Co-creation Hub (CcHUB) has unveiled ‘Nyota’, a unique African augmented reality art experience, to showcase and celebrate 24 of the continent’s technology pioneers in Nairobi, Kenya on Thursday.
Details: At the event, Africa’s tech pioneers were celebrated for having contributed immense value to the growth of the innovation and technology ecosystem on the continent, as they were presented with art pieces of their images.
Chief Executive Officer, CcHUB, Bosun Tijani, explained that the art pieces were curated by CcHUB and designed by Mayowa Alabi.
He stated that the pieces were created using digital illustration, which comes to life when viewed through an augmented reality app called ‘Artivive’, and placed over the piece in order to enhance it and create new dimensions of the art as viewers will also download information about the subject’s journey in the tech world.
Tijani said, “Technology is Africa’s fourth industrial revolution, as it powers and impacts lives of millions. There are a number of personalities from across the continent, who have been integral to promoting the technology-at-scale agenda in Africa.
“Nyota is a recognition of these tech leaders, and we are thrilled to be celebrating their work through this incredible augmented reality exhibition. Those included have come up from the trenches; they have paved the way for others in a sector still in its relative infancy, albeit one that is making a massive impact on how Africa operates.”
He added that Nyota is a marker celebrating all that Africa’s technology sector has achieved to date, whilst recognising how much more there is to do.
The Pioneers: The exhibition features 24 of Africa’s tech trailblazers that have paved the way for African tech as we know it. Other tech leaders are Erik Hersman (BRCK), Rebecca Wanjiku (Fireside Communications), Ory Okolloh (Omidyar Networks), Juliana Rotich, Bitange Ndemo (UoN), Dorcas Muthoni (Openworld Ltd.), Gustav Praekelt (Praekelt Group), Strive Masiyiwa (Econet Wireless), Rebecca Enonchong (AppsTech), Nadu Denloye (Telnet Nigeria Ltd.), and Tomi Davies (TVCLabs).
Others are Funke Opeke (Main One Cable), Iyin Aboyeji (An African Future), Mitchell Elegbe (Interswitch), Jason Njoku (CEO of iROKO), Sim Shagaya (Konga), Barbara Birungi (HiveColab), Omar Cisse (InTouch), Emeka Afigbo (Facebook), David Kobia (Lab1886), Estelle Akofio Sowah (CSquared), Ehi Binite (ClearSpace Labs Ltd.), Lucy Quist (Morgan Stanley London), and Herman Chinery-Hesse (theSofttribe).
TikTok’s owner seeks $60 billion valuation in US deal as Oracle, Walmart take stakes
Oracle and Walmart have rights to buy 12.5% and 7.5% respectively of a newly established TikTok Global.
TikTok’s parent company, ByteDance is seeking a valuation of $60 billion for its video-sharing app, as Oracle Corp and Walmart Inc take stakes in the technology firm’s US operations to address the security concerns of the Trump administration.
According to a report from Bloomberg, Oracle and Walmart have rights to buy 12.5% and 7.5% respectively of a newly established TikTok Global under an agreement that has gotten the approval of President Donald Trump.
The duo US firms would be paying a combined amount of $12 billion for their stakes if they reach an agreement with TikTok for the asking price of $60 billion.
The final valuation had not been set as the parties worked out the equity and measures for data security.
It was also stated that China is yet to approve the deal, although regulators are said to have expressed support for any transaction in which BtyeDance still maintains control of its valuable recommendation algorithms and other proprietary technology.
It would be recalled that President Donald Trump, had threatened to ban the ByteDance owned TikTok, over national security concerns, but which some analysts see as part of the row between US and China. This pressured ByteDance into the deal as they looked to avoid the ban by the US government.
The US officials had expressed concern that the personal data of as many as 100 million Americans that use the app were being passed on to the Chinese government.
ByteDance turned down the proposal of a full buyout from Microsoft Corp but rather agreed to Oracle’s offer in which the Chinese parent company will still maintain a majority stake in the technology firm.
Trump told reporters on Saturday, ‘’I approve the deal in concept. If they get it done, that’s great. If they don’t, that’s ok too.’’
Trump’s new stance appears to conflict with his earlier executive order for China’s ByteDance to divest from the video-sharing app’s operations in the United States.
ByteDance is in a race to avoid a ban on TikTok after the US Commerce Department said on Friday that it would block new downloads and updates to the app from Sunday.
According to market researcher, CB Insights, ByteDance is the most valued private start-up in the world at $140 billion. Under the proposed deal, ByteDance may end up owning as much as 80% of TikTok Global, which include the app’s operations in the US and the rest of the world excluding China. Venture firms like Sequoia Capital and General Atlantic may also acquire equity in the new business.
President Trump approves Oracle, Walmart deal with TikTok
Trump approved in principle a deal in which major Oracle and Walmart would partner with TikTok.
President Trump on Saturday night disclosed that he had approved in principle a deal in which major Oracle and Walmart would partner with TikTok in the U.S, thereby allowing the fast-growing social app to maintain operation in the world’s largest economy.
“I have given the deal my blessing if they get it done that’s great if they don’t that’s okay too,” Trump told reporters on the White House South Lawn before departing for North Carolina. “I approved the deal in concept.”
Trump further disclosed the new firm will likely be registered in Texas.
Shortly after Trump’s comments, Oracle announced it was chosen as TikTok’s secure cloud provider and will become a minority investor with a 12.5% stake. Walmart and TikTok could not be immediately reached for comment. Trump said the companies would unveil the full scope of the deal soon.
Oracle CEO Safra Catz spoke elaborately on the deal saying; “We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world.
“This greatly improved security and guaranteed privacy will enable the continued rapid growth of the TikTok user community to benefit all stakeholders.”
Nairametrics, a few days ago broke the news on the proposed plan, awaiting President Trump’s approval, which included Oracle owning a minority stake that will be lower than 20% of the new global TikTok. Walmart, the world’s biggest retailer by revenue will also take a stake, though its amount remains unknown.
While the Chinese authorities have asserted it’s right to obstruct the sale of vital technologies, it is likely to approve the deal as long as it doesn’t involve the transfer of the artificial intelligence algorithms that drive TikTok’s service.
Explore the Nairametrics Research Website for Economic and Financial Data
Facebook to open Lagos office in 2021
When the social media giant comes to Nigeria, it will be its second office on the African continent.
Social Media giant, Facebook announced it would open an office in Lagos in 2021, its second office in the continent and the first in Africa to house software engineers.
This was announced by Facebook Program Manager, Chimdindu Aneke on social media. “We are opening a Facebook office in Lagos, Nigeria later in 2021,” he said.
We are opening a Facebook office in Lagos, Nigeria later in 2021. 😍😍😍
— Chimdi Aneke (@chimdinduaneke) September 18, 2020
He added that the office would be the first in Africa by Facebook for the purpose of engineering and “building for the future of Africa and beyond”.
Media aide to the Presidency, Tolu Ogunlesi quoted Facebook saying, “As part of its continued commitment and ongoing investment in Africa, Facebook today announced it will be opening an office in Lagos, Nigeria – its second office on the African continent.”
“Lagos, Nigeria, September 18, 2020/ — As part of its continued commitment and ongoing investment in Africa, @Facebook today announced it will be opening an office in Lagos, Nigeria – its second office on the African continent.”#InvestNigeria 🇳🇬🇳🇬🇳🇬
— tolu ogunlesi (@toluogunlesi) September 18, 2020
In 2019, Facebook’s biggest market in Africa was Nigeria with 33 million monthly active users.