This week on the Techpoint Africa Podcast, we discuss the top stories in Africa's tech space from this week and 2023. Its a full house, and the whole gang is in the studio.
First, we talk about the story that had Nigerians reeling from shock on Monday. News of the country's National Agency for Food and Drug Administration and Control raid on manufacturers of fake soda broke on Monday. Nigerians took to social media to share their experiences with fake products, ranging from beverages to food condiments and even medications. Our consensus: drink water and mind your business.
Well, that is everyone except journalists.
And on the subject of journalists not minding their businesses, Emmanuel shares the backstory behind the story he published last week on how fraudsters exploit loopholes in OPay, PalmPay to hijack identities. He also shares how the story emboldened victims to come forward with their experiences, the statements from the fintech companies in question, and the backlash from ecosystem sleuths. The good news is, both fintechs have taken steps to close these loopholes.
Chimgozirim then gives us the latest update on the ongoing back and forth between Tingo's CEO, Mmobuosi Odogwu Banye, also known as Dozy Mmuobosi.
The US Securities and Exchange Commission has charged Dozy with defrauding investors at three companies by inflating the financial performance of three of his companies: Tingo Group, Agri-Fintech Holdings, and Tingo International Holdings.
Then Bolu tells us what led to the termination of the acquisition of Figma by Adobe. Remember that sometime in September, news was Adobe would be buying out the collaborative design platform, Figma for approximately $20 billion in cash and stock?
Well, the deal will not be going through due to regulatory problems, and Adobe is now mandated to pay Figma a $1 billion termination fee.
Emmanuel mentions MTN Group partnering with Starlink, OneWeb, and AST SpaceMobile to increase Internet connectivity in Africa, before casting our minds back to some of the major stories we discussed this year on the Techpoint Africa podcast.
Be the smartest in the room
This is the last episode of the podcast for the year but we'll be back on the January 11, 2024, with some changes to the podcast, but until then, season's greetings and happy felicitations.
You can catch up on the conversation on Google Podcasts, Apple Podcasts, Spotify, YouTube, and anywhere you get your podcasts. You can also send your questions and observations to [email protected] or share your thoughts using the hashtag #TechpointAfricaPodcast.