Hello ______,
Delight here,
Here’s what I have for you today:
- The importance of a legal structure in any startup
- EFCC and its amended case against Binance
- OpenAI, Meta and Orange SA’s African AI model partnership
OpenAI, Meta and Orange SA to roll out AI models in African languages
American artificial intelligence research organisation, OpenAI, together with Facebook parent company Meta and Orange South Africa have partnered to launch an initiative to develop and train AI models in African languages.
The project will use advanced Natural Language Learning (NLPs) techniques to create models for translation, transcription and conversational AI in African languages.
This initiative aims to bridge the linguistic gap in Artificial intelligence, providing solutions tailored to the diverse landscape of the African continent.
Leveraging OpenAI’s advanced framework, Meta's experience in multilingual AI models and tools, and Orange's extensive network in Africa, this partnership will serve as a blueprint for the adoption of AI technologies even for the common man.
Set to roll out in the first half of 2025, the first stage of this project will feature several African dialects including Wolof (the lingua franca in Senegal, Gambia, Mauritius) and Pulaar (Fulani), with Lingala, Swahili and Bambara next on its agenda.
While Orange is set to use these models for customer interactions across its Middle East and African markets, it will offer them for free in the education, health and local business sector.
Give it a try, you can unsubscribe anytime. Privacy Policy.
The collaboration between OpenAI, Meta and Orange SA marks a significant milestone in Africa's AI ecosystem. By prioritising African languages, this initiative not only empowers many Africans but also sets a precedent for creating AI systems that are truly global inclusive.
Startups and the importance of a legal structure
During the early stages of most startups, securing capital, raising funding, attracting investors and getting investments makes up more than half of the work. However, there are some tiny details, often overlooked, that are very critical for startup building.
Most failed startups have one thing in common: they neglect the critical aspects of company building. Founders often underestimate risks, and while experience is the best teacher, it's not always advisable to learn the hard way.
Some of the most overlooked facts include corporate administration, growth management, legal compliance, intellectual property protection and a good startup structure.
According to a 2023 report by the National Bureau of Statistics (NBS), regulatory issues are a top challenge for Nigerian startups, affecting up to 30% of new businesses. Hence it is important to understand the specific compliance prerequisites for your company, to avoid legal pitfalls and ensure sustained achievements.
Well, here comes Edoigiawerie and Company (EandC), bringing legal reforms with over 15 years of experience.
This legal entity concentrates on tech-enabled businesses, mostly startups, remodelling their business ideas, setting a company structure and building a safe mechanism for their intellectual property.
Want to know how that works and more about what they do? Read it here.
EFCC amends court case against Binance
Nigeria’s Economic and Financial Crimes Commission (EFCC) has made changes to the case against Binance and its executive, Nadeem Anjarwalla, who fled the country during the trial period.
In February 2024, two Binance executives, Timbran Gambaryan and Nadeem Anjarwalla were arrested with Nadeem fleeing not long after.
This amended six-count charge comes a month after Binance’s executive, Timbran Gambaryan was released and the charges against him dropped, ending months of tussle between the EFCC and the company executive.
Apparently, the case was filed against the cryptocurrency company and its executives for allegedly laundering the $34.5 million which was the money generated by the company in Nigeria.
Now, in addition to the laundering charge, the company was accused of operating as a financial institution without obtaining a valid licence and also breaching the Foreign Exchange Act by illegally negotiating exchange rates.
Upon the release of Timbran Gambaryan, the court had agreed on the amendment of the charge, however, both the company’s executives and the defending counsel were absent from the trial. Hence, a plea of “not guilty” was decided according to Section 478 of the Administration of Criminal Justice Act.
Due to the absence, the court case was adjourned till February 24th and 25th, 2024.
In case you missed them
- Raknida receives $100k grant as it expands into the US
- MultiChoice fights Competition Commission ruling over SABC deal
What I'm watching and reading
- Revive the Ocean: A climate change documentary film
- Jeffry Gotimer’s Little Red Book of Selling: The 12.5 principles
Opportunities
- Join Opeyemi Olugbemiro at Pitch Friday on December 13, 2024 and discover the art of storytelling that wins customers. Apply here.
- Flutterwave is currently looking to fill several vacancies. Apply here.
- Moniepoint is hiring for several roles. Apply here.
- Follow Techpoint Africa's WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a wonderful Wednesday!
Sunny Delight for Techpoint Africa.
