Author: Tapiwa Matthew Mutisi

MTN Nigeria has released its financial results for the nine months ending September 30, 2024, reporting a 0.9% decrease in total subscribers to 77.0 million, primarily due to the NIN-SIM directive. The company closed the nine-month period with a significant loss after tax of ₦514.9 billion, compared to a profit…

Ghanaian retail-tech startup Tendo Technologies has announced a strategic acquisition of its counterpart, Shopa, in a deal aimed at revolutionizing supply chain infrastructure across Africa. Tendo Technologies, founded in 2021 by Felix Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, empowers tens of thousands of individuals to launch and grow…

Young African entrepreneurs are now invited to apply for the 2025 edition of the Anzisha Prize, a prestigious program that offers a range of benefits, services, and prize money to support their ventures. The Anzisha Prize is an initiative delivered by the African Leadership Academy in partnership with the Mastercard…

Egyptian firm Raya Foods has secured a significant $40 million investment from Helios Investment Partners. Through this deal, Helios will acquire a 49% stake in Raya Foods, demonstrating strong confidence in the company’s potential to expand its manufacturing and export capabilities on a global scale. Raya Foods, Egypt’s second-largest exporter…

For the second time in less than two years, Dropbox is implementing significant layoffs. In a blog post authored by CEO Drew Houston, the company announced it would reduce its global workforce by 20 percent, affecting 528 employees. Dropbox has committed to providing the impacted employees with up to 16…

Last month at Meta Connect, Mark Zuckerberg announced that Meta AI was “on track” to become the most-used generative AI assistant in the world. The company has now achieved a significant milestone toward that goal, with Meta AI surpassing the 500 million user mark, as revealed by Zuckerberg during the…

LinkedIn has introduced its first AI agent, the Hiring Assistant, designed to automate repetitive tasks for recruiters and significantly enhance recruitment efficiency. This launch follows a year after LinkedIn unveiled Recruiter 2024, a suite of features leveraging generative AI to streamline the hiring process for talent leaders. The Hiring Assistant…

Bamboo, the Y Combinator-backed investment app that enables Africans to buy and trade both local and international stocks, is set to expand its operations to Canada after securing the country’s Money Service Business (MSB) license. In addition to its investment services, Bamboo will introduce a new remittance payment service called…

Telecom Egypt has successfully secured a substantial syndicated loan amounting to EGP 18 billion (approximately $370 million) to enhance its financial flexibility and improve its cash flow. This significant financial arrangement involves a syndicate of 13 banks, with Commercial International Bank of Egypt (CIB) and Banque Misr serving as the…

Gebeya, a Pan-African talent cloud technology company, has entered into a strategic partnership with NVIDIA, one of the world’s largest companies by market capitalization, to establish an ecosystem of 50,000 NVIDIA-certified developers across Africa. This collaboration will be implemented in phases, beginning with a proof-of-concept phase in the first year…

ETAP, a Nigerian insurtech startup that raised $1.5 million in pre-seed funding in 2022, has successfully expanded its operations into Ghana after obtaining an operational license from the country’s National Insurance Commission (NIC). The expansion into Ghana is facilitated through a strategic partnership with Hollard Insurance Ghana, one of the…

Wasoko and MaxAB, two leading eCommerce giants in Africa, have made a strategic decision to appoint Mo Elshenawy, the President and Chief Technology Officer (CTO) of the US-based self-driving car company Cruise, as an Independent Board Director and Technical Advisor. This bold move aims to strengthen their technology-driven growth initiatives.…

The Competition Authority of Kenya (CAK) has given its approval for Access Bank’s acquisition of the National Bank of Kenya (NBK) from KCB Group, with the stipulation that Access Bank retains 80% of NBK’s staff for at least one year. The transaction now awaits the approval of the Central Bank…

Globacom is poised to appoint Ahmad Farroukh, a former CEO of MTN Nigeria, as its new chief executive. This appointment signifies a major leadership transition for Nigeria’s third-largest mobile network operator and will be the first time the company experiences a change in leadership since its inception on August 29,…

South Africa-founded golf management startup Tagmarshal has successfully raised a multi-million dollar Series A investment round to support its ongoing expansion in staff, innovation, and client acquisition. Tagmarshal first gained attention in February 2015, and since then, the company has secured additional funding and relocated its headquarters to the United…

Kenyan edtech startup Eneza Education and Pakistan’s Knowledge Platform have merged to create a groundbreaking African-Asian educational technology venture, headquartered in Singapore. This cross-continental merger, facilitated by GSMA’s Innovation Fund, combines Eneza’s SMS-based learning solutions for underserved African communities with Knowledge Platform’s gamified digital learning tools for Asia. Operating under…

Airtel Africa, a prominent telecommunications and mobile money services provider, has announced its financial results for the half-year ending September 30, 2024. In conjunction with these results, Airtel Africa revealed the renewal of its tower lease agreements with American Tower Corporation (ATC). This renewal extends the lease for an additional…

Sony has officially decided to terminate Concord and close the studio responsible for its development. Just two weeks after the launch of the competitive team shooter by Firewalk Studios, Concord’s servers were taken offline due to disappointing sales. In response to the game’s struggles, Firewalk’s game director, Ryan Ellis, opted…

Netflix’s gaming division, initially renowned for its indie and mobile titles, recently ventured into the AAA gaming space by recruiting executives from renowned franchises such as Halo, Overwatch, and God of War. However, this strategy appears to be concluding as Netflix has confirmed the shutdown of its AAA studio, Team…

South Africa’s Competition Tribunal has blocked Vodacom’s attempt to acquire a significant stake in Maziv, a subsidiary of Community Investment Ventures Holdings (CIVH). The proposed deal would have allowed Vodacom to hold a 30% to 40% share in Maziv, merging its assets with those of Dark Fibre Africa (DFA) and…