In a strategic move to navigate challenging economic conditions, Ghanaian startup mPharma has decided to downsize its workforce, resulting in the layoff of approximately 150 employees. This significant development reflects the company’s commitment to sustainability and its determination to continue serving its customers effectively. Here are the key details: Focusing on the Core: Mutti Pharmacy … Read more
In a remarkable stride towards extending connectivity to underserved regions, Vodafone and Project Kuiper, Amazon’s low Earth orbit satellite (LEO) communications initiative, have unveiled an exciting collaboration. This partnership envisions leveraging Project Kuiper’s satellite network prowess to expand 4G/5G services across Europe and Africa. Let’s dive into the details of this game-changing collaboration. Connecting the … Read more
In the month of August, we observed a concerted effort by certain financial stocks, such as Societe Generale, Standard Chartered, GCB Bank, and SIC, to counteract the prevailing negative returns that have cast a shadow over the equity sector this year. This collective endeavour resulted in a noteworthy reduction in losses for the GSE Financial … Read more
In the rapidly evolving landscape of work, one significant shift has been the rise of remote employment. While the notion of working from home may once have seemed elusive, it has become increasingly accessible, offering a myriad of opportunities for individuals to generate income without leaving the comfort of their own space. Freelancing: The Gateway … Read more
Britam Holdings Plc has announced remarkable financial results for the first half of 2023, reporting a substantial increase in net profit. The company’s net profit surged to KSh 1.6 billion, representing a remarkable 300% increase compared to KSh 377.9 million recorded in the same period in 2022. Exceptional Growth in Pre-Tax Profit Britam also witnessed … Read more
The African Development Bank has unveiled a groundbreaking initiative aimed at empowering young entrepreneurs across the continent. The $1 billion Youth Adapt initiative seeks to provide crucial seed financing and growth capital to small and medium-sized businesses led by Africa’s youth. Investing in Africa’s Youth-Led Businesses The African Development Bank, in partnership with the Global … Read more
In a significant move aimed at strengthening the nation’s stance against money laundering and terrorism financing, President William Ruto of Kenya has signed the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2023 into law. This pivotal legislative development is poised to address longstanding deficiencies in the country’s efforts to combat financial crimes. … Read more
In recent years, Africa has witnessed a burgeoning entrepreneurial spirit, with a focus on innovative business ideas that not only drive economic growth but also address critical societal needs. One such area that is gaining significant traction is Education and Skill Development. In this article, we will explore four African business ideas within this niche, … Read more
MTN Nigeria Communications PLC (MTN Nigeria) has successfully raised N125 billion through the issuance of Series 6 and 7 commercial paper notes. This significant move is part of the telecom giant’s ongoing strategy to diversify its financing options and reduce its average cost of debt. The company disclosed this development in an official statement signed … Read more
In a strategic move aimed at bolstering Ghana’s petroleum reserves, the Ghana National Petroleum Corporation (GNPC) has embarked on an exploratory mission in the vast inland sedimentary basin that encompasses approximately 40% of the country’s continental landmass. This ambitious endeavour, situated in the Voltaian basin, holds tremendous potential for replenishing Ghana’s petroleum resources and is … Read more