Details Emerge on the Controversial Exit In a surprising turn of events, OpenAI’s renowned CEO, Sam Altman, and its Chairman, Greg Brockman, bid farewell on Friday. The departure followed a review revealing Altman’s inconsistent communication, denting the board’s ability to fulfill its duties and subsequently eroding their confidence in his leadership. Altman’s Resignation: A Mysterious … Read more
In a groundbreaking move towards sustainable transportation, Ghana’s Finance Minister, Ken Ofori Atta, delivered exciting news during a budget reading to parliament on November 15th. The announcement? A significant import duty waiver on electric vehicles (EVs) designated for public transportation. Key Details: Import Duty Waiver for Public Transportation EVs: Duration of Import Duty Waiver: Local … 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
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 a celebration of its 5th edition, The Next Fintech Forum (NFF), the largest Fintech event in French-speaking Africa, is gearing up for an extraordinary gathering on November 16th and 17th at the Radisson Blu, Abidjan. This year’s theme, “Fintech and Commerce: How Fintech will shape commerce in Francophone Africa,” promises to unite key players … Read more
In a significant move into the decentralized finance (DeFi) space, cryptocurrency exchange Binance has introduced a Web3 wallet designed to interact with the growing DeFi ecosystem. The announcement was made during the Binance Blockchain Week conference in Istanbul. Competing Across 30 Blockchain Networks The newly unveiled Web3 wallet is set to operate seamlessly across 30 … Read more
Overview: FAO Warns of Below-Average Cereal Production The Food and Agriculture Organization (FAO) has raised concerns about below-average cereal production in the East African region. Erratic rainfall patterns and insecurity are cited as key factors affecting the 2023 main season cereal crops. Mixed Production Prospects in Northern Subregion In the northern parts of the subregion, … Read more