Eden Life, Africa’s first home services app for scheduling food, laundry and cleaning services, has completed a $1.4m Seed round, led by UK-based LocalGlobe, along with participation from Samurai Incubate, Future Africa, Village Global, Rising Tide Africa and Enza Capital. This brings Eden Life’s total investment to date to $2m following pre-seed backing from all of Andela’s original co-founders, and additional accelerator support over the last 18 months. The new capital raised will be deployed to build out Eden Life’s in-house technology and develop its own world-class kitchens and operations hubs, as it builds a new tech-based platform to improve…
Author: Johnson Akinyi
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By Jeremiah Ifeanyi | Nairametrics Also available: FR Published: January 31, 2022 10:31 AM eNaira, the digital currency issued by the Central Bank of Nigeria (CBN), has had 694,000 downloads in the 95 days since it was launched. This was disclosed by sources close to the information at the central bank. eNaira, also recorded less than 10% in P2P transactions, while the Person to Bank and Bank to Person constitute 90% eNaira transactions. CBN has stated that the eNaira transactions recorded range from P2P, that is, Person to Person; or Person to Merchant, P2M; Bank to Person; Person to Bank and Bank to…
Fitch Ratings has upgraded Angola’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B-‘ from ‘CCC’. The Outlook is Stable.A full list of rating actions is at the end of this rating action commentary. Key Rating DriversThe upgrade of Angola’s IDRs reflects the following key rating drivers and their relative weights. HighThere has been a significant improvement in the country’s fiscal and external metrics underpinned by a return to positive economic growth, sound fiscal management and higher oil prices. Oil prices have recovered sharply since the onset of the Covid-19 pandemic and the probability of downside scenarios related to oil markets has declined…
By United Capital Research Published: December 01, 2021 9:32 PM Recent reports of a new coronavirus strain named “Omicron” have coursed through global markets, amid a continuous increase in Covid-19 cases in Europe. First discovered in South Africa, cases have since been recorded in Belgium, Botswana, Israel, and Hong Kong, Nigeria, among others. In a recent report, the Nigeria Centre for Disease Control (NCDC) identified the presence of the new variant in three travelers from South Africa. These new developments are reminiscent of the Delta variant, which was first identified in India in Dec-2020. On 26 November 2021, WHO designated the…
The Central Bank of Kenya (CBK) will start controlling the interest rates of digital loans under a new law that seeks to protect Kenyan borrowers from predatory lending. President Uhuru Kenyatta on Tuesday afternoon signed into law the Central Bank Act, 2021 in legal changes that bring digital lenders under the watch of the banking regulator for the first time. The CBK Act 2021 will see the lenders seek approval of the Central Bank for the pricing of their loans bringing them under the same rules as commercial banks. The law comes in the face of growing concerns on the predatory lending of digital…
If you have yet to hear the recent news about 10Bet launching its services to the people of Tanzania and Gambia, you have an exciting read ahead of you. Recently, the CEO of 10Bet has decided to launch the company’s services throughout a wide range of countries in Africa, with Tanzania and Gambia being just a few of the selected locations. Not only is this fantastic news for all of the online casino and betting lovers out there, but this whole ordeal may actually end up being a net positive for the whole African economy. In this article, we will…
Kenya plans to float two new Eurobonds over the next six months to finance the budget and repay part of the maiden sovereign bond borrowed in 2014. The Treasury told the International Monetary Fund (IMF) it plans to float an issue before the end of this month as part of the external component of budget financing for the current fiscal year, and another one by June 2022 towards refinancing the 10-year, $2 billion (Sh226 billion) bond sold in 2014. The IMF indicates that Kenya will borrow $2.19 billion (Sh247 billion) through the two commercial loans. The IMF made the revelation…
1,328 new cases out of 6,089 tests (22% positive); 4,671 recoveries & 14 deaths (MTSRIP) Vaccinated Dose 1: 5,769Fully Vaccinated: 14,834Booster Vaccinated: 230Covid-19 Deaths: 5Covid-19 Associated Deaths: 9 Total Active Cases: 27,461Total Currently Admitted: 285Community Management: 27,176New Admissions: 45On Oxygen: 114Critical: 29 Cumulative:Confirmed Cases: 282,904Tests: 3,056,874Recoveries: 251,631 (89% Recovered)Vaccinated Dose 1: 570,275 Fully Vaccinated: 1,346,970Booster Vaccinated: 4,157Covid-19 Deaths: 2,802Covid-19 Associated Deaths: 1010Total Deaths: 3,812 Distributed by APO Group on behalf of Zambia National Public Health Institute (ZNPHI).