Author: Staff Writer

In a significant development on Wednesday, Apple reclaimed its position as the world’s most valuable company, surpassing Microsoft. This resurgence is fueled by the iPhone maker’s ambitious advancements in artificial intelligence technology, marking a pivotal moment in the tech industry. Apple’s shares soared nearly 4% to reach a record $215.04,…

In a landmark deal poised to reshape Nigeria’s consumer goods landscape, Tolaram, a leading player in Africa’s consumer packaged goods sector, has acquired Diageo’s 58.02% shareholding in Guinness Nigeria Plc for ₦81.60 per share—a 63% premium to the 30-day volume-weighted average price (VWAP). The transaction, signed on June 11, 2024,…

On Monday, Apple announced a couple of new features across its apps and operating platforms and a partnership with OpenAI to bring the ChatGPT technology to its devices. And it seems Elon Musk is not happy about it. According to him on a post on X.com, “That is an unacceptable…

In a strategic move to increase its footprint in Tanzania, Access Bank Plc. has successfully acquired a majority equity stake in African Banking Corporation of Tanzania (ABCT) Limited, previously owned by Atlas Mara Limited. With the completion of this transaction, ABCT will merge with the consumer, private, and business banking…

Cairo-based startup Sahl announced that it has secured $6 million in Series A and seed funding to advance its mission of becoming a one-stop shop for household bills in collaboration with government entities. The funding round was led by Ayady for Investment and Development, a prominent Egyptian investment firm known…

At Conversations, Meta’s annual business messaging event in Sao Paulo, Brazil, it unveiled the latest WhatsApp product updates for businesses, including AI tools, Meta Verified, and expanded calling support, as part of its ongoing investment in new capabilities to help people and businesses connect and conduct business on WhatsApp. AI…

Elevate, a fintech company with bases in London and Dubai, announced that it has successfully raised $5 million in a pre-Series A funding round. Founded in 2021 by Faris Keenan, Khalid Keenan, and Youcef Oudjidane, Elevate provides financial solutions for remote workers and freelancers in emerging markets, helping them manage…

Nvidia hit $3 trillion market cap on Wednesday after shares rose over 5% to close at $1,224 per share, thereby having a market value of $3.019 trillion. It passed Apple which stood at $2.99 trillion to become the second-most valuable public company, behind Microsoft. Microsoft is the most valuable publicly…

BioNTech SE and the Coalition for Epidemic Preparedness Innovations (CEPI) have announced an expansion of their strategic partnership aimed at creating a sustainable and resilient vaccine ecosystem in Africa. This collaboration involves CEPI committing up to US $145 million to support BioNTech in establishing advanced mRNA vaccine research and manufacturing…

American YouTuber MrBeast, (real name Jimmy Donaldson) has now overtaken Bollywood music label T-Series to be the person with the most subscribers on YouTube. MrBeast made this announcement on his X page. For the past 6 years, the title belonged to T-series after it beat Felix Kjellberg, aka PewDiePie to…

The Central Bank of Nigeria (CBN) has lifted its ban on five fintech startups, which includes OPay, Kuda, Moniepoint, PalmPay, and Paga. Now, these fintechs can resume onboarding new customers and open new accounts. The ban was placed in April 2024 as part of efforts to combat fraud in the…

The Central Bank of Nigeria has revoked the banking License of Heritage Bank Plc. This is announced in a press release released today 3rd June 2024 by Mrs Hakama Sidi Ali, acting Director, Corporate Communications of the apex bank See the press release below: The Central Bank of Nigeria (CBN),…

In a significant milestone for the African agritech industry, Moroccan startup YoLa Fresh has announced a $7 million pre-Series A funding round. Led by Al Mada Ventures and backed by Algebra Ventures, E3 Capital, Janngo Capital, and FMO, this investment will propel YoLa Fresh’s mission to build a transparent and…

Donald Trump has just joined TikTok and amassed over 2 million followers with 4 hours. Ironically the former President and Republican presidential candidate, had tried to ban the social media platform based on national security grounds while in office. On Saturday night, Trump shared a launch video on his @realdonaldtrump…

In a strategic effort to broaden its global presence, the Adani Group (represented by Adani Ports and Special Economic Zone Ltd. joint venture) has reached an agreement with Hutchison Port Holdings Ltd. to acquire a 95% stake in a container terminal company at the Port of Dar es Salaam in…

In a significant move to boost economic growth and enhance climate resilience, the International Finance Corporation (IFC) has announced a partnership with FirstRand Bank Limited (FirstRand), South Africa’s second-largest bank by balance sheet. This collaboration aims to expand the availability of green building and green home loan finance across the…

Gro Intelligence, a once-promising agricultural data platform, is shutting down after a turbulent period marked by financial instability and legal challenges, according to AgFunderNews. Despite securing some last-minute funding in March and laying off a significant portion of its workforce, the New York- and Nairobi-based company could not sustain operations.…

Global payment giant PayPal has launched its stablecoin, PYUSD, on the Solana blockchain, aiming to increase its footprint in the stablecoin market. Previously, PYUSD was available exclusively on the Ethereum blockchain, marking Solana as its second blockchain integration. Why Solana? The Solana blockchain is renowned for its high-speed processing and…

Mastercard, in partnership with the African Development Bank Group, has unveiled a new initiative aimed at expanding digital access across Africa. The Mobilizing Access to the Digital Economy (MADE) Alliance: Africa is set to extend digital services to 100 million individuals and businesses over the next decade. This ambitious project…

American Express and Ecobank Group, a leading pan-African financial services provider, have announced a landmark agreement to significantly expand American Express Card acceptance across 21 African countries. New and Expanded Markets Under this agreement, American Express Card Members will be able to use their cards in twelve new countries: Burundi,…