On Thursday, Japanese auto giants Honda and Nissan confirmed that they have ceased merger discussions, which were initially announced in December.  This decision ended the potential formation of what would have been the world’s third-largest automaker. Read also: Honda, Nissan announce historic merger to compete with EV market leaders Why the merger ended The cancellation […]

P1 Ventures, an early-stage Pan-African venture capital firm established in Egypt in 2020, has announced the closing of its first institutional fund with USD 50 million. This milestone arrives amid a challenging period for African venture capital as foreign investors have returned to safer, more established markets. “We have strong conviction there will be billions […]

Vodafone Group Plc (“Vodafone”) on Friday announced the appointment of Guillaume Boutin as CEO of Vodafone Investments & Strategy and a member of the Group Executive Committee. Guillaume is to take over from Serpil Timuray in May, anticipated to exit²wŵ Vodafone in June after a fruitful 15-year career, in order to seek opportunities outside of […]

Sonelgaz and Siemens Energy have signed a Memorandum of Understanding (MoU) to drive energy collaboration and innovation. The agreement, signed by Mourad Adjal, President and CEO of Sonelgaz, and Christian Bruch, CEO of Siemens Energy, in Berlin, Germany, cements a new phase in their partnership, positioning Algeria as a key player in the global energy […]

Global cybersecurity giant Sophos has finalised the acquisition of SecureWorks in an all-cash deal worth about $859 million. Per the agreement, supported by software investment firm Thoma Bravo, Secureworks, a significant cybersecurity player, will join Sophos to strengthen its Managed Detection and Response (MDR) services. The addition of Secureworks’ experience will improve Sophos’ security operations […]

InDrive, a ride-hailing service active in nine African countries, is rolling out a bank transfer feature in Nigeria.  The feature, dubbed “Light Cashless,” enables drivers to display their preferred bank account details within the app, allowing passengers to copy and paste the information for direct payment. InDrive announced this addition on February 5, 2025. Read […]

In a statement released on Tuesday, the government of the Republic of Zambia revealed plans to create a payment gateway for organisations, including local authorities. It is anticipated that this cutting-edge platform would completely transform the way that citizens pay for taxes and services while guaranteeing that the appropriate organisations get money straight into their […]

The ride-hailing service Bolt has introduced Trusted Contacts, a feature that lets drivers and passengers add friends or family to their accounts. This way, Bolt’s Safety Team can get in touch with them in the event that the account holder is unavailable. The business made this claim in a statement on Saturday. This innovation, which […]

On Wednesday, Moove, an innovative mobility fintech backed by Uber, announced its acquisition of Kovi, a Brazilian urban mobility provider. This strategic move is set to elevate Moove’s annual recurring revenue (ARR) to an impressive $275 million. Co-founded by Ladi Delano and Jide Odunsi, Moove has rapidly expanded since its inception in 2020. Initially launched […]

According to industry figures published on Friday by the Communications Authority (CA), Airtel Money‘s market share increased somewhat from 6.6 per cent in the last quarter of 2023/2024 to 7.6 per cent in the three months leading up to September 2024. In the mobile money industry, Safaricom’s M-Pesa remained the market leader, but its market […]

In a region where e-commerce is rapidly evolving, Paymob and Woo’s partnership is set to revolutionise how businesses operate online.  This strategic alliance, announced on Wednesday, aims to empower merchants in the Middle East and North Africa (MENA) with seamless payment solutions, enabling them to scale their businesses more effectively. Read also: Paymob introduces Apple […]

Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), introduced the Nigeria Foreign Exchange Code (FX Code), highlighting honesty, equity, openness, and efficiency as essential tenets for promoting stability and economic progress in Nigeria. According to the statement which was released by the CBN on Tuesday, Ethics, governance, execution, information sharing, risk management, […]

Nduka Obaigbena, the Chairman and Editor-in-Chief of ThisDay Media Group and Arise Group, has accused First Bank of severely mishandling an oil contract, resulting in 93 workers being stranded and facing life-threatening conditions aboard an oil rig. Obaigbena’s company, General Hydrocarbon Limited (GHL), is involved in a legal dispute with First Bank over an oil […]