Author: Samuel Ige
Flutterwave gets major boost to its operations in Uganda as it finally secures a Payment Systems Operator (PSO) license from the Bank of Uganda. This will enable businesses in the country to access its payment solutions. This license will enable businesses in Uganda to make single and bulk payouts to suppliers, employees, and partners. This also means Ugandans in the diaspora can send money to their families. Flutterwave announced the acquisition on its official website on 28th August, 2024 through its Product Marketing Manager, Rotimi Okungbaye. “We are pleased to announce that we have secured the Payment Systems Operator (PSO)…
Currency devaluation results in $1.9 billion in losses in the 2023 fiscal year
Payments and liquidity platform aims to solve trade deficits resulting from increasing demand for the dollar
Inability to service debts, cash flow problems, and electricity stability cripple Hohm Energy
Bamburi’s biggest shareholder has approved a $182.8 million buyout offer from the Amsons Group. Holcim, the shareholder company in question, is a Swiss construction materials manufacturing company. It has made the decision to sell its 58.6% stake in Bamburi, Kenya’s biggest cement maker to Amsons, a Tanzanian energy group. Bamburi boasts of being the largest cement maker in Kenya, holding about 30% of the market share. Amsons was reported to offer $0.52 (KES65) per share, which represented a 44.4% premium on Bamburi’s closing price on 10th July, 2024. That was the same date when the deal was made public. Following…
Agricultural data analytics startup, Gro Intelligence has reportedly decided to shut down its operations in the United States of America. This comes on the heels of its difficulty of securing sufficient capital to stay in business. The company is also under investigation by the United States Securities and Exchange Commission (SEC) reportedly over fraud.AgFunderNews is of the opinion that the company’s struggles became public in February 2024 after reports that it now found it difficult to meet payroll and pension payments. This reality existed in spite of raising $117 million since it was established. In a Series B fundraising, the…