Jumia is set to increase the small business loan scheme it initiated earlier this year to boost more small businesses in Africa. The program will be expanded into every Country where the Company operates. Working with the San Francisco-based lender Branch, Jumia began offering start-up loan for small businesses in May. The loans were pegged to vendors sales history with Jumia and projections for the future performance of the businesses. Photo Credits In Kenya, sellers received loans of up to 30,000 Kenyan shillings (roughly $290), with a six-month term on the loan to finance their businesses. Interest rates on the loans are 1.2% per month. The loans are made available in seconds on the Branch app and are di
A new partnership between DHL and MallforAfrica will enable African traders to easily sell their products to US customers through an eBay platform powered by MallforAfrica This deal will help them(African traders) drop and pick up their wares at DHL Express points in the US. DHL Express currently handles inbound express delivery for MallforAfrica and has enabled its customers importing from the US to receive their packages seamlessly in Nigeria, Kenya, Rwanda and Ghana. This is a watershed partnership for African businesses as it allows them an avenue to trade on the global stage. According to Chris Folayan, CEO, MallforAfrica, “Both companies have a common goal of seeing African e-commerce businesses thrive on the global stage. We want to contribute to the future of e-commerce g
The current discussion of Africa’s heralded economic growth and rise as a world power is leading to increased optimism and self-confidence on the continent. As more African students become interested in dynamic careers that require skills that apply Science Technology Engineering and Math, African nations have begun to accept the growing STEM educational opportunities that men and women are providing in their respective nations. STEM are applied educational initiatives that have a foundation in the scientific models, but integrate hands-on learning, team work, building leadership skills and incorporate higher order and critical thinking skills. The more African’s are involved in STEM the more they can assure they will have a stake in how their nations and continent are growing and in
Drivers attached to online taxi service providers have said they will down their tools on Monday to protest reduction of their wages. The drivers allied to Uber, Taxify, Little Cab and Mondo Ride say the management decided to lower their rates without consulting them. They said the strike was prompted by the improper management of their service providers with their services not to be availed until further notice. In a phone interview with Digital Taxi Association of Kenya’s (DTAK) Chair Mr. David Muteru, he echoed the above stating, “We are differing on pricing, because the prices are just not fare. The service providers commission is still high but they keep lowering the fares to accommodate customers.” When asked about the impending strike, the chair stated that they will be pre
Facebook, the biggest social networking giant, has decided to finally make money from WhatsApp by charging businesses that want to conduct customer support in the app. The social media platform snatched up WhatsApp in 2014 for a whopping $22 billion, but the popular messaging service still isn't making Facebook much cash despite WhatsApp's 1 billion daily users. The app used to charge users a $1 per year subscription but dropped the fee in early 2016. WhatsApp co founder Jan Koum has long been a staunch opponent of traditional advertising and has promised that the app will never show ads. WhatsApp's program for businesses will charge large companies that want to be verified and have access to a suite of automated tools for helping and responding to customers, the Facebook-owned ap...