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Supported By
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Good morning!
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Today we begin with Nestcoin CEO, Yele Bademosi's take on what the crypto ecosystem needs to move forward– less restrictions.
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Also, Tizeti has taken up a new ambitious project in partnership with Microsoft. It will be part of a project to bring broadband internet to underserved communities in Cote d’Ívoire.
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If this newsletter was forwarded to you, click here to subscribe now.
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Below are the tech stories and news you need to know to start your day, carefully curated by Technext.
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Summary of the news
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- Meta is expected to face a record privacy fine on Monday
- Tizeti has entered a partnership with Microsoft to bring broadband internet to underdeveloped areas of Cote d’Ívoire
- Jia has raised $4.3 million in seed funding
- Egypt has sold its 9.5% stake in state-run Telecom Egypt Co.
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Ecosystem
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- Tizeti has entered a partnership with Microsoft to bring broadband internet to underdeveloped areas of Cote d’Ívoire. "The partnership aims to provide affordable and reliable high-speed internet access to underserved communities and people in the country," Tizeti said in a statement. (Twitter)
- Egypt's Axis has launched axisPay, a digital payments platform for the North African market after securing a license from the Central Bank of Egypt (CBE), to complement its open-loop mobile wallet. (TechCrunch)
- Nestcoin CEO, Yele Bademosi has called for fewer restrictions on crypto, arguing that restrictions and not lack of utility is the top problem crypto is facing. “The problem with crypto generally is not its lack of utility, but the restriction around the utility due to the nature of where the initial use cases are coming from,” he said. (Techpoint Africa)
- Jia, a blockchain-based fintech providing loans to micro and small businesses in emerging markets, has raised $4.3 million in seed funding, and an additional $1 million commitment for on-chain liquidity. (TechCrunch)
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Policy
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- Egypt has sold its 9.5% stake in state-run Telecom Egypt Co., raising more than 3.7 billion Egyptian pounds ($121 million) as part of its bid to divest its stake in 32 companies by June and raise $2 billion for the country. (Bloomberg)
- Ghana's Public Utilities Regulatory Commission has raised the average end-user electricity tariff for the second quarter of 2023 by 18.36%, just after a 29.63% hike in Q1. (Nairametrics)
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Social Tech
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- WhatsApp has launched Chat Lock, which lets users put conversations in a folder that can only be accessed with their device’s password. "Our passion is to find new ways to help keep your messages private and secure," WhatsApp said. (Meta)
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Global News
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- Elon Musk has warned Tesla shareholders to expect a difficult year because of an unsteady global economy and high-interest rates. “This is going to be a challenging 12 months. Tesla is not immune to the global economic environment," he said. (New York Times)
- An American judge has ruled that Theranos founder, Elizabeth Holmes must report to prison on May 30th. The US District Court Judge Edward Davila denied Holmes’ request to stay out of prison while she appeals her fraud conviction and 11-year sentence. (TheVerge)
- India has unveiled a $2.1 billion financial incentive plan to draw makers of laptops, tablets and other hardware to the South Asian nation as companies look to diversify supply chains beyond China. (Bloomberg)
- Meta is expected to face a record privacy fine on Monday when Ireland’s Data Protection Commission confirms the social media platform mishandled people’s data when shipping it to the United States. (Politico)
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Other stories we are following
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