Flutterwave Gains Approval in Ghana; South Africa Considers E-Voting; Elon Musk Links Cyberattack to Ukraine

This week, Flutterwave gained approval for incoming remittance services in Ghana, enhancing its role in the fintech sector. Concurrently, South Africa is exploring e-voting to increase voter participation, while Elon Musk attributed a recent X outage to a cyberattack. The global smartphone market is also projected to rebound with significant growth in 2024.

This week’s Condia Insider highlights significant developments, particularly Flutterwave’s recent approval from the Bank of Ghana, allowing it to provide inward remittance services. This advancement enhances Flutterwave’s standing in Africa’s fintech sector and facilitates easier fund transfers for Ghanaians abroad. The CEO, Olugbenga ‘GB’ Agboola, hailed this milestone as pivotal for financial inclusion.

This regulatory achievement follows Flutterwave’s earlier successes, including the acquisition of a Payment Service Provider license in Ghana and recent operational approval in Zambia. Flutterwave now encompasses operations in over 35 countries, indicating its expanding influence in the region. Additionally, in Nigeria, there is an ongoing push for Flutterwave to list on the Nigerian Exchange (NGX), which would elevate the company’s stature.

In South Africa, the Electoral Commission is exploring the feasibility of electronic voting (e-voting). A study reveals that 79% of South Africans would be more inclined to vote if given this option. Although discussions are in preliminary stages, concerns regarding digital infrastructure, costs, and voter readiness remain prominent. Advocates assert that e-voting could enhance accessibility and efficiency, despite potential cybersecurity risks and technical challenges.

Meanwhile, Elon Musk attributed a recent X platform outage to a cyberattack, implicating Ukraine. In his statements, he indicated that the attack involved substantial resources and was likely orchestrated from Ukrainian IP addresses. Contrarily, cybersecurity experts suggest that the incident was a result of a coordinated DDoS attack by a hacker group named The Dark Storm Team.

This hacking group has gained notoriety for various disruptive cyberattacks and has demonstrated capabilities targeting notable infrastructures globally. Furthermore, other cybercriminal organizations, such as RedJulliett and Anonymous Sudan, have also been active in perpetrating cyber incidents across multiple nations.

Lastly, regarding the global smartphone market, a recent report illustrates a rebound, with growth of 7% forecasted to reach 1.22 billion units in 2024. Notably, Xiaomi experienced a significant increase in production, while traditional leaders like Apple and Samsung faced minor declines.

Flutterwave’s regulatory approval signifies a pivotal shift in Ghana’s fintech landscape, promising enhanced financial inclusion for its citizens abroad. Concurrently, South Africa is contemplating e-voting to increase voter participation, while Elon Musk’s claim regarding cyberattacks on X illustrates ongoing cybersecurity challenges. The expected growth in the smartphone market suggests a broader recovery within the tech sector, reflecting adaptive resilience amidst ongoing challenges.

Original Source: thecondia.com