In a recent update, Tesla announced a revision to its 2023 capital expenditure, exceeding the initially set target of $7 billion to $9 billion. The electric vehicle giant attributed the increase in spending to its intensified production efforts across various factories and preparations for the launch of new models. Production Boost and Model Launches Tesla … Read more
Tel Aviv-based cybersecurity firm, Blockaid, has successfully raised $33 million in a recent Series A funding round, led by Ribbit Capital and Variant. The investment signals a growing emphasis on security within the crypto industry, notorious for scams and hacks that result in substantial financial losses and tarnish its reputation. Blockaid’s innovative security solution involves … Read more
FinTech Collaboration to Offer Convenient Credit Access for Purchases Lipa Later, a prominent Buy Now, Pay Later (BNPL) FinTech company, has announced a strategic partnership with Mastercard to enhance the adoption of Buy Now, Pay Later solutions across African markets. The collaboration aims to provide customers with convenient credit access, particularly for the purchase of … Read more
Finnish Telecom Equipment Manufacturer Plans Job Cuts and Cost Reductions Nokia has announced plans to cut up to 14,000 jobs as part of its strategy to reduce costs in the face of challenging market conditions. The company reported a 20% drop in third-quarter sales, primarily attributed to weaker demand for 5G equipment. The challenging market … Read more
Expansion Plans for Growth Markets Truecaller, the globally renowned caller ID platform, has announced the appointment of Ogochukwu Onwuzurike as the new Country Manager for Nigeria. This move is part of Truecaller’s strategic efforts to expand its operations in what it identifies as ‘growth markets,’ with a focus on Nigeria and Colombia. Chairman’s Welcome and … Read more
Strategic Investment for Economic Growth Absa Bank Kenya has unveiled a substantial commitment of Ksh100 billion over the next three years to bolster the development of Micro, Small, and Medium Enterprises (MSMEs) across diverse value chains. This funding initiative aims to fortify the resilience of the sector by providing seamless access to working capital, reinforcing … Read more
Safaricom has successfully completed the acquisition of M-Pesa Holding Limited from Vodafone International Holdings BV, securing the entire issued share capital. M-Pesa Holding’s Crucial Role M-Pesa Holding serves as the corporate trustee, holding M-Pesa customer funds under the M-Pesa trust arrangement, in compliance with the National Payment System Regulations of 2014. Smooth Transaction Process The … Read more
Embracing Transformation In the rapidly evolving landscape of Ghana’s retail banking, UBA stands at the forefront, strategically embracing change to simplify banking for customers. Commitment Amidst Challenges Peter Dery, Head-Retail at UBA Ghana, emphasizes the unwavering commitment to simplifying banking, even in the face of global challenges like the Russia-Ukraine war and the ongoing impact … Read more
SafeMoon: “Freedom of the Unbanked” Launched on the Binance Smart Chain (BNB) in March 2021, SafeMoon has gained attention for its mission to empower long-term holders and impose a 10% fee on sellers, with a portion of that fee benefiting existing holders. However, the journey of SafeMoon, while intriguing, has been marked by both endorsements … Read more
Leadership Transition: Paolo Ardoino Takes the Helm in December Tether, the powerhouse behind the renowned stablecoin $USDT, has announced Paolo Ardoino as its incoming CEO. Currently serving as the Chief Technology Officer (CTO) since 2017, Ardoino is set to steer the company in its new strategic direction from December 2023. Transition Dynamics: Jean-Louis van der … Read more