Egypt’s competition watchdog has warned Uber and Careem once again against the merger. The regulator, Egyptian Competition Authority, had first warned the two companies last month against a merger amid rumors about acquisition and merger talks between them. But this time, the authority has gone a step further and said that they could slap fines of up to 500 million EGP ($28 million) per infringement on each person relevant person (read: party) involved in the deal. Dr. Amir Nabil, Chairman of the Egyptian Competition Authority, in a statement issued last week, said, “Uber and Careem are the only ride-hailing applications available in Egypt. Any anticompetitive interaction or harmonization of their business strategies including agreement to merge has the potential to cause serious and ir
PayPal Inc Holdings Inc has made an unspecified strategic investment in Tala, a financial technology startup that lends to underserved consumers in emerging markets, the companies said on Monday reports Reuters. Based in Santa Monica, California, Tala lends to individuals in Kenya, Tanzania, the Philippines, and Mexico through its smartphone app. The company has lent more than $500 million to customers and has more than 300 employees around the world. It is among a growing cohort of new entrants in finance that take advantage of digital technologies to service individuals that have been excluded by the traditional banking sector because they were considered too risky or too unprofitable to serve. To service these consumers, Tala analyzes device and behavioral data to underwrite th...
The Communications Authority of Kenya recently released their Q1 2018 Sector Statistics Report and it has some interesting tidbits. First is the section about the National Cyber Threat Landscape. The National KE-CIRT/CC detected over 7.9 million cyber threats, which was a 25% drop compared to the previous quarter. The most interesting tidbit under the various list of cyber threats detected is the rise of online abuse in the time frame the data was collected. According to CA, online abuse has increased by 1155% compared to last quarter (1757 cases vs 140) which is quite significant. During this quarter, the National KE-CIRT/CC validated and escalated 3,488 cases, of which online abuse took the lions share (1737 cases) up from 99 last quarter. This was a 1654.5% increase. According
During it's #Google4Kenya event this morning, Google has annouced that it has launched Street View of Nairobi, Mombasa, Kisumu, Eldoret, Nakuru, Nyeri and Malindi - now available on Googlemaps and accessible to everyone, around the world. Google Street View is a technology featured in Google Maps and Google Earth that provides panoramic views from positions along many streets in the world. It was launched in 2007 in several cities in the United States, and has since expanded to include cities and rural areas worldwide. We’ve launched Street View of Nairobi, Mombasa, Kisumu, Eldoret, Nakuru, Nyeri and Malindi - now available on @googlemaps and accessible to everyone, around the world #Google4Kenya #twatembeapamojahttps://t.co/YiIGy1sNZQ — Google in Africa (@googleafrica) October 15,
Of the 690 million registered mobile-money accounts worldwide, 50% are in Africa. In Zimbabwe and Somalia, for example, both countries that have experienced decades of economic isolation and political unrest, mobile money is ubiquitous and central to economic activity. Writes Aubrey Hruby The big picture: While Apple Pay and other mobile-money platforms have been slow to grow in the U.S., with only 20%–30% of iPhone users enabling Apple Pay, a cashless economy has taken hold in unexpected places. In Africa, a continent all too often mislabeled as relatively undeveloped, major innovations are taking root and scaling quickly. The numbers: McKinsey estimates that 1 in 10 African adults actively use mobile money, compared to roughly 1 in 40 South Asians. Although Kenya paved the way