Author: Tapiwa Matthew Mutisi

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…

The Federal Ministry of Agriculture and Food Security in Nigeria is joining forces with the National Identity Management Commission (NIMC) to initiate a comprehensive data collection effort for Nigerian farmers. The primary aim of this initiative is to improve the allocation of agricultural resources and deliver precise assistance to the…

Nigeria’s government is poised to enact a sweeping reform of its tax laws, including measures to regulate the cryptocurrency sector, with a target implementation date of September 2024. Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), disclosed this plan during a joint session with the Senate…

Kenya Airways has announced its first profitable half-year since 2013, attributing the positive outcome to increased revenue and reduced operational expenses. The airline recorded a net profit of $3.9 million (KES513 million) for the first half of 2024, which is a remarkable 102% improvement from the same period in the…

MTN Group, the South African telecommunications giant, has experienced a substantial financial setback, recording its first loss in eight years. The company disclosed a loss of R7.39 billion ($414.7 million) for the first half of 2024, a sharp downturn from the R4.14 billion ($232.3 million) profit reported in the corresponding…

The Nigerian Electricity Regulatory Commission (NERC) has authorized MTN Communications Nigeria Limited to produce 15.94 megawatts (MW) of power through four captive power plants situated in Lagos State. According to a NERC announcement, this authorization is part of a larger scheme that resulted in the issuance of three new trading…

Liquid Intelligent Technologies, a leading communications solutions provider, has entered into a strategic alliance with Globalstar, a company at the forefront of satellite technology, to enhance 5G connectivity across Africa, the Middle East, and the Gulf region. Through this partnership, Liquid is granted the exclusive rights to market and distribute…

Waza, a startup specializing in B2B payments and liquidity solutions for businesses in emerging markets, has successfully raised $8 million through a combination of equity and debt financing. This capital injection is aimed at fueling the company’s expansion beyond its current footprint in Ghana and Nigeria, as well as at…

The Bank of Ghana (BoG) is taking proactive steps towards establishing a regulatory environment for digital assets, including cryptocurrencies, by releasing draft guidelines. The bank is actively seeking input from various stakeholders, such as industry professionals, experts, and the general public, with a deadline set for August 31, 2024, to…