Microsoft and AI company G42 have teamed to build a $1 billion Kenya-based data center. The collaboration, according to a Wednesday (May 22) news release, marks the largest digital investment in the history of the African nation, and will see the two companies join forces to create a new cloud...
A Binance executive who fled Nigerian custody last month has reportedly been found in Kenya. Nadeem Anjarwalla, a British-Kenyan who is the cryptocurrency giant’s regional manager for Africa, escaped after weeks of being held in Nigeria along with a second executive. He has since been located in Kenya and is facing...
FairMoney, a digital bank based in Lagos and headquartered in Paris, is reportedly in talks to acquire Umba, a digital bank operating in Nigeria and Kenya. The talks involve a $20 million all-stock deal, but negotiations are in their early stages, TechCrunch reported Tuesday (Feb....
Kenyan lender Credit Bank reportedly plans to raise 1 billion shillings (about $6.89 million) through an initial public offering (IPO) on the Nairobi Securities Exchange (NSE). The move would mark the first IPO on the NSE since 2014 when the exchange listed itself, Bloomberg reported Monday (Aug. 28). However, the timing...
July 06, 2023
In 2019, Meta CEO Mark Zuckerberg said it was time to simplify money movement and make sending money to someone as easy as sending a photo. However, what that statement, seen as groundbreaking back then, failed to acknowledge is that Africans have been sending and receiving money without traditional bank accounts for over a decade […]
May 01, 2023
Real-time payment systems have become increasingly popular around the world due to the rise of digital payments and the need for faster and more efficient financial transactions. Some of the...
December 23, 2022
After reaching new heights in 2021, VC funding in EMEA slowed sharply in 2022. While final full-year tallies are not settled yet, data from the first three quarters suggests that...
May 07, 2018
Building, sustaining and growing a small business isn’t easy in the best of circumstances. Even in a developed economy, margins are narrow, and tough decisions must be made daily, if...
September 19, 2024
Mastercard has launched a partnership with East African telecom Safaricom. The collaboration, announced in a news release Thursday (Sept. 19), is designed to boost the adoption of payment acceptance and cross-border remittance services in Kenya for the benefit of more than 636,000 merchants using M-PESA, Safaricom’s mobile money service. “Kenya’s payment acceptance market continues to […]
May 22, 2024
Microsoft and AI company G42 have teamed to build a $1 billion Kenya-based data center. The collaboration, according to a Wednesday (May 22) news release, marks the largest digital investment in the history of the...
April 22, 2024
A Binance executive who fled Nigerian custody last month has reportedly been found in Kenya. Nadeem Anjarwalla, a British-Kenyan who is the cryptocurrency giant’s regional manager for Africa, escaped after weeks of being held...
February 20, 2024
FairMoney, a digital bank based in Lagos and headquartered in Paris, is reportedly in talks to acquire Umba, a digital bank operating in Nigeria and Kenya. The talks involve a...
