CPF Financial Services has announced a 5.3% rise in net assets for the year ending December 2023, reaching Sh73.1 billion, up from Sh69.4 billion. This impressive growth is largely driven by strategic investments, particularly in government securities, fixed deposits, and real estate.
Safaricom has surged ahead in the 5G race, now operating 803 5G sites across 43 counties in Kenya, as disclosed in its latest annual report. This significant milestone marks a notable shift from last year, where Safaricom trailed behind Airtel with 205 sites compared to Airtel’s 370. Now, Safaricom’s expansive network underscores its commitment to delivering super-fast internet speeds to customers nationwide.
Airtel Zambia and Zambia Industrial Commercial Bank Limited (ZICB) have joined forces under a Memorandum of Understanding (MoU) to enhance the business landscape for Zambia’s Small and Medium Enterprises (SMEs). As part of this collaboration, Airtel will provide state-of-the-art 4G and 5G Internet devices to ZICB’s SME clients at no cost, contingent upon their registration for the bank’s Internet banking platform and commitment to monthly bundles.
The United Nations Development Programme (UNDP) is embarking on a groundbreaking initiative to raise $1 billion in collaboration with African governments and private sector partners. This initiative aims to establish a network of 10 technology hubs across Africa, fostering innovation and supporting startup growth continent-wide.
Africhange, a leading Nigerian remittance services provider, has expanded its operations with a launch in the United Kingdom (UK), enhancing its global footprint. The platform, accessible via website or mobile app, empowers users to seamlessly send money across borders, initially focusing on corridors between Canada, Nigeria, Australia, and the UK.
The Kenya Tourism Board (KTB) is spearheading a new era in Kenya’s tourism landscape by leveraging public-private partnerships to enhance adventure tourism opportunities. CEO June Chepkemei highlighted adventure tourism’s resilience and economic benefits, emphasizing its potential to attract more visitors and support local communities alongside traditional attractions like wildlife and beaches.
Innovate Africa Fund, co-founded by Kristin Wilson and Christian Idiodi, has kicked off with an initial $2.5 million rollout to support early-stage startups across Africa. This sector-agnostic fund aims to nurture up to 20 startups in its first year, focusing on innovative solutions to tackle pressing challenges like insecurity, unemployment, and poverty through purpose-driven technology.
Nala, an African remittance startup, has raised a remarkable $40 million in Series A funding, marking one of the largest transactions of its kind in Africa. This round, oversubscribed and led by Acrew Capital, with support from DST Global and other notable investors, underscores confidence in Nala’s vision and growth potential.
