Egypt Revives IPO Market with $110M United Bank Sale
Egypt launches first IPO in 3 years, selling 30% stake in United Bank, marking progress in privatization agenda
Bizbooq
A new cell phone carrier, Cape, is launching with a bold promise: to offer secure cell service that limits how much personal data users give up. This mobile virtual network operator (MVNO) is geared towards "high-risk" individuals like politicians, journalists, activists, and others who require an extra layer of protection.
Cape uses UScellular's network but runs its own core, allowing it to control the technology powering the mobile network and implement robust protections over what data enters and leaves users' phones. The service comes with a pre-configured Android phone featuring several privacy-focused features, including the ability to hide users' locations and rotate mobile advertising IDs to prevent tracking.
Cape's commitment to privacy is evident in its minimal data collection approach, storing user information for as little time as possible. The company's FAQ page proudly states, "We can't leak or sell data that we don't have." With modern cryptography and authentication protocols in place, Cape is poised to offer a secure alternative to traditional carriers. While it's too early to assess the service's effectiveness, Cape's concept is certainly attractive in a world plagued by data breaches and security threats. The company plans to expand its features to the general public early next year.
Egypt launches first IPO in 3 years, selling 30% stake in United Bank, marking progress in privatization agenda
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