According to Euromonitor, the world’s fastest growing economies by 2030 will be in Africa. This consequently makes the continent the next big e-commerce market. And as this positive narrative continues to place Africa as a top investment destination, the need for advanced logistics systems has become inevitable. The growth of e-commerce will significantly depend on the quality and efficiency of logistics networks; from intra and cross trade to financial transactions in payment of goods and services. When writing the African e-commerce story, I often leap at the chance to explore only the enviable milestones the continent has made. Nevertheless, there still exist formidable challenges especially in logistics, a vital constituent of the industry. The African Development Bank, in its 2019
Safaricom is working on a joint venture with Vodacom Group to acquire the MPESA brand from Vodafone. The deal, when finalized, will cost the two companies $13.4 million. According to Collymore, acquiring the rights to MPESA will allow the partners to expand the platform’s footprint in Africa and develop more local products. “We are watching Ethiopia closely because as we see the liberalization of the markets, both the mobile payments market, the telecoms market and the banking sector, we think there could be opportunities,” Collymore said. Speaking to The Africa Report in February, Collymore had said a successor should be, “Someone who understands the financial sector a lot more, if we are to occupy the fintech space, and someone who is not going to be scared of going into other mark
Cooperative Bank of Kenya will switch off banking services over the weekend for IT upgrade. In a notice published on the dailies on Thursday, the bank notified its customers and the general public that it will be upgrading its IT network to improve system performance and provide faster banking services. “All our banking services will be switched off from 10.00pm Saturday 8th June to 8.00am Sunday 9th June 2019,” the lender said. On the affected days, customers will be unable to use the bank’s ATM, mobile banking, VISA Card, agencies, Saccolink, account to Mpesa, Kenswitch, and all other services.
Huawei users have been warned they will be “significantly impacted” by Google restricting the Chinese firm’s access to its Android software. The block is the result of an executive order from US President Donald Trump last week which prevents “foreign adversaries” from accessing US technology without government approval. Industry expert Tristan Rayner, senior editor with the Android Authority news website, said the block means security updates to Huawei phones from Google will stop, and that buying a Huawei phone is now a “real risk”. “Existing Huawei device owners will be significantly impacted,” he said. Whether it’s someone with a brand new Huawei P30 Pro, which was unveiled last month, or the owner of an older Huawei Mate device that’s a few years old, it’s now clear that the
Andrew Left, Founder of Citron Research, has released a report stating that they have a "smoking gun" which proves that JUMIA is a fraud and that the stock is worthless. JUMIA shares, at the time of publishing, were down 20% on the day on the New York Stock Exchange (NYSE). The e-commerce company which operates across several African markets and is popularly (or infamously, depending who you ask) known as the "Amazon of Africa", listed on the NYSE earlier in 2019 to much fanfare and a $1 billion valuation. "In order to raise more money from investors, JUMIA inflated its active consumers and active merchants figures by 20-30% (FRAUD). The most disturbing disclosure that JUMIA removed from its F-1 filing was that 41% of orders were returned, not delivered, or cancelled. This was previous...