As we gear up for the weekend, here is today’s edition of the Big 5 Daily.
Fawry, one of Egypt’s leading e-payment companies has plans to list on the Egyptian Exchange. They plan to list 45% of their shares in an IPO to raise between EGP 2.28 billion. If this pulls through, Fawry will record the largest offering in Egypt since Emaar Misr’s listing in 2015.
Instagram is set to test-run a new feature called Restrict. This will help users guide against cyberbullying. Restrict would give users the option to approve comments they choose to be visible to their online audience. However, the restricted user would not be able to tell when you are online or know if you read their direct messages.
Mastercard has partnered with CIAT and USADF to take the Mastercard Farmers Network (MFN) to Uganda. They aim to connect smallholder farmers with potential buyers, offer a digitalized payment platform and provide access to loans from financial institutions. MFN is currently available in Tanzania and India with over 250 000 farmers enrolled.
OPay, recently launched by Opera has secured $50 million to serve more users in Nigeria and expand business operations across the continent. The payment platform has signed up more than 40 000 agents and processed several transactions in less than a year of operation.
And finally, Bolt has raised $67 million to fund international expansion plans. The ride-hailing company formerly known as Taxify is also planning to extend their services to London, with further expansion in the remaining parts of 2019.
That brings us to the end of today’s edition of the big 5 daily. Check out our social media page @techgistafrica to join the conversations and share your opinion on the gists of the day.
Have a lovely day.
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