Inside Kenya’s recently released ICT policy, foreign tech companies looking to set up shop in Kenya would have to relinquish 30% ownership rights to Kenyan citizens. We explore the possible effe…
The possible downsides of Nigeria’s progressive Company Act for SMEs, startups
Amendments to Nigeria’s company laws have been recently approved. Though they now contain several business-friendly provisions, given the country’s existing structures, SMEs and startups m…
Q2 2020: Jumia shares crash 40% as earnings reveal drop in losses and sales value
Jumia’s financial report for Q2 2020 reveals that the eCommerce giant saw the entire value of its sales drop during the pandemic. Despite this drop, the company saw its loss decline for a second conse…
Lagos to enforce regulations on Uber, Bolt, others from August 20, 2020
The Lagos State Government is set to enforce regulations on ride-hailing companies. Key highlights include a ₦25 million licence fee, state driver badge, and a vehicle not older than three years from …
NCC: Nigerian banks, not customers, to pay for USSD sessions
Nigeria’s telecom regulator, NCC has ordered mobile network providers to agree with banks on a newly approved USSD charge. Though customers are excluded from paying, they might still end up bea…
Colombian-based accounting startup, Alegra expands to Africa, hopes to dominate market
Alegra is a Colombian-based accounting software for MSMEs being used in 25 countries. With the backing that comes from being part of the Endeavor network, Africa is its next target market.…
