SUKHIBA, a Kenyan commerce and CRM platform, has successfully completed a $1.55 million seed extension round led by EQ2 Ventures. This latest funding round saw participation from top-tier investors including Accion Venture Lab, Musha Ventures, Quona Capital, and existing investor CRE Ventures. The funds will be instrumental in scaling SUKHIBA’s operations and enhancing its SaaS platform.
iColo, a carrier-neutral data center infrastructure provider, has announced the addition and commissioning of over 650 kilowatts (kW) of new solar installations at its data center campuses in Nairobi and Mombasa. This significant investment in renewable energy underscores iColo’s commitment to sustainability and its support for customers’ renewable energy goals.
Family Bank has reported a 15.4 percent increase in profit before tax, reaching Sh2.32 billion for the first six months of 2024. This growth is attributed to a rise in interest income, demonstrating the bank’s strong performance amid challenging economic conditions.
Diamond Trust Bank (DTB) has reported a notable 12 percent increase in net profit, reaching Sh4.9 billion for the half year ended June 2024. This growth marks a significant achievement for the bank, reflecting its robust performance and strategic expansion.
Absa Bank has announced a significant 29 percent increase in profit after tax, reaching Sh10.7 billion for the first half of 2024. This growth reflects the bank’s successful strategy in boosting revenue across its various business segments and meeting the increasing demand for soft loans, despite a challenging economic environment characterized by reduced consumer spending.
Starlink, the satellite firm led by billionaire Elon Musk, is set to revolutionize mobile connectivity with its new Direct to Cell service. This innovative strategy aims to integrate Internet and mobile services directly into subscribers’ phones, enhancing market reach and service accessibility.
The newly-rebranded Africa-focused venture capital firm, 54 Collective, is set to transform start-up investments on the continent by moving away from the traditional Silicon Valley plug-and-play model. Formerly known as Founders Factory Africa, 54 Collective aims to provide comprehensive support tailored to the unique needs of African start-ups.
Vodacom and Huawei have launched the DigiTruck in Tanzania, a groundbreaking initiative designed to bridge the digital divide and enhance digital literacy across the country. This mobile classroom aims to provide essential digital skills training to over 5,500 individuals annually, including students, women, the elderly, and youth, across ten regions.
