BUSINESS NEWS REPORT – MARCH 2020
Every month Africa HR Solutions curates the latest high impact news across Africa. Check out the top business news for March 2020.
Africa’s largest innovation incubator
Africa’s largest innovation incubator, CcHub, will offer funding and engineering support to tech projects aimed at curbing COVID-19 and its social and economic impact.
CcHub will provide $5,000 to $100,000 funding blocks to companies with COVID-19 related projects covering last-mile communication, support for the infected and the most vulnerable, production of essential medical supplies and support for disrupted food supply-chains.
Kenya’s largest teleco
Kenya’s largest teleco, Safaricom, will implement a fee-waiver on East Africa’s leading mobile-money product, M-Pesa, to reduce the physical exchange of currency in response to the COVID-19 outbreak.
The company announced that all person-to-person (P2P) transactions under 1,000 Kenyan Schillings (≈ $10) would be free starting Tuesday for the next 90 days.
MTN launched its instant messaging platform Ayoba
MTN Group announced what they believe is an encouraging set of results for the year ended 31 December 2019 – most notably the addition of 18 million customers to reach a total of 251 million and that group president and CEO, Rob Shuter, would be stepping down from his role at the end of his contract in March 2021.
MTN launched its instant messaging platform Ayoba, which is now live in 12 markets with two million monthly active users.
