GM to Spend $3 Billion in All-Electric Trucks
General Motors (GM) has announced plans to spend $3 billion in producing different types of all-electric trucks, as well as autonomous vehicles. Of the $3 billion, the company will spend [...]
‘Predatory’ Mobile Loan Apps Still Available Despite Google Ban
Five months ago, Google issued a global ban on Android apps that offer short-term loans, saying it wanted to protect consumers from what it called “deceptive and exploitative” terms. But [...]
Safaricom's Entry into Ethiopia is High Risk, High Return Citi
Analysts at Citi see Safaricom's entry into Ethiopia as a high risk, high return investment. Bloomberg cites that the initial cost for network and licensing in Ethiopia is high. Nevertheless, [...]Kenya-Djibouti Sea Cable Installation Starts
Installation of a sea cable that will link Kenya and Djibouti has started, even as the projected deadline of June 2020 nears. The cable system, dubbed Djibouti Africa Regional Express [...]Facebook's Libra Faces another Setback as Vodafone Quits
Facebook's cryptocurrency, Libra, has faced another setback after telecommunications firm, Vodafone, withdrew from the project, citing the need to concentrate on its own related service. We can confirm that Vodafone [...]African Tech Startups to Get KSh 6.6 Billion from Janngo
Africa's first social startup, Janngo, has announced plans to give funding worth $66 million (KSh 6.6 billion) to African Tech Startups. The fund, dubbed Janngo Capital Startup Fund, is geared [...]Bolt Receives KSh5.6 Billion for RD Strategies
Taxi hailing company, Bolt, has received KSh5.6 billion from the European Investment Bank (EIB), funding that seeks to improve the company's research and development strategies. Some of these strategies include [...]Mpesa Tripple Pay of Accessibility, Simplicity and Convenience
In 2006 before the M-PESA innovation, there were only 2.4 million bank accounts in Kenya. Access to formal financial services was a preserve for a few. Fast forward in 2020, [...]
Toyota Invests $394 Million in Flying Taxis
Toyota has invested $394 million in Joby Aviation, a move that seeks to aid in the development of electric flying taxis. This new-found partnership will enable the two companies to [...]Google's Parent Company's Market Value Hits $1 Trillion
Alphabet, Google's parent company, has hit the $1 trillion mark in market share value, becoming the fourth US firm to hit that spot, after Amazon, Apple and Microsoft. On Thursday, [...]Amazon to Invest $1 Billion to Digitize SMEs in India
Amazon has revealed plans to invest $1 billion in a bid to digitize small and medium-sized enterprises in India, with a long-term expectation of exporting $10 billion worth of India-made [...]Visa Acquires Fintech Firm, Plaid, for $5.3 Billion
Visa has acquired fintech firm, Plaid, at a cost of $5.3 billion, a move that will enable the firm take advantage of Plaid's technology, thus making huge strides in the [...]
