Updates on trends of various African markets, including stock markets, real estate, commodities, and more.
Ghana’s Vice President, Dr. Mahamudu Bawumia, has officially launched MyCredit Score, a groundbreaking credit scoring platform aimed at enhancing access to credit and promoting financial inclusion in the country. The new platform, available to both individuals and businesses, is designed to provide a standardized credit score to assist lenders in making more informed and responsible … Read more
In a move that aims to strengthen data security and privacy, Zimbabwe’s Minister of Information and Communications Technology (ICT), Hon. Tatenda Mavetera, has announced that all WhatsApp group administrators will soon be required to obtain a license from the Post and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ). The new rules, which are expected to be … Read more
Safaricom PLC, Kenya’s largest telecommunications company, reported a 17.7% drop in its half-year net profit to KSh 28.1 billion from KSh 34.1 billion. The earnings slump is attributed to a steep 106% depreciation of the Ethiopian Birr, which significantly impacted its fledgling Ethiopian operations. This adverse currency shift inflated Safaricom’s expenses in Ethiopia, costing the … Read more
Ghana recently launched 5G, the fifth generation of mobile network technology, marking a major step forward for connectivity in the country. Promising faster speeds, reduced latency, and the potential for new applications across industries, 5G is set to transform how Ghanaians connect and interact digitally. Here’s a look at what Ghanaians can expect with 5G, … Read more
In a significant move aimed at enhancing its strategic expansion into Francophone Africa, Centum Investment Company PLC (Ticker: CTUM) has announced a partnership with ITM Holdings, a prominent HR firm. This collaboration is expected to bolster Centum’s presence in Kenya’s rapidly growing Business Process Outsourcing (BPO) sector, as outlined in a joint statement from the … Read more
Kenya has taken a bold step to position itself as a prime destination for digital professionals and long-haul travellers with the introduction of two new permits: the Digital Nomad Work Permit and the Transit and Long Connection Travelers Electronic Travel Authorization (ETA). These initiatives are designed to enhance the visitor experience, making it easier for … Read more
In a pivotal move aimed at transforming Zambia’s financial ecosystem, Lupiya, the trailblazing fintech and neobank, has announced a strategic partnership with Network International. This collaboration marks the launch of a cutting-edge debit card, designed to offer more convenient, secure, and accessible financial services to the Zambian population. With its roots in serving underserved and … Read more
FlapKap, a leading fintech platform based in Abu Dhabi, has raised $34 million in new debt and equity funding to accelerate its mission of supporting small and medium enterprises (SMEs) in the Middle East and North Africa (MENA) region. This pre-Series A funding round was led by BECO Capital and included significant new investment from … Read more
South Africa’s second-largest grocery chain, SPAR (SPPJ.J), has announced the sale of its struggling Polish operations to local retailer Specjal for 185 million rand ($10 million). The move is part of SPAR’s ongoing strategy to streamline its European operations. Details of the Transaction SPAR will be required to recapitalize its Polish business, with an estimated … Read more
Ampersand, a pioneering Rwandan electric motorcycle startup, has secured a $2 million Series A extension as it prepares to expand its operations across other East African countries. This new round of funding was led by AHL Venture Partners and Everstrong Capital, reinforcing Ampersand’s mission to revolutionize transportation in Africa with sustainable energy solutions. Accelerating Growth … Read more