• SeamlessHR, the leading enterprise-grade HR and payroll SaaS provider in Africa, announced the opening of its East African operations.
• Only 30 per cent of Kenyan enterprises have wholly automated their human resource (HR) management operations, resulting in lost revenue.
• KIPPRA data show that 7.4 million firms, including small and medium-sized enterprises (SMEs) in Kenya, are struggling to manage human resources

At a thought leadership conference hosted in Nairobi, Kenya, SeamlessHR, the leading enterprise-grade HR and payroll SaaS provider in Africa, announced the opening of its East African operations.

By implementing well-designed, top-notch technological solutions, SeamlessHR, an end-to-end HR and payroll technology firm, aims to help companies in emerging markets become more productive and successful.

At the event, which was held at the Villa Rosa Kempinski Hotel in Nairobi with the theme “Maximising Africa’s Human Capital at the Intersection of Technology and Enterprise,” influential business executives and IT specialists were present. …

• Moove has raised US$30 million to increase its fleet of electric vehicles in the MENA region. The money came from a debut Sukuk offering
• Moove will use the funding to add up to 2,000 EVs in United Arab Emirates over the next year
• Moove predicts that this fleet of EVs will reduce carbon dioxide emissions by nearly 5,000 metric tonnes annually

Moove, a mobility fintech company in Nigeria, has raised US$30 million to increase its fleet of electric vehicles in the MENA region. The money came from a debut sukuk offering that Franklin Templeton Investments (ME) Ltd coordinated.

The successful closing of the company’s first sukuk will give Moove access to the vast pool of Islamic investors who are especially keen on making socially and environmentally responsible investments. It will also undoubtedly open up new financing options for Moove’s ambitious expansion plans.

As a sukuk al- istisna, a Shari’ah-compliant contract …

• African fintech is the fastest-growing start-up industry in Africa
• Africa’s fintech sector is well placed to quickly improve Africa’s global competitiveness through an increase in exporting fintech services abroad
• The rise of financial inclusion in Africa is stifled by regulatory uncertainty and regional differences
• Also the top 5 fintech trends and forecasts to watch in 2023

The success of fintech companies is fuelled by several trends, including growing smartphone ownership, expanded network coverage, declining internet costs,  and a young, rapidly urbanising, and fast-growing population.

African fintech is the fastest-growing start-up industry in Africa, raising over US$1,3 billion in 2021 alone.

According to McKinsey research, fintech sales in Africa are predicted to expand by 10% each year through 2025, with transactions and wallets becoming the fastest-growing products.

Despite the fact that fewer than 15% of monetary operations on the continent are digital, African fintechs collectively generated US$4-6 billion in revenue by …

• McKinsey report found that fintech in Africa is the fastest-growing startup industry, raising over US$1.3 billion in 2021
• The industry is being supported by several trends, including smartphone ownership, declining internet costs, and a young, fast-growing, and rapidly urbanising population
• Cash is still used in around 90% of transactions in Africa, which means that fintech revenues have huge potential to grow
• The top challenges that fintech may face include reaching scale and profitability, navigating an uncertain regulatory environment, managing scarcity, and building robust corporate governance foundations

A new finding named fintech in Africa as the fastest-growing startup industry, raising over US$1.3 billion in 2021.

McKinsey & Company found that the industry is being supported by several trends, including smartphone ownership, declining internet costs, expanded network coverage, and a young, fast-growing, and rapidly urbanizing population. Further, the COVID-19 pandemic has also accelerated existing trends toward digitalization and created a fertile environment …

Scientists in Tanzania are making headway in biotechnology to improve agriculture and healthcare in the country as global scientists continue to improve the biopharma industry and use of AI in drug development.

“Machine learning will end up being an absolutely critical, pivotal shift—a paradigm shift—in the sense that  it will touch every single facet of how we discover and develop medicines , and accelerate and improve every single one of them,” Daphne Koller CEO and founder, insitro.

From AI-driven drug discovery industry in the US to biotech agriculture in Tanzania, machines are increasingly determine what we eat, what drugs to cure us, machines run our lives.…

With financial inclusion in mind, governments are taking notice and offering more supportive regulatory frameworks, ever further assuring that the African fintech industry growth rivals that of more mature markets, the likes of Vietnam, Indonesia, and India.

Despite the high potential seen in East Africa, with countries like Kenya standing out, South Africa still commands approximately 40 per cent of the industry revenues.

On the western part of the continent, too, in places like Ghana, growth is at 15 per cent per annum and will only get higher all through 2025. Then you have the larger economies coming in; Nigeria and Egypt are both expected to enjoy annual growth rates of 12 per cent over the same period.

While growth rates at this early stages are higher in less developed East African countries, economies with more mature financial systems and digital infrastructure, the likes of South Africa stand a greater …