All about Business.
PayGate, a subsidiary of South Africa’s DPO Group, has announced the addition of Samsung Pay as an additional payment method for its merchants. The mobile payment solution enables secure and private mobile payments without the need to hand over cash or share payment card information for each new transaction. “Samsung Pay eliminates the need to…
Gumtree, a South African online listings network, has been acquired by Impresa Capital, a venture capital firm with offices in Durban, for an unknown sum, subject to regulatory approval. Gumtree, one of the most popular locally published websites in the nation, was founded in 2004 and currently has 4 million unique visitors and 71 million…
A cooperation between Lender Equity Bank Kenya and NALA Payments Limited has been declared. NALA is a platform for processing remittance payments that is authorized in the US and the UK to facilitate remittances from the diaspora into Kenya. According to a statement from Equity, the partnership would enable Kenyans living in the UK and…
In a first for the biggest economy in East Africa, Kenya, the global energy and services company Engie Energy Access and the Dutch social enterprise PreMal have teamed up to introduce a solar-powered mosquito capturing system. The ground-breaking outdoor mosquito trap, known as MTego, is intended to capture malaria vectors without the use of insecticides…
The Micro Small and Medium Enterprise (MSME) is estimated to be at over 40 million MSMEs in Nigeria and contributes over 50% to the Gross Domestic Product (GDP) with respect to job creation and national development. Despite the scale at which the Micro Small and Medium enterprises is contributing to the growth and development of the…
The largest mobile network operator in Africa, MTN, and South African telecoms company Telkom have begun discussions regarding Telkom being acquired by MTN. The acquisition structure, according to the release, will involve MTN acquiring the entire issued share capital of Telkom in exchange for shares, cash, or a mix of shares in MTN and cash….
A Nigerian business called Bloc, which offers full-service FinTech and banking as a service infrastructure, has acquired Getwallets, a wallets-as-a-service provider that has just changed its name to Orchestrate, a payments orchestration company. Bloc will be able to concentrate on its main product strategy of providing seamless BaaS & banking services thanks to the strategic…
Internet Technologies Angola (ITA), a supplier of telecommunications services in Angola, has changed its name to Paratus Angola, placing it under the parent firm Paratus Group’s larger network. The rebranding, according to a statement from the company, aims to align ITA’s brand identity with that of the larger Paratus Group in order to support its…
A South African venture capital firm called Futuregrowth has announced intentions to launch the Futuregrowth High Growth Development Equity Fund (HGDEF), which will concentrate on funding firms with a significant positive impact on development. Futuregrowth is a leading developmental investor and South Africa’s eighth-largest asset management organization with more than 50 fund products, more than…
For an unknown sum, South African data analytics, consulting, and software platform Principa is being purchased by Mauritius-based technology investment holding company Hyperclear from Apex Partners Holdings. In order to finance its acquisition plans, which are concentrated on businesses with Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of up to R250 million, Hyperclear recently…
To expand the reach of its auto-financing services in Francophone Africa, Nigeria-based auto-tech business Autochek has announced the acquisition of CoinAfrique, the top platform for classified ads in that continent. In order to improve and enable a seamless and secure automotive commerce experience throughout Africa, Autochek intends to develop digital solutions. By developing a single…
Visa, the global leader in digital payments, is collaborating with Flocash FT, a fintech platform, to promote digital capabilities for African SMEs via digital payments, supplier solutions, and access to financial services. Flocash, which began operations in Kenya in 2013, is a leading provider of payment technology and processing services to consumers, businesses, and financial…
Following a successful pilot phase, AFEX, Nigeria’s commodities exchange and commodities market platform, has announced its expansion into Kenya. AFEX Fair Trade Limited (AFTL) has launched a $1 million loan program as part of the expansion to provide farmers with access to seed and fertilizer for their crops, thereby mitigating rising commodity prices. Under the…
Xend Finance, a Nigerian startup, has reached 100,000 users and announced expansions into Ghana and Kenya. Xend Finance, which participated in the Google Launchpad Africa accelerator and the Binance Incubation Programme in 2019, has created a platform that allows anyone to save and invest in stable currencies. The Xend Finance platform also enables users to…
The first UK office of Kora, an African payment infrastructure that provides payment API for payment collections and disbursements as well as cross-border transfers, has opened. Through the West Midlands Growth Company, an organization in charge of driving regional investment promotion and economic growth for the West Midlands and the UK, Kora collaborated with the…
mPharma, an African healthcare technology company with three primary business groups (Wholesale, Retail, and Diagnostics) that offer creative solutions, has introduced a new customer-focused product called Facility Insights on Bloom, its unique data management and pharmacy transformation tool. With the help of this solution, pharmacy owners can solve operational issues and improve the quality of…
An East African market that is underserved by personal loan providers is where Zambia’s Unifi hopes to reinvent personal credit. Unifi, which advertises itself as “making life easier,” specializes in providing unsecured personal loans through branches and online throughout East Africa. Michiel le Roux, co-founder and group leader of Unifi, adds, “I think keeping it…
According to a press release from the firm, Liquid Cloud, a division of pan-African technology service provider Cassava Technologies, has chosen Telesmart.io, a leader in international number and messaging services, to supply its number inventory management solution. Liquid Cloud will employ Telesmart.io’s technology to minimize the burden of keeping number inventory and accelerate how they…
Ethiopia has been named the Microsoft Partner of the Year for 2022, as revealed on Wednesday by Cloudmania, an exclusive provider of cloud partner programs in Africa. In order to bring about digital disruption using the power of the cloud, the company has opened its doors to 16 nations on the African continent, including South…
SweepSouth, a new home cleaning company in South Africa, has announced its entry into Nigeria. SweepSouth is an online platform that was established in 2014 and offers home cleaning services on demand in a number of South African towns. The firm is actively expanding across the remainder of the continent after securing considerable funding, particularly…
A user-friendly and interactive App called Pocket has been unveiled by Mozilla in collaboration with the Aga Khan University with the goal of enhancing online user experience. The program, which was created for iOS and Android, enables users to browse their preferred written and visual content and even save it for later offline surfing. During…
Over the past three years, Stanbic Bank Kenya has had an impact on more than 45,000 female business owners by promoting financial inclusion and offering creative solutions that have allowed Dadas to access Kshs 6.9 billion in credit. The bank has also given grants totaling more than Ksh 40 million and credit guarantee schemes worth…
The money transfer app Kyanda, a Kenyan fintech firm that seeks to enable users to complete a variety of transactions at the lowest possible cost, has begun operating in South Africa. Collins Kathuli launched Kyanda in February 2020, giving consumers the option to pay bills, buy airtime, and send money quickly and cheaply. Since its…
The debut of StockNow, a new supply chain finance solution that connects FMCGs and financial service providers to serve Africa’s informal merchants at scale, was announced on Monday by Nomanini, a rapidly expanding fintech platform in the continent. Informal micro and small shops may now buy stock digitally thanks to StockNow, a simple-to-use app created…
In its joint venture with Scatec ASA, British International Investment, the UK’s development finance organization, is collaborating with Norfund, the Norwegian Investment Fund for Developing Countries, to raise money for Africa’s hydropower industry. With up to $200 million in funding pledged over the next years, this will be the greatest hydropower investment in BII’s 74-year…
The multinational technology company Zoho today introduced its Zoho Africa Digital Enabler package in Nigeria in order to assist small businesses in beginning their digital transformation. The business, which saw a 74 percent increase in business in Nigeria last year, also revealed plans to establish an office in Lagos and hire additional locals for positions…
The Central Bank of Egypt (CBE) has granted final approval to Egyptian fintech firm Lucky to introduce the “Lucky One” card to all of its clients. Lucky, a company founded in 2018 by Momtaz Moussa and Ayman Essawy, gives customers access to an expanding selection of simple-to-use credit products, savings, and cashback benefits that can…
For an undisclosed sum, Egypt-based fintech MNT-Halan purchased Talabeyah, a B2B e-commerce site that sells FMCG goods. By utilizing technology, a cutting-edge supply chain model, and the founders’ considerable experience in the FMCG industry, Karim Nassef, Amr Abbas, and Khaled Hussein created Talabeyah in 2020 with the goal of disrupting and digitizing the unorganized FMCG…
Lagos has welcomed the launch of Clickafix, a marketplace for hiring professionals. The tech-driven platform aims to close the gap between qualified experts and people who need services but are unsure of where to find the best service providers to handle repairs in their homes and workplaces. Nigerians living in the commercial hub of Lagos…
In an effort to provide more African businesses with funding prospects, the Nigerian investtech startup GetEquity has expanded to Kenya. GetEquity, a fundraising and venture portfolio management firm founded in 2020 by Jude Dike and William Okafor, intends to remove friction between founders and the financing they require by providing them with access to a…