The tech and financial landscapes across Africa are buzzing with new developments, from Nigerian fintech expansions and healthcare initiatives to pioneering electric minibus taxis in South Africa. Here’s a look at some of the latest moves that are reshaping industries across the continent.
LendsQR Expands to Kenya, Streamlining Loan Processing
LendsQR, a Nigerian fintech founded by Deji Olowe, has officially entered Kenya with its innovative loan processing platform. The platform aims to help Kenyan banks and lenders make faster, data-driven credit decisions. By providing a seamless digital experience, LendsQR hopes to transform how lending operates in Kenya, ultimately supporting financial inclusion and making credit access more efficient.
Zimbabwe’s New WhatsApp Rule: Licenses for Group Admins
Zimbabwe has introduced a new measure to tackle misinformation on social media. The Postal and Telecommunications Regulation Authority (POTRAZ) now requires WhatsApp group administrators to have a license. Starting at $50, the license fee can go up to $2,500, depending on the group type. This rule is intended to regulate online information, but it has sparked debate about its impact on free speech and online community management.
Jumia’s Q3 Report: Revenue Drops but Engagement Rises
Jumia’s Q3 financial report revealed a 14% drop in revenue due to currency depreciation. However, customer loyalty remains strong, with orders increasing by 6% and JumiaPay processing 2 million transactions. While Jumia navigates financial hurdles, the increased customer engagement signals potential for future growth as the e-commerce giant works to stabilize cash flow.
NetOne’s Affordable Healthcare Plan: OneHealth
Zimbabwe’s NetOne has rolled out OneHealth, a healthcare plan costing just $1 per month. OneHealth includes a monthly doctor’s visit, $30 worth of medication, and a three-month waiting period. This initiative is a step forward in providing affordable healthcare in a country where only 7% of the population has health insurance, bringing essential services to those previously excluded.
Chumz Expands to Rwanda After Reaching 200,000 Users in Kenya
Kenyan savings app Chumz, which ties saving to spending habits, has hit a milestone of 200,000 users and is now expanding to Rwanda. Chumz enables users to save in small increments, as little as $0.05, helping them develop better financial habits without a significant financial burden. This expansion aligns with Chumz’s goal to promote financial discipline across Africa.
MoniePoint Hires New CFO, Bayo Olujobi, to Fuel Expansion
Nigerian fintech MoniePoint has appointed Bayo Olujobi as its new Chief Financial Officer, previously of Stanbic IBTC. With a seasoned financial expert on board, MoniePoint aims to strengthen its expansion plans and navigate regulatory challenges more effectively. Olujobi’s expertise is expected to be instrumental in scaling the company’s operations and ensuring sustainable growth.
Kenya Blocks Telegram During National Exams to Curb Cheating
In a bid to prevent cheating during national exams, Kenya has temporarily restricted access to Telegram. This decision follows a similar move last year after exam questions were leaked on the platform. By blocking Telegram, the government aims to maintain exam integrity and prevent further leaks.
South Africa’s First Electric Minibus Taxi Service, eKamva
South Africa is set to launch its first electric minibus taxi service, eKamva, in early 2025. The electric taxi service is a collaborative effort between Gometro, Powerfleet, and Stellenbosch University’s Faculty of Engineering. The minibuses will have a 200km range and the capability to fast-charge in just 75 minutes. This innovative service is a major step towards sustainable urban transport in South Africa.
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