Mastercard has agreed to purchase a minority stake in the fintech division of MTN Group, Africa’s largest cell phone provider, which it values at US$5.2 billion. The signing of the formal investment agreements will likely occur very soon as both parties near the end of the regular due diligence process.
The recent research conducted by Signifyd, a company providing anti-fraud solutions for ecommerce, has identified an alarming increase in fraud pressure in Mexico over the last three months. Fraud pressure and fraud attempts targeting merchants increased by 68% in June 2023 compared to April of the same year. Additionally, there was a 106% increase compared to May 2022. Despite these positive figures, Mexico leads in e-commerce fraud risk in the region, with a growth of 72% per year, three times faster than the growth of electronic commerce.
Nigeria’s mobility fintech company Moove, Uber’s largest vehicle supply partner in EMEA, has announced a further US$76 million in funding to fuel further global expansion. Founded in 2019 by British-born Nigerians Ladi Delano and Jide Odunsi, Moove is democratizing vehicle ownership in Africa by providing revenue-based vehicle financing to mobility entrepreneurs.
Microsoft has confirmed that Reddit has blocked its Bing search engine from crawling content; Reddit seems to have blocked DuckDuckGo too. Reddit content will still appear in Google search results, but then Google has paid Reddit $60 million to allow it to train its AI models on that content. Reddit says the block has nothing to do with the Google deal: okay.