Visa, a global leader in digital payments, announced on Wednesday strategic venture investments in four startups that graduated from the inaugural Visa Africa Fintech Accelerator program cohort. This move underscores Visa’s commitment to supporting Africa’s fintech ecosystem, fueling digital transformation, and advancing financial inclusion across the continent. The investments not only highlight Visa’s focus on […]
Kenyan fintech startup Chumz, which provides users with an innovative mobile platform for goal-based saving and investment, is poised for regional expansion as it prepares to launch in Rwanda. This move comes after reaching a significant milestone in its home market, with over 200,000 registered users utilizing the app to set and achieve financial goals […]
In an electrifying development in U.S. politics, former President Donald Trump claimed victory in the 2024 presidential election during an election night event at the West Palm Beach Convention Center. With early results placing him ahead of Vice President Kamala Harris, Trump pledged to “heal” the nation, setting the stage for a return to the […]
Coca-Cola Beverages Africa (CCBA) has committed a significant $50 million investment to expand its operations in Namibia by launching a state-of-the-art bottling line at its existing plant. This expansion is expected to increase production capacity by 30%, enabling the facility to produce an impressive 27,000 bottles per hour. This latest development underscores CCBA’s dedication to […]
In a decisive move to bolster Africa’s fintech ecosystem, Visa has announced investments in four fintech startups as part of its Visa Africa Fintech Accelerator program. This initiative aligns with Visa’s strategic commitment to advancing digital innovation, financial inclusion, and economic growth across the continent. The selected companies include Ghana’s Oze, Kenya’s Workpay, Nigeria’s OkHi, […]
In a move poised to reshape cross -border investment within Asia, Labuan-based Roths Investment Bank (RIB) has formed a high-impact partnership with Central Wealth Group Holdings Ltd (CWG), a prominent financial services institution headquartered in Hong Kong. This collaboration is set to enhance RIB’s ability to streamline cross-border investment access across Southeast Asia, Hong Kong, […]
In a challenging third quarter, MTN Nigeria Communications Plc reported a loss after tax of N514.9 billion for the nine months ending September 30, 2024, primarily due to the ongoing economic struggles facing Nigeria. The telecom giant’s financial performance was significantly impacted by the devaluation of the naira, a decline in subscribers, and an inflationary […]
In a remarkable turnaround, the Nairobi Securities Exchange (NSE) has seen an impressive surge in investor wealth, with capitalization gains reaching KSh 419.5 billion by the end of October 2024. This increase reflects a growing market confidence bolstered largely by domestic investors and positive economic indicators. The bullish trend has translated into an exceptional 29.2% […]
iCapital, a leading global FinTech platform that facilitates access to alternative investments for wealth and asset managers, has entered into a definitive agreement to acquire AltExchange, a cutting-edge data aggregation and management provider. This acquisition is set to elevate iCapital’s data management capabilities and enhance its technology infrastructure, ultimately offering advisors and asset managers more […]
Standard Chartered, a global banking leader in cross-border finance, and British International Investment (BII), the UK’s development finance institution and impact investor, have announced the renewal of a $350 million risk participation agreement. This strategic facility is designed to bolster the trade finance needs of small and medium-sized enterprises (SMEs) and larger corporations across Africa […]
The financial stability of Kenya, a key economic hub in East Africa, has come under scrutiny as the nation's foreign...
In a significant revision to its economic outlook, J.P. Morgan now expects the U.S. Federal Reserve to cut interest rates...
In a landmark development for its economy, Nigeria's crude oil production has officially crossed the 1.8 million barrels per day...
In a major development for Nairobi's urban landscape, the European Investment Bank (EIB), through its specialized development arm, EIB Global,...
