News

Sabipay, the local arm of Pesapal, has successfully obtained a Payments System Business license from the Bank of Zambia.  This milestone is expected to revolutionize the way businesses and consumers engage with electronic payments across the country.  With this new…

Kenya has officially approved a $907 million proposal from Adani Energy Solutions, a key subsidiary of the Adani Group.  This ambitious project aims to construct new power transmission lines and substations across Eastern and Western Kenya, marking a pivotal step…

The Central Bank of Nigeria has approved the merger of Providus Bank Limited and Unity Bank Plc. This marks a notable milestone in both banks’ development.   The approval came after months of the deteriorating financial health of the Unity Bank. …

Google, a prominent leader in AI features and tools, introduced its new sets of ‘Help me’ AI tools. The AI tools include History Search, Tab Organizer, Tab Compare, and more. The search engine giant also added these new features, plus…

Nigeria’s prominent neobank, Kuda, backed by Target Global,  has tripled its revenue.  This is reportedly stated in its recent audited financial statements, which were filed with U.K. regulators where the startup is incorporated.  High Customer Base Leads To Increased Revenue For…

Access Bank Plc has sold off 8% of its stake in its Botswana subsidiary Access Bank Botswana.  The action caused the popular Nigerian banking group shares to jump from P1.80 to P2.04. Access Bank Botswana Sells Stock as Growth and…

Telkom, a prominent South African telecom company, has announced impressive results in its trading update for the quarter ending June 30, 2024.  The company reported a remarkable 3.9% increase in revenue, reaching R10.9 billion (approximately $587.2 million), alongside a significant…

Mobius Motors, a Kenya-based automaker backed by Playfair Capital, has announced its decision to enter voluntary liquidation after nearly a year of unsuccessful rescue efforts.  The company, known for manufacturing low-priced SUVs designed for the unique challenges of African roads,…

Spiro Launches E-Bikes in Ogun: Spiro, Africa’s largest electric vehicle (EV) player, has announced the official launch of its operations in Ogun State.  The launch ceremony on July 31, 2024, at the Arcade Ground, Ogun State Governor’s Office, Oke-Mosan, Abeokuta,…

MTN Loses Limpopo Case: MTN, a major telecommunications company in South Africa, has lost a Special Tribunal exception application. This is in connection with the alleged irregular supply of mobile devices for COVID-19 screening to the Limpopo Department of Health.…