Binance, the internationally renowned cryptocurrency exchange, has unveiled an expansion of its services in Africa by introducing a new feature that allows users in Ghana, Tanzania, Uganda, and Zambia to engage in cryptocurrency transactions using their mobile money accounts. This innovative feature, known as One Click Buy and Sell (OCBS),…
Author: Tapiwa Matthew Mutisi
TymeBank, a pioneering digital banking institution based in South Africa, has successfully amassed R4 billion (equivalent to approximately $222 million) in customer deposits. The bank has set its sights on expanding its operations to Indonesia by the end of 2024, marking its entry into the third Southeast Asian market. This…
The ride-hailing service Bolt has recently taken action to deactivate an unspecified number of user accounts after identifying a pattern of fraudulent activity. These accounts were reportedly involved in soliciting fictitious ride requests and then deliberately canceling them once a driver had committed to the trip. To further combat this…
Mike Lynch, a 59-year-old British technology entrepreneur, has been declared deceased following an extensive search and rescue operation, as reported by various news outlets. The 183-foot luxury yacht Bayesian foundered near Sicily’s coast at approximately 5 AM local time on Monday amidst a severe storm. Lynch was among the 22…
NoorNation, an Egypt-based startup focusing on climate technology, has recently received an undisclosed amount of funding from KBW Ventures, the venture capital firm established by Saudi Prince Khaled bin Alwaleed. This investment will facilitate NoorNation’s growth ambitions and enhance its pioneering work in decentralized energy and water systems. Launched in…
African B2B e-commerce platform, OmniRetail, has announced the appointment of Steve Dakayi as the Country Lead for Ivory Coast, signaling the company’s strategic expansion into the Francophone region of Africa. Dakayi transitions to OmniRetail following the closure of BetaStore, a B2B e-commerce venture he launched in 2020. With a decade…
IHS Holding, a prominent player in the telecommunications tower industry, is reportedly exploring the possibility of divesting its operations in Rwanda and Zambia. The company is gauging interest from potential acquirers, with the intention of allocating a portion of the proceeds from any sales to reduce its outstanding debt. This…
In an unexpected development, Quizac, an educational technology startup previously slated for closure this month, has been acquired by Tekedia Capital, an investment syndicate. The financial details of the acquisition have not been disclosed, as both parties have chosen to remain silent on the matter. Tade Samson, one of the…
Empower and Serve (Empserve), a non-profit organization committed to uplifting youth and marginalized communities through technological education and sustainable development initiatives, has unveiled its pioneering venture: the establishment of Kenya’s inaugural eco-village and center for social innovation located in Kajiado County. This initiative is designed to tackle the distinct challenges…
Fidelity Bank, a financial institution in Nigeria classified as a second-tier bank with a valuation of 323 billion Nigerian Naira (approximately 205 million US dollars), has publicly refuted claims made by the Nigerian Data Protection Commission (NDPC) concerning an alleged incident of unauthorized access to customer data. Additionally, the bank…
Liquid Telecommunication Holdings Ltd., headquartered in South Africa, is gearing up to enhance Africa’s digital landscape with a substantial capital infusion. The company is on track to secure $225 million in equity by the end of 2024, as confirmed by CEO Hardy Pemhiwa. A key player in this financial endeavor…
Access Bank, a prominent Nigerian financial institution with a significant market presence and a valuation of ₦1.01 trillion, is on the verge of acquiring the National Bank of Kenya (NBK), which is currently owned by the KCB Group. This strategic acquisition is pending the green light from two regulatory bodies…
Qatar Airways has recently expanded its footprint in the African aviation market by acquiring a 25% stake in South African regional airline Airlink. This strategic move is part of Qatar Airways’ broader objective to enhance its presence across the African continent. The investment in Airlink, which operates flights across 15…
Egypt’s T-Vencubator, a prominent venture capital and incubation firm, has recently unveiled its first investment initiative with the goal of funding five emerging startups by year’s end. The organization is designed to fuse the advantages of venture capital funding with the supportive environment of an incubator. This approach is intended…
The Kenyan e-commerce enterprise Twiga Foods, which found itself entangled in legal disputes with a cloud service provider earlier in 2024, has announced plans to downsize its workforce by 59 employees as part of a company-wide restructuring effort. This decision marks the second instance of significant job reductions at Twiga,…
In Kenya, individuals who find the cost of purchasing the Starlink internet kit prohibitive now have the option to rent the necessary equipment for a monthly fee of KES 1,950, which is equivalent to $15.15. This new rental opportunity was announced by the company on a Wednesday. For those interested…
Uber, the globally recognized ride-hailing service, has announced a 10% hike in its base fare in Kenya, a move aimed at appeasing drivers who had initiated a strike and set their own rates. The adjustment sees the minimum fare now set at $1.71 (KES220), along with the introduction of a…
Flutterwave, a leading fintech firm based in Nigeria, has recently made a significant move to broaden its payment options by enabling its online merchants in Nigeria to accept payments from American Express cardholders. This initiative is poised to facilitate cross-border commerce and is part of the company’s broader strategy to…
Leading independent tower company, IHS Towers, has recently undertaken a significant reduction in its workforce, terminating the employment of over 100 staff members. According to a Techcabal report, this decision comes as the company grapples with the financial strain caused by the devaluation of the Nigerian currency, which has had…
Zone, a company specializing in blockchain-based payment infrastructure, has entered into a strategic alliance with the Nigeria Inter-Bank Settlement System (NIBSS), with the goal of integrating Payment Terminal Service Aggregator (PTSA) capabilities into Zone’s blockchain technology. This collaboration is poised to enhance the seamless interaction and functionality among various entities…