Visa has officially confirmed that it has acquired a stake in Interswitch, one of Africa’s biggest fintech companies. The deal is now subject to regulatory approval and is expected to close in the first quarter of 2020. Once completed, Visa will join firms like the IFC, Helios Investment Partners, TA Associates as shareholders. Both companies […]
Thanks to scandals, the e-commerce company has had a rocky year since it listed on the New York Stock Exchange in April. But its Q3 report is a bit of a mixed bag.
OLX Group has announced it will lead the Series D funding round in Berlin-based Frontier Car Group (FCG). OLX, which is owned by Naspers’ digital division Prosus, said it will invest as much as $400 million in the company.
The Central Bank of Nigeria (CBN) wants banks to lend more. This time it’s not just talking. It is compelling them, somewhat. But the new policy it has issued could set the stage for the first real tussle between banks and fintechs.
Beginning from October 28, Glomobile (Glo) subscribers may be barred from dialling Airtel numbers. According to a pre-disconnection notice served by the Nigerian Communications Commission (NCC), dated October 18, the ban is due to Glo’s non-settlement of interconnect charges. Once it kicks in, Glo’s 47 million subscribers will be able to receive calls from Airtel […]
Nigerian car auction company Cars45 has announced its expansion into Kenya. The company, whose core service involves technical inspection, valuation and sale of used vehicles within an hour, is positioning itself to tap into the increasingly attractive East African market. Kenya is its first foray beyond West Africa and this announcement comes as it looks […]