South Africa’s Scale Raises $700,000 for Card Issuance Platform
Scale, a South African FinTech startup, has raised $700,000 in pre-seed funding to support its card-issuing orchestration platform. The platform streamlines the process for FinTechs to issue cards by connecting them with…
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Twiga Foods Faces Tough Times, fires 59 Employees
The Kenyan Agritech startup, Twiga Foods will lay off 59 employees as it plans to restructure…
MTN’s Billion-Dollar Mistake: The Visafone Story
The Visafone chapter has closed for MTN, but not without a hefty price tag. The company…
Nigeria Squanders Over ₦100 Billion on Unproductive Space Program
Between 2021 and 2023, Nigeria spent ₦101.744 billion on its space program, which 2016 promised to…
Hohm Energy in Trouble Months After $8M Raise, CEO Resigns
The South African solar startup, Hohm Energy, is currently suspending operations due to financial challenges, including…
Jumia Cuts Losses to $19M (₦30bn) Despite Forex Challenges
In its pursuit of profitability, Jumia meticulously reduced losses in Q2 2024 through sales and marketing…
Kenya Reduces Interest Rate to 12.75% Amid Cooling Inflation
In July, the Central Bank of Kenya (CBK) announced it would reduce the interest rate by…
Unity Bank Seeks ₦700 Billion Support from CBN for Providus Bank Merger
The Central Bank of Nigeria (CBN) has announced that it will provide a facility to support…
Access Bank Lowers Stake in Botswana Subsidiary for Regulatory Compliance
To comply with the listing requirements of the Botswana Stock Exchange (BSE), Access Bank has reduced…