All about Business.
ADVA, an Egypt-based fintech, has raised an undisclosed “six-digit figure” Seed round from Sawari Ventures in order to extend its product offering and financial services breadth. ADVA is a consumer finance platform founded by Rania Gaafar in 2020 that allows clients to pay for a variety of services and products in installments. “ADVA is unusual…
Uber and other ride-hailing services are revolutionizing the way we get around. With only a few taps on a smartphone, you can be on your way in no time, satisfying the modern consumer’s desire for on-demand, accessible, and convenient services. According to recent research by Genesis Analytics and the Financial Sector Conduct Authority (FSCA), data…
MFS Africa has agreed to buy Global Technology Partners for $34 million in cash (GTP). GTP is Africa’s top prepaid card processor, with UBA, Ecobank, BIA, Stanbic, Coris, NSIA, and Zenith Bank among the over 80 banks that use their platform. GTP’s client base is spread over 34 countries, and the company is fully integrated…
Chari, a Moroccan B2B e-commerce and finance firm, said today that it has purchased a 100% share in Diago, an Ivorian app that connects local stores with FMCG makers and importers. AF Legal and RBB International firms, representing Chari, and Houda Law Firm, representing the Ivorian startup, handled the all-stock transaction. This transaction comes just…
Centum Investment Company Plc has agreed to sell its entire equity stake in Sidian Bank Limited (‘Sidian’) to Access Bank Plc for KES4.3 billion. Centum owns 83.4 percent of Sidian’s issued shares, both directly and indirectly through Bakki Holdco Limited, its wholly-owned subsidiary. Sidian is planned to be merged with Access Bank’s Kenyan unit in…
The Kenya Development Corporation (KDC) has teamed up with the Kenya Association of Manufacturers (KAM) to help the manufacturing sector’s small and medium-sized businesses recover. KDC revealed that it has initiated a plan to engage SMEs countrywide to sensitize them on KDC’s products and services in order to understand their financial needs during the engagement,…
Vantage Health Technologies and the Institute of Human Virology Nigeria (IHVN) have joined to build an AI-enabled Patient Retention Solution, which has resulted in a breakthrough and renewed hope for patient retention in the region. Sub-Saharan Africa is home to 25 million – or 67 percent – of all HIV-positive people, with 8.1 million of…
Appetito, an on-demand grocery retail company based in Cairo that delivers food to customers from a small network of dark stores, announced the acquisition of Lamma, a similar company based in Rabat and the Greater Tunis area of Morocco and Tunisia, on Tuesday. The purchase is slated to finalize in the third quarter of 2022,…
Maisha Meds, a Kenyan-based digital pharmacy network that offers pharmacies, drug stores, and clinics business management software and reimbursement programs, as well as patient support through its point-of-sale pharmacy app, has reached 1,000 active locations, making it one of the largest digital pharmacy networks in Sub-Saharan Africa. Maisha Meds, which has operations in Kenya, Uganda,…
Finclusion Group, a sub-Saharan African fintech platform, has received an undisclosed investment from the Cairo Angels Syndicate Fund (CASF). CASF’s fourth overall investment and third on the African continent will be made with this investment. CASF is a micro venture capital fund that invests $100,000–$250,000 in post-seed and pre-series A firms in the Middle East…
Grey, a Nigerian finance firm, has announced a partnership with Cellulant to expand its service to East Africa, starting with Kenya. Grey’s offerings, which include overseas bank accounts, rapid currency conversion, and international money transfers, are now available to Kenyans. In conjunction with Cellulant, Grey has expanded its services into East Africa, beginning with Kenya,…
Since entering the African market less than ten years ago, Uber, a worldwide ride-hailing services provider, has completed one billion journeys. On the continent, it has traveled over 10 billion kilometers. The organization is making significant progress on the African continent, including providing job opportunities as well as safer and more convenient transportation options. Uber…
As it continues to expand across Africa, Nigerian cryptocurrency exchange Yellow Card has added Ivory Coast to its list of 16 countries where it operates. Yellow Card, which was founded in 2018 and launched in Nigeria in 2019, allows anyone in Africa to buy cryptocurrencies such as Bitcoin, Ethereum, and USDT Stablecoin with cash, mobile…
Gebeya Inc., a Pan-African marketplace for freelance professional talent, has announced a new relationship with the Blacks In Technology (BIT) Foundation, a global community that provides training, networking, and mentorship services to Africans working in the technology area. By serving as a connecting channel for a global professional network and freelancing marketplace, our alliance will…
The latest development in Visa’s Practical Business Skills (PBS) initiative, which offers potential partners integration and co-branded opportunities to contribute to business transformation and empowerment, is their partnership with Trace Academia, a mobile-based learning application that aims to enable 26 million youth across Africa. The collaboration provides a free online learning platform with a variety…
A lot has changed since the dawn of technology around the world, especially with the arrival of the internet. The emergence of the internet a few years ago also saw the birth of digital lending. Borrowing money and getting loans have become easier thanks to new technology, and the previous technique of borrowing was not…
Autocheck, a Nigerian auto-tech firm, has purchased KIFAL Auto, a Moroccan competitor, to help it expand into the North African market. Autocheck’s goal is to create digital solutions that will improve and enable a seamless and secure automotive commerce experience throughout Africa. By developing a single platform for consumers’ automotive needs, from sourcing and financing…
Mastercard and fintech firm OPay have launched a strategic relationship that will bring digital commerce to millions of people across Africa and the Middle East, paving the way for greater financial inclusion and economic development. Thanks to a Mastercard virtual payment solution linked to the OPay eWallet, OPay users and merchants throughout the area –…
LinkedIn, an American job-search social networking site, has raised membership fees and tariffs for premium services by up to Sh 1,400 ($12.03) each account. According to Business Daily, Kenya implemented a 16 percent value-added tax (VAT) on digital transactions for international corporations through the Finance Act of 2019. “We’d like to give you a critical…
RapidDeploy, a South African emergency response platform, has raised equity capital from Nedbank CIB, the Nedbank Group’s corporate and investment banking division, one of the country’s four main banking companies. RapidDeploy is an open and integrated response technology founded by Steven Raucher and Brett Meyerowitz that transforms any size first responder communications center into a…
The ICT Authority (ICTA) and Kodris Africa, an online publishing company, have agreed to establish a coding curriculum in a few Kenyan schools. This comes after the Kenya Institute of Curriculum Development approved the country’s coding curriculum as a way to improve kids’ digital literacy. The Kenyan government has provided 1.2 million computers to students…
The Africa Finance Corporation (AFC) has established a US$2 billion facility to promote bank-driven economic recovery in Africa and the resilience of African economies in the face of global crises such as the COVID-19 pandemic and, more recently, the Russia-Ukraine conflict. The AFC will fund up to half of the facility and raise the balance…
Liquid Intelligent Technologies, a pan-African technology company, stated on Monday that it has signed a definitive agreement to buy Telrad, an Israeli technology firm. Networking, cybersecurity, cloud infrastructure, data centers, information technology, geoinformatics, and education are among the company’s cutting-edge technology solutions. “Telrad’s advanced patented technology in areas such as cyber security, data centers, and…
Elev8 education, a global leader in digital skilling and transformative education, has joined the Amazon Web Services (AWS) Training Partner program. Elev8 will deliver cloud computing skills training developed and maintained by AWS to enterprises and learners in Nigeria and Rwanda as part of this program. Many businesses have advanced their digital transformation plans this…
Liquid Home Zimbabwe is the new brand identity of ZOL, Zimbabwe’s premier Internet Service Provider. This redesign symbolizes the natural growth of the well-loved house brand and its much-awaited integration with the parent brand – Liquid Intelligent Technologies , a subsidiary of Cassava Technologies. As part of the rebrand, Liquid Home Zimbabwe will ensure that…
VeelPay, a new fintech platform, is expected to launch soon to enable rapid money transfers from anywhere to anywhere in the world using cutting-edge encryption technology. The platform, which has been in stealth mode for some time, aims to allow users to send and receive money, store funds, pay bills via credit card or M-Pesa,…
The Financial Times (FT) has published its first annual ranking of Africa’s fastest-growing companies. In the twenty-first century global economy, the list covers companies that are forward-thinking, cutting-edge, and fast expanding. According to the report, South Africa has the most companies in the ranking, with 24, followed by Nigeria (20) and Kenya (14). (9). These…
Khazna, an Egyptian financial super app that provides underprivileged people and microbusinesses with simple, technology-driven financial services, has announced that it has received final clearance from the Central Bank of Egypt (CBE) to launch its Khazna Card in conjunction with ADIB Egypt. Khazna was launched in 2020 as an earned wage access product, but it…
Lynk, a Nigerian home concierge services scheduling platform, has expanded to Kenya, with its entry aided by its acquisition of Lynk, a software business that connects unemployed people to job possibilities. Eden Life, a subscription service that delivers high-quality chef-cooked meals, laundry services, and home cleaning, was launched in Nigeria in 2019 with the goal…
The commitment of mPharma, a prominent African healthcare technology business, to offering affordable healthcare solutions in Africa has been reiterated. Mr. Gregory Rockson, mPharma’s CEO and Co-Founder, revealed this during the virtual introduction of the company’s impact report on Thursday, April 28, 2022. Mr. Rockson stated at the event that mPharma’s contribution to tackling the…