All about Business.
Chari, a Moroccan B2B e-commerce and fintech business, has raised a bridge round of funding valued at US$100 million. Chari, which was founded in 2020 by husband and wife pair Ismael and Sophia Belkhayat, allows traditional local store operators in Morocco to order and have things delivered. It collaborates with more than half of the…
IFC and the Women Entrepreneurs Finance Initiative (We-Fi) announced a new call for applications for IFC ScaleX, a new program aimed at bridging the financing gap that women entrepreneurs continue to encounter, particularly in emerging countries, through supporting accelerators. IFC ScaleX is a performance-based project for which IFC has partnered with Village Capital to launch….
A new pan-African payment system eliminates historical complexities, such as the cost of cross-border payments, boosts operational efficiencies, and paves the way for more stable and stronger African currencies, all of which are expected to boost intra-Africa commerce. Following the formal debut of a new payment system in Africa, a Kenyan client can now pay…
The subscription economy has come of age. The notion is gaining traction in the United States and Europe for a wide range of services. Subscription models, such as Netflix for TV, Spotify for music, Adobe Creative Cloud for design services, and Ring for home security, have steadily woven themselves into our daily lives and enterprises…
Fintech platforms are increasingly looking for new ways to serve their clients, one of which underlines the motivation for the BNPL (Buy Now Pay Later) model that many have begun to use. This unique credit offering model has grown in popularity in recent years, owing to the rapid gratification and delayed payment that it offers…
With digital transformation accelerating faster than ever in the corporate landscape, most organizations now use a combination of business tools to conduct their operations across sales, marketing, finance, HR, and so on. All of these tools, more often than not, have a reporting module that shows department-specific data records and statements. However, isolated data such…
According to GlobalData, COVID-19 had a significant impact on online travel agencies (OTAs), with the OTA market value decreasing by a staggering 60.4 percent year on year (YoY) in 2020. According to the major data and analytics firm, this strain has exacerbated OTA’s previous fears about Google’s rising market position, and how the internet giant’s…
While the complete figures for 2021 aren’t in yet, eCommerce sales in 2020 were 32.4 percent more than the previous year. More than ever before, shoppers are expressing a desire to move their purchases online. This isn’t simply a global phenomenon; over 22 million South Africans click “add to cart” at least once a month….
Traditional media has long been the foundation of marketing and advertising campaigns. However, in a post-Covid-19 world where people have comfortably accustomed to a mobile-first, digital consumption model, the consequence of this transformation for this business is already obvious. This sector’s commercial business model has also been disrupted. Today, the digital first strategy provides companies…
Most business owners want to invest in their company in order for it to expand. In the early days, you may see exponential growth; people are learning about your company for the first time, they’re having positive first impressions, and the novelty of your brand is still fresh enough to help it spread. This is…
For as long as I can remember, the world of fashion has been my playground. When I went to Nigeria from London six years ago, I noticed that there was no stability in the African fashion industry’s production. The facilities were subpar, the garment quality was far from ideal, and the personnel lacked both education…
According to CM.com, many businesses are still responding to changes in the business environment brought on by the COVID-19 pandemic. The global crisis prompted many businesses to reconsider how they communicate with their customers and repackage product and service offerings for the new landscape – one defined by digital transformation. This evolution is reflected in…
Today, many employees who are leaving their jobs are venturing into entrepreneurship. According to the National Bureau of Economic Research, the number of applications for new businesses is higher than ever. Felena Hanson, founder and CEO of coworking space Hera Hub, has seen a 50 percent increase in the number of first-time entrepreneurs using her…
With another year behind us, it’s time to look ahead to the “top x trends” and “must-have platforms” for the coming year. But let’s separate the money-making trends from the ones that get recycled and reworded. These are the seven strategies, tools, methods, and approaches that online service providers must keep in mind if they…
Cameroonians’ new year celebrations have so far coincided with opposition to the Paul Biya administration’s new tax on mobile money transactions. A 0.2 percent tax on money transfers and withdrawals via mobile wallets went into effect on January 1, 2022, as required by the newly enacted 2022 Finance Bill, which President Biya signed last November….
Sprint, an Egyptian e-commerce logistics startup, has processed one million shipments since its inception in 2019. Sprint offers technology-enabled solutions that enable e-commerce merchants and retailers to benefit from high-value, end-to-end logistics services and solutions. Sprint has processed one million shipments with a success rate of more than 90% over the last two years. More…
How novel approaches to angel investing are bridging Africa’s massive early-stage funding gap for high-growth ventures. Angel investment in African startups has recently increased rapidly, in tandem with the development of startup ecosystems, which has greatly increased the number of investable opportunities. Early indications of success, such as the emergence of several successful fintech startups,…
Volaris Group Inc. (Volaris) has acquired Adapt IT Holdings Limited (“Adapt IT”) for R7 per Adapt IT share, effective 3 January 2022. Volaris is a wholly owned subsidiary of Constellation Software Inc., a publicly traded company in Canada. All conditions and regulatory approvals, including those from various competition authorities, the Takeover Regulation Panel, and the…
Africa, with over 700 banks, is one of the world’s most promising untapped banking markets. As incomes rise, the African continent will become a more appealing market for various banking services such as loans, investments, and savings. Consumers, on the other hand, have new preferences and expectations from the banking system, which is changing the…
Tesla’s goal of bringing electric vehicles into the mainstream is gaining traction, as evidenced by the company’s consistent growth in deliveries. As the EV manufacturer ramps up production, the number of delivered vehicles is expected to reach all-time highs in 2022. According to Finbold data, Tesla’s 2021 deliveries totaled 936,172, an increase of 87.4 percent…
Digital Realty, an American real estate investment trust, has agreed to buy a majority stake in Teraco Data Environments, a South African data center and interconnection solutions provider. Teraco released a statement on the subject. Following the transaction, which is expected to close in the first half of 2022, Digital Realty will own approximately 55…
Apple made history on Monday when it became the first company to have a market value of $3 trillion. During Monday’s intraday trading, Apple briefly reached a market value of $3 trillion before resuming its decline. When the company’s stock price reached $182.86, it was the first to do so. Apple has a $2.99 trillion…
Koko Networks, a Kenya-based bio-fuel technology company, has expanded its business to include other fast-moving consumer goods via a new technology platform that will leverage its established distribution networks in low-income neighborhoods. Koko Club, the company’s new business line, sells the products directly to consumers through the dukas (small shops) that currently serve as agents…
The late 2000s and early 2010s saw the birth of Africa’s e-commerce boom. With the continent’s rapid internet penetration and the launch of payment platforms, there were numerous opportunities for innovation in inter and intra-national logistics that would help complete the triangle. Heroshe is one of the companies in Nigeria that achieves this goal. Heroshe…
Every startup founder or CEO was once a novice when it came to navigating the murky waters of institutional investment. They may have even gotten burned because they didn’t know what questions to ask or what to look for. As a result, we launched the Ask an Investor series to learn more about why and…
If you have a hybrid work model, you can work from home for part of the week and the rest of the week. Because of the need for personal autonomy, adaptability, and open interaction, hybrid work models are an excellent choice for businesses attempting to adapt to a post-pandemic era. The ability to work from…
“I’ve always loved and wanted to wear African prints more here,” says Bami Adenike, who lives near alluring luxury boutiques in Paris but has a lasting fondness for African wear. Adenike, a 28-year-old Nigerian artist, moved to France in 2016 and has mostly purchased clothes from French fashion retail stores since then due to the…
Binance, a cryptocurrency exchange, announced an agreement with the Dubai World Trade Centre Authority to establish an international virtual asset ecosystem. Binance, the world’s largest cryptocurrency exchange by trading volume, stated in a statement that it intended to assist Dubai in developing virtual asset regulations. The Dubai World Trade Centre (DWTC) announced that it will…
Shopa, a Ghanaian retail digital startup, claims to be “redefining” the informal retail distribution and supply chain by connecting last-mile sellers with suppliers and enabling cash or credit access to stock. Shopa was founded in August 2020 in response to challenges faced by informal retailers in their restocking process and their inability to obtain credit….
Titan Trust Bank Limited (TTB), one of Nigeria’s fastest-growing and most customer-focused financial service providers, has purchased Union Bank of Nigeria Plc. Union Global Partners Limited, Atlas Mara Limited, and other majority shareholders agreed to sell their 88.39 percent stake in Union Bank to Titan Trust Bank. In a notification to the Nigerian Exchange Limited…