Startups

Taxi-hailing apps increase competition in transport

Taxi-hailing apps increase competition in transport

Business, Startups, Technology
Taxi-hailing apps such as Uber and Bolt, formerly Taxify, are now part of the daily lives of people living in cities such as Nairobi. Also, a rising number of major town has homegrown taxi-hailing services. Such technological advances that were unimaginable few years back continue to revolutionize logistics, steamrolling over traditional methods of operations. Mobile-supported applications have now shifted to truck and bus hailing services. Apart from the innovators, the main beneficiaries of this transformation are consumers who are not only enjoying sharp reduction in transport and commuter costs, but a high level of convenience. All they need to do is just press a button on their smartphones at the comfort of their living room and their travel or logistics...
PortableVoices has announced partnership with Afripods

PortableVoices has announced partnership with Afripods

Business, Internet, Startups
Kenyan based Media production and podcast start-up PortableVoices has announced a podcast distribution partnership with Afripods, an African focused platform for podcasters with head office in Nairobi. Under this partnership, Afripods will distribute podcasts produced by Portable Voices Podcast Network as well as co-produce future “Afripods Original” podcasts through Afripods platform and all other distribution channels available pan-Africa and internationally. Allan Niongira, Portable Voices Founder said; ‘‘We’re excited about this new partnership with Afripods. Podcast consumption is really growing in Kenya and across Africa, this new partnership allows us to continue producing more local podcasts. With Afripods as our distribution partner, we will be able to reach more listeners
Nairobi one of the nine innovations hub to watch

Nairobi one of the nine innovations hub to watch

Startups, Technology
Nairobi is one of the nine innovation hubs to watch globally in the coming year after climbing the world financial technology start-up ecosystem ranking by 42 positions. The country’s capital city was placed at 63 in the overall top 100 ranking in the Findexable Global Fintech Rankings 2020, a report published by research firm Findexable Limited. Nairobi is second in Africa after Johannesburg which topped the continental league table. It was followed by Lagos, Cape Town, Accra, Kigali and Kampala which formed part of the top 12 technology hubs in Africa. “Nairobi is Africa’s second largest fintech hub, with an estimated 20 percent of African fintechs and an emerging ecosystem of local investors and venture capital firms complemented by a steady rise of internat
Report indicates 9,300 Stores Closed Across US in 2019

Report indicates 9,300 Stores Closed Across US in 2019

Business, Startups
A report found that more than 9,300 stores have closed or are closing across the United States in 2019, including locations operated by Payless, Gymboree, Fred’s, Walgreens, Family Dollar, and many more. According to a report (pdf) by Coresight Research, which released its year-end report on the closing stores, 5,844 stores closed in 2018. In 2019, 9,302 stores were reported to have been shut down or were going to be shut down, which is a 59 percent increase over 2018. Payless ShoeSource shut down 2,100 stores, Fred’s shut down 564, Ascena Retail shut down 781, Gymboree shut down 740, Sears closed down 210, and Charlotte Russe shut down 512. Twelve businesses had at least 200 locations shut down in 2019, the research organization said. Gamestop, Gap, Foot Locker, Walgreens, De
Turaco Startup closes $1.2M Seed Round

Turaco Startup closes $1.2M Seed Round

Business, Startups
Kenya-based micro-insurtech startup, Turaco, has announced a successful seed capital raise of USD $1.2 million to further scale its operations across Africa. Alongside several angel investors, GAN Ventures, Mercy Corps Ventures and Musha Ventures also contributed to this round. This follows USD $40,000 received in grant funding late last year from Villgro Kenya and venture building support facilitated by inclusive fintech accelerator, Catalyst Fund. Turaco Co-founder and CEO, Ted Pantone, says: "We built Turaco based on the belief that we are called to love all our neighbors as we love ourselves. At its core, our company exists to come alongside people in their greatest times of need. It is a perfect intersection between social impact and a commercially scalable opportunity. For thi