All about Business.
According to Cellulant, the growth seen in Kenya is reflective of the payments landscape in the rest of Africa, with a noticeable shift in consumer behavior. As more consumers prefer digital platforms as their primary payment method, digital payments have evolved from a nice-to-have for businesses to a requirement. According to Faith Nkatha, Cellulant’s Kenyan…
Black Friday sales are a fantastic experience for both shoppers and retailers. Shoppers receive massive discounts on products, while retailers smile from ear to ear as a result of massive sales. According to an online poll, the average customer is prepared to spend N62,250 during this year’s Black Friday sales. This is approximately 58 percent…
With the holiday season quickly approaching, South Africans and consumers worldwide may find fewer gift options on store shelves as a result of product shortages and delays caused by pandemic-related closures of ports and factories. According to a new global Oracle retail consumer research study, more shoppers are concerned that supply chain and delivery delays…
Mobile FinTech Tingo has announced its collaboration with the decentralized cloud computing network Cudos to tackle the poverty premium through mobile monetization applications which will lead to the empowerment of over 9 million Nigerians, enabling them to earn an income from their smartphones. The significance of this collaboration extends to the whole industry as Cudos…
Cellulant, a leading Pan-African payments firm, has teamed with Lake Harvest, one of Zambia’s leading fish distributors, to enable mobile payments using the Tingg one-stop digital payment platform in all of their shops. Lake Harvest has prioritized taking all types of mobile money to provide their consumers with a seamless payment experience as consumer shopping…
The United Nations Development Program (UNDP) Accelerator Labs and AfriLabs announced their partnership and the way forward with live and virtual events hosted by AfriLabs as part of Unified Outreach 2021. Year on October 29, 2021. AfriLabs Executive Director Anna Ekeledo and UNDP Nigeria Accelerator Lab Focal Point Senior Advisor William Tsuma attend a private…
Tyro, an Egyptian startup educational technology platform that connects students with qualified instructors through individual and group sessions, is acquiring Nafham, a social startup that offers free, crowd-sourced educational content, under a share swap agreement. Tyro is an online tutoring platform that connects students with the best professional instructors, and currently operates in Egypt, the…
Nokia said on Wednesday that it plans to launch a cloud-based software subscription service aimed at telecommunications companies to provide analytics, security and data management software. Many tech companies have been moving toward a subscription model from licensing in advance to building a predictable, recurring business. While part of Nokias’ software portfolio will be offered…
Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces that its subsidiary Airtel Mobile Commerce Nigeria has been granted approval in principle by the Central Bank of Nigeria to operate as a super agent in Nigeria. The super agent licence is distinct from the Payment…
The emergence of ecommerce in Africa has seen online shoppers take advantage of the convenience it offers, as goods can now be delivered directly to their doorsteps while they also have the flexibility of selecting the payment channel either using their debit cards or payment upon delivery option. However, as ecommerce continues to evolve and shape how business is…
Innovectives, a transaction solutions company focused on making wealth possible through innovation, has launched a five-year mandate to empower 1 Million SMEs across frontier markets. Innovectives is a member of US-based Index Group, with over 8 years operating experience in digital financial services covering key markets in Africa and Europe. According Emmanuel Agha, the group…
Nigerian tech start-up TeamApt is in the market raising its third round of funding at a value of more than US$1-billion (R15.2-billion), which will result in the banking software firm joining a spate of Africa-tech companies to become so-called unicorns. The Lagos-based company is targeting to raise about $150-million, said founder and CEO Tosin Eniolorunda in…
Nigeria Computer Society (NCS) has disclosed plans to launch N50 million Innovation Development Fund (IDF), TechEconomy.ng can authoritatively report. The NCS will launch the fund – a startup grant – tagged ‘Innovation Development Fund’ at this year’s National Information Technology Merit Awards (NITMA) conference and awards, TechEconomy.ng gathered. Nigeria Computer Society (NCS) as the umbrella…
VC4A is launching another round of the Mentor-Driven Capital (MDC) programs for 2022 in January in Egypt and Somaliland, with MDC in Nigeria kicking off Spring 2022. MDC is supported by the Work in Progress program, funded by the Dutch Ministry of Foreign Affairs, with Oxfam being the lead program implementer. Mentorship is a critical factor…
Global losses from payment fraud have tripled from $9.84 billion in 2011 to $32.39 billion in 2020, according to Deutsche Bank’s 2021 report on the future of payments. And financial professionals are saying COVID-19 hasn’t helped matters, with 65% believing that the global pandemic is to blame for some of the accelerated rate in fraud…
In today’s data-driven world, the capacity to handle and interpret intricate data relationships is more critical than before. Gamaliel Okotie, a senior data scientist with a deep focus on advanced machine learning, has been at the forefront of pioneering methods for complex data representation leveraging Graph Neural Networks. His work in this evolving domain is…
Toshiba’s board has approved a plan to split the storied Japanese conglomerate into three companies, it announced Friday, following tension with shareholders and a controversial takeover offer. The announcement confirms reports earlier in the week that said management was under pressure from shareholders to maximise the firm’s value by dividing its businesses. The proposal aims…
United Nations Children’s Fund (UNICEF) and African e-commerce platform Jumia, announced today a partnership in support of Giga’s work to connect every school to the Internet and every young person to information, opportunity, and choice. Jumia’s data science capacity will offer Giga insights into the economic benefits of increased connectivity, helping to make the case for…
Launched in 2019 by Cregital, a Lagos-based creative design agency, Disha Pages gave users the tools with which to build their own one-page websites from the comfort of their smartphones, without worrying about technicalities such as coding or sorting out a domain name. Credit: Disha (Medium) The product was an instant hit and got considerable adoption among creators…
Tesla CEO Elon Musk offloaded a combined $6.9 billion worth of shares in the electric car company this week, taking advantage of a meteoric rally that vaulted the firm’s value to over $1 trillion. The billionaire sold 1.2 million shares held by his trust for more than $1.2 billion on Friday, the latest in a…
BlackHouse Media (BHM) has congratulated Nigerian media and tech executive Alex Okosi after he was named as one of Britain’s 100 most influential black people in the Powerlist 2022. Now Managing Director, Emerging Markets, YouTube (EMEA), Alex Okosi formerly helmed Viacom’s African operations, including music channel MTV Base. The Powerlist is an annual event that recognises…
I-invest, a mobile application, has provided a secure and safe platform for millions of Nigerians at home and in the Diaspora, to invest in and secure their future. The application that was developed by the Parthian Partners, and regulated by the Securities and Exchange Commission (SEC) and FMDQ, allows retail investors to conveniently buy and…
Moove, an African mobility fintech, has signed an exclusive partnership with Lori Systems, the leading e-logistics company in Africa. The partnership marks Moove’s first foray into the logistics industry, building on rapid growth over the last 15 months in car financing, as it leverages its revenue-based financing model to bridge the financing gap across one of…
International clean-tech startup incubator The Hatchery has launched its new Africa office in Cape Town, South Africa, aiming to discover and support cutting-edge entrepreneurs in areas such as smart utility metering, solar energy, and mobile financial platforms. Also based out of Oslo and Detroit, The Hatchery is an international clean-tech incubator that is invested in technologies that…
For most startup founders looking to raise money, the obvious choice is equity financing. However, there is another option – debt financing. Equity financing requires that founders give away shares in their business in exchange for capital. Debt financing allows founders to raise money by selling debt instruments to individuals or investors, and this money…
Elon Musk has sold about $5 billion worth of Tesla stock, according to a slew of regulatory filings that posted late Wednesday. Initial filings showed Musk had sold 934,091 shares for about $1.1 billion out of more than 2.1 million options he received as part of a compensation package. Musk disclosed in a regulatory filing that he…
Nigeria-based health tech startup Helium Health has acquired Meddy, a Qatar-headquartered and UAE-based doctor booking platform for an undisclosed amount. The acquisition, termed “a great deal” by Helium Health CEO Adegoke Olubusi on a call, is unusual in the sense that it overlaps two regions that rarely do in tech: Africa and the Gulf Cooperation Council (GCC). Meddy CEO Haris Aghadi and COO Abed…
Facebook announced today that it will no longer allow advertisers to target users based on potentially “sensitive” topics like health, sexual orientation, or religious and political beliefs. “Lung cancer awareness,” “LGBT culture” and “Jewish holidays” are just some of the interest categories that will no longer be targeted starting early next year. “The decision to…
DP World, a trade enabler, has announced the launch of DUBUY.com, a global wholesale e-commerce platform, in the Kenyan market. This latest expansion of DUBUY.com follows the successful launch of the platform in Rwanda earlier this year, where it has quickly established itself as a significant trading hub for the region’s East Africa region. DUBUY.com…
IFC has partnered with Liquid Intelligent Technologies to expand data center capacity and the rollout of fiber-optic cable on the continent. The partnership with Liquid Intelligent Technologies, Africa’s leading independent fiber and digital services provider, aims to increase digital connectivity and inclusion in Africa and to support the region’s growing digital ecosystem. IFC’s equity and debt investments in Liquid Intelligent…