Author: Staff Writer

Fawry, Egypt’s preeminent provider of e-payment solutions, has announced its intention to evolve its online payment portal, myFawry, into a full-fledged digital bank by the year 2023. This pivotal move was revealed in a bourse statement recently, ushering in a new era of financial services in Egypt. The new digital…

Elon Musk is leading a significant alteration in the appearance of news links on his social media venture, X, formerly known as Twitter. This strategic maneuver has the potential to reshape the efficacy of news publishers in captivating their audience. Musk’s plan entails removing the headline and accompanying text, retaining…

A consortium led by Transcorp Group has acquired 60% stake in Abuja Electricity Distribution Company (AEDC). The decision, authorized by the National Council on Privatisation in May 2023, has positioned Transcorp Group as the fresh energy strategic investor in the Abuja Electricity Distribution Company In a related development, Christopher Ezeafulukwe,…

Stanbic IBTC Holdings Plc has revealed a significant change in its fintech subsidiary’s identity. The corporate modification, which has received regulatory approvals, sees the former Stanbic IBTC Financial Services Limited transformed into ZEST Payments Limited (ZEST). This strategic shift reflects Stanbic IBTC’s commitment to its evolving vision and enhanced service…

Nala, a fintech that empowers users to execute seamless cross-border payments from Europe, the UK, and the US to diverse destinations across Africa, announced that it has included Nigeria as one of its remittance destinations. The decision to launch payments to Nigeria is significant and strategic for NALA. With roots…

In the face of macroeconomic challenges that have affected the ability to raise capital and prompted venture-backed companies to recalibrate their operations, Kenyan B2B e-commerce platform Twiga is taking strategic steps to ensure its viability. The company has announced its intention to undergo another round of layoffs, affecting 33% of…

In a move to curb the proliferation of indecent content and propaganda, the Somali government has taken a decisive step by banning popular platforms TikTok, messaging app Telegram, and the online-betting website 1XBet. The announcement was made by the Communications Minister, Jama Hassan Khalif, who emphasized the need to counter…

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…