Business
Jumia revs up vendor loans to supplement its marketplace revenues
Jumia, an NYSE public listed e-commerce firm, is speeding up its lending offerings to its thousands of vendors to supplement...
Naspers invests $2.33m into DappRadar, a tracking platform for blockchain apps
Naspers' investment arm, Naspers Ventures has invested $2.33 million into Lithuania-based DappRadar, a global platform for discovering and analysing blockchain-based...
Safaricom wants Telkom & Airtel Kenya to pay Ksh 1.3 b debt before merger
Safaricom is not opposed to the proposed Telkom and Airtel Kenya merger, according to a statement by its chief executive...
Kenya’s MODE acquired by Singapore’s TransferTo (DT One) to bolster its global mobile top-up solutions
MoDE, Mobile Decisioning, a Kenyan mobile value-added services firm providing airtime credit to mobile network operators in emerging nations has...
SA’s MTN & Multichoice close branches indefinitely in Nigeria due to Xenophobia attacks
Following xenophobia attacks in Gauteng, South African businesses MTN, Multichoice, and Shoprite have closed shops in Nigeria and Zambia as...
First-Ever Oil Shipment Leaves Kenya & What It Means for the Economy
The final week of August may have been a momentous one in Kenyan history - but it appears to have...
Telkom Kenya blames Safaricom for derailing merger with Airtel
Telkom Kenya Limited and Airtel Networks Kenya Limited, announced, on February 8, 2019, an intention to merge their businesses in...
Erada Technology Alliance receives €288,000 from De Beers Group for its saliva-based diagnostic tests
Erada Technology Alliance, a South African heathtech startup, has received a €288 000 foundation grant from the De Beers Group...
ENGIE acquires Mobisol to expand its solar energy offering in Africa
ENGIE has acquired Mobisol, a struggling off-grid solar solution to expand its decentralized energy offering in Africa adding 3 additional...
11 startups join Plug and Play ADGM’s fall 2019 accelerator program
Plug and Play, the largest global innovation platform, and Abu Dhabi Global Market (ADGM), the leading international financial centre based...
Equity taps IFC’s head of financial institutions to accelerate its Pan African expansion
Equity Group has tapped the head of financial institutions in East and Southern Africa at the IFC as its Chief...
Knife Capital’s 4th Grindstone Accelerator Cohort Grew Revenues by 36%
Knife Capital, a South African venture capital firm, has announced its fourth Grindstone Accelerator cohort grew revenue by 36% created...
Sendy enters the big boys league with addition of long haul freight carriers
Sendy, Kenya's logistics platform has opened up its platform to include freight services from the inland container depot and long-haul...
Chinese Mobile Phone Maker X-Tigi Charged With $1.94 Million Tax Evasion in Kenya
Chinese Mobile Phone Maker X-Tigi with sales operations in Kenya, Mali, Nigeria, Burkina Faso, Guinea, Togo, Senegal, Cameroon, Dubai, Benin,...
Google Play Store publishes new policies to regulate predatory loan apps
The new policy is expected to greatly affect the booming mobile lending app industry in Kenya that mostly targets android...
Jumia to spin-off fintech arm JumiaPay for payments, loans & ticketing
Jumia, an NYSE listed e-commerce platform for Africa backed earlier on by MTN and Rocket Internet, is mulling spinning-off its...
The U.S. extends Huawei reprieve for 90 days but blacklists 46 more of its affiliates
The reprieve for Huawei Technologies and U.S. companies working with the telecom giant has been extended by the Trump administration...
OPay, Opera’s payments platform launches OBus in Nigeria & it’s not done yet
Opera's OPay, a payment and financial inclusion startup has launched OBus, a shuttle booking service in Nigeria to take on...
Huawei Ban | Will the US ever do business with China’s Huawei again?
Huawei’s 90-day reprieve expires today China's Huawei was banned from doing business with the US earlier this year as the...
Transsion Holdings & Wapi Capital Launch a $100K Startup Fund For African Fintech Startups
Transsion Holdings, the Chinese phone manufacturer behind TECNO, Infinix and iTel brands has partnered Kenya’s Wapi Capital to invest up to $100,000...
KCB Group net profits hits 12.7B due to increased mobile channel activity
KCB Group has posted a 5% growth in after tax profit to KShs. 12.7 billion for the first half of...
Naspers leads a $125m round into India’s Social Commerce Marketplace Meesho
Naspers, the South African ecommerce and media conglomerate, has led a $125 million funding round into social commerce marketplace Meesho...
Kobo360 raises $30m led by Goldman Sachs to enter 10 new countries across Africa
Kobo360, a digital marketplace for long distance hauliers connecting cargo owners to vetted and reliable trucks, has raised $30 million...
Samsung and Xiaomi surge in European smartphone market in Q2-report
Samsung rocketed to over a 40% market share in Europe in Q2, its highest for five years, as it shipped...
Cannabis firm Bangi, Inc. banking on M-PESA to woo Kenyan investors
BANGI, Inc. a US-based firm that acquires and leases specialized real estate assets in the cannabis, hemp and CBD industries...
NOTS Solar to Invest $70M in PayGo Solar Home Systems Manufacturing in Rwanda
NOTS Solar Lamps, an Amsterdam-based impact enterprise has signed a deal with the Government of Rwanda to accelerate the provision...
Nigeria’s fintech firm Innovate 1 Pay launches in UAE to serve the expanding market segment
Nigeria's payment gateway Innovate 1 Pay has opened its Dubai office to serve the growing customer base to the region....
Founders Factory & FMCG giant Reckitt Benckiser to invest in global startups in the homecare & hygiene industry
RB and Founders Factory have launched Founders Factory Hygiene and Home, a JV to back global startups in the homecare...
AfriLabs partners African Union to train 1m African entrepreneurs by 2021
AfriLabs, a pan-African network of 158 technology and innovation centers in 45 African countries has partnered with the African Union...
Vivendi Group to invest $40 million in an E-gaming lab & film recording studio in Rwanda
Vivendi Group, a subsidiary of French Bolloré Holdings is set to invest $40 million in Rwanda, after a partnership with...