Briclinks Africa, an Internet Service Provider, reported a gross profit of N46.28 million for the fourth quarter of 2024, up 3.72 per cent from the N44.62 million earned in the third quarter. The fourth quarter turnover for the company was N128.54 million, up three percent from N124.80 million in the previous quarter, according to the […]

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 […]

Uber announced the launch of its innovative Courier Bakkie service in South Africa on Thursday, marking a significant step for the company as it aims to cater to the unique needs of local consumers and businesses.  Thanks to this new service, users can now request on-demand bakkies—light trucks that are frequently utilised in South Africa—for […]

The Shoprite Group has unveiled GetPaid, a cutting-edge new platform that makes it easy for small company owners to send invoices and get paid at any time or location. This new development was announced on Tuesday. GetPaid eliminates the need for smaller businesses to deal with the problems of lengthy wait times between service delivery […]

Naspers SA on Monday announced that Phuthi Mahanyele-Dabengwa, the current CEO of Naspers South Africa, will join the company’s board. Mahanyele-Dabengwa’s appointment to the board is seen as a significant move for the company, reflecting its commitment to leadership diversity and strategic growth. Read also: MTN extends Ralph Mupita’s CEO tenure by five years Background […]

A petition against the South Africa Revenue Service’s decision to close a tariff loophole on clothing imported from stores like Shein and Temu has amassed thousands of signatures. Before November 1, importers were required to pay VAT and a 45 percent tax on clothing priced over R500. For items under R500, however, a “concession” was […]

The top downloaded app in Nigeria’s Google Play Store and Apple software Store right now is Temu, a Chinese e-commerce firm. With more than 500 million downloads on the Android store, the app has become the most popular just a few days after entering the Nigerian market. OPay is currently the second most popular app […]

After a successful four-year run in South Africa, Yaga, a popular preloved goods marketplace app, has officially expanded its operations to Kenya. With nearly 2 million items sold and KSh 4.2 billion earned by sellers in South Africa, Yaga is set to transform the Kenyan market for second-hand goods. Top sellers on the platform can […]