Uganda’s core inflation falls to 3.3%, below the central bank’s target of 5%
Uganda’s annual inflation rate for March 2024 fell slightly to 3.3%, down from 3.4% in February 2024. This remains below the Bank of Uganda’s (BoU) target of less than 5%. The development comes after the BoU maintained the central bank rate (CBR) at 9.5% in February 2024, in a bid to manage inflation. Data seen […]
Read MoreKenya’s March inflation drops to 5.7% as KES gains against the US dollar
Kenya’s overall year-on-year inflation rate dropped to 5.7% in March 2024, a slight fall from February’s rate of 6.3%, per data seen by TechCabal. Between March 2023 and March 2024, Kenya recorded increased costs in transportation (up 9.7%), housing and utilities (up 8.0%), and food and beverages (up 5.5%). However, the cost of these commodities […]
Read MoreFrom viral videos to big bucks: How Nigerian skit-makers make money
In 2023, Ali Baba, one of Nigeria’s veteran comedians, nearly broke the internet when he shared that popular Nigerian skit-maker, Mark Angel earned over $300,000 monthly from his YouTube videos. The 32-year-old creator, became an internet sensation in 2016 when skits of antics with his little cousin Emmanuella started going viral. Skit-making is almost synonymous […]
Read MoreLink NIN or BVN to First Bank, Fidelity, Opay & other banks 2024
Linking your National Identification Number (NIN) to your Bank Verification Number (BVN) has become crucial for continued access to your bank account. Here’s a guide on how to link NIN or BVN to First Bank, Fidelity Bank, Opay & other banks and fintech companies in Nigeria. How to link NIN/BVN to First Bank account Here’s […]
Read MoreNew SASSA SRD April payment dates and procedures 2024
Like the SRD, the South African Social Security Agency (SASSA) has unveiled the payment schedule for various grants in April 2024. Beneficiaries can expect their funds to be deposited according to the following breakdown: Senior Beneficiaries Older Persons SASSA SRD Grants payment will be starting Wednesday, April 3, 2024. This includes any linked grants associated […]
Read MoreAccess Holdings to raise $1.8bn ahead of Nigerian banks’ recapitalisation
Access Holdings the parent company of Nigeria’s largest bank by asset base, Access Bank, plans to raise $1.5 billion (₦2.09 trillion) through a bond or share sale and a further $287 million (₦399.9 billion) from its shareholders via a rights issue to fund its ambitious growth plans as well as meet up with a new […]
Read MoreWho calls the shots at women-focused startup Herconomy?
Since its founding in 2021, Herconomy claims to have amassed over 10,000 active users. The startup is not just a female-led fintech but also a community initiative. Ife Durosinmi-Etti, an author and a 2016 recipient of the Tony Elumelu Foundation Entrepreneur Award leads as the founder and CEO. In 2010, a report by the National […]
Read More👨🏿🚀TechCabal Daily – Meta caught spying on Snapchat, Youtube and Amazon
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Happy Friday Remember Sam Bankman-Fried, the founder of the now-defunct crypto exchange—FTX Trading Ltd—who was convicted in November 2023, of orchestrating a massive fraud that led to the collapse of his FTX exchange, and the loss of about $10 million in customer […]
Read MoreCentral Bank of Nigeria withdraws Cellulant’s mobile money licence as company focuses on payment solutions
The Central Bank of Nigeria (CBN) has revoked the mobile money licence of Cellulant Nigeria, a subsidiary of one of Africa’s oldest fintech companies Cellulant Corporation, according to a letter addressed to the company and seen by TechCabal. The revocation took effect on December 6, 2023. Cellulant is therefore leaving the consumer-facing mobile money market […]
Read MoreHow CAF president Patrice Motsepe could impact Canal+’s bid for MultiChoice
Patrice Motsepe, the president of the Confederation of African Football (CAF) and one of Africa’s richest persons, is reportedly in talks to join Canal+’s bid for MultiChoice. Motsepe’s involvement could impact the deal in numerous ways as Canal+ looks set to traverse the numerous business and regulatory hurdles standing in its way. According to companies’ […]
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