👨🏿🚀 Daily - Safaricom gets $257 million
Summary
ICYMI: Last Tuesday, the research accused Tingo and its CEO Dozy Mmuobosi of several fraudulent activities including lying about creating Nigerias first payments app, falsification of a PhD degree from a Malaysian university, and photoshopping its logo for TingoPay on other POS devices. Zoom out: While Safaricom has spent a lot on its expansion into Ethiopia, it has seen significant interest in its business including a Ksh69.5 billion ($500 million) loan which has not been finalised. Subsequently, the cost of fuel skyrocketed to over 600 ($1.60) per litre from 185 ($0.40) Days later, logistics companies announced that customers should expect a 2050% increase in delivery prices. Last week, the association asked all ride-hailing companies to institute a 200% increase with 2,000 ($4.3) as the new base fare, a position which corporations like Uber and Bolt, in rejecting the notion, said would reduce demand for their services and cost the drivers even more. While it looks like the corporations will not budge on the situation, Bolt, on Friday, offered its drivers an incentivea 6,000 daily bonus if they complete 79 trips, accept 90% of orders, and work at least seven hours per day.
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