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How the pandemic changed the way we pay — likely forever
Will anything ever be the same again?
Fintech knows a crisis. The 2008 financial crisis and the ensuing distrust of banks led to a decade of innovation, with challenger banks, digital payment providers and robo-advisors sprouting everywhere you looked. It's apt, then, that this crisis has provided such a boost to the sector.
Across all aspects of fintech, things are changing. The way we manage our money is increasingly digital, as is the way we spend it. Stock trading is now so frictionless that it's almost a game, and tech could provide a solution to an old and broken credit-scoring system. And then there are QR codes.
All of these things were already happening before the pandemic, but fintech, as with so many sectors, has been significantly accelerated by the crisis. Governments are catching on, too, speeding up regulatory processes in response to the huge surge in demand for digital financial solutions.
In a series of conversations with fintech experts, the sentiment was resounding: The pandemic has changed people's financial behavior, and those changes are here to stay. Four areas stuck out as being particularly notable:
- Money Management
Let's get the obvious out the way first: Most people don't go to the bank anymore. This isn't an entirely new phenomenon, with internet and mobile banking on the rise for decades. But forced branch closures catalyzed the shift, forcing holdouts to finally embrace apps. Especially when a pandemic means customers can't get into a bank even if they wanted to go.
The number of sessions in banking apps increased 26% between the first half of 2019 and the same period in 2020, according to data from mobile measurement companies Adjust and Apptopia. And those new users look like they're going to stay around: A survey from Plaid found that 80% of Americans now say they can manage their finances without needing a bank branch at all. As John Pitts, Plaid's head of policy, told Protocol: Once you've tried something better, you're probably not going back to the way things were. Banks are taking note, and branch closures are picking up pace — seemingly as a result of the pandemic. European banks are set to permanently close 2,500 branches, while Brazilian banks have already closed nearly 1,500 this year. In some markets, McKinsey estimates, a full 25% of all bank branches might close.
But while you might expect the shift to digital banking to have benefitted neobanks like Chime and Varo in the U.S., the reality is more complex. Those banks' revenues are heavily reliant on interchange fees, earned when you make a payment with your debit card. But the number of payments people typically make with neobanks — coffee, public transport, lunch — has plummeted. "As spending starts to drop," Terese Hougaard, a principal at VC firm Atomico, said, "there's a lot of pressure on interchange fees."
Compounding matters is the reputation of neobanks versus some bank brands that have been around for over 100 years. "What usually happens in any type of crisis situation is you have a bit of a flight to safety," Hougaard explained. That happened this time too, she surmised, with people seeking out the comfort and stability of traditional banks rather than untested newcomers. A bank saying that there's "significant doubt" about its ability to survive isn't the best user acquisition tactic, in other words. That's what U.K.-based Monzo said shortly after it raised money at a $1.6 billion valuation — well below the $2.5 billion it was valued at last year.
It's not all bad news for fintechs, though. Chime recently raised at a $14.5 billion valuation, almost double its valuation in December 2019, while competitor Varo became the first consumer fintech company to be given a U.S. national bank charter. Neobanks are also well-placed to capitalize on the influx of digital savers that the pandemic has inspired. As consumers spend more time online, it's likely their expectations of what bank apps should be able to do will rise, as they search for increasingly nimbler, more personalized experiences that they have on other parts of the web. They may well find themselves drawn to neobanks rather than the cumbersome traditional banks.
The pandemic hit much of the U.S. economy hard, and some 11 million Americans are still unemployed, creating serious financial struggles for many. In times like this, access to credit is crucial — but many people can't get it. The CARES Act, passed in March, was the only relief many Americans have gotten to date, and $1,200 checks don't last forever.
"The CARES Act itself made it really difficult to understand who was actually [financially] healthy and who was not," Nami Baral, CEO of fintech company Harvest, told Protocol. The act changed what could affect people's credit scores during the pandemic — an attempt to make sure that missed payments didn't unduly affect people's financial futures. "Rather than putting a lot of time and effort into figuring out 'OK, this customer is healthy versus not,' most lenders responded by just constraining that flow of credit," Baral said.
This problem isn't going away. "The degree of predictiveness [of credit reports] is going to be historically low," Pitts said, "because there's so many months of unreliable or non-predictive data in those credit files." Credit models simply aren't built to handle the situation we find ourselves in. The human costs of this are immense, Hougaard said. "When we see banks closing up and closing credit lines," she said, "[it's] pretty hurtful to a lot of people who are planning their lives."
The lack of credit availability could give a boost to one area of fintech. "There's quite an interesting opportunity for new alternative [lenders] to come about," Hougaard said, "that have different types of underwriting models that are much more stress-tested to the current environment." Pitts agreed, saying he expects "a dramatic rise in the use of cash-flow underwriting for consumer loans." If the two are right, that would be welcome news for Baral's Harvest, which recently started offering a cash flow-focused credit score. Rather than being a lagging indicator of credit worthiness like traditional scores, Baral said, cash flow-based scores offer a "real-time view into consumers' finances." Lenders, she said, are interested: "COVID has definitely accelerated this new way of thinking."
COVID-19 has also been a boon for other lending-related fintechs. "Buy now, pay later" financing companies are thriving amid the ecommerce boom, with Klarna's valuation doubling to $11 billion and Affirm filing for an IPO, reportedly seeking a $10 billion valuation.
But there could be pain ahead. With the future of U.S. stimulus still unclear, and some predicting a more typical recession on the horizon, defaults could be about to soar. While traditional banks started lending more conservatively after the last downturn, the same isn't true for fintechs — most of whom have never experienced a downturn before. Fintechs' lending models, Hougaard said, are "going to be stress-tested."
"The average sessions per day surged 88% for investment apps [between January and June] — which is crazy," Adjust's Isabel Ferreira said. And many of those people were going to one place: Robinhood.
"We definitely saw an increase in what I kind of think of as boredom trading, or entertainment trading," Dan Egan, managing director of behavioral finance and investing at robo-advisor Betterment, said. Stuck at home and without sports gambling to keep them occupied, people — men, more often than not — started turning to stock trading and its promises of riches instead. "It's not uncommon for a client to say 'I'm thinking about putting $5,000 into a Robinhood account,'" said Ian Yamey, CTO and co-founder of retirement-planning site Retirable. "They hear that the stock market is doing so well, and they see all this stuff about Robinhood [as] one of the areas where people are making money."
But while many Robinhood investors were making ill-advised bets on bankrupt companies with sometimes fatal consequences, investors in Robinhood were doing rather nicely. The company's valuation surged from $8.3 billion in May to $11.2 billion in August. But that doesn't mean risky behavior is here to stick around. "That behavior is starting to drop off a little bit," Egan said, pointing to behavioral finance papers that say it typically takes a few months for the fun to wear off — though "for some people, it's up to two years."
Beyond Robinhood, wealth management is moving online in the same way everything else is. CB Insights predicts that "one long-term effect of COVID-19 will be the mainstreaming of hybrid robo-advisory services," while Yamey said the pandemic is a tailwind for Retirable. Its customers — typically homeowners in their 60s getting ready for retirement — have been hit hard by the pandemic, he said. "Many of them were pushed out of the workforce earlier than they intended, and so they're having to rethink their retirements." With in-person retirement planning out of the question, many are turning to companies like Retirable. "I think [COVID-19's] really flattened or reduced the obstacle of getting online financial planning," Yamey said. Egan said Betterment saw an influx of customers in the second quarter of the year too, suggesting it may have been driven by people who realized they need more stable finances and wanted help achieving that.
Once they are online, investors' behavior is shifting too. After the Black Lives Matter protests, Egan said, Betterment saw an increased interest in "socially responsible investment strategies" — strategies that people use to invest in-line with their morals, often shunning things like defense stocks in favor of tech companies. Hougaard, meanwhile, said people were increasingly conscious about climate-friendly investing, too: Going through one crisis, it seems, has made it easier for people to envision others.
I live in London, so whenever I visit the U.S. I'm forced to relearn how to write my signature — most of the rest of the world has moved on from having to sign for things when you buy with cards or digital payments. If there's one upshot of COVID-19, it may be that next time I visit, I won't have to do that anymore. Contactless payments are soaring, with Mastercard reporting a 40% year-over-year increase in the first quarter of 2020. Cash, it seems, is finally on the way out: McKinsey's Aaron Caraher said via email that in the U.S., cash is estimated to represent 40% of in-person consumer payments this year — a number that could decline to 34% by 2024.
That's excellent news for payment firms, including newcomers such as Square, who will soon have a much bigger pool of transactions that they can take a cut of. And it could provide an opportunity for something even bigger: QR codes.
In much of the West, QR code payments never really took off. "We were all challenged because we were trying to change consumer behavior without the compelling reason to do so," PayPal's Jeremy Jonker said. COVID-19, he argued, may have changed that. PayPal took its "skunkworks" QR code project out of cold storage, and turned it into a "moonshot" project.
"We've never utilized that vernacular at PayPal before," Jonker said of the QR project, so "it communicated to the entire company that QR codes is going to be a No. 1 priority." Within eight weeks, the company launched a product. As of October, it had "hundreds of thousands of SMBs" that had claimed a QR code they could accept payments with, Jonker said, and "approaching millions of consumers actually utilizing our QR code around the world." Being free of a POS terminal, he explained, opens up a new meaning to "contactless" payments: You can pay for curbside pickup by scanning a sticker on the side of a building without getting out of your car, for instance. And Jonker said he thinks QR codes are here to stay. "It's actually a commerce enablement platform," he said, pointing to PayPal's integration with CVS, where customers will be prompted to sign up for a loyalty card if they scan a QR code to pay. That loyalty card, in turn, drives more sales for the pharmacy.
The real shift in payments, though, isn't cash vs. contactless: it's physical versus ecommerce. The entire retail industry has been upended as consumers have been stuck at home for the majority of their shopping needs this year. Ecommerce now represents about 16% of all retail sales, roughly double what it accounted for in early 2019. Companies like Stripe and Adyen, for instance, have soared as shopping moves online, with the latter's stock price more than doubling since January. That comes at the expense of traditional in-person payment hardware providers, such as Verifone and Ingenico — a gap exacerbated by the higher transaction costs of online purchases, which are seen as riskier. While the shift from traditional payment providers to digital-first brands was already happening, Hougaard said the pandemic accelerated the shift. Stripe, which powers much of online commerce, is an indicative example. Valued at $36 billion in April, it's now reported to be fundraising at a valuation that could approach $100 billion.


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In February of this year, Federal Communications Commission (“FCC”) Chairwoman Jessica Rosenworcel announced that she had submitted a proposal to her colleague Commissioners to regulate “ringless voicemails” to wireless phones under the Telephone Consumer Protection Act (“TCPA”). She noted that “‘[r]ingless voicemail can be annoying, invasive, and can lead to fraud like other robocalls—so it should face the same consumer protection rules…’” The proposal would require that “callers to obtain a consumer’s consent before delivering a ‘ringless voicemail,’ a message left in their mailbox without ringing their cell phone.”
On November 21, 2022, the FCC released a unanimous Declaratory Ruling and Order (“Ruling”) finding that “‘ringless voicemail’ to wireless phones requires consumer consent because it is a ‘call’ made using an artificial or prerecorded voice and thus is covered by section 227(b)(1)(A)(iii) of the 1991 Telephone Consumer Protection Act…” The FCC acted even though All About the Message (“AATM”), who filed the initial petition arguing for various reasons that the TCPA did not apply to ringless voicemail, filed a letter to withdraw the request. The agency noted “substantial attention from commenters, and members of Congress, and the applicability of the TCPA to ringless voicemail technology has been the subject of considerable recent litigation…” warranted addressing the issue. Indeed, the FCC’s Consumer and Governmental Affairs Bureau received over 8,000 comments and replies in connection with the AATM petition, almost all in opposition.
The FCC declared that AATM’s ringless voicemail technology was a “call” under the TCPA for the same reasons that the FCC found in 2015 that computer-generated text messages sent to a carrier’s text server were calls for TCPA purposes. The fact that the “calls” were directed to the consumer’s wireless telephone number was a key fact – “the telephone number assigned to a consumer’s wireless phone and associated with the voicemail account is a necessary and unique identifier for the consumer in the ringless voicemail context.” The agency concluded that its Ruling is consistent with the ordinary meaning of “call” and the legislative history and purpose of the TCPA.
Among other things, the Commission rejected the AATM argument that ringless voicemail is “non-invasive.” The agency’s Ruling noted: “As the commenters and complainants explain, consumers cannot block these messages and consumers experience an intrusion on their time and their privacy by being forced to spend time reviewing unwanted messages in order to delete them. The consumer’s phone may signal that there is a voicemail message and may ring once before the message is delivered, which is another means of intrusion. Consumers must also contend with their voicemail box filling with unwanted messages, which may prevent other callers from leaving important wanted messages.”
The Ruling, which became effective on its release, applies to “any entity that provides ringless voicemail using the end user’s mobile telephone number to direct the ringless voicemail message to a mailbox associated with the end user’s mobile phone.”

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The American Automobile Association is predicting Thanksgiving Travel to be at near record levels this year. Our destination has not yet been determined. But we probably will be part of their projection.
Here in Florida, AAA officials told us there will be 2.9 million travelers on the highways. That’s part of a prognosticated 55 million Americans traveling nationwide over the holiday weekend.
Last year, we had Thanksgiving with the Greeks in Tarpon Springs. Our dinner at Dimitri’s on the Water was a delightful one. However, it was not actually Greek fare. That spurred us to go have dinner with them again more recently. It was Greek and delicious – as was the ambiance.
This Year’s Numbers
This year AAA officials told us will be the second-highest Thanksgiving travel volume since they began tracking in 2000. In fact, it’s second only to 2005. And compared to last year, 85,258 more Floridians will be on the road.
If you’re driving we suggest that you gas up and leave early. Wednesday afternoon is forecast to be the worst travel period. We understand nationally, trips could take as much at four times longer than normal in some areas.
“Strong economics are motivating Americans to travel this Thanksgiving in near-record numbers,” said AAA spokesman Mark Jenkins. “Consumer spending remains strong, thanks to increased wages, disposable income, and household wealth. It also helps that gas prices have remained low during the past month, as Floridians finalized their travel plans.
In any event, if you are headed for grandma’s house (or anyplace else) we agree with the AAA – be prepared. The weather is expected to be good – meaning even more traffic. Make certain you leave early and have plenty of snacks – and other supplies – in the car. We suggest hanging your Tossits on the back of the seat to keep the car neat.
Make certain you car is gassed up and that you’ve done your vehicle check. Most importantly, pack you patience and take your fun with you. Remember, getting there can be some of the best part of the Thanksgiving Experience.


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Economists warn that South African consumers could continue paying more for imported goods as the rand hovers around the R17-mark to the US dollar, amid fears of a US recession of elevated inflation.
The annual inflation rate in the US yesterday accelerated to 9.1 percent in June, the highest since November of 1981, from 8.6 percent in May and above market forecasts of 8.8 percent.
This 41-year high inflation print will cement fears that the US Federal Reserve will aggressively hike interest rates by another 75 basis points to between 2.25 and 2.5 percent this month.
This will also give strength to the US dollar which is already an investor’s safe haven amid global volatility and has thrown a spanner in the works for South African currency markets.
The rand this week breached the psychological R17 mark to the US dollar, weakening to levels last seen in the later part of 2020 when lockdown restrictions were largely still in place.
FNB chief economist Koketso Mano said the dollar could find additional strength from foster monetary policy tightening in the US as global financial conditions have tightened the central banks’ aim at taming elevated inflationary pressures.
Mano said this made the rand less supported as a currency of a country that is a net exporter of commodities while elevated oil prices can cause demand destruction.
“A weaker rand has an impact on the price of imported goods. Consider some of our clothing, vehicles, food products, the most impactful being the price of fuel,” she said.
“This means an even higher cost of living for consumers and more pressure on household budgets. Essentially this translates to high inflation and more pressure on the SA Reserve Bank to increase interest rates.”
Analysts are already anticipating the SA Reserve Bank to front load interest rate hikes this year, which means a strong likelihood of no less than 50 basis points at the remaining meetings this year.
Anchor Capital chief investment officer Nolan Wapenaar, who’s been saying for a long time that the rand was undervalued, yesterday said the rand will trade outside of their purchasing power parity (PPP) level for a while.
Anchor’s PPP-modelled value for the rand vs US dollar at the end of the next 12 months is R14.15/US$1.
Wapenaar said much depended on the stance one takes towards the US being able to avoid a recession, or the rand could weaken to R17.50/US$1 if a US recession does happen.
In the absence of a US recession, Wapenaar said the rand had scope to strengthen towards their fair value range of R14.50-R15.00/US$1.
“We expect that much of the remainder of 2022 will be difficult for the rand and levels around R16.00/US$1 are to be expected,” Wapenaar said.
“The markets will be more volatile than normal and a level of R17.50/US$1 also remains plausible in recessionary scenarios.”


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Beside the road along Adeniyi Jones Ikeja, Lagos, is a blue canopy where multitudes of customers are catered to by a handful of individuals, every weekday morning. At first glance, you’d think that it’s a typical Mama Biliki akara or dundun business. But then you’d be dead wrong because this joint is a snack startup which averages a return of about a million naira monthly.
“This is a snack startup owned by O’Event Concept,“ said the manager, Bashiru Muhammad Babajide.
O’Concept, as it is also called, is a 7-year-old company established by Mariam Olugbemiro without a bank loan or private equity placement. The company has another breakfast outlet within the same area, and its head office is located at Ogba.
The company is one of the 65% of small and medium enterprises in Nigeria managed by sole proprietors. It began as one of the many SMEs that explored personal savings to raise startup funding of less than N10 million.
Overcoming early stage challenges…
Within the company’s second and third years of operations, it struggled to keep head above water, and to create a niche for itself, while competitors like 12 Baskets were waxing stronger in an emerging market.
But all that has changed now. According to Mr. Babajide, the company has a signature taste which maintains customer satisfaction. This is backed by their motto, “Quality is our signature.” According to him:
“So we try and build up quality first. With the quality we’ve built, we believe no matter how we come out, we would still break even in the market.
“By God’s grace, we’ve been able to meet up with it to a certain level, and that has really brought our business upright in terms of customers coming continuously because they are getting the taste [they expect]. There’s nothing different, so we’ve been able to stabilise a lot of things.”
[READ ALSO: How To Kill A Business….Quickly]
Reengineering snack-on-the-go business
O’Concept is not your usual snack company such as Mr. Biggs or Tasty Fried Chicken. This is not only because it operates under a canopy, but due to its nonconformity with traditional snacks like donuts and meat pies. The company deals in small chops, grilled fish and chips, asun, fried yam and plantain, among many others.
Daily, about N200,000 is budgeted as cost of operation, with its snack packs priced at N400, N450, N500 and N550. The startup averages about 100 customers during its operation hours of 8-10 am, with Friday being its peak day.
Oftentimes, being a late entrant to a market denies companies, most especially small and medium businesses, sizeable customer base, leaving them a bit of the market share, as first movers usually control the base. But for Mr. Babajide, the market is still far from maturity and there are enough innovative ideas to extend the company’s lifecycle.
[READ ALSO: How SME’s can digitally export their products]
Due to its reengineering of snack-on-the-go, O’Concept has experienced significant growth in the QSR (Quick Service Restaurants) business. Its innovative path has led it to profitability in recent years despite the presence of competitors.
“We are the ones affecting their business now. We are springing up. 12 Baskets has been in the market for a while and they have all the facilities; we are just gathering our facilities together… But we are using our products to penetrate the market. The business has been challenging, and at the same time, it has been profitable.” Babajide stated.
Cashing in on location…
While the company is eyeing expansion, its current location is a strategic move that has aided its growth and profit making. Already, there are plans for a third outlet in Opebi to break new ground.
Nairametrics learnt that the roadside has increased the company’s visibility and accessibility to customers and prospective clients. “We are working with everybody,” said Babajide. “For example, we are working with Jumia, Access Bank, we working with banks and other companies around this area.”
[READ ALSO: A floating loan box: Another wonder in Lagos?]
Although, the company currently has about six employees, startups like O’Event Concept is the reason small businesses in Nigeria have created about 59 million jobs. The company also hires contract staff, depending on the level of demand and supply needed.
Undaunted by saturation
O’Event Concept is currently in its growth stage, and the company is far from intimidated by the influx of more small and medium businesses. The entry barrier of snack-on-the-go business has continued to drop, giving room for a saturated market, but with competitive price keeping them in check, O’Concept is depending on innovative ideas and quality assurance to continue switching customer-loyalty to cash in.


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Brand unveils online food festival
An array of mouth-watering food will be on order, as Jumia Food has commenced its online ‘food festival’ campaign, promoting meal ordering from top international and local restaurants.
Consumers are expected to enjoy exciting deals from top international and local restaurants in the two-week campaign, which started on Monday, September 26 and will run through October 9, 2022.
“The food festival is another opportunity to promote the adoption of meal ordering in Nigeria. We have seen more consumers shift to online delivery platforms as a convenient and safer option to enjoy delicious recipes still. We have partnered with the best restaurants to ensure consumers enjoy convenience and affordability while ordering their favourite meals. This campaign also allows us to support our consumers despite the challenges related to inflation and high cost,” said Oluwafemi Ajulo, Head of Commercial, On-Demand Services, Jumia Nigeria.
Partnering with the online platform for the food festival are Cold Stone Creamery and Pinkberry Nigeria.
According to its Marketing Manager, Maruf Lamidi, the campaign is another “opportunity for us to reiterate our commitment to our customers through amazing offers, so they can continue to enjoy convenience when ordering their favourite ice cream.”
Lamidi said the Jumia Food platform has allowed “us to reach more customers that we would not typically have been able to reach in the Nigerian market, which is why we are excited to be part of this campaign. Customers can be sure of getting the best value when they buy from the Jumia Food app during this period.”
Consumers can take advantage of the exciting deals during the Food Festival Campaign by simply downloading the Jumia Food App. The campaign will also feature buy one get one free, flash sales and more.


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Esports were a big winner in the Lockdown of 2020, and the Esports industry is changing in 2021. We’ll look at Key esports industry trends this year.
The future of the esports industry looks good – and set for growth – despite a recent fall in some forms of revenue and prize money.
If you still think esports (or e-sports if you prefer) is just about kids and young adults playing in the bedrooms, think again. The esports community is now the esports industry. No one knows quite how big esports currently is. Some esports industry analysis estimates the value of esports already at figures ranging up to $25 billion – which is a lot of money – with nearly half a billion people involved.
Whatever the real figure is, the esports area is a phenomenal new market. Like almost all forms of online gaming, esports industry growth beyond that huge figure is a given.
So, to find out why esports are here to stay, what’s next, and some secrets of the esports industry like 50 no deposit free spins, read on!
Esports – What We Should Expect in 2021
OK, let’s start by defining esports. In a nutshell, it is competitive online gaming. Unlike simply playing competitive games online, or other kinds of online gaming, true esports is organized, has real-world prizes, and has opportunities for professional careers. An esports tournament provider often has big prizes on offer – up to a million dollars or
What’s Driving Esports Growth
The staggering growth in esports participation in 2020, due to lockdowns, shows no signs of falling off in 2021. It’s a fun and easy way for spectators, starved of live traditional sports, to be part of a crowd. It’s a great way to hang out with friends and family, too.
What this means is a big audience – and big audiences are attractive to advertisers.
About 75% of the total esports market revenue comes from selling media rights plus advertising and sponsorship.
That’s why in 2020, YouTube negotiated broadcast rights to Activision Blizzard’s wildly popular group shoot-em-up “Call of Duty”. YouTube also snapped up the rights to Overwatch Leagues. In 2021 watch out for Riot Games selling media rights for League of Legends, one of the biggest esports franchises on the planet.
Show Me the Money, Jerry
With all this money going around, it’s no surprise that professional sports teams are now launching esports teams, too. One early example is the Philadelphia Eagles, a ‘real world’ football team, who are signed up with EEG (Esports Entertainment Group) as their esports tournament partner.
Also, we already see that the NBA sponsored a players-only esports tournament. Sixteen NBA ‘real world’ athletic stars played in a charity tournament on Xbox.
Then there’s Premier League football club Manchester City working with Fortnite on the Faze project – plus check out the new FIFA Quaranteam program. Expect to see more lucrative cross-branding of traditional sorts of teams with other kinds of esports organizations.
I’ve Got the Moves Like Jagger
The next big thing to watch out for is an esports-music fusion. While the lockdowns across the world keep music venues closed, the virtual music venues of esports are wide open and ready for business. We always need to remember this is now 20 years into the 20 th Century, and old rules and habits need no longer apply.
That’s why the team at Fortnite for example, are already hosting streamed concerts, with names like Diplo, J Balvin, Travis Scott, Noah Cyrus, and Young Thug in the mix. These are globe-spanning affairs, which allow artists to reach every part of the globe in real-time.
Unlike the Jessie-J song, the esports industry in 2021 is very much about the money.
There are many clever ways esports games vendors have found to separate players from their cash and make the players enjoy the process. As well as the normal IAP (in- app purchases) that have been around for a while, there is a big trend in monetizing badges, game ‘skins’, banners etc.
The clever model of ‘freemium’ games is working well. In 2021 expect more of these ‘free’ esports games (or esports tournaments), which are littered with opportunities for participants to pay real-world money for special features, special access, souvenirs, etc.
All of this is highly familiar in real-world sports, with those overpriced half time drinks and hotdogs, or the rip-off prices of buying an official team kit from your local sportswear outlet. So, nothing conceptually new here – simply traditional sports marketing to fans and spectators in a new technological setting.
The prize money from esports peaked in 2019 but took a hit in 2020, during the lockdown. That’s not entirely surprising as individual wages, job security, companies, and whole economies were in trouble worldwide. Even so, games like Counterstrike: Global Offensive still splurged out over $15.8 million to winning players. That’s none too
shabby. There is every reason to expect esport prizes to go up again as things improve.
There’s no doubt the esports are set for a bright future. Most likely, we are looking at a maturing market in 2021, as esports industry trends and business models become better understood. So, what do you think the future holds for esports?
Write to us in the comments section and let us know.
Chris Delgado is a true online casino enthusiast with over five years of experience in the industry. He is a sports betting expert who covers all the latest betting tips and breaking news, as well as providing insight and analysis of the industry from the very beginning so you can start advancing your betting strategy.


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The National Association of Sachet and Packaged Water Producers has announced a 25% price hike for sachet water products.
Magnus Nunoo, the National President of the National Association of Sachet and Packaged Water Producers, issued an official press statement detailing the situation.
According to the association, the latest increase is due to high production costs from power, taxes, and high import charges.
The association indicated that, iced sachet water (clean water) would now cost 40 pesewas, while a bag of 500ml sachet water containing 30 pieces will cost GHC4.50 from retail trucks. However, Mini stores will sell it for GHC6.
They further recommended that, the 500 ml iced bottled water (small size), which generally sells for GHC 1.00, should now be sold for GHC 1.50, and the 750 ml or medium size iced bottled water, which sells for GHC 1.50, should now be sold for GHS2.00. GHC 3.50 will be charged for the 1.5L or large bottled water.
The new prices will be effective starting from Monday, December 27, 2021.
Read the Full Statement below.


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The Eurasian Economic Union (EAEU) appears to be working to become more crypto-friendly this year. Their executive body, the Eurasian Economic Commission, was recently ordered to create a report on cryptocurrency. This new report will serve as a guide in the promotion of regulation, which is a necessary component to the growth of the crypto industry locally. The EEU was collaboratively established by Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan five years ago.
image via Shutterstock


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Michael "Cartoonz" Hogman, known as one of the best collegiate League of Legends gamers in the world, has teamed up with ASUS Republic of Gamers to put together a challenge that will test his accuracy skills as a pro gamer launching November 24, 2015. Hosted by Justin "KOSDFF" Chandler, this is the first time the gaming community has ever been given the chance to compete against professionals.
For more information or to see how you stack up visit: http://asusdreamgame.com/
"For the first time, we are inviting gamers far-and-wide to test their skills to see how they stack up against pro gamers," says Erik Joiner of ASUS. "Beyond the challenge itself, we are also providing a unique look at the science of how these top players process their gameplay and what enables them to rise to the top of their respective communities."
Organized by MoreYellow, each week of "Don't Just Dream. Game." will introduce a new unique game and different pro gamer for challengers' far-and-wide to match wits against. Games are designed to test skills employed by pro gamers in their respective game genres. During the first week, "Cartoonz" will attempt to best all challengers in a test of accuracy.
Jordan Mauriello, Principal of MoreYellow and developer of "Don't Just Dream. Game.", provides some additional context: "Today's top gamers are constantly honing their skills. We were given the opportunity to view them through a unique lens, revealing how they refine their skills, telling the story behind each pro-gamer and creating a platform for casual & hardcore gaming fans alike to compete against them."
For more information on ASUS "Don't Just Dream. Game.", visit: http://www.asusdreamgame.com and start playing!
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Many Samsung fans all over the world have been disappointed since the Android 6.0 rollout has been quite slow. The latest Android update (which is commonly known as Marshmallow) was released on October 2015 but, more than six months later, it still hasn’t reached all Samsung smartphones that are eligible to get it.
Fortunately, the long wait seems to be over for a lot of people since many telecommunication companies have released Android Marshmallow for their Samsung phones. In Sri Lanka, for instance, the Marshmallow update rollout for Samsung Galaxy S5 SM-G900F phones has started this week. The SM-G900F is one of the most popular models of the Galaxy S5, and it’s widely sold in Europe, Asia, and other regions. The Marshmallow update for the SM-G900F was first released in South Korea and later made its way to Argentina, Trinidad and Tobago, and Sprint subscribers in the U.S., and it’s expected to roll out soon to rest of the world.
Those who own the Samsung Galaxy Note 4 will also get the Marshmallow update soon. Note 4 owners in India have reported getting the update through over-the-air (OTA) connection, and the rollout is said to be well underway in Poland and Turkey. Several reports suggest that Android Marshmallow will be released first to Galaxy Note 4 models with the Exynos chipset (which is mainly sold in India, Australia, Singapore, and Europe), although other models will apparently get their own updates soon after.
Samsung hasn’t yet made announcements about the Galaxy Note 3, and there have been reports that the model won’t receive the Android Marshmallow update. If these reports are true, it won’t be surprising since the Note 3 has just received an upgrade to Android Lollipop. It’s also several years old, which may prompt Samsung not to bother making a Marshmallow update for it.
Samsung Galaxy Note 3 owners can either wait for Android 6.0 to be available to their phone or download a ROM. ROMs are firmware that allow users to change the behavior of their Android device (similar to what iOS jailbreaking tools do), and there are now ROMs that let users enjoy the new and exciting features that Android Marshmallow brings. But remember: installing a ROM can void your warranty and, if you don’t follow instructions properly, you might end up bricking your phone and turning it into an expensive paperweight. So exercise utmost care when downloading and installing a ROM in your Samsung Galaxy smartphone.
Take your mobile photography game to the next level with this affordable clip-on lens kit from Xenvo. Comes with a macro lens and a super wide angle lens that easily clip onto your phone for professional-grade photos on the go.
Every techie needs a pair of sick headphones. Neurogadget recommends these Audio Technica Professional Studio Monitor Headphones for both their quality and their cool-factor.


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This fall, Google released a new search engine algorithm called the Hummingbird update, which promises to change the way companies do Search Engine Optimization (SEO) forever. The Hummingbird update has changed the common SEO practice of optimizing for 1 - 2 keyword searches and instead has refocused on more in-depth, query-based search results.
The Hummingbird Update Explained
In a nutshell, Google’s latest search engine algorithm will use parts of previous components that have worked successfully for Google, and add in new elements. Although there have been updates to the algorithm in the past, including Panda and Penguin, this is the first time in ten years that an entire replacement has been made. Hummingbird is meant to be lightning fast and sort through billions of web pages to return the most relevant results based on specific and non-specific search queries.
Digital marketers are going to need to specify what longtail keywords are most associated with their products and services. With longtail keywords, the marketer is looking to target search queries that are looking for answers to a specific question. As an example, a marketer will want to drive the targeted customer to his or her website and use keywords like “Michael Kors leather jacket size large” instead of "fall coats." The goal of the Hummingbird update is to answer search queries regardless of the complexity. Keyword data from the Google AdWords API is no longer being released to marketers because the company wishes to make a shift from short keywords to a better emphasis on content.
In the past, when consumers typed in a search query, only one or two keywords were used to generate results. For instance, if consumers typed in "heartburn prescription options," they would’ve been brought to pages about specific drugs. With the latest update, consumers will also see results based on treatment options.
With the latest update, each word is analyzed when entered into the search engine. According to Search Engine Land, the focus is on conversational searches. For instance, if you asked Google what is the nearest retailer to buy the Samsung Galaxy, it may be able to decipher that you mean near your home if you have already set your location. The retailer can be distinguished as an actual store instead of an online storefront.
The new focus on longer and complex search queries has resulted from the popularity of using Google on mobile devices. The Hummingbird update is also intended to work well with Google’s latest rollout of products like the buzzworthy Google Glass.
The latest changes to Google may not mean you have to change your SEO strategy altogether. According to Forbes Magazine, if you were evolving over the past few years to keep your website relevant, you shouldn’t have a problem. The main objective of digital marketers should be to keep high-quality content on their websites and to have high ranking websites link to your website. This will help improve overall ranking.


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‘Creative Cultures’ the theme for this year’s Heineken Design Fashion Africa (DFA) Showcase 2021 which took place at the Eko Convention Centre of Eko Hotel, Lagos, lived up to its hype as there were several designs, portraying African culture on display. The theme responds to the growing need to blend the African Fashion and creative industries with global brands and partnerships, such as Heineken amongst others. It was one of the best fashion parades ever witnessed with top designers in the country and other parts of Africa coming together to showcase different creative African fashion, towing the line of the theme ‘Creative Cultures’.
Yomi Casual, Zikora, Jurio Lutti, Niposkin, Skentele by Etti, Studio Trybe, Meklit. me, Lulla Studio, Femi Toys, among others all showcased different fashion wears both for men and women. Fashion lovers were thrilled by the display of style on the runway, music lovers also have a great time with performances from amazing Nigerian artistes live at the event such as Patoranking, Aramide, Crayon, Tclassic, Ric Hassani, Ycee, Dapo Turbuna, Reekado Banks and others.
The sponsor of the Fashion Show, Heineken, a product from Nigerian Breweries PLC was available for the guests to cool their thirst as the company revealed their passion for sponsoring fashion shows for years. Business Development Manager (Low and No) of the Heineken Company, Sampson Oloche, who was present at the show said they believe the DFA is definitely a big property. Speaking at the event, Oloche said, “We have been supporting fashion for 11 years,” he said. “I am happy the event was a success as designers were given the opportunity to showcase their creativity.
“At Heineken, we feel fashion is a big property in our hands and with the right investment, it can become another money-making industry in Nigeria and Africa as a whole. Also present at the event was the Brand Support Manager – Heineken of the Nigerian Breweries Plc, Aboyowa Ikpobe, who also applauded the organiser for a wonderful job. DFA towards getting to the final showpiece organized a reality show with over 2000 video entries received from different parts of Africa with designers showing off their pieces. With judges like Godson Ukaegbu, Adebayo Oke-Lawal, Akin Faminu, Oluwatosin Ogundadegbe, Michael Ugwu and Ituen Basi, the entries were reduced to 10 with the lucky 10 camped at a location in Lagos for 30 days where the eventual winner, Zikoranachukwuebuka Ikebuaku of Zikora, emerged.
The winner received ten thousand dollars (10,000USD) to create their designed garment and showcase it within the Design Fashion Africa weekend in October. This year’s edition of DFA was organised in collaboration with Jakaranda Productions and SpiceTV.
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CNBC Africa Transmisja na żywo
O CNBC Africa Lokalizacja:
Afryka Południowa Kategoria:
CNBC Africa na portalach społecznościowych:
CNBC Africa is an African pay television network launched on 1 June 2007 and owned by CNBC and Africa Business News. It is headquartered in Sandton, Johannesburg.
The channel features programmes and updates from CNBC Europe, the Middle East, India, Pakistan, the US and other CNBC affiliates around the world.
Powiązane kanały telewizyjne
SABC Digital News
Afryka Południowa / Aktualności SABC News, Africa's news leader at www.sabc.co.za/news is the online news portal of South Africa's public broadcaster....
Afryka Południowa / Aktualności CNBC Africa is an African pay television network launched on 1 June 2007 and owned by CNBC and Africa Business News. It...
Afryka Południowa / Zabawa Vuzu is a South African youth-oriented television channel produced by M-Net for sister pay television platform DStv....
Afryka Południowa / Styl życia Spice TV (officially named Spice Fashion Television Channel) is Africa's first dedicated English-language specialty...
Afryka Południowa / Lokalna TV Soweto TV is a South African community television channel broadcasting in the biggest township in South Africa, Soweto....


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Sabrina Tan is only half-joking when she describes the skincare industry as a highly competitive blood sport. After “10 bloody years” in the arena, she ought to know. The good news though, is that Ms Tan and Skin Inc, the company she founded in 2008, are sitting pretty in the beauty world. The homegrown brand-gone-global has a glowing reputation among millennials and enjoys double-digit growth, with a healthy bottom line that’s boosted by a strong online presence. But she doesn’t plan to sit still.
Skin Inc’s breakthrough was a customised approach that blends beauty with technology to create a one-size-fits-one skincare universe. Potential customers complete an online Skin Identity Check that provides specific information (let’s call it ‘skin-tel’) on their lifestyles and skin condition. Each person is prescribed a custom-blended, ‘caviar-inspired’ serum comprising different active ingredients that remain encapsulated until applied to the skin. The company has well over a million ‘skin profiles’ – each with its own barcode - in its database.
Photo: Instagram / @iloveskininc
Ms Tan, 45, spent a decade marketing computers and software in the IT industry before a sensitive skin condition and the mom-preneur in her (she has two children now in their early teens) led to a switch in career paths. She developed the customised serum encapsulation concept with researchers and manufacturers in Japan, then packaged and marketed the finished goods to appeal to audiences in search of a simple and effective skincare routine. Skin Inc products are available at retailers and e-tailers like Sephora, Amazon and Bergdorf Goodman. The company also has two skin supplement bars in Singapore.
Ms Tan says she is a proud disruptor of the beauty scene who works hard to stay ahead in the skincare game. As someone who is constantly time-challenged, she isn’t averse to appropriating the occasional Skin Inc tagline to get her point across. Asked to encapsulate her business philosophy, she says without hesitation: “Customise, don’t compromise.”
Skin Inc celebrated its 10th anniversary with a three-day bash last month, bringing in social media and brand influencers from around the world. A live stream of the event attracted seven million views with a reach of over 80 million. Those are impressive numbers.
Photo: Instagram / @iloveskininc
That’s what digital is all about today. The core concept was to showcase Singapore, and Skin Inc as a homegrown brand that’s gone global. It coincided well with the Crazy Rich Asians craze, and we took guests to Newton and Ce La Vie on the same night. The experience is what drives a lot of content today and we want to project being grounded yet dream big at the same time. There was the real experience of the store as well as cultural exchange between us. There’s a lot of real science behind the digital marketing, making sure the message gets out there. Our point of differentiation is to marry tech with beauty, tech and lifestyle. Our lives are disrupted by technology in a positive way, our perspective is more global and there’s speed to market. Coming from a tech background I had the foresight 10 years ago to create a product that is backed by data – we were able to navigate consumer behaviour.


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Hop down to craft venue
Beer lovers will have more reason to visit the Ningaloo Coast soon with a local trio set to open a restaurant dishing up modern Australian cuisine and beers brewed in-house in Exmouth.
Pete Firth, Phil Gray and Tyler Little are aiming to have a soft opening for Froth Craft restaurant on February 23 at the old 5 Kennedy Street premises in the shopping mall.
Mr Firth said the trio were following their passion to create a “pint of difference” in the market not available elsewhere in the North West.
“We think there’s a large market here and certainly a niche to be filled,” he said.
“Pairing great local produce with artisan craft beers is yet to be seen in the Pilbara (and Gascoyne) area.
“Hopefully, we can create a pumping venue that can entice people to return and experience everything Exmouth has to offer.”
The restaurant has been decked out with six tonnes of Margaret River jarrah, restored furniture and fence posts which Mr Firth said should create a rustic vibe.
The party piece will be at the point of sale inside.
Froth Craft beers will flow through a driftwood structure, dubbed draughtwood, above the bar.
Mr Little, who has taken on the role as head brewer, said he expected easy drinking styles such as kolsch to go down well in the North West heat.
“I have been brewing for more than 10 years doing a bit of work down in Eagle Bay and Bootleg, but it has always been a dream to start our own brewery up here,” he said.
“Being Canadian, I definitely have more of a North American hops influence to my brewing, but we want to stick to traditional styles to start off.”
Once established, Mr Little said he would like to get more experimental with seasonal releases and some of his own personal projects.
“My favourite is definitely pale ales, or what I consider a west coast pale ale,” he said.
“It is quite fruity and hoppy, so hopefully everyone else will like it too. “I’ve been slowly over the last few years using my friends to taste test.”
Mr Firth said he hoped the venue would become a social hub for residents and tourists.
Initially, Froth Craft will be running on a restaurant licence with a liquor without a meal extended trading permit.
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The pact establishing formal diplomatic ties between Israel and the United Arab Emirates was finalized Thursday morning on a call among President Trump, Israeli Prime Minister Benjamin Netanyahu and Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan, U.S. officials said.
“This is the best news in 2020—and it hasn’t been a very good year,” Mr. bin Zayed said on the call, according to officials who were listening.
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A new FCC (Federal Communications Commission) Certification details reveals that the HTC is getting ready to roll out the Bluetooth 5.0 compatibility to its latest flagship smartphone via a smaller software update.
HTC U11 shoud have been one of the first smartphones to feature Bluetooth 5.0. Unfortunately, for some reason, the Taiwanese giant was unable to do so, and Samsung became the first smart to feature Bluetooth 5.0 in Galaxy S8 and S8+.
HTC U11 was launched back in May with the Bluetooth 4.2 connectivity. However, it looks like HTC has changed its mind and has decided to update the U11 to Bluetooth 5.0 very soon. According to the report, HTC plans to “enable Bluetooth 5.0 by software without any hardware change.”
For those who unaware of Bluetooth 5.0, It is the new version of Bluetooth which comes with lots of advantages over Bluetooth 4.2 chipsets. It would have comparatively longer connectivity range, less power consumption, faster data transfer and will be more accurate.
Sadly, it’s unclear when exactly the new update will be released, but if you own the HTC U11, you can be sure your phone will make use of Bluetooth 5.0 if nothing wrong happens.


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Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here.
Reddit is moving to give advertisers deeper access to its platform – and rake in some dough. The social platform has signed its first-ever enterprise partnership agreement with Omnicom Media Group, a deal that encompasses OMG’s media-buying shops, including Hearts & Science, OMD, PHD and Resolution. Read the release. The deal means that OMG clients will have access to Reddit’s creative strategy team, education and training tools, early ad product and feature testing, measurement and reporting, data, and other offerings to more effectively engage with Reddit’s 52 million daily active users. Marketing Dive reports that the deal comes as Reddit seeks to expand its advertising revenue to help support the company’s valuation as it prepares for a possible initial public offering. Reddit has more than 100,000 communities, called “Subreddits,” which give advertisers a way to interact with an audience that can include brand loyalists or consumers who are most likely to convert into customers. With the expected deprecation of audience tracking technologies like third-party cookies and device identifiers in the near future, Reddit is leaning into its strengths in contextual-based advertising to its communities.
The death of the third-party cookie may not have agencies as concerned as brands are about the change hurting their business. According to a Digiday poll of 146 buy-side professionals across advertising agencies, consultancies and brands, close to half of brand-side respondents this year agreed the changes would hurt, while close to one-third of agency-side sources agreed. Digiday also looked at how media professionals are preparing for the end of third-party cookies in the first quarter of 2020, including their ability to target and measure ads without third-party cookies. Seems that the buy side’s concerns about those challenges have subsided somewhat — from 76% last year to 69% this year for the ability to target ads, and from 76% to 70% for the ability to measure their effectiveness. Still, it’s expected to hurt, and the IAB says brands are not ready for the looming data restrictions from Apple and Google, and that publishers risk losing $10 billion when the cookie crumbles.
Facebook is pushing back. The company said that the Federal Trade Commission “utterly ignores the reality of the dynamic, intensely competitive high-tech industry in which Facebook operates,” and asked a federal judge Wednesday to dismiss antitrust lawsuits by the FTC and state attorneys general. Facebook maintains the government has no valid reason for alleging the company is suppressing competition, according to The New York Times. Facebook took things a step further and filed a second motion arguing that the states’ case “does not and cannot assert that their citizens paid higher prices, that output was reduced, or that any objective measure of quality declined as a result of Facebook’s challenged actions.” The filings in U.S. District Court in Washington marked Facebook’s first legal salvo since the FTC and 46 states sued Facebook in December, claiming that it has essentially operated as a monopoly by freezing out and buying up potential competitors (Instagram, WhatsApp).
But Wait, There’s More!
U.S. Rep. Suzan DelBene has introduced the Information Transparency and Personal Data Control Act, legislation that would create a national data privacy standard to protect personal information. [release]
Facebook is testing a way for creators to make money through Stories: sticker ads. [The Verge]
Parler tried to get back on the App Store last month, but Apple rejected its application, citing Nazi symbols and hate speech from users. [Business Insider]
Marketers are evaluating their media spend to BIPOC outlets in the upfronts. [Ad Age]
Advertising inventory in NCAA’s Men’s College Basketball Tournament – “March Madness” – is “virtually sold out.” [MediaPost]
Check out the state of TV viewing across Comcast properties. [Effectv]
HBO Max is launching a Latino audience initiative, HBO Max Pa’lante. [CampaignUS] And in other HBO Max news, WarnerMedia will highlight the service’s debut with a SXSW installation that offers an immersive look at its library. [Adweek]
Integral Ad Science has announced that Xandr’s buying platform, Xandr Invest, now offers IAS’s contextual targeting and contextual avoidance capabilities across all programmatic buying. [B&T]
BEN has appointed Vanessa McCullers vice president, DE&I and strategy. [release]
GainShare has appointed Matt Kelley as senior vice president of customer experience. [release]
Teads has appointed Heather Unsinger and Ben Eason as group directors in the US to oversee the growth of strategic CPG and Auto clients, and grow Teads’ agency partnerships, respectively. [release]
Programmatic media solutions provider MiQ has appointed Giles Ivey as EMEA CEO, Van Sidera as EMEA COO and Freddie Turner as managing director in the UK. [release]
Facebook-Meta Earns the ‘Worst Company of 2021’ Title in This Survey
Facebook parent Meta has been named the Worst Company of the Year (2021) by Yahoo Finance respondents. According to the publication, an “open-ended” survey was published on Yahoo Finance on December 4 and 5, where 1,541 respondents participated. Facebook received 8 percent of the write-in vote, but respondents were seemingly mad about the Robinhood trading app as well. Electric truck startup Nikola, which was named last year’s worst company by the same publication also faced respondents ire.
Yahoo Finance even highlights, “At the same time, some critics, including conservatives, say Facebook over-policed the platform’s speech and stifled their voices.” Critics also blame Facebook and other social media platforms for not curbing hate speech that led to Capitol Building riots.
However, around 30 percent of Yahoo Finance readers said that Facebook or Meta could redeem itself. One respondent suggested that the company could issue a formal apology for negligence and donate a sizable amount of its profits to a foundation to help reverse its harm.
On the other hand, respondents chose Microsoft as the Company of the Year (2021). The Satya Nadella-led company touched the trillion-mark this year and introduced notable upgrades. The most notable is the Windows 11 OS update that succeeds Windows 10.
Facebook pays 1.7 Cr fine to Russia after failing to delete content Moscow deems illegal
In the latest legal tussle with Russia over controversial social media regulation laws, Facebook paid 17 million roubles (Rs 1.7 Crore) for failing to remove content deemed illegal by Moscow. With a threat of potential larger fines looming, Facebook parent company Meta, owned by Mark Zuckerberg, is scheduled to face court next week over repeated violations of Russian legislation on content, Interfax News Agency reported. As per the latest updates, the social media giant could be fined a percentage of its annual revenue.
In October, Moscow sent state bailiffs to enforce the collection of 17 million roubles. Meanwhile, as per Interfax report citing a federal bailiffs’ database, on Sunday, there were more enforcement proceedings against the company. Apart from the popular social media app, Telegram has also paid 15 million roubles in fines for failing to comply with the Russian social media legislations that came into force in 2016.
Facebook pays $53k to Russia for refusing controversial social media laws
It is pertinent to mention that Facebook has locked horns with Moscow earlier in November, resulting in it paying 4 million roubles ($53,000) over its refusal to adhere to Russian data localisation laws, the Moscow Times reported. The Moscow court on November 25 had said that Facebook paid the fine levied in February, following which all proceedings against the US-based social media giant. The payment comes against the litigation filed against the company in 2018, alongside Twitter. The tech companies were also forced to pay an additional 3000 rubles ($40) for failing to comply with user data sharing rules as per the law. The Russian authorities have also previously blocked LinkedIn, owned by Microsoft, for failing to abide by the laws.
Russian social media laws
As per Moscow Times, under the Russian social media regulation laws, all foreign technology companies are required to store data related to Russian customers and users on servers located in Russia. Additionally, the Russian tech companies will also have to share encryption data with the federal authorities as well as record user calls, messages and civil society group conversation records. The apparatus is said to be a severe breach of privacy rights and unfettered back-door access to personal data that could be used to harass Kremlin critics.
Facebook Messenger Is Launching a Split Payments Feature for Users to Quickly Share Expenses
Meta has announced the arrival of a new Split Payments feature in Facebook Messenger. This feature, as the name suggests, will let you calculate and split expenses with others right from Facebook Messenger. This feature essentially looks to bring an easier method to share the cost of bills and expenses — for example, splitting a dinner bill with friends. Using this new Split Payment feature, Facebook Messenger users will be able to split bills evenly or modify the contribution for each individual, including their own.
The company took to its blog post to announce the new Split Payment feature in Facebook Messenger. 9to5Mac reports that this new bill splitting feature is still in beta and will be exclusive to US users at first. The rollout will begin early next week. As mentioned, it will help users share the cost of bills, expenses, and payments. This feature is especially useful for those who share an apartment and need to split the monthly rent and other expenses with their mates. It could also come handy at a group dinner with many people.
With Split Payments, users can add the number of people the expense needs to be divided with and, by default, the amount entered will be divided in equal parts. A user can also modify each person’s contribution including their own. To use Split Payments, click the Get Started button in a group chat or the Payments Hub in Messenger. Users can modify the contribution in the Split Payments option and send a notification to all the users who need to make payments. After entering a personalised message and confirming your Facebook Pay details, the request will be sent and viewable in the group chat thread.
Once someone has made the payment, you can mark their transaction as ‘completed’. The Split Payment feature will automatically take into account your share as well and calculate the amount owed accordingly.
Tasneem Akolawala is a Senior Reporter for Gadgets 360. Her reporting expertise encompasses smartphones, wearables, apps, social media, and the overall tech industry. She reports out of Mumbai, and also writes about the ups and downs in the Indian telecom sector. Tasneem can be reached on Twitter at @MuteRiot, and leads, tips, and releases can be sent to email@example.com.


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Representatives of importers under the aegis of the Association of Nigerian Licensed Customs Agents (ANLCA) blamed the decline in the level of imports into the country on the increase in the cost of tariffs imposed on import units of cargoes. by the Nigeria Customs Service (NCS). It was even as customs brokers revealed that imports have fallen by 50 percent at the country’s ports in recent days.
Speaking at the ANLCA National Executive Council (NEC) meeting on Tuesday in Lagos, the association’s national president, Mr. Tony Iju, explained that the recent increase in duties on 40ft containers by Customs at N3m has compounded the difficulties faced by importers in the country’s ports.
According to the National President of ANLCA, “You will recall that at the last meeting of the NEC, we pointed out many issues that militate against the clearance of cargoes in our ports, which this NECOM faced head-on.
“We raised this issue at the last NEC meeting where we were mandated to go to Abuja. NECOM led by myself went to defend the allegation of obstruction of rights imposed against us by the management of the Nigerian customs service. We have been to the National Assembly twice on this issue.
“We were successful in convincing the House Committee on Custom to force the Nigeria Customs Service to discuss all matters with our NECOM, in particular the arbitrary increase in the value of the PAAR.
“Members of the NEC, the recent event in which customs unilaterally increased the value of 40ft containers to three million naira proved us right and we are all living witnesses to the consequences of this.
“There is an urgent need for NECOM members to seek an audience with the federal government, through the Federal Ministry of Finance, before things get out of hand. The level of imports to Nigerian ports has fallen by around 50 percent lately due to this overbearing of the current leadership of NCS.
“NEC should immediately call for the reorganization of the Nigerian Customs management team to reorganize our country’s struggling economy or, better yet, we advise the federal government to seek out a large, experienced and qualified officer to lead the service out of the country. of the present. quagmire. The World Bank’s Logistics Performance Index 2021 indicates that this current management team lacks the ideas, professional and technical knowledge to move our economy forward. Every developing country like ours has continued to use the COVID-19 backlash in positive ways to advance its economy.
“We also insisted that management provide us with the standard operating procedure that will be used for the implementation and operations of the newly acquired Scanners machine before it becomes bastard. We noticed a version about a few hours ago and our Policy and Strategy Committee is hereby mandated to study it and report back to NECOM.
“The NCS management team has shown with all its policies that it is not a professional institution, so the struggling economy will continue to be in a coma, it is thanks to its intention to generate only of revenues, distorts Nigerian importers by slamming them with a frivolous demand. notices and arbitrary increase in Pre-Arrival Assessment Reports (PAAR) without discrimination, which overrides all international and national regulations such as GAAT, Article Vii and the Assessment Act 20 of 2003, respectively. “
YOU MUST NOT MISS THESE NIGERIAN TRIBUNE TITLES
FALSE! Yoruba is not an official language in Brazil
Claim: A national newspaper and several online platforms claim that Brazil has adopted Yoruba as an official language and that the language will be included in the curricula of primary and secondary schools.
Verdict: The claim is false. The content of the article published by these online platforms is not new; it has been put back into circulation several times and has been debunked. Nigeria’s Imports Fall 50% Against Tariff Rise, Importers Lament


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Food prices in Turkey have been on a rapid ascent since the Lira's quick depreciation this past summer. The rise in prices is not only a result of the currency's depreciation, but is also a result of price gouging that has become a self-fulfilling prophecy, feeding on itself, over the last 6 months.
According to Bloomberg, the price of eggplants, cucumbers and tomatoes in Turkey has jumped 81%, 53% and 39% on a monthly basis, respectively. Food inflation in Turkey is at 31% annualized.
The Turkish government's rhetoric toward vendors raising prices has been strong, labeling price gougers "traitors" and "terrorists".
But this rhetoric isn't working, so President Erdogan's regime is backing up their threats with fines. The Turkish government is now issuing fines after raiding wholesale food markets in five provinces on February 6 and uncovering exorbitant price increases of up to 800%.
The administration is looking to cut out middlemen by purchasing vegetables directly from farmers and selling them at lower prices in major cities. Government run vendor tents are up and running at numerous locations as of Monday and sales will soon be expanded to include cleaning products.
In addition to the depreciation of the Lira, flash floods in Antalya have also contributed to food shortages, forcing prices upward. Despite this, Treasury and Finance Minister Berat Albayrak has dismissed the idea that weather is in any way to blame.
“The inflation reduction campaign is perceived to distort relative prices and to be unsustainable,” a recent Bank of America report read.
Municipal elections in Turkey are just two months away and the fight against inflation will be the hallmark issue. High food costs have disproportionately affected poorer sections of the 82 million people that live in Turkey - many of whom are traditionally supporters of the President's party. In taking the fight to local areas and warehouses, President Erdogan is trying to make a statement that he is going to fight inflation with the same vigor that the country has used to defend itself militarily in the past.
Erdogan said Sunday: “The government will finish off those terrorizing wholesale food markets in no time, the way it finished off those terrorists in caves.”
“Our inspections will continue across Turkey at full steam to give no respite to opportunists,” Trade Minister Ruhsar Pekcan said.


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(Reuters) - Applied Materials forecast first-quarter revenue and profit above Wall Street estimates on Thursday, as the chip gear maker expects more clients to upgrade their equipment ahead of the 5G rollout in key markets.
Shares of the company, whose results are seen as a barometer for the semiconductor industry, rose 4% in extended trading.
The company is looking to benefit from chipmakers trying to upgrade their equipment as they pack more computing power into smaller chips in the wake of the 5G rollout and data center growth.
“We’re optimistic about 2020, with an expectation of sustained strength in foundry, logic and a step-up in memory investments during the year,” said Chief Executive Officer Gary Dickerson in a call with analysts.
Sales from China, its largest market, rose 5.5% to $1.20 billion in the fourth quarter, contributing 32% to the overall revenue.
Revenue from semiconductor systems, which supplies gears for chip makers, rose 2.5% to $2.30 billion, edging past FactSet estimates of $2.23 billion.
The company forecast first-quarter revenue to be about $4.10 billion, plus or minus $150 million, above analysts’ estimates of $3.71 billion, according to IBES data from Refinitiv.
It expects adjusted profit to be in the range of 87 cents and 95 cents per share, above market expectations of 74 cents.
The upbeat forecast comes amid a 16-month long trade U.S.-China dispute and a decline in memory prices that began with an oversupply of DRAM and flash memory.
Revenue fell marginally to $3.75 billion in the quarter ended Oct. 27, but beat analysts’ estimates of $3.68 billion, according to IBES data from Refinitiv.
Excluding items, the company earned 80 cents per share, above analysts’ estimates of 76 cents.
Reporting by Ayanti Bera in Bengaluru; Editing by Amy Caren Daniel
Our Standards: The Thomson Reuters Trust Principles.


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Antutu Benchmark has just released its latest list of best-performing Android smartphones released in China. So while we’re still waiting for the global rankings, we’re sharing the newly revealed information with you now. After all, many of the models that got included there are also available on the international market.
So which handsets made it to the November 2021 rankings? Do we see new players, or are they more of the same? Read on to find out.
Top 10 flagship Android smartphones
In October, Xiaomi‘s Black Shark 4S Pro dislodged another gaming phone, the RedMagic 6S Pro, from the top. Last month, it held on to the No. 1 spot with its high average benchmark score of 875,382. The RedMagic’s 852,719 rating wasn’t even close.
There are two things that we immediately noticed while scanning the highest-ranking premium Android devices. First, the top seven were the same as the ones in October — with similar rankings, too! It’s just that the OPPO Find X3 Pro climbed to ninth place from 10th, and the Lenovo Legion Phone Duel 2 and Realme GT 5G entered the list. Second, all 10 smartphones you see below are powered by either a Snapdragon 888 Plus or Snapdragon 888.
We’ll probably see most — if not all — of them again next month if handsets that are based on the newly announced Qualcomm Snapdragon 8 Gen 1 and MediaTek Dimensity 9000 chipsets won’t be released soon.
Top 10 midrange Android smartphones
Just like the one for flagships, the chart-toppers in the midrange category in November were more of the same. The differences? The OPPO K9s 5G and Redmi Note 11 Pro Plus got in, placing second and 10th, respectively, with average Antutu scores of 536,265 and 466,675.
Main image via Weibo
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Lotus Herbals launches ‘Go Glow Girls’ campaign with Jacqueline Fernandez
Beauty brand Lotus Herbals has launched a social media campaign ‘Go Glow Girls’ for its flagship brand, Lotus Whiteglow, with its brand ambassador and Bollywood actress, Jacqueline Fernandez.
With this campaign, the brand will also launch a month-long contest to select four girls from across India, who will be the social faces of the brand for the next two months.
Through this campaign, Lotus Herbals plans to connect with the millennials directly on social media and expand its customer base through social media influencers.
Commenting on the launch of the campaign, Nitin Passi, joint managing director at Lotus Herbals, in a statement said: “This is the first time that we are embarking on a nationwide hunt to discover new talent who will be the social faces of the brand. With this campaign, we aim to break through the clutter and engage directly with millennials, who form a large part of our consumer base.”
Jacqueline Fernandez added: “This is a fun peppy campaign and it’s wonderful that Lotus Whiteglow is creating a platform where budding talent can showcase their creative skills. It’s a perfect medium to connect with young aspirational women and I am really looking forward to seeing the new Glow Girls.”
Founded in 1993, Lotus Herbals is one of the leading players in the country’s beauty care segment. It has over 30 exclusive stores pan India and sells on leading e-commerce websites like Amazon, Nykaa, Myntra, Flipkart, and others.
Copyright © 2021 FashionNetwork.com All rights reserved.


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China has long been the hot spot of sourcing as well as manufacturing all types of products at the cheapest price. Wages for labor in China, which have large workforces, can be 80 percent to 90 percent lower.
Climate risks, cyber-attacks, the US-China trade war, and the ongoing pandemic are some of the reasons that have prompted many companies to re-examine supply chains from China.
Leaving China is not the right move for the businesses
But the truth is, leaving China from a sourcing perspective isn’t the right move for all companies. Making in China might also be key to tapping into the huge China domestic market. The manufacturing sector has changed, bringing new opportunities and challenges to business leaders. China is a country with relatively stable political and economic environments, productivity and efficiency in manufacturing, modern infrastructure, and a compatible legal system that international companies will hardly find anywhere else. Irrespective of the tensions in the political arena, China is still attracting a huge investment internationally.
Companies all across the world are seeing China in a totally different light in terms of doing business for the following reasons:
- A huge network of dropshipping supplier base
China is one of the Asian countries where Western businesses can find a huge network of trusted Chinese dropshipping suppliers. These suppliers import raw materials, or sub-components of different products, and then give them to manufacturers to transform them into finished, ready for retail products.
- China as a center for innovation
In recent years, China has evolved from its role primarily as a manufacturing center to a center for innovation. China now ranks 17th in the world on the Global Innovation Index: Energizing the World with Innovation, which ranks innovation clusters in 126 countries. There are a number of innovation hot spots in China that stand out as global players.
- China will lower its value-added tax
The Chinese government has launched a series of Value-added Tax (“VAT”) reforms over the past few years to align its VAT system with internationally accepted principles, and to adapt to the economic development in China and the world at large. The government is also expected to upgrade the status of the VAT rules with respect to formal legislation and implementation rules. China will lower its value-added tax (VAT) rates as part of an RMB 2 trillion (US$298.3 billion) cost cut package, as the government seeks to reduce costs for businesses amid a slowing economy and tariff dispute with the US. The 16 percent VAT rate, which applies to the manufacturing sector, will be lowered to 13 percent.
No other country can offer these sorts of benefits. And that’s why China is a favorite destination for sourcing managers and industry professionals around the world.


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Posts Tagged «ps4»
Download corrupted: The incredible history of downloadable console games January 21, 2014 at 11:53 am
Since 1981, the gaming industry has been actively trying to solve the problem of digital distribution. Custom cable services, direct connections over phone lines, and screwball modem accessories are all artifacts from the ’80s and ’90s. It was very much the wild west in terms of networking, and we owe much of our enjoyment to the toil these companies went through to deliver games over the wires. To pay homage, let’s take a look back to see just how downloadable content and digital distribution came to be.
Sony’s PlayStation Now uses custom-designed hardware with eight PS3s on a single motherboard January 17, 2014 at 1:06 pm
Sony is developing new PS3 server hardware with eight consoles per board to combat lag and space limitations.
The rise of second screen gaming: Where will the PS4 and Xbox One take us? January 15, 2014 at 12:45 pm
The concept of “second screen gaming” has gained significant traction over the last few years. It may seem like little more than a bullet point on the spec sheets of the PS4 and Xbox One, but secondary screens actually have a long history in the world of gaming. In fact, we’ve been using multiple screens for over three decades now. To better understand this growing trend, let’s take a look at the history of the second screen, and examine its evolution in the marketplace.
CES 2014 in pictures: 5K TVs, the world’s noisiest Dalek, an aimbot rifle, and more January 13, 2014 at 1:09 pm
Sometimes words don’t tell the whole story. Here are some of our favorite photo highlights from CES 2014
PS4 and Xbox One: It won’t be long before graphics actually look next-gen January 9, 2014 at 10:45 am
The PS4 and Xbox One have some sharp-looking games, but those launch titles aren’t setting the world on fire. Sure, the new Killzone and Dead Rising look better than previous entries, but not enough to justify the price of a new console for many gamers. Thankfully, better-looking games are just over the horizon.
CES 2014: Gaikai becomes PlayStation Now, streaming games to just about everything January 7, 2014 at 3:09 pm
We’ve only had the feature for a couple of console generations, but nearly every gamer was unhappy that both the PS4 and Xbox One dropped backwards compatibility just a couple of generations after it made a huge impact. Sony, though, always said it was planning to bring the feature to the PS4 via the Gaikai streaming tech it purchased what feels like oh so long ago. At long last, the plan has been unveiled, and it’s called PlayStation Now.
PS4 sells 4.2 million units in 2013, beating the Xbox One comfortably January 7, 2014 at 2:12 pm
At CES 2014, Sony has announced that the PS4 has sold 4.2 million units as of December 28, 2013. Yesterday, Microsoft revealed that it had sold 3 million Xbox Ones as of the end of 2013. It would appear that the PS4 is outselling the Xbox One by some margin, but the bigger picture is actually a lot more complex than that.
PS4 owners watch three times more porn and have better taste than Xbox One owners January 3, 2014 at 12:09 pm
According to SugarDVD, the Netflix of porn, PS4 owners are watching three times as much porn as Xbox One owners. This massive discrepancy isn’t caused by the PS4 outselling the Xbox One, either: The latest figures put the PS4 at 3.4 million units sold, versus 2.4 million for the Xbox One. In short, it really does seem that PS4 owners are much more likely to partake in the porn than those with an Xbone. Furthermore, it seems that each console also has rather different tastes in porn consumption as well: Xbox One owners, you’ll be unsurprised to hear, are connoisseurs of Big Butts, while the PS4 crowd prefer Amateurs.
A disc-free, hard-drive-only Xbox One could be on the cards January 3, 2014 at 10:40 am
As late as the summer of 2013, Microsoft was still toying with the idea of releasing an Xbox One model completely lacking an optical drive. That would have been a very different machine, and could have drastically changed this generation. After all of this back and forth with the gaming community, I’m left wondering if Microsoft could still release a new Xbox One SKU in the coming years with no disc support whatsoever.
AMD announces Mantle delay as BF4 battles bugs January 2, 2014 at 3:54 pm
AMD’s Mantle API was supposed to debut in December with a Battlefield 4 patch, but the deployment has been delayed. Problems with BF4 have forced Dice to prioritize fixing the underlying code rather than integrating new support. According to AMD, Mantle will still launch in January, once the game is in better shape.


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There aren’t many reasons to be grateful for the Microsoft Store, but Darksiders fans might have one.
If you head over to the listing for Darksiders 3 on the Microsoft Store right now, you’ll see a neat surprise: Tuesday, November 27. (Internationally, it’s listed as November 26.)
That’s the listed release date for Darksiders 3, anyway, which at least gives everyone some kind of expectations. The only release date announced for Darksiders 3 before then was “2018”, which appeared not long after Amazon helpfully leaked the game’s existence.
THQ Nordic’s official website hasn’t confirmed the date just yet; their official release date calendar is still listing “TBA 2018” as the release date for Darksiders 3. If the Microsoft listing is correct – and it’s a logical window, and not something silly like a placeholder date on a Sunday at the end of the month – that would have THQ Nordic launching the action-adventure a week after the console release for Wreckfest.
THQ Nordic (formerly Nordic Games), picked up the rights to Darksiders following THQ’s asset firesale several years ago. The company paid $US4.9 million for the rights in a package deal, which included the IP for Red Faction, MX vs ATV, Supreme Commander, Darksiders, and other “owned” or “licensed” software.


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There are 6,000 kids signed up for the toy distribution at Sacred Heart Community Service. The charity is hoping to give three toys to each of the kids and is about 3,000 toys short of that goal.
The charity is looking for donations of books and teen gifts. Sacred Heart is located on South First Street and West Alma Avenue.
This morning's event will begin at 8 a.m. and another toy distribution will take place on Monday.


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Wine and Food Pairings Explained By Science: It's All About Mouthfeel
The classic pairing of wine and cheese is officially backed by science! A recent issue of Current Biology explains why we enjoy the two together -- besides the fact that they're delicious!
Findings published in the October 9th issue of Current Biology suggests that mouthfeel, the way food feels in our mouths, is responsible for the phenomenon. In a release, the publication's publisher, Cell Press, explains that "astringent wine and fatty meat are like the yin and yang of the food world, sitting on opposite ends of a sensory spectrum."


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Car and Driver magazine’s testing director Dave VanderWerp has compared the EPA’s fuel economy and range estimates to the results of his own real-world highway tests.
He found that electric vehicles underperform in efficiency and range relative to the EPA figures by a much greater margin than gas-powered vehicles. Gas vehicles averaged 4 percent better than their stickers indicated. The average range for an EV was 12.5 percent worse than the window sticker numbers.
VanderWerp says that while the EPA tests separate city and highway range figures, only a combined number is presented to consumers. The combined rating is weighted 55 percent in favor of the city figure, where EVs typically perform better. This inflates the EV range estimates.
We are not opposed to electric vehicles, but when car companies exaggerate their mileage performance, this is a scandal and they face steep fines. Will EVs face the same scrutiny? Or is the government a co-conspirator in green fraud?


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Jun 18, 2018
Steinhoff Africa Retail plans to change name to Pepkor
Jun 18, 2018
South Africa’s Steinhoff Africa Retail (STAR) plans to change its name to Pepkor Holdings Limited to help distance itself from scandal-hit parent company Steinhoff International.
Steinhoff International has been fighting for survival after it discovered accounting irregularities in December which sent shares in both companies tumbling and sparked panic about the credibility of STAR’s own accounts.
STAR, which previously said it was financially independent of Steinhoff, said its Pepkor business contributes the majority of the firm’s revenue and operating profit and is representative of the group.
“The Pepkor brand and its related brands have an incredible legacy and history of success,” said STAR in a statement.
Shares in STAR, which runs Africa’s biggest apparel discount chain Pep, rose 2.5 percent to 17.78 rand by 1427 GMT.
Businessman Christo Wiese, who turned Pepkor into Africa’s biggest clothing retailer, stunned Steinhoff in April with a $5 billion lawsuit that relates to a 2016 capital injection to pay debt and fund the acquisition of the U.S. company Mattress Firm and an acquisition by Steinhoff of Pepkor in 2015.
Wiese was chairman and biggest shareholder in Steinhoff until December last year.
STAR raised 16 billion rand from local financial institutions last month to repay shareholder loans provided by Steinhoff as part of STAR’s listing in September 2017.
Steinhoff, which owns Poundland in Britain, Mattress Firm in the United States and Conforama in France, spun off STAR in August last year to get a higher rating for its developed market businesses and to give investors keen on exposure to Africa a chance to invest in STAR directly.
Steinhoff retains a 71 percent stake in STAR, according to Thomson Reuters Eikon data.
© Thomson Reuters 2023 All rights reserved.


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|Belgian Minister for Health, Laurette Onkelinx|
Details concerning new measures aimed at protecting children from mobile phones
RTBF, 25 February 2013 (translated from French)
Today, the majority of teenagers are hooked on mobile phones. The latest report of the International Agency for Research on Cancer of the World Health Organization (WHO) considers that its use is “possibly carcinogenic for humans” and that intensive use is dangerous. It did not need more for the Belgian authorities to react. There will be rules to follow.
The Ministers for Health and for Consumer Affairs are encouraging a better protection of young users. In order to limit use, there will be rules to follow which mainly concern sales and advertising.
There will no longer be advertising specifically targeting children younger than 14 years of age. Sellers will be obliged to inform their customers of the “specific absorption rate” of mobile phones, that is, the level of radiation of the device. The sale of mobile phones specifically designed for young children up to age 7 will be banned in Belgium.


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Danimer Scientific is Going Public via a Merger with Live Oak Acquisition Corp.
- Danimer produces biodegradable material in high demand for bottles, straws, containers
- Partnerships include PepsiCo, Inc., Nestlé S.A. and Walmart Inc.
- Company sees 59% annualized sales growth, 140% Ebitda growth though 2025
- Sales contracts secured by “take or pay” terms, making forecasts very accurate
- Global biopolymer market is seen exceeding $13 billion by 2021
- Existing shareholders rolling 100% of their equity into public company
- Discounted to comps at multiples of 1.3 times 2024 sales and 4.2 times 2024 Ebitda
Investors building green portfolios are often overwhelmed by how many stocks there are to choose from. But in some industries, the choice can be simple.
It’s no coincidence that PepsiCo, Inc., Nestlé S.A. and Walmart Inc. have all bolstered their corporate social responsibility (CSR) by partnering with Danimer Scientific, which makes biodegradable material used in everything from bottles to straws to packaging. With the company going public via a merger with a SPAC called Live Oak Acquisition Corp. (Tickers: LOAK, LOAK-UN, LOAK-WT), investors have a rare chance to own a pure ESG play that’s also bringing sustainable jobs to mining country.
Danimer, based in Bainbridge, Georgia, sells a greener alternative to traditional plastic products. On its face, the science isn’t complicated: Canola oil is fed to bacteria which produce a byproduct called a biopolymer. That is turned into a resin that can be shaped into a bottle, fork, or straw that will keep its shape in a kitchen pantry and only disintegrate once exposed to more bacteria – in the ocean, for instance.
But mass production takes decades to refine and Danimer has a big lead over rivals. The company boasts a portfolio of over 125 patents across 20 countries, purchased from Procter & Gamble in 2007. The company has spent the last 13 years perfecting its technique, setting the stage to meet massive demand.
The global biopolymer market is seen exceeding $13 billion by 2021, according to data from Transparency Market Research. With so little of material like Danimer’s available, the company is set to sell as much as it can churn out.
Live Oak CEO Rick Hendrix told IPO Edge that his SPAC wasn’t on a mission to find a company with strong ESG credentials but embraces the “green” characteristics of the company. It was the underlying business model that piqued his interest. He pointed out that Danimer has highly unusual – and highly attractive – features such as multiyear sales contracts with “take or pay” terms. That means essentially all of the planned production capacity will translate to sales dollars.
Danimer is in the process of scaling up production capacity of its biodegradable plastics at its facility in eastern Kentucky that is providing much-needed employment to regions hit hard by the loss of manufacturing and coal mining jobs in recent decades. The election of Joe Biden could also be seen as a boon after the then-candidate said that plastic is a threat to safe water in his climate plan and he supports phasing out single-use plastics.
The Kentucky facility began shipping product in March and is sold out to capacity of about 20 million pounds annually. The company will use the proceeds of the SPAC transaction to fund a major expansion of its plant, to raise that capacity to about 65 million pounds a year by 2025.
Danimer also plans to break ground on a second facility in early 2022, which may open the following year and reach 125 million pounds of annual capacity by 2027. Danimer forecasts $513 million in sales in 2025, with earnings before interest, taxes, depreciation, and amortization (Ebitda) of $169 million. That’s an increase from $51 million in sales and $2 million in Ebitda expected this year.
An assessment of demand from blue chip customers indicates enormous potential – well beyond what Danimer already forecast. PepsiCo has a commitment to 100% recyclable or compostable packaging by 2025. McDonald’s has a similar goal. And Coca-Cola, Nestle, and Genpak all have initiatives to reduce their reliance on fossil fuel-derived packaging and containers. The bioplastic packaging market will grow almost $6 billion between 2020-2024, at an annualized growth rate of almost 18% during the period, according to research company Technavio.
At the current share price, Danimer trades at just 1.3 times 2024 forecast revenue and 4.2 times forecast Ebitda. By comparison, Croda International Plc commands a multiple of 16.6 times 2024 consensus revenue and 5.3 times Ebitda, according to Sentieo, an AI-enabled research platform. Novozymes A/S trades at even richer multiples of 6.6 times 2024 sales and 18.1 times Ebitda.
In a vote of confidence, existing shareholders are rolling all of their equity into the new company. With the shares only up about 7% from the SPAC’s listing price of $10, investors should consider buying now or risk turning green with envy.


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Most commentators tend to agree that Apple mainly bought Beats for a head start into music streaming, but the Cupertino giant has repeatedly shown its willingness to support the headphone lineup that first made Dr. Dre and Jimmy Iovine's brand such a big name. According to a new report, that may also mean that Apple will start letting Beats customers take their devices up to their local Genius Bars for repair.
Well, the rumor mill is definitely talking about the iPad Air 2, but nothing like it did the iPhone 6 series. Interesting. Well, we certainly hope Cupertino is able to wow the crowds at their October 16 event, and we expect next week will kick things up a notch with leaks and rumors. Meanwhile, what else shook free in the news this week?
Just hours after a rumor circulated that Apple would start telling its employees to remove all Bose products from the shelves of its stores, a new report emerged at Reuters claiming that the two companies have reached a settlement. The details aren't clear, but the matter is allegedly “resolved” and Bose won't press its patent-infringement suit directed at Beats' headphones.
The Apple Watch continues to impress fashionistas, who will see the device featured prominently on the wrist of a supermodel in the next issue of Vogue China. Our Friday Morning Report has the details on that, as well as a possible escalation in the Beats-Bose skirmish that could see the latter ejected from Apple retail stores, plus details on the latest Skype for Mac update. We've got all the news, just a click away...
Now that the dust has settled in the wake of Apple's widely publicized announcement of its acquisition of Beats Electronics (which still has yet to close), the Cupertino company's starting to learn that it brought some unexpected baggage with it. Bose today filed a lawsuit against Beats, claiming that the company infringed on five of the company's patents.
Whenever I’m on an airplane, as soon as passengers are allowed to use electronics, at least a half-dozen pairs of Bose’s Quiet Comfort headphones pop out of carry-on bags. Despite increased competition, Bose’s noise-canceling headphones are pretty much the standard for air travel.
Portable speakers are known for being portable first, and sounding great...well, almost never. Bose is aiming to change that perception with the SoundLink Mini, a diminutive 1.5-pound speaker that connects to any device via Bluetooth. With seven hours of playback on a single charge, and surprisingly good bass, the SoundLink Mini is an itty-bitty powerhouse, whether it’s on your desk or hanging out in the backyard.
The worst part about airplane travel is, well, the plane. Besides being
cramped, crowded, and short on any decent snack foods, they’re also
noisy. So noisy that it’s difficult to make the hours zip by more
quickly by revisiting your favorite albums on an iPod or watching a
movie on your MacBook. Bose’s new Quiet Comfort 15 headphones are made
for just these moments. The active noise cancellation helps block out
background noise, and Bose’s considerable audio experience brings you a
clean-sounding set of cans--with a couple of drawbacks, however.