Author: Tapiwa Matthew Mutisi

Renew Capital, an impact investment firm with a focus on accelerating the growth of enterprises in Africa, has recently declared a strategic investment in Zuri, an emerging beauty brand with ambitions to revolutionize the beauty industry on the African continent. Since its inception in 2016, Zuri has distinguished itself in…

The International Finance Corporation (IFC), part of the esteemed World Bank Group, is currently evaluating a substantial financial commitment to a Moroccan venture capital fund that is dedicated to nurturing emerging technology enterprises in the regions of North and West Africa. The IFC has disclosed its intention to potentially inject…

The Alma Clinics network, a South African enterprise of nurse-led primary healthcare facilities, has recently obtained a substantial investment of $2.8 million from IDF Capital through its Alitheia IDF Fund (AIF). This infusion of capital is set to propel the expansion efforts of Alma Clinics throughout the nation. Alma Clinics…

The German Corporation for International Cooperation (GIZ), acting on the directive of the German Federal Ministry for Economic Cooperation and Development (BMZ), has introduced a novel initiative named develoPPP Ventures, which is specifically designed to provide financial support to burgeoning startups in South Africa. This initiative, develoPPP Ventures, is particularly…

A year has passed since Pick n Pay introduced cryptocurrency as a payment option, and the retailer is now reporting monthly sales of R1 million from customers who are purchasing groceries, data, airtime, and settling their municipal bills using this digital currency. Pick n Pay has observed a significant uptick…

Brave Software, known for its dedication to privacy, is enhancing its Leo chatbot by incorporating search results directly from its Brave Search API. This feature is seamlessly integrated within the company’s proprietary web browser. The firm believes that this new functionality will enable users to access information that is more…

Tesla’s shareholders have once again given their nod to Elon Musk’s substantial compensation plan, months after it was struck down by a court in Delaware. At Tesla’s yearly gathering of stockholders, the investors endorsed a motion to reauthorize Musk’s remuneration, which is currently valued at approximately $48 billion, as reported…

The Securities and Exchange Commission (SEC) of Nigeria has recently released an advisory to the general public, cautioning them about the potential dangers of investing in memecoins. Among these memecoins is one named $DAVIDO, which is associated with the well-known Nigerian musician David Adedeji Adeleke, widely recognized by his stage…

Ecobank Transnational Incorporated, a leading pan-African banking conglomerate with operations in Nigeria, has announced its intention to bypass the Nigerian Exchange and other capital markets in its efforts to secure $600 million. This capital is aimed at fulfilling the recapitalization requirements set by Nigerian regulators. The bank plans to raise…

Potcast Productions, an Egypt-based company specializing in podcast production, has recently obtained an undisclosed amount of pre-seed investment to bolster its content creation capabilities, enhance its marketing strategies, and expedite the launch of new podcast series. Established in 2020 by entrepreneur Islam Adel, Potcast has developed a portfolio of 15…

Kenya’s Finance Minister, Njuguna Ndung’u, has announced a significant increase in the minimum capital requirements for commercial banks, as decreed by the Central Bank of Kenya (CBK). The new directive will raise the capital threshold by ten times the current amount, setting it at $77.8 million (KES 10 billion). This…

The World Bank has recently approved a substantial financial aid package for Nigeria, amounting to $2.25 billion, aimed at bolstering the country’s economic reform efforts. This decision comes on the heels of statements made by Finance Minister Wale Edun two weeks prior, emphasizing the importance of maintaining momentum in the…

The Federal Inland Revenue Service (FIRS) of Nigeria has recently withdrawn the allegations of tax evasion that were previously directed at two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla. Consequently, Binance now remains the only party facing these charges. This development occurred a week subsequent to the expression of concern…

Telkom, a prominent telecommunications company listed on the Johannesburg Stock Exchange, provided a detailed financial forecast in a trading update on Wednesday, June 12, 2024. The company anticipates a significant surge in its earnings, projecting an increase of as much as 200% for the fiscal year that concluded on March…

Airtel Kenya has made significant strides in the expansion of its 5G network, now encompassing 39 counties and 285 wards across the country, with a robust infrastructure of over 690 active sites. This expansion is a response to the growing adoption of 5G technology among Kenyan users. The telecommunications company…

The Nigeria Data Protection Commission (NDPC) has reported that a total of seven entities, comprising four banking institutions and three other companies, have collectively paid fines amounting to ₦400 million due to violations involving the mishandling of personal data of Nigerian citizens. This information was disclosed by Vincent Olatunji, the…

The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has announced the commencement of its nomination process for the prestigious AWIEF Awards. These awards are a testament to the remarkable accomplishments and influential roles of women entrepreneurs and founders throughout the African continent. As a leading pan-African organization, AWIEF’s core mission…

Meta, the conglomerate behind social media giants Facebook, Instagram, and WhatsApp, is in the process of reassessing its physical office requirements, with a particular focus on reducing its footprint at the Kings Tower facility in the upscale Ikoyi district of Lagos. The company has issued a statement confirming its practice…

ThriveAgric, an innovative agricultural technology startup based in Nigeria, has recently declared a strategic alliance with Visa, the renowned global payments technology company. This collaboration is aimed at facilitating ThriveAgric’s expansion into the Kenyan market and is poised to benefit as many as 10,000 local farmers. With a well-thought-out plan,…

The Bank of Ghana (BoG) in collaboration with the Monetary Authority of Singapore (MAS) has successfully completed the inaugural proof of concept for Project DESFT (Digital Economy Semi-Fungible Token). This groundbreaking project showcases the potential for leveraging digital credentials in the realm of international commerce and in the facilitation of…