Bolt Nigeria has seen a 42% drop in offline trips since tightening safety measures in November 2024, part of a global $107 million investment aimed at curbing disputes, impersonation, and harassment linked to off-platform cash transactions.The ride-hailing company now uses algorithmic penalties to detect and punish drivers who divert passengers to cash-based rides. Offenders face account suspension or reduced earnings. Bolt says the new measures are designed to protect riders, improve trip traceability, and preserve trust.“If you’re not transacting within the app, you’re exposing yourself to danger,” said Osi Oguah, Bolt Nigeria’s General Manager. He urged riders to reject offline trip requests, which are harder to trace in cases of disputes or criminal incidents.New and existing safety tools now include:<ul><li>Trusted Contacts (usage up 290%)</li><li>Pickup PINs (5,000+ users)</li><li>In-app emergency alerts, ride monitoring, and trip audio recording</li></ul><a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

TechCabal

Bolt Cuts Offline Trips by 42% in Nigeria After Safety Crackdown

DStv subscribers in Kenya will face higher monthly fees from August 1, as MultiChoice rolls out new price increases across its TV packages, ranging between 4% and 7%. The hike continues a multi-year trend by the pay-TV provider to adjust pricing amid rising operating costs and shifting viewer habits.The Premium package will increase from KES 11,000 to KES 11,700 ($91). Other tiers also see increases:<ul><li>Compact Plus: KES 7,300 ($57)</li><li>Compact: KES 4,200 ($33)</li><li>Family: KES 2,250 ($17)</li><li>Access: KES 1,450 ($11)</li><li>Lite: KES 750 ($6)</li><li>XtraView add-on: KES 1,700 ($13)</li></ul>At the same time, Showmax, MultiChoice’s streaming service, is reducing rates for mobile users. The GE Mobile plan drops to KES 200 ($1.55), while the PL Mobile plan falls to KES 450 ($3.49). Bundled mobile and standard plans also see price cuts as MultiChoice aims to retain price-sensitive viewers.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

DStv Hikes Prices in Kenya, Cuts Mobile Rates as User Losses Mount

Castel Group has completed the acquisition of an 80.4% stake in Guinness Ghana Breweries PLC from Diageo, gaining operational control of one of Ghana’s leading brewers. The transaction, approved earlier in the year, marks Castel’s entry into its 22nd African market.Diageo retains ownership of the Guinness brand and related products, which will continue to be brewed locally under long-term licensing agreements. Guinness Ghana will also maintain exclusive distribution rights for Diageo’s international spirits.The transition comes as Guinness Ghana returns to profitability, posting a net profit of GH¢83.9 million in H1 2024/25. Revenues rose 35.7% to GH¢1.6 billion, supported by stronger volumes and pricing. Finance costs dropped 37.7% to GH¢17.5 million due to lower short-term debt.The company will remain listed on the Ghana Stock Exchange, and all employees will retain current contracts. Castel says it plans to expand operations while maintaining product quality and stakeholder relationships.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

African Markets

Castel Completes Acquisition of Majority Stake in Guinness Ghana

Africa has launched its first pan-African payment card system, PAPSSCARD, aiming to cut dependence on foreign card networks and retain more financial value on the continent. The announcement was made at the 32nd Afreximbank Annual Meetings in Abuja, Nigeria.The PAPSSCARD is a joint venture by Afreximbank, the Pan-African Payment and Settlement System (PAPSS), and Mercury Payment Services (MPS). It is designed to process retail card transactions entirely within Africa, lowering fees and improving data sovereignty.PAPSSCARD will be usable across national borders, reducing the cost of intra-African trade and payment transactions routed through global networks like Visa or Mastercard. Partners include Bank of Kigali, I&amp;M Bank Rwanda, Nigeria’s Unified Payments, and Rwanda’s national switch Rswitch.Leaders say the card marks a shift toward economic self-reliance. “PAPSSCARD empowers us to move money swiftly, securely, and affordably across borders,” said Afreximbank President Benedict Oramah. Commemorative cards were also launched during the unveiling.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Africa Launches First Card Scheme for Cross-Border Payments

The Egyptian Natural Gas Holding Company (EGAS) has awarded six new exploration blocks—four offshore in the Mediterranean and two onshore in the Nile Delta and North Sinai—to a group of international energy companies. The total expected investment amounts to $245 million, with commitments to drill at least 13 exploratory wells. The awards were made under Egypt’s 2024 international bid round via the Egypt Upstream Gateway (EUG), part of the country’s strategy to boost exploration and hydrocarbon output.Chevron Egypt and Shell secured North Samian and Northwest Atoll offshore blocks, with plans to drill two wells each. Eni subsidiary IEOC Production will drill three wells in North Ras El Tin, while Cheiron Egypt will also drill three wells in East Alexandria. Onshore, IPR will drill two wells in North Tanta, and Perenco will explore El Fayrouz with a 3D seismic survey and one well.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Egypt Awards Six Oil & Gas Blocks Worth $245M to Global Firms

Starlink has reopened new user sign-ups in Nairobi and across Kenya after halting activations for over seven months due to network congestion. The freeze, which began in late 2024, affected major areas like Kiambu, Machakos, and Kajiado. Multiple customers confirmed successful activations in June, with Starlink’s coverage map now showing full availability.The pause followed a surge in demand that overwhelmed local capacity, leading to slower speeds and service interruptions. A new ground station in Nairobi, launched in January 2025, has helped ease congestion, although demand continues to pressure the network in urban zones.Despite regulatory friction—Kenya plans to hike satellite licence fees by 837% and add a 0.4% turnover levy—Starlink’s service remains vital, particularly in remote and peri-urban areas lacking fibre coverage. The KES 30,000 ($232) hardware cost and KES 6,500 ($50) monthly fee have not stopped adoption among homes, schools, and businesses.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Starlink Resumes New Activations in Kenya After 7-Month Freeze

Gabon has suspended all new tax exemptions for three months, following revelations that such incentives led to a cumulative revenue shortfall of over 1,000 billion CFA francs ($1.76 billion) between 2022 and 2025. The announcement was made by President Brice Clotaire Oligui Nguema during the Council of Ministers meeting on June 20, 2025.According to the presidency, domestic tax exemptions accounted for 682.67 billion CFA francs ($1.2 billion) in lost revenue, while export tax incentives caused a 376.55 billion CFA francs ($660 million) shortfall.The temporary freeze will be accompanied by a full audit to assess the effectiveness and relevance of existing exemptions. The government also plans to revise eligibility criteria to better align with national development priorities and ensure transparency and measurable impact.Until now, Gabon’s General Tax Code allowed wide-ranging exemptions across sectors including tourism, housing, industry, and agriculture. These included multi-year corporate tax holidays, reduced VAT, and free land deed registration. But weak oversight and insufficient economic returns have prompted a rethink of policy.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Sika Finance

Gabon Suspends New Tax Exemptions Amid Revenue Shortfall, Reform Push

The Democratic Republic of Congo (DRC) is once again facing arbitration proceedings from Australian mining company AVZ Minerals, after talks broke down over the Manono lithium project. AVZ had temporarily suspended its legal claim in May 2025 at the request of the U.S. government, but resumed the case on June 18 before the International Centre for Settlement of Investment Disputes (ICSID).The dispute centers on the revocation of AVZ’s permit in 2023 by Congo’s Ministry of Mines, which cited project delays. The rights were reassigned to a subsidiary of China’s Zijin Mining, triggering legal action by AVZ. The revived case could complicate a separate deal between AVZ and U.S.-backed KoBold Metals.KoBold, supported by Breakthrough Energy Ventures, announced a framework agreement in May to acquire AVZ’s stake in the southern section of Manono. The deal, potentially worth over $1 billion, targets one of the world’s largest hard-rock lithium deposits, estimated at 842 million tonnes at 1.61% grade. KoBold plans to export lithium to Western markets using AI-powered mineral exploration. But AVZ’s return to arbitration may now stall implementation of the agreement.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

DRC Faces Fresh Legal Battle With AVZ Over Lithium Site

Fitch Ratings has upgraded Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘Restricted Default’ to ‘B-’ with a Stable Outlook. The upgrade follows the successful restructuring of $13.1 billion in Eurobond debt and progress on remaining external debt talks. Fitch expects the full restructuring process to conclude by end-2025.The credit rating agency cited improving macroeconomic conditions, including a drop in inflation from 23% in 2024 to 18.4% in May 2025—its lowest level in over three years. Inflation is forecast to average 15% this year and fall to 10% in 2026. The Ghanaian cedi has also strengthened, reversing years of depreciation.Fitch noted increased investor confidence, tighter fiscal discipline, and exchange rate stability. The Finance Ministry projects a primary fiscal surplus of 0.5% of GDP in 2025 and a decline in the debt-to-GDP ratio to 60%, down from 93% in 2022. Gross reserves reached $6.8 billion, and interest payments now consume 25% of revenue, down from 48% in 2021.Officials say the upgrade signals a return to global financial credibility. The government expects the move to support access to capital markets and attract foreign investment.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Fitch Lifts Ghana’s Credit Rating on Eurobond Deal, Cooling Inflation

The Nigerien government has announced the full nationalization of the Niger Electricity Company (NIGELEC), ending its status as a mixed-ownership firm. The decision, confirmed at the June 19 Council of Ministers meeting, transfers all capital and assets to the state and dissolves NIGELEC’s Board of Directors. Minority shareholders will be compensated.NIGELEC, previously over 99% state-owned with minor stakes held by local banks, cities, and staff, had a capital base of over 76 billion FCFA. Despite this, the company struggled with structural deficits and weak operational performance. Overspending and lax internal controls contributed to persistent financial fragility.The government aims to regain strategic control of the electricity sector, which is considered vital to national development. Officials say the nationalization will allow for more coherent energy policy direction and effective oversight.NIGELEC had previously undergone several reforms and privatization efforts without lasting results. This new phase is intended to restructure governance, eliminate inefficiencies, and establish a more sustainable foundation for electricity production and distribution in Niger.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Discover Financial Insights: Daba's African Business & Economy Chronicles

Bolt Cuts Offline Trips by 42% in Nigeria After Safety Crackdown

DStv Hikes Prices in Kenya, Cuts Mobile Rates as User Losses Mount

Castel Completes Acquisition of Majority Stake in Guinness Ghana

Africa Launches First Card Scheme for Cross-Border Payments

Egypt Awards Six Oil & Gas Blocks Worth $245M to Global Firms

Starlink Resumes New Activations in Kenya After 7-Month Freeze

Gabon Suspends New Tax Exemptions Amid Revenue Shortfall, Reform Push

DRC Faces Fresh Legal Battle With AVZ Over Lithium Site

Fitch Lifts Ghana’s Credit Rating on Eurobond Deal, Cooling Inflation

Niger Republic Moves to Nationalize Power Utility NIGELEC

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