Author: Tapiwa Matthew Mutisi

The Bimalab Africa Insurtech Accelerator Program, initiated by FSD Africa, has recently been granted a significant investment of $600,000 from the Swiss Re Foundation. This funding will allow the program to extend its operations more comprehensively across the African continent. The program, which formerly covered 10 African countries, will now…

Maliyo Games, a notable game development studio based in Lagos, Nigeria, has entered into a partnership with Disney Games for the launch of a mobile game. This new game is based on the animated series, Iwájú, which is currently available on Disney+. Maliyo Games, recognized for crafting mobile games deeply…

Stanbic Holdings in Kenya has announced that it’s holding off on its plans to create a fintech subsidiary, despite receiving the green light from the Capital Markets Authority (CMA) to commence operational activities in the fourth quarter of 2023. The company, a member of the Standard Bank Group, didn’t provide…

Interswitch, a Nigerian payments giant that is backed by Visa and reported revenues of $42 million for its financial year that ended on March 31, plans to venture into Nigeria’s telecommunications sector. This strategic move comes after the acquisition of a Tier 5 MVNO (Mobile Virtual Network Operators) license, which…

Unlimit, a fintech organization based in London that exclusively deals with cross-border payments, has publicized its recent entry into the Tanzanian market following the acquisition of a mandatory license from the Bank of Tanzania (BOT). This move comes less than twelve months after its successful expansion in Nigeria and Kenya,…

PalmPay, a fintech platform focused on Africa, has introduced two new services in Nigeria – Unlimited Free Transfer and Target Savings. These offerings eliminate transfer fees to all banks and fintech platforms via the PalmPay application. The company announced that the Unlimited Free Transfer product provides app users with the…

Simera Sense, founded in South Africa and specializing in providing comprehensive optical solutions for small satellite earth observation, has secured €13.5 million in its initial growth investment round. The company divulged that the joint investment came from NewSpace Capital and Knife Capital, aimed at aiding it in scaling up its…

Bode Abifarin, has recently announced her resignation as the chief operating officer (COO) of Flutterwave, a fintech company, following the departure of three other finance executives four months prior. Abifarin, who has been a crucial part of Flutterwave for the past six years, has decided to shift her focus towards…

The Nigerian government detained two executives from the global cryptocurrency exchange Binance, including former US federal agent and American citizen, Tigran Gambaryan, and the Kenya-based regional manager for Africa, Nadeem Anjarwalla. This move came a week after Nigerian authorities had instructed telecom companies to block several cryptocurrency exchange websites. Gambaryan,…

OpenAI is disputing a legal claim made by Tesla CEO Elon Musk. Musk, as a co-founder of OpenAI, had filed a lawsuit against the AI research organization, alleging it had violated a “founding agreement” by releasing an AI language model, GPT-4, without proper scientific details. According to Musk, this action…

Founded in 2020 by Mohamed Mousa and Sherif Abdelaty, dKilo, an innovative adtech platform based in Egypt, has recently secured an impressive seed funding of $3.2 million. This robust financial backing comes from Upturn Ventures and Revival Labs. dKilo is a game-changer aiming to transform the advertising sector radically. The…

MTN Group has appointed Ali Monzer to lead its operations in South Sudan as the CEO, effective from 1 April 2024. The company made an announcement regarding Monzer’s new role today, confirming that he will take over from Gordian Kyomukama, who is set to retire from the group. Monzer is…

Bitcoin continues to show strength as it enters the new week, reaching an unprecedented high and extending the gains it has recently made. As the leading cryptocurrency in the market, Bitcoin last registered a surge of 4%, taking its value up to $72,492.42, as reported by Coin Metrics. Even before…

Reddit, recognized as a social media entity hosting a myriad of web discussions from ordinary to highly specialized, is looking to price itself at around $6.5 billion for its impending initial public offering (IPO). The company, together with its current shareholders, will offer around 22 million shares priced between $31…

Kenya has inked a groundbreaking agreement with the United Arab Emirates to establish the world’s first geothermal energy-powered data center. The Memorandum of Understanding (MoU) was signed by EcoCloud, Kenya’s leading data center solutions provider, and G42, an Emirati firm specializing in artificial intelligence (AI). The signing ceremony was witnessed…

Villgro Africa, a healthcare-centric incubator and investment firm, is extending its support to African female entrepreneurs heading innovative healthcare startups. As the African counterpart of India’s Villgro Innovations Foundation, Villgro Africa is on the lookout for ventures that have the potential to drastically enhance healthcare equity and accessibility throughout the…

EMURGO Africa, which serves as the investment and commercial division of Cardano in Africa, has announced the establishment of EMURGO Labs, an entity specifically developed to foster the growth of emerging Web3 technologies. Operating in both Africa and the MENA region, EMURGO Africa leverages blockchain technology to confront local issues,…

Uber, the global ride-hailing company, has refuted claims that it failed to adhere to a 2020 agreement to share data with the Lagos State Government. The agreement requires ride-hailing companies to provide real-time user trip data, giving the government access to backend information. Oluwaseun Osiyemi, the Lagos State Commissioner of…

Vodacom, a leading African mobile company, is allegedly in discussions with a former employee, Kenneth Makate, seeking an out-of-court settlement over the “Please Call Me” phone service dispute. According to Makate, Vodacom has initiated private talks, which he is agreeable to. This development comes in the wake of a ruling…

RasMal, a Saudi-based equity management platform, has acquired Pentugram, a cloud-based software as a service (SaaS) tool that automates investment processes for investors. The financial details of the deal have not been disclosed. With this acquisition, RasMal aims to strengthen its commitment to supporting the entrepreneurial ecosystem and simplifying fundraising…