Flutterwave Gains Approval in Ghana; E-Voting and Cybersecurity Concerns Emerge
Flutterwave has gained approval for inward remittance services in Ghana, enhancing its presence in the fintech sector. The South African Electoral Commission is considering e-voting, while Elon Musk blames Ukraine for a cyberattack on X, which experts attribute to a different hacker group. The global smartphone market has rebounded, growing by 7% in 2024.
Flutterwave has secured approval from the Bank of Ghana to commence offering inward remittance services, enhancing its foothold in Africa’s fintech landscape. This development allows Ghanaians to receive international funds via the Flutterwave platform, contributing to the nation’s mobile money ecosystem. The company’s CEO, Olugbenga ‘GB’ Agboola, emphasized that this approval signals progress in financial inclusion for the Ghanaian diaspora.
This approval follows Flutterwave’s previous achievements, including obtaining a Payment Service Provider license in Ghana last year and gaining operational approval in Zambia last month. With a presence in over 35 countries, Flutterwave is on a steady trajectory of growth in Africa. In Nigeria, the government is encouraging Flutterwave to list on the Nigerian Exchange (NGX), which, if realized, would position it as one of the largest entities on the exchange.
In South Africa, the Electoral Commission (IEC) is exploring the possibility of implementing electronic voting (e-voting). Research indicates that 79% of South Africans would potentially be more inclined to vote if given this option. Currently, the IEC is in preliminary discussions, with Chief Electoral Officer Sy Mamabolo advising that no decisions have been finalized.
Proponents argue that e-voting could streamline the voting process, shorten queues, and enhance accessibility for individuals with disabilities. However, challenges such as cybersecurity threats and technical failures must be considered. If adopted, South Africa would follow countries like Egypt, which has already implemented e-voting alongside government service monitoring applications.
On another front, a significant cyberattack impacted X (formerly known as Twitter), with Elon Musk attributing the incident to a possible attack from Ukraine. Although Musk suggested that the outage was resource-driven, cybersecurity experts have pointed to a pro-Palestinian hacker group, The Dark Storm Team, as likely culprits.
This group is noted for executing Distributed Denial of Service (DDoS) attacks, which overwhelm servers with excessive traffic. The attack on X is part of a series of disruptions attributed to this group, indicating a broader trend of cyber threats where various hacker collectives are targeting critical infrastructures across multiple nations.
In related metrics, the global smartphone market has shown signs of recovery, posting a 7% growth to 1.22 billion units in 2024. Companies such as Xiaomi and TRANSSION have achieved notable increases in their market performance, signaling a gradual resurgence in consumer demand for smartphones after a challenging two-year period.
In summary, Flutterwave’s recent approval in Ghana represents a significant step towards enhancing financial inclusivity for Ghanaians. Simultaneously, South Africa’s consideration of e-voting reflects a trend towards modernization in electoral processes. Meanwhile, Elon Musk’s cyberattack claims highlight ongoing vulnerabilities in technology platforms, underscored by the activities of hacker groups like The Dark Storm Team. Lastly, the smartphone market shows promising recovery indicators, suggesting renewed consumer interest.
Original Source: thecondia.com
