Despite months of unease about the state of economies across the continent, Africans remain willing to spend money on all sorts of goods. But this year, they are making it clear that brands must have new strategies to get their money. According to the Euromonitor 2023 consumer trends, more consumers are sticking to a budget, looking for cost-effective solutions that …
With a fast-growing population, Africa is witnessing a remarkable rise in entrepreneurial ventures. From small-scale startups to established enterprises, businesses of all sizes have the burning desire to meet the evolving demands of the population, which seeks innovative solutions, products, and services. However, this dynamic and rapidly evolving business landscape is plagued with several challenges, …
Gricd, a technology company that develops Internet of Things-powered solutions to support the last-mile delivery of perishable goods, has secured $1.5 million in a seed funding round led by Atlantica Ventures, with participation from Vested World, Jaza Rift and Katapult, to expand across Africa and deliver new solutions that will make it easier to insure …
FCMB Group Plc has announced its financial results for the first quarter of 2023, demonstrating the continued success of its digital banking initiatives across various business segments. Digital banking initiatives have gained significant traction within FCMB Group, contributing to its overall performance. In the first quarter, digital revenues accounted for 12.0% of gross earnings, equivalent to N10.0 …
M-KOPA, a leading fintech platform, announced it successfully closed over $250m in new debt and equity funding to expand its financial services offering to underbanked consumers across Sub-Saharan Africa. This marks one of the largest combined debt and equity raises in the African tech sector, enabling M-KOPA to continue its rapid growth. Over $200m in …
Moody’s moves to downgrade Egypt to B3 Moody’s Investors Services has placed Egypt’s B3 long-term foreign-currency and local-currency issuer ratings under review for downgrade, according to a local report. This follows Fitch Ratings’ downgrading of the country’s long-term foreign-currency credit rating to “B” from “B+” for its debt issuances, last week. “The review period will …
The Africa’s Business Heroes (ABH) Prize Competition, a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, has extended its deadline for entries to May 17, 2023. This extension has been made in response to the strong level of interest from entrepreneurs across the continent. ABH aims to identify, support and inspire the …
The Federal Government of Nigeria allegedly seeks to Award revenue collection to SICPA, a global provider of security inks and secured identification company, which has been convicted and fined CHF 81 million ($90 million) for organisational deficiencies by the Swiss Office Of The Attorney General (OAG), as the OAG finally concluded its investigation and produced …
JumiaPay, a digital payments, and fintech platform has announced its partnership with Trove Finance, an investment platform in Nigeria. This partnership enables Trove’s customers to leverage JumiaPay to fund their investment accounts, providing a seamless and convenient way to manage their investments. Trove has integrated JumiaPay as a payment partner, making it more convenient for …
Chimezie Emezulu, chief executive officer (CEO) of Seamfix Seamfix Limited, an enrolment and identity verification firm has partnered with Mvine, an orchestration service provider to deliver a new range of digital identity services interoperable across international borders. This aims to deliver fast enrolment of new customers and identity verification (IDV) checks of Africans in the …