Kenya’s economic pulse reveals a marginal uptick in inflation, standing at 6.9% in October compared to the 6.8% recorded in September. The Kenya National Bureau of Statistics (KNBS) delves into the details, shedding light on the factors steering this nuanced economic trajectory. Food Takes the Spotlight The Food and Non-Alcoholic Beverages Index witnessed a 1.3% … Read more
Egyptian healthcare startup Almouneer has hit the jackpot, raising a whopping $3.6 million in a seed round led by Global Ventures. The funding extravaganza, which also featured investors like Wrightwood Investments, Proparco, and Digital Africa through the Bridge funds, is set to catapult Almouneer into new horizons, including the vibrant healthcare landscape of Nigeria. Chronic … Read more
Fitch Ratings just dropped a major bombshell: an upgrade in Ghana’s Long-Term Local-Currency Issuer Default Rating (IDR) from ‘RD’ to ‘CCC.’ Here’s the lowdown: Breaking Down the Upgrade The Eurobond Saga Continues Fiscal Symphony Global Aria Conclusion: Ghana’s Financial Overture While the journey to fiscal stability isn’t without its crescendos, Ghana’s strategic moves and partnerships … Read more
Exciting news on the digital front – Paystack, the powerhouse of payment solutions, is spreading its wings and touching down in Côte d’Ivoire, Egypt, and Rwanda. What’s Cooking with Paystack? Hold onto your e-wallets because Paystack is all set to collaborate with a stellar lineup of businesses, ushering in a new era of seamless transactions. … Read more
In a remarkable financial stride, Fidson Healthcare Plc has announced a profit before tax of N1.18 billion in Q3 2023, showcasing a notable year-on-year growth of 8.5% compared to the corresponding quarter in 2022. Revenue Surge and Stellar Growth The group’s Q3 2023 revenue stood impressively at N14.79 billion, reflecting an exceptional 33.9% year-on-year growth … Read more
In a groundbreaking move, Kenya proudly introduced its first local smartphone assembly plant, East Africa Device Assembly Kenya Limited (EADAK), in a ceremony graced by President William Ruto. Industry Collaboration for Affordability EADAK, a joint venture involving local Mobile Network Operators such as Safaricom Jamii Telecommunications and Chinese firm Shenzhen TeleOne Technology, emerged as a … Read more
The stock market journey for the year has been nothing short of a roller coaster, with returns fluctuating and financial stocks showcasing a remarkable recovery. As we approach the year-end, it’s crucial for investors to not only glance at the numbers but also understand the dynamics behind the figures. Here’s a breakdown of the stock … Read more
Mokgweetsi Masisi, the President of Botswana, just dropped some wisdom at ‘The Facets 2023’ conference, shedding light on how blockchain can be the superhero in ensuring transparent and ethical diamond sourcing.Botswana, boasting the world’s second-largest diamond mining industry, has faced its fair share of flak for human rights violations, exploitation, and environmental concerns. Enter blockchain, … Read more
In a significant move, Injaro Investment Advisors, a Ghanaian private capital fund manager, has just dropped a cool $2 million in Zeepay Ghana’s Series A.5 funding round. Why is this a big deal? Let’s break it down. The Lowdown on Zeepay Since kicking off in 2014, Zeepay has been all about making cross-border payments a … Read more
Oracle is set to play a pivotal role in Rwanda’s technological advancement by establishing cloud computing infrastructure in the country. According to a report by the New Times, this initiative is scheduled to commence in June 2024, marking a significant step in Rwanda’s journey towards becoming a tech-driven hub in Africa. Partnership Announcement The partnership … Read more