This story line will help you discover the latest happenings in today’s technological world.

one. Convergence closes $296 million to boost technology

Private equity investor, Convergence Partners, has closed its $296 million Convergence Partners Digital Infrastructure Fund (CPDIF) to boost technology innovation in sub-Saharan Africa.

Brandon Doyle, CEO and founding partner of Convergence Partners, revealed the funding in a press release on Monday.

The new funding, according to the statement, exceeds its initial target by more than 18%, bringing total funds under management to more than $600 million.

“The closure of CPDIF is a huge step forward for Convergence Partners and the development of the digital economy in sub-Saharan Africa,” says Doyle.

Doyle added that the fund invests in sub-Saharan African digital infrastructure prospects.

Technical trivia: Which Windows API is used for network communication?
a winsock
Answer: see end of post

2. App Store increases prices in Nigeria, South Africa and other countries

The application marketplace developed and maintained by Apple Inc. App Store has announced price increases in Egypt, South Africa and other countries.

Also Read: Proptech startup AtarCloud lands $1.3 million seed round. 2 other stories and a trivia

In a blog post seen by Ripples Nigeria on Monday, Apple confirmed that the rally would start on February 13.

The tech giant revealed that the increase was due to changes in taxes and exchange rates.

“On February 13, 2023, prices for apps and in-app purchases (excluding auto-renewing subscriptions) on the App Store will increase in Colombia, Egypt, Hungary, Nigeria, Norway, South Africa, and the United Kingdom.” Apple stated. .

Ripples Nigeria concluded that prices in Uzbekistan would decrease to reflect a reduced value-added tax rate, and prices on the App Store in Ireland, Luxembourg, Singapore, and Zimbabwe will not change.

3. Dubai Investments buys a 9% stake in Monument Bank in the UK

Dubai Investment, an investment firm listed on the Dubai Financial Market, has acquired a 9% equity stake in Monument Bank Limited, a UK-based digital bank.

Khalid Bin Kalban, vice president and chief executive of Dubai Investments, confirmed the partial acquisition in a press release on Monday.

Monument Bank Limited is a UK-based digital bank regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

The bank claims to focus on the massive and underserved UK market, offering essential banking services and smart, efficient and flexible solutions.

“With Monument Bank combining traditional and established banking products with innovative solutions, the Group looks forward to being part of the continued evolution and growth phase of digital banks while expanding horizons and strategically diversifying,” said Bin Kalban.

Mintoo Bhandari, Director of Institutional Relations and Founder of Monument, also expressed his satisfaction in having Dubai Investments as a strategic investor.

Trivia Answer: Winsock

Winsock is short for “Windows sockets,” files that allow Windows programs to connect to the Internet and other computers.

Technically, Winsock is an “application programming interface (API)” that developers use to network-enable their programs.

By Kayode Hamsat

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