- Kenya’s NCBA Group reports 56 per cent jump in net profit to $162.3 million
- UNEP report sounds the alarm on Africa’s growing food waste crisis
- I&M Bank’s profits rise by 15 percent as the lender intensifies regional expansion
- Telco giant MTN reshaping presence in Africa with key exits
- German firm Karcher opens new $3 million distribution center in Kenya
- Equity Group to pay record $114 million in dividend despite 5 per cent profit dip
- Under President Samia Suluhu Hassan, a new economic dawn emerges in Tanzania
- BRICS bank readies to disburse $5 billion in loans this year
Tech & Business
- MTN is divesting its stakes in Guinea-Bissau and Guinea-Conakry to Telecel.
- The telco giant will now shift more focus on rising markets Ghana, Cameroon, Nigeria, and Cote d’Ivoire.
- With the exception of Cameroon, these three markets account for a combined 18.6% of the Group’s revenue.
South African tech heavyweight MTN has unveiled a key shift in its market strategy involving the divesture of its stakes in Guinea-Bissau and Guinea-Conakry businesses to Telecel.
This move is poised to mark a strategic change in bolstering MTN’s presence in Africa in what is perceived as stronger markets within the West and Central Africa region.
The agreement, which was sealed in December 2023, sees MTN ceding control to Telecel, a telco with a notable footprint in the African Telecommunications business. While the financial disclosures of the deal remain unclear, MTN has informed its stakeholders that further details will be published in the coming …
- Foodtech startups are leading a movement that aims to enhance food security and transform African agriculture into a model of economic viability and sustainability.
- Nile, a business-to-business (B2B) marketplace seeks to modernise agricultural trade by enabling direct connections between farmers and buyers.
- Another entity, Sand to Green, employs advanced agroforestry practices and technology to transform arid desert lands into fertile agricultural zones.
In the face of a future where 140 million people in Africa confront acute food insecurity, the emergence of foodtech startups across the continent is starting a new phase in agricultural practices and food production.
Armed with innovative technologies and visionary approaches, these startups are leading a movement that aims to enhance food security and transform African agriculture into a model of economic viability and sustainability.
A trio of visionaries from Amazon, JP Morgan and Luno have established a digital insurance platform Nile, a business-to-business (B2B) marketplace that …
- Hormuud Telecom has launched the 5G network across Somalia, enhancing the speed of internet and communication.
- This marks a significant leap towards a digitally inclusive society with reliable internet connectivity in the country.
- A 5G networks is set to stimulate economic growth, create jobs, and revolutionize public services such as healthcare and education.
Hormuud Telecom has unveiled its 5G network, marking a historic moment for its main market Somalia, which now enters into the elite group of African nations such as Kenya and Ethiopia that have embraced this cutting-edge technology.
Hormuud Telecom 5G signal is now present across 30 cities and towns, promising to revolutionize the speed of the internet and communication and transform Somalia’s digital economy.
Enhancing Communication with 5G Technology
The introduction of the 5G network by Hormuud Telecom signifies a monumental leap in improving internet connectivity’s speed and reliability across Somalia. President Hassan Sheikh Mohamud, along …
- Sub-Saharan Africa has seen the fastest increase in worldwide Internet penetration, from less than 1 per cent in 2000 to 30 per cent now. The use of the internet in Africa increased by 23 per cent between 2019 and 2021
- The Internet Society has been at the forefront of supporting the construction and growth of worldwide Internet penetration(IXPs), which permit and stimulate local traffic
- The Internet Society has assisted in the development of community networks in South Africa, Zimbabwe, Uganda, Nigeria, Kenya, Namibia, Senegal, Morocco Ethiopia. And the Democratic Republic of the Congo
As the Internet Society (ISOC), a global non-profit organisation that advocates for an open and globally linked Internet, celebrated its 30th anniversary, the organisation demands urgent action to advance Internet growth throughout the African region.
Dawit Bekele, the Africa Regional Vice President of the Internet Society, lauded stakeholders’ progress in expanding access across the continent while encouraging …
- Banking industry in South Africa staged a strong come back in 2021 in report by PWC.
- Banks enjoyed supportive credit conditions in the economy of South Africa.
- Banking industry is widely seen as a proxy of the general economy in South Africa
- South African economy has returned to pre-pandemic levels as evidenced by the financial performance of banks according to PWC
The banking industry in South Africa is in for good times according to a report by PWC. The banking industry sector analysis and report by the global management consulting firm published in March 2022 reports that the major South African banks delivered strong financial performance against what PWC described as “supportive conditions”.
The banking industry had combined headline earnings of ZAR 86.8 billion which represented a 99% increase from 2020 financial year levels. Banks had a combined return on equity (ROE) of 15.9% compared to 8.3% achieved in 2020, …
- M-Shwari accounts for 29% of the local market share, followed by KCB M-Pesa at 12%, then Equity Eazzy, Tala and MCo-op Cash at 4%, 1.8% and 1.3%, respectively
- 55 of every 100 people acquire loans from digital lending applications
- Most Kenyans prefer digital lending platforms due to convenience, easy access and fast loan remittance
As part of its overall mission, DIGILOGIC aims at developing a trend radar of the latest digital logistics technology trends with a focus on Africa. The trend radar is foreseen to be a dynamic, living tool that captures the development of business and especially technology.
It will be continuously extended and enriched with examples from industry and research, which is why DIGILOGIC interviews experts for their perspectives on the digital logistics sector in Africa.
Fabio Scala is the founder of FurtherAfrica, a business intelligence platform for senior professionals looking for information on finance, development, the economy and investment opportunities in Africa.
As part of the DIGILOGIC project’s High-Level Advisory Board of experts, Fabio helps us with his fellow industry experts supporting the project by assessing our results, raising awareness of the project, and taking part in our activities. It is within his capacity that he joined Toyin Dania for this …
The instant currency exchange service offered by Grey enables its customers to have virtual international bank accounts for free, helping small businesses, freelancers, remote workers, and content creators in Kenya to enjoy a seamless payment process.
Today, thousands of young Kenyans access work opportunities through digital platforms in a rapidly growing gig economy.
The online gig economy is fuelled by a burgeoning young workforce, internet and smartphone penetration, and mobile money proliferation. With Africa having the youngest workforce yet with high unemployment rates, online gig work provides alternative and accessible employment opportunities and a path to economic prosperity for the youthful workforce.…
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Despite this, the “SANGO” cryptocurrency project, which will be released in the near future, is open to prospective investors, who can register on a waiting list on the official website.
In a statement released on Monday, Touadera stated that “a formal economy is no longer an option.” “We are being held hostage by a bureaucracy that is impossible to navigate, and as a result, we are unable to change to more competitive solutions.”
Gourna Zacko, who is the minister of digital economy and telecommunications, and Calixte Nganongo, who is the minister of finance, were the driving forces behind the passage of the Bitcoin bill in the National Assembly of the country, which was done with the intention of “economic recovery.”…