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- What’s this about? Safaricom and Pezesha have launched Mkopo wa Pochi, a new loan product designed to provide credit to small business owners through their M-PESA business accounts, enabling better financial management by separating business and personal funds. Safaricom customers can now borrow…
- What’s this about? The Finnish Government has announced 12 million Euros in funding to TradeMark Africa (TMA) to reduce the time and cost of cross-border trade and support inclusive, clean, and digital trade in Africa. Finland’s Minister for Foreign Trade and Development, Ville Tavio, emphasized…
- What’s this about? Ukheshe has rebranded to EFT Corporation to consolidate its digital solutions and expand its presence across Africa and beyond. The rebrand follows Ukheshe’s acquisition of EFT Corporation and aims to drive growth through innovation and strategic partnerships, with a focus on…
- In the buildup of the Nigerian e-Mobility Innovation Hackathon that was held on the 28th of March, 2024, Oando Clean Energy Ltd.(OCEL) has invited four out of the eight startups that participated in the Hackathon, to an exclusive pitch session and possible collaboration towards the enhancement of…
- What’s this about? Nigeria’s FIRS dropped tax evasion charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla, leaving Binance as the sole defendant amidst international scrutiny over Gambaryan’s detention. Despite the tax evasion charges being dismissed, Tigran Gambaryan remains…
- What’s this about? Brass’s takeover by a group of investors led to a restructuring that resulted in layoffs for 16 furloughed employees and offered remaining staff the choice to resign or re-interview for their positions. The new management’s operating model focuses on prudent runway management,…
- What’s this about? Airtel Kenya expanded its 5G network to cover 39 counties and 285 wards, with plans to increase to 1690 operational sites by the end of the year due to rising 5G users. The number of 5G network users in Kenya increased by 13.3% in the three months leading up to September 2023, ……
- What’s this about? MultiChoice Group experienced a 9% decline in total active subscribers for FY24, with significant drops in key markets due to currency depreciation, but managed to increase revenue organically by 3%. Showmax, MultiChoice’s streaming platform, saw a 22% organic revenue growth…
- What’s this about? Visa has partnered with ThriveAgric to support its expansion into Kenya, establishing local hubs in Busia and Homabay counties to benefit up to 10,000 smallholder farmers through training and financial inclusion. The initiative aims to enhance the digital payments ecosystem for…
- What’s this about? Airtel Africa has partnered with Network International to enhance payment processing across the Middle East and Africa, aiming to improve digital financial services and customer experience. The collaboration will enable Airtel Africa to leverage Network International’s expertise…
- What’s this about? The Central Bank of Kenya (CBK) plans to grant payment licenses to fintech startups, including Flutterwave and Chipper Cash, by updating the National Payment Systems Act of 2011. The proposed changes aim to create a legal framework for fintechs to operate, potentially removing…
- What’s this about? Egyptian pharmaceutical distribution startup i’SUPPLY has raised a pre-Series A funding round, bringing its total funding to $2.5 million since its inception in 2022. i’SUPPLY’s tech-enabled platform connects over 10,000 pharmacies with more than 200 distribution companies,…
- What’s this about? Abu Dhabi is the fastest-growing startup ecosystem in the MENA region, with a 28% growth in ecosystem value and a 15-spot jump in the global rankings. The city ranks #2 in performance, #5 in funding, and #5 in talent and experience within the MENA region. Strategic incentives and…
- What’s this about? Access Bank has acquired African Banking Corporation of Tanzania (ABCT) Limited, enhancing its East African presence and furthering its continent-wide expansion. The acquisition aims to strengthen Access Bank’s East African banking network and drive intra-African trade, merging…
- What’s this about? Egyptian fintech Sahl has raised $6 million in Series A and seed funding to enhance and expand its services as a comprehensive bill payment platform in collaboration with government agencies. Sahl plans to strengthen its presence in Egypt, broaden its regional reach, and become a…
- What’s this about? Adia Sowho has stepped down as Chief Marketing Officer of MTN Nigeria, having driven significant growth, including over 20% YoY in consumer business and 50% YoY in the data business, and overseeing the launch of 5G during her tenure. Ugonwa Nwoye, MTN Nigeria’s Chief Customer…
- What’s this about? Baobab Nigeria has launched Jollof+, a high-interest savings application with various plans designed to help Nigerians save efficiently and combat inflation. Jollof+ offers four savings options—Jolloflock, Ajo+, BabyBox, and Jolloflex—each with competitive net interest rates…
- What’s this about? Fifteen Nigerian startups have advanced as finalists in the second edition of the Pitch2Win competition, offering a chance to win up to US$10,000 in prize money and a trip to Japan’s IVS2024 Kyoto crypto conference. Hosted by Techcircle and partners, the competition on June 12…
- What’s this about? BotswanaPost has launched the DigiPost platform and the comprehensive Posa’it app to modernize financial and postal services, aiming to enhance convenience and accessibility for its users. DigiPost, developed in partnership with Software Group, enables individuals and SMMEs to…
- What’s this about? Norway’s Minister of Foreign Affairs, Espen Barth Eide, reaffirmed Norway’s support for Kenya’s e-mobility sector during his visit to BasiGo’s Charging and Service Depot in Nairobi. Norfund, the Norwegian investment fund for developing countries has a significant investment in…
- What’s this about? The UNDP has opened applications for the Timbuktoo Fintech Startup Accelerator, offering $25,000 in equity-free funding, mentorship, and networking opportunities to selected African fintech startups. Eligible startups must be African-owned, technology-focused in the financial…
- What’s this about? The United Nations Office for the Coordination of Humanitarian Affairs (OCHA) has appealed for $4.7 billion to aid 20.9 million vulnerable individuals in Nigeria, Chad, and five other African countries facing complex crises in the Sahel region. The OCHA emphasizes the urgent need…
- What’s this about? CcHub has launched “Let’s Build, Africa,” a market-entry programme to help African startups expand into new markets within the continent. CcHub, which began as Nigeria’s first open living lab in 2010, has grown to include several pan-African innovation enablers such as the CcHub…
- What’s this about? LAfricaMobile, an Ivory Coast-based cloud communication startup, raised $4.6 million in Series A funding to expand across French-speaking Africa. The company, founded in 2014, facilitates large-scale communication campaigns via mobile technologies and has connected over 15…
- In a time when information is constantly circulating, being knowledgeable is more than just an advantage; it’s essential. The surroundings we live in are continuously changing, with events happening quickly, ranging from worldwide geopolitical changes to local community progress. Keeping up with…
- What’s this about? Stanbic Bank Kenya and Mobikey Kenya have signed an MOU to make vehicle financing more accessible and affordable, offering competitive interest rates and 80% & 70% financing for trucks and trailers respectively. This partnership is Mobikey’s first local collaboration, aimed…
- What’s this about? The Federal Government plans to suspend import duties and other tariffs on essential items, including staple foods, pharmaceuticals, and agricultural inputs, for six months to curb inflation. An executive order mandates the Ministry of Finance and the Central Bank of Nigeria to…
- What’s this about? Oando Plc resumes trading on the Johannesburg Stock Exchange after a three-month suspension due to delays in financial reporting, with confirmation of trading resumption received on June 5, 2024. Despite facing a suspension from the JSE for failing to meet financial reporting…
- What’s this about? Zambian startup Bosso, a construction e-commerce platform, secures a US$400,000 pre-seed round to develop its platform and add new features while also aiming to address Africa’s housing deficit with its holistic B2B and B2C solution. Bosso, founded in 2022, boasts Zambia’s…
- What’s this about? ECOWAS and TradeMark Africa have forged a strategic collaboration aimed at enhancing trade facilitation, leveraging digital technologies, and promoting economic integration in West Africa. The agreement, formalized during a signing ceremony in Nairobi, Kenya, focuses on utilizing…
- What’s this about? The Central Bank of Nigeria (CBN) revoked Heritage Bank’s licence due to financial instability and a breach of Section 12(1) of the Banks and Other Financial Institutions Act 2020. Heritage Bank has been struggling financially for years, failing to attract strategic investors and…
- What’s this about? The Central Bank of Nigeria (CBN) has lifted the ban on new account openings for OPay, Moniepoint, Kuda, PalmPay, and Paga, which was initially imposed to combat fraud in the industry. The ban was lifted after the fintech companies satisfied the CBN’s KYC standards, following…
- What’s this about? Schneider Electric launched the Villaya Flex microgrid solution to serve off-grid communities in Nigeria as part of its Access to Energy (A2E) programme, announced at the Energy Access Investment Forum (EAIF) in Lagos. The A2E programme is integral to Schneider Electric’s…
- What’s this about? Sterling Financial Holdings will seek shareholder approval at a June 24 meeting to raise ₦200 billion through a rights issue, offering 40 billion ordinary shares at discounted prices. The fundraising aims to meet recapitalization requirements for the two Banking subsidiaries,…
- What’s this about? The Mastercard Foundation, in collaboration with Nigeria’s federal government, is hosting its first EdTech conference themed “Education technology for resilient and inclusive learning in Africa” from July 8-10, 2024, at Hilton Transcorp in Abuja. The conference aims to discuss…
- What’s this about? Botswana grants Starlink an operating license after a government delegation meets with SpaceX in the US, following a previous rejection and ban on the service. President Masisi fast-tracks Starlink’s licensing process in Botswana after a meeting with SpaceX, aiming to bridge the…
- What’s this about? A Memorandum of Understanding was signed by Kachifu Inuwa and Trixie LohMirmand to bring GITEX Africa, the continent’s largest tech showcase, to Nigeria in 2025. The event is expected to be held in Lagos and Abuja in September 2025, featuring a unique formula that aligns with…
- What’s this about? The Presidential Committee on fiscal policy, has proposed reducing personal income tax for Nigerians earning less than N2 million monthly and increasing it for those earning above N5 million. The committee recommends establishing a central tax agency, the Nigerian Revenue Service…
- What’s this about? The Patoranking Foundation, in partnership with ALX Africa, has launched a $500,000 scholarship program to provide tech training for 40 young Africans in fields such as data analytics, cloud computing, and Salesforce Administration. This initiative marks a significant milestone…
- What’s this about? Business mogul Jubril Dotun Sanusi has delivered the first set of electric motorcycles and solar-powered tricycles to Oyo, marking a significant step towards eco-friendly transportation. Sanusi emphasized the importance of green technology at the unveiling ceremony, highlighting…
- What’s this about? Kuda has raised nearly $100 million over five years, with CEO Babs Ogundeyi emphasizing the challenges African fintech startups face in securing foreign investment. Ogundeyi highlighted at the GITEX Africa conference, the strategic importance of Kuda’s UK headquarters for…
- What’s this about? Morocco’s YoLa Fresh secures a $7 million pre-Series A funding round from prominent investors, enabling the expansion of its innovative farm-to-retail platform connecting farmers directly with retailers and food service companies. Co-founders Youssef Mamou and Larbi Alaoui…
- What’s this about? Flutterwave has received a payment aggregator license from the Central Bank of Mozambique, enabling it to offer comprehensive payment services within the country and enhance its operations in southern African markets. Mozambique’s e-payment ecosystem is projected to grow…
- What’s this about? Thndr, an Egyptian fintech, has expanded into the UAE market after securing a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA), enabling it to offer direct access to US-listed securities and other…
- What’s this about? Nigerian banks have been expanding across borders in pursuit of additional value, which has contributed to the improvement of their financial performance. The foreign subsidiaries of four Tier-1 Nigerian banks collectively generated N627.027 billion in 2023, marking a substantial…
- What’s this about? The number of approved loan companies has increased from 266 as of the end of March 2024 to 284 as of May 2024, indicating that an additional 18 loan firms have been approved. The FCCPC’s updated list reveals that 232 companies have full approval, 41 have conditional approval,…
- What’s this about? Safaricom, in partnership with M-PESA Africa and Sumitomo Corporation, shortlisted nine startups for the Spark Accelerator Program, which offers training, mentorship, and go-to-market support to help them grow and scale their businesses. The selected startups span various…
- What’s this about? Johannesburg-based home services marketplace Kandua, founded in 2014, has been fully acquired by South Africa’s largest short-term insurer, Santam. Kandua, which connects over 40,000 vetted professionals to customers, will merge with Santam’s Home+ service to form an independent…
- What’s this about? British International Investment (BII) commits $30 million as an anchor investor in Helios Towers’ $850 million public bond offering, listed on the London Stock Exchange, to refinance existing debt and enhance communications infrastructure in underserved areas. Helios Towers’…
- Zoom in… Brass, a Nigerian digital bank for small businesses, has been acquired by an investment group led by Paystack, including PiggyVest and other investors, resulting in the exit of its co-founders. The acquisition follows a period where Brass faced a funding freeze that affected customer…
