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Nigerian technology company Moniepoint secures $110 million investment

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Moniepoint, a Nigerian fintech company that serves thousands and thousands of entrepreneurs across Africa, has secured $110 million in financing for expand your corporation. The financing got here from 4 entities: London Development Partners International and Lightrock, which had previously invested within the company; The recent investors are the Google African Investment Fund and Verod Capital.

Moniepoint – formerly called TeamApt –was named fastest growing fintech company in accordance with Financial Times for 2 years.

The company provides quite a lot of financial services, including bank accounts, loans and business management services. It processes over 800 million transactions monthly value over PLN 7 billion.

Moniepointe co-founder Tosin Eniolorunda says the brand new investor will provide financing help the company improve customer experience.

“Our mission is to assist our customers solve their challenges by making our platform more progressive, transparent and secure. Proceeds from this fundraising will speed up our efforts towards financial inclusion and supporting Africa’s entrepreneurial potential. I need to sincerely thank all the Moniepoint team for making this achievement possible, ” – said Eniolorunda in a press release shared Afrotech.

Adefolarin Ogunsanya, Partner at Development Partners International, also expressed his excitement to contribute to the event of Moniepoint.

“We are delighted to steer this investment round in Moniepoint, one of the vital exciting and fastest growing corporations in Africa. As a profitable company led by a wonderful management team with a transparent strategic vision, Moniepoint is well positioned to proceed its impressive growth trajectory while ensuring financial inclusion for vulnerable businesses and individuals across Africa, Afrotech reports.

Moniepoint officials say they are going to proceed to prioritize Nigeria, however the company plans to expand into other African countries. The company is currently assessing these markets to evaluate how effectively it may well operate meet customer needs.

The successful fintech company has previously received support from QED Investors, British International Investment (BII) and Endeavor Catalyst. Since its founding in 2015, the company has raised over $180 million.


This article was originally published on : www.blackenterprise.com
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Indonesia blocks Google Pixel sales after iPhone 16 ban

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Indonesia has banned the sale of Google Pixel smartphones for failing to satisfy national content requirements, days after blocking Apple’s iPhone 16 in (*16*) Asia’s largest phone market.

Indonesia’s Ministry of Industry said Google phones can’t be traded until they meet regulations requiring smartphones sold in Indonesia to have 40% local content.

Before resuming sales, Google must obtain certification for local content, Industry Ministry spokesman Febri Hendri Antoni Arief told local reporters. “The Local Content Policy and related policies aim to be fair to all investors investing in Indonesia and to add value and deepen the industry structure in the country,” Hendri was quoted as saying.

The ban follows Indonesia block regarding the sale of the iPhone 16 last week after Apple defaulted on a $95 million investment commitment. Major smartphone makers must produce devices, develop firmware or spend money on local innovation to satisfy Indonesian content rules.

Indonesian regulations require tech firms to source 40% of cell phone and tablet components from inside the country, which may be met through local manufacturing, firmware development or direct investment in innovation projects.

Companies can meet the necessities in various ways. For example, Samsung and Xiaomi opened production plants, and Apple decided to open developer academies.

The regulation, enforced through a certification system called “local content level”, is a component of Indonesia’s broader industrial policy to leverage its large consumer marketplace for national economic development. Companies that fail to satisfy these thresholds face sales restrictions.

Neither Google nor Apple are among the many top five smartphone brands in Indonesia, based on research firm Counterpoint.

This article was originally published on : techcrunch.com
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Hiring managers reject AI-generated job offers from job seekers

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Statistics show that many job seekers exaggerate or falsely provide details on their CVs, and an increasing variety of hiring managers take a dim view of individuals using artificial intelligence in job applications.

A brand new survey from the CV Genius research team revealed that 80% of hiring managers dislike AI-generated cover letters and resumes, and 74% say they’ll tell when AI has been utilized in a job application. Hiring managers prefer human-written applications over AI and consider that candidates using AI are perceived as repetitive, generic, and lazy.

A survey of 625 hiring managers found that over half (57%) are much less prone to hire a candidate who has used AI of their application, and should disqualify a candidate altogether if they think AI has been used.

“Job seekers must learn to use AI as an asset, not a shortcut.” This is Ethan David Lee, profession expert at CV Genius. “Hiring managers don’t mind AI in apps, but when it’s used carelessly, the result feels impersonal and unremarkable.”

“In the world of artificial intelligence, it is more important than ever for candidates to show their human side,” Lee added. “This doesn’t mean job seekers shouldn’t use AI, but they need to use it carefully if they want it to improve their chances.”

In response to the growing variety of job seekers using artificial intelligence of their job search, CV Genius released as, offering recommendations on tips on how to use AI to enhance applications without raising red flags for hiring managers. Highlighting that AI may be helpful if done thoughtfully, the guide offers six suggestions to assist job seekers effectively use AI to enhance their applications.

Avoid relying solely on AI

Artificial intelligence should support, not replace, your job application efforts. While it’s superb to make use of AI as a writing aid, ensure each application is tailored to your specific role and company.

Check for exaggerations and inaccuracies

AI’s tendency to exaggerate or fabricate achievements and experiences can hurt you in a job interview. Always fact-check your AI-generated CV and canopy letter to make sure accuracy. If you secure an interview, be able to support every claim made in your application.

Include personal experiences and specific examples

AI often uses generic phrases, which can lead to CVs and canopy letters appearing polished but lacking specific evidence. Recruiters recommend avoiding this error by adding personal elements that Autobot AI cannot generate.

Avoid using common AI typing patterns

AI-generated content often shows consistent patterns, including easy, formal writing styles and repeated phrases. When using artificial intelligence to create a CV and canopy letter, it’s crucial to review and edit the generated content and replace any words or phrases that appear repeatedly or seem out of context.

Make sure your wording/vocabulary is consistent in your CV, cover letter and interview

Another sign of AI-generated content is a mismatch in writing tone between your CV and canopy letter, which might make it difficult to match the personality of your AI-generated application during a real-world job interview.

Use AI Checkers to review your CV and canopy letter

To prevent your applications from being rejected, run them through multiple AI detection tools before submitting and check all marked sections to make sure they match your unique voice and elegance.


This article was originally published on : www.blackenterprise.com
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Carl Pei says Nothing can’t build its own operating system

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Two mobile operating systems currently account for nearly 100% of the worldwide smartphone market. Building one is difficult, and most phone manufacturers offer higher use of resources, especially when Android is at your fingertips. While it is a potential differentiator, these firms have largely chosen to take care of Google’s mobile operating system, customized with skins and unique features.

Huawei recently bucked this trend by releasing Harmony OS, although this was a direct results of geopolitical restrictions on the usage of American products. However, despite its vast resources, the Chinese electronics giant has faced enormous difficulties in attempting to build its own alternative to Android.

Given its propensity to shake up the market, it’s perhaps not entirely surprising that London-based Nothing was capable of build its own mobile operating system from scratch. On Wednesday at TechCrunch Disrupt 2024, founder and CEO Carl Pei confirmed that the corporate is exploring what an actual Nothing operating system could seem like.

Pei praised smartphones as “our most important gateway to the people we care about and the information we need to use,” while criticizing the duopoly of Google and Apple within the industry.

“We’re figuring out how to maneuver here,” he added, “and possibly create something of our own. Some operating system.

The goal of such a move can be to expand Nothing’s influence within the industry while creating a completely recent revenue stream.

“Now you can influence the software,” Pei explained. “You can change the way people use their devices. On the business side, it is also very profitable. In some respects, being a hardware company sucks because of the supply chain, high capital expenditure, low margins, and high risk of product-market fit. In many ways, having some software revenue is much more convenient: higher margins. However, I think that the most important thing is still consumer satisfaction.”

The founder said he thinks the strategy of making a mobile operating system has turn into much easier because of the recent boom in artificial intelligence. Such technology will even go an extended approach to providing a level of customization that’s missing from existing platforms.

“If you think about the technical stack of an operating system, I don’t think we need to work on the lower parts of the stack – the drivers and how the hardware interfaces with the software and the kernel,” Pei added. “I don’t think we need to work on it, but we should work on user experience innovation because operating systems haven’t really changed in 40 years. These computers, smartphones and these devices have a lot of information about us. We do so much for them, but they don’t use any of this information to improve their experience.”

Asked whether the corporate expected to boost funds for such a project, Pei declined to comment.

“I don’t think it has to be much of an experience,” he said. This is applied artificial intelligence, it shouldn’t be the idea. We don’t build capabilities, we do not train large language models, we do not build text-to-speech or anything like that. That ship has sailed and it’s going to turn into extremely competitive. Two or three players will win big and the remainder will lose money.

Pei continues, “Whether we get funding or not, we can work on it.”

Artificial intelligence can be a crucial element of such an operating system, he explained, but it surely wouldn’t mean every thing.

“We shouldn’t call it an AI operating system,” he said. “Artificial intelligence is just a tool and ultimately it comes down to who can produce the best product, who has the best market fit and who can deliver the highest user satisfaction. Because without it, it just won’t work.”

This article was originally published on : techcrunch.com
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