Jumia Cuts Operating Losses by 49% to $33 Million as Pandemic Disruptions Slow
Jumia Technologies AG, a Nigerian-based online shopping platform with a presence in several countries in Africa, including Kenya, has posted a 49% reduction in operating losses to $ 33 Million. [...]
Nigerian Fintech, Kuda, Raises $10 Million Seed Funding
Nigerian fintech startup, Kuda, has raised $10 million in a seed funding round, even as it seeks to expand further across Africa. Investors who took part in the funding include Target [...]
AfDB Grants $150,000 to Rwanda's Coding Academy
The AfDB (African Development Bank), in conjunction with Rwanda's Ministry of ICT and Innovation, has signed a $150,000 grant agreement to support the Rwanda Coding Academy. According to Rwanda's Ministry [...]Safaricom Half Year Net Earnings drop 6% to KSh 33.1 Billion on pandemic woes
Safaricom Plc Net earnings for the six months period ended 31st September 2020 slumped 6% to KSh 33.069 Billion compared to a net profit of KSh 35.195 Billion over a [...]WhatsApp Users in India to Send Money Through the App
WhatsApp has announced commencing in-app digital payments in India. In this case, WhatsApp users will transfer money to family members or share the cost of goods from a distance without [...]
Safaricom Unveils New Mobile Prefixes; 0112, 0113, 0114, 0115
Safaricom has unveiled new phone number prefixes starting with0112, 0113, 0114, and 0115to meet the increasing demand for its sim card lines. The new phone numbers will be available at [...]Samsung Reclaims the Top Spot in the Smartphone Market – IDC
Samsung reclaimed the top position in 3Q20 with a market share of 22.7% after shipping 80.4 million smartphones, up 2.9% year over year. These figures represent new shipments only and [...]Airtel Announces Plans to Exit Ghana, Selling 100% Shares to Gov't
Airtel has announced plans to exit the Ghanaian telecommunication market, with plans in the pipeline to transfer all shares to Ghana's government. The transfer means the Ghanaian government will acquire 100% [...]Liquid Telecom Raises $307 Million for Expansion in Africa
Africa’s largest fibre network provider, Liquid Telecom, has raised $307 million through a rights issue, as it seeks to expand its data center business across Africa. The rights issue included$40 [...]Boosting Network Connectivity in Rural Kenya: A Case of Ngurunit
Rural communities in Kenya significantly benefit from network towers near them, opposing them to communication access that could change revolutionize their daily life activities. Ngurunit, a village at the border [...]Citi Projects Safaricom's Net earnings to Hit KSh78.7 Billion in 2023
Citi Research forecasts that giant telco firm, Safaricom, net profit will to rise from KSh 74.7 Billion posted in the year ended March 31st, 2020 to KSh 78.7 Billion in [...]PayPal Opens its platform to Cryptocurrency Transactions
PayPal Holdings Inc, a US-based online payments system has joined the cryptocurrency market. The global firm that deals with online money transfers and serves as an electronic alternative to traditional [...]
