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M-KOPA Posts First Ever Profit, Bets on E-Mobility for Next Growth Phase
The Nairobi-based fintech swung to a US$9.2 million profit in 2024 from a US$20.6 million loss the previous year, according to audited results seen by The Kenyan Wall Street.
- Categories
- Finance, Technology, Transportation
- Region
- Sub-Saharan Africa
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World Bank Chief ‘Not Certain’ Developing Nations Can Leapfrog With AI
World Bank Group President Ajay Banga is skeptical about AI's leapfrogging opportunity, but experts believe that while challenges exist in Africa, so do opportunities for advancement.
- Categories
- Agriculture, Health Care, Technology
- Region
- Sub-Saharan Africa
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The Bank of Industry and Bumpa to Empower 200 Youth-led MSMEs
"The collaboration, implemented under the youth and skills thematic area of the bank, aims to address the critical challenge of market access for young entrepreneurs . . . "
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Humanity AI Commits $500 Million to Build a People-Centered Future for AI
"As AI becomes more ubiquitous across every area of society and in people’s daily lives, it is prompting people to ask fundamental questions about their role and value in an AI-driven future."
- Categories
- Technology
- Region
- Global
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Medusa Submarine Cable Linking Europe to Sub-Saharan Africa Begins Deployment
The initiative, led by Barcelona-based AFR-IX Telecom, will establish a major data corridor over an 8,700-kilometre path.
- Categories
- Technology, Telecommunications
- Region
- Global
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PayPal Commits $100 Million to Accelerate Digital Growth Across the Middle East and Africa
This strategic investment will be deployed through a mix of minority investments, acquisitions, PayPal Ventures funding, people, and technology deployments that will help local businesses scale, etc.
- Categories
- Technology
- Region
- Global
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Mawingu Raises $20 Million to Expand Affordable Internet Across Rural Kenya
Mawingu’s model combines solar-powered wireless technology with a community-focused approach to bring down costs and overcome the logistical hurdles that have kept larger telecommunications companies out of these areas.
- Categories
- Energy, Technology
- Region
- Sub-Saharan Africa
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How India’s Non-Bank Financial Companies are Closing the MSME Credit Gap — And What Other Emerging Markets Can Learn from Their Success
Micro, small and medium-sized enterprises (MSMEs) make up around 90% of businesses and employ over half of the workforce globally, while generating up to 40% of GDP and creating 70% of formal jobs in emerging markets. Yet according to Sameer Nanda at Ugro Capital Limited, these businesses face an ongoing credit gap that, in India alone, amounts to an estimated ₹80 trillion. He explains how non-bank financial companies are addressing this gap by offering dynamic and flexible lending services designed for MSMEs — and shares useful lessons from their approach that can be applied in other emerging economies with similar credit challenges.