The bank money grab is getting intense as the deadline looms. Insiders and big players are frantically buying more shares before time runs out. Reports show a spike in internal transactions across multiple banks, with others quietly offering stock to major investors as a cushion for the coming industry shakeup. With the Central Bank's March 31 cutoff approaching, over four hundred billion naira is reportedly sitting in special placements for these key investors. Many banks are still short of the new cash requirements, leading them to consider reverse rights issues targeting their biggest existing shareholders. In one example, a top investor at an older bank upped their controlling stake to seventeen percent, a clear power move before a...
The stock market just crossed a ridiculous mental barrier. Nigerian equities blasted past a hundred trillion naira in total value for the first time ever, hitting a wild 101.81 trillion. This happened after two straight days of gains this year, adding over two trillion naira already. The main index climbed to 159,218 points. For every stock that dropped, about nine others went up, showing crazy widespread optimism. People are jumping in early, betting on good annual reports and dividend payouts from companies. This follows a monster year where the market grew by more than half, making it a global top performer. The market's head honcho, Temi Popoola, called it a major moment showing fresh investor trust. He credited teamwork between...
Sounds like the pay TV bubble is finally popping. MultiChoice Group just had a brutal year, calling it a perfect storm of bad economic conditions across Africa. Their latest annual report shows a major subscriber bleed. The total active customer count dropped from fifteen point seven million down to fourteen point five million. South Africa alone lost eight percent of its subscriber households, falling to seven million. High unemployment and squeezed incomes are killing discretionary spending.
The Rest of Africa segment did not fare better, declining seven percent to seven point five million subscribers. Rampant inflation in countries like Nigeria, Angola, Ghana, and Malawi forced people to cut entertainment first. Constant power cuts...
Fintech partnerships are basically copy-paste at this point. Mukuru, a financial services platform, joined forces with foreign exchange operator Travelex in South Africa. This lets people pick up cash remittances at Travelex branches. The deal adds forty six pickup locations nationwide, placed in busy areas for easier access. The idea is to reduce travel time and hassle for customers collecting money.
The collaboration also aims to diversify Mukuru's payout channels, building a more resilient network. It operates within South Africa's regulated Bureau de Change sector. That framework mandates strong security, liquidity, and in-person identity verification at branches to ensure safe transactions.
Executives from both sides gave...
Kuwait's telecom scene is all about that sweet, sweet digital transformation. Ooredoo Kuwait spent last year pushing hard into that space, aligning itself with national development goals. They framed themselves less as a phone company and more as a strategic partner for the country's tech future. A big part of that involved deepening ties with both government bodies and private corporations.
Their work included a collaboration with the Kuwait Oil Company. They used Ooredoo's digital platform, called 51, to highlight national projects and boost institutional visibility. Another deal with Kuwait Airways put that same platform directly into seatback entertainment systems. This move aimed to spread Kuwaiti digital content globally and...
Just when you thought drones were only for deliveries. A Japanese startup called SORA Technology, based in Nagoya, raised around four hundred million yen. That is roughly two and a half million dollars. The late seed funding round wrapped up last year with new money from investors like Daiwa House Group Investment, Central Japan Innovative Research Fund I, and UNERI Capital Fund Series I. Existing shareholders also pitched in.
This company uses satellites, drones, and artificial intelligence for weirdly specific global issues. Their main focus is fighting infectious diseases, particularly malaria. That disease hits over two hundred million people a year, killing an estimated six hundred thousand, mostly in Africa. Their platform...
The Malawi communications regulator, MACRA, gave a shoutout to sector teamwork after a meeting with Malawi Telecommunications Limited. MTL is one of the country's network operators. Their people paid a courtesy visit to the agency's Acting Director General, Mayamiko Mkoloma. The chat was basically an update for the regulator on what MTL has been doing lately.
Discussions covered MTL's work to use tech for better service quality across the nation. That includes projects to get rural and underserved areas connected. Mkoloma acknowledged the company's part in pushing Malawi's digitalization plans forward. He pointed out that a dependable and widespread communications infrastructure is non-negotiable for hitting those national targets...
Fintech promises, yet again, to fix sending money home. Thunes, a global payments network, partnered with Nigeria's Sterling Bank. Their goal is simpler cross-border payments for Nigerians living abroad, starting in Europe. This uses the Thunes direct network for moving cash. People can instantly fund Sterling accounts from foreign banks.
The service targets a huge diaspora, about seventeen million Nigerians outside the country. For nearly half of these consumers in Europe, sending cash home is a regular necessity like paying rent. Sterling says this offers a faster and more reliable method than old options. Both new and existing bank customers get access.
Executives made the standard partnership quotes. A Thunes sales lead for...
Reaching ten million users is a real flex for any fintech. Barq just hit that number globally, a serious milestone showing how fast they are growing. Their digital finance platform now moves serious cash, having processed over one hundred fifty billion Saudi Riyals. That volume came from more than nine hundred forty million separate transactions. They have also handed out nine and a half million physical cards to their users. Those customers come from over one hundred fifty different countries, showing a wildly diverse user base.
The company says this growth boils down to user trust and its focus on a smooth, reliable service. They are framing this ten-million customer mark as just a starting point. Their stated goal is limitless...
