TechStream

Technology news around the ecosystem!

From Lagos to Nairobi

We give you summaries of happenings around tech, from developer stand-ups to the boardrooms.

  • Tano Digital Solutions Wins 2024 Top Cloud Performance Award

    Tano Digital Solutions has won the 2024 Top Cloud Performance Award, recognizing its excellence in cloud and AI-driven digital transformation. The company has also expanded its expertise in SAP innovations, with a strong focus on the Jouel AI solution. Over two days, the team explored new advancements aimed at improving client services and optimizing cloud…

  • South Sudan launches first-ever instant payments system three years after proposal

    Developed in partnership with the AfricaNenda Foundation, NIPS aims to improve payment efficiency, reduce costs, and enhance financial inclusion for over 6 million adults with limited banking access. Before NIPS, mobile money providers like MTN and Zain dominated payments due to the absence of a domestic or regional instant payment system. Now, NIPS integrates with…

  • Tech Giant IBM Exits Direct Operations in West African Markets

    IBM is exiting direct operations in 36 African countries, including Nigeria and Ghana, by transferring its business to MIBB, a subsidiary of Midis Group. This transition, set to take effect from April 1, 2025, marks the end of IBM’s 50-year presence in the region. MIBB will now oversee IBM’s software, hardware, cloud services, and consulting…

  • Meta to begin laying off 3,000 employees in Africa

    Meta has begun another round of layoffs, affecting 3,000 employees across Africa, Europe, and Asia. The job cuts, starting today, February 10, 2024, will primarily target the company’s “lowest performers” and account for about 5% of its workforce. Unlike previous layoffs, Meta is not shutting down offices or making big public announcements—instead, affected employees will…

  • Israeli unicorn StarkWare launches $4 million fund to invest in African blockchain startups

    StarkWare, an Israeli blockchain company valued at $8 billion, has launched a $4 million fund to support pre-seed and seed-stage African startups developing blockchain solutions. The fund will provide grants of up to $150,000, with larger investments available for startups building on StarkNet, StarkWare’s decentralized application platform on the Ethereum blockchain. The initiative targets high-potential…

  • Uganda detains nine finance officials over $16.87 million central bank hack

    Ugandan authorities have arrested nine officials from the Ministry of Finance following a major cyberattack on the Bank of Uganda, which led to the loss of USh 62 billion ($16.87 million). Among those detained are senior Treasury Department officials, raising concerns about potential internal corruption or negligence. The cyber breach, first reported in November 2024,…