📺 Multichoice Nigeria loses 243 customers in 5 months

Today’s Menu ☕️

• Multichoice’s Fate in Nigeria in Question as 243,000 Subscribers Drop Services Amid Inflation

• Standard Chartered and BII forge $350 million partnership to enhance trade in Africa and South Asia

• Ghana’s Wahu Mobility and Letshego join forces to make EV ownership more accessible in Africa

• Starlink gets approval to operate in Chad

• Energenic Holdings secures $5 million from Sanari Capital to fuel its African expansion

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📺 MEDIA

Multichoice’s Fate in Nigeria in Question as 243,000 Subscribers Drop Services Amid Inflation

As inflation drives food, fuel, and electricity prices ever higher, has Multichoice Group—facing its own challenges—reached the same breaking point that pushed Pick n Pay, Shoprite and Mr Price out of Nigeria?

The recent announcement from Multichoice Group revealing the loss of 243,000 Nigerian subscribers across its DStv and GOtv services is a stark reminder of the challenges facing businesses operating in Nigeria. This marks a dramatic six-month shift from April to September 2023, in which Multichoice blamed record-high inflation, now exceeding 30%, as the primary reason for the downturn.

This isn’t the first time Multichoice Nigeria has found itself at odds with the economic conditions in the country. In a span of just twelve months, the company increased prices on its DStv and GOtv packages three times—first in April 2023, again in November 2023, and a third time in May 2024..……continue reading

📺 MEDIA

Standard Chartered and BII forge $350 million partnership to enhance trade in Africa and South Asia

Standard Chartered Bank and British International Investment (BII), the UK’s development finance institution, have entered into a $350 million risk participation agreement designed to bolster the trade finance needs of small and medium-sized enterprises (SMEs) and larger corporations in Africa and South Asia.

This strategic agreement is poised to stimulate economic growth in these regions by enhancing access to trade finance and liquidity. The collaboration builds on a decade-long partnership between the two organizations, which began in 2013.

Since the inception of their partnership, Standard Chartered and BII have facilitated over $10 billion in trade volumes across more than 10 countries, including Kenya, Tanzania, Nigeria, Bangladesh, Pakistan, and Nepal. In the past year alone, the facility has supported approximately $450 million in trade...……continue reading

📱SOCIAL COMMERCE

ChitChat expands its reach beyond Africa

ChitChat has expanded its social commerce services beyond Africa, now targeting advanced economies such as China, the United States, the United Kingdom, Japan, India, Canada, and Malaysia. This strategic expansion aims to broaden the app’s reach and enhance its service offerings to a global audience.

In addition to its geographical expansion, ChitChat will now feature multi-currency exchanges, a ChitChat wallet, and a USD virtual debit card. These new features will enable users to send money to bank accounts, mobile wallets, and cash agents in the local currencies of the selected countries, providing a seamless and versatile financial experience.

ChitChat already has a strong presence in six African countries, including Rwanda, South Africa, Ghana, Tanzania, Zimbabwe, and Zambia. This latest push into the remittance market highlights the app’s commitment to providing a smooth and accessible platform for Africans at home and abroad to send money easily and securely, simplifying cross-border transactions on the ChitChat platform.……continue reading

🚙 ELECTRIC VEHICLE

Ghana’s Wahu Mobility and Letshego join forces to make EV ownership more accessible in Africa

Ghanaian electric vehicle (EV) startup Wahu Mobility has partnered with financial service provider Letshego to make EV ownership more affordable and accessible in Africa. This collaboration aims to empower communities by offering eco-friendly transportation options, marking a significant step towards sustainable mobility on the continent.

The initiative introduces a financing program specifically designed for “Wahu Heroes,” individuals dedicated to adopting sustainable transportation solutions. Leveraging Letshego’s financial expertise and Wahu Mobility’s EV knowledge, the program offers affordable financing options, making it easier for users to transition to environmentally friendly vehicles.

The companies plan to implement a phased rollout of financing products, initially targeting urban centers with plans to eventually expand to underserved regions. This strategic approach ensures that more people across Africa can benefit from sustainable transportation solutions..……continue reading

⚕️HEALTHCARE

MDaaS expands into Francophone Africa with launch of first diagnostic clinic in Cameroon

MDaaS, a healthcare startup operating 16 diagnostic clinics in Nigeria, has launched its first clinic in Cameroon, marking its entry into Francophone Africa. This strategic move aims to mitigate the startup’s exposure to Naira volatility and enhance revenue streams.

Founded in 2017, MDaaS offers X-rays, ultrasounds, and fully automated lab tests across its network of clinics in Nigeria. The startup also collaborates with 20 affiliate clinics through its proprietary tech platform, extending its reach to 26 states...……continue reading

OTHER STORIES

• Starlink gets approval to operate in Chad….read more

• Energenic Holdings secures $5 million from Sanari Capital to fuel its African expansion…...read more

• Safaricom and Nation Media Group Clash Over Critical News Coverage….read more

• vivo Launches the Sleek and Powerful V40 Lite priced at 36,999 Ksh in Kenya…...read more

• Watu Simu Reaches Milestone with Over One Million Mobile Devices Sold in Kenya…. read more

• Egyptian e-procurement startup Teradix secures $140K grant for expansion into Saudi Arabia……read more

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