IHS Towers to sell 70% stake in Kuwait operations to Zain Group for $230M

IHS Towers is selling a 70% stake in IHS Kuwait to Zain Group for $230M, aiming to optimise its portfolio and reduce debt. The deal is set to close in 2025.

Verve cards are now accepted on AliExpress. But their issuing business tells a sweeter story

Verve has grown card issuing by 40% year-on-year, in the last two years. This article reports the news of their partnership with AliExpress while going deep into three growth eras they've experienced.

How to pitch your news story to Condia

We're more likely to cover your news if it's an exclusive. We'll always provide prompt feedback, whether it's a yes or a no.

First SVB, now Mercury. US banks leave African startups in dire straits

Mercury’s stumble from fintech hero to a target of federal scrutiny highlights the complex interplay between rapid growth, regulatory compliance, and financial stability

Crypto exchange, OKX announces plans to exit Nigeria market.

Cryptocurrency exchange OKX has announced its plans to exit the Nigerian sector. According to an email sent to its Nigerian customers on Wednesday, it intends to discontinue services in the Nigerian market because of the country's unfavourable regulatory conditions.

Top telcos shape to rival Starlink in Africa’s costly internet capital

In Zimbabwe, the entry of Starlink, Elon Musk’s disruptive satellite internet platform, is causing a stir. After getting a license two months back, the service plans to launch in the third quarter of 2024, pushing local internet providers to rethink. Zimbabwe’s internet has long been expensive and limited in coverage. Average data costs are higher […]

Uganda reinstates 25% import duties on import of all Electric and Hybrid vehicles

Uganda has hiked import duties by 25% on all electric vehicles coming into the country, a big jump from 0% in the past fiscal year.

On NDIC’s disbursement of ₦650 bn to 2.3 million insured Heritage Bank depositors

The Nigeria Deposit Insurance Corporation (NDIC) has begun paying out the trapped funds of depositors at the now-defunct Heritage Bank.

Ride-hailing services now need to apply for licences in South Africa

The South African president Cyril Rumaphosa has amended the National Land Transport Action Law to enable Bolt, Uber and other ride-hailing platforms in the country to apply for operating licenses like other public transport service providers. Previously, these companies operated in a regulatory grey area relying on charter permits and metre taxi operating licences.  Now […]

inDrive avoids ban in Nigeria’s capital, secures licence

inDrive started offering rides in Abuja in March 2023 and quickly became popular, with users averaging 212 rides each in the first few months. 

After Zimbabwe, its Botswana granting Starlink a license

Botswana is the latest African country to grant Elon Musk's Starlink an operating license. The approval follows a meeting in Dallas, Texas between the service's executives and the country's leader, President Mokgweetsi Masisi.

Brass co-founders exit as fintech gets acquired by Paystack-led consortium

Following the acquisition, Brass will continue to build and support its customers and grow with a new leadership team.