Author: Akin Naphtal

OPay Egypt, the leading fintech and electronic payments company, has announced the opening of its first “OPay” store in Egypt in the Downtown area in the 5th Settlement, to offer all the company’s services and products for individuals and corporates. The move comes as part of OPay’s expansion plan in the Egyptian market and capitalizes on the success the company has achieved last year through distributing tens of thousands of Points – of – Sale (POS) and increasing its vendors and retailers, becoming the fastest-growing company in the fintech and e-payments market, just one year after its launch in Egypt.…

OPay Egypt, the leading fintech and electronic payments company, has announced that the Central Bank of Egypt has granted it the initial approval to issue prepaid cards through its OPay app. The prepaid cards will be issued with cooperation with the Egyptian Cards Company, the largest card distributer in the local and regional market. OPay Egypt, aims with this new step to provide all electronic payments solutions in the local market. The prepaid cards will allow customers to deposit money in the cards, thereafter use it in cash withdrawals and purchases without having to open a bank account. These cards…

Kenyan startup TopUp Mama, which provides African restaurants with access to supplies, financial services and business management tools, has closed a US$1.7 million seed funding round to accelerate its growth. Founded by Njavwa Mutambo, Emilie Blauwhoff and Andrew Kibe in 2021, TopUp Mama is a one-stop-shop for restaurants in Kenya and Nigeria that provides them with all the necessary supplies, short-term credit and tools needed to manage their businesses. Since raising its pre-seed round 10 months ago, the company has grown by over 1,000 per cent, signed up over 3,000 restaurants, and expanded into Nigeria. It has now closed a…

Nigerian clean-tech plastic waste recycling company Kaltani has raised US$4 million in seed funding to expand its recycling operations across the country. Founded in Nigeria by Engineer Obi Charles Nnanna, Kaltani aims to solve Africa’s growing plastic waste crisis by promoting the circular economy and recycling best practices. The startup has a team of 100 spread across its collection centres, recycling factory and offices, responsible for collecting bottles and other plastic waste which is transported to its collection centres for aggregation and processing, and eventually taken to its recycling factory. At the factory, plastics are then converted into hot washed…

US datacentre owner and developer Flexential has opened its US network to multinational telecommunications firm Angola Cables to assist customers in Africa in connecting to 40 key datacentre hubs across the United States. Flexential provides datacentre colocation, cloud and connectivity solutions. The company owns and operates 40 highly redundant datacentres, seven cloud nodes and manages more than 13,000 cross-connects. The company provides access to Angola’s MONET cable, housed in its Fort Lauderdale datacentre. According to the companies, this partnership will offer customers connectivity via the low-latency, high-capacity South Atlantic Cable System (SACS). They add that the alliance will also address…

New guidelines by the  Securities and Exchange Commission (SEC) will make it mandatory for  operators and investors in the capital market to digitise all their operations. ”This will help operators harness the huge benefits derivable from the adoption of technology and also manage the attendant cyber-security threats and other risks that accompany the use of technology,” the management of SEC stated Monday in Abuja. The statement by SEC explained that the guidelines capture the Minimum Operating Standards (MOS) for Information Technology (IT) for Capital Market Operators (CMOs). ”It will also positively impact on the effectiveness and efficiency of the Commission…

Egyptian fintech startup Paymob has raised a US$50 million Series B funding round to help it launch new products and expand into additional markets. Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob is an infrastructure technology enabler providing payment solutions to empower digital financial service providers through mobile wallet technology. The startup, which closed a US$18.5 million Series A funding round last year and recently launched in Pakistan, has announced a US$50 million Series B round, led by PayPal Ventures, Kora Capital, and Clay Point. The round, which also saw participation from Helios Digital Ventures,…

WhatsApp has doubled its group limit capacity from 256 to 512 participants in a move to counter the rising competitive profile of the Telegram app that allows about 100,000 participants. The latest update is released to its Android, iOS and Desktop versions. The Meta-owned instant messaging platform officially announced the update in a new blog post on its website. The new capacity has already been tested in Argentina. The new feature will now be rolled out globally to all its users in addition to a new feature that allows sharing media files up to 2GB in size. The new file-sharing…

The International Telecommunication Union (ITU) has appointed the Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Pantami, as the Chairman of the World Summit on Information Society (WSIS) Forum 2022. The event will take place at ITU Headquarters in Geneva, Switzerland. The appointment was conveyed to the minister through a letter from the Secretary-General of the ITU, who noted that Professor Pantami was appointed “in light of his overall commitment to Information and Knowledge Societies and the active role he has played in the WSIS Process” and it followed consultations with various stakeholders. The Forum is to be…

Zimbabwe has increased taxes on electronic foreign currency transactions, including ATM withdrawals and payments, as part of several measures President Emmerson Mnangagwa has initiated to try to address the country’s economic decline. The Southern African country’s economic crisis has deepened, with increasing inflation and the Zimdollar continuing to lose ground. Companies have not been able to raise foreign currency to settle international obligations and this has impacted quality of service. In a position paper to the Reserve Bank of Zimbabwe and the Finance Ministry on Monday, the Zimbabwe Chamber of Commerce said, “players within the telecommunications sector are seeking acknowledgement…