Business

A collection of 361 posts

Bolt

Uber, Bolt among other ride-hailing companies face strict regulations in Kenya

Kenya National Transport and Safety Commission (NTSA) has embarked on the move to enforce its 18% commission cap on ride-hailing companies – Bolt, Uber and Little – in the country. According to Uber, the company cannot agree with the stipulated commission because it is 7% lesser than its current charge of 25%

Business

MTN's MoMo to pay customers UGX 5.7 billion

Mobile Telecommunication Company MTN’s subsidiary, MoMo Uganda, a mobile money platform has scheduled to pay its Ugandan customers UGX 5.7 million ($1,496.95) for the second quarter (April to June) of 2022. Following the enactment of the National Payment Systems (NPS) Act, 2020, MTN Uganda’s telco

Africa digital economy

KoinKoin exceeds $40m, plans global expansion

Africa’s digital assets exchange company, KoinKoin has revealed its plan for global expansion after it exceeded $40 million revenue in over-the-counter (OTC) transactions. The fintech company launched in 2017 by Ola Atose enables users to buy, sell and transfer digital assets round-the-clock across Africa, Southeast Asia and Western Europe

Arab social media platform

Baaz, Arab Foremost Social Media Platform Launches in Egypt

Baaz, the pioneer Arab social media platform, has announced its official launch in the Egyptian market, to create the largest gathering of Arab communities on the Internet – providing a safe space for the Arab world to embrace their culture and encouraging individuals to build connections and engage in meaningful, purposeful

Business

MVP Match, a Tech Talent Marketplace, Secures $5M Seed Funding to Build New Hubs in Africa and Europe

MVP Match, a German-based tech talent marketplace, has secured $5 million in seed funding from Stage 2 Capital to expand its strategy of connecting companies with talent from around the world. The startup will use the funds to establish new hubs in Africa and Europe, expand its team, and re-launch

Business

Flutterwave adopts eNaira as payment option in Nigeria

Africa’s leading fintech company, Flutterwave has announced the adoption of eNaira, Nigeria’s digital currency as part of its payment option asides cards, bank transfers, Barter by Flutterwave, etc — for merchants. The eNaira noted to be the first digital currency in Africa was launched on October 25 2021 as

beauty and personal care startups

ECC Group Acquires Majority Stake in Source Beauty, Egypt’s Leading Beauty E-Commerce Startup

ECC Group, Egypt’s leading beauty and personal care manufacturer, has acquired a majority stake in Source Beauty, Egypt’s foremost beauty startup. The deal provides a significant opportunity for Source Beauty’s clients to benefit from enhanced services such as new product innovation and manufacturing know-how, among other things.

Business

SafeBoda launches new product to compete with existing ride-hailing companies

SafeBoda has launched its new product, SafeCar, its ride-hailing service in Uganda and Nigeria. The product now serves as a competitor to existing taxi ride-hailing companies such as Uber, Little and Bolt in Nigeria and Uganda markets. Launched in 2017 in Uganda as its first market and first ride-hailing company

Business

OPPO to Establish $20M Mobile Phone Manufacturing Plant in Egypt 

OPPO, a leading Chinese mobile phone manufacturer, has signed a Memorandum of Understanding with the Egyptian Information Technology Industry Development Agency (ITIDA) to establish a $20 million mobile phone plant in Egypt. The MoU, which was signed in the presence of Egyptian Prime Minister, Moustafa Madbouly, stated that the plant’

Business

M-Kopa Unlocks $600M For Unbanked Customers

M-KOPA, a Kenyan-based asset financing firm and financial technology platform has revealed that it had unlocked tangible amount to cater for unbanked customers. Being an organization that is driven by its mission to grow, and commitment to its social and commercial goal, M-KOPA has evidently put in a lot of

Africa

Janngo Capital’s first close of €60m fund to support African women

Pan-African Venture Capital (VC) company, Janngo Capital Startup Fund (JCSF), second investment vehicle of the management company has announced the first close of its €60m ($63 million) capital commitments at €34m ($36 million). This was after VC Investor, Founder & Executive Chair of Janngo Capital, Fatoumata Ba announced in 2019

Business

Baxi Get ISO Certification, Commits To Continual Service Quality, Security

Baxi fintech, one of the leading financial service providers in Nigeria which was recently acquired by MSF Africa, a  leading digital payment gateway platform in Africa has announced its certification by the Internation Organization for Standardization. The announcement was made known through a newsletter revealed by the organization, as Baxi

Business

Estate Intel Maximizes Raised $500,000 Pre-Seed Round For Expansion

Estate Intel, a Nigerian property tech has announced its success in raising a pre-seed round to the worth of Five Hundred Thousand US dollars US$500,000 last year which funded its continental expansion in Africa The prop-tech which provides analytical data for real estate in Africa was initially launched

Business

African Rainbow Capital (ARC) Reports Increase in Net Value

African Rainbow Capital Investments, a financial services company, on Tuesday, September 13, reported a significant increase in its intrinsic net asset value per share of 14.7% as part of its financial results for the year ended June 2022. It claimed that some of the companies it has invested in,

Business

Safaricom rolls out services in two Ethiopian cities

Safaricom has expanded its customer pilot to two additional cities – Bahir Dar and Adama in Ethiopia which marks the 4th and 5th cities in the country to test the network. This is following Safaricom’s launch in Ethiopia in August 2022 and after it has rolled out its network in

Africa

Yellow Card hits 1 million users across 16 African countries

Pan-African Cryptocurrency startup, Yellow Card has hit one million users across its 16 African countries – where it has launched its operations. Founded in 2016 by Chris Maurice, Justin Poiroux and Munachi Ogueke, the company aims to expand across the 54 countries on the continent to ensure seamlessness in the buying

Business

Touch And Pay To Make Continental Expansion For Cashless Implementation in Africa

Touch and Pay, Nigerian fintech, has revealed its intentions to expand its services to other African nations, a plan that will be executed with the Three Million US dollars (US$3 million) seed funding it recently raised. Touch and Pay was founded in 2019, and it has since developed a

Business

Nigerian Fintech, Carbon, Celebrates 10 Years Anniversary

One of Nigeria’s leading fintech companies, Carbon, has clocked Ten (10) years of operations in the industry, promising to cause an evolution banking sector, with a focus on customer experience, which will make banking more flexible and ultimately accessible to customers. Initially, Carbon was founded as a digital lending

Business

Founder's Toolkit; 5 Major Skills You Must Possess As A Startup Founder

Don’t we all love the attention that comes after success? being in the spotlight, the centre of attraction, the praises that come with it, euphoria bursting out from within. This is the kind of feeling everyone covets, be it in a grand manner or just within a close circle

Business

Kippa Earns CBN's PSS Licence To Operate As Super Agent

Nigeria’s Fintech Kippa, a platform that helps small businesses in Nigeria manage their financial books, and also functions as a payment platform, has received the Payment Solution Service Licence from the Central Bank of Nigeria, to function as a Super Agent. The Payment Solution Service Licence is under the

Business

In Nigeria, MultiChoice has no choice

Africa’s leading entertainment company, MultiChoice, is left with no choice in Nigeria than to switch to a pay-per-view (PPV) billing model against its monthly fixed subscription. This tussle has been between the Federal Government in the country and MultiChoice since 2020 when the entertainment company rebuffed the proposed pay-as-you-go

Business

Waya Digital Bank Launches Cross Boarder Money Transfer Services.

Kenyan fintech startup, Waya, has launched its latest service. The US-based startup made it known that it now offers cross borders transactions which are targeted at serving African immigrants. Now, through the Waya App, users can digitally create their own bank accounts, make money transfers to other Waya account holders

British International Investment

British International Investment, to Inject $100M into the Egyptian Startups Ecosystem

British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, has announced plans to invest $100 million in Egyptian startups throughout its current strategy. The DFI, formerly known as CDC Group, also reaffirmed its commitment to strengthening its partnership with Egypt and increasing climate finance to

BBNaija

Opeoluwa Filani becomes Nigeria’s first Showmax General Manager

South African video streaming platform, Showmax has appointed Opeoluwa Filani as its General Manager – to lead its operations in Nigeria. Showmax was launched in South Africa on August 19, 2015 as a subsidiary of MultiChoice Group, a satellite television that operates DStv and GOtv – known for prioritising local contents and

Africa

Mekan Games’ The President inspired by ex-American President

Kenyan Developer, Evans Kiragu and his team at Nairobi-based video gaming company, Mekan Games developed a game called The President in November 2021 that now has markets in the US. This was fulfilled during a training co-hosted by mobile games developing company, Crazylabs and play and earn South African company,