Category: STARTUPS

SpaceX’s Greatest Digital Horizon Expands with Starlink in Kenya

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Starlink’s Evolving Presence

SpaceX’s Starlink is set to make waves in Kenya’s internet landscape with the anticipated introduction of its ‘Starlink Mini’ antenna later this year. This development could significantly transform internet access in the East African nation, particularly during times of political unrest and alleged internet throttling. Elon Musk, SpaceX’s founder and CEO, recently responded to a Kenyan user’s inquiry on social media, confirming the upcoming availability of the Starlink Mini in the country. While specific pricing for Kenya remains undisclosed, the Mini currently retails for $599 in the United States, potentially…

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Latest: Chinese Robotaxi approval to carry passengers in California

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Robotaxi. Chinese autonomous vehicle company WeRide has received the green light to test its driverless vehicles with passengers in California.  The step comes as WeRide begins the process to go public on the U.S. stock market at a nearly $5 billion valuation. The timing also coincides with reports that the Commerce Department is considering a ban on Chinese connected vehicles — which include autonomous vehicles — due to national security concerns.  As of August 2, WeRide holds two permits from the California Public Utilities Commission: A drivered pilot permit and a driverless pilot permit. Both allow WeRide…

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Flutterwave Expands Digital Payment Services in Ghana with New License

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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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HR tech startup Propel to open Best talent economy.

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HR tech startup Propel wants to power the open talent economy via tech communities

In the latest development, Propel, a Lagos- and Berlin-based startup that wants to build sustainable talent pipelines for communities and help global companies derisk the process of hiring remote talent from emerging markets, particularly in Africa, has secured €2.5 million (~$2.74 million) in seed investment. The round was led by Amsterdam-based No Such Ventures, with participation from APX (an accelerator by Axel Springer Digital Ventures and Porsche Digital), Golden Egg Check and Future of Learning Fund. The startup, founded in 2020 by Sunkanmi Ola, Seun Owolabi and Abel Agoi, intends…

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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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New: 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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Future Jobs to look out for in the coming years.

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Future Jobs to look out for in the coming years. Technology is day by day becoming the way of life for each and every one of us. This is going to affect jobs in the near future. We cannot simply dare to escape its existence, growth, and interruption in our lives are bound to increase. This applies to our sources of income, and our daily jobs which have been fully revolutionized by technology. Most jobs that were manually done by hand have been replaced by machines reducing the manpower required.…

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New: Bolt ventures into food delivery business

Dianne Jacobs
Bolt Food

Bolt ventures into the food delivery business Bolt, a Taxi-hailing service is venturing into the food delivery business in Kenya targeting alternative revenue streams as the market has seen reduced mobility in the wake of Covid-19 restrictions. Bolt advertised the position of Country Manager for its food delivery arm in Kenya signaling the beginning of operations towards the end of the year. “We’re already present in 30+ markets across Europe and Africa. Now, it’s time for us to bring the know-how around building a mobility platform to the food delivery…

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CBK Proposes law for mobile loan apps

Dianne Jacobs
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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New: Telkom Kenya Cancels merge with Bharti Airtel

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Telkom Kenya

Telkom Kenya cancels merge with Bharti Airtel Telkom Kenya said on Wednesday it was no longer looking to merge its business with the Kenyan unit of India’s Bharti Airtel, citing challenges in securing the required regulatory approvals for the deal reports Reuters. Bharti Airtel had said in February 2019 that its Airtel Networks Kenya unit had agreed to buy Telkom Kenya, the East African nation’s smallest operator in which the state still has a 40% shareholding after a majority stake was sold in 2007. The deal, whose terms have never…

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