Meta announced on Wednesday that it will launch a new test allowing users to browse eBay listings on Facebook Marketplace and complete purchases directly on eBay. The test will be available in Germany, France, and the U.S. as part of Meta’s ongoing efforts to expand its Marketplace platform. In November, Meta was fined $840 million […]

The Central Bank of Nigeria (CBN) has announced the immediate suspension of extensions for export earnings repatriation requests, according to a circular issued on Thursday. This new policy, effective January 8, 2025, applies to both oil and non-oil export operations and represents a significant shift in the country’s trade and foreign exchange regulations. Dr. W.J. […]

Mashreq Bank on Monday, announced the completion of its sale of a majority stake in NEOPAY, a digital payments provider, to a consortium led by DgPays and Arcapita Group for $385 million. This strategic move allows Mashreq to retain a minority stake, ensuring ongoing support for NEOPAY’s growth. Read also: GTCO secures N209.41 billion in […]

On Tuesday, two of the biggest image agencies in the world, Shutterstock and Getty Images, announced their intention to merge, creating a massive force in the visual content industry. The companies said in a joint statement that they want to combine their massive image platforms and save $150 million to $200 million over the three […]

MTN Group Limited on Tuesday announced that it had completed the sale of its operations in Guinea-Conakry to the State of Guinea. This deal is in line with MTN’s Ambition 2025 strategy, which focuses on portfolio simplification and optimisation. The signing of the acquisition agreement, which was finalised on December 30, 2024, in the presence […]

Alibaba announced its entry into the African market on December 20, launching operations in Morocco, marking a major milestone for the Chinese e-commerce giant.  This initiative aims to empower local businesses, especially small and medium-sized enterprises (SMEs), to access international markets, particularly in North America. Read also: Konga to launch AI-powered radio station Morocco, a […]

Honda and Nissan on Monday announced plans for a historic merger to create the world’s third-largest automaker. This decision comes in response to the escalating competition in the electric vehicle (EV) market, particularly from Chinese manufacturers like BYD and global giants such as Tesla.  Honda’s CEO, Toshihiro Mibe, emphasised the urgency: “We need to build […]

Airtel Africa, a prominent telecoms and mobile money provider with operations in 14 African nations, has announced the start of a second share buyback program that will provide shareholders a maximum return of $100 million. The buyback of shares is a reflection of the Board’s belief in the firm’s capacity for further expansion, the stability […]

MoEngage, a consumer data and engagement platform and Jumia have forged a strategic alliance aimed at revolutionising customer experience in Africa. This partnership will improve Jumia’s engagement strategy by providing millions of African users with more individualised offerings, according to a statement released by Jumia Group on Friday. “As part of its mission to provide […]

Payaza Africa Limited on Friday obtained FMDQ Exchange approval for a N50 billion commercial paper program. It boosts liquidity and helps the company increase operations, a key growth strategy step.  The vision behind Payaza Payaza, founded by visionary entrepreneur Tunde Ogunmola, wants to improve African financial services for the unbanked and underbanked. Read also: Infratel […]

A group of investors led by Attijariwafa Ventures, Renew Capital, Digital Africa Ventures, Sunny Side Venture Partners, Plug and Play Africa, and 54 Collective has raised $1.5 million for Konnect Networks, a Tunisian fintech company that specialises in digital payment solutions. For the startup, the investment represents a major turning point as it looks to […]

1Vault was on Monday announced a pioneering super app to empower Nigeria’s small and medium enterprises (SMEs).  Founded by a quartet of technocrats —Babajide Padonu, Segun Adebirigbe, Kola Roberts, and Femi Adefaka— 1Vault aims to address the challenges faced by its predecessor, Flashbike. The team recognised the urgent need for better business management tools among […]

With the opening of Bolt Market, a new grocery delivery service in Nairobi, Bolt, a mobility platform well-known for ride-hailing and food delivery services, is growing its digital ecosystem. This calculated move aims to take advantage of the rising demand for on-demand, fast supermarket shopping. Through this growth, Bolt can capitalise on the rising need […]