Author: Elan

A year after load shedding, South Africa fights electricity theft – African Business A year after load shedding, South Africa fights electricity theft – African Business

In brief Bitcoin Depot has issued a “going concern” warning, signaling severe uncertainty over its ability to survive the next 12 months. The company’s preliminary Q1 financial results revealed a 49% year-over-year revenue drop and a $9.5 million net loss. The kiosk operator is actively fighting consumer protection lawsuits from state attorneys general in Iowa and Massachusetts. Bitcoin Depot issued a “going concern” warning on Tuesday, flagging substantial doubt over whether the world’s largest crypto ATM operator can survive the next 12 months.Founded a decade ago, the crypto kiosk giant is currently battling a wave of lawsuits from state regulators…

As the debate over global artificial intelligence regulation and infrastructure dominates the airwaves, the conversation in Kigali this week took a markedly different turn. Speaking at the Africa CEO Forum 2026, Emmanuel Lubanzadio, OpenAI’s Africa lead, outlined a vision for the continent that shifts the focus from mere market expansion to structural empowerment. Addressing a packed hall of over 2,500 executives, investors, and policymakers, Lubanzadio said that OpenAI was explicitly tying the success of its global mission to its adoption and utility across the African continent, signalling a strategic shift from merely providing access to actively cultivating developer ecosystems. “The…

Calvin Wankhede / Android AuthorityTL;DR An X user says Claude helped him recover access to 5 Bitcoin after 11 years. The user says the AI found an old wallet file that worked with an old password clue. The recovered Bitcoin was originally purchased for around $1,250 and is now worth almost $400,000. There’s a whole subgenre of crypto horror stories built around people who bought Bitcoin early, realized they’d lost access to it once the value skyrocketed, and then had to spend the next decade staring into the middle distance. One especially famous case involves a man who’s now dedicated…

As artificial intelligence continues to reshape industries at speed, brands are under growing pressure not just to adopt AI, but to manage how it is perceived. According to Mandy Davis, Managing Director at Penquin, the conversation around AI is no longer just about capability, it’s about trust. Mandy argues that while AI presents undeniable opportunities for efficiency, creativity and scale, it is equally accompanied by scepticism, fear and misunderstanding among consumers. “Brands often focus heavily on what AI can do, but far less on how it makes people feel,” she explains. “That’s where the real reputational risk lies.” Public sentiment around…

By PwCNorfund has completed a R160 million (about $10 million) investment in Nafasi Water Technologies, alongside E Squared Investments, to strengthen water security across South Africa and accelerate growth in critical water infrastructure and reuse solutions – reinforcing the role of innovative solutions in addressing regional water scarcity.PwC provided financial and tax due diligence on this important transaction, supporting a partnership that highlights the value of public‑private collaboration in driving environmental resilience, sustainable economic development, and skilled job creation. Congratulations to Norfund, E Squared Investments, Nafasi Water Technologies, and all parties involved in advancing solutions that strengthen water resilience across…

In 2024, private equity firm Verod Capital invested in i-Fitness, a Nigerian gym chain founded in 2015 by the entrepreneur Foluso Ogunwale. Verod co-founder Danladi Verheijen describes the business as one of his favourite investments. Despite operating only around 30 outlets, i-Fitness is already seven times the size of its nearest competitor in West Africa – and Verheijen sees significant room for growth. “Our membership base is basically 1% of 1% of the population of Nigeria. It’s literally nothing. We’re still just scratching the surface,” Verheijen says. “I think [in] the UK, maybe 16 to 18% of the population goes…

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Make CryptoSlate preferred on The XRP Ledger (XRPL) is seeing a drastic rise in fraud attempts targeting its users as the network draws more institutional activity, higher transaction volumes, and renewed attention from XRP traders.On May 14, David Schwartz, the former chief technology officer at Ripple, published a public warning regarding the increasing scam efforts targeting the XRPL ecosystem.Schwartz, a highly visible figure within the community, cautioned users that malicious actors are increasingly deploying fake airdrops and impersonation accounts to drain user funds.The XRP Ledger Foundation issued a similar warning, saying that scams targeting the XRP community had increased sharply.…

In Africa, the founder who doesn’t care about growth and expansion is the real unicorn — rare and almost impossible to find. Operations across multiple countries, growing headcount, and an expanded product suite are bragging rights most founders aim for. But in many cases, the growth that founders desire also carries within it the seeds of a startup’s challenges, according to Olaoluwa Eweje, Chief Information Security Officer at Kora. When conversations about growth and expansion are had, the focus is frequently on the opportunities they present: an ability to hedge performance and revenue, protect against macroeconomic shocks, capture a larger…