Tala lays off 28 staff as loan defaults and customer queries fall
Tala laid off 28 employees from its customer operations team due to reduced workload. The layoffs were attributed to fewer loan defaults and a drop in customer support queries.
Africa’s digital payments projected to reach $1.5 trillion by 2030
Mastercard's digital payments economy in Africa is projected to reach $1.5 trillion by 2030. The MADE Alliance aims to provide digital access to 100 million businesses and individuals over the next decade.
Africa Boasts Nine Unicorns as Confidence in Scalability Grows
African startups secured $2.21 billion across 488 deals in 2024, a 22.73% decline from the previous year. The latter half of 2024 experienced a 24.96% surge in funding compared to the same period in 2023.
How agency banking is transforming financial access in developing countries
Only 49% of adults in sub-Saharan Africa own a formal bank account, with significant variations among countries. Agency banking has gained traction in Nigeria, providing convenience through proximity and responsiveness.
Guide to Wage Payment Laws in Africa: What Startups Need to Know
Minimum wages vary by country, with South Africa enforcing a minimum wage of ZAR 25.42 per hour. Kenya requires bi-weekly payments to be made within 24 hours of the due date.
