Technology

Alfluence

Kenyan Marketing Startup Alfluence Raises $1 Million in Venture Funding

Kenyan marketing platform Alfluence Inc has raised $1 million (Sh108 million) led by Dubai-based EQ2 ventures joined by Nigeria VC OUI Capital, Arabyads, Antler East Africa, and participation unnamed European family office. The new seed capital by the global venture capital backers will significantly help the company expand into new markets, majorly in Africa, the …

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Credit Fair

Credit Fair, Fintech Startup Raises $15 Million in Seed Funding by Two Investors

Credit Fair, a consumer-lending fintech startup, has raised $15million as part of a seeding round led by two angel investors Alok Agarwal and Anand Ladsariya. The two investors have backed other startups in the past, including Ola, Myntra, Wow Momo, Uniphore, and Oyo. The funds will enhance underwriting models, build a better technology team and …

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TikTok

TikTok Bans Advertisements by Cryptocurrency Influencers

Social media giant TikTok has taken a drastic step toward not only banning cryptocurrency influencers on its platform but all creators promoting financial services. These include, but are not limited to, cryptocurrencies, buy now pay later companies, loans, credit cards, and Forex companies. The move is aimed at halting a growing tide of unsuitable high-risk …

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Google

Google Launches $6 Million Program Funding to African Startups

Google has rolled out three programs worth Kes. 642 million ($6 million) which are expected to support women and young entrepreneurs and innovators in at least 13 African countries. Under the first program, Google.org will grant Kes. 321 million ($3 million) to the Tony Elumelu Foundation to support women-owned startups in the continent to upscale …

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Tala Visa

Tala Partners with Visa to Offer Crypto to the Unbanked

Global payments giant, Visa, has partnered with Tala, a mobile lending service in emerging markets, with a particular focus in Kenya, to bring the USDC stablecoin to the underbanked population. The companies announced that the idea behind this partnership is to provide easier access to cryptocurrencies for underbanked consumers, beginning with USD Coin (USDC), a stable-coin …

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Image of Visa Logo

Visa in Move to Spark Kenyan fintech Growth Through Visa Everywhere Initiative

Visa has announced the 2021 edition of the Everywhere Initiative. The initiative opens an innovation program that tasks start-ups and fintechs to solve the payment and future commerce challenges and enhance their own product propositions and provide visionary solutions for Visa’s vast network of partners. The program was first launched in the U.S. in 2015 …

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Bitcoin

Unknown Investors Transact $239 Million worth of Bitcoin, as BTC Tumbles to $31,000

Data obtained from Whale Alert, a crypto analytic tracker, revealed that an unknown BTC whale transferred 7,500 BTC worth $238,801,020 transferred from an unknown wallet to an unknown wallet. A growing number of powerful investors have recently been increasing their transactional volume in Bitcoin’s market, triggering the flagship crypto to trade $31,000 price level. Global …

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Safaricom and KBL Partner to Connect Coolers Across Kenya.

Telecommunications company, Safaricom Plc has today officially announced a partnership with Kenya Breweries Limited (KBL) to connect and enhance its coolers. The connected coolers are wired with sensors which leverage on the Internet of things (IoT) – the inter-networking of “smart” devices that collect and exchange data. They will be provided free of charge to …

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Abojani Gears up for 2020 as First Anniversary Investment Summit Records Success.

Abojani Investment, a digital first personal finance management company that teaches investors on personal finance and investing in the stock market and money markets held it’s first ever investment summit on Saturday. The event dubbed #InvestIntelligently was held at Ngong Hills Hotel in Nairobi. The main speakers were Paul Mwai, CEO AIB Capital and board …

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Safaricom shares Stable on News of Planned Stake in Ethio Telecom.

Safaricom Shares slightly rallied by 0.71% but stabilized to 28.50 this morning after news on talks to acquire stake in Ethio Telecom went public today. Safaricom’s Acting Chief Executive Michael Joseph yesterday said they were at an advanced level of talks with the Ethiopian regulators to get licence of operations; starting from scratch or through …

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Former CBK Governor urges greater mobile money connectivity

The study, carried out by former Central Bank of Kenya (CBK) governor Njuguna Ndung’u shows that Safaricom’s control of a large proportion of the mobile money market gives it incentive to restrict access to competitors. Prof Ndung’u, during whose reign as CBK boss Safaricom’s M-Pesa money transfer services were licensed and launched, said the cost …

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