Navigating Regulatory Licenses: Key to Building a Globally Scalable Fintech Business in Africa
As African economies continue to experience growth, the demand for reliable and efficient payment solutions continues to grow. This has seen a proliferation of technology companies seeking to solve complex [...]
Rwanda Raises Key Intrest Rate to a 9-Year High of 7% on High Inflation Rate
Rwanda’s central bank raised interest rates to the highest level since 2014 as it sees inflation remaining in double digits in the first half of the year. The monetary policy committee lifted [...]
IMF Raises Congo's Growth Forecast for 2022 to 8.5%
The International Monetary Fund (IMF), has increased the GDP growth of the Democratic Republic of Congo to 8.5 per cent in 2022 due to a boost in production within the [...]
Ghana Inflation Dips to 53.6% in January, First Fall Since May 2021
According to the Ghana Statistical Service, Ghana's inflation rate in January decreased to 53.6 per cent, marking the first decline since May 2021. The rate was 0.5 percentage points lower [...]Nigeria's Inflation Hits 21.8% in January
Nigerian inflation quickened at the fastest pace in almost two decades, adding pressure on businesses and consumers before next week’s presidential election. The inflation rate rose to 21.8% in January [...]MTN to Invest $1 Billion in Ghana after Government Scrapped Tax Claim
MTN Group is set to invest $1 billion in Ghana over the next five years, the mobile operator said on Wednesday, after the government exempted its Ghanaian unit from tax claims [...]Identity Verification Platform, Smile Identity, Raises $20 Million in Series B Funding for Pan-African Expansion
Smile Identity, Africa's leading KYC onboarding and identity verification platform, has announced the successful completion of its Series B funding round, raising $20 million. The round was led by Costanoa [...]Ghana Domestic Debt Swap Gains Over 80% Participation, Cedi Rallies
Ghana's government plan to reorganize its domestic debt received acceptance from more than 80% of bondholders, a critical step in the country’s efforts to secure a $3 billion bailout from [...]Kenyan Fintech, Power, Raises $3M Seed Round to Enable Financial Services for Employees Across Sub-Saharan Africa
Power, a Kenya-based financial technology provider, announced on Tuesday it raised a $3M seed funding round led by DOB Equity alongside Bolt by QED Investors, Quona Capital, Zephyr Acorn, and Norrsken Accelerator. The funds will support the [...]South Sudan Suspends Use of US Dollar for Local Currency
The South Sudan government has halted the use of the US dollar and mandated the usage of the local currency, the South Sudan pound (SSP), for all transactions. This action [...]Mercy Corps Ventures Launches $1M Fund to Test Real World Use Cases for Web3 in Emerging Markets
Mercy Corps Ventures is launching a second year of its Crypto for Good Fund of $1 million. This Fund is set up to test and support Web3 solutions for underserved [...]Relief for Kenyan Traders as Somalia Reduces Taxes on Miraa
Kenyan traders of the local stimulant, miraa, are thrilled with the news that Somaliland has decreased the tax on the Kenyan version. Previously, the tax on Kenyan produce was three [...]
