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Kenya is planning to change how banks decide the interest rates on loans. Right now, banks look at how risky they think each borrower is and set the loan rates based on that. But this method, called risk-based loan pricing,…
Crossfin, a South African investment company, has put money into DigiSquad, a payments company based in Johannesburg. DigiSquad focuses on helping people and businesses in parts of Africa where it’s hard to get access to banks and digital payments. The…
High costs are stopping many Nigerians from buying new smartphones. Instead, they are holding onto their old phones longer. This is happening because prices for new phones have gone up a lot, and the Nigerian currency, the naira, has lost…
Safaricom, Kenya’s biggest phone company, is investing $300 million (about KSh 40 billion) in an Upgrade to Enhance Its M-PESA Service. This big investment comes as Safaricom celebrates 18 years since M-PESA first started helping people send money using mobile…
Thousands of drivers in Lagos are gearing up to turn off their ride-hailing apps for 24 hours this Workers’ Day, May 1st, in a major protest against companies like Uber, Bolt, and inDrive. Under the banner of the Amalgamated Union…
Big news out of Kenya! The Nairobi Securities Exchange (NSE), which is like the stock market for Kenya, is joining forces with some smart Canadian companies to create something called the Kenya Digital Exchange (KDX). Think of it as a…
Very soon, you might notice that when you use USSD codes like *737# or *894# to buy airtime, data, or do bank transactions, the money for the service will come straight from your phone’s airtime instead of your bank account.…
The CBN Warns BDC operators as the Naira depreciates and continues to lose value against the dollar. On Thursday, the naira further depreciated against the dollar at the official foreign exchange market, ending trading at N1,599.93 per dollar, a slight…
Flutterwave Unveils Accelerate Workshop, a new program aimed at training Africa’s future tech talent. This is a two-day online event designed to help young people in Africa learn real skills they need to succeed in the tech world. The workshop…
Twiga Foods, a well-known Kenyan company, has just taken a big step by acquiring three fast-moving consumer goods (FMCG) distributors. These companies are called Jumra, Sojpar, and Raisons. Even though Twiga Foods has been facing some problems inside the company,…
