Marhaba,
Victoria from Techpoint here,
Here's what I've got for you today:
- Meta removes 63,000 Facebook profiles linked to Yahoo Boys
- Where are Nigeria's EV startups?
- Netflix hiking prices in Nigeria… again
Meta removes 63,000 Facebook profiles linked to Yahoo Boys
Meta posted a whole blog about Nigeria yesterday, and let's just say, it wasn't flattering.
Here goes: The Facebook parent company has taken down about 63,000 Facebook profiles in Nigeria involved in financial sextortion scams.
These scams usually involve scammers pretending to be attractive women to trick victims into sending nude photos. Once they get the photos, they threaten to release them publicly unless a ransom is paid.
Besides these profiles, Meta also removed around 7,200 resources, including 1,300 Facebook profiles, 200 Pages, and 5,700 Groups. These were used to run the scams, offering tips, scripted conversations, and links to image collections for creating fake identities.
Meta found that most financial sextortion attempts targeted adult men in the US, but they weren’t very successful. However, they did find some cases where minors were targeted, which they reported to the National Center for Missing and Exploited Children.
Financial sextortion, like many other crimes, knows no borders. There has been a noticeable increase in scammers targeting people worldwide, often led by Nigerian cybercriminals known as Yahoo Boys. These fraudsters engage in various scams, including financial sextortion.
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Sextortion often starts with romance scams, and Nigeria has a significant role in online romance fraud across Africa. Scammers are also increasingly targeting mobile games for exploitation.
To combat this, Meta is testing new technology to protect users from sextortion scams. One feature being tested is an auto-blur function in Instagram DMs, which automatically blurs images if nudity is detected.
Where are Nigeria's EV startups?
Did you know that 95% of the global EV market is dominated by China, the US, and Europe? Well, you can probably imagine Nigeria does not dominate any of the 5% left.
But that's not to say we don't have EV people trying to carve out a slice of the global EV market for us.
In his latest article, Bolu unveils six innovative Nigerian companies that are bravely venturing into the EV market. Despite facing significant challenges such as infrastructure and funding, these startups are pioneering homegrown solutions tailored to the unique needs of their local market.
Find out how MAX is revolutionising logistics with electric motorcycles, Jet Motor Company is producing electric cargo vans suited for Nigerian roads, and other key players like Siltech and Trekk are embracing technology to promote eco-friendly transportation.
With insights on their achievements and ambitions, the article highlights the potential of Nigeria’s EV sector and delves into the future of sustainable mobility in Africa. Discover the new frontiers of innovation in the heart of Nigeria here.
Netflix hikes prices in Nigeria… again
Netflix has once again hiked its subscription prices in Nigeria. This is the second increase in just four months, with the last one occurring on April 1, 2024.
Why, though? 2023 was a tough year for Netflix, with subscriber losses and increased competition from other streaming services like Showmax.
Per the latest update on Netflix’s website, the Premium plan now costs ₦7,000 ($4.40) per month, up from ₦5,000 ($3.14), marking a 40% increase.
The Standard plan, which is quite popular among Nigerians for its HD quality and multi-screen options, has jumped by 37.5% from ₦4,000 ($2.51) to ₦5,500 ($3.46).
The Basic plan has gone up by 21% from ₦2,900 ($1.82) to ₦3,500 ($2.20), and the Mobile plan has increased from ₦1,600 ($1.01) to ₦2,200 ($1.38).
This price hike comes when Nigerians face tough economic conditions, with the cost of almost everything going up. Many people are being forced to prioritise essentials over luxuries, and with these new prices, some might have to cut out Netflix altogether.
Let's rewind to the first hike in April 2024: The streaming giant raised the Premium plan from ₦4,400 ($2.76) to ₦5,000 ($3.14). The Standard plan went from ₦3,600 ($2.26) to ₦4,000 ($2.51), and the Mobile plan increased from ₦1,200 ($0.75) to ₦1,600 ($1.01). The Basic plan stayed at ₦2,900 ($1.82).
Perhaps, there's a silver lining? Netflix Co-CEO Ted Sarandos recently confirmed that the platform will begin testing a lower-priced, ad-supported subscription tier called "Basic with Ads."
Want my take? I'm not settling for ads; I cannot quit Netflix. I mean, how else will I unwind? If you've got some suggestions, please share. Yeah, I'm open to trying new things. 😂
Sidebar Alert: Netflix isn't the only streaming giant hiking subscripion fees on the continent. Showmax announced new prices in January 2024 and then raised them again in July 2024, except for their Premier League package.
In case you missed it
- Bolt drivers with 40% acceptance rate eligible for 15% commission bonus, lower than minimum 60% rate
- ACDT warns Ghanaian banks of cyberattack risks amid global IT failure
What I'm watching
- An Honest Explanation of the Nigerian Civil War | The Biafran Story
Opportunities
- Are you a tech professional in Africa? Take a few minutes to fill this questionnaire about your job among others. You also stand a chance at winning 100 Euros.
- Ventures Platform has over 100 job openings across its portfolio companies. Apply here.
- Bubusplug is organising a one-day hybrid event for jobseekers in collaboration with the Young African Leaders Initiative(YALI) Lagos Network July 27, 2024. Apply here.
Have a terrific Thursday!
Victoria Fakiya for Techpoint Africa.
