Risevest, a prominent Nigerian wealth management platform, is reportedly planning to acquire Hisa, a Kenyan fintech startup that allows users to invest in US stocks. This strategic move is aimed at expanding Risevest’s operations into the Kenyan market, marking its second acquisition after purchasing Chaka, a digital trading startup, in…
Author: Smart Megwai
Smart Megwai
Smart is an experienced writer with an analytical edge. 10,000+ articles published since 2015, specialising in leadership, finance, and technology.
East Libya’s economy is facing severe disruption as counterfeit banknotes, reportedly originating from Russia, flood the market. The influx of these fake currencies has not only devalued the Libyan dinar but also amplified economic instability in a region already grappling with significant challenges. The Central Bank of Libya has raised…
Meta Platforms Inc., has announced the removal of 63,000 accounts linked to the infamous “Yahoo Boys” scam group. This crackdown, detailed in a Meta’s Q1 2024 Adversarial Threat Report titled “Combating Financial Sextortion Scams From Nigeria”, targets accounts involved in financial sextortion scams and the dissemination of blackmail scripts. Over…
Diamond Trust Bank (DTB), a leading financial institution in East Africa, has joined forces with Network International, the region’s largest enabler of digital commerce, in a strategic partnership aimed at accelerating digital payment transformation in Kenya. This collaboration marks a significant step towards enhancing DTB’s digital capabilities and expanding its…
Kenyan-based social enterprise One Acre Fund has received a $1.4 million investment to help smallholder farmers in East Africa. The funding is from Impact Bridge Asset Management, a Spanish fund manager focused on social impact investing, through its IB Impact Direct Debt fund, which totals $54.4 million (€50 million). This…
The Financial Sector Conduct Authority (FSCA) of South Africa has recently issued a critical warning regarding a fraudulent Telegram channel that is misleading the public by impersonating the Old Mutual Limited Group. This alert comes as part of a broader effort by the FSCA to combat financial fraud and protect…
South African President Cyril Ramaphosa has recently enacted a pivotal new law that amends the National Small Enterprise Act of 1996, marking a significant shift in the legislative landscape aimed at enhancing support for small businesses across the country. This comprehensive legislative update introduces several key reforms designed to address…
Mercury Bank, a U.S.-based fintech firm known for its banking services for early-stage startups and tech founders, has recently restricted Nigerian founders from opening accounts on its platform. This decision, notably lacking a detailed explanation, has generated significant concern and speculation within the Nigerian entrepreneurial community. The only official communication…
Schneider Electric, a global leader in energy management and automation, has partnered with Nairobi-based IXAfrica Data Centres to launch East Africa’s first and largest hyperscale data center. This development aims to transform Kenya’s digital landscape by providing stable, reliable, and sustainable cloud services. The new Tier 3+ facility, dubbed NBOX1,…
The Nigerian Federal Government is leading a digital initiative aimed at modernising agriculture and supporting farmers across the country. A cornerstone of this project is the development of a mobile application designed to serve as a comprehensive training and guidance platform for farmers, equipping them with essential knowledge and resources…
ReElement Technologies Corporation, a leading provider of high-performance refining capacity for rare earth and critical battery elements, and United Kingdom-based Jupiter Lithium, a company focused on lithium exploration and development, have formed a groundbreaking partnership. The collaboration aims to develop Nigeria’s first large-scale lithium deposit, spanning an expansive 442 square…
Nokia, today announced a new partnership with Telecom Egypt to bring 5G technology to the country for the first time. This strategic collaboration aims to unlock a new era of connectivity, empowering businesses and individuals with faster data speeds, enhanced performance, and expanded capacity. Nokia says, in its press release,…
European regulators have leveled accusations against Elon Musk’s social media platform X (formerly Twitter) for allegedly deceiving users with its paid blue checkmark system. The European Commission released a statement on Friday claiming that X has breached the Digital Services Act (DSA) in multiple areas, including the use of “dark…
The Federal Government, in a move set to revolutionise data collection and analysis in Nigeria, has established a high-level committee to oversee the nation’s first fully digital census. This ambitious initiative aims to leverage technology to enhance the accuracy, efficiency, and transparency of the census process, addressing historical challenges and…
The Independent Communications Authority of South Africa (ICASA), in a bold move to protect consumers and promote fair competition, has amended the Electronic Communications Act to curb market power abuse in the mobile retail sector. This regulatory shakeup aims to rein in dominant mobile network operators (MNOs) and prevent them…
CanalBox, a new broadband internet service provider, has officially launched in Uganda, promising to revolutionize internet connectivity in the East African nation. The company has invested over Shs50 billion (US$13.5 million) in the past 11 months to establish its fiber optic network infrastructure in the country, marking a significant milestone…
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is partnering with the Nigeria Postal Service (NIPOST) in a strategic move to address the persistent logistical challenges faced by small and medium-sized enterprises (SMEs) across the country. The announcement, made by SMEDAN’s Director General, Mr. Charles Odii, via his…
Effective communication is the cornerstone of any successful endeavor, especially in the fast-paced and competitive world of technology. Whether you’re collaborating with a team, pitching a groundbreaking idea to investors, or simply networking with potential employers, your ability to convey your thoughts and ideas clearly and concisely can make or…
Zimbabwean financial services firm Bard Santner Incorporated has unveiled TX Money Transfer, a new platform designed to streamline and enhance the flow of funds into the country. With annual diaspora remittances exceeding US$1 billion, the company aims to capture a significant share of this lucrative market by offering a reliable,…
The International Finance Corporation (IFC), a member of the World Bank Group, has expanded its relationship with TerraPay, a leading global payments infrastructure company, to enhance remittance services in emerging markets. This strategic partnership aims to address the challenges faced by millions of individuals who rely on remittances to support…