Safaricom’s newly unveiled data centre in Addis Ababa Business Insider Africa understands that the facility cost about $100 million to construct and was put together by Huawei and Nokia. Safaricom said it plans to construct two additional data centres and will erect about 7000 network towers across Ethiopia in the next five years. Recall that […]
Tag: safaricom
Led by Kenya-based entrepreneurs Tesh Mbaabu and Mesongo Sibuti, MarketForce closes the largest Series A round of its kind in East and Central Africa
[L – R]: MarketForce co-founders, Mesongo Sibuti and Tesh Mbaabu The funding round was led by V8 Capital Partners, a London and Lagos based African-focused investment vehicle. This latest round brings the total funds raised by MarketForce to date to $42.5 million. Ken Njoroge, co-founder and former CEO of Cellulant, also participated in the round […]
Explained: Airtel Kenya’s Legal Tussles With the Communication Authority
Airtel Kenya and the Communications Authority of Kenya have always had a tussle about money, especially regarding spectrum fees. The fight has been ongoing for some time now, and has for a long time seen the operator and the regulator go to court in an attempt to iron things out. Before we can look at […]
MTN Group is the biggest company in West Africa by market capitalization – here’s the Top 30 list
A worker walks past an outlet of South Africa’s MTN Group in Johannesburg, South Africa, February 23, 2016. REUTERS/Siphiwe Sibeko/File Photo The market cap of the Top 30 companies for January 2022 was US$116bn, up 4.7% in December. BUA Foods (Nigeria) and Access Bank (Nigeria) are new entrants in the Top 30, replacing Jumia Technologies […]
Telco-led banking – a new phase for fintech in Nigeria
Mobile money Acquiring a mobile phone and opening a bank account are two significant but separate events for many Nigerians. However, if Mobile Network Operators (MNOs) in the country successfully launch banking operations as planned, acquiring a mobile phone could mean owning a bank account without needing traditional banks. “Banking in Nigeria remains an attractive […]
US flags Kenya for relaxing dirty cash reporting rule
Kenyan officials handling money-laundering investigation files are tipping account holders of suspicious transactions to move their assets before raids, hampering the fight against money launderers. A new US report tracking the global money-laundering hotspots also says Kenya appears to have taken a step back in the fight after last year it lifted the threshold of […]
97pc of NSE share trading accounts remain dormant
Securities trader Mbuthia Irungu at Nairobi Securities Exchange (NSE) trading floor at the Exchange building in Nairobi on August 26, 2020. PHOTO | SALATON NJAU | NMG Nearly 97 percent of equities accounts used for trading at the Nairobi Securities Exchange (NSE) have been dormant in the past two years, revealing the apathy among retail […]
Global Banking & Finance Awards® 2021 – 1
LONDON, ENGLAND, February 23, 2022 /24-7PressRelease/ — Global Banking and Finance Review is privileged to honour those financial institutions who have achieved outstanding results and who stand out in their particular area of expertise in the banking and finance industry. Global Banking & Finance Review would like to congratulate the award winners and look forward […]
Treasury targets Sh50 billion from March bond sale
The National Treasury is seeking to raise Sh50 billion from three bond sales in March, comprising reopening of securities that were first auctioned between 2020 and last year. The government’s fiscal agent, the Central Bank of Kenya, on Thursday opened the sale of a five-year, 15-year and 25-year bond and the period of sale closes […]
State to reveal names, homes of tender tycoons
Attorney General Paul Kihara Kariuki. PHOTO | JEFF ANGOTE | NMG The State will start making public the names, residential addresses and occupation of secret shareholders in companies that clinch tenders in ministries and parastatals. Attorney-General Kihara Kariuki has unveiled fresh regulations that will compel the Public Procurement Regulatory Authority (PPRA) to reveal information on […]