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Airtel to sell a 30% stake in its Kenya business Twitter chooses Ghana Twitter execs: L-R: Parag Agrawal (Twitter CTO), Mike Montano (Engineering Team Lead), Jack Dorsey (CEO), and Kayvon Beykpour (Product Lead) Twitter has made the big decision to have a physical office in Africa having acknowledged that the region is replete with talents. It has chosen Ghana as the location. Shocking or expected? Maybe both. It was clear from the team’s African tour in 2019 that it had its eyes on Nigeria for good reason. One of Africa’s top four tech locations, the others being Egypt, South Africa, and...

Facebook’s COVID-19 vaccine move How to own a drone in Kenya A quick notice:  Yesterday, we wrote about Innoson’s supposed partnership with an admittedly strange cryptocurrency, Zugacoin. Innoson Vehicle Manufacturing has come out to debunk any claims of such partnership, quelling other questions we had about the announcement. Still, could that really be the full gist? NITDA fines Nigerian fintech company Advertisement The story: The Nigerian Information Technology Development Agency (NITDA), has fined Nigerian financial services provider, Electronic Settlements Limited with the sum of...

Innoson’s reported acceptance of crypto payments Clubhouse’s first anniversary The fate of USSD in Nigeria On March 12, 2020, the Association for the Licensed Telecommunications Operators of Nigeria (ALTON), an umbrella body for the likes of MTN, Glo, Airtel and 9Mobile, released a statement that it would withdraw USSD services from Nigerian banks. Advertisement Why? Nigerian banks apparently owe the mobile network operators a whopping sum of ₦49 billion ($102.4 million), and both parties have been unable to come to a reasonable agreement. It gets even more baffling when you consider t...

Apple’s first Nigerian appointment Bolt’s play for Nigeria’s food delivery market Flutterwave becomes a unicorn The big news: Africa-focused fintech company, Flutterwave has raised $170m Series C. The Series C round was led by New York-based private investment firm, Avenir Growth Capital, US hedge fund, and investment firm, Tiger Global. Advertisement Impressive milestones: Apparently, Flutterwave reaped the rewards as COVID-19 moved several Africans towards digital payments. Here’s a quick summary of its milestones since its 2016 launch: Live in 20 African countries Infrastructure re...

Adjusted EBITDA loss decreased by 47.1% A decrease in average loss per order Transactions on JumiaPay, increased by 26.1% and 58% more costumers used the payment service for purchases on the platform. The not so good: Jumia’s financial report looks encouraging, until you compare it with its financial report for 2019. Annual Active Consumers (People who placed orders regardless of cancellation or returns) increased by 12%. In 2019, annual active consumers grew by 54%. Orders on Jumia dropped by 3% compared to a 54% growth in 2019. Revenue declined 12% compared to a 70% increase in gross prof...