Category: BUSINESS

Safaricom and Visa launch M-Pesa Global Pay Visa Virtual Card

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Safaricom and Visa launch M-Pesa Global Pay Visa Virtual Card Safaricom has entered an agreement with Visa to form M-Pesa GlobalPay Visa Virtual card which will see the mobile phone-based money transfer service transact in 200 countries. This will allow customers to transact up to Sh150,000 ($1,28370) per payment and Sh300,000 ($2,567.3) per day. The deal is expected to shore Safaricom’s earnings from the mobile money services at a time M-Pesa revenues have been growing steadily. “By partnering with Visa to provide the M-Pesa GlobalPay Visa virtual card, we are…

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Oracle misses on earnings as investments drag down quarterly profit

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Oracle misses on earnings as investments drag down quarterly profit

Oracle misses on earnings as investments drag down quarterly profit Oracle reported fiscal third-quarter earnings on Thursday that trailed analysts’ expectations. The stock initially slid 6% in extended trading before rebounding. Here’s how the Oracle did: Earnings: $1.13 per share, adjusted, vs. $1.18 per share as expected by analysts, according to Refinitiv. Revenue: $10.51 billion, vs. $10.51 billion as expected by analysts, according to Refinitiv. Oracle’s revenue increased 4% from a year earlier in the quarter, which ended Feb. 28, according to a statement. Net income declined 54% to $2.32…

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Sophia Bekele DotConnectAfrica Group CEO honored with Awards Across Multiple Continents

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Sophia Bekele DotConnectAfrica Group Founder and CEO, also of US-based CBSegroup was honored with multiple awards across continents. Sophia Bekele was honored with the Silicon Valley’s Women of Influence (WOI) Award and the CEO Today Africa Awards. The Women of Influence award “recognizes established business leaders who have accomplished specific achievements in the business world in this innovation region women with a strong record of innovation in their fields, outstanding performance in their businesses, and a clear track record of meaningful community involvement. Women from every industry and profession who…

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Tangerine, A Tech company boosts Financial inclusion in Africa

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Tangerine,AFRICA

  Leading financial services and technology platform, Tangerine officially launched on Wednesday 7th July 2021. In September 2019, Tangerine was established following the acquisition of a 100% equity stake in Metropolitan Life Insurance Nigeria by Verod Capital Management, a leading private equity firm investing in growth companies across Anglophone West Africa. Today, Tangerine is positioned to be Africa’s preferred one-stop financial solutions provider, leveraging a tech-driven, flexible, high-access platform to drive business across all the financial services segments in Africa to deepen financial inclusion, facilitate wealth creation, and protection. In…

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Maviance raises 3Million to digitize financial services

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Maviance raises 3Million to digitize financial services Maviance, a Cameroon-based company providing digital financial services like agency banking and bulk bill payments, has raised $3 million in equity financing. The investment is solely from MFS Africa, the cross-border fintech company connecting mobile money providers like MTN to banks like Ecobank across over 34 countries in Africa. MFS Africa’s investment gives it an undisclosed minority stake in Maviance. Maviance’s flagship product is Smobilpay, a platform that integrates payment solutions from banks, mobile money operators, and telecom operators. Smobilpay is connected to…

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Installation of Huawei 5G banned in the U.K.

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  United Kingdom on Monday detailed plans to phase out Huawei from its 5G networks. Come September 2021 carriers installing the Chinese firm’s gear will have to stop. The U.K. government decided to ban 5G equipment from Huawei over the summer. Reversing course after heightened pressure from the United States. Westminster had initially allowed it a limited role in the U. K’s 5G deployment. Washington has imposed devastating sanctions on it. It is claiming that the Shenzhen-based company could enable the government in Beijing to spy on sensitive communications. For…

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TECNO new innovations to meet Africans needs

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  For the past 15 years, many aspects contributed to Africa’s rapid economic growth. Mobile phones were critical in leading to this growth. Transsion, a Chinese-led group that started in Africa and focuses on emerging markets outside of China. Its brands, such as TECNO, are household names on the continent, where it is today the single biggest smartphone seller. Transsion’s vice-president, Stephen Ha, puts this down to designing phones specifically for the needs of the African consumers. In 2008, it made a strategic decision to focus exclusively on Africa, before…

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DCA WebForum Hosts Leading Ladies in Africa’s Finance Sector on timely topic of Women Bankers for Women Entrepreneurs: A post 2020 strategy for success.

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  The DCA Group hosted its 5th impactful and insightful Executive Roundtable conversation on the topic of “Women Bankers for Women Entrepreneurs: A post 2020 strategy for success, presenting a unique topic about “What Women Want” in Banking. The virtual meeting dialog consisted of  leading ladies at the Ministry of Trade and Industry Zanzibar, Credit Bank PLC-Kenya, Bank of Ghana, NCBA Bank Group, Absa Bank and African Development Bank Group. The rich discussions encompassed Ambassadors, Ministers, Senior Managers, and Directors in top Banking and Finance Industry who are passionate and well known in…

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TikTok granted a 7-Day deadline extension

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TikTok granted a 7-Day deadline extension The Trump administration has given Byte Dance, TikTok’s owner another week to complete a sale of its popular video-sharing app. This is in regards to resolving U.S. national security concerns raised earlier in the year. The deadline extension The new extended deadline is Dec. 4. The popular app fate was caught up for months in U.S. President Donald Trump’s crackdown on Chinese technology companies. The app has more than 100 million downloads in the United States. The administration claims that American’s private data was…

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Dell anticipates an increase in sales

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Dell anticipates an increase in sales Dell foresees a surge in sales as Work From Home and online learning become the new norm. Dell is a multinational IT company based in Texas, United States. It produces desktop PCs, notebooks, tablets, and peripherals, storage solutions, virtualization and cloud services, and infrastructure. Dell Technologies anticipates current-quarter sales above market expectations. The Covid 19 pandemic shifted office work to remote work and online learning. This shift increased demand for the company’s desktops and notebooks, helping it post a surprise rise in third-quarter revenue.…

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