Author: Tapiwa Matthew Mutisi

BYD, the pioneering Chinese electric vehicle (EV) manufacturer known as Build Your Dreams, is making a significant leap into the African market by establishing a presence in Zambia. This move is made possible through a strategic alliance with Pilatus Electric Mobility Zambia Limited (PEM). The doors of the new BYD…

Standard Chartered Bank, in collaboration with WomHub, has unveiled the second edition of the Women in Tech (WiT) Incubator Programme in South Africa, a powerful initiative designed to bolster women entrepreneurs in the technology sector by offering education, mentorship, and investment opportunities. The WiT Incubator Programme, which Standard Chartered first…

The Timbuktoo HealthTech Accelerator Program has launched a call to action for forward-thinking entrepreneurs and innovators throughout Africa, inviting them to present their revolutionary concepts aimed at reshaping healthcare across the continent. This initiative is on the lookout for startups that offer scalable and sustainable solutions, utilizing technology to tackle…

Nigerian fintech innovator Grey has forged a strategic alliance with dLocal, a prominent player in the cross-border payment sector, to facilitate its growth into new and emerging markets. Founded in 2021 by visionaries Idorenyin Obong and Femi Aghedo, Grey has quickly become a go-to service for international money transfers, offering…

Nigeria-based Kredete, a fintech startup that specializes in assisting African immigrants with credit score development and facilitating remittances, has successfully secured US$2.25 million in a seed funding round. This capital injection is set to bolster the company’s expansion efforts across Africa, where it has already established a presence in 20…

The Meltwater Entrepreneurial School of Technology (MEST), in partnership with the Norwegian Embassy, has announced the commencement of the application process for the sixth iteration of the MEST Africa Challenge. This year’s competition is particularly geared towards recognizing and bolstering outstanding entrepreneurs in the agricultural technology sector. MEST, which was…

Chpter, an innovative e-commerce startup based in Kenya, has successfully secured $1.2 million during its pre-seed investment round. The company, which was initiated by the entrepreneurial minds behind the Y Combinator-supported Marketforce, aims to allocate the newly acquired funds towards enhancing its technological infrastructure and pursuing growth opportunities in the…

The Nigerian Securities and Exchange Commission (SEC) has taken a significant step forward in the regulation of digital assets by issuing provisional licenses to two cryptocurrency exchanges, Quidax and Busha. This move comes just a week after the SEC indicated its intention to begin granting its inaugural set of cryptocurrency…

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…