GDC Receives US$ 692,000 from New Zealand for Power Plant
Geothermal Development Company(GDC) will receive( $692,000) KSh 76 Million from New Zealand to strengthen its technical and managerial capacities in geothermal steam operations at the Menengai Geothermal Field. According to [...]
Mobile Money Transactions Hit KSh 1 Trillion in First 2 Months of 2021
The value of mobile money transactions in Kenya reached KSh1.16 trillion in the first two months of 2021 as more people used mobile money wallets to pay for goods and [...]
LG to Officially Wind Down its Global Mobile Phone Business by July 31
LG Electronics has announced that it is exiting its mobile phone business, a strategic decision approved by its board earlier. The company will now focus on growth areas like electric [...]
Xiaomi Ventures into Electric Vehicles, Invests $10 Billion
Chinese smartphone maker, Xiaomi, has announced its venture into the electric car business, initially investing $1.52 billion in the wholly-owned subsidiary, with a total investment goal of $10 billion over [...]Telegram Raises $1 Billion in Debt Financing
Telegram has raised close to$1 billionin debt financing by selling bonds. This includes $75 million from Mubadala and another $75 million from Abu Dhabi Catalyst Partners in exchange for 5-year [...]E-commerce Like Never Seen Before; Why The World Should Take Note of Africa
E-commerce in Africa is at the tipping point and ready for massive growth. This is according to a recent report titled E-commerce Like Never Before conducted by Dentsu advertising agency. [...]
Facebook to charge VAT for ads in Kenya starting April
Facebook has announced plans to start charging value-added tax (VAT) on the sale of advertisements on its platform in Kenya starting 1st April 2021. This is in compliance with the [...]Mobile Cash Daily Transactions Globally hit US$2 Billion-GSMA
Mobile Cash transactions per day on a global scale exceeded US$2 billion and is expected to surpass US$3 billion a day by the end of 2022 GSMA. The State of [...]Safaricom Teams with Nokia Huawei To Launch 5G Network
Telecommunication giant, Safaricom PLC will on Friday 26th March 2021 unveil the 5G network in partnership with Nokia Corporation and Huawei Technologies. The commercial launch follows several trials by Safaricom since 2018 [...]Google Play Store purchases in Kenya to attract 16% VAT
Google, a US technology company that deals in Internet-related services and products, has indicated that it will start taxing 16% Value Added Tax(VAT) for Google Play purchases in Kenya, effective [...]Somaliland’s Somtel Announces IPO, Priced at $100 Per Share
Somaliland's Telecom and technology service provider, Somtel, has announced an Initial Public Offering (IPO) to investors, with interested parties able to purchase a minimum of 20 shares for$100 apiece. Additionally, [...]Kuda Technologies raises US $25Million Led By Valar Ventures
Kuda Technologies, which currently offers mobile-first banking services in Nigeria, has picked up US$25 Million in Series A funding led by Valar Ventures, Target Global and other unnamed investors participating. [...]
