Despite recording increased profits in Q3 2022, Jumia is looking to cut more costs. The e-commerce giant is cutting Jumia Prime, its loyalty programme that offered unlimited free deliveries on all orders. It's also sizing down its Dubai office. More in #TCDaily.
Kenyan agritech company Twiga Foods has laid off 21% of its staff including its in-house sales team. The company is also branching off into an agent model, and laid-off staff are being offered compensation for every customer they acquire. More in #TCDaily.
FTX has lost its financial services trading licence in South Africa. South African cryptocurrency market maker Ovex cancelled has cut off the international exchange’s access to its local Financial Service Provider (FSP) licence. More in #TCDaily.
In today's edition of #TCDaily: - PalmPay gets compliance licence- Safaricom to introduce phone numbers for minors- Modus launches $45 million Africa-focused fund- Orange rolls out 5G service in Botswana