Nigeria’s Fastizers secures $2m investment. One other story and a trivia

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This line-up of stories will help you discover the latest happenings around the tech world today.

1. Nigeria’s Fastizers secures $2M investment

Fastizers, a tech-enabled Nigerian snacks and confectionery manufacturer, has secured a $2 million investment from Aruwa Capital Management.

Aruwa Capital is an early-stage growth equity and gender lens fund that focuses on investments in Nigeria and Ghana.

The investment will enable Fastizers to expand its factory operations and diversify product offerings.

As part of the expansion, the company plans to introduce a new fully automated production line capable of producing over 1,200kg of snack foods per hour.

As a homegrown producer of snack foods, Fastizers not only contributes to the growth of the Nigerian snack food industry but also plays a crucial role in job creation and economic opportunities for stakeholders.

This development will also complement the company’s current lineup of delightful snacks, including Nibit©, Sweetstix©, and FunCookies©.

TECH TRIVIA: A JWT token’s payload contains data in which data format?

A. XML

B. CSV

C. JSON

D. RDF

Answer: see end of post

2. Salesforce leads $4b investment to Drive AI innovation

Salesforce, a United States software company, plans to invest $4 billion in its United Kingdom business over the next five years.

READ ALSO:Egypt Implements 5-Year Tax Exemption to Boost Startups. 1 other story and a trivia

This substantial investment comes as a response to the growing demand for digital transformations and artificial intelligence (AI).

The company’s latest commitment builds followed its previous investment of $2.5 billion in 2018.

This new injection of funds is seen as a significant boost to the UK’s technology industry, especially after Microsoft’s recent criticism of a regulatory decision blocking its acquisition of Activision Blizzard.

According to Microsoft‘s President, Brad Smith, the decision has caused a loss of confidence in Britain.

The British Prime Minister, Rishi Sunak, expressed his enthusiasm for Salesforce’s major investment, saying it serves as a strong endorsement of the UK’s economy.

Sunak had recently outlined plans to host a global summit on AI safety in Britain, highlighting the country’s commitment to regulating the responsible use of AI.

Salesforce aims to collaborate with the UK government to drive the next wave of digital transformation in the emerging era of AI.

The company emphasizes the importance of establishing a pro-innovation regulatory framework that ensures the secure and responsible use of AI technology.

Zahra Bahrololoumi, Salesforce UKI boss, emphasized the company’s focus on delivering secure, trusted, and enterprise-ready generative AI solutions for UK businesses.

Trivia Answer: JSON

JWT stands for “JSON Web Token.” A JWT is an industry-standard token that shares security information between two parties.

JWTs are compact and URL-safe, which allows web servers and clients to exchange them as part of an HTTPS request. The most common use for a JWT is for authenticating a user signed in to a website or web app, often through a single sign-on (SSO) service.

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