Author: Staff Writer

The global expanse of the Tunisian diaspora is remarkable. With nearly 2 million Tunisians residing abroad, their influence on the Tunisian economy is palpable. By the close of 2023, remittances from this group are projected to skyrocket to an impressive 10 billion dinars. Amidst this backdrop, 216 Capital, in its…

Egyptian healthtech startup, Almouneer, a frontrunner in the digital transformation of healthcare in the Middle East and Africa (MEA), has proudly announced a seed funding round amassing US$3.6 million. Leading the fundraising was Dubai’s Global Ventures, with noteworthy investors Proparco, Digital Africa through the Bridge Fund, Wrightwood Investments representing Diane…

Last year, Elon Musk purchased Twitter for $44 billion, and now, renamed as “X”, its value has decreased by 55% to $19 billion. This new valuation was confirmed when, on Monday this week, employees at X were awarded equity in the company at a valuation of $19 billion, or $45…

MTN Nigeria Communications Plc faced a significant decline in its profit margins for the third quarter of 2023. Despite a commendable revenue generation, the company’s profit before tax witnessed a severe dip of 75.7% year-on-year. This was due to the removal of the fuel subsidy, currency devaluation from forex liberalisation,…

Airtel Africa plc has unveiled its performance report for the half-year ended 30th September 2023, showcasing resilience and remarkable growth in its operations across all regions. The telecom giant managed to weather the storm of foreign exchange challenges, particularly in Nigeria, maintaining its commitment to value enhancement and sustained growth.…

StarNews Mobile, an African-centric mobile video network, has successfully secured a $3 million pre-Series A funding. Established as a platform for African content creators, StarNews provides a unique opportunity for monetization through its subscription model. The platform currently caters to six African nations, including its birthplace Cameroon, as well as…

In response to changing European regulations, Facebook and Instagram are set to roll out a new subscription service for users in the EU, EEA, and Switzerland. Starting in November, users from these regions will have the option to either continue using the platforms for free, supported by ads, or pay…

As the automotive landscape shifts towards sustainability, leading car manufacturers worldwide are revisiting their strategies around electric vehicles (EVs) due to unforeseen challenges in consumer demand. Recently, Ford disclosed its decision to delay $12 billion of investments aimed at enhancing its EV manufacturing capabilities. This setback includes halting the construction…

Elon Musk, the billionaire owner of X, formerly known as Twitter, has ambitious plans for X, aiming to make it the epicenter of all monetary matters in our lives. During a recent all-hands meeting with X employees, Musk unveiled his vision for the platform, emphasizing its potential to redefine how…

In a significant shift, Kenyan B2B e-commerce firm MarketForce has halted its operations in three of its five African markets. The company, however, remains poised for the introduction of a new social commerce venture. MarketForce’s flagship application, RejaReja, primarily designed for informal retailers, will no longer cater to Kenya, Nigeria,…

X, formerly known as Twitter, has launched two new subscriptions in an attempt to boost its revenue. These two new subscriptions are in addition to the current $8/month subscription service. One of the new subscription services, called Premium+, costs $16 per month and it offers no ads in For You…

Have you ever found yourself in the juggling act of managing two separate aspects of life, work, and personal, and wished there was a smoother way to handle communications for both? If so, WhatsApp has some good news for you! Gone are the days where having two different WhatsApp accounts…

Businesses are constantly on the lookout for ways to streamline operations, cut costs, and boost efficiency. This search often leads to a myriad of strategies and tools, some more impactful than others. One such strategy is seeking a CNC (Currently Not Collectible) status with the IRS. But what exactly does…

Ever stumbled upon an image online or received one from a friend and felt something was off about it? Wondered if it’s been tampered with, taken out of context, or questioned its origins? Getting the complete picture is crucial when determining the credibility of information or images. A 2022 Poynter…

OpenAI is currently in discussions about a deal that could place its valuation at a staggering $80 billion or even higher. This prospective valuation signifies an impressive surge, nearly tripling its worth in less than half a year. A potential tender offer, spearheaded by the venture entity Thrive Capital, might…

The Lagos State Tax Appeal Tribunal has directed MTN Nigeria Communications to settle a tax default of $72,551,059 to the Federal Inland Revenue Services (FIRS). This decision spans tax liabilities from the years 2007 to 2017. However, the Tribunal excused the telecom giant from settling a further $21,039,807, which was…

Sukhiba Connect, a social commerce platform operating in Kenya, is set to expand beyond Kenya after raising $1.5 million in a funding round led by CRE investment, with the participation of Antler, EQ2 ventures, Goodwater Capital, Chandaria Capital and a number of angel investors. Founded in 2021 by Ananth Gudipati (CEO)…

Husk Power, a net-zero energy company serving rural Asia and Africa, announced that it has raised $103 million in equity ($43 million) and debt ($60 million) to grow its fleet of solar minigrids. In fact, it raised $43 million in Series D funding and used the Series D equity to…

In a defining move that reshapes the landscape of mobile financial services, Safaricom PLC has proudly declared its full acquisition of M-PESA Holdings Co. Limited. The deal, culminating in Safaricom’s purchase of the entirety of M-PESA Holdings from Vodacom International Holdings BV, has solidified Safaricom’s position at the helm of…

In a move set to revolutionize how the younger generation interacts with technology, Safaricom has unveiled its newest platform: Safaricom Hook. This innovative platform is strategically designed to cater to the diverse needs of the Gen Z demographic, offering them a trifecta of hooks: technology, career, and culture. Safaricom, a…