Vodacom and Orange in Talks to Enhance Rural Connectivity
odacom Group Ltd and French telco Orange SA are in discussions to form a strategic partnership aimed at enhancing infrastructure and connectivity across Africa.
Month: May 2024
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850,000 New Jobs Were Created in 2023
Kenya witnessed the creation of at least 848,200 new jobs in 2023, even amidst a challenging economic environment where many firms opted for retrenchment to reduce operational costs. The Kenya Economic Survey 2024, released by the Kenya National Bureau of Statistics (KNBS), reveals that the informal sector was a significant contributor, accounting for 720,900 of these jobs, which is 85% of the total.
Visa’s Second Accelerator Program Shortlists 20+ African Fintechs
Visa has announced the startups shortlisted from across Africa to participate in the second cohort of its Africa Fintech Accelerator program. This 12-week program offers 1:1 mentorship and personalized training, providing seed to Series A startups with exclusive opportunities to access funding, development, and resources. The program reflects Visa’s commitment to fostering innovation and supporting the digital economy across the continent.
Kenya’s Export Earnings Reach Record Sh1 Trillion
Kenya has achieved a significant milestone with its export earnings growing by 15.4% in 2023, reaching Sh1 trillion for the first time in history. This historic achievement underscores the nation’s growing economic strength and resilience in the global market.
EV Company Spiro Secures $50M Deal for African Expansion
Spiro, an electric vehicle company, has secured a $50 million debt financing agreement with Afreximbank to accelerate its expansion into Cameroon and Morocco this year. This funding will be utilized to enhance Spiro’s network of automated swap stations and introduce new electric bike models, making green mobility solutions more accessible and convenient.
Tala Kenya Plan to Launch a Savings Product to take on Branch
Digital lender Tala Kenya is set to launch a savings product targeting its 3.5 million customers, diversifying beyond lending. This new offering, piloting later this year, aims to transform Tala into a full-service financial provider.
KCB Adopts Solar Energy in Response to the Frequent Power Outages
KCB Group is leading the way in sustainable banking by adopting solar energy solutions in its branches. The bank has successfully installed solar panels in two branches as a pilot project and plans to extend this initiative to 19 more branches by the end of 2025.
Fabricio Bloisi Appointed as New Group CEO for Naspers
Naspers and its international internet assets division, Prosus, are pleased to announce the appointment of Fabricio Bloisi as Group CEO, effective July 1st. Bloisi, currently the CEO of iFood, brings a wealth of experience and innovation to his new role, succeeding Bob van Dijk who led Naspers since 2014 and Prosus since its IPO in 2019.