Business
Business

Jumia Navigates Challenges – Staff Layoffs, Exit from Food Delivery, and Q4 2023 Results

Jumia, one of Africa’s leading e-commerce platforms, made headlines in January 2024 as it laid off employees across various African markets, including Kenya, just a month after exiting its food delivery business, Jumia Food. The company, facing the harsh reality of the food delivery market’s sustainability, opted for significant organizational adjustments to optimize capital and […]

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Business

Mastercard and Boost team up to offer digital payment solutions to businesses

Global Fintech giant, Mastercard and Boost, a B2B commerce startup, have announced a partnership that would empower African businesses in the Fast-Moving Consumers Goods (FMCG) Sector with digital payment solutions for their customers and financial aid to grow their businesses. The partnership is geared at providing support to SMEs in the FMCG sector, with access […]

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African Entrepreneurship

Empowering Africa’s Tomorrow: Meet 8 Fearless Female Entrepreneurs Transforming Africa’s Future

In the dynamic landscape of African entrepreneurship, several remarkable women stand out, making significant strides in diverse industries. These trailblazers not only exemplify resilience and innovation but also contribute to shaping the future of their respective fields; leading innovative companies and playing pivotal roles in shaping various industries. Here, we spotlight some of the top […]

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Business

Kenya’s Twiga Foods secures new funding, amid plans to pay off over 100 suppliers

Twiga Foods, the Kenyan startup celebrated for its role in optimizing the food supply chain in Africa, has secured undisclosed funding through a business refinancing process. This development comes just weeks after facing a KES 40 million (USD 261,878.75) debt collection lawsuit from Incentro Africa, a cloud services vendor.  The new funding, orchestrated as part […]

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Business

Not Another Shutdown: Zazuu, Dash, and the Ominous Echo of African Tech’s Dismal 2023

The year 2023 has become, to players and investors in the African tech scene, an unexpected chapter marked by the unraveling of once-promising startups. The echoes of a vibrant 2021 and 2022, where the African tech ecosystem thrived, have now given way to a sobering reality of closures, financial struggles, and dashed aspirations. The Rise […]

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Business

Access Bank Pledges N30bn Strategic Investment to Empower MSMEs for Sustainable Growth

Retail Banking giant, Access Bank Plc, has set its sights on fostering economic empowerment with a significant investment of N30 billion into the Micro, Small, and Medium Enterprises (MSME) sector. The fund, specifically targeted to women and youth entrepreneurs, is billed to usher in financial support and growth for this very important, but underrepresented group.  […]

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Business

Titi Cole: Navigating Change and Paving the Way in Banking

In the intricate landscape of global banking, few women stand out as Titi Cole, a seasoned navigator whose career has seen her steer through numerous transitions, and shape the future of a banking industry in flux. Currently serving as the Head of Legacy Franchises at Citigroup, she oversees consumer businesses across Asia, Europe, the Middle […]

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Business

12-Year Streak: Dangote Retains Crown as Africa’s Richest Man

Dangote’s $15.6 billion net worth secures his position as Africa’s wealthiest individual, according to Bloomberg In a recent announcement by Bloomberg, Aliko Dangote, the President of Dangote Group, has once again emerged as the wealthiest individual in Africa. With a staggering net worth of $15.6 billion, Dangote topped the list of African billionaires, solidifying his […]

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Business

Apple to lose 6 million new Iphones to Chinese factory disruption

Apple’s production factory located in Zhengzhou, China will produce 6 million less iPhones this year, according to a report by Bloomberg. The facility which is in charge of mass producing the recently released iPhone 14 has been hit by incessant protests and walkouts by employees over issues concerning Covid lockdowns and their pay. Protests have […]

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Business Startups

Kenya’s ARA drops fraud and laundering allegations against Nigerian fintech Korapay

Kenya’s Asset Recovery Agency (ARA) has dropped the allegations of laundering and fraud leveled against Korapay, a Nigerian payment company (TechCabal). In July, the ARA, which is charged with identifying and confiscating proceeds of crime committed in the East African country, had brought two separate suits against Korapay and Kandon Technologies Limited, another Nigerian fintech […]

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