Author: Staff Writer

Fawry, one of Egypt’s leading fintech companies, has announced a strategic investment of EGP 80 million ($1.6 million) in three prominent Egyptian technology companies: Dirac Systems, Virtual CFO (VCFO), and Code Zone. These investments, which grant Fawry majority equity stakes in each firm—51.0% in Dirac Systems, 56.6% in VCFO, and…

The Nigerian Postal Service (NIPOST) has long been a vital component of Nigeria’s communication and logistics infrastructure. However, in the face of rapid digital transformation and the rise of e-commerce, its relevance has diminished. While global postal services have successfully integrated e-commerce logistics, NIPOST has struggled to keep up due…

Gozem, an African super-app, has secured $30 million in Series B funding, comprising $15 million in equity and $15 million in debt. The round was led by SAS Shipping Agencies Services and Al Mada Ventures, with the funds set to scale its vehicle financing program and support expansion into new…

Google has introduced significant updates to its “Results About You” tool, streamlining the process for users to safeguard their personal details from appearing in Search results. Announced on Wednesday, these improvements aim to simplify the way individuals can monitor and remove sensitive information such as phone numbers, email addresses, and…

In contrast to its 2022 profit of ₦941 million, Unity Bank Plc reported a substantial loss of ₦62.6 billion for the fiscal year that ended on December 31, 2023. This decline highlights the numerous difficulties the bank encountered over that time, which led to a financial crisis that required calculated…

South Africa’s Competition Commission has recommended that Google pay between 300 million to 500 million rand ($27.29 million) annually to local media outlets, following provisional findings that the tech giant’s search algorithms disadvantage local news publishers. The proposed compensation, intended for a three-to-five-year period, aims to address the erosion of…

Meta has officially launched Meta AI across the Middle East and North Africa (MENA), introducing Arabic capabilities to one of the world’s most advanced AI assistants. With this rollout, millions of users in countries such as the UAE, Saudi Arabia, Egypt, Morocco, Iraq, Algeria, Jordan, Libya, Tunisia, and Yemen can…

KCB Bank Kenya has secured a $100 million Tier 2 capital facility from British International Investment (BII), the UK’s development finance institution and impact investor. The funding aims to increase KCB’s lending capacity, particularly for climate-related projects and women-led small and medium-sized enterprises (SMEs). The financing will bolster KCB Bank’s…

DeepSeek, a pioneering online services provider, has made a trailblazing announcement that is set to send ripples throughout the tech industry. In a bold move, the company has decided to open-source parts of its online services code, ushering in a new era of transparency, collaboration, and innovation. This strategic decision…

Flutterwave, a leading payment giant, has sought and received President Bola Ahmed Tinubu’s support for its upcoming listing on the Nigerian Exchange (NGX). The company’s leadership, during a meeting in Abuja, highlighted its impact on Nigeria’s digital economy and plans for local and global expansion. This was disclosed on Saturday…

Africa’s financial landscape is undergoing a profound transformation, driven by the increasing demand for efficient and affordable cross-border payment solutions. This surge is fueled by several factors, including a growing diaspora, expanding intra-African trade, and rapid technological advancements. Despite these positive developments, challenges such as high transaction costs, regulatory barriers,…

Global fintech innovator MANSA has announced the successful completion of its $10 million funding round, a milestone that accelerates its mission to address liquidity challenges faced by payment companies worldwide. By leveraging stablecoin-based solutions, MANSA offers both emerging and mature markets a more flexible, reliable approach to managing cross-border payment…

The highly anticipated Pi Network Mainnet launch is set for February 20th, marking a pivotal moment for one of the most talked-about digital currency projects. Since its inception, Pi Network has captured the imagination of millions with its promise of creating a mobile-first, accessible cryptocurrency ecosystem, and the Mainnet launch…

Recent reports from TechCrunch reveal that Kuda Technologies, one of Africa’s fastest-growing digital banks, is under scrutiny following allegations of workplace discrimination, harassment, and wrongful dismissal. The controversy centers on a complaint filed by former Group Chief People Officer, Rosemary Hewat, who claims that during her nearly three-year tenure at…

Johnvents Group, a leading Nigerian agribusiness and manufacturing conglomerate, has secured a $40.5 million investment from British International Investment (BII), the UK’s development finance institution and impact investor. This landmark partnership is set to propel Premium Cocoa Products Ile-Oluji, one of Johnvents Group’s key subsidiaries, to achieve its full production…

Egyptian B2B SaaS startup Qme has just raised $3 million in a seed funding round led by AHOY—a multisector technology company from the GCC—marking a significant milestone in the region’s digital transformation. As a forward-thinking, AI-driven platform, Qme is on a mission to tackle one of MENA’s persistent problems: inefficient…

Elon Musk’s artificial intelligence startup, xAI, is gearing up to shake up the AI landscape with the launch of its third-generation Grok 3 chatbot. Set to debut with a live demonstration on Monday at 8 p.m. Pacific Time (5:00a.m. Tuesday W.A.T), Grok 3 is being touted as the “Smartest AI on…

The Lagos State Government has announced that its work-from-home initiative for public servants will officially end on March 31, 2025. This decision, declared by Head of Service Mr. Bode Agoro in a recent NAN statement, aligns with the government’s rollout of an N85,000 minimum wage for civil servants—a measure aimed…

In a significant boost for environmental sustainability and job creation, the International Finance Corporation (IFC) has partnered with Ghana-based manufacturer Mohinani Group Limited to spearhead the recycling of Polyethylene Terephthalate (PET) from plastic waste in Ghana and Nigeria. This strategic alliance marks a pivotal moment in Africa’s journey towards a…

dLocal, a leading cross-border payment platform, and AZA Finance, a prominent fintech company specializing in payments and foreign exchange in Africa, have entered into a strategic partnership designed to expand both companies’ service offerings through mutual cross-selling. By integrating dLocal’s robust cross-border payment infrastructure with AZA Finance’s specialized foreign exchange…