Digital now makes up 51% of US advertizing spending – Magna Report

Magna released a bullish assessment and forecast for US ad revenue in 2018 and 2019. The report covers all the major advertising and media categories including both digital and traditional media. Ad sales up, especially digital. Magna says that “net advertising sales” will grow by 6.9 percent this year to reach $207 billion, which is “a new all-time high.” And, for the first time, digital ad revenues surpassed 50 percent of total ad spending in the US. The company said that digital ad revenue in 2018 will reach $106 billion,…

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Bitcoin cash latest huge price gains outstrips those made by its more famous rival bitcoin

Bitcoin cash has experienced huge price gains that have outstripped those made by its more famous rival bitcoin, amid a major revival of the cryptocurrency markets. The bitcoin spin-off rose in value by around 45 per cent over the last 24 hours, taking its market cap above $4 billion for the first time since November 2018. One unit of the cryptocurrency is now worth $262 (£200), which is still a long way off the peak it reached in late 2017 of around $4,000. Bitcoin’s recent gains of around 25 per cent appear…

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Kenya accounts for 60 per cent of private equity investments to East Africa

Banking Crisis

Kenya accounted for more than half of funds pumped into the region by private equity (PE) and venture capital firms. A new report shows that Kenya received 59 per cent of the funds that private equity firms pumped into the region between 2013 and 2018. The report by the Africa Private Equity and Venture Capital Association (AVCA) indicates that there were 110 reported deals during the five years valued at Sh130 billion. Most of the money was invested in the consumer goods and technology sectors. Reports have in the recent…

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Online Marketplaces has potential to create 3 million jobs in Africa by 2025

Online marketplaces such as Jumia, Souq, Uber, and Travelstart could create around 3 million new jobs by 2025 across Africa. This is according to findings of a new report released today by Boston Consulting Group (BCG). Titled ‘’How Online Marketplaces Can Power Employment in Africa’’ the report notes that these digital platforms, which match buyers and providers of goods and services, could also raise incomes and boost inclusive economic growth with minimal disruption to existing businesses and workforce norms. Speaking during the launch of the report, Patrick Dupoux, a senior…

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MTN launches ‘world first’ WhatsApp-based Airtime Top-up service

MTN says it will become the first mobile network in the world to let customers buy airtime and data bundles and check their balances directly on Facebook-owned messaging platform WhatsApp. The service, MTN Chat, will help customers manage their accounts “off a secure and convenient platform they already know and love”, said Mapula Bodibe, MTN SA’s consumer business executive. “It’s imperative that companies focus on improving self-service experiences to retain and grow customers and this is an important step for MTN,” Bodibe said. Calling it a world first for the…

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Miss.Africa Digital Celebrates International Women’s Day With its Annual Seed Fund Application Drive

Miss.Africa Digital Seed Fund 2019

DCA Trust celebrated the Women’s Day by launching the 2019 Miss.Africa Digital Seed Fund Application Drive. Parallel to my advocacy on the philosophy of positive “tech disruption”, and how it has the ability to create a welcome change in our societies, if we regularly engage in doing something out of our comfort zone for our mind, body and spirit, I’m a great believer that we will find ourselves in a much better space as human beings, as well as be more effective in our work.” 2019: Year of work-life-balance, –…

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Africa’s e-commerce giant Jumia to list on the New York Stock Exchange

Reports of an initial public offering (IPO) by Jumia, the pan-African conglomerate of e-commerce businesses, have been finally confirmed but details of its financials do not paint a pretty picture. Jumia has filed to launch its IPO on the New York Stock Exchange, documents from the U.S. Securities and Exchange Commission (SEC) show. The intended IPO is a landmark first for e-commerce and tech businesses on the continent. It could also mark a possible exit by Rocket Internet, Jumia’s German parent company, divesting its remaining 28% stake in the company.…

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MPESA option now available on Aliexpress App

Shopping online can seem like a daunting task to some people, especially considering the  limited payment options and security issues that bog online transactions. Alibaba-owned e-commerce platform, AliExpress, has slowly but steadily gained popularity in Kenya as the platform opens up the Chinese vast goods market to Kenyans. International shopping in Kenya has mainly relied on third-party services such a Vitumob or Something Random, that aim to connect locals to the well-established platforms like Amazon but recently we have seen these shopping websites make an effort to directly reach their…

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PesaPal adds new payments options on app in partnership with M-Pesa, Visa & MasterCard

Electronic payments firm PesaPal has added payment options in its integrated mobile money processing platform for shoppers and those making utility payments. The company said its users will be able to leverage on its new app — dubbed PesaPal Mobile — to buy airtime, pay bills, book flights and holidays, purchase event tickets and pay school fees. It has partnered with Safaricom’s M-Pesa, Visa and MasterCard to enable the payments “Available on both Android’s Google Play Store and Apple‘s App Store, the app is geared towards consumers looking to simplify…

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Ride-hailing platform Taxify rebrands as Bolt

Taxify, the ride-hailing platform rebranded in SA as Bolt, after five years in the local market. Uber rival said on Thursday. “This update brings the brand identity in line with the company’s broader vision of transportation that has already expanded from ride-hailing with cars to motorbikes and scooter-sharing,” it said. CEO Markus Villig said in a statement that when the company was founded five years ago, its first product was a taxi-dispatch solution that gave it its original name. Since then, it has outgrown parts of its brand, he said.…

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