Payment processing giant Stripe has acquired Nigerian startup Paystack in a $200M+ deal. Stripe seeks to expand into the African Market in its bigger strategy announced earlier this year to expand its API- based payment processing services to more regions.
Paystack, like Stripe offers online payment integration services using APIs to facilitate transactions. To date, Paystack has approximately 60 000 customers ranging from small businesses, fintechs to large corporations.
The acquisition makes it the biggest startup acquisition in Nigeria as well Stripes biggest acquisition to date.
Valued at $36 Billion, Stripe is actively expanding its global presence through acquiring smaller companies in different regions. In the last 2 years, stripe has expanded its operations t...
FinTech space is fast growing in Africa. The continent has recorded massive growth in the last decade. Currently Africa has more than 400 FinTech companies and startups of which more than 80% of them are home-grown. The industry is largely dominated by payment, lending, insurance and investments focused solutions.
The growth is attributed to mobile access and penetration in the continent and lack of financial inclusion to traditional banking leaving majority (Approximately 60%) of the African adult population unbanked.
In Kenya, M-Pesa mobile money service provided by Kenya’s biggest telecommunication company Safaricom PLC has been a massive success in providing mobile payment solutions allowing users to pay bills, send money to each ot
Most African countries have lacked good forecasting methods as weather becomes increasingly extreme
A new weather forecasting system in Africa allows meteorologists to track approaching storms in real time, potentially saving lives from climate-related disasters, scientists said on Monday.
The technology is already used in developed countries but was not available until recently in most of sub-Saharan Africa, according to scientists behind the project at the University of Leeds.
"We had forecasting methods before but they were not as good," said David Koros, principal meteorologist at the Kenya Meteorological Department.
"It's very important because we can issue information for the safety of lives, property and the environment," he told the Thomson Reuters Foundation.
The new method, ...
A Kenyan gaming company has launched a web-based video conferencing platform, Gumzo, which it describes as the first made in Africa video conferencing platform.
Gumzo, which means "chatting" in Swahili, costs users $1 per week to access.
How Gumzo works
Gumzo has unlimited talk minutes and can accommodate an unlimited amount of users, according to Jay Shapiro, CEO of Usiku Games which created the platform.
It has options of screen sharing and full-screen presentation mode, he added.
Unlike many video conferencing applications, it has no app to download or extensions to configure. Its calls happen in the browser so they can work on any phone or computer with internet access.
Shapiro says one of the problems Gumzo addresses is poor network quality. Most video conferencing...
Ever got your water bill at the end of the month and you couldn’t believe how and when you spent that much money on water? Well, it looks like Safaricom has a solution to that with their new Smart Meter and Narrow Band technology.
This robust IoT monitoring platform makes it possible to track real time consumption of water.
Safaricom Smart Meters
On a bright morning in October 2019, teams of technicians fanned out to 20 locations across Embu County to meter various consumers of one of Kenya’s most successful water utilities, Embu Water and Sanitation Company (EWASCO).
The technicians had in hand a set of field network management tools to measure data access performance metrics such as connection data rate and latency on Safaricom’s newly introduced Narrow-Band (NB-IOT) network.
The logistics firm DHL has acquired an undisclosed minority stake in Mall for Africa’s Link Commerce, in a bid to grow its logistics business in Sub-Saharan Africa and other global emerging e-commerce markets.
The acquisition in Link Commerce, the UK-based e-commerce firm helped it launch its DHL Africa eShop platform. DHL went live with the digital retail app in April, bringing more than 200 U.S. and U.K. sellers — from Neiman Marcus to Carters — online to African consumers.
The move to offer Africa eShop to 20 of the continent’s 54 countries comes a month after Africa’s most visible (and well-funded) e-tailer, Jumia, went public. Jumia — which operates consumer retail and online service verticals in 14 African countries — raised more than $200 million in an NYSE IPO.
M-KOPA's Solar fortune might be turning around if their new product proves to be successful. The firm yesterday launched their 14" solar powered digital flat screen TV targeted at people in rural areas that might see it making some serious profits.
M-KOPA's existing customers of their solar lighting kits who have completed paying off their outstanding M-KOPA payments will be able to upgrade to the M-KOPA + TV system where after completing the two years of payment, they will own the systems outright.
M-KOPA CEO, Jesse Moore said that,“What’s remarkable about the M-KOPA + TV is it enables customers to turn the same KES 50 per day that they used to burn on kerosene into a solar-powered 16 inch TV. We are literally turning dirty fossil fuels into a renewable, digital, modern home.”
It’s the weekend, you are staring at your pile of dirty laundry wishing there was a way you didn’t have to do it. In Kampala, Uganda there is an easy and convenient way: Yoza. Yoza is an application that connects people who need their laundry done to the people offering laundry services in the area.
Solomon Kitumba, a 24 year old was inspired to start the company when he was struggling to get laundry done one weekend. He tried to find someone to do it for him and found someone, a single woman who lived right next door. A few weeks later, a working prototype for Yoza was created.
Just like Kenya, in Kampala, there are a lot of students and single professionals who need help with laundry. The people offering these cleaning services may be difficult to reach. Yoza which is growing day by
For nearly the past four months, Facebook has had a live-streaming service that’s sought to rival what Periscope, Ustream, or YouTube offer. But the service has been limited to celebrities and those with verified profiles. Now, the social networking company has revealed that it’s testing its live video offering with more people.
Facebook hasn’t given a time frame for releasing this feature to the general public, but it’s not an easy thing to scale, according to a new engineering post. We do know that the company is starting with a “small percentage” of iPhone users within the U.S. If you’re one of the select few, you’ll notice a “Live Video” option in the “Update Status” dialog box within Facebook’s app — you won’t be using Facebook Mentions.
“Building live video for Facebook was a challe
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