In Other African Updates: What you need to know about Google launching Motorbike Mode navigation in Kenya, first for Africa

During an event held in Nairobi, Google, part of the U.S. firm Alphabet Inc, said it would offer Motorbike Mode on Google Maps in Kenya, offering the voice navigation service for bike riders in Africa for the first time.

Kenyan roads are full of motorcycles taxis, known as boda-bodas, that are much cheaper rides to car taxis. Google already provides service in Asian nations, such as India.

“For over a million Kenyans, boda-bodas are a convenient and affordable way to move and transport goods from one place to another,” Google said in a statement.

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Why Kenya’s Safaricom Lost 1.6 Percent of Its Telecom Subscribers’ Market Share in Q2

Kenya’s telcos giant Safaricom Plc, lost 1.6 percent of its telecom subscribers’ market share in the quarter ended June, marking the third straight quarterly drop for the country’s biggest operator, the industry regulator said,

The company had 29.7 million subscribers during the period, data from the regulator Communications Authority (CA) as reported by Reuters on Monday.

While the users’ base was up 0.7 percent from the previous quarter, Safaricom’s rivals, including Bharti Airtel’s Kenyan unit added more subscribers, resulting in the company’s reduced market share.

Airtel’s subscribers rose 11.9 percent to secure a market share of 21.4 percent. Safaricom subscribers’ market share has plunged to 65.4 percent from 72.6 percent in June last year.

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African Development Bank Showcases Investment Opportunities in Africa to Nordic investors

The African Development Bank (AfDB) in a multidisciplinary team roadshow has presented financial products and investment opportunities to Nordic investors to leverage more access to financing.

The roadshows brought together more than 50 private sector companies, investors and government, and public institutions in Norway, Sweden, Finland, and Denmark.

The event is set to bring the Bank closer to customers to increase awareness of key private sector stakeholders to understand the Bank’s financial and risk mitigation products for investment projects.

The roadshows also generated significant interests of businesses to the Africa Investment Forum, the Bank’s maiden marketplace, scheduled for November 7-9 in Johannesburg, South Africa.

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Why South Africa’s Nedbank is Buying Back Shares from Minority Shareholders

South Africa’s Nedbank Group Ltd said on Monday announced that it will buy back its stock from shareholders who hold less than 100 Nedbank shares because of a spin-off by its biggest shareholder Old Mutual.

Old Mutual, which holds 52 percent of Nedbank, has been dismantling its conglomerate structure, created after a series of acquisitions since it moved its headquarters and primary listing to London in 1999.

As part of the plan, it spun-off a majority stake in Nedbank on Monday and now holds around 19.9 percent.

Nedbank, whose businesses include retail banking and asset management, said in September it had estimated that after the spin-off, it will have many shareholders, increasing from about 20,000 to 500,000.

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