Flutterwave has gained approval for inward remittance services in Ghana, enhancing financial inclusion. South Africa is exploring e-voting, with a significant public interest. Elon Musk blamed Ukraine for a cyberattack on X, although experts point to a different source. The global smartphone market has rebounded, showing signs of growth after years of decline.
This week’s notable news includes Flutterwave’s recent approval for inward remittance services in Ghana, Elon Musk’s accusation regarding a cyberattack on X, and South Africa’s contemplation of electronic voting. Flutterwave’s approval enhances its role within the African fintech landscape, indicating significant expansion potential for cross-border money transfers.
Flutterwave has been granted authorization by the Bank of Ghana to facilitate inward remittance services. This green light allows Ghanaians to receive international funds through its platform, bolstering the country’s mobile money ecosystem. With mobile transactions constituting over 60% of Ghana’s foreign exchange, the CEO, Olugbenga ‘GB’ Agboola, emphasized that this service paves the way for improved financial inclusion for the Ghanaian diaspora.
This approval follows Flutterwave’s acquisition of a Payment Service Provider license last year, and its recent entry into Zambia’s market, affirming its presence in over 35 African nations. In Nigeria, discussions around a potential listing on the Nigerian Exchange (NGX) are underway, which could position Flutterwave among the country’s largest enterprises.
In South Africa, the Electoral Commission (IEC) is evaluating the implementation of electronic voting (e-voting). A recent survey indicates that 79% of South Africans would be inclined to vote if e-voting were available. The IEC’s Chief Electoral Officer, Sy Mamabolo, underscored that these discussions are preliminary; key matters such as digital infrastructure capacity and voter readiness remain critical.
Proponents of e-voting advocate for reduced waiting times, quicker results, and enhanced accessibility for individuals with disabilities. However, concerns arise regarding cybersecurity threats, potential technical issues, and equitable access to the digital platforms.
Countries like Estonia and India have tested e-voting with varying degrees of success, while Egypt recently rolled out e-voting and governmental service apps this year to improve election processes. Should South Africa proceed with its e-voting initiative, it would join these nations in modernizing the voting experience.
Elon Musk addressed the recent X outage, which affected users globally, attributing the disruption to a cyberattack with supposed links to Ukraine. He claimed the attack involved substantial resources, indicating that hackers utilized IP addresses traced back to Ukraine.
Contrarily, cybersecurity experts from Check Point Research suggest that the attacks were the work of The Dark Storm Team, a pro-Palestinian hacker collective notorious for executing Distributed Denial of Service (DDoS) attacks. This incident is part of a larger trend of attacks against X by various hacking groups, signaling a growing wave of digital threats.
In recent market developments, the global smartphone sector has exhibited a resurgence, growing by 7% in 2024. Companies like Xiaomi and TRANSSION have demonstrated significant sales increases, with Xiaomi rising 15% and TRANSSION breaking into the top four smartphone manufacturers.
In conclusion, Flutterwave’s recent approval in Ghana represents a substantial advancement in the African fintech domain, enhancing cross-border financial transactions. Additionally, South Africa’s exploration of e-voting signals a shift towards modernization in voter engagement, despite underlying challenges. Meanwhile, Elon Musk’s allegations regarding cyber threats to X highlight ongoing cybersecurity concerns, which are echoed by the actions of various hacker groups. The smartphone market’s rebound indicates a shift in global consumer technology trends.
Original Source: thecondia.com
