Author: Akin Naphtal

Kenyan agric-tech firm, Twiga Foods, which facilitates connections between farmers and food vendors, has successfully secured an undisclosed funding amount as part of a broader business refinancing initiative. The new funding was obtained from notable investors, including Creadev, Juven, TLcom Capital Partners, and DOB Equity. All four investors had previously participated in Twiga’s 2021 $50 million Series C funding round. This development comes just weeks after the company faced a KES 40 million (USD 261,878.75) debt collection lawsuit from Incentro Africa, a cloud services vendor. Twiga’s CEO, Peter Njonjo, recently addressed the recent challenges, in a now-deleted post on Medium,…

The Group Managing Director/CEO of Zenith Bank Plc, Ebenezer Onyeagwu, has announced the bank’s intent to expand operations into France, during the Chartered Institute of Bankers annual dinner at Eko Hotels in Lagos. With customer deposits totalling ₦13.38 trillion, Zenith Bank is among Nigeria’s largest financial institutions. The expansion into France follows a Memorandum of Understanding (MoU) signed with the French government, initiating the process of obtaining a banking licence for Zenith to commence operations in the European country. While Zenith’s CEO provided limited details on the timeline for regulatory approvals and the establishment of the France subsidiary, this move…

The Bank of Ghana has disclosed that the total mobile money transactions in the first 10 months of 2023 reached a record ¢1.527 trillion cedis, an increase of 80.7% compared with the same period in 2022. October 2023 recorded the highest mobile money transaction value of ¢179.2 billion, surpassing the previous record of ¢169.6 billion in July 2023. The figures from the Central Bank show that the value of mobile money transactions grew steadily from ¢130.1 billion in January 2023 to ¢134.0 billion in February 2023, and then to ¢147.5 billion in March 2023. The value dropped slightly to ¢138.8…

Kenyan Prime Bank has entered into a partnership agreement with Egyptian card-issuing company, MDP to roll out an all-new multi-currency prepaid card. The new card has a tap-and-go contactless capability as well as a chip and PIN security feature that enables customers to, manage, spend and send their money in different currencies. This partnership came in line with the growing demand among consumers to transfer safe & cost-effective cross-border payment services. The Prime Prepaid Multicurrency Card is available in Kenya Shillings, US Dollar, GB Pounds, Euros and Indian Rupees. Speaking on the launch, Prime Bank’s Chief Executive Officer, Rajeev Pant…

Siris, a leading private equity firm focused on investing and driving value creation in technology companies, has announced a definitive agreement to acquire BearCom, a leading North American solutions provider of wireless communications and security technologies, from Bertram Capital, a middle market private equity firm headquartered in Foster City, California. Terms of the transaction were not disclosed. Founded in 1981, BearCom has been trusted for decades by customers across North America to provide land mobile radio systems that support critical business and security processes. BearCom has more than 1,000 employees, including 350+ in its service workforce across the United States…

MPost, the Kenyan tech startup that transforms mobile numbers into virtual addresses is moving its headquarters from Nairobi to Rwanda effective November 2023. The Kenyan Tech pioneer says this strategic move reveals a significant shift in its operational landscape and aligns with the favourable business environment that Rwanda offers to tech startups. Founded in 2016 by Abdulaziz Omar and Twahir Ahmed, the startup’s platform enables the conversion of mobile numbers into official virtual addresses, which allows notifications to be sent to clients whenever they get mail through their postal addresses. It currently operates in Kenya, Rwanda, and Burundi, and has…

Applications are currently open for the sixth edition of the Africa Tech Summit (ATS) Investment Showcase, scheduled to take place at the Sarit Centre Expo in Nairobi, to connect over 1000 African and international industry leaders, investors, and startups from across the African tech ecosystem. The Investment Showcase, slated for 14th to 15th February 2024, holds a pivotal role in the Africa Tech Summit, aiming to unite investors, entrepreneurs, policymakers, and industry leaders from across the continent. The event is geared towards propelling business and investment in the tech ecosystem. Successful applicants will have the chance to present their ground-breaking…

A global leader in cybersecurity, Eset has announced the launch of its new innovative and streamlined offering for South African consumers. With more than 30 years on the market, Eset has moved to unify its broadly deployed consumer product portfolio. Specifically, Eset is introducing three brand-new customer-centric subscription tiers, providing both broad and reliable digital life protection via new features such as Virtual Private Network (VPN) and a Browser Privacy & Security extension. In a digital world, Eset is taking antivirus protection a step further with all-in-one protection for consumers. Considering just how much of our lives are spent online,…

MTN Group has announced its participation in the global campaign “UNiTE! Invest to Prevent Violence against Women & Girls”, which aims to combat gender-based violence (GBV) that affects around 736 million women worldwide. The campaign, which runs from 25 November to 10 December, is a 16-day campaign of activism that focuses on breaking the barriers of silence and stigma that often surround GBV, empowering women to stand strong and speak out. “The staggering number of women affected by gender-based violence globally requires more than just awareness – it demands action,” says MTN Group Chief Sustainability and Corporate Affairs Officer Nompilo…

NEC Corporation, a global leader in information and communications technology, and MTN Group, Africa’s largest mobile operator, have announced the launch of Phoenix, the continent’s first 400G optical transponder solution. Phoenix is a cutting-edge technology that can transmit data at speeds of up to 400 gigabits per second, enabling faster and more affordable internet access across Africa. Phoenix is part of the Telecom Infra Project’s (TIP) Open Optical and Packet Transport (OOPT) project group, a collaborative effort involving multiple telecom operators and technology providers. The solution has met TIP’s rigorous test requirements, earning it a Controlled Environment Silver Badge, indicative…