Business

A collection of 361 posts

Autochek

Autochek acquires CoinAfrique to Expand into Francophone Africa

Autochek, a pan-African automotive e-commerce company, has acquired CoinAfrique, a classified marketplace in francophone African countries, for an undisclosed sum to accelerate the penetration of its auto financing services in the region, particularly in Senegal and Côte d’Ivoire. The deal, which will see CoinAfrique’s team join Autochek and

Business

Nairobi Becomes Home To Bolt Regional Hub

Bolt’s Estonian mobility company has made Nairobi, the capital of Kenya, home to its head office in Africa. The calculated decision is said to strengthen the administration of its African offices. The office, which is precisely located at Riverside Drive, will serve as the company’s cord to other

Amazon

Amazon Egypt Rolls out BNPL Offer in Egypt via valU

Amazon is introducing installment payment plans through valU, the leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform in MENA and a subsidiary of EFG Hermes Holding, in its quest to improve the shopping experience for its Egyptian customers through flexible and affordable payment options. Customers who are also valU customers will

Business

Airtel Kenya Gets New CEO

One of Kenya’s leading telecommunication firms, Airtel Kenya, has announced the appointment of its new Chief Executive Officer (CEO), Ashish Malhotra. According to sources, Malhotra succeeds Parsanta Das Sarma, who recently left the company. Parsanta has held the position of CEO for the past five years. He has played

Business

Egypt’s Fintech, MNT-Halan Acquires Talabeyah, B2B E-commerce Startup for an Undisclosed Amount

MNT-Halan, a leading Egyptian fintech startup and the fastest-growing lender to the unbanked and underbanked has acquired Talabeyah. This fellow Egyptian B2B e-commerce startup provides FMCG supplies directly to small merchants, retailers, and, soon, consumers, meeting all of their requirements with next-day delivery for an undisclosed sum. The transaction’s

Business

What Airtel’s $42m DR Congo’s 4G Network Expansion can bring to the Country

4G network has rapidly evolved in Africa’s mobile communications system space. The 4G LTE usage grew from 0 to 150 million people in its first year, and roughly 1.3 billion people now have access to it. 4G not only gives super-fast access to millions of customers but can

Business

An Amazing Decade with Jumia: Playing the Amazon Role in Africa for 10 Years

Trade improvement has been a necessity for economies, especially as it informs the financial efficiency of the economy. However, tech has been used to acceleration of trade through e-commerce. Pan-African e-commerce giant has verifiably done the most in facilitating e-commerce in Africa. As Africans integrate the building blocks required for

Business

Streaming Platform, Disney+ Enters 16 more markets across MENA

One of the leading global streaming companies, Walt Disney Company has announced its launch of Disney+ in 16 markets across the Middle East and North African region (MENA). This comes barely a month after the launch of Disney+ in South Africa. The company has an ambitious goal of doubling the

Business

Moroccan E-commerce Startup, Chari Enters Ivorian Market through Diago Acquisition

Chari, a Morocco-based B2B e-commerce and fintech startup, has entered the Ivory Coast market by acquiring the Ivorian Diago. This app connects neighborhood shops to FMCG producers and importers. Diago, which operates solely in Abidjan, was founded in 2021 by Ali Ouattara and Amidou Diarra, two former Glovo and PepsiCo

Arabian Centers Company

Egypt’s Fintech Firm, ValU Partners FAS Labs to Extend its Offerings to the Saudi Market

valU, Egypt’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform in the MENA region, has expanded its digital financial solutions to customers in the Kingdom of Saudi Arabia through a partnership with FAS Labs, which is owned by Fawaz Abdulaziz Alhokair Co. (Alhokair) and Arabian Centers Company (ACC). FAS Labs

Business

Kenya's Safaricom Partners Visa to Launch M-Pesa Virtual Visa Card for Global Digital payments

Safaricom, East Africa’s biggest telecommunication company and operator of the M-Pesa mobile money product, and Visa, one of the world’s major card payment companies, have announced the launch of a virtual card that allows M-Pesa customers to make digital transactions globally. The long-awaited M-Pesa GlobalPay Visa virtual card

Appetito

Egypt's Appetito Acquires Lamma, Becomes Africa's Largest E-Commerce Platform by Market Size

Appetito, Egypt’s Quick-Commerce platform that delivers groceries and household products to customers from 11 dark stores in three Egyptian cities, is acquiring Lamma, another Q-Commerce platform that operates in the Maghreb regions of Tunisia and Morocco, for an undisclosed sum in a deal that is expected to close by

Business

Mastercard Partners Travel Platform, Musafir venture to boost seamless travel bookings across MENA 

The world’s leading card payment company, Mastercard, has announced its partnership with the travel website, Musafir to digitize end-to-end payment flows and launch new innovative payment products with attractive travel benefits to both consumers and corporates in the Middle East and North African region. As the travel industry continues

Business

MTN NG’s fintech subsidiary, MoMo PBS Ltd Formally kickoff Operations in Nigeria

YESTERDAY, the MTN Group announced that MTN Nigeria’s fintech subsidiary, MoMo Payment Service Bank (MoMo PSB), has formally kicked off its operations in Nigeria. The official commencement of operation comes at the heels of the company’s successful pilot test launched on 16 May 2022 in commemoration of its

Business

Mastercard and OPay announce strategic partnership to boost digital inclusion

Mastercard and fintech giant OPay has announced a strategic partnership that will open up digital commerce to millions of people across the Middle East and Africa. This partnership which marks a significant boost for wider financial inclusion and economic prosperity will see OPay consumers and merchants in the region – including

Business

American Tech giant, Oracle opens its first African R&D Lab in Morocco

Oracle, the world’s largest database management company, has announced the opening of a new facility of its Oracle Labs in Casablanca’s Casanearshore Park in the Kingdom of Morocco. Oracle’s first lab in Africa results from the collaboration between the company and its Moroccan partners – the Moroccan government

Business

Egypt's SWVL acquires UK-based Largest Smart Bus platform, Zeelo For $100M

SWVL Holdings, a global supplier of disruptive tech-enabled mass transit solutions, has today announced its completion of a formal agreement to acquire Zeelo, the United Kingdom-based largest smart bus platform, and technology scale-up by bookings, for $100 million. Swvl’s recent successful acquisitions of Viapool and Shotl, as well as

Business

Solar company, Bboxx reportedly acquires Ghana’s PEG Africa for $200 million

Bboxx, a London-headquartered cleantech startup that provides clean energy in Africa, has reportedly acquired PEG Africa, another cleantech startup based in Accra, in a deal worth $200 million, according to reports from TechCabal. This deal is the largest across all categories—including venture funding, grant, or M&A—in

Business

African Banks are Scaling through Banking as a Service: Evidence from South Africa's Nedbank

Nedbank has been able to achieve giant strides over the years in Africa’s Fintech space. According to Barret Value Centre, their focus on building a strong foundation of values has contributed immensely. However, Nedbank have not been without some challenges. In fact, Nedbank was once considered the lowest of

Business

Chooya is Leveraging Word-of-Mouth Advertisement for Business Growth

African businesses are more aware of the reality of demanding, brand-conscious consumers living in a challenging environment. However, they still have to find the most efficient and effective way to reach them. This essential aspect of commerce has been simplified most effectively by Chooya. The Nigerian E-commerce startup is looking

Business

OPay receives Provisional Approval from CBE, partners Egypt's largest card provider to Issue Prepaid Cards 

Opay, the emerging market fintech unicorn announced that it has received provisional approval from the Central Bank of Egypt (CBE) to issue prepaid cards via its OPay app in partnership with Masria Digital Payments (MDP), Egypt’s largest card provider. This is a bold step since the fintech company signed

Business

Visa, the global leader in digital payments opens the first African Innovation Studio in Nairobi

Visa, a leading digital payment company that accelerates payments between consumers, merchants, financial institutions, and government organizations in over 200 countries and territories, has inaugurated an Innovation Studio in Nairobi, Kenya. This facility will serve Sub-Saharan Africa and be part of Visa’s network of innovation centers, which have been

Business

Boya is Transforming the Credit Culture of African Businesses

According to research, 51% of 44 million formal SMBs in sub-Saharan Africa cannot access finance. Each day, African SMBs have billions locked up in receivables due to long payment cycles. This leads to cash flow problems that cause businesses to be late on important expenses and fulfilment of new orders.

Business

How Lenco will Service 50 Million African Small and Midsize Businesses

Africa’s fintech sector is heating up. But, as much as we see more fintech startups launch, the industry still needs more. Millions of businesses and individuals need the services these startups provide. We have the likes of Sparkle, Prospa, Float, and consumer Neobanks Carbon and Kuda, but we still

Business

Heyfood is Raising the Standard of Food Delivery Service in Africa

In a tech savvy global system, businesses that aren’t digitally oriented are more likely to fall behind. With technology disrupting the global system, more and more businesses are joining the tech frenzy to remain competitive. The thirst for convenience has prompted the enhancement of service delivery across sectors in