Category: BUSINESS

MTN Foundation Launches the best IVR Platform

Staff Writer

MTN Foundation has introduced a new Interactive Voice Response (IVR) platform designed to enhance public access to comprehensive information about the foundation’s initiatives and accomplishments. This platform, accessible by dialing “779” or the MTNN “300” IVR channel and selecting option ‘6’, provides users with an interactive experience where they can hear detailed accounts of MTN Foundation’s programs, milestones, and ongoing efforts in education, entrepreneurship, and community development. The launch of this IVR number underscores MTN Foundation’s commitment to transparency and community engagement. Odunayo Sanya, Executive Director of MTN Foundation, emphasized…

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Open Access Energy Secures $750K Funding for Best Energy Transition

Staff Writer

Open Access Energy (OAE), a South African startup specializing in energy management software, has secured a $750,000 investment from Factor E Ventures, marking the first phase of its $1.5 million seed round. The software company stated that this initial funding will be directed toward addressing the severe energy deficiency in the southern African nation by enhancing the distribution and management of renewable energy. Factor E Ventures’ investment comes at a pivotal moment for both the company and the country. South Africa’s energy sector is currently grappling with significant challenges, including high costs and…

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Flutterwave Expands Digital Payment Services in Ghana with New License

Staff Writer

Flutterwave, a prominent payments technology company, has received an Enhanced Category Payment Service Provider license from the Bank of Ghana. This development marks a significant expansion of the company’s operations in Africa and enables it to offer a wide array of payment services in the country. Ghana has emerged as an attractive market for Flutterwave’s innovative products. The nation boasts a stable democracy, a young population well-versed in technology, and a high mobile internet penetration rate of 71%. These factors create an environment conducive to rapid digital adoption. The Ghanaian…

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CBK Proposes law for mobile loan apps

Staff Writer
MTN Rwanda

CBK Proposes law for mobile loan apps Digital app lending companies operating in Kenya are set up for a shake-up after the country’s central bank proposed new laws to regulate monthly interest rates levied on loans by digital lenders in a bid to stamp out what it deems predatory practices. If approved, digital lenders will require approval from the central bank to increase lending rates or launch new products. The move comes in the wake of mounting concern about the scale of predatory lending given the proliferation of startups offering…

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Toshiba Exits Laptop Business, The Best for Industry.

Staff Writer
Toshiba

Toshiba Exits Laptop Business Toshiba, a Japanese tech giant once well-known for its satellite range of laptops meant for heavy use, has finally decided to quit the laptop business. Toshiba has quietly sold its remaining 19.9 percent stake in its Dynabook laptop brand to Sharp, officially exiting the laptop business. The company earlier sold an 80.1 percent stake to Sharp in 2018. “Toshiba Corporation hereby announces that it has transferred the 19.9 percent of the outstanding shares in Dynabook that it held to Sharp Corporation. As a result of this…

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Airtel Kenya ventures into the TV Best streams market

Staff Writer
Airtel

Airtel Kenya ventures into the TV streams market Airtel Kenya a Telecom firm has launched a TV app service in the market as it moves to tap the growing demand for movie streaming services and rev up data consumption on its network. The free service dubbed Airtel TV will allow users to watch movies, documentaries, music, and cartoons, seeking a piece in a market dominated by giants Netflix, Amazon, and Showmax– which provide videos on demand. The service will be free for now, a pointer that seeks to earn money…

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‘Buy on Google’ is now running commission-free

Staff Writer

‘Buy on Google’ is now running commission-free Google is making it free for retailers to sell products in search results by waiving Commission fees for sales made via the ‘Buy on Google’ option. ‘Buy on Google’ is a payment option that lets customers buy products without leaving Google search results. The option to buy products directly on Google is made available to customers when they click on shopping listings in search results. Like other online payment providers, Google has always charged a commission fee for sales made through its platform.…

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Central Bank of Kenya Declines new M-Pesa transactions.

Staff Writer
M-Gas Mpesa Central Bank of Kenya

Kenya’s leading telco Safaricom has lost the bid to cap free M-Pesa transactions to five. This comes after subscribers split high-value transfers to avoid paying transfer fees, costing it billions of shillings in revenues. The company had petitioned the Central Bank of Kenya (CBK) to cap the number of multiple transactions between two numbers, according to a recent disclosure of conference call transcripts between Safaricom and investors seen by the Business Daily. Safaricom reported that customers were splitting high-value money transfers of as high as Sh60,000 to deals of below…

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New: OPay shut down all its business operations in Nigeria

Staff Writer

News earlier in the week broke that Opera-backed Nigerian fintech startup, OPay has reportedly shut down all its business operations in Nigeria following a letter issued by its foreign investors amidst the poor economic climate caused by the COVID-19 pandemic.. A report claims that all verticals of the startup, including ride hailing, ORide and OTrike — which were still active in other states aside Lagos; the recently launched B2B and B2C eCommerce platforms, OMall and OTrade; OExpress for logistics; and food delivery feature, OFood will be closed down. Opay launched…

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Amazon new strides into developing its own self-driving vehicles

Staff Writer

Amazon is making strides into developing its own self-driving vehicles, agreeing to buy Californian start-up Zoox in a deal said to be worth more than $1bn (£810m). The takeover was first reported by tech website The Information and was later confirmed by Amazon.  Talks were said to have started between the two companies last month. Zoox’s chief executive Aicha Evans and chief technology officer Jesse Levinson will continue to lead the team as a standalone business after the deal has completed, Amazon said. The takeover is believed to be part of Amazon’s plans to begin…

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