Business

The president of Kenya approved a new law on Tuesday, which requires digital lenders in Kenya to get licensed.

Following a push back from the Chinese government on Kenyan’s application for a debt repayment holiday and despite repayment to other major bilateral creditors remaining low, $256.9 million have been paid to the Chinese government to ease a standoff over debt repayments that delayed disbursements to projects funded by Chinese loans.

The Ugandan and Tanzanian shillings are among the six African currencies holding steady against the dollar. The Zambian Kwacha takes the lead, appreciating at 19.64%, while Ugandan and Tanzanian shillings are at 2.24% and 0.70% respectively.

Flutterwave, a leading digital payment company, has unveiled its e-commerce platform – Flutterwave Market, which is an extension of its Flutterwave Store service, that will bring together a collection of merchant stores in one place.

The Ghanaian government is set to introduce an electronic transaction levy of 1.75 percent on all electronic transactions to widen the tax net and rope in the informal sector.

CredPal has announced the launch of a merchant suite called Credpal Pay aimed at helping businesses increase sales through its buy now, pay later channel.

South Africa’s Vodacom Group has announced an ongoing transaction towards acquiring a controlling stake of 55% stake in Vodafone Egypt. The transaction which is valued at R41 billion or (US$2.738 billion) is subject to regulatory and shareholder approvals.

One of Nigeria’s leading health IT firms Helium Health has acquired Meddy, a doctor booking platform headquartered in Qatar and based in the United Arab Emirates. This transaction aligns with Helium’s strategy to expand in Africa first and then move into other emerging markets.

MultiChoice is considering offering smaller, cheaper channel bundles, (“Skinny Bundling”). However, it is merely just a consideration, and no decision has been made yet, said Calvo Mawela, the CEO of the MultiChoice Group.

Flutterwave, a digital payment platform, recently announced its acquisition of Disha, a platform that enables digital creators to curate, sell digital content, portfolios and receive payments from their audience worldwide.