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Africa Business News

By: Africa Business Radio
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  • Summary

  • Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.
    Copyright Africa Business Radio
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Episodes
  • Egyptian fintech giant MNT-Halan Raises $157.5 Million to Expand Operations

    Egyptian fintech giant MNT-Halan Raises $157.5 Million to Expand Operations
    Jul 24 2024
    Egyptian fintech giant MNT-Halan, the country’s only private unicorn, has raised another $157.5 million in a new funding round. MNT-Halan, The microfinance lending and payment company runs a hybrid business model. It targets customers lacking access to credit and financial services, and serves as a distribution medium for merchants selling fast-moving consumer goods (FMCGs). The company acquired Advans Group in Pakistan, instantly topping its user base by 62,000, and obtaining a microfinance bank licence to continue operating in Pakistan. MNT-Halan’s expansion philosophy is simple: To expand into populated, underserved areas that are heavily cash-reliant. With this new funding, MNT-Halan is setting its sights beyond Egypt. Nakhla highlighted plans to expand regionally through strategic acquisitions.
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    2 mins
  • Biden Drops Out of Presidential Race Amid Pressure

    Biden Drops Out of Presidential Race Amid Pressure
    Jul 22 2024
    United States President Joe Biden has heeded calls to withdraw his re-election bid, thrusting this year’s already high-wire race for the White House into an uncertain territory. The announcement by the sitting president in US history came amid mounting pressure from his fellow Democrats, with more than 30 Congress members publicly pushing for his exit. Biden, says he will remain in his role as president and commander-in-chief until his term ends in January 2025 and will address the nation this week. Biden says he has intended to seek reelection but I believe it is in the best interest of the party and the country to stand down and to focus solely on fulfilling his duties as President for the remainder of his term.
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    1 min
  • Zambia President Fires Entire Anti-corruption Board Fired for Corruption

    Zambia President Fires Entire Anti-corruption Board Fired for Corruption
    Jul 22 2024
    Zambia's President Hakinde Hichilema has fired the entire board of the country's corruption-busting body after they were accused of corruption, which they deny. The head of the Anti-Corruption Commission (ACC), Thom Shamakamba, resigned from his post and the country's solicitor-general - Marshal Muchende - were accused of taking kickbacks which they strongly deny the allegations. The whistleblower, O’Brien Kaaba - who was once a board member of the ACC says the same "immunity deals" under the former governing party, the Patriotic Front, were now being "used under the current government in a manner that shows no commitment to fighting corruption. He says the ACC must be reformed, alleging that the rot goes beyond the four fired board members and affects the whole institution.
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    1 min
Politics & Government
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