Discover how Nigerian logistics startup Renda secures $1.9 million in pre-seed funding to expand its reach into Kenya and other Nigerian cities, catering to the growing demand for efficient last-mile delivery and warehousing solutions in Africa's booming e-commerce sector.

Twiga Foods, the B2B e-commerce startup, welcomes Charles Ballard, former CEO of Jumia Kenya, as its new CEO, marking a significant transition following the departure of founder Peter Njonjo.

Dive into Swvl's remarkable turnaround story as the NASDAQ-listed mobility startup posts its first full-year net profit in 2023, signaling a shift from previous struggles to profitability, amidst strategic financial restructuring and expansion plans.

Join us as we unveil the latest game-changer in African travel! BuuPass, the pioneering travel booking platform, has just made a groundbreaking move by acquiring QuickBus, its prominent competitor in Nigeria and South Africa. This strategic deal promises to revolutionize travel across the continent, offering travelers unparalleled convenience and access to a wide array of destinations. Don't miss out on this exciting journey with BuuPass! 🚀🌍

Wasoko, the Kenyan e-commerce platform, refutes rumors of exiting Rwanda while intensifying recruitment efforts across East Africa. Despite recent exits from Zanzibar and pauses in Uganda and Zambia, Wasoko emphasizes its commitment to Rwanda, Tanzania, and Kenya. The platform is actively hiring for various roles in these regions, signaling a strategic expansion amidst operational adjustments.

Nigeria's fintech landscape sees a significant boost as OPay's valuation skyrockets, showcasing the country's growing digital payments adoption and the rise of innovative financial technology companies.

Can Mauritius replicate its financial services success in the tech industry? Discover how the island nation is fostering innovation and overcoming challenges to become Africa's next tech hub.

Kenya's parliament passes a landmark trade deal with the EU, offering duty-free access for Kenyan traders to the European market. The agreement underscores a commitment to labor rights, gender equality, and environmental sustainability, heralding a new era of economic cooperation between Kenya and the EU. 🇰🇪🤝🇪🇺

After a month-long dispute, Uber and Lagos State have come to an agreement on sharing real-time data, ending concerns over service disruption and driver discontent.

South Africa's financial conduct regulator has approved licenses for 75 crypto businesses, including major exchanges like Luno and VALR. This move signals a significant step in the country's acceptance of the crypto regulatory landscape.

Kenya's Ministry of Communications recommends regulatory measures for TikTok, emphasizing the importance of maintaining access to global social media platforms while addressing concerns of misuse and harmful content.

Canal+ escalates its bid for MultiChoice, acquiring a significant stake and navigating regulatory hurdles in South Africa.

Discover why MarketForce, a Y Combinator-backed startup, is closing its B2B e-commerce arm, RejaReja, and shifting gears to focus on social commerce with Chpter. Learn about the challenges faced in the competitive market and the startup's strategic pivot to adapt to changing dynamics in the industry.

Discover the latest on Equity Bank's $2.1M debit card fraud, with 19 arrests made in connection. This incident shines a light on the escalating issue of cybercrime in Kenya's financial landscape, prompting increased tech investments by local banks to combat fraud.

After a significant CEO departure, Cellulant, the African payments startup, reshuffles its leadership, focusing on profitability and operational excellence to navigate its growth across 13 African markets.

South Africa's leading used-car platform, WeBuyCars, is gearing up for its Johannesburg Stock Exchange (JSE) debut, targeting a valuation of $420 million. Discover the potential upsides and concerns surrounding this IPO frenzy! 📈🤔

Get ready, Zimbabwe! Online payments are set to return as banks adapt to the country's latest currency shift. Find out how this change will impact your digital transactions! 💳

Nigeria's musical scene thrives with passionate listeners like Deborah, but despite the country's hit-making prowess, South Africa dominates streaming profits. Find out how the industry juggles growth and challenges in the streaming era.

As Nigeria's Central Bank implements reforms and raises interest rates to combat inflation, foreign investors are flocking back to the country's government securities market. With an uptick in Foreign Portfolio Investments (FPIs) and growing investor confidence, Nigeria is becoming an attractive destination for investors seeking high yields amidst global economic uncertainties.

Huawei, the Chinese tech giant, is making a bold move in Nigeria's burgeoning cloud computing market by offering $10 million in cloud credits to 100 local startups. Will this strategic initiative help them carve out a significant share in the competitive landscape?

Discover how Roam and Mogo's partnership is driving the adoption of electric motorcycles in Kenya, revolutionizing the transportation landscape and boosting boda boda riders' earnings by 30%. 🏍️⚡ Don't miss out on the electrifying journey towards a greener and more sustainable future in East Africa! 🌱✨

Baobab Network, on its mission to empower African startups, acquires Reflector Marketing to bolster portfolio companies’ marketing strategies, signaling a shift towards comprehensive support beyond funding. 💼💡

Breaking news! Y Combinator, the renowned startup accelerator, has chosen Kenyan fintech Triply for its highly anticipated winter 2024 batch. Joining the elite ranks of African startups in the program, Triply aims to revolutionize payment solutions for small travel businesses in Africa, promising a game-changing approach to streamline operations and boost efficiency. 🚀

Uganda's annual inflation rate for March 2024 dips to 3.3%, staying under the Bank of Uganda's target, signaling stability in the economy. 📉💰

Discover how Patrice Motsepe's potential partnership with Canal+ in their bid for MultiChoice could impact the deal, navigating regulatory hurdles and potential conflicts of interest.

The Bank of Uganda's reclassification of Guaranty Trust Bank (GTBank) and two others from Tier I commercial banks to Tier II credit institutions signals a strategic shift in the Ugandan banking landscape.

Kenya Airways (KQ) has significantly reduced its net loss for the year ended December 31, 2023, marking the first operating profit in nearly seven years due to increased revenues from a 35% year-on-year growth in passenger traffic. Despite reporting a net loss of $171.9 million, down 47%, the airline's revenues improved by 53% to $1.35 billion, indicating a positive trajectory for the national carrier.

Discover the secrets behind Oui Capital's success in fostering African startups' growth, from early-stage investments to nurturing budding entrepreneurs.

Discover how MTN Group's strategic move to exit smaller West and Central African markets signals a shift towards high-growth opportunities, reshaping its operational focus and revenue strategy.

Discover how Access Holdings and Coronation Group are teaming up with M-Pesa to reshape the remittance landscape, connecting millions across East and West Africa.

As AI permeates freelance markets, Nigerian freelancers grapple with diminishing pay rates, resorting to AI tools to meet demands. The balance between integrity and income becomes precarious in an evolving landscape.

Congolese fintech companies are teaming up with the government to establish the Congolese Fintech Network (CFN), aiming to bolster financial inclusion and facilitate collaboration within the industry. Led by board member Joel Tshilumba, CFN seeks to foster effective communication channels with government representatives to promote mutual benefits and innovation.

Meta Platforms, the parent company of Facebook and Instagram, announces plans to enable Nigerian content creators to monetize their content through ads and other features, aiming to retain top creators on its platforms. This move follows the successful launch of a performance-based monetization program called "Ads on Reels" in select countries in 2023. Nick Clegg, Meta's President of Global Affairs, highlights the global reach of Nigerian creators and discusses upcoming monetization tools during a visit to Lagos, emphasizing the importance of African markets. Additionally, Clegg addresses connectivity challenges and Meta's efforts to enhance internet infrastructure resilience in Africa through subsea cables.

Discover how Telkom, South Africa's third-largest mobile network operator, is set to strengthen its core operations by selling off tower and mast assets worth $356 million, paving the way for an infrastructure-led business model aimed at shaping the country's digital future.

Access Bank's acquisition of National Bank of Kenya (NBK) marks a significant move in its East Africa expansion strategy, valued at around $100 million, pending regulatory approval. 📈💰

Nigeria's Access Bank strengthens its presence in Kenya with the acquisition of the National Bank of Kenya from KCB Group, marking its second Kenyan acquisition in recent years. 🌍💼

Pharmacy Marts secures a significant investment boost from Acasia Ventures, signaling a major milestone for the Egyptian health tech startup and its plans for expansion across African markets.

Discover how tappi's collaboration with MTN is revolutionizing online commerce for Ivorian businesses, empowering them to thrive in the digital era. With user-friendly tools and affordable subscriptions, tappi is bridging the gap for SMEs seeking to establish a credible online presence in Côte d’Ivoire. Join the movement towards digital empowerment and economic growth with tappi and MTN. 💪📈

GetEquity, backed by TechStars, shifts its focus to include bonds and fixed-income assets amidst changing market dynamics, aiming to cater to retail investors seeking safer investment options in uncertain times.

South Africa's telecom giant, Vodacom, shocks markets with plans to trim 80 jobs, impacting every level of its operations. 😱

With the proliferation of eight subsea fibre optic cables in Nigeria, investors are pouring funds into hyperscale data centre projects to meet the surging demand for data storage solutions. 🌐💰

Nigerian neobank Kuda, backed by Target Global, is expanding its reach globally with newly acquired payment licenses in Tanzania and Canada. These licenses will enable Kuda to offer remittance and multi-currency wallet services to Africans in both countries, tapping into the growing market of diaspora communities. Kuda's move puts it in direct competition with other neobanks targeting Africans abroad, such as LemFi and Nala.

Nigeria's Securities and Exchange Commission (SEC) proposes a substantial increase in the minimum paid-up capital for virtual asset service providers (VASPs) to ₦1 billion, aiming to reshape the crypto landscape.

Chipper Cash, a prominent fintech company, announces layoffs and salary cuts after suspending its services in the US, highlighting a strategic shift towards focusing on its African markets.

Discover the behind-the-scenes restructuring at Wasoko as it navigates mergers and market dynamics, affecting operations in Zanzibar, Uganda, and Zambia.

Despite economic challenges fueled by hyperinflation and sanctions, Zimbabwean startups are resilient and forging ahead. Learn how they navigate funding constraints, access markets beyond borders, and embrace alternative financial technologies.

Interswitch, backed by Visa, embarks on a new phase with its merger with M-Kudi, eyeing a payment service bank (PSB) license from Nigeria's Central Bank. But what does this mean for the fintech giant and the future of banking in Nigeria?

Amid a contentious dispute with tower partner American Towers Corporation (ATC), Telkom Kenya's subscriber base takes a significant hit, shedding 800,000 customers in just three months. This decline underscores the critical role of tower infrastructure and the challenges faced by telcos in managing such partnerships, shedding light on the complexities of the telecommunications industry in Kenya.

Airtel Africa is contemplating an initial public offering (IPO) for its mobile money unit, potentially valuing it at over $4 billion, amidst discussions in early stages, reports Bloomberg. Despite a significant profit drop in 2023, Airtel Money, the telco's financial arm, saw substantial revenue growth, signaling investor interest in fintech ventures.

Dive into the synergy of finance and telecom as Interswitch, backed by Visa, embarks on a transformative journey with a $1 million MVNO license. Unleashing possibilities for underserved areas and catering to overlooked consumer segments, Interswitch aims to revolutionize Nigeria's telecom sector, promising affordable 4G/5G services and innovative communication solutions.

Discover how Chams Holding Company's CEO, Mayowa Olaniyan, navigated the aftermath of a $100 million loss from a government project, leading the company to a surge in share prices. Now, with a renewed focus on consumer-centric projects, Chams is set to capitalize on the burgeoning mobile money and cross-border payments sectors, emphasizing innovation and expansion across its financial service subsidiaries.

🌐 GoLemon's Vision: Transforming the grocery delivery landscape by managing inventory and fulfillment centers, GoLemon optimizes costs, targeting customers with large, repeat orders. With a robust team leveraging experience from Supermart and Lagos supermarkets, GoLemon enters the market poised to weather challenges and build a formidable business.

In a bid to protect borrowers and curb predatory lending, Kenya's Central Bank has granted licenses to 17 new digital credit providers, including Autochek. This move comes after a comprehensive crackdown that saw the total number reduced to 51, emphasizing a commitment to consumer protection and ethical practices.

Dive into the captivating journey of how Huawei, since its 1999 debut in Nigeria, strategically maneuvered to become the nation's top telecom vendor and enterprise behemoth. Unveil the success factors, ambitious projects, and a touch of controversy surrounding Huawei's ascent in the heart of Africa.

Discover how Africa's leading fintech, Flutterwave, is reshaping its focus by closing the chapter on Barter, the virtual card service. 🔄🔒 Dive into the reasons behind this strategic decision and the company's intensified commitment to enterprise and remittance services, aiming for even greater financial impact in the market. 💼💸

MTN Nigeria bounces back, reclaiming over half of the ₦22 billion lost in a Mobile Money glitch, showcasing the challenges of fraud in Nigeria's financial sector. Despite setbacks, CEO Toriola highlights a surge in monthly active users to 5.3 million, driven by a growing ecosystem of agents and merchants.

Explore the $45 million vision of Verod-Kepple Africa Ventures (VKAV), backed by industry veterans Ory Okolloh, Ryosuke Yamawaki, and Satoshi Shinada. With decades of African operational and investment experience, VKAV is shifting focus to growth-stage startups, bringing hands-on support, a unique lens on scalability, and a commitment to diverse exits.

Discover how TAP's Cowry cards have transformed Lagos commuting, offering seamless payments for buses and trains. With 3.8 million users making 500,000 daily trip payments, the contactless technology enhances travel convenience while reducing corruption in Nigeria's transport system. 🌍💸

In a significant development, Binance, the world's largest cryptocurrency exchange, is set to discontinue all its Naira services starting March 8. Amidst ongoing regulatory challenges in Nigeria, the exchange will cease Naira deposits after March 5, with withdrawals ending on March 8. Here's a quick rundown of the key details and implications for users.

Ghana's Central Bank takes decisive action, suspending the foreign exchange licenses of Guaranty Trust Bank and FBN Bank for one month, citing various regulatory breaches. The move underscores the country's commitment to enforcing forex market regulations and ensuring financial institutions adhere to strict guidelines.

As 4G and 5G adoption soars, MTN and Airtel lead the charge in Nigeria's telecom revolution, with billions invested in network infrastructure. Discover how the nation's smartphone landscape is transforming and why users are embracing faster connectivity despite economic challenges. 🌐📈

Bolt, the global ride-hailing giant, has launched in Cairo, challenging Uber's dominance with a bold pricing strategy. Offering a 15% commission for drivers (compared to Uber's 22-33%) and a 50% discount for riders in the first six months, Bolt aims to boost demand and provide a more economical alternative in the Egyptian market. This move follows Bolt's recent expansion in Southern Africa and a commitment to invest over $500 million in the continent by the end of 2024.

Nigerian fintech startup, Brass, cites a challenging funding environment and a surge in customers for persistent withdrawal delays, highlighting the broader struggles faced by fintechs. CEO Sola Akindolu acknowledges the costly nature of running a fintech and discusses the need for substantial capital amid ongoing funding challenges.

Discover how Malawi, once underestimated in tech, is making strides with initiatives like hosting the 2024 Africa Smart Cities Congress and attracting global players like Flutterwave. Government policies, international support, and grassroots efforts are reshaping the narrative, paving the way for a brighter future in innovation.

Get ready for a ride-hailing showdown in Botswana as inDrive, the California-based platform, implements a 10% commission for drivers just as Bolt enters the scene. This strategic move aims to fuel further investments in Botswana, marking a shift from inDrive's commission-free model over the past five years. The battle for urban mobility dominance is heating up in this key African market.

MTN Nigeria, a telecom giant, experiences its first annual loss in three years, amounting to ₦137 billion in 2023. The impact of Naira devaluation and increased business costs, notably tower lease expenses linked to the US dollar, played a significant role in the financial downturn. Despite challenges, the company eyes expansion in non-core services, emphasizing 4G and 5G growth, while engaging with regulators to resolve disputes.

As inflation and landlord price hikes squeeze Spleet, the proptech startup that garnered $2.6 million in 2022 faces tough decisions. Monthly rental disruptors are feeling the heat in Nigeria's real estate market, with layoffs looming and macroeconomic conditions taking a toll. Can proptech weather the storm?

Amid renewed scrutiny from the Central Bank of Nigeria (CBN), several Nigerian crypto platforms are suspending the purchase and sale of USDT and USDC stablecoins with Naira. The move comes after CBN Governor Olayemi Cardoso claimed that $26 billion had passed through Binance Nigeria from unidentified sources. Crypto exchanges face increasing regulatory challenges, triggering cautious responses and even arrests, echoing concerns reminiscent of past regulatory uncertainties.

Estonian ride-hailing giant, Bolt, makes its mark in Botswana, entering a market dominated by inDrive. In a strategic move, Bolt exempts drivers from commissions for the initial six months, aiming to foster high demand through competitive pricing. With features focused on safety, Bolt navigates the challenging Botswana landscape, aiming to revolutionize the ride-hailing experience.

As the Naira depreciates, Nigerian startups grapple with soaring bills for global cloud services, pushing some entrepreneurs to explore local alternatives. With the dominance of major players like AWS, Microsoft Azure, and Google Cloud, startups face the challenge of balancing cost concerns and infrastructure capabilities. Are homegrown cloud providers equipped to rescue startups from escalating cloud expenses?

🌍 South Africa aims to become a global hub for digital nomads, publishing draft regulations for a digital nomad visa. The proposed visa targets remote workers earning at least R1 million (~$53,000) annually. However, regulatory hurdles and amendments to existing laws pose challenges for the realization of this ambitious plan. Share your thoughts on shaping South Africa's digital nomad visa!

In the dynamic landscape of African fintech, Miden emerges as a game-changer by slashing the card issuance time from months to weeks, aiming to drive financial inclusion. With innovative solutions and rapid growth, this Y Combinator-backed startup navigates the complexities of the virtual card space.

As the Nigerian Naira hits record lows, Binance, the world's largest cryptocurrency exchange, implements restrictions on the USDT/NGN trading pair, aiming to combat fraud and manipulation. This move sparks concerns among users and prompts a shift to alternative peer-to-peer platforms, highlighting the challenges faced by crypto traders in Nigeria amidst economic uncertainties.

Discover how Buy-Now-Pay-Later (BNPL) startups like CDCare and CredPal in Nigeria are adapting to the dual effects of rising inflation and changing consumer behaviors. From surging demand for installment payments due to reduced purchasing power to the cautious optimism in the face of economic uncertainties, these startups are reshaping their strategies to thrive amidst challenges. 🇳🇬💳

Investors cheer as Jumia's Q4 2023 financial report reveals a 41.18% surge in stock value, even as the Africa-focused e-commerce giant trims operating losses to the lowest in four years. With strategic changes and a focus on profitability, Jumia aims to build a leaner, more agile company in the face of challenging macroeconomic conditions across its African markets.

Amid strategic changes and its recent exit from the food delivery business, Jumia, Africa's leading e-commerce platform, undertakes employee layoffs in Kenya and other markets. The move aims to optimize capital and pursue cost efficiencies as the company continues its path to profitability.

Despite slashing operating losses and implementing strategic changes, Jumia faces questions on profitability in Q4 2023. The company's shift includes shutting down Jumia Food, staff reductions, and a focus on higher-ticket items, showcasing impressive cost discipline under CEO Francis Dufay. 🌍🛒

Discover insights from a new study by Qubit Hub, revealing that Africa should prioritize strengthening its AI ecosystem before rushing into regulations. The study emphasizes the need for improved data infrastructure, talent development, and market-focused AI solutions for sustainable growth.

Amidst soaring inflation at 29.90%, Nigerians grapple with surging food costs, prompting economic concerns. As the Central Bank considers drastic measures, including potential interest rate hikes, the nation awaits solutions to ease the financial strain on households.

Firstmonie, the agency banking arm of First Bank of Nigeria, dominates the country's agency banking market, processing over ₦1.1 trillion in transactions in 2023, surpassing the combined total of major banks. Fintech players, including Moniepoint and Opay, are gaining momentum, outpacing traditional bank-led services, driven by agility, accessibility, and innovations in response to the 2023 cash crunch.

President Julius Maada Bio envisions Sierra Leone as the "Estonia of Africa," investing in tech to supply talent across the continent. With a strategic focus on building a tech and innovation city, the country aims to create 500,000 jobs by 2028 and position digital skills as an exportable commodity. As Sierra Leone embraces cross-border collaboration and draws inspiration from successful models, it sets the stage for a collaborative tech future in Africa.

Discover how Artificial Intelligence is transforming African agriculture, addressing challenges like inefficient farming methods and low investment. From precision farming to success stories like India's AI-driven initiative, explore how AI empowers farmers and propels Africa towards an agricultural revolution! 🌾🤖

Africa's fintech leader, Flutterwave, silently invests $3 million in PiggyTech, the powerhouse behind PiggyVest, marking a strategic partnership for future equity. This move amplifies PiggyVest's drive for external funding amidst valuation disagreements and economic challenges. 🚀💸

Discover Ethiopia's economic turmoil as inflation hits a staggering 28.7%, posing formidable challenges for the National Bank of Ethiopia. Uncover the factors behind this surge, from internal conflicts to global commodity price spikes, as the nation strives to curb inflation below 20% by June 2024.

Employees at Wasoko, a prominent Kenyan e-commerce platform, claim the company concealed its merger with Egypt's MaxAB for over six months, leading to unexpected layoffs. The fallout has resulted in a legal battle with accusations of unfair dismissals and disputes over severance packages. As the case unfolds, Wasoko's reputation and handling of the situation are under scrutiny.

Discover how Hydrogen, the payments arm of Access Corporation, aims to revolutionize Africa's payment ecosystem, processing a staggering 15 trillion Naira in transactions within its first significant year. With a robust infrastructure focus, Hydrogen competes with key players, envisioning itself as the powerhouse behind one in every three transactions across the continent.

Ghanaian tech talent platform, Remoteli, scores big with £250,000 in pre-seed funding from professional footballer Jeremie Frimpong. As the startup aims to connect African tech talents with remote opportunities, Frimpong's investment aligns with a growing trend of sports stars backing tech innovation, aiming to make a difference both on and off the field.

Senegal faces heightened instability as the government suspends mobile internet for the third time in nine months, citing the spread of "hateful messages" on social media. The move follows protests sparked by the postponement of the Presidential elections for six months, contributing to growing political uncertainty in the historically stable democracy.

Amidst facing fraud charges and a financial storm, Tingo Mobile leaves 40 contractors in distress, laying them off without paying December and January salaries. The startup, embroiled in a scandal, redirects blame to outsourcing company HR Indexx, leaving affected employees in limbo. The unfolding drama raises concerns about the fate of workers and the company's credibility amidst ongoing legal scrutiny. 🤯💔

Safaricom, Kenya's leading telco, takes a bold security step by discontinuing M-PESA transfers to unregistered users, impacting Airtel Money and T-Kash users. The move is speculated to enhance traceability and address concerns over unregistered SIM cards in mobile money transactions. 🚫💳

In a landmark decision, Flutterwave, the fintech giant, triumphs as a Kenyan court unfreezes $3 million previously withheld, ending a legal dispute that began in 2022. With the funds restored, Flutterwave now gears up for new business ventures, including obtaining a payments and remittance license in Kenya, further solidifying its presence in key African markets.

Africa's leading licensed blockchain payment infrastructure, Zone, gears up to launch a groundbreaking remittance product in 2025, aiming to tackle distribution, liquidity, and licensing challenges faced by remittance providers and IMTOs. CEO Obi Emetarom reveals the company's strategic approach, leveraging its existing network and licenses, while envisioning a future shaped by regulated DeFi.

Exclusive insider information reveals that Kippa, initially a fintech startup supported by Target Global, is making a strategic shift into the EdTech landscape. Unveiling a new platform, Kippa aims to empower users to effortlessly create and deliver online courses, embracing innovative AI-driven learning formats. This pivot comes in the wake of challenges in Kippa's financial management endeavors, including a significant layoff in 2023, indicating a bold move towards educational technology.

Discover how Pade, a HR management startup, made waves by paying ₦11 billion in salaries for over 6,500 employees in 2023. With significant growth driven by key clients like Flutterwave, Pade's innovative solutions and plans for employee empowerment position it for continued success in 2024 and expansion into the East African market. 💼💸🚀

Discover the impact of Nigeria's population figure adjustment on broadband penetration, revealing challenges in meeting the 2025 target. 📊🇳🇬

Estonian e-taxi giant, Bolt, drives into Harare, Zimbabwe, offering a unique incentive by waiving driver commissions for a minimum of six months. This strategic move marks Bolt's twelfth country entry, focusing on fostering driver earnings and competitive pricing. As part of its broader African investment plan, Bolt aims to redefine ride-hailing safety standards, reflecting its commitment to both riders and drivers. 🚗💨

Nigeria's Central Bank, in collaboration with AMMBAN, is set to enhance PoS terminals with a fraud-flagging feature, requiring specific KYC details for transactions. The move aims to combat fraud at agent locations, with launch expectations by the end of Q1 2024.

Founder Tosin Osibodu exits Chaka, the Nigerian stock investment startup, following its merger with Rise. Now part of Alpaca, Osibodu is set to contribute to the global expansion of the API-focused trading platform. The move sparks speculation about the future integration of Chaka and RiseVest under Rise's sole CEO, Eke Urum.

Moniepoint, Nigeria's payment giant, had a phenomenal 2023, processing a staggering 5.2 billion transactions valued at over $150 billion, marking a remarkable 205% increase from the previous year. As it continues to dominate the Nigerian market, Moniepoint's expansion into Kenya hints at even greater strides in the fintech landscape. 📈💳

Access HoldCo, the parent company of Access Bank, is on the verge of regulatory approval for acquiring ARM Pensions, positioning itself as a major player in Nigeria's $34.9 billion pension market. This move follows Access HoldCo's strategic expansions, including the integration of Sigma Pension and First Guarantee Pension, potentially challenging Stanbic IBTC for the top spot. The acquisition faces scrutiny from both NGX and PenCom, ensuring financial stability and safeguarding pensioners' interests.

South African e-commerce giant Takealot announces Frederik Zietsman as its new CEO amid Amazon's impending market entry. As the e-commerce landscape heats up, the reshuffle aims to fortify Takealot's leadership to counter the global e-commerce giant.

Edtech startup AltSchool Africa, known as the African counterpart to the US coding bootcamp BloomTech, extends its reach to Kenya, its second-largest revenue-generating market. The move aims to provide hands-on support to Kenyan learners and streamline local payment processes, marking a strategic expansion for the platform.

As M-PESA experiences a service disruption in Kenya, PesaLink, a real-time fund transfer platform, is set to launch a merchant payments option, providing an alternative for users frustrated by the outage. Amidst customer demands for enhanced features, PesaLink aims to rival M-PESA's offerings with a separate merchant payment service, promising an innovative and independent ecosystem.

In a significant development, Twiga Foods and Incentro have amicably settled their $261,000 debt dispute, with plans to request Google to cancel the original contract. The resolution comes after negotiations led by Twiga's CFO, Zuber Momoniat, in the wake of leadership changes at Twiga. The case sheds light on the challenges African companies face in managing long-term contracts with global cloud providers amid currency fluctuations.

As Botswana grapples with a soaring youth unemployment rate of over 44%, young Batswana are leveraging online platforms like Preply and Cambly to teach English to Asian students, tapping into the vast market of almost 400 million Chinese citizens learning English. With a low barrier to entry, these online tutoring opportunities provide an alternative source of income, enabling unemployed youth to earn between $3 and $7 per hour while facing challenges like occasional racism and limited internet access.

In the wake of Nigeria's Central Bank lifting the two-year ban on crypto-related bank accounts, crypto exchanges Quidax and Luno, among others, are racing to secure licences from the Security Exchange Commission (SEC). This marks a pivotal shift for the crypto industry in Nigeria, indicating a strategic move by startups to navigate regulatory changes.

Safaricom's M-PESA service faces scrutiny as a prolonged outage leaves users frustrated. Lack of communication from the telecom giant sparks social media uproar, questioning the reliability of Kenya's leading mobile money platform. Rivals struggle to compete, highlighting the dominance of M-PESA despite periodic service disruptions.

Facing challenges in consumer understanding, Zilla, the Buy-Now-Pay-Later (BNPL) startup, hits pause on its BNPL services. Instead, it's steering towards success with Zillawire, a robust cross-border payment product, overcoming hurdles in the evolving FinTech landscape. 🔄💼

🌍 The largest-ever startup fund in Africa, Timbuktoo, launches with a $1 billion commitment over 10 years to empower 1000 tech startups across the continent. Led by the United Nations Development Programme (UNDP) and eight African countries, this initiative aims to catalyze domestic capital, making venture investments riskier and more attractive. 💡💰

Kenya's leading telco, Safaricom, avoids penalties despite a third consecutive year of declining service quality, as it meets the minimum compliance threshold of 80%, according to the Communications Authority. While Airtel and Telkom face fines for not meeting QoS standards, Safaricom's overall performance stands at 87.60%, securing its position. The regulator has collected over KES 500 million in fines over the past five years for QoS violations.

Nigeria's Access Corporation, the parent company of Access Bank, is set to launch Oxygen X, a standalone digital lending subsidiary, expanding its reach beyond traditional banking customers. With approval from the Central Bank, Oxygen X aims to compete with existing digital lenders, serving a broader market of digital-first consumers. This strategic move aligns with Access Corporation's ambitious plans for global expansion and diversification in the fintech space.

Iyin Aboyeji, founder of VC firm Future Africa, and Mia von Koschitzky-Kimani are spearheading Accelerate Africa, a game-changing accelerator fueled by a $750,000 USAID grant. With the goal of becoming Africa's answer to Y Combinator, they plan to nurture ten pre-seed and seed-stage startups across the continent, providing invaluable mentorship and guidance.

South African neobank TymeBank surprises the market by bouncing back from a significant loss, revealing a profitable December 2023 just six months after posting a $45 million deficit. With strategic partnerships, a growing lending portfolio, and backing from venture capitalists, TymeBank showcases a remarkable financial turnaround in the competitive digital banking landscape.

Discover the future of African innovation! 🌍 Ten dynamic startups, spanning fintech, agritech, Web3, and more, will pitch groundbreaking ideas for funding at the Africa Tech Summit in Nairobi. As Africa charts a new path in 2024, these startups aim to secure investments ranging from $500,000 to $15 million, driving growth in diverse sectors. 🚀💡

General Atlantic, a New York-based growth equity firm, is set to acquire Actis, a London-based energy infrastructure investor with a significant presence in Africa, in a deal exceeding $12.5 billion. The partnership aims to deepen investments in sustainable infrastructure, creating a global platform with $96 billion in assets under management (AUM). Actis, known for its investments in African energy projects, will become the sustainable infrastructure arm within General Atlantic's investment platform, maintaining independence over its investment decisions.

Canza Finance, the Web3 neobank, has raised $2.3 million in a strategic round led by Polychain Capital, aiming to simplify cross-border payments for African startups. With plans to acquire licenses across the continent and introduce its innovative FX DeFi platform, Baki, Canza aims to empower businesses with faster, cost-effective international transactions. The startup, having raised a total of $5.5 million, envisions providing financial services typically reserved for large corporations to businesses in markets like Nigeria, Cameroon, and Senegal.

Nigeria's Kippa, a finance startup, faces turmoil as internal fraud connected to its agency banking product, Kippa Pay, results in a loss of ₦30 million. The fraud, discovered in November, follows the recent shutdown of Kippa Pay and layoffs of 40 employees. Despite promises of severance pay, the affected workers are left in uncertainty.

Dive into the streaming revolution as MultiChoice reveals big plans for the Showmax 2.0 relaunch, set to debut in February! With 1,300 hours of original African content and a groundbreaking standalone Premier League mobile streaming plan, Showmax is on a mission to dominate the African streaming landscape. Can it fulfill MultiChoice's ambitious goal of reaching $1 billion in revenue and acquiring 50 million subscribers within the next five years?

Discover how Africa-focused venture capitalists are turning to secondary markets for liquidity, providing early investors and startup employees with profitable exit options amid a challenging funding landscape. 🚀💰

🚀 The Nigerian Exchange Group (NGX) is optimistic about tech startups listing on its specialized technology board this year, thanks to imminent regulatory changes. With the NGX tech board rules approved in 2022, discussions are underway with startups considering accessing local capital, potentially marking a pivotal moment for the Nigerian tech ecosystem.

In a surprising move, Woven Finance, a licensed fintech backed by Coronation Group, announces its shutdown, citing market dynamics. The company, fully licensed by the Central Bank of Nigeria, will transfer its services to Hydrogen, a fintech under Access Bank's umbrella, in a bid to navigate the evolving fintech landscape.

🚀 Nigeria's banking giants—First Bank, Access Bank, UBA, GT Bank, and Zenith Bank—have joined the exclusive ₦1 Trillion market cap club, with a remarkable ₦6.1 trillion gain fueled by the NGX's bullish run. This surge in the banking index signals a flourishing market, tempting even tech startups to consider stock listings.

Amidst a series of shake-ups at Twiga Foods, the departure of Daniel Ngungi, Head of Legal and Administration, unfolds shortly after founder Peter Njonjo's resignation. The company faces challenges with debt resolution and legal battles, marking a turbulent period for the once-prominent food distribution platform.

Discover the latest developments as Tiger Global-backed Wasoko and Egyptian counterpart MaxAB reveal plans to cut 10% of their combined workforce during the integration phase of their anticipated merger. CEOs Daniel Yu and Belal El Merghabel are steering the transition, ensuring affected employees receive severance packages, and even allowing them to retain stock options. Stay tuned for insights into this strategic move shaping the future of e-commerce leadership in Egypt and East Africa.

In a surprising twist, mobility startup Swvl has reported its first net profit in H1 2023, marking a significant rebound from previous financial struggles. 🚀 Despite a 49% revenue decline, the company's strategic moves, including layoffs and business focus realignment, have propelled it to profitability. 📈 Discover how Swvl's shift to a B2B model and concentrated market approach led to this remarkable financial reversal.

🚀 Nigerian equities kick off 2024 with a bang, marking three consecutive years of stellar New Year performances. With the All Share Index hitting an all-time high and banking stocks leading the charge, early investors position for another robust year, fueled by last year's impressive 45.90% growth. 🌍💹

Discover the inside story of Cellulant's recent upheavals – a series of layoffs, high-profile exits, and the departure of CEO Akshay Grover. The fintech firm's restructuring aims for operational efficiency and a leaner product-focused strategy, following challenges in securing the anticipated $100 million Series D funding.

In an unexpected move, Akshay Grover, CEO of African payment giant Cellulant, steps down after less than three years, citing personal reasons. The company reassures its commitment to sustained growth under the interim leadership of Peter O'Toole, the current CFO, with further leadership additions on the horizon.

🚀 Cameroonian fintech Koree raises $200,000 in a pre-seed round to revolutionize digital savings and introduce cashback rewards. Backed by Ecobank and other investors, Koree aims to transform cash-based economies across Africa. Stay tuned for its innovative solutions reshaping the fintech landscape! 💰🌍

Dive into the pulse of African tech as we unravel the transformative trends shaping 2024! From funding shifts to AI dominance and regional recalibrations, get ready for a dynamic ride through the continent's tech landscape.

🌟 Dive into 2023's Southern Africa tech journey! Uncover the triumphs of fund launches, startups addressing critical issues, and ecosystem explorations.

Explore the dynamic landscape of Nigeria's tech scene in 2023, marked by regulatory victories and hurdles. From groundbreaking open banking regulations to the appointment of tech influencer Bosun Tijani as a minister, discover the highs and lows shaping the future of Nigeria's tech ecosystem. What's next as the industry navigates opportunities and uncertainties in the coming year?

Two major players in Africa's B2B e-commerce, MaxAB and Wasoko, are gearing up for a groundbreaking merger, positioning themselves to lead the continent's market. With talks in the early stages, the deal is anticipated to be finalized in Q1 2024, creating a united force with unparalleled financial strength and market dominance. 🌐💪🏾

Amid scenes of frustrated customers at ATMs and cash-strapped businesses, Nigeria grapples with a resurgence of a cash crunch, triggering chaos reminiscent of the earlier currency redesign woes. But what's driving this latest financial turmoil, and who bears the blame?

Ride-hailing drivers in Ghana are opposing a proposed vehicle income tax set to commence on January 1, 2024, arguing that it would adversely affect their earnings. The Ghana Revenue Authority's plan requires commercial vehicle owners to pay income tax quarterly, a move met with dissatisfaction by drivers who believe the tax burden should rest on ride-hailing companies rather than individual drivers. As tensions rise, the drivers question the impact on their already strained incomes, adding another layer of financial pressure.

YC-backed Nigerian fintech, Cowrywise, clarifies recent employee layoffs, asserting a connection to performance reviews amid strategic shifts. The move raises eyebrows as affected staff receive unusual exit packages in the face of evolving business directions.

🌍 Discover the story behind Aduna Capital's $20 million fund, set to revolutionize the tech ecosystem in Northern Nigeria. 💡 Learn how founders Surayyah Ahmad and Sanusi Ismail plan to unlock untapped opportunities, focusing on early-stage tech innovation.

In the heart of Lusaka, Yango and GO, the prominent ride-hailing giants, face a driver uprising. Complaints range from dwindling earnings to app glitches, sparking a battle between drivers trying to make ends meet and platforms prioritizing customer acquisition. 🤔 Explore the struggles of Lusaka's ride-hailing drivers in a quest for fair working conditions.

Explore the intricate landscape of venture capital in Africa, dissecting investment trends, and unraveling the complex web of factors shaping the ecosystem. Will Stevens' insights and the nuances behind U.S. involvement in African startups reveal a compelling narrative for both investors and founders. Discover the driving forces, potential pitfalls, and the key to unlocking the full potential of the African VC scene. 🌍💰

Marketforce CEO, Tesh Mbaabu, challenges Pezesha's move to liquidate assets over an unpaid debt, deeming it premature. Despite ongoing debt restructuring discussions, Pezesha opted for legal action. The dispute revolves around a partnership debt related to inventory financing, adding strain to Marketforce's recent funding challenges.

🚀M-PESA, the trailblazing mobile money platform with 51 million users in Kenya, is stepping into the physical payment realm through a groundbreaking collaboration with Visa. The introduction of physical debit cards marks a pivotal move beyond virtual transactions, aiming to penetrate the cash-centric retail sector and redefine the country's financial landscape.

Discover the streaming preferences in Africa! South Africa leads with its series "Unseen" topping the charts, watched for over 60 million hours, while Nigeria claims spots with "Shanty Town" and "Far From Home." Explore the dynamic streaming landscape on Netflix in the continent. 📺🌐

Nigeria grapples with an unprecedented 11th consecutive monthly rise in inflation, hitting a staggering 28.20%. November witnessed a surge in food prices by 32.84%, intensifying the economic challenges for households. As pressure mounts on the Central Bank, analysts emphasize the need for strategic measures to boost local production and curb the impact of inflation.

As concerns over rising financial fraud in Nigeria escalate, OPay, a prominent fintech company, is under scrutiny for its lax registration processes, allowing potential bad actors to exploit vulnerabilities. Recent investigations by TechCabal reveal weaknesses in OPay's identity verification system, posing risks to users and the financial ecosystem. Will the company address these concerns amid increasing calls for stricter know-your-customer (KYC) measures?

Techstars, in collaboration with ARM Labs, reveals its second cohort of 12 innovative startups in Lagos, offering a diverse range of sectors from fintech to renewable energy. With a funding injection of $120,000 per startup, plus extensive support, mentoring, and access to a network of experts, these startups are set to revolutionize Africa's tech landscape.

Flutterwave, Africa's leading fintech company, reinforces its executive team with five strategic appointments in risk, compliance, and global expansion, signaling resilience after recent challenges. The new hires, including top industry veterans, position Flutterwave for potential IPO success while addressing legal issues and building confidence in its growth trajectory.

African technology ministers unite at the African Startup Conference in Algiers, exploring the potential of startup visas to fuel innovation and combat brain drain. Inspired by successful models in Canada, the UK, and the Netherlands, the ministers aim to create a borderless Africa, fostering mobility for young entrepreneurs.

Africa's fintech leader, Chipper Cash, grapples with internal adjustments, cutting jobs and reducing salaries, signaling a shift in strategy. How will these changes impact the unicorn's standing in the fiercely competitive market, and what does it mean for its ambitious growth plans? 📉💰

Nigerian fintech giants, including Flutterwave and Paystack, rush to reassure users as a memo from NIBSS sparks misinformation about regulatory measures against unlicensed deposit acceptance. The Central Bank's directive targets companies operating without proper licenses, potentially leading to a purge of non-compliant services.

Nigerian fintech Kippa has smoothly handed over the operations of its agency banking product, KippaPay, to Bloc, a rising Nigerian fintech venturing into banking services. Despite Kippa's initial shutdown in October due to increased costs, the move ensures continuity for merchants as KippaPay gets integrated into Bloc's GPay, offering a hassle-free transition for over 19,000 agents. 🚀💰

Fuse Network is empowering startups worldwide with a $10 million grant program, prioritizing businesses in emerging markets like Africa. As the global adoption of Web3 payment systems surges, this initiative aims to catalyze innovative projects and foster financial inclusivity in regions with high grassroots crypto adoption.

Kenya's BasiGo, an electric bus company, accelerates its green mission with a $5 million debt funding from the British International Investment. The loan aims to propel the assembly of 100 electric buses, contributing to Kenya's sustainable public transport vision.

Discover how tappi, the innovative digital commerce SaaS platform, has raised $1.5 million in a pre-seed round led by Mercy Corps Ventures and Chui Ventures. Learn how this startup is empowering small and medium-sized businesses in Nigeria and Kenya by simplifying online profile creation, enabling them to showcase products, engage with customers, and accept payments seamlessly.

Kenya's top e-commerce platform, Twiga Foods, is embroiled in a court battle over a $3 million cloud services contract dispute with Incentro, a Google Cloud reseller. The drama involves conflicting claims, unpaid bills, and a delayed bonus, with the court setting a five-month timeline for resolution.

Nigerian crypto exchange startup BitMama is in discussions to acquire Payday, a once-prominent fintech, offering investors $1 million in equity at a $30 million valuation. The potential deal comes after months of negotiations and aligns with BitMama's expansion into global services, including remittance through its Changera platform.

Kenya's High Court puts the brakes on Maisha Namba, the proposed digital ID system meant to replace the problematic Huduma Namba, citing a lack of data protection impact assessment. Digital rights groups raise concerns about transparency and inclusion, calling for a more human-rights-centered approach to the significant digital transition.

Jumia Nigeria undergoes leadership transition as Sunil Natraj takes the helm from Massimiliano Spalazzi, revealing ambitious plans to expand its e-commerce presence to more Nigerian cities in 2024.

💸 B54, a Lagos-based fintech, revolutionizes startup funding in West Africa by aggregating idle cash from institutions and wealthy Africans, offering growth-stage businesses an alternative amidst a slowdown in large VC rounds. 🚀 Discover how B54 acts as a digital private bank, creating credit lines for investors to support SMEs in need of working capital, filling the void left by traditional venture debt in the challenging African market. 💼 Embracing a tech-driven approach, B54 becomes a game-changer, providing short-term credit to diverse businesses, from payment processors to B2B retail marketplaces.

🚀 Dive into the minds of African tech leaders with "Backstories with Fatu"! In the premiere episode, Fatu Ogwuche chats with Kola Aina, unraveling his journey from entrepreneur to tech investor, sharing insights on the Paystack exit, and the impact of personal values in the investment world. 🌍💡 Join this captivating series for exclusive glimpses into the backstories shaping Africa's tech landscape.

Unlock the potential of Africa's digital landscape with Convergence Partners' groundbreaking $296 million fund! 🌍💰 Explore how this investment is closing the $428 billion digital infrastructure gap, fostering innovation, and propelling the continent into a self-sufficient future. 🚀🔗

Dive into the heart of Africa's digital payment revolution! Discover how alternative payment methods are reshaping the landscape, bridging gaps, and propelling the continent into a future where financial inclusion and innovation reign supreme. 🌍💳

Bolt, the Estonian ride-hailing giant, takes decisive action in Kenya, expelling 5,000 drivers in response to safety concerns. This move comes after the National Transport and Safety Authority's directive, signaling Bolt's commitment to stringent safety regulations. 🛑

Kenya gears up for a groundbreaking move in support of its vibrant startup ecosystem! President Ruto announces the imminent signing of the Startup Bill 2022, aiming to empower youth, provide tax breaks, and pave the way for a robust entrepreneurial landscape. Exciting times ahead for Kenyan innovators!

In a strategic move following a recent debt collection lawsuit, Twiga Foods, the Kenyan platform linking farmers to food vendors, secures undisclosed funding from investors, signaling a positive turn in its business refinancing efforts. The company, led by CEO Peter Njonjo, aims to settle long outstanding dues with over 100 suppliers, demonstrating a commitment to restructuring amidst legal challenges. 🌱💼

Embracing digital payments in Africa sees USSD transactions reigning supreme at 70%, overcoming challenges like smartphone accessibility. Ghana and Kenya favor USSD in their mobile money systems, aligning with high mobile money account percentages. While alternative channels emerge, the evolution of diverse payment methods showcases the continent's dynamic financial services landscape.

Nigeria's tier-1 bank, Zenith Bank, is making bold moves beyond Africa by expressing its ambition to expand into France, following the footsteps of other Nigerian banks venturing onto the global stage. The Group CEO, Ebenezer Onyeagwu, announced the Memorandum of Understanding with the French government at the Chartered Institute of Bankers annual dinner, marking a strategic step for Zenith's international growth. 🌐✨

Kenya has embarked on a groundbreaking digital transformation journey, selecting Microsoft as its cloud partner over tech giants Amazon and Google. This strategic move aims to leverage Microsoft's expertise in adopting a cloud-first strategy, enhancing the efficiency of e-government services and advancing Kenya's technological landscape. The collaboration signifies a pivotal step in President Ruto's ambitious agenda for a digitally empowered government.

Discover the transformative journey of African women in tech over the past five years, marked by increased participation, education access, and a rise in initiatives. Despite progress, funding gaps persist, showcasing the need for more support in the evolving tech landscape.

Ghanaian insurtech, Brolly, backed by Allianz, teams up with global ride-hailing giant Bolt to revolutionize insurance for drivers in Ghana. Offering daily premium payments within the Bolt app, this partnership streamlines access, eliminates the need for multiple platforms, and aligns with Brolly's mission for continent-wide expansion.

Access Bank, Nigeria's financial giant with $26.5 billion in assets, is set to conquer new territories by opening a subsidiary in Asia in early 2024. The move aims to serve the region, Access Bank's largest non-African trading partner, signaling a strategic push onto the global stage. Chairman Hebert Wigwe emphasizes the importance of being a global player to prevent Africa from being cut off from the world's financial system.

Telkom's strategic shift towards an infrastructure-focused model has ignited an 8% surge in its share price. The telecom giant aims to position itself as a crucial player in South Africa's digital future, emphasizing investments in mobile, fiber, data centers, marine cables, and satellite infrastructure. The six-month-old strategy is already yielding positive results, showcasing strong operational and financial performances.

Alerzo, the e-commerce company that secured $10.5 million in Series A funding in 2021, has recently laid off a substantial number of employees, impacting at least 100 roles. This move comes eight months after a previous round of layoffs that affected 400 employees. Discover the company's statement and insights into the reasons behind this decision.

Jetstream Africa, Ghana's leading e-logistics startup, is innovating by providing export loans to small businesses struggling with liquidity, aiming to fuel international trade growth. The company's unique model integrates freight forwarding with financial support, addressing the challenges faced by African exporters and fostering a one-stop-shop solution for seamless cross-border transactions.

Africa investors need to learn to make VC math work instead of debating whether the continent needs unicorns or camels. VCs who focus on the math will be fine regardless.

Tanzanian fintech, Nala Money, backed by Bessemer Ventures and Accel, unveils plans to establish Rwanda as the settlement hub for its East African remittance operations. With a recently acquired licence from Rwanda's National Bank, Nala aims to streamline international money transfers, reducing costs and bypassing intermediaries. This move aligns with Rwanda's ambition to position itself as the premier gateway for fintech in Africa.

Kenya-based payments firm Cellulant is set to revolutionize Egypt's payment landscape after obtaining a business license. As Egypt embraces emerging payment methods, Cellulant aims to empower global and regional merchants with seamless B2B and B2C payment solutions, contributing to the evolving fintech landscape in the country.

In a strategic move to align operations with market focus, Paystack, the Nigerian fintech powerhouse acquired by Stripe, is streamlining its global workforce. With an emphasis on localizing talent, this shift aims to enhance customer proximity and address economic challenges in key African markets. CEO Shola Akinlade assures affected employees will receive comprehensive severance packages, marking a pivotal moment in Paystack's evolution.

Jumia, a leading African e-commerce giant, reports a significant Q3 operating loss reduction to $19 million, showcasing improved cost discipline. Despite a dip in active users and challenges from currency devaluation, Jumia's strategic measures, including workforce reductions and lowered advertising spend, contribute to this positive trend.

Kenya's leading e-commerce platform, Copia Global, is spearheading a drive to shift customer orders to its mobile app, capitalizing on the widespread adoption of smartphones among low- and medium-income Kenyans. With a $107 million venture funding backing, Copia aims to enhance direct engagement, providing users with an extensive product range and transparent pricing through its app. The move aligns with the growing smartphone usage trend in Kenya, fostering a transformative shift in the traditional offline shopping experience.

Discover how AltSchool Africa, the Nigerian edtech transforming online learning, secures strategic assistance from the Rwandan Innovation Fund, fueled by a $30 million commitment. Positioned as the African counterpart to the US coding bootcamp BloomTech, AltSchool aims to empower learners across the continent, with a focus on bridging the skills gap and boosting employment opportunities.

As the battle for Africa's streaming market heats up, Netflix loses its crown to Showmax, with the latter now commanding a 40% share. The competition intensifies as Showmax's subscriber base hits 1.8 million, growing 26% YoY, driven by strategic content investments.

Sweden's Norrsken Foundation launches Norrsken House Kigali, a $20 million investment aiming to turn Rwanda into Africa's technology epicenter, with a vision for the continent's first impact unicorn. President Paul Kagame highlights the strategic importance of private-sector investment for Rwanda's economic growth.

Nigerian home service platform, Eden Life, is embarking on a strategic shift by launching an e-commerce marketplace catering to vendors in food, medicine, beauty, and electronics. This bold move is part of Eden's vision to significantly enhance the quality of life across Africa, challenging industry giants like Jumia and Konga. As the country's e-commerce market is projected to reach $16 billion by 2028, Eden Life aims to carve its niche by providing a diverse platform while learning from past logistic challenges to ensure efficient order fulfillment and customer satisfaction. 🚀🌍

Uganda, the "Pearl of Africa," positions itself for tech prominence with an investor summit. President Museveni announces a $150 million fund and 10-year tax exemptions, signaling a government commitment. The push attracts notable investors, but challenges like visibility and homegrown leadership are acknowledged.

Discover how Emata, the agro-financing startup in Uganda, is sowing the seeds of success for smallholder farmers with collateral-free loans, leveraging farmer cooperatives and a WhatsApp chatbot for efficient disbursement. 🌱📲

Unlocking seamless transactions, Paystack, in collaboration with NIBSS, introduces a groundbreaking direct debit feature, empowering Nigerian businesses to effortlessly charge customers' bank accounts for recurring payments. The move aims to streamline payment processes, reduce costs, and enhance user experience, marking Paystack's strategic shift towards non-card alternatives.

n a fireside chat at the Moonshot by TechCabal Conference, Marlon Nichols, a managing general partner at MaC Venture Capital, a firm with over $20 million invested in Africa, shares his investment thesis.

Flutterwave’s Chief Financial Officer (CFO) Oneal Bhambani has resigned just 18 months after joining the fintech startup, raising questions about the company’s plans to list on the stock market.

The crypto market in Kenya is huge and is already being taxed under the provisions of the Finance Act, 2023.