- For the first time in eight years, Nigeria's Central Bank postponed the Monetary Policy Committee (MPC), to decide the nation's interest rates. The MPC meeting is usually held every two months to decide interest rates.
- Francis Dufay, the CEO of Jumia Group, is facing his most challenging task yet. In November 2022, inherited a company that loses $167 for every $100 it earns; in Q2 2023, the company’s cash balance was down to $62 million. Despite this, Dufay is determined to ‘bring Jumia back.’
- Do you know your current SRD SASSA re-application or appeal status? You are advised to check your status now as payments are currently being disbursed.. Read more here:
- Fixit45, a Nigerian startup that provides spare parts, vehicle repairs and maintenance services has secured $1.9 million pre-seed funding to scale in Nigeria and expand into East Africa.
- Postbank has officially confirmed disbursement of all outstanding SRD SASSA funds to recipients. They also noted some fraud attempts by some beneficiaries of the initiative. Read more here:
- Six months after raising $3million, PayDay is currently in discussions to sell the company. Its journey has been marked by negative press, salary reductions, the sore exit of a co-founder, and reports of other co-founders juggling other full-time jobs with running PayDay
- Anka, an Ivorian e-commerce startup with the majority of its vendors in Nigeria and Kenya, has raised $5 million in equity and debt as an extension round.
- According to insights by DataReportal, there were 5.74 million internet users in Zimbabwe as of January 2023, translating to an internet penetration of 35%. The country aims to have an internet penetration of over 75% by 2025.
- AI can help businesses to make better decisions by analysing large amounts of data and identifying patterns that would be difficult or impossible for humans to see.
- TechCabal has exclusively reported that the acquisition of Sendchamp by WhoGoHost was valued in the "mid-six-figure" range in USD and involved a combination of cash and equity.
- Canal+ Group’s France and European market challenges, combined with MultiChoice’s pan-African presence, robust topline financial performance and a struggling share price make the perfect concoction for an acquisition.
- Ezra Chiloba, the director-general or CEO of Kenya’s ICT watchdog, the Communications Authority (CA), has been suspended. The CA alleges that Chiloba engaged in corrupt practices that attempted to defraud the agency of KES 25 million ($170,000).
- With over ₦1.1 trillion paid out to users, Piggytech has grown from a savings platform to a financial services behemoth in just 6 years. Here's a look at the close-knit executives that power this growth.
- According to people with direct knowledge of the deal, Whogohost’s acquisition of the customer messaging platform Sendchamp was a “mid-six-figure” deal. TechCabal understands that the deal was a mix of cash and equity, but most of Sendchamp’s early investors—from whom it raised an estimated $400,…
- Avoid layoffs if possible, as hiring and training new employees later is costly. Consider temporarily reducing hours or pay rather than terminating jobs.
- Smallscale modern retail in Africa will not completely replace open markets in Lagos, souks in Cairo, or storied markets like Karatina in central Kenya. But a subtle shift that can become a major marker of African retail is underway.
- Naspers CEO Bob van Dijk has resigned from the helm of Africa's largest company by market capitalisation after ten years. Van Dijk will also step down as CEO of Prosus, a subsidiary of Naspers
- i3, a pan-African initiative funded by the Gates Foundation, is giving 29 startups operating in Africa’s healthcare supply chain equity-free funding.
- TikTok has been fined $379 million for not protecting children's data according to the requirements of the European Union's General Data Protection Regulation (GDPR).
- In 2015, Cardoso was one of three names considered as Vice President to Muhammadu Buhari. "I was asked to submit three names, Yemi Cardoso, Wale Edun, and Yemi Osinbajo," Tinubu said in the buildup to the 2023 elections,
- President Bola Tinubu has nominated Olayemi Michael Cardoso as the next governor of Nigeria’s Central Bank. His nomination comes exactly four months after the president's suspension of former Central Bank Governor Godwin Emefiele.
- After operating in stealth for a year, OneLiquidity, a startup that offers technology, liquidity, and licensing services for businesses through APIs, has launched its platform at an event in Lagos.
- Livecopper was founded in 2012 by Allingham and Andrew Davies. The company provides a one-stop e-commerce platform for industry professionals to source building fixtures, including lighting, plumbing, and sanitaryware.
- August’s inflation was again driven by an increase in the prices of food and nonalcoholic beverages as food inflation for the month also climbed to 29.34%.
- We used to have a product called Barter. However, currently, it is in an upgrade phase. We want to build a new product to make Barter even more efficient, so we are working on that.
- With over 13 billion streams on Spotify in 2022 alone, Afrobeats' rise has been scorching, with a staggering 550% surge in streams between 2017 and 2022.
- The thinking is that by joining forces, the two countries can accelerate their respective digital transformations while also playing a more influential role in shaping the global tech space.
- Managers of a business preparing for an IPO intentionally cultivate an image and push communications that subtly reinforce the value of the business. Surely, you can think of at least one African tech company doing this right now, yes?
- Fuel costs in Kenya have, for the first time, surpassed the KES 200 ($1.36) mark. With yesterday's price adjustment, the new pump rates will be KES 211 ($1.44) for super petrol, KES 201 ($1.37) for diesel, and KES 202 ($1.38) for Kerosene per litre.
- There have been media backslashes from displeased iPhone enthusiasts who believe the iPhone 15 series is simply a renamed version of the iPhone 14 series. Before you believe or discard, read this:
- To make your SGR journey even more convenient, you can book your tickets virtually. Here, we will walk you through the steps for booking your SGR tickets online in Kenya.
- Nigerian startup Mecho Autotech has secured $2.4 million in a pre-Series A round. The startup is set to launch a B2B spare parts distribution platform and offer up to ₦10 million in financing.
- In the centre of Victoria Island, Lagos, the One Wellness Centre is helping people who need help getting pregnant or freezing their eggs and sperm until they are ready to have kids.
- "[ROI from investing in films] varies from project to project, but it is definitely better than keeping your money in a fixed deposit. We have seen 50%, 2x, and 3x returns," said Olumide Soyombo.
- Emata, a Uganda-based startup that offers affordable loans to farmers, has secured a $2.4 million seed round to provide affordable loans to farmers in East Africa.
- In a strategic move to deepen value offering, WhoGoHost, a web hosting company, has acquired SendChamp, a cloud-based communication startup. The acquisition is a combination of cash and equity
- Just like July's uptick, the slowdown was again driven primarily by food prices. Per the data from the GSS, food inflation fell from 55% in July to 51.9% in August.
- This article will guide you through three essential aspects of KRA PIN: verifying a KRA PIN, obtaining a KRA PIN and retrieving a forgotten KRA PIN. Read now:
- For *Botshelo, a 23-year-old unemployed accounting graduate, InDrive has become so valuable for him as a driver that he is no longer interested in job-hunting.
