Amazon Web Services (AWS) has reported a remarkable 19% increase in revenues for the three months ending June 30, reaching $26.3 billion. This performance surpasses analysts’ expectations of $26.02 billion, marking a significant milestone for AWS.
Jubilee Asset Management, a subsidiary of Jubilee Holdings, has introduced a new dollar-denominated fund, the Jubilee Money Market Fund (USD). This fund is now accessible to both retail and institutional investors with an initial minimum investment of $1,000 (Sh130,000) and requires minimum top-ups of $500 (Sh65,000).
Equity Bank Group has announced a landmark Sh2.8 billion scholarship fund aimed at supporting 113 students admitted to top global universities. This significant initiative is part of the Equity Leadership Program (ELP), the bank’s social arm dedicated to fostering educational excellence.
Zoho, a global technology leader, has significantly expanded its tech upskilling initiatives across Africa, enhancing its commitment to technological development on the continent. The company unveiled several new programs and partnerships during its annual user conference, Zoholics South Africa.
SEACOM, marking its 15th anniversary of enhancing connectivity across Africa, has announced a key leadership change. Sajid Khan, formerly managing director of SEACOM’s East Africa division, has been appointed as the managing director for group digital services.
Lucky ONE, the leading Egyptian consumer credit fintech, has successfully secured $3 million in a convertible note. This funding is a crucial milestone in its journey towards achieving profitability by Q1 2025.
MTN Nigeria has announced the successful acquisition of a 7.17% minority interest in Mobile Money Payment Service Bank (MoMo PSB) from Acxani Capital for approximately $4.36 million. This strategic investment marks a significant development for MTN Nigeria, as it now holds full ownership of MoMo PSB.
MTN Uganda has reported impressive growth in its home broadband sector for the second quarter of the current financial year, significantly boosting its service revenue. The telco achieved a remarkable 130% increase in active subscribers, underscoring the success of its broadband plan in a highly competitive market.
