Author: Tapiwa Matthew Mutisi

Angola Cables, a prominent global connectivity provider, is making significant strides in Africa’s burgeoning connectivity landscape by extending its services to Malawi, Zambia, and Zimbabwe. This strategic move aims to enhance Internet access in these regions, aligning with the continent’s rapidly growing digital economy. Sudhir Juggernath, CEO of TelCables Southern…

Vodacom, South Africa’s largest mobile operator, revealed that its mobile money platforms, including Safaricom, processed a staggering $421.3 billion (R7.4 trillion) in transaction value over the past 12 months. This announcement was made during the company’s interim financial results and dividend declaration for the six months ending 30 September. Financial…

MTN Group, Africa’s largest mobile operator and a company listed on the Johannesburg Stock Exchange (JSE), reported an 18.5% decline in revenue for the third quarter (Q3) of 2024. The company released its Q3 results today, highlighting several key financial metrics and operational developments. Revenue and Financial Performance The telecom…

Natsave and Airtel Money have announced the launch of the Fikiliza overdraft service, a new initiative aimed at boosting financial inclusion in Zambia. This service provides instant credit to Airtel Money users, addressing the needs of unbanked populations and aligning with Zambia’s growing mobile money sector, which accounted for 56%…

Access Bank UK, a subsidiary of Access Holdings, has announced its plans to acquire a majority equity stake in AfrAsia Bank, which is Mauritius’ fourth-largest bank by total assets. This acquisition is a key component of Access Bank’s broader strategy to strengthen its presence across Africa through targeted acquisitions. This…

Egyptian startup Tafweela, which aims to revolutionize the vehicle payments ecosystem through its innovative end-to-end payment solution, has become the first venture-building project for T-Vencubator. T-Vencubator merges the advantages of venture capital and incubation to bridge the gap between Egypt’s entrepreneurial potential and technological capabilities. By doing so, it empowers…

Nigerian wealth management startup, Bamboo, has introduced a new fee-free remittances application named “Coins By Bamboo,” designed to facilitate seamless financial transactions from Canada to Nigeria. Founded in 2019 and a proud alumnus of Y Combinator, Bamboo is an innovative investment platform that equips Africans with the tools to build…

Bluesky, though still considered an underdog in the competition for alternatives to X, is rapidly gaining traction. The once Twitter-affiliated service has recently surpassed the 15 million user milestone, having added over a million new users in the past week alone, according to a company update. Despite being significantly smaller…

In an effort to further accelerate Africa’s burgeoning tech ecosystem, Google has unveiled its latest cohort of startups selected for the 2024 Google for Startups Accelerator Africa program. This year’s accelerator showcases a robust lineup of African innovators, with startups from across the continent dedicated to addressing challenges through pioneering…

MTN Uganda has just released its latest interim dividend report, revealing substantial earnings from its voice, data, and mobile money services. Despite facing a significant $70.89 million tax dispute with Uganda’s revenue authority last month, MTN’s East African division achieved an impressive 29.6% increase in earnings, reaching $124.8 million for…

MTN South Africa, in collaboration with Huawei, has successfully concluded Africa’s inaugural 5.5G network trial at its headquarters in Johannesburg. Renowned for its advancements in 5G technology, MTN is now spearheading the introduction of 5.5G in Africa. This next-generation technology promises to deliver faster and more intelligent connections, propelling the…

The Guardian has announced that it will cease all activity on X (formerly known as Twitter), with all its editorial accounts stopping their posts on the platform. However, users can still share The Guardian’s articles on X, and its journalists may link to or embed X posts in their articles…

President-elect Donald Trump has appointed Elon Musk to lead a newly established “Department of Government Efficiency.” This department aims to “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.” The Tesla CEO and owner of X will head the initiative alongside former presidential candidate Vivek Ramaswamy,…

Egypt’s Information Technology Industry Development Agency (ITIDA) and venture capital firm Flat6Labs have launched the InvestIT programme, aimed at providing Egyptian tech startups, particularly those at the seed or pre-Series A stages, with access to consultancy, tools, and investor connections to help them scale operations and enhance their global competitiveness.…

Egyptian interior design startup Efreshli has successfully raised a seed round of funding aimed at enhancing its offerings and expanding its product line. Founded by Heba Elgabaly, Efreshli offers convenient online furnishing and decorating services, making the interior design process more accessible. The platform features and sells thousands of products…

Bootstrap Europe, a EUR250 million (US$270 million) growth debt fund that has already provided over US$1 billion in loans to 300 businesses, is expanding its operations to Africa to increase the availability of debt funding for early-stage startups on the continent. Founded in 2015 by Fatou Diagne and Stephanie Heller…

Female entrepreneurs in Nigeria are encouraged to apply for the Growth4Her Accelerator programme, an initiative designed to address and bridge the gender financing gap prevalent in Africa. The Growth4Her Accelerator is a comprehensive six-month programme specifically tailored to empower women entrepreneurs. It provides them with the necessary skills, knowledge, and…

Standard Chartered Bank and British International Investment (BII), the UK’s development finance institution, have entered into a $350 million risk participation agreement designed to bolster the trade finance needs of small and medium-sized enterprises (SMEs) and larger corporations in Africa and South Asia. This strategic agreement is poised to stimulate…

ChitChat has expanded its social commerce services beyond Africa, now targeting advanced economies such as China, the United States, the United Kingdom, Japan, India, Canada, and Malaysia. This strategic expansion aims to broaden the app’s reach and enhance its service offerings to a global audience. In addition to its geographical…

Ghanaian electric vehicle (EV) startup Wahu Mobility has partnered with financial service provider Letshego to make EV ownership more affordable and accessible in Africa. This collaboration aims to empower communities by offering eco-friendly transportation options, marking a significant step towards sustainable mobility on the continent. Valerie Labi, Co-Founder of Wahu…