Kenya’s competition authority has fined Baltic lender Eleving‘s Kenyan subsidiary for misleading its customers, casting a spotlight on the continuing unethical operations of a section of digital lenders in the country despite a new law. The Competition Authority of Kenya (CAK) imposed a fine of $ 84,120 on Eleving subsidiary Mogo Kenya for violating competition […]
Kenya closes its probe of Worldcoin, opening the door to a relaunch of its orbs after a year-long suspension
Worldcoin — the crypto startup co-founded by OpenAI’s Sam Altman — has been given the green light to resume iris-scanning and other operations in Kenya after a year-long government probe over privacy concerns was dropped. Kenya was one of the Worldcoin’s launch countries for its iris-scanning scheme — which the startup was building out as […]
Roam raises $24M to scale electric vehicle production in Kenya
Roam, an EV startup based in Kenya, has raised $ 24 million in a Series A round, including up to $ 10 million debt commitment from the U.S International Development Finance Corporation (DFC), to scale the production of electric motorcycles and buses. Equator, an Africa-focused climate tech VC fund, led the round, which also had […]
Kenya Based Fintech Kwara Raises $4 Million in Seed Round
A Kenya based fintech, Kwara has raised $ 4 million in a seed round that was led by Breega VC firm. The funds will be used to create an app that allows members of credit unions to access financial services. The Rising Demand for Financial Services by Credit Union Members Kwara, a Kenyan fintech that […]
Global Charity Organization Launches Crypto-Based Vouchers for Vulnerable Groups in Kenya, Ecuador
The global charity organization, CARE, has created crypto-based vouchers that will be distributed to women and select groups in Africa and Latin America. According to CARE, these vouchers will be redeemable for goods, services or cash and linked to the needs of recipients. However, in its statement announcing the launch of the pilot phase, the […]