Author: Tapiwa Matthew Mutisi

Kofa, a Ghanaian e-bike startup, has announced plans to launch the Kore 2 Swap & Go network, marking the arrival of Africa’s pioneering multi-use, swappable battery platform. The Kofa Swap & Go system, built on affordable, renewable energy, is a customer-centric grid consisting of portable batteries and swap stations enabling…

Mobile internet was temporarily suspended in Senegal on Monday, increasing fears in a country often hailed as one of Africa’s most secure democracies. This suspension, which came just days after President Macky Sall deferred the Presidential elections scheduled for February 25th, is the third of its kind in Senegal in…

FinTechs KoinKoin and SR FINANZMANN have successfully raised a $2 million private funding round, significantly bolstering their corporate OTC business for foreign exchange and digital assets. This investment will facilitate the development and expansion of technical FX across both firms, primarily in Africa, along with enhancing the availability of G3…

Identity management firm Okta announced on Thursday plans to lay off approximately 400 employees, constituting around 7% of its total workforce. CEO Todd McKinnon explained that costs were still too high, necessitating the layoffs. Despite the news, Okta’s shares increased by about 3.6% in premarket trading. Okta reaffirmed its fourth-quarter…

During a call with analysts following Apple’s fiscal first-quarter earnings report, CEO Tim Cook hinted at a potential artificial intelligence (AI) revelation by the company planned for later in the year. Cook didn’t provide much detail, but stressed Apple’s desire to compete with tech giants such as Microsoft, Google, Amazon,…

Amazon announced on Thursday the launch of Rufus, a new AI-powered assistant designed to enhance shoppers’ buying experience. Rufus enables users to search for products and ask questions in a conversational manner, such as “What are the differences between trail and road-running shoes?” or “Compare drip and pour-over coffee makers.”…

South African fintech startup, SOLmate, is experiencing robust demand for its digital wallet within the domestic market. The startup has reported a 100% annual increase in its user base. A significant achievement for SOLmate arrived in December when it recorded a million transactions since its inception. The past two months…

Safaricom, the premier telecom provider in Kenya, has announced a policy change preventing M-PESA users from sending money to unregistered individuals. This shift impacts not only the users of M-PESA, Safaricom’s mobile money service, but also those utilizing Airtel Money and T-Kash, which is run by Telkom, Kenya’s third-largest operator.…

Elon Musk’s SpaceX owned low-orbit satellite service, Starlink, encountered a setback in their global expansion as their application to operate in Botswana was denied. The refusal comes ahead of their anticipated Q4 2024 launch. Despite submitting an application in May 2023, the Botswanan regulator deemed that Starlink failed to present…

In July 2023, the Assets Recovery Agency (ARA) of Kenya tried to get court permission to drop money laundering charges against the fintech startup. However, the judge refused to allow this, citing the ARA’s inability to present supporting evidence to justify proceeding with the case against Flutterwave. Nevertheless, by November…

Zoom, the leading video conferencing platform, is laying off approximately 150 employees, marking less than 2% of their total workforce, according to a company spokesperson. The move is part of a broader effort to realign the company with their strategy and focus in areas like artificial intelligence, sales, product, and…

Google has announced that YouTube has amassed over 100 million paid users for YouTube Music and YouTube Premium, marking a significant increase from the 80 million reported in November 2022. This information was revealed during the company’s Q4 2023 earnings call, where CEO Sundar Pichai noted that Google’s subscription business,…

Kippa, a fintech startup backed by Target Global, saw the departure of its co-founder and President, Duke Ekezie, following the shutdown of Kippa Pay, the agency banking product he supervised. Ekezie confirmed his exit and reported working on a new venture, though he didn’t provide specifics. He continues to hold…

The Central Bank of Nigeria (CBN) has issued a directive to remove the initial cap on exchange rates set by International Money Transfer Operators (IMTOs). The move comes in response to alleged excessive speculation and hoarding of foreign currency within Nigerian banks. As per a circular sent to authorized dealers,…

Telecommunications firm Airtel Africa, operating in 14 African countries, reported a staggering 99% drop in profits last year due to currency devaluation in several of its key markets, including Nigeria, Malawi, Zambia, and Kenya. The devaluations of the Naira and the Malawian Kwacha significantly impacted Airtel Africa’s margins, resulting in…

Zone, the first African company with a licensed blockchain payment infrastructure, intends to launch a remittance product in 2025, according to CEO Obi Emetarom. The product is currently under development and aims to tackle the three significant challenges faced by remittance providers and International Money Transfer Operators (IMTOs): distribution, liquidity,…

MultiChoice, a pan-African broadcaster, announced it will invest an additional $89 million into the streaming platform Showmax by March 31, 2024. The company stated that the investment forms a part of a $129 million funding round by MultiChoice and NBCUniversal, which owns a 30% stake in Showmax. To date, the…

Absa has announced plans to establish a physical presence in China through a non-banking subsidiary that will offer advisory services. The new subsidiary will be based in Beijing and aims to assist Chinese clients and stakeholders in concluding transactions across Africa. Absa said this move reflects its broader commitment to…

Eutelsat Group and South African satellite enterprise Q-KON have launched the first operational Eutelsat OneWeb Low Earth Orbit (LEO) satellite service in Africa, installed at an undisclosed digital bank branch in South Africa. Q-KON’s Twoobii Smart Satellite Services installation offers a reliable Internet connection speed of 50 megabits per second…

Phumzile Mlambo-Ngcuka, former deputy president of South Africa, has been named an independent non-executive director at Mercedes-Benz SA (MBSA). Her term on the board of directors will commence on February 1, 2024, and will span three years. This appointment follows the resignation of the previous independent non-executive director, Nozipho January-Bardill.…