All about Business.
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…
Coca-Cola scored a sort of coup in 2010 when they managed massive resource cost savings by using business intelligence for their sales data. The brand was having difficulty integrating data from 74 different bottlers’ databases, which were all different in terms of capabilities and analytical tools and were spread across the country. The company required…
The year 2021 has been an eventful one for businesses all over the world. From major technological advancements to widespread supply chain challenges, the last 12 months have kept business owners and marketers on their toes. And, with no end in sight to the excitement, it’s more important than ever to keep an eye on…
COVID-19 has accelerated the adoption of digital payment platforms by millions of people across Africa. The need for contactless transaction methods transformed what was once a nice-to-have into a requirement. Indeed, while the pandemic has increased the adoption of digital payments across industries, demographics, and payment types on the continent, Africa has been at the…
After experiencing rapid growth, Nigerian startup Get It Done Now, a mobile fintech e-commerce platform where users can access services, loans, and insurance, is expanding to Spain. Get It Done Now, founded in mid-2018 by Alberto Rodriguez and Bode Bamgboye after they met while studying for an MBA at the IE Business School in Madrid,…
Collaboration between IT and business is critical for business innovation in the future. The financial benefits, on the other hand, are well worth it. The Collaborative IT-Business Model is an open innovation architecture that aims to create a collaborative network of diverse stakeholders to generate new ideas. IT and business must collaborate to break down…
Pipit Global, an international cash payments platform, and Cellulant, a pan-African payments company, have expanded their partnership agreement to include eighteen Sub-Saharan African countries. The companies will provide both B2B and B2C payments services to existing and emerging financial institutions, eCommerce merchants, billers and billing platforms, mobile money providers and eWallets, digital financial service providers,…
Drugstoc is a health-tech startup that offers hospitals and pharmacies a procurement platform for all medications, consumables, and small medical equipment. Chibuzor Opara and Adham Yehia founded the startup in 2017 with the goal of closing the supply chain gap in Nigeria’s medical sector. In November, the company raised $4.4 million in a Series A…
Life is returning to normal as Covid-19 vaccinations become more widespread around the world. However, this is not the world we knew before the pandemic. Because of the long-term nature of this global crisis, customer needs and daily lifestyles have changed. This, in turn, will alter my expectations for the world in 2022 and beyond….
It is difficult to comprehend the impact of technology on businesses and society as a whole. This year’s annual Thoughtworks Looking Glass report attempts to put a wide range of technologies into context so that business leaders can see where technology is leading them. The report examines the impact of 100 current and emerging technologies…
54gene, a Nigerian health technology company advancing African genomics research for improved global health outcomes, has announced the launch of 7RiverLabs, its diagnostic arm. 54gene, founded in 2019, is a research, services, and development company that uses human genetic data from diverse African populations to improve the development, availability, and efficacy of medical products that…
Sympl, Egypt’s first ‘Save Your Money Pay Later’ service, has announced a partnership with El Nada Hospital, Egypt’s leading maternity hospital. Through the Sympl checkout platform, the partnership provides patients with interest-free deferred payment plans. The collaboration will provide El Nada Hospital patients with more payment options and improve their checkout experience by enabling better…
Trueflutter, a dating and matchmaking app for people from emerging markets, is a Nigerian startup that is focusing on the local market and making over 1,000 matches per day. Trueflutter, which was founded in 2018, assists people looking for committed relationships in finding compatible partners who share similar values and backgrounds. “We observed the cultural…
Moove, an African mobility fintech, has opened its first office in East Africa and its sixth on the continent in Nairobi, Kenya, as part of its efforts to expand operations across the continent. This move came after a collaboration with Uber that allowed ride-hailing and delivery drivers to acquire motorbikes for Uber Connect, UberEats deliveries,…
The fourth quarter is drawing to a close, the holiday season has arrived, and Kenyan businesses are closing their books for the year. Transport and logistics, which support many sectors of the Kenyan economy, appear to be on the rise in many ways. The Kenya Ports Authority (KPA) reported a 4.4 percent increase in container…
While some people believe that gold, jewelry, art, wine, or antiques are good long-term investments, a new study challenges that notion and presents a unique and more profitable alternative: Lego sets. Economists from Russia’s Higher School of Economics discovered that the market prices of retired Lego sets sold on the secondary market increase by at…
Wabi, an electronic commerce ecosystem, has launched Wabi2b in Nigeria to digitize traditional trade channels and empower women. Wabi2b, the company’s B2B arm, is a marketplace that allows all FMCG wholesalers and distributors to sell their products directly to retailers and traditional stores. According to a McKinsey report titled “Africa’s Growing Giant: Nigeria’s New Retail…
E-commerce in Africa is rapidly expanding, and its potential remains enormous as more people gain access to the internet. According to the 2021 GSMA mobile economy report, 303 million people, or about 28 percent of the population, are connected to the mobile internet in Sub-Saharan Africa, and this figure is expected to rise to 40…
Despite the continent’s technologically savvy population, financial exclusion remains a problem. However, the challenge of regulatory influence and industry acclimatisation came with the launch of fintech startups. In 2018, a financial expert and tech investor thought it was difficult for fintech startups to integrate with banks — a necessary partnership for the former to successfully…
Alphabet’s Google announced on Wednesday that it will give an additional bonus to its employees worldwide this year, postponing its return-to-office plan. A company spokesperson told Reuters that Google will give all employees, including the company’s extended workforce and interns, a one-time cash bonus of $1,600 or equivalent value in their country this month. The…