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Money Deals
- The GSMA’s State of the Industry Report on Mobile Money 2023 shows adoption rates are even more significant than expected.
- Registered accounts, transaction values, and deployments exceeded industry predictions.Â
- In 2022, daily transactions via mobile money reached $3.45 billion, exceeding the $3 billion amount predicted in 2021.
- Total transaction value for mobile money grew by an incredible 22 percent between 2021 and 2022, from $1 trillion to around $1.26 trillion. Â
Mobile money services are growing faster than predicted around the globe, as digital services continue to rise in popularity, according to the GSMA’s annual State of the Industry Report on Mobile Money 2023.
The report, published annually by the GSMA and funded by the Bill and Melinda Gates Foundation, demonstrates that rates of adoption are even quicker than expected, with the number of registered mobile money accounts growing by 13 percent year on year.
This is from 1.4 billion …
- Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn.Â
- Latest statistics from the Insurance Regulatory Authority (IRA) indicate that the number of claims reported to the insurers were 2,040,600, a 12.6 percent increase compared to 1,811,141 claims reported in Q3,2022.Â
- General liability claims paid went up by 16.8 percent to 14,085 claims worth $42Mn from 12,055 claims paid worth $40Mn billion in the previous quarter. Non – Liability claims paid hit 1,714,723 claims worth $170Mn representing a 1.8 percent from 1,684,698 claims worth $160.31Mn reported in Q3 2022.Â
Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3 percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn.Â
According to the Quarter 4 of 2022 claims …
- TransCentury Plc’s right issue is set to be reopened following approval from the Capital Markets Authority (CMA) after the initial issue failed to hit a 50 per cent threshold.Â
- Unfortunately, the rights issue performed below expectations, and as a result, CMA has invoked its powers under Section 14 of the Public Offers and Listings Regulations to allow TransCentury to reopen the issue.Â
- The rights’ issue will be open from March 20 -30 this year with additional information provided in the secondary prospectus to be issued by March 17 as the firm seeks shareholders’ approval to enable the conversion of shareholder loans to ordinary shares as a mode of payment for rights.
TransCentury Plc’s right issue is set to be reopened following approval from the Capital Markets Authority (CMA)Â after the initial issue failed to hit a 50 per cent threshold.Â
TC shareholders had until January 23, 2023 to take …
- Female-led and female-founded ventures attracted even less funding in 2022 than they had in 2021.
- Female-led start-ups in Africa have raised $188m (4%) in 2022, while male-led ventures raised $4.6bn (96%). Â
- The number of $100k+ deals announced by female-led start-ups has also seen a YoY decrease, (128 in 2022 vs. 141 in 2021) and relatively (13% vs. 16%).Â
Female-led and female-founded ventures attracted even less funding in 2022 than they had in 2021, latest data from Africa’s The Big Deal shows.
According to the report, female-led start-ups in Africa have raised $188m (4%) in 2022, while male-led ventures raised $4.6bn (96%). In other words, 25x times less funding has been invested in female-led start-ups in 2022, compared to their male-led counterparts.Â
“Year-on-year, the amount of funding raised by female CEOs has decreased between 2021 and 2022, both in absolute ($188m in 2022 vs. $290m in 2021) and relative numbers (3.9 …
- Agriculture deals worth $25Mn will be struck next month as investors throng the Kenyan capital for the 6th edition of Africa Agri Expo (AAE) in February 2023.Â
- Over 100 investors and potential business leads in the agriculture value chains from 35+ countries, are keen on setting up businesses and distribution set-ups in Kenya.Â
- The agricultural 2-day event will happen on 8th February to 9th February at the Kenyatta International Convention Centre (KICC) and is designed to provide solutions to Farmers, Agribusiness professionals, Agronomists, Government representatives to improve their yields and revenue.Â
Agriculture deals worth $25 million are expected to be struck next month as investors throng the Kenyan capital for the 6th edition of Africa Agri Expo (AAE) in February 2023.Â
TAB Group Chief Executive Officer Tahir Bari said over 100 investors and potential business leads in the agriculture value chains from 35+ countries are keen on setting up businesses …
- Serviced office space provider, Workstyle Africa, has announced plans to invest $2 million to open five one-stop-shop entrepreneurship centres and work spaces in East Africa.Â
- The firm has partnered with SNDBX International, a business growth ecosystem, to open the centers. Â
- Each Workstyle location will have a SNDBX wing with more than 20 resident business support experts. Â
Serviced office space provider, Workstyle Africa, has announced plans to invest $2 million to open five one-stop-shop entrepreneurship centres and work spaces in East Africa.
The firm has partnered with SNDBX International, a business growth ecosystem, to open the centers aimed giving entrepreneurs and SMEs within these spaces personalized access to round the clock business experts to support their growth.
Workstyle Africa builds and manages beautifully designed, high end, flexible workspaces at competitive pricing, while enabling companies to manage new hybrid-work models and enhancing their employees’ work environment.
“Each Workstyle location will have a
- Investment in African startups in the energy sector more than doubled in 2022 to hit $874 million compared to $413 million in 2021 making it the biggest winner in 2022.
- The energy sector was followed closely by the logistic & transport sector which experienced year on year growth of 38 percent, surpassing Fintech in Q4.
- Retail came next at $455m in investment, while other significant sectors growing year on year included Telecom, Media & Entertainment, Agriculture & Food and Deeptech.
Investment in African startups in the energy sector more than doubled in 2022 to hit $874 million compared to $413 million in 2021 making it the biggest winner in 2022.
This is according to latest data from The Big Deal which attributes the growth to two huge investments made in the region during the period under review that includes PEG Africa’s acquisition by Bboxx estimated at $200m and Sun King’s …
- LG Electronics and Korea Food for the Hungry International (KFHI) have announced a $30,000 challenge for social enterprises solving social issues in the communities in which they reside.Â
- The challenge dubbed 2023 LG Ambassador Challenge seeks to promote and support the growth and self-reliance of local communities through social groups.
- LG Electronics and KFHI will award three problem-solving projects with $10,000 each that will go towards solving social issues in the communities in which they reside.
LG Electronics and Korea Food for the Hungry International (KFHI) have announced a $30,000 (Sh3.7 millon) challenge for social enterprises solving social issues in the communities in which they reside.Â
The challenge dubbed ‘2023 LG Ambassador Challenge’ seeks to promote and support the growth and self-reliance of local communities through their social groups.
 In its third edition, this year’s challenge aims for sustainable community development by focusing on and enhancing the capacity of community …
