Author: Staff Writer

The Central Bank of Nigeria has issued changes to the operational guidelines to Bureau De Change Operators in the country. In the announcement made by the apex bank via a circular, the new changes were issued to improve the efficiency of the Nigerian Foreign Exchange market. Changes include the following:…

In a strategic move to diversify its manufacturing operations away from China, Apple’s key supplier, Foxconn, has commenced production of the highly anticipated iPhone 15 at its Sriperumbudur plant in India. In 2019, it has said that it had the capacity to build enough iPhones outside of China to satisfy…

On Friday, crypto marketplace Patricia announced the launch of its new retail app – Patrica Plus – and the interesting news that all current outstanding BTC and Naira balances have been converted to its native token – Patricia token. The firm claims that the Patricia token is a stablecoin pegged to…

Dr. ‘Bosun Tijani has been named as the new Minister of Communications, Innovation and Digital Economy in the President Bola Tinubu-led administration. The ministerial list was released on Wednesday. The CcHub founder and CEO was nominated as a ministerial nominee some days ago and he successfully scaled through a gruelling…

PayPal, a major player in the payments industry, announced that it will halt the option for UK customers to purchase cryptocurrencies through its platform starting from October this year. This move is in response to the implementation of new regulations aimed at controlling crypto promotions within the UK market. The…

Olumide Balogun, former Google’s head of Consumer Apps for Sub-Saharan Africa, has now assumed the role of Google Director, West Africa. Remember the position was made vacant when Juliet Ehimuan resigned from the role in July 2023 after 12 years. Olumide Balogun joined Google in 2019 from HMD Global where…

In a major stride towards enhancing digital literacy and fostering economic growth, Google has unveiled an ambitious plan to train 20,000 Nigerian women and youth in digital skills. Alongside this initiative, the tech giant has committed a substantial grant of 1.2 billion naira ($1.6 million) to aid the Nigerian government’s…

YouTube Music is rolling out a new feature called “Samples” which is a new personalized music discovery feature in that shows viewers samples of new music. Showing as a new Tab in the YouTube Music app, it opens you up to a seamless feed of short form video segments to…

Founders Factory Africa, an African early-stage investor supporting founders in the continent, announced that it has secured $114 million to scale its model to better serve founders across the African tech ecosystem. This strategic boost, supported by the Mastercard Foundation and Johnson & Johnson Impact Ventures, underscores Founders Factory Africa’s…

In a monumental step towards bringing affordable solar-powered solutions to low-income households, d.light, a global provider of transformative household products, has announced the successful securing of a $30 million securitization facility from the Eastern and Southern African Trade and Development Bank Group (TDB Group). This financial boost comes with the…

MTN Group CEO Ralph Mupita announced that the company has agreed to sell a minority stake of its $5.2 billion Fintech business to Mastercard to support the acceleration and growth of its fintech business’s payments and remittance services. The announcement sent MTN shares 7 per cent higher by lunchtime on…

The path to food sovereignty and security in sub-Saharan Africa, particularly Nigeria, is being paved with innovation and determination. Bühler, a leading provider of food processing technology, is taking a pivotal step towards reshaping the region’s food landscape with the establishment of its Grain Processing and Innovation Center (GPIC) in…

Grinta, the pioneering e-commerce platform tailored to empower independent pharmacists across Africa and the Middle East, has announced the acquisition of Auto-Cure, marking its third strategic acquisition. This acquisition, sealed by Mohamed Azab, Co-founder and CEO at Grinta, and Mohamed Rezk, Co-founder of Auto-Cure, propels Grinta’s mission of revolutionizing the…

The Middle East’s leading seed and early-stage venture capital firm, Flat6Labs, has taken a groundbreaking step towards shaping the future of the construction technology (ConTech) industry with the launch of their “Makers” ConTech Accelerator Program. In partnership with SIAC and Dar Al-Handasah (Shair and Partners), this innovative initiative is set…

Moove, the pioneering global mobility fintech, has secured $76 million in a new funding round which includes $28 million in equity from both new and existing investors, led by Mubadala Investment Company, $10 million in venture debt from BlackRock-managed funds, and $38 million in previously undisclosed funds raised in the…

On August 9th, 1956, a significant event unfolded as more than 20,000 women from various racial backgrounds marched to Pretoria’s Union Buildings in South Africa. Their purpose was to protest against the legislation that mandated African women to carry passbooks. This act of courage kindled a flame that would spread…

Since 2016, Android users have enjoyed the convenience of using Facebook/Meta’s Messenger as an SMS app. However, this integration is slated to be discontinued in September. Those who rely on Facebook Messenger for SMS and MMS instead of Google or Samsung Messages are now receiving notifications about this forthcoming change.…

In a recent development, Elon Musk’s X, previously known as Twitter, has incurred a fine of $350,000 due to a failure to meet a crucial compliance deadline pertaining to a confidential search warrant involving former US President Donald Trump’s account. This incident is part of a wider investigation led by…

Airtel Africa and Mastercard have unveiled an innovative cross-border remittance service that will reshape the way individuals across 14 African markets send and receive money. This strategic partnership aims to empower Airtel subscribers with a seamless, secure, and swift remittance experience, strengthening financial connectivity and contributing to Africa’s economic growth.…

Sendy is shutting down its operations and is in advanced discussions about an acquisition. According to Meshack Alloys, Sendy co-founder in a confirmation to TechCrunch, “We are in the middle of an acquisition process. So yes, Sendy is being acquired. We will issue a formal joint statement in two weeks…