November 7, 2024
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Courtroom to start listening to on wrongful termination go well with towards NIBSS in November
Technology

Courtroom to start listening to on wrongful termination go well with towards NIBSS in November

The hearing on the wrongful termination suit brought against the Nigeria Inter-Bank Settlement System (NIBSS), by its former Chief Risk Officer, Temidayo Adekanye, will begin on November 25 at the National Industrial Court in Lagos.…

Early-stage VC agency OpenseedVC launches with a $10 million fund for African startups
Technology

Early-stage VC agency OpenseedVC launches with a $10 million fund for African startups

OpenseedVC, an early-stage VC firm that was launched in 2024, has reached the first close of its $10 million fund for early-stage startups across Africa and Europe.  The $10 million fund is OpenseedVC’s first fund…

Subsequent Wave: What’s occurring in Kenya’s B2B area?
Technology

Subsequent Wave: What’s occurring in Kenya’s B2B area?

First published 19 May, 2024 Kenya’s e-commerce sector, once a picture of growth and innovation, faces a harsh reality for businesses catering to other businesses (B2B). The sector seems to be weeding out players, with…

CBN formally withdraws cybersecurity levy
Technology

CBN formally withdraws cybersecurity levy

Nigeria’s central bank has withdrawn a controversial 0.5% cybersecurity levy on electronic transfers three days before it was supposed to take effect. The Cybersecurity Act was amended in 2024 and the scope of the levy…

Kenya’s Copia mulls shutdown amid plans to put off over 1,000 workers
Technology

Kenya’s Copia mulls shutdown amid plans to put off over 1,000 workers

Copia Global, a Kenyan B2C e-commerce startup that has raised $123 million in venture funding across seven rounds, is considering laying off employees or shutting down, citing “uncertainties.” The layoffs, which could affect over 1,000…

Empty wallets, empty bellies: Meals inflation grips Nigerians
Technology

Empty wallets, empty bellies: Meals inflation grips Nigerians

For Olamilekan Kafaru, a bus driver in the Ikorodu area of Lagos, Nigeria, eating three square meals daily is almost impossible.  At a dizzying 40.53% increase, food inflation in the country is the highest in…

Spiro secures $50m debt funding from Afreximbank to develop electrical automobiles in Africa
Technology

Spiro secures $50m debt funding from Afreximbank to develop electrical automobiles in Africa

Spiro, an India-based electric vehicle company, has signed a $50 million debt financing deal with Afreximbank to expand its offering in its existing markets. The company operates in six countries: Benin, Togo, Kenya, Nigeria, Uganda,…

African CEOs in Kigali push for home-grown options to way forward for digital financial system
Technology

African CEOs in Kigali push for home-grown options to way forward for digital financial system

At least 2000 Africa’s chief executive officers, five heads of state, investors, and media are in Kigali from Thursday to Friday for the African CEO Forum 2024 to find digital-based solutions to the continent’s problems. …

ST Digital to construct extra knowledge centres in 3 francophone nations
Technology

ST Digital to construct extra knowledge centres in 3 francophone nations

ST Digital, a Cameroun-based cloud services and infrastructure provider that recently raised €10 million from UHURU Investment Partners, will build three data centres in countries within the Francophone region.  It will bring the number of…

Naspers appoints Fabricio Bloisi as CEO
Technology

Naspers appoints Fabricio Bloisi as CEO

Naspers, Africa’s largest company by market capitalisation worth R717 billion ($39 billion), has appointed  Fabricio Bloisi as  CEO. This follows the abrupt resignation of Bob van Dijk in September 2023. Like van Dijk, Bloisi will…

New JAMB outcomes launch Could 2024
Technology

New JAMB outcomes launch Could 2024

The latest update from the Joint Admissions and Matriculation Board (JAMB) reveals that new JAMB results for 2024, comprising an additional 36,540 outcomes from the Unified Tertiary Matriculation Examination (UTME), have been made available to…

Unique: Flutterwave loses ₦11 billion in safety breach
Technology

Unique: Flutterwave loses ₦11 billion in safety breach

One month after obtaining a court order to recover $24 million lost to unauthorised POS transactions, Flutterwave suffered another security breach that allowed unknown persons to divert billions of naira to several bank accounts.  The…