Safaricom is set to launch commercial operations in Ethiopia within the year as part of the company’s regional expansion efforts to provide modern telecommunications services to over 112 million Ethiopians. In readiness for the commercial [c]
The recorded music market in Sub-Saharan Africa (SSA) grew by 9.6% in 2021 according to IFPI, the organisation that represents the recorded music industry worldwide. Latest figures released by IFPI’s Global Music Report break out [c]
Moove, the mobility fintech which provides revenue-based financing to mobility entrepreneurs across Africa, has raised $105 million in an oversubscribed Series A2 round consisting of equity and debt. The round is led by existing investors, [c]
The global smartphone market revenue crossed $448 billion in 2021, according to the latest research from Counterpoint’s Market Monitor Service. The revenues grew by 7% YoY and 20% QoQ even as component shortages and COVID-19 restrictions continued [c]
Kwik Delivery, the brand name of Nigeria-based Africa Delivery Technologies, has announced that its Gross Merchandise Value (GMV) and revenue for 2021 grew by over 400% year-on-year. The platform also reached 100,000 B2B users. Kwik [c]
The mobile gaming industry in Kenya is expected to more than double their income and grow exponentially as a higher number of advertisers shift to spending on advertising in games. Speaking during a masterclass for [c]
LG Electronics has announced third-quarter 2021 consolidated revenues of $16.23 billion (Ksh 1.752 trillion), an increase of 22 percent from the same quarter last year, and the highest quarterly revenue in the history of the [c]
Airtel Africa a revenue growth of $2.272 billion (or 25.2%) for the first half of 2022 as well as double digit growth across all its subsidiaries in the continent. During the second quarter of the [c]
Safaricom has announced an increase in Skiza revenue share for artists and content creators by 33%. Following the move, more than 20,000 artists and content-creators are set to benefit from increased earnings of 40% from [c]
Entertainment, media, and advertising companies in Kenya are set to reap from rising spending even as traditional components of the sector such as television decline, a new report by PwC shows. In the report titled [c]
Huawei has released its 2020 Annual Report which shows that even though growth slowed, the company’s overall business performance was largely in line with forecast. Huawei’s sales revenue in 2020 rounded off at approximately $136.7 [c]
Safaricom has announced plans to provide 100% 4G network coverage across the country by end of this year as part of its growth strategy focused on being the technology partner of choice. Safaricom, celebrating its [c]
Airtel Africa has released its half year financial results for the period ending September 30, 2020 which indicate that its customer base grew by 12.0% during this period, rising to 116.4 million. Overall revenue on [c]
The global smartwatch market revenues increased by 20% in the first half of 2020, with the leading brands being Apple, Garmin and Huawei. The top three brands contributed more than 69% of the total market [c]
Huawei announced its business results for the first half of 2020. The company generated CNY454 billion ($64.2 billion) in revenue during this period, a 13.1% increase year-on-year, with a net profit margin of 9.2%. Huawei’s [c]
Nigeria’s digital financial services company, Carbon, has released it’s 2019 financial statements audited by KPMG, detailing its product growth and $17.5 million in revenue. Carbon began operations in 2012 and within the space of six [c]
MultiChoice Group recorded solid financial results for the year ended March 31, 2020 (FY20). Highlights include 38% growth in core headline earnings to R2.5 billion ($145 million), with consolidated free cash flow increasing by 59% [c]
LG Electronics has announced first-quarter 2020 consolidated revenue of KRW 14.73 trillion ($12.45 billion) and operating profit of KRW 1.09 trillion ($921.47 million). Although revenue declined modestly compared with the same period last year, operating [c]
Bharti Airtel saw its overall revenues in Africa increase by 11.2% to $3,422 million, with fourth quarter revenue growth up by 15.1% according to its financial results for the year ended March 31, 2020. Revenue [c]
Omdia, a market research firm, has released analysis of its 2019 Data Center Interconnect (DCI) vendor market shares. Based on the latest Omdia data, Huawei calculates its market share of all-optical DCI equipment (Huawei DC [c]
Huawei released its 2019 Annual Report, detailing a solid business performance. The Chinese firm’s global sales revenue in 2019 rounded off at CNY858.8 billion ($120.2 billion), up 19.1 per cent year-on-year; while net profit reached [c]
Airtel recently announced its financial results for the 9-month period ending on December 31, 2019, reporting that its overall customer base in Africa grew by 9.4% to reach 107.1 million. The India-based telco group stated [c]
LG Electronics has announced its sales figures for the year indicating revenues of $53.0 billion in 2019, reflecting strong demand for premium home appliances such as LG SIGNATURE and high-growth, category-creating products. The firm’s full-year [c]
Airtel Africa has reported a revenue increase of 8.4 per cent, with the figure standing at $1.64 billion in the first half of the year and growing by 9.8 per cent in the second quarter [c]
Global online music streaming revenues grew 18% year-on-year (YoY) to cross the US$11 billion mark in the first half of 2019, according to the latest findings from Counterpoint Research. Monthly Active Users (MAUs) grew by [c]
Brilliance is what the online education business model has brought our way. If you’re tempted to think e-learning is a sham, think again. Especially with the ever-climbing revenue accrued on a monthly (and yearly) basis. [c]
Safaricom shareholders have approved a special dividend of Kshs 0.62 per share and a final ordinary dividend of Kshs 1.25 per share that totals to a total divided to be paid out to Kshs 1.87 [c]
LG Electronics has announced second quarter and first half revenues with consolidated sales of KRW 15.63 trillion (US $13.40 billion) and operating profit of KRW 652.3 billion (US $559.4 million) for the period covering April-June [c]
Samsung Electronics reported financial results for the second quarter ended June 30, 2019. The South Korea-based company posted KRW 56.13 trillion in consolidated quarterly revenue and KRW 6.6 trillion (US $5.61 billion) in quarterly operating [c]
Huawei has this week announced its business results for the first half of 2019, reporting CNY401.3 billion (US $58.37 billion) in revenue, a 23.2% increase over the same period last year. The company’s net profit [c]
By Derrick Sebbaale In 2016, it was estimated that telecom companies in Uganda on annual basis were losing about US $60 million due to illegal redirection of international calls traffic. The amount in part led [c]
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