Author: Elan

Kenyan founders are increasingly looking beyond traditional venture capital avenues to secure funding in a tight macroeconomic climate. This outward push is clearly visible in the latest application numbers for the Latitude59 startup competition. The flagship Estonian tech event has recorded a massive spike in interest from the continent, with Kenya leading the charge.Out of 465 global applications from 53 countries, 70 African startups applied for the 2026 pitch competition. This is more than double the number of African applicants from last year. Kenya specifically stood out as the dominant force. Forty Kenyan startups submitted applications to pitch, up from…

East African countries plan regional satellite launch – African Business East African countries plan regional satellite launch – African Business

Make CryptoSlate preferred on Bank of Canada stablecoin regulations could arrive in mid or late 2027, pushing the detailed rulebook later into the same year that Canada’s government has already marked for its framework to take effect.That timing lands just as Visa Canada and Wealthsimple are piloting USDC settlement for certain card-network obligations in Canada. The result is a live institutional use case in one part of the payment stack while the framework for non-bank stablecoin issuers remains unfinished.A Reuters report said an early-2027 launch plan was ambitious and that regulations could instead be introduced by mid or late 2027.…

A ₦826 billion impairment charge, a 12x jump in electronic purse deposits, ₦155 billion in digital fees, and a 70% profit collapse that obscures what is actually growing. First HoldCo’s FY2025 audited accounts are a detailed map of where the money is moving in Nigerian financial services, and where the risks are building. First HoldCo Plc, the parent company of First Bank of Nigeria, published its FY2025 audited group financial statements in May 2026. The headline number, a group profit of ₦139.5 billion against ₦677 billion in 2024, will define how this report is covered. But for anyone whose interest…

Instagram has removed end-to-end encryption from its direct messages as of May 8, 2026. This change allows Meta to access and process the content of Instagram DMs, ending the optional encryption feature that has been available since 2019. The company announced the change earlier this year, and the May 8 date is now in effect.Encrypted messaging on Instagram was never enabled by default. Users had to opt in to encrypted chats individually. That option has now been removed for all users.What Instagram’s DM Encryption Removal Means for UsersEnd-to-end encryption guarantees that only the sender and recipient can access the message…

Nigeria’s supply chain and procurement sector is expanding rapidly in all sectors, driven by increased industrialisation, digital transformation, and the rise of multinational operations across the country. As organisations compete for efficiency, transparency, and cost savings, the demand for skilled procurement professionals has never been higher. This is where the Chartered Institute of Procurement & Supply (CIPS) becomes a powerful career accelerator especially Levels CIPS Level 4, 5, and 6. These three levels form the core professional pathway that leads to the prestigious MCIPS designation, recognised globally as the gold standard in procurement and supply chain management. For Nigerian professionals, completing CIPS Level 4–6 can significantly…

Brian Marshall, Head of Investment Banking at Standard Bank Corporate and Investment BankingStandard Bank Group, Africa’s largest bank by assets, has been recognised as a Regional Winner for Sustainable Finance and Best Investment Bank in Africa at the 2026 Global Finance Awards. The recognition reflects the Group’s progress and commitment to supporting Africa’s growth as a responsible financial partner, helping clients navigate the opportunities and trade-offs of energy security, infrastructure development, and a just energy transition. Awards include:Best Investment Bank AwardsBest Investment Bank for Power/Energy in AfricaBest Investment Bank in AngolaBest Investment Bank in MauritiusBest Investment Bank in MozambiqueBest Investment…

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Bitcoin profit-taking could accelerate as BTC prices climb to three-month highs and investors begin locking in gains, according to Julio Moreno, head of research at onchain analytics platform CryptoQuant.Holders realized 14,600 BTC in profits on Monday, or $1.1 billion, following Bitcoin’s April rally, Moreno said, adding that this is the “highest” single day of profit-taking since Dec. 10, when BTC was trading above $90,000.Bitcoin holders’ realized profits spike after the April rally. Source: CryptoQuantThe Short-Term Holder Spent Output Profit Ratio (STH-SOPR), an onchain metric that gauges profit-taking by wallets that have held BTC for less than 155 days, also rose…

African commerce operates on a system that global platforms still misunderstand. The issue is not a lack of entrepreneurs or demand but an infrastructure that reflects how people buy and sell every day. Right now, millions of businesses operate in fragments. Discovery happens on Instagram, conversations move to WhatsApp, payments are handled through manual transfers, and delivery is stitched together through calls and messages. It’s a system built on “DM for price” and late-night screenshot tracking, not because it is optimal, but because it is what exists. Even the rise of social commerce only digitised the fragmentation rather than solving…