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Chinese investors flock to Africa amid a fintech startup boom

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Chinese investors are flocking back to Africa amid a fintech startup boom

The Covid-19 pandemic has induced a financial slump in Africa. This has seen Chinese investors flock to the continent in hope of cashing in on the gains.

One of the biggest players on the market at the moment is OPay – a mobile payments platform that has raised US$400 million. This has pushed its valuation to 2 billion.

OPay’s CEO says the company “wants to be the power that helps emerging markets reach a faster economic development”

The Chinese tycoon is also the founder of online games firm “Beijing Kunlun Technology” and was the previous owner of gay dating app, Grindr.

This all follows Chinese venture capitalists pumping millions of dollars into start-ups on the African continent between 2018 and 2019.

Economic uncertainty throughout the pandemic led to investors pulling funding to reduce risk, but investors are seemingly back on the market for fintech startups.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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When London’s Heathrow airport is set to end daily passenger limits

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London’s Heathrow airport is set to end its daily passenger limits on departures

Ending at the end of this month, The Wall Street Journal is reporting that airlines have already been told about the changes.

Of course, this follows a turbulent summer of travel in the northern hemisphere, where staff shortages have plagued the sector.

To deal with the staffing crisis, Heathrow capped the number of passenger departures at 100-thousand a day.

But the cap was extended from July into October in a desperate bid to limit queues and baggage delays.

The sector has been crippled by the pandemic and labor shortages, with many airports and airlines struggling to hire enough staff to deal with the increased demand.

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Hacking saga hits Australia’s biggest telco

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As millions deal with the fallout from the Optus data breach, a third party company has leaked the information of Telstra employees

Up to 30,000 names and email addresses of past and present Telstra staff were uploaded online.

It’s understood it’s the same forum where an Optus breach was shared last week.

While no customer data has be lost, Telstra says it is aware of the breach, which contains employee information from 2017.

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Government-backed crypto could threaten the U.S. economy, report finds

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Government-backed cryptocurrencies could threaten the U.S. economy, that’s according to a new report

The Treasury Department believe that prices crypto are set by market speculation and don’t have much economic reality.

It’s found crypto-asset firms intersect with entities that have risky business profiles.

Treasury believes this is a concern for the U-S financial system.

Of course, Bitcoin is just one digital coin to swing and los much of its value since the start of this year.

But advocates think these stable-coins could be less volatile than traditional currencies.

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