GM Acquires 11% Stake in Electric Truck Startup Nikola for $2 Bn
Chevrolet maker General Motors has signed a partnership deal for a $2 billion equity stake in electric truck startup Nikola. The deal will give GM an 11% stake in Nikola. [...]
India Blocks AliPay, TaoBao and 116 Chinese Apps Over Sovereignty Concerns
On Thursday, India blocked 188 mobile applications over concerns that they engage in activities that are prejudicial to sovereignty, integrity, defence, the security of the state and public order of [...]Rocket Internet to Delist From German Luxembourg Bourses as Stocks Tank
Rocket Internet, a major investor in Jumia, will cease trading publicly in the Frankfurt and Luxembourg stock exchanges after its stock price fell by 13% in 2020. The startup incubator [...]Small Business Is on the Brink: Impact of the COVID-19 Crisis on the World
TheCOVID-19 crisis that has been shaking the very foundations of the world is a major threattothe global economy.Stock markets are slowly recoveringafter the record-breaking crash that happened in March. However, [...]Glovo Kenya Names Priscilla Muhiu as General Manager
Glovo Kenya has appointed Priscilla Muhiu as the General Manager. Priscilla took over the position from William Benthall in July, who is now the new General Manager for Sub-Saharan Africa. [...]Safaricom's Spark Fund Dedicates Ksh 540m to Grow Local Startups
Safaricom's Spark Fund has allocated Ksh 540 million ($5m) to fund local tech startups in the country. This is part of its initiative to invest in startups that align with [...]Podcast: Ndovu CEO On How Technology Will Shape Investments in Africa
In an online interview with the Kenyan Wallstreet, Ndovu Investment CEO and co-founder Radhika Bhachu talks about the state of digital investment platforms in Africa and how Robo-advisory will play [...]WorkPay Raises $2.1 Million Seed Capital
WorkPay, a Kenyan startup that provides a cloud-based workforce management system with human resource (HR) and payroll management for small businesses in Africa, has raised $2.1 Million from investors. This [...]
Silicon Valley's Incubator Founder Institute Lands in Kenya
Founder Institute has opened a new chapter in Kenya, opening up its network of mentors to startups in the country. The pre-seed startup accelerator also opened applications for startups to [...]Mums Village Kenya and BabyBliss Nigeria Merge to form Bliss Group
Mums Village Kenya and BabyBliss Nigeria have merged to create the Bliss Group, a Pan-African entity focused on mother and child care. While Mums Village Kenya has proven strengths in [...]OPay Pauses Services Citing Tough Business Environment
Nigeria's OPay has paused some of its services due to a tough business environment. Ride-Hailing, one of the super app's vertical has taken a hit, following the pandemic and the [...]MFS Africa Acquires Beyonic
Money Transfer company, MFS Africa, has completed the takeover of payment provider Beyonic. The acquisition will see MFS absorb Beyonic’s entire team with Beyonic’s Founder and CEO Luke Kyohere, absorbed [...]
