Telecommunications giant; Safaricom has secured a mobile money license from the Ethiopian government. The license will now make it possible for Safaricom’s mobile phone based money transfer service, payments service and micro financing service to be launched and begin operations in Ethiopia. With this, Safaricom will now become the very first non Ethiopian telecommunications company that will be granted a mobile money license, a little over a year after it first secured its telecommunications license that made it possible for it to carry operations in Africa’s second (2nd) most populous nation with over 115 million people living in it. The…
Author: Tobey
Meta Platforms Inc, which was formerly known as Facebook , Inc., has now updated its terms and conditions to make it possible for it to provide personal information on its users to investigative authorities and tax authorities from January 2023. This means that the Kenya Revenue Authority (KRA) will now be able to better discover and or monitor businesses using Meta’s platforms to generate revenue. In the updated terms and conditions for Meta Platforms Inc which also owns WhatsApp, Instagram, and Facebook the American multinational technology conglomerate, made it known that entrepreneurs who make use of any of its platforms…
According to latest reports Kenya’s leading communications company; Safaricom, is looking to undergo a restructure that will see it transform into a holding company. This means that the holding company will then be home to M-Pesa which is the world’s first ever mobile money transfer system, the Ethiopian arm of Safaricom, as well as Safaricom’s telecommunications operations. All three (3) will then become subsidiaries of the holding company. The Chief Executive Officer (CEO) of Safaricom; Peter Ndegwa made it known during an interview that the company does not have any intention to separate its M-Pesa service from Safaricom even with…
The Chief Executive Officer (CEO) of cryptocurrency exchange and derivative trading platform; BitMEX made it known during an interview with CoinDesk at the Token2049 conference in Singapore. The Chief Executive Officer (CEO); Alexander Hoeptner while speaking to CoinDesk which is a leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web3 news with analysis, video and live price updates stated that, “If you launch a token in a market which clearly is not at all at the bottom, then your token will be drained down with the general environment.” In July of 2022 BitMEX made it known that…
According to recent reports Tesla’s Chief Executive Officer (CEO); Elon Musk’s decision to go ahead with his purchase of social media giant; Twitter, would result in a wild spread lose of jobs to in its employees. An exclusive released by The Washington Post revealed that Billionaire; Elon Musk had stated to a number of potential investors that along with his deal to purchase Twitter, he would layoff around seventy five (75) percent of its entire workforce of 7,500 employees. The Washington Post which is an American daily newspaper published in Washington, D.C. cited documents and interviews as its sources. According…
Big time financial services holding company; KCB Group also known as KCB Group Limited has reportedly seized popular Mombasa based luxury hotel; English Point Marina again. The move was made after the court removed a ban executed back in July of 2022 that prevented KCB Group from seizing or taking ownership of the property as a result of the 5.2 billion Kenyan Shillings it owes. The Court of Appeal has stopped orders from the High Court by Justice Dora Chepkwony that prevented Kamal Anatroy Bhatt who was appointed as the Receiver Manager for KCB Group, from seizing the property. The…
Popular estate in Nairobi; Kilimani has now been ranked as one of the best neighborhoods in the world. This is another stamp of approval for the East African nation of Kenya with regards to its tourism sector. A recent ranking by Time Out placed Kilimani as the Number One estate in Africa and the 28th in the world out of a total of 51 entries on the list. Time Out describes itself as the ultimate guide to the best art and entertainment, food and drink, attractions, hotels and things to do in the world’s greatest cities. Read Also: 60,000 Residential…
With the launch of Safaricom Telecommunications Ethiopia on the 6th of October 2022 in Ethiopia’s capital of Addis Ababa the telecommunications giant; Safaricom, has now become the very first telecommunications company in the country which has a population of around 118 million. The launch also had the President of the Republic of Kenya; William Ruto and the Prime Minister of Ethiopia; Abiy Ahmed present. This dissolves the previous monopoly held by Ethio Telecom which was 100 percent owned by the government of Ethiopia. The Ethiopian government has begun its “Digital Ethiopia 2025” which is aimed at aiding the country in…
In the last couple of years American multinational financial services giant; MasterCard, has continued to position itself as one of the cryptocurrency focused companies in the world, with a number of its top staff also being active advocates for the sector. Now, the company has launched a new product it calls ‘Crypto Secure’ which will among other things, ensure that it helps banks in curbing the cases of fraud that are sometimes associated with digital assets. Mastercard has with this new product launch strengthened its efforts in the cryptocurrency industry, and also reduce frauds and scam cases that affect the…
The Kenya Power and Lightning Company (KPLC) has revealed that the adjustment of fuel prices and the inflation situation in Kenya are the reasons why the cost of electricity tokens have increased. The public liability company stated that the Energy and Petroleum Regulatory Authority (EPRA) adjusts the prices of the electricity tokens every month. In their words, “The regulator has adjusted the fuel cost and inflation components of the bill, hence the increase in the token price. This is done monthly by EPRA.” Read Also: Fuel Prices In Kenya To Reach Highest In Country’s History Without Subsidy The token price increase…
With games in the Non-Fungible Token (NFT) world beginning to really pick up speed the industry heavyweights in the conventional video game sector, are beginning to show more interest in Web3 development. As a result, they have begun to invest significant amounts of money into the blockchain gaming companies. Video game studio and blockchain infrastructure company; Horizon Blockchain Games has made it known that it successfully raised 40 million United States Dollars (USD) which is around 4.9 billion Kenyan Shillings, during a Series A round of funding. Take-Two Interactive and Ubisoft were also involved. The press release by Horizon Blockchain…
Pan African technology company; Jumia has entered into a partnership with American company; Zipline. The partnership between Jumia which has a marketplace, logistics service and payment service and Zipline which manufactures, designs, and operates delivery drones, will make it possible for Jumia to make on demand drone delivery services available to all e-commerce users on the African continent. The news is coming after a pilot phase was first carried out in Ghana earlier in the year. The pilot test in question executed 1 hour deliveries from as far as 85 kilometres from take off point. It also involved real time visibility…
Back in February of 2022 African financial technology behemoth; Flutterwave, made it known at an event, that it would be integrating Apple Pay and Google Pay into its variety of payment options. The bold announcement was made not long after it had successfully raised 250 million United States Dollars (USD) which is around 3.13 billion Kenyan Shillings when converted. Now less than 1 year after that declaration users of the global payment service; Google Pay, will now be able to utilize it for transactions with all merchants on Flutterwave’s stores. The news is coming not long after the fintech giant’s…
Elon Musk’s reopened interest in microblogging and social networking service; Twitter has led to an 8.2 percent price boost for popular cryptocurrency; Dogecoin. The love story between Twitter and the Chief Executive Officer (CEO) of Tesla; Elon Musk first made headlines in April of 2022 when he purchased a total of 70 million shares in Twitter which translated to 9.2 percent of the company. Not long after, the Billionaire pledged to purchase the social media platform for a total of 44 billion United States Dollars (USD) which is around 5.32 trillion Kenyan Shillings, and modify it into a private entity.…
