Connect with us

Tech

Meta faces $220 million fine from Nigeria for breaking consumer, data rules

Published

on

Nigeria’s competition watchdog has fined Meta Platforms $220 million after findings that data-sharing on social media platforms breached regional consumer, privacy, and data protection rules.

According to the Federal Competition and Consumer Protection Commission (FCCPC) of Nigeria, Meta exploited its market dominance by forcing users to agree to exploitative privacy policies, appropriated the data of Nigerian users on its platforms without their consent, and treated Nigerians differently and discriminatorily than people in other jurisdictions with comparable laws.

Meta refrained from commenting right away, but the FCCPC stated in a statement that the business had given some papers and had hired attorneys who had interacted with the agency.

The investigations, which lasted more than 38 months, were conducted in tandem with Nigeria’s Data Protection Commission, according to FCCPC head Adamu Abdullahi. He also claimed that the investigations revealed that Meta policies do not give users the choice or chance to decide for themselves whether or not to provide consent for the collection, use, and sharing of personal data.

“The totality of the investigation has concluded that Meta over the protracted period has engaged in conduct that constituted multiple and repeated, as well as continuing infringements… particularly, but not limited to abusive, and invasive practices against data subjects in Nigeria,” Abdullahi said.

“Being satisfied with the significant evidence on the record, and that Meta has been provided every opportunity to articulate any position, representations, refutations, explanations or defences of their conduct, the Commission has now entered a final order and issued a penalty against Meta,” Abdullahi said.

 

According to Abdullahi, the final ruling specifies the procedures that Meta must follow in order to abide with local legislation.

Turkey’s Competition Board penalized Meta 1.2 billion lira in May after looking into data-sharing on the company’s WhatsApp, Facebook, Instagram, and Threads services.

Meta has encountered opposition in Europe and other regions due to purported violations of data privacy regulations. Europe has expressed disapproval of Meta’s proposal to develop its artificial intelligence algorithms using personal data without obtaining authorization.

In the meantime, intentions to look into whether digital platforms, like Meta, unfairly compete with news publishers by leveraging their content to earn ad revenue have been announced by South Africa’s competition authority.

Tech

Zambian fintech Union54 partners with Paymentology to launch virtual Mastercard debit cards

Published

on

Zambian fintech, Union54, has partnered with next-generation payment platform, Paymentology, to launch virtual Mastercard debit cards on its ChitChat social platform.

Perseus Mlambo, CEO of Union54, who made the disclosure in a statement on Friday, said the partnership was timely as it was coming at a time of rapid growth in Zambia’s digital payments sector.

“With 16.4 million mobile connections representing 78.7% of the population, and a projected market growth for digital payments of 16.12% from 2023 to 2027, reaching a size of US$8,441.00 million, Zambia is primed for innovation in financial services,” he said.

“By integrating communication and secure financial transactions on one platform, Union54’s ChitChat has the potential to drive significant economic growth, foster entrepreneurship, and enhance financial inclusion throughout Africa.

“Building on the recent launch of Union54’s ChitChat—a messaging app with an integrated payment wallet—this collaboration introduces a USD virtual Mastercard debit card to the platform.

‘Leveraging over two decades of expertise, Paymentology provides its next-generation payment platform to support Union54’s expansion of ChitChat in Zambia and other African markets during this critical growth phase.”

Union54 which was founded in 2021 by entrepreneurs Mlambo and Alessandra Martini, has quickly gained prominence in Africa’s fintech sector with its flagship product, ChitChat, enabling users to communicate, network, transfer money between wallets, convert USD to local currencies, and send in-app funds to other ChitChat users.

“With the help of Paymentology’s cloud-first, API-driven technology, users can now conduct both in-person and online transactions using their ChitChat virtual Mastercard debit card,” Mlambo said.

“The internet has transformative potential for both individuals and governments. Our goal is to create secure and efficient spaces for communication and transactions. Partnering with Paymentology provides us with the reliability, security, and scalability needed to elevate our offerings. This collaboration will empower our customers with the advanced tools necessary for seamless communication and financial transactions.”

Continue Reading

Tech

South Africa’s WomHub partners Visa Foundation to launch ‘STEM is Everywhere’ for female entrepreneurs

Published

on

South African female empowerment organisation, WomHub, has signed a partnership deal with Visa Foundation to launch the ‘STEM is Everywhere” programme which is designed to empower and support early-stage female founders in STEM (Science, Technology, Engineering, and Mining and Manufacturing) businesses.

CEO of WomHub, Anjani Harjeven, who announced the deal, said the ‘STEM is Everywhere” programme will provide female entrepreneurs with business resources, coaching, and access to WomHub’s innovation and tech hubs and networks.

“WomHub is a leading organisation dedicated to empowering women and girls in STEM, which through education, mentorship, and support strives to create a diverse and inclusive engineering and tech industry,” she said.

“Through this partnership, WomHub and Visa Foundation are committed to closing the gender gap and unlocking the full potential of female entrepreneurs in South Africa. The ‘STEM is Everywhere” programme will support approximately 100 entrepreneurs in South Africa.

“This initiative aligns with our mission to empower women and girls in STEM, breaking down barriers and creating opportunities for the next generation of female leaders,” said Harjeven.

Continue Reading

EDITOR’S PICK

Metro9 hours ago

Navigating free speech in Zambia: Balancing democracy, national security

Zambia, like many countries, stands to gain from robust free speech, but it also faces challenges from what some describe...

Culture10 hours ago

Algeria to host Afreximbank’s CANEX 2024

The African Export-Import Bank (Afreximbank) has announced that the 2024 edition of its Creative Africa Nexus (CANEX 2024) will hold...

Sports10 hours ago

Paris to name sports venue after late Ugandan Olympian set on fire by ex-boyfriend

Following the demise of Ugandan Olympian marathon runner, Rebecca Cheptegei, who died after her ex-boyfriend set her on fire, the...

Tech10 hours ago

Zambian fintech Union54 partners with Paymentology to launch virtual Mastercard debit cards

Zambian fintech, Union54, has partnered with next-generation payment platform, Paymentology, to launch virtual Mastercard debit cards on its ChitChat social...

VenturesNow13 hours ago

Nigeria’s ARN Foods partners Canada’s AGI Miltec for rice milling plants

One of Nigeria’s commodities trading organisations, A.R.N Foods, is making the move into rice milling and production. To process high-quality...

Metro13 hours ago

‘I took hard decisions for Nigeria’s development’, Tinubu tells China-based Nigerians

Nigeria’s President Bola Ahmed Tinubu has reiterated that the decisions he has taken since he became the Nigerian leader last...

Politics1 day ago

Tunisia: Presidential contender Zammel remains in detention despite being legally discharged

After being arrested on Monday, and his release ordered by a judge on Thursday, Tunisian presidential contender, Ayachi Zammel, remained...

Metro1 day ago

Kenya experiences second major blackout in weeks

Although 70% of consumers had their electricity restored by late afternoon, Kenya experienced its second significant blackout in as many...

Musings From Abroad1 day ago

UN indicts warring parties in Sudan, calls for peacekeepers

A United Nations-mandated panel stated on Friday that both sides in Sudan’s civil war had engaged in acts that may...

VenturesNow1 day ago

Zimbabwe looks to private companies to increase rail freight volumes

To increase freight volumes that had fallen as a result of decades of underinvestment, Zimbabwe’s state-owned railway operator has opened...

Trending