News, Stories, Events, & Trends that shape the Eastern African region
The landscape of financial payments in Uganda is rapidly evolving as consumers increasingly prioritize convenience and speed in their payment methods. The surge in demand for digital payment services reflects this trend, with mobile money transactions experiencing a notable 7.7 percent increase in volume and a 2.9 percent uptick in value, soaring to UGX 62.2 trillion
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The event marks a significant milestone in the implementation of the Social Health Act of 2023, which necessitates all NHIF members to register afresh with the Social Health Authority under the Social Health Insurance Fund
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Entrepreneurs hailing from Nigeria, Kenya and Egypt were in the top three following the final pitching session in the Grand Finale; Africa’s Business Heroes grant recipients contribute to the creation of over 123,000 direct and indirect jobs through their entrepreneurial endeavors.
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Kenya’s Ed Partners Africa, a non-banking financial institution that specialises in providing loans to affordable private schools, has announced the commitment of a US$10 million loan guarantee facility from the United States’ Development Finance Corporation (DFC) to help it expand access to affordable education.
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The new goal for African telcos is becoming technology platforms not just old goody mobile carriers with dynamic software solutions replacing traditional voice calls and SMS
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Outside of tracking fundraising metrics, the last $12bn to $15bn invested in African startups through VC should have been a learning experience. So what are we learning about these experiments in African venture capital so far?
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In 2012, Jumia, Africa’s first ecommerce giant, revolutionised shopping by offering the service online, alongside shipping. Since then, they have grown as a market leader over the African continent. They have also gone on to list their shares on the stock exchange, in 2019. The listing went well; their stock prices surged 75% on its first day of trading. This made the company a unicorn with an over $3 billion valuation. But four years after that IPO, everything has crashed. Its stock now trades at somewhere around $4, losing nearly 70% of its value since its listing date.
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Tokunboh Ishmael, Alitheia IDF co-founder and an early investor in the African tech space, shares perspectives on impact investing.
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Microsoft’s partnership with M-PESA Africa aims to digitally upskill Micro, Small, and Medium Enterprises (MSMEs) across Africa, bridging the skills gap and fostering economic growth. Discover how this collaboration is set to transform the future of African small businesses.
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irtel Africa, in partnership with the Rwandan government, introduces an affordable 4G smartphone as part of the ConnectRwanda 2.0 initiative. Discover how this public-private partnership is set to boost digital inclusion and drive economic growth.
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