Tullow Oil plc has inked a significant deal, entering into a US$400 million five-year notes facility agreement with Glencore Energy UK Limited. This financial arrangement is a strategic move by Tullow, aiming to address the liability management of its senior notes maturing in March 2025. Key Points of the Agreement: This financial maneuver by Tullow … Read more
As Nigeria grapples with a challenging economic environment, the recent Economic Report for the Second Quarter of 2023 by the Central Bank of Nigeria (CBN) reveals a concerning trend—Nigerians have borrowed approximately N290 billion from banks in just three months. Consumer Credit Surge According to the report, consumer credit, encompassing personal and retail loans, surged … Read more
In a financial landscape where adaptation is key, Safaricom’s M-PESA remains the crown jewel, contributing 42.1% to the telco’s revenue in the six months ending September 2023. This marks an uptick from 39.3% during the same period in 2022, showcasing the enduring strength of mobile financial services. Profitability on the Rise Safaricom’s financial report for … Read more
In a strategic move, Kenya’s National Treasury has enlisted the expertise of Citi and Standard Bank as joint lead managers. Their mission: to explore potential international US$ capital markets funding and liability management options for Kenya. The Challenge Ahead: Tackling Eurobond Maturity With the specter of an intense squeeze on foreign exchange reserves in 2024, … Read more
In a bid to revolutionize group communication, WhatsApp is set to launch a new voice chat feature for large groups on its platform. This innovative addition is designed to bring a quieter and more seamless experience compared to traditional group calls. The Lowdown on the Feature: Unlike the disruptive group calls that ring every member, … Read more
Bolt Food has been making headlines recently. While the feature is closing shop in Nigeria and South Africa, the company is rolling out a new game-changer in Kenya – Scheduled Orders. What’s the Buzz? Bolt Food’s Scheduled Orders feature allows customers to pre-order meals, even when restaurants are fully booked, closed, or when couriers are … Read more
In a move aimed at bringing order and oversight to the burgeoning e-commerce and courier services sector, Ghana’s Ministry of Communications and Digitalisation has issued a directive impacting both new and existing operators. As of December 19, 2023, all e-commerce operators and their courier drivers are required to register with the Postal and Courier Services … Read more
In a surprising twist, Bolt Food, the food delivery service, is set to make its exit from the Nigerian market on December 7, 2023. The decision, citing “business reasons,” marks the end of an era for Bolt Food enthusiasts in the region. Let’s unpack the details behind this unexpected departure. The Bolt Food Farewell: A … Read more
Togolese startup Gozem is set to acquire Moneex, a thriving fintech in Benin, unlocking new avenues in the digital landscape. Let’s dive into the details of this game-changing acquisition! The Power Play: Gozem’s Acquisition of Moneex The financial dynamics of this acquisition are kept under wraps, adding an element of intrigue to the strategic move. … Read more
In the ever-evolving landscape of cloud computing, businesses are presented with a myriad of options to meet their specific needs. Two prominent models, Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), offer distinct advantages, catering to different aspects of the technology stack. In this exploration, we delve into the fundamental differences between … Read more