Author: Tapiwa Matthew Mutisi

MTN Group has announced the strategic appointment of four non-executive directors to the boards of its subsidiaries, MTN Group Fintech and Bayobab, as part of its ongoing commitment to bolster its leadership in the fintech and digital services sectors. Herman Bosman will take on the role of independent chairman for…

French authorities have formally charged Pavel Durov, the CEO of Telegram, and imposed a travel ban on him, preventing him from leaving France while they conduct an investigation into allegations against the Russian billionaire. On Wednesday, Durov faced charges of “complicity in the dissemination of child pornography, the illegal sale…

Liquid Telecommunications, a prominent African fiber company, is on track to secure a significant investment from a US development agency as part of its ambitious plan to raise US$225 million in equity by the year’s end, CEO Hardy Pemhiwa has revealed. The International Development Finance Corporation (IDFC) is set to…

Absa Group has disclosed that its CEO, Arrie Rautenbach, will be departing from the company following a downturn in profits for the half-year period ending June 30, 2024 (H1 2024). In a mutual agreement with the board, Rautenbach will take early retirement from the group, effective April 15, 2025. His…

Blue Label Telecoms has experienced a downturn in its financial performance, with a notable decline in earnings that persists even when the recapitalisation of Cell C is not taken into account. For the fiscal year that concluded on May 31, 2024, the company reported a significant drop in group revenue,…

The Egyptian fintech startup Menthum, which specializes in digital savings, has recently announced a strategic collaboration with CI Capital Asset Management. This partnership marks the introduction of a new USD fixed income fund aimed at transforming the savings and investment framework within Egypt. Menthum was established in November 2022 by…

In an effort to address the growing dissatisfaction among its drivers over inadequate earnings, Bolt, a leading ride-hailing company, reinstated its car loan program in Kenya on August 22. Despite this initiative, Bolt’s driver partners are maintaining their initial call for a reduction in the commission rates charged by Bolt…

Savannah Clinker has stepped into the acquisition battle for Bamburi Cement with a substantial $197.2 million counter-bid. This move comes shortly after Bamburi Cement, Kenya’s largest cement manufacturer, had already agreed to an acquisition proposal from Tanzania’s Amsons Group. Offering $0.54 per share, Savannah Clinker’s bid represents a significant 53.34%…

The South African startup Omnisient, which specializes in “privacy-by-design” technology, has successfully secured US$7.5 million during its Series A funding round. This capital injection is aimed at bolstering the company’s growth trajectory not only within Africa but also in international markets. Omnisient, established in December 2019, has developed a cutting-edge…

Safaricom, a leading telecommunications provider in Kenya, has refuted allegations that it has blocked payments for Starlink services through its mobile money platform, M-PESA. The need for clarification arose after a user on the social media platform X (previously known as Twitter) made a claim that Safaricom had halted M-PESA…

A quarter of a year subsequent to obtaining its operational permit, Starlink, the satellite internet venture led by Elon Musk, has commenced service provision in Botswana. Prospective users in Botswana will need to invest P4,820 (equivalent to $363) for the Starlink hardware, in addition to a delivery charge of P314…

The Kenyan-based social commerce enterprise, Sukhiba Connect, has recently announced the successful acquisition of an additional $1.55 million in seed funding. This financial boost comes nearly twelve months subsequent to its initial seed funding round, where it raised $1.5 million. The purpose of this capital infusion is to facilitate Sukhiba…

The fintech platform Fido, based in Ghana and Uganda, has recently achieved a significant milestone in its growth trajectory by securing a substantial $10 million in Series B investment. This infusion of capital comes courtesy of MASSIF, a fund dedicated to financial inclusion and managed by FMO, the Dutch entrepreneurial…

Uganda Telecommunications Corporation Limited (UTel), the erstwhile national telecom provider of Uganda, is on the cusp of a significant financial resurgence with the infusion of a substantial $225 million investment from Rowad Capital Commercial (RCC) LLC. This considerable capital injection is the culmination of thorough discussions and negotiations that took…

Starlink has officially initiated its internet service offerings in South Sudan, following the green light from the National Communications Authority (NCA). This move is part of a broader initiative to provide the country with accessible and affordable internet connectivity. Earlier in late June, Eye Radio covered the news that Starlink…

Microsoft has revealed plans to convene a specialized conference in September, aimed at dissecting the pivotal takeaways and security strategies the tech industry should adopt following the CrowdStrike computer shutdown incident that occurred in July. The summit, titled the Windows Endpoint Security Ecosystem Summit, is scheduled for September 10 and…

Kenyan enterprise MWINGI is on a mission to construct the most extensive network of interconnected trading outlets, known as “MWINGI Shops,” with the aim of becoming the primary supplier for both its franchisees and other local merchants within the region. Since its inception in October 2014, MWINGI has been pioneering…

Pavel Durov, the CEO of the messaging app Telegram, was detained at an airport near Paris this past Saturday. The arrest is part of a preliminary inquiry scrutinizing the app’s moderation policies and its alleged inability to effectively prevent criminal activities, as reported by Reuters, referencing French media outlets BFM…

Threads, the social media platform, is currently testing a new feature that allows users to set a 24-hour expiration timer on their posts. In line with this functionality, both the original post and any subsequent replies will automatically vanish after the set period, akin to the ‘Stories’ format popular on…

Ghanaian fintech innovator PayBox has recently unveiled Buddy, a comprehensive financial platform designed to grant young Africans access to inclusive financial services and autonomy. As a trailblazer in the fintech sector, PayBox has been at the helm of facilitating cross-border payments and fund transfers for small and medium-sized enterprises (SMEs)…