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8B Education Investments Welcomes the Roots’ Lead Singer and Entrepreneur Tariq “Black Thought” Trotter to Board Position

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2 years ago

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8B Education Investments closes $3m seed raise and adds Trotter alongside David Brown, Managing Partner of Impellent Ventures, to board, continuing the momentum for 8B, which announced a historic $30M debt partnership with Nelnet Bank as part of a broader $111.6M commitment at the 2022 Clinton Global Initiative to accelerate African students’ access to global universities

NEW YORK, United States of America, December 13, 2022/APO Group/ — 

8B Education Investments (8B.africa), the first fintech lender to African students attending global universities, announced two additions to its Board of Directors. Following the close of 8B’s $3 m seed round, Tariq Trotter, a general partner at venture capital firm Impellent Ventures, and the lead lyricist and front man of legendary hip hop group The Roots (bit.ly/3VMozkJ) known as “Black Thought”, will join David Brown, Impellent’s Managing Director, as 8B’s two new board members.

8B Education Investments has built a pioneering platform to connect high-potential African students with world-class colleges and universities, a financing marketplace to research scholarships and compare loan financing options; and a career support function to enable students to realize their highest potential.

With more than 100,000 users on the platform and an ambition to 10x the number of African students in global universities, 8B has built a vibrant community where African students engage with peers, mentors and university experts on all aspects of the highly fragmented and often confusing journey of studying abroad. Students currently visit the platform to identify right-fit colleges, financing options, and careers.

The impact of 8B’s work is in providing global universities and employers a gateway to the world’s fastest growing pool of diverse young talent, while creating a critical mass of African innovators equipped to participate, compete, and thrive in the knowledge economy of the 21st. century. The company plans to use the resources to grow its unique, non-cosigner loan program, expand its education finance marketplace, and build additional product capabilities.

Trotter’s appointment as an observer to the Board of Directors continues the artist, actor, writer, producer, creator and GRAMMY award-winning musician’s passion of supporting underserved entrepreneurs. A leader of the Tonight Show Starring Jimmy Fallon’s house band, and a composer and producer of the critically acclaimed off-Broadway musical Black No More, Trotter joined Impellent Ventures in May 2022.  8B is his first board position.

Through 8B’s work, the numbers of African students attending American schools will grow, especially at Historically Black Colleges and Universitie

“I am honored to join 8B’s Board of Directors and continue my passion in helping and investing in underserved communities,” said Trotter. “Brilliance is evenly distributed everywhere around the world, but for too long, the world has acted as though African brilliance is a rare commodity. Through 8B’s work, the numbers of African students attending American schools will grow, especially at Historically Black Colleges and Universities. This will enrich the university experience for everyone, strengthen the US-Africa relations, and change existing perceptions about the African continent and about people of African descent around the world more broadly.”

David Brown, Managing Director of Impellent Ventures, added: “Until now, talented and high-potential youth across the African continent have had limited access to global universities, depending almost exclusively on winning the scholarship lottery. I am proud that our investment in 8B creates the first scalable solution of its kind providing education financing to Africa’s aspiring and talented future leaders that will unequivocally result in long-term impact on Africa and the world.”

The market need 8B is addressing is clear: 8B estimates that less than 30% of African students accepted into American universities can afford to attend, creating a $25b annual financing gap. Scholarships are too few to meet demand and affordable loan programs focusing on African students do not exist. Yet, Africa’s population of 1.2 billion people is the youngest and fastest growing in the world, with a median age of 19. By 2050, Africa is expected to have the largest working-age population in the world.

“8B is thrilled to close our seed financing and have Tariq Trotter and David Brown join our Board,” said Dr. Lydiah Kemunto Bosire, 8B’s founder and CEO.  “This is Africa’s season, and 8B’s mission requires a scale of investment capital – not philanthropy – that has simply not been available to African students to date. That is why we are thrilled to have found like-minded investors to support us with the cutting-edge ideas, guidance and solutions we need to seize this generational opportunity of unlocking African potential.”

In addition to Trotter and Brown joining its Board of Directors, 8B’s investors in the round include New York Ventures, a division of Empire State Development, and Trueventures.org, the social impact initiative launched by venture capital firm True Ventures. The round also includes 11 experienced investors and operators in the education, finance, and impact ecosystems, including Debra Fine of Fine Capital Partners, Seavest Investment Group CEO Rick Segal, Amplify CEO Larry Berger, and Bryan Meehan, former CEO of Blue Bottle Coffee.

“The opportunity that 8B has identified has been unaddressed for too long,” said Christiaan Vorkink, VP and Director of Trueventures.org. “8B is the kind of world-changing company we are proud to support, and we believe Lydiah and her team have the lived experience and passion to solve an important problem that is too big and complex for charity alone. We look forward to working with the team to help level the playing field for future generations of brilliant young Africans to pursue world-class higher education, changing lives in Africa and beyond.”

This announcement comes a few weeks after the company unveiled a partnership with US-based Nelnet Bank during the 2022 meeting of the Clinton Global Initiative, through which Nelnet will provide $30 million of lending funds over a period of three years to African students looking to receive a higher education at the American universities.  During the Clinton Global Initiative meeting, 8B announced a total of $111.6 million in funding commitments from a range of partners, including the Education Testing Service, the President’s Alliance on Higher Education and Immigration, and World Resources Institute (Africa), unified in their purpose to enable world-class education for the next generation of African innovators, including for the new climate economy.

Distributed by APO Group on behalf of 8B Education Investments.

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Yellow Card Secures Crypto Asset Service Provider Licence in South Africa

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11 hours ago

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November 21, 2024

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Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ — 

Yellow Card (www.YellowCard.io), Africa’s leading stablecoin-based infrastructure provider, has been issued a Crypto Asset Service Provider (CASP) licence by the Financial Sector Conduct Authority (FSCA) in South Africa.  

Commenting on the FSCA’s decision to issue the licence to Yellow Card Financial South Africa, Chris Maurice, Yellow Card’s co-founder and CEO, said, “The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent.This achievement reflects our dedication to providing secure, compliant and transformative solutions for our customers both in South Africa and across Africa.  

The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent

Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%. In South Africa alone, where the number of total users of crypto assets is estimated to amount to 5.8 million people, stablecoins have experienced growth of 50% month over month since October 2023, displacing bitcoin as the country’s most popular cryptocurrency.  Yellow Card is excited to play a pivotal role in this financial revolution in South Africa. 

Yellow Card, which launched in South Africa in 2020, has facilitated over US$3 billion in transactions in the last several years and now operates in 20 countries across the continent. The company recently completed a US$33 million Series C financing, led by Blockchain Capital and existing investors, including Polychain Capital, Valar Ventures, Third Prime Ventures, Coinbase Ventures, and Block, Inc. (Square/Cash App), reflecting strong investor confidence in its mission.   

As the stablecoin landscape continues to evolve, Yellow Card is committed to leading the charge in making digital assets accessible and secure for businesses across Africa. With the recent licensing and funding, the company plans to expand its B2B offerings by enhancing its stablecoin rails, upgrading infrastructure, and advancing its B2B API and Widget. These efforts will empower businesses with seamless solutions for liquidity management and their general operations. 

To learn more about Yellow Card, visit: https://YellowCard.io/. 

Distributed by APO Group on behalf of Yellow Card Financial.

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Telecoming and MTN Partner to Launch cloud gaming in South Africa

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12 hours ago

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November 21, 2024

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MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ —

  • Both companies extend their collaboration to introduce cloud gaming in South Africa.
  • MTN Cloudplay aims to revolutionize digital entertainment with affordable, high-quality gaming access.

MTN, Africa’s leading telecommunications operator with over 290 million subscribers across the continent, announces the launch of Cloudplay, a revolutionary new cloud gaming service, with Telecoming (www.Telecoming.com), a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. This project marks a new milestone in the ongoing collaboration between the two companies.

MTN Cloudplay: A Game Changer

MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles. The service will allow customers to stream high-end PC games to their mobile phones, enabling them to play anywhere, anytime.

This service seeks to democratize access to high-quality mobile gaming for the whole family; including various genres which include retro games and exciting popular gaming titles with multi-device gameplay, at an affordable price of only R79 per month.

Jason Probert, General Manager for Digital Services at MTN South Africa shared his thoughts on the collaboration:

Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month

“We’re thrilled to launch MTN Cloudplay in South Africa. We’re committed to enabling our customers to enjoy the benefits of a modern connected life and the advent of 5G means that it is now possible to stream and play games without the need for a PC or console. Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month.”

Alí Karaosman, MEA Director of Telecoming says “It is very exciting for us to extend our collaboration with MTN, bringing our nearly decade-long experience in this market and supporting the operator in this innovative digital entertainment offering, we are convinced that MTN Cloudplay will revolutionize the way users in South Africa enjoy video games. For Telecoming, this partnership with MTN is a strategic step in our mission to bring esports and innovative digital services to Africa. We are committed to continuing to develop technological solutions that enhance digital leisure for people in the region.”

Service Details

MTN Cloudplay is available to all MTN users in South Africa since November 2024. With a vast library of over 340 games from over 50 publishers, this cloud gaming service offers an unmatched gaming experience on any device.

MTN Cloudplay is accessible to MTN subscribers. Users can visit https://Cloudplay.MTN.co.za to explore the platform and enjoy a wide selection of gaming titles.

Highlights

  • Extensive Game Library: Enjoy classics like Contra, PacMan and Mortal Kombat and modern hits like Hogwarts Legacy and Borderlands 3.
  • Bring Your Own License (BYOL): Access games you’ve purchased on Steam, such as Grand Theft Auto V and Fallout 4.
  • Multi-Device Access: Play on any device and switch seamlessly between them.
  • Low Latency: Experience responsive gameplay with minimal lag.
  • Subscription: Available directly on https://Cloudplay.MTN.co.za or via the MTN Play https://Play.MTN.co.za website for R79 per month.

Distributed by APO Group on behalf of Telecoming.

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rainx Launches the101 Range of 5G Fixed Wireless Access (FWA) Routers for Mobile Network Operators (MNOs)

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1 day ago

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November 20, 2024

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The industry’s smartest and most aesthetically pleasing 5G and Wi-Fi 7 router opens new opportunities for service providers globally

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ — 

rainx, a leader in 5G Fixed Wireless Access (FWA) solutions, has launched the101 range (https://apo-opa.co/40UwYYE), an advanced ecosystem of fixed wireless 5G and Wi-Fi access products designed to meet the high standards of modern Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs) and their customers.

This lineup includes the101 and the101 Pro 5G smart routers, the101 Xtender smart mesh Wi-Fi extender, and the101 Loop – a new category of product designed for today’s always-connected customer, powered by MediaTek. Together, these solutions redefine 5G FWA, enabling operators to enhance network quality, reduce churn, and drive new revenue streams. The routers also offer a collection of 101 skins to suit the users’ style, creating devices that are designed to be on show.

Targeted to the demands of the modern telco

As demand for 5G-enabled FWA continues to surge, MNOs face complex challenges in scaling network capacity and quality for fixed locations, while managing the concurrent load on mobile networks. Recognising this challenge, rainx has engineered the Customer Edge approach, an integrated ecosystem of products and services designed to empower operators to manage and optimise the customer experience. This begins with the101 range of 5G smart routers, which double as network probes, feeding real-time insights to theStation, a smart managed services platform.

theStation provides operators with deep network insights, enabling accurate, proactive decisions on coverage and capacity expansion. Operators can access detailed data on network performance in the home, including Wi-Fi clients, usage patterns, speed and latency – providing proactive support and direct customer communication through the101’s touch screen. This visibility gives MNOs comprehensive control over the entire FWA ecosystem, helping to streamline network load management, anticipate capacity needs, and deliver high-speed connectivity for both residential and commercial customers.

For end-users, the101 range provides an intuitive, self-service interface that empowers customers to manage their network in real time, minimising support needs and enhancing the overall customer experience.

Key Products in the101 Range include:

the101 Pro 5G smart router

Built for premium, high-demand users, the101 Pro offers advanced 5G capabilities with the new MediaTek (MTK) T830 platform that delivers sub-6Ghz 5G with speeds of up to 7 Gbps, Wi-Fi 7 and 300MHz 4 carrier aggregation. The routers offer a range of customisable skins to suit the users’ aesthetic preferences that bring the Pro’s screen to life. Its powerful hardware ensures optimal performance for bandwidth-intensive applications, including cloud gaming.

Our Customer Edge approach provides operators with the deep insights they need to make informed decisions on their networks

Ripple Messaging™ offers MNOs a direct communication channel to the device’s 2.1” touch screen for real-time support and service notifications. It includes a built-in speed test and a “Tap for Support” feature. Additionally, theStation’s managed services enable proactive device management, optimising performance with real-time updates to ensure continuous service quality and reducing operational costs.

the101 5G Smart Router

rainx’s mid-range offering is powered by an MTK T750 platform with 200MHz two carrier aggregation and AX3600 Wi-Fi 6. With a 1.8” touch screen display, it offers smart features like “Scan to Connect”, direct messaging and a built-in speed test. It’s available with a choice of 101 skins to suit customer tastes. the101 also offers managed services through theStation.

the101 Xtender Smart Mesh Wi-Fi

the101 Xtender broadens 5G coverage, enabling MNOs to deliver high-quality, uniform connectivity throughout larger spaces. As part of the mesh network, Xtenders integrate directly with 101 routers, allowing operators to address Wi-Fi coverage gaps and deliver a consistent, high-speed experience across homes or office spaces.

the101 Loop

A new portable 5G router designed for today’s always-connected consumer. With built-in 5G, a 5.5” LCD touch screen, 25W stereo sound and a cinematic camera, the Loop lets you connect in exciting new ways. MNOs can leverage the Loop’s multimedia capabilities to offer premium services, build customer loyalty and create new ARPU (Average Revenue Per User) opportunities through integrated 5G and Wi-Fi.

“Through smart hardware and services, we’re partnering with MNOs and MVNOs to unlock the potential of 5G,” said Brandon Leigh, Founder and Director of rainx. “Our ecosystem empowers operators to monetise latent 5G capacity, create new revenue streams, and addresses the shift from spiky mobile traffic to high, steady usage at fixed locations. Our Customer Edge approach provides operators with the deep insights they need to make informed decisions on their networks, manage the customer experience and generate ROI from 5G.”

“For customers, the 101range allows them to blend their aesthetic preferences with beautiful customisable skins, alongside high-performance engineering powered by the latest MediaTek CPE technology. the101 range delivers a reliable, high-speed connection that stays robust during periods of spiky traffic. The range also offers intuitive self-service features, allowing customers to easily monitor and control their router, reducing the need for support calls and creating a seamless, hands-on user experience that truly puts the power in their hands,” Leigh concluded. 

Rami Osman, Director of Business Development for MediaTek Middle East and Africa, said: “We are excited to collaborate with rainx to increase 5G FWA access across Africa, Asia and abroad to bring the benefits of fast, reliable connectivity to consumers and businesses. The MediaTek T830 has a highly integrated and compact design that provides big power savings and reduces development time and costs for customers like rainx.

“The MediaTek T830 chipset platform represents the latest advancements in both 5G and Wi-Fi connectivity and enables our customers to build extremely high-performance multi-gigabit 5G CPE products in the smallest form factors possible. Users can get a super-fast router at home of office that they can self-install and manage, reducing the lengthy installation times for fixed line broadband,” Osman said.  

Distributed by APO Group on behalf of MediaTek Inc..

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