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Welcome to today’s Big 5 Daily Edition!
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Big news! OLX Group has entered a merger deal that will allow it own 39% of Emerging Markets Property Group (EMPG). The group is also investing $150 million into EMPG to help them grow further.
Next, MENA based e-hailing company Careem, is shutting down its mass transit service, Careem Bus. This decision is one of its reason for laying off 31% of its workforce.
See also: The Big 5 Daily: 4th May, 2020
Have you heard? Visa and Safaricom are now in partnership. This deal will help grow Safaricom’s Mpesa on Visa’s global merchant network across 200 countries.
Also, Venture for Africa has announced a new three-month Global Fellowship program. The program aims to match skilled global talent with leading African tech startups.
Finally, Instabug an Egypt-based software startup has secured $5 million in a series A round. The startup will use the round to foster expansion across mobile development life-cycle.
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