ethiopians, and our Church in Tigray.

The Message highlights that Ethiopia has gone through various political systems over the past years and through many of these times conflict has been experienced in diverse ways. Due to that many have lost their precious lives, and many were injured. Tigray, Amhara, Afar, Oromia, Benishangul Gumz, South, Somali, and Gambella are some of the primary areas that Ethiopia has experienced war and conflicts.

Catholic Bishops’ Conference of Ethiopia, src google.com

CBCE strongly condemned all parties to prioritize the culture of dialogue and understanding and to stop causing misery in citizens. The press release adds “Our Church grieves with those who mourn, and cries with those who cry. But according to the commandment of the Lord, the Church’s sorrow relies on her hope in Christ, who resurrected over death.”

Continuing the statement, the Bishops have asked to stop the ongoing war the Amhara region and express the church’s’ sorrow for the people who are still dying. At the end, they call up on all individuals to learn from mistakes and repent to God for what has been done in the past and live only in fraternal spirituality.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Egypt Speaks on The Cairo Peace Summit

At the invitation of the Arab Republic of Egypt, leaders, heads of government, and envoys of a number of regional and international countries met in Cairo on Saturday, October 21, 2023, to consult and explore ways to advance efforts toward containing the aggravating crisis in the Gaza Strip and toward military de-escalation between the Israeli and Palestinian sides. Escalation has claimed thousands of innocent civilian lives since the outbreak of armed confrontations on October 7.

By calling for this summit, the Arab Republic of Egypt sought to build international consensus that transcends cultures, races, religions, and political stances, the core of which is the values of humanity and its collective conscience that rejects violence, terrorism, and unlawful killing of souls, that calls for an end to the ongoing war that has claimed the lives of thousands of innocent civilians on both the Palestinian and Israeli sides, that demands upholding the rules of international law and international humanitarian law, that underscores the ultimate importance of protecting civilians and of not exposing them to dangers and threats and that gives special priority to providing access, ensuring the flow of humanitarian and relief aid, and delivering it to the right beneficiaries from the people of the Gaza Strip. This consensus also warns of the dangers of the current conflict spreading to other areas of the region.

Egypt looked forward for the participants to launch a global call for peace, in which they agree on the importance of re-assessing the international strategy for addressing the Palestinian issue over the past decades so as to emerge from the current crisis with a new political spirit and will that pave the way for unlocking a real and serious peace process. This shall lead, in a short period of time, to the establishment of an independent Palestinian State, along the June 1967 borders, with East Jerusalem as its capital.

The international scene over the past decades has revealed a serious deficiency in finding a just and lasting solution to the Palestinian issue, because it sought to manage the conflict, and not end it permanently. It confined itself to offering temporary solutions and analgesics that do not live up to the minimum aspirations of a people who have suffered for more than 80 years of foreign occupation and attempts to obliterate identity and loss of hope. The ongoing war has also disclosed a shortcoming in the values of the international community in addressing crises. While we see one place rushing and competing to promptly condemn the killing of innocent people, we find incomprehensible hesitation in denouncing the same act in another place. We even see attempts to justify this killing, as if the life of the Palestinian human being is less important than that of other people.

The lives lost every day during the current crisis and the women and children trembling in terror under the air strikes around the clock compel the international community’s response to be commensurate with the gravity of the event. The right of the Palestinian person is not excluded from others whom the rules of international humanitarian law include or from international conventions that address human rights. The Palestinian people must enjoy all the rights enjoyed by other peoples, starting with the utmost right, which is the right to life, and their right to find safe housing, decent health care, and education for their children and above all they must have a state that embodies their identity and to which they are proud to belong.

The Arab Republic of Egypt, which took the initiative to call for the Peace Summit, expresses its deep appreciation to the countries and organizations that responded to the invitation despite time constraints.

On this occasion, it confirms that it will spare no effort in continuing to work with all partners in order to achieve the goals that called for holding this summit, regardless of the difficulties or the duration of the conflict. Egypt will always maintain its firm position in support of Palestinian rights, believing in peace as a strategic and irreversible option until the vision of a two-state solution, Palestinian and Israeli, living side by side is realized.

Within the framework of Egypt’s efforts to achieve these noble goals, it will never accept calls to liquidate the Palestinian cause at the expense of any country in the region. It will not relent for a moment in safeguarding its sovereignty and national security under increasingly dangerous and threatening circumstances and situations, relying on the help of Allah Almighty and the will and determination of its people.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry