Flutterwave secures approval for remittance services in Ghana, enhancing financial inclusion. South Africa is exploring e-voting as a potential electoral improvement. Elon Musk blames Ukraine for a cyberattack on X, which experts attribute to a hacker group. The global smartphone market sees a 7% growth in 2024, signaling recovery after recent declines.
This week’s important news includes Flutterwave’s approval for inward remittance services in Ghana, a statement by Elon Musk regarding a cyberattack on X, and South Africa’s potential move towards electronic voting. These stories reflect significant developments in financial technology, cybersecurity, and electoral processes across regions.
Flutterwave has attained approval from the Bank of Ghana to provide inward remittance services, thus enhancing its role in Africa’s financial technology sector. This approval allows Ghanaians to receive funds from abroad via Flutterwave’s platform, which will further enrich the mobile money landscape of the country. With more than 60% of foreign exchange in Ghana flowing through mobile money, the company’s CEO, Olugbenga ‘GB’ Agboola, emphasized the approval as a pivotal step towards facilitating financial inclusion for the diaspora.
This regulatory achievement is part of Flutterwave’s growth trajectory, following its previous acquisition of a Payment Service Provider license in Ghana and its recent expansion to Zambia. The company now operates in over 35 African nations. Additionally, there are discussions about Flutterwave potentially listing on the Nigerian Exchange, which could position it among Nigeria’s largest companies.
In South Africa, the Electoral Commission (IEC) is contemplating the introduction of electronic voting (e-voting). A recent study indicated that 79% of citizens would be more inclined to vote if e-voting were available. While the IEC is still in preliminary discussions about this change, Chief Electoral Officer Sy Mamabolo highlighted that many factors still require consideration, including digital infrastructure capability, costs, and voter readiness.
Proponents argue that e-voting may expedite the voting process, yield faster results, and reduce costs over time, while simultaneously improving accessibility for people with disabilities. However, challenges such as cybersecurity risks and ensuring equal access for all voters remain critical considerations. Countries like Estonia and India have navigated the e-voting implementation with varying degrees of success, and South Africa would be following in the footsteps of Egypt should it proceed with this initiative.
In a separate incident, X experienced a significant outage attributed to a cyberattack, affecting users worldwide. Elon Musk attributed the incident to a cyberattack allegedly involving resources from Ukraine. However, cybersecurity analysts countered this assertion, attributing the attack to The Dark Storm Team, a hacker group known for executing DDoS attacks.
Recent attacks from The Dark Storm Team have disrupted various services, including notable infrastructure throughout the world. They are not operating in isolation; other groups, such as RedJulliett and Anonymous Sudan, have conducted their own attacks, targeting governmental departments in Kenya. This highlights the rising threat of coordinated cyberattacks against major platforms and institutions.
Finally, the global smartphone market has shown signs of recovery, experiencing a 7% growth in 2024, rebounding to 1.22 billion units after prior declines. Companies such as Xiaomi and TRANSSION have made notable advancements in market share, despite slight downturns for Apple and Samsung, showcasing a dynamic competitive landscape in the tech industry.
In summary, the week’s developments emphasize Flutterwave’s significant growth in Ghana’s fintech arena with its new remittance service, while South Africa deliberates the implications of e-voting on its electoral process. Concurrently, the cybersecurity incident affecting X showcases the ongoing and evolving challenges in digital security. As companies adapt to market trends, the global smartphone sector reflects resilience as it rebounds after previous downturns.
Original Source: thecondia.com
