Author: Today Africa

Sendsprint acquires Nobel Financial Inc. for an undisclosed fee. Damisi Busari, an ex-Flutterwave executive, founded the startup in 2022 with the promise of facilitating transfers for a flat fee of $5. The startup says it processes transfers within 30 minutes and now has operations in Nigeria, Ghana, Kenya, South Africa,

CBN approves Providus Bank and Unity Bank merger. Per a statement by the apex on the X (formerly Twitter), the move is designed to bolster Nigeria’s financial system. This news comes months after Providus Bank made moves to acquire a major stake in Unity Bank. According to the CBN, it

Meta rolls out monetization tools for content creators in Kenya, which would them allow them earn money. The features, accessible started yesterday, August 6, 2024. It includes in-stream ads and Facebook ads on reels to be placed before, during or after content videos whether prerecorded or live-streamed. This new monetization

High Court sets bail terms for MTN Nigeria fraudsters amid ₦1.9 billion. The court in Lagos reportedly granted a ₦50 million bail to two persons arraigned for defrauding a telecoms company, MTN Nigeria.  The presiding Judge, Justice Akintayo Aluko, granted them bail after hearing two applications from the defendant’s representatives.

Jumia’s revenue falls 25% in Q2 as operating losses rise to $20 Million less than it did during the same period last year.  Gross merchandise value also fell in Q2; it recorded a GMV of $170.1 million compared to $181 million in Q1. Its gross profit saw a 6% decline

Kenyan mobility startup Mobius to shut down following failed year-long recovery efforts. Under the Insolvency Act following financial struggles which hindered it from settling suppliers and paying salaries. Per a notice seen by Techpoint Africa, a creditors’ meeting has been set for August 15, 2024, at Mobius Factory in Nairobi, Kenya. To

Standard Bank’s security tool targets vishing threats in South Africa. Once activated and consented to by the client, the feature notifies users of suspicious calls. This move follows a warning about an increase in vishing fraud targeting older people who are approaching retirement or have recently received their cash payouts.