The Ethiopian Capital Market Authority (ECMA) has awarded Ethio Capital Solutions PLC a Securities Investment Advisor licence, in an announcement on Wednesday, marking a major turning point for Ethiopia’s developing financial industry. This development is a significant step towards broadening the range of services and expertise offered by Ethiopia’s capital market. Read also: Ethio Telecom […]

WigWag has officially rebranded as Stitch Express to enhance e-commerce payments, a move announced on Thursday. This transition aims to streamline online transactions for businesses and customers, integrating seamlessly into the Stitch digital payment ecosystem. Read also: Paymob and Woo join forces to boost e-commerce growth in the region Enhancing E-Commerce transactions The rebranding from […]

On Tuesday, Telecom Egypt announced the signing of a number of historic technology service agreements with Orange Egypt in an effort to strengthen their strategic partnership. Through these agreements, Orange Egypt will be able to improve its technology offerings and better serve its clientele. This partnership demonstrates how technical expenditures have increased in the Egyptian […]

In the first half of 2024, Ethio Telecom paid taxes totalling ETB 23.74 billion to the government and repaid a foreign loan of ETB 1.8 billion (about $15 million), according to its 2024/2025 Semi-Annual Business Performance Report released on February 12. Read also: Ethio Telecom launches 5G technology in Jimma City Completion of 202 mobile […]

In a move to strengthen Africa’s social enterprise ecosystem, Muazu Africa is set to launch an innovative initiative aimed at preparing social entrepreneurs to scale their solutions and attract critical funding. The program, called Product SKL x Muazu Africa, kicks off on February 22, 2025, and promises to empower product-based social enterprises with the tools […]

The Rwanda Stock Exchange (RSE) and the Ethiopian Securities Exchange (ESX) have signed a Memorandum of Understanding (MoU) in a calculated effort to promote cooperation and improve the sustainability and efficiency of the region’s capital markets. The collaboration which was revealed in a press release on Friday marks an important turning point in the two […]

According to Safaricom Ethiopia, the number of registered M-PESA users increased by 245 percent to 10.8 million as of December 2024, from 3.1 million in December 2023. Cross-border money transfers and airtime purchases were the main drivers of this rise. The total revenue of M-PESA decreased by a staggering 74 percent to roughly $75,969 in […]

Foodics, a leading restaurant technology provider headquartered in Saudi Arabia, announced on Tuesday its acquisition of Solo Venture and investments in three promising startups. This bold move underscores the company’s commitment to revolutionising restaurant management and enhancing operational efficiency in the food and beverage industry. Read also: Tunisian fintech startup EasyBank secures $370,000 in funding […]

On Wednesday, The Tony Elumelu Foundation (TEF) announced a $6 million strategic partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation to support African entrepreneurs.  The agreement, signed at the World Government Summit, aims to provide 1,000 young African entrepreneurs with business training, mentorship, network access, and $5,000 […]

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 […]