It’s the mid-week edition of the Big 5 Daily gist o’clock.
WorldRemit has announced plans to acquire Sendwave, a US-based Africa-focused remittance app. The acquisition will be completed in cash and stakes by the fourth quarter of 2020.
Also, on the Big 5, METTA and Nairobi Garage have partnered to create “the largest innovation hub” in Kenya. The partnership allows for collaboration, business development services, and networking opportunities.
See Also: The Big 5 Daily: 22nd September 2020
As of January 1st, 2021, Nedbank’s clients will have to stop using cheques for payments. Nedbank is using this decision to encourage the adoption of cheaper, safer, and more convenient digital payment alternatives.
The mobile network operators in Zimbabwe collectively lost over 500% in Q2 2020. The recorded losses were due to an increase in operational expenditures and over-reliance on foreign currency to finance operations.
And, last, for the Big 5, Cairo-based Elves has raised $2 million to boost its AI-powered concierge startup. The fund is a part of the investment contributed by Sawari Ventures, one of Egypt’s leading VCs.
Thank you for stopping by as usual. Have a very productive day.