Tech

Internet operations disrupted in South Africa after network cables snapped

Published

1 year ago

August 13, 2023

Internet operations in South Africa have been disrupted after two undersea communication cables that are critical for network operators snapped.

The situation affected the Congo Canyon on August 6, causing the failure of both the South Atlantic Telecommunications Cable number three (SAT-3) and the West Africa Cable System (WACS) cables, leading to slow internet connection in some parts of the country.

One of the largest internet networks, Cloudflare, “noticed considerable degradation from the cut,” according to Anne-Caroline Tanguy, director of public relations for Europe, Africa, the Middle East, and Asia.

“As all South African networks are currently experiencing a crunch in capacity due to this cut, we saw an increase in traffic, which took some time to mitigate,” said Tanguy.

According to Tanguy, some organizations will only have capacity on one or two lines, and some cables are significantly more expensive to use than other connections.

Another major internet operator, Vodafone, through its spokesperson, Byron Kennedy, said that some “disruption in traffic flows,” was to be expected from the cable breaks.

“The unplanned, sudden removal of key routes like WACS and SAT-3 can be expected to result in initial disruption in traffic flows,” said Kennedy.

Openserve, another internet service provider, says only users of the services for international private leased circuits will be impacted by the network outages. According to the statement, “our investment in other international cable capacity” has ensured that Openserve’s network “remains robust.”

Related Topics:Featured Internet Network South Africa

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Tech

MTN Nigeria set to acquire two more licences for its fintech

Published

8 hours ago

November 7, 2024

Isaac Dachen

Nigeria’s largest telecommunications company, MTN Nigeria, is on the verge of obtaining two licences that will enable it expand its fintech subsidiary, MoMo PSB, signaling an increased focus on digital payments within Nigeria.

The company, in a statement on Wednesday, said it has applied for Payment Service Solutions Provider (PSSP) and Payment Terminal Service Provider (PTSP) licenses for Momo in a bid to upscale it to a full fledge payments platform.

“The PSSP license will enable MoMo PSB to offer payment processing gateways, create financial solutions, and provide merchant aggregation and collection services,” the statement said.

“With this license, MTN can process its payments in-house, reducing its reliance on external PSSPs and minimizing associated costs.

“In addition to addressing MTN’s internal payment needs, MoMo PSB will also be equipped to handle payment processing requirements for merchants and partners.

“The PTSP license, meanwhile, will allow MoMo PSB to deploy and service POS terminals, develop POS applications, and provide training and support to over 302,000 merchants, agents, and 5.3 million users on the MoMo PSB,” it added.

Tech

Kenyan fintech Chumz expands into Rwanda after hitting 200k users

Published

1 day ago

November 6, 2024

Isaac Dachen

Kenya’s fintech startup, Chumz, has announced its imminent expansion into Rwanda after hitting 200,000 registered users in its home market.

Chumz, which helps users set and achieve saving and investment goals through behaviour-based prompts and mobile money deposits, said the expansion drive was part of testing its solution by going live in Rwanda.

Co-founder and CEO of Chumz, Samuel Njuguna, who spoke on the move, said the fintech had built a goal-based mobile app that helped users save and invest money from their mobile money accounts, with as little as $0.05 and wanted to take its offering out of Kenya.

He stated that one of the unique features of Chumz that stands it out is that it encourages users to save based on their behaviour.

“For instance, if a user spends money at a pub, the app suggests investing some of that money instead of spending it all,” he said.

“Similarly, if a user receives mobile money, the app prompts them to save some of the money. Our app offers an easy, convenient and accessible way for users to save and invest, helping them to reach their financial goals.

“Our next big leap is to hit one million users in Kenya by 2026 and be operational in Uganda, Tanzania and Botswana by then as well,” said Njuguna, who is also behind Kenyan mobile money startup Chura.

Founded in 2019, Chumz worked on a prototype in 2020, reaching out to the regulator for a license in late-2020 and receiving one a year later.

According to several reviews, the platform works by channeling funds collected from a user’s mobile money account to a licensed fund manager, who then offers a return to the fund. Earned interest is then redistributed to individual clients.

The startup has also launched a new feature, the Superfan Challenge, where users save and invest based on their favourite football team’s performance.

“For example, if your team wins, the app prompts you to save a set amount. We have seen segments such as parents using the app to educate their kids about financial literacy and at the same time create goals for them on the app. A majority of the savers and investors are women,” Njuguna said.