- What’s this about? Redington and Vertiv have formed a strategic distribution partnership to enhance the reach of Vertiv’s critical digital infrastructure solutions across Africa, leveraging Redington’s expertise and market presence. The partnership will combine Vertiv’s industry-leading power and…
- What’s this about? Jumia’s share price has surged 55% in five days, closing at $12.08 on Friday and lifting its market value to $1.32 billion, reflecting growing investor confidence in the company. Under the leadership of new CEO Francis Dufay, Jumia has restructured its business, laying off 43% of…
- What’s this about? CanalBox, developed by Group Vivendi Africa (GVA), has launched in Uganda with a Shs50 billion ($13.5 million) investment, aiming to connect 500,000 homes in Kampala and Wakiso to fibre optic Internet within three to four years. The new broadband service offers competitively…
- Add a New Post What’s this about? Airtel Uganda plans to sell the remaining shares from its undersubscribed IPO to comply with Uganda’s regulatory requirement of listing at least 20% equity on the local stock exchange by November 2026. The telco aims to use the funds raised from the IPO to upgrade…
- What’s this about? Hala, the UAE-based e-hailing taxi service, is partnering with MwaslaTech to enter the Egyptian market, focusing on introducing advanced mobility solutions in cities like the New Administrative Capital. The partnership, formalized through a Memorandum of Understanding, marks Hala…
- What’s this about? Tanzania’s Amsons Group has made a $182.89 million offer to acquire a 100% stake in Kenya’s Bamburi Cement from the Swiss multinational Holcim, potentially delisting the company from the Nairobi Securities Exchange. Amsons’ acquisition bid offers Bamburi Cement shareholders a 44.…
- What’s this about? Huawei launched its Cloud Stack 8.3 at the Huawei Africa Connect 2024 conference to accelerate industry intelligence and cloud adoption across Africa. The new offering provides trusted cloud infrastructure, innovative cloud services, and extensive industry knowledge, supporting…
- What’s this about? BasiGo Rwanda received a RWF 300 million ($225,000) grant from Ireme Invest to upgrade its charging infrastructure and support its expanding fleet of electric public transport buses in Kigali. The company has introduced Kigali’s first fully electric bus and raised significant…
- What’s this about? ngCERT is actively safeguarding Nigerian-based cloud service providers from rising Phobos ransomware attacks, targeting critical sectors including government agencies, financial institutions, and telecom providers. The agency has observed an increase in ransomware attacks…
- What’s this about? Safaricom has surpassed Airtel Kenya in 5G deployment, reaching 803 sites by March 2024 compared to Airtel’s 690 sites, driven by aggressive rollout efforts. In a year, Safaricom activated 598 new 5G sites, expanding its coverage to 43 out of 47 counties, while Airtel added 320…
- What’s this about? Exits MENA, a fintech platform for startups and SMEs in the MENA region, has announced a strategic joint venture in Saudi Arabia backed by Saudi investors led by Ammar Ahmed Shata. Founded in 2022, Exits MENA offers a fully integrated online solution for M&As and investments…
- What’s this about? Egyptian online educational platform El Kheta has secured $400,000 in funding from EdVentures, the investment arm of Nahdet Misr Group and the Middle East’s first ed-tech-focused venture capital firm. El Kheta offers innovative reinforcement lessons, exercises, and exams from the…
- What’s this about? Innovate Africa has launched a $2.5 million angel investment fund to support up to 20 early-stage African startups, aiming to address insecurity, unemployment, and poverty through technological innovations. The fund provides strategic capital and comprehensive support in finance…
- What’s this about? A cohort of Kenyan university lecturers graduated from a 12-week Microsoft program, achieving a 100% completion rate, aimed at enhancing their tech skills, particularly in AI, teaching, and research. The program, developed with Microsoft Leap, included practical projects and…
- What’s this about? MTN Nigeria recorded an after-tax loss of ₦137 billion in 2023, primarily due to net forex losses, while generating ₦2.46 trillion in revenue and paying ₦543.9 billion in taxes and levies. The company’s 2023 sustainability report highlighted increased capital expenditure by 13.2…
- What’s this about? Comrade Ibrahim Ayoade of the Amalgamated Union of App-based Transporters of Nigeria (AUATON) clarified that the union cannot own e-hailing app companies due to legal and constitutional restrictions, positioning the union as a regulator rather than an industry player. The union’s…
- What’s this about? Niger Telecoms has launched a project to improve nationwide connectivity, focusing on underserved rural areas, by completing the construction of 16 new sites in the Maradi region. The network expansion project involves deploying advanced equipment and infrastructure, such as…
- What’s this about? The National Information Technology Development Agency (NITDA) plans to develop an indigenous blockchain named Nigerium to enhance data security and national protection. The University of Hertfordshire Law School delegation highlighted the need for Nigeria to create its…
- What’s this about? Pumpkn, a South African startup providing financial support to agribusinesses through data-driven credit assessments, secured funding from Renew Capital to bridge the agricultural financing gap. Pumpkn’s platform offers fast loan approvals and seamless access to financing for…
- What’s this about? Zuri, a Kigali-based beauty startup, secured funding from Renew Capital to enhance its distribution of high-end beauty products and services across Africa and Europe. Established in 2016, Zuri plans to integrate physical salons, an e-commerce platform, and social media channels…
- In a continuous effort to promote digital exposure and economic prosperity among the youths and the nation at large, GFA Technologies in partnership with the Kaduna State Government has launched the Kaduna Digital Skills Program for Youths and SMEs. The initiative, which was launched on Wednesday…
- What’s this about? The National Information Technology Development Agency (NITDA) plans to establish research centers for AI, IoT, and blockchain across Nigeria’s six geopolitical zones to foster innovation and support startups. The NITDA Director General, represented at the IoT West Africa…
- What’s this about? Nigeria’s SEC has mandated all Virtual Asset Service Providers (VASPs), including cryptocurrency companies, to establish offices in Nigeria and complete their registration under the Accelerated Regulatory Incubation Programme (ARIP) within 30 days to comply with upcoming Digital…
- What’s this about? Zedcrest has acquired RMB Nigeria Stockbrokers Ltd for between ₦400 million and ₦420 million to expand its services and provide clients access to Nigeria’s equity market, which saw a 45% gain last year. The acquisition, which will rebrand RMB Nigeria Stockbrokers Ltd as Zedcrest…
- What’s this about? Five Nigerian cloud companies are actively lobbying the government to prioritize local cloud providers for hosting sensitive government data, aiming to capitalize on the 2019 National Cloud Computing Policy. These efforts are driven by a desire to reduce costs associated with…
- What’s this about? Nigerian-born Prembly and Kenyan startup Peleza have merged to form the Prembly Group, aiming to leverage their combined expertise to enhance identity management services in East Africa. The merger, building on a year-and-a-half-long collaboration, will see Lanre Ogungbe become…
- What’s this about? Telecom Egypt and 4iG Group have signed an MoU to invest $600 million over ten years in building a high-speed fibre network for six million households in Egypt. This partnership aligns with Egypt’s Vision 2030, enhancing FTTH and FTTS services, improving mobile networks, and…
- What’s this about? NCBA Group PLC has acquired 100% of AIG Kenya Insurance Company Limited to strengthen its position in the financial services industry. The acquisition aims to enhance customer convenience by integrating NCBA’s distribution platforms with AIG Kenya’s insurance capabilities,…
- What’s this about? Colombian fintech startup Minka has announced its expansion into Africa, starting with operations in Kenya, Tanzania, Uganda, and Ethiopia, and plans to enter Southern African markets. Founded in 2016, Minka raised $24 million in a 2022 Series A funding round and aims to…
- What’s this about? Bamboo, a Nigerian online stock platform, has expanded to South Africa, allowing users to invest in US stocks via their smartphones after obtaining a financial services provider license from the South African Financial Sector Conduct Authority (FSCA). Bamboo’s CEO, Richmond…
- What’s this about? GIGM and Travelstart have launched a strategic partnership to integrate their services, allowing customers to book both road and air travel on a single platform. The collaboration aims to provide a seamless travel experience with combined costs and the convenience of one ticket…
- What’s this about? Meta has enabled content creators in Nigeria and Ghana to earn money from ad revenue on Instagram and Facebook, a feature previously unavailable to them. Content creators in these countries can now monetize their content through in-stream and live ads, reels, bonuses, and…
- What’s this about? Orange Energies has opened its Orange Smart Energies platform to all energy producers in Africa and the Middle East to enhance energy inclusion through prepaid access to solar kits and smart meters. The platform guarantees customer payment via mobile money, addressing…
- What’s this about? Minister Bosun Tijani announced an investigation by the Nigeria Data Protection Commission (NDPC) into the alleged sale of National Identification Numbers (NIN) by unauthorized platforms. Tijani coordinated with Minister Olubunmi Tunji-Ojo and the National Identity Management…
- What’s this about? The Nigerian government announced a $2 billion Fibre Forward Strategic Development project to extend the country’s fibre-optic network by 90,000 kilometresFibre, aiming to revolutionize connectivity and create jobs. The project, managed by a Special Purpose Vehicle (SPV), aims to…
- What’s this about? The African Development Bank’s Urban and Municipal Development Fund (UMDF) expanded its African Cities Programme to include six new cities, addressing critical urban development challenges. The expansion will provide financial and technical assistance to improve governance,…
- What’s this about? Cadana, a fintech startup focused on emerging markets, has secured $7.1 million in seed funding led by Costanoa Ventures to enhance remittance and payroll services for African professionals. The company has built a robust local infrastructure, integrating payment systems and…
- What’s this about? Egypt’s Connect Money, a fintech company specializing in embedded finance, has secured $8 million in seed funding to launch five new business verticals. The company offers a comprehensive white-label card issuing platform that allows businesses to provide debit and credit cards…
- What’s this about? Launch Africa Ventures has invested $4.3 million in 16 startups across 11 African countries as part of its second fund. The firm, founded in July 2020, closed its first fund at $36.3 million in March 2022, with investments from 238 investors in 40 countries. The second fund…
- What’s this about? WIOCC Group is set to raise over $50 million from international institutions, including IFC, Proparco, and RMB Corvest, to enhance digital infrastructure in Nigeria, South Africa, and the Democratic Republic of the Congo. The funding, structured as sustainability-linked debt,…
- What’s this about? Africa Data Centres has secured ZAR 2 billion in funding from RMB to expand its data centre capacity and meet the rising demand for cloud computing services in South Africa. The financing agreement, arranged by RMB, highlights Africa Data Centres’ strong financial position and…
- What’s this about? The Lagos State government has partnered with Interswitch’s healthtech subsidiary, eClat, to launch the Smart Health Information Platform (SHIP) to enhance data movement and management across its healthcare facilities. The Digital Health Platform Limited, an SVP Comprising of the…
- What’s this about? Immobazyme, a South African biotechnology start-up from Stellenbosch University, secured $1.3 million (R24.5 million) to double its facility size and expand production capabilities. The company, founded in 2019, specializes in precision fermentation to produce high-value protein…
- What’s this about? Downforce Technologies, a climate tech startup based in London, has raised $4.2 million to develop soil fertility measurement tools for Africa and expand its market presence. The funding round was led by Equator VC, with existing investors including Tiverton Agriculture Impact…
- What’s this about? Flutterwave and Nigeria’s EFCC have partnered to establish a Cybercrime Research Centre at the EFCC Academy, aimed at combating internet crime and promoting secure online transactions. The partnership, formalized on June 14, 2024, through an MoU signed in Abuja, will focus on…
- What’s this about? Paris-based VC Breega has launched its first African fund, “Breega Africa Seed I,” with $75 million to invest in early-stage startups across several African countries, focusing on sectors like agrotech, edtech, and fintech. The fund will be managed by Melvyn Lubega and Tosin…
- In a transformative move to empower the workforce of tomorrow, GFA Technologies has teamed up with the Lagos State Government and Wema Bank to unveil the LAG-UP Skills Program, an initiative that aims to empower the youths and SMEs of Lagos State. This initiative, which was launched on Tuesday 18th…
- What’s this about? The Lagos State Government, in collaboration with GFA Technologies and Wema Bank Plc, has launched the Lagos State Upskill Program (LAG-UP) to equip young people with digital skills for self-reliance and economic growth. The program, endorsed by Commissioner Mobolaji Abubakre…
- What’s this about? Ampersand and BYD have signed a Memorandum of Understanding to collaborate on enhancing electric motorbike development and deployment in Africa, aiming to decarbonise the continent’s commercial motorbike transport system. Ampersand will purchase BYD’s lithium iron phosphate…
- What’s this about? Paystack has launched its Virtual Terminal in Côte d’Ivoire, Ghana, Kenya, and South Africa, enabling merchants to generate unique QR codes for employees to facilitate diverse payment methods. This Virtual Terminal allows for instant payment confirmations via WhatsApp, the…
