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Jeff Bezos Says AI Could Lead to a Shortage of Workers, Not Jobs
Artificial intelligence is often discussed as a technology that could replace workers. Jeff Bezos believes it could increase demand for them instead. Speaking at the VivaTech conference in Paris, the Amazon founder said AI is more likely to boost productivity and create new work. He does not believe it will make large numbers of people
MAX Takes Its Electric Motorcycle Model to Ibadan
MAX is expanding its electric motorcycle operations to Ibadan, adding another city to its growing network across Nigeria. The company says the rollout will be the first large scale introduction of its electric mobility model in the city. For Ibadan's commercial riders, the move could offer an alternative to petrol-powered motorcycles at a time when
Spiro's Funding Raise Puts Battery Swapping in Focus
Spiro's latest funding round made headlines for its size. The electric motorcycle company raised $215 million, making it one of the largest investments ever secured by an African mobility startup. But the bigger story is what the company plans to do with the money and whether its business model can eventually stand on its own.
South African Startup – Still Good – Gives Surplus Food a Second Chance
Not everything on a supermarket shelf gets sold before its expiry date. That's the gap Still Good is trying to fill. The South African startup works with retailers including Pick n Pay, Spar and Food Lovers Market to connect shoppers with surplus groceries at reduced prices. Instead of marking products down in-store and hoping someone
EV growth is challenging RAF funding
The Road Accident Fund (RAF) has long been financed through a levy included in the price of every litre of petrol and diesel sold in South Africa. Levy has long provided a steady stream of money for the fund, which compensates people injured in road crashes and supports families who lose relatives in accidents.The system
Daya Targets Business Payments with Stablecoins
For many African businesses, getting paid is often harder than making a sale. A company can close a deal with a customer overseas, issue an invoice, and wait days for the money to arrive. Paying suppliers abroad can be just as frustrating, with transfers moving through multiple banks before reaching their destination. Those delays are
Inside Interswitch's Plan for Nigeria's Fuel Retail Industry
Fuel stations process thousands of transactions every day, yet many still operate with systems that belong to an earlier era. Payments may be digital, but inventory records, reconciliations and operational reporting are often handled separately. For station owners, that can mean spending hours matching transactions to stock levels and sales records. Interswitch believes there is
MTN Seeks Licences to Become a Direct Lender
Africa's biggest telecom operator is preparing to take a more direct role in lending as it pursues fintech licences that would allow it to issue loans from its own books. MTN already plays a part in the credit market through partnerships with banks and other lenders. More than a million customers access loans through its
TIA Secures R1.2 Billion Settlement From Kapa Biosystems Dispute
The Technology Innovation Agency (TIA) has received R1.2 billion from a settlement linked to the sale of biotechnology company Kapa Biosystems. The payment ends a dispute that lasted more than a decade. The settlement relates to TIA's sale of its 49% stake in Kapa in 2015 for US$4.9 million. Eight months later, Kapa's shareholders sold
CreditChek Lands $600,000 for East Africa Push
Lending in Africa has become easier. Deciding who should receive a loan remains much harder. Nigerian startup CreditChek wants to address that challenge. The company is preparing to expand into East Africa after raising $600,000 in a funding round led by Janngo Capital. CreditChek provides credit intelligence and income verification tools to lenders. It will
West Africa Lines Up $1.54 Billion for Rice Production Drive
West African governments and investors have pledged $1.54 billion to boost rice production across the region. Imported rice still accounts for a large share of food sales in many West African countries. The commitments emerged from a rice investment roundtable in Accra, Ghana. The event brought together officials from ECOWAS member states, development finance institutions
AfricInvest Begins Exit From Centaures
AfricInvest is beginning to cash out of Centaures, the Ivorian logistics and transport group it backed in 2018. The private equity investor said it has reached an agreement with the Delsuc family, which founded the business, and expects to complete its exit from SIPO Holding, Centaures' parent company, by the end of 2026. The investment
Nigeria's new telecom operators face uphill battle
Every few days, Ewoma Okweni buys another internet bundle. The Lagos-based audit officer spends most of her working day online. There are spreadsheets stored in the cloud, PowerPoint presentations, video meetings and a growing collection of Chrome tabs she never quite gets around to closing. Twenty gigabytes barely lasts half a week. Data has become
Smartphone price hikes loom for Nigerian consumers
The days of buying a budget smartphone without worrying about the price may be ending. Research firm Omdia says smartphone prices in Nigeria could rise by up to 30% before the end of the year. Manufacturers are facing higher costs for memory chips and other components. For a market built on affordability, that presents a
Uber expands electric motorcycle fleet in Kenya
Uber will double its electric motorcycle fleet in Kenya by the end of 2026. The move follows the growth of its e-boda service in Nairobi. The ride-hailing company launched the service in 2023 as an alternative to petrol-powered motorcycles. These bikes dominate Kenya's boda boda industry. Since then, electric motorcycles have attracted riders looking to
AI demand drives sharp rise in chip prices
The artificial intelligence boom is creating winners and losers across the technology sector. Memory chip manufacturers are among the biggest beneficiaries. According to Morgan Stanley, memory chip prices have increased sixfold over the past year. Demand from AI companies continues to outstrip supply. The surge is creating challenges for manufacturers of smartphones, PCs and gaming
Toyota turns up the heat with GRMN Corolla
The standard GR Corolla was never short on performance. Toyota has now gone a step further. The company has unveiled the GRMN Corolla, a version aimed more squarely at track day enthusiasts than everyday drivers. The recipe is familiar: a little more power, less weight and fewer concessions to practicality. More power, same engine The
Prime Finally Lands in South Africa
Amazon has launched Prime in South Africa. The service costs R59 a month or R399 a year. Subscribers get free delivery, Prime Video and gaming-related benefits. The launch itself is not surprising. The timing is. Amazon entered South Africa's retail market in 2024 with the launch of amazon.co.za. Prime was notably absent. Instead, the company
Pick n Pay customers caught in data breach
Hackers accessed customer information linked to an older version of Pick n Pay's on-demand delivery service during a cyberattack. The incident affected customers who signed up for the service on or before 2022. At the time, the platform operated under the Bottles and later Asap! brands. Pick n Pay started notifying affected customers on 30
Africa Provides the Ingredients, Others Build the Cars
Africa is central to the electric vehicle story. However, it mainly supplies the minerals that power batteries rather than manufacturing the products themselves. The Democratic Republic of Congo produces much of the world's cobalt. Zambia remains a major source of copper. Zimbabwe has also become an important lithium producer. Together, these minerals place Africa at