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Recently, the *Competition Authority of Kenya (CAK)* granted its approval for Moniepoint to acquire a substantial 78% stake in Sumac Microfinance Bank, based in Nairobi. While the regulatory green light is a significant milestone, it's important to recognize that the conclusion of this deal remains pending. In a recent statement to Techpoint Africa, Moniepoint conveyed that they have received the necessary regulatory approval from the CAK for the potential partnership with Sumac. The company…

Connecting Continents: Ethiopian Airlines and Sharjah Airport Partnership A new chapter in international connectivity has unfolded as Ethiopian Airlines launched its inaugural flight to Sharjah Airport. This event, celebrated with a warm reception attended by senior officials and dignitaries from both sides, marks a significant milestone in strengthening ties between Ethiopia and the United Arab Emirates (UAE). With a commitment to enhance…

In an exciting development for both Ghana and the United Arab Emirates (UAE), a memorandum of understanding (MoU) has been signed to create a state-of-the-art technology and innovation hub. This initiative aims not only to accelerate Ghana's digital transformation but also to establish the nation as a regional pioneer in artificial intelligence (AI) and emerging technologies. It’s an ambitious step that beckons the question: What could this mean for the future of technology in West Africa? The agreement was…

Across the vibrant and diverse landscape of Africa, a quiet transformation is taking place that is reshaping the continent’s digital future. Governments are exploring innovative Information and Communication Technology (ICT) policies that not only recognize the importance of technology but also champion data protection laws, broadband access strategies, and regulations aimed at fostering growth. Enter the International Telecommunication Union (ITU) and its forward-thinking ICT Regulatory Tracker. This vital tool offers a…

In a remarkable gesture that highlights the intersection of philanthropy and global goodwill, President Bola Ahmed Tinubu has recently bestowed the prestigious title of Commander of the Order of the Federal Republic (CFR) upon Bill Gates. This honour is a testament to Gates' unwavering commitment to enhancing global health, advancing education, and alleviating poverty—all areas where his contributions have brought about significant change. As Gates visits Nigeria, his agenda includes critical discussions with President…

Your Essential Guide to Understanding Insurance Imagine a world where everything you hold dear—your home, your car, your business, even your furry friends—could be safeguarded against the uncertainties of life. What if there was a way to ensure protection without breaking the bank or getting tangled in confusing fine print? Sounds appealing, doesn’t it? Enter QuoteRadar, the innovative platform that simplifies your search for the best insurance products in the UK. With its user-friendly interface and wealth of resources,…

In our fast-paced, ever-evolving world, staying connected is more important than ever. But what if I told you there’s a groundbreaking solution that makes this connection seamless and efficient? Enter the eSIM. With the visionary strides of Prestmit, this revolutionary technology is making its mark across Africa, simplifying global connectivity for individuals from all walks of life. What Exactly is an eSIM? An eSIM, or embedded SIM, is a digital incarnation of the traditional SIM card. Instead of the…

Starlink's Service Interruptions: Understanding the Impact and Challenges in South Africa Recently, a wave of unsettling emails swept through the inboxes of customers subscribed to Starlink’s Roam Unlimited and Global Roaming packages. The messages delivered unwelcome news: accounts had been terminated due to utilization in an “unauthorized territory.” One particularly alarming excerpt read: “You are currently using Starlink in an unauthorized territory. As a result, your service will be suspended…

In an encouraging turn of events for the banking sector, Fitch Ratings has recently upgraded the rating of Fidelity Bank, highlighting the organization's remarkable resilience and effective strategies. This significant uplift was attributed to Fidelity Bank’s successful capital raise through a rights issue and public offering, along with an impressive improvement in its profitability, largely driven by increased interest income paired with a solid foundation of low-cost current and savings deposits. Dr. Nneka Onyeali-Ikpe,…

The Alarming State of Blocked Airline Funds: A Deep Dive Into Africa's Aviation Sector The International Air Transport Association (IATA) recently published a comprehensive report that’s raising eyebrows across the globe. What’s particularly striking is that out of fifteen nations listed, twelve from Africa are responsible for approximately 65% of the total blocked airline funds, which resonates to the tune of $846 million—that's quite a hefty sum. Altogether, these funds, which stand at an alarming total of $1.3…