Year 5 | Edition 62 | 28 October 2022
 
Safaricom announces commercial launch of 5G services in Kenya

Safaricom announced the availability of 5G Wi-Fi to empower its customers with superfast internet at home and at work, complementing its growing fibre network.

Safaricom became the first service provider in Kenya to announce 5G trials in March last year, and this development now empowers customers in 5G-ready areas to enjoy fast and reliable internet connectivity for their homes and businesses. “We believe in the transformative power of the...

Read more

 
EIB backs MTN Nigeria with €100m for high-speed network expansion

The European Investment Bank (EIB) has agreed to €100 million financing with MTN Nigeria to support the telecommunications company’s network expansion programme. The investment will aid the acceleration of 4G coverage in Nigeria and expand broadband access in line with MTN’s Ambition 2025 strategy.

This transaction represents EIB’s largest financing for mobile telecoms network expansion in Africa and is consistent with MTN Nigeria’s digital transformation and inclusion efforts. It will improve network capacity across the country to...

Read more

 
NALA enables Google Pay payments from the US and UK into Africa

NALA, a Tanzanian fintech startup facilitating remittances from the African diaspora in the UK and US, has integrated Google Pay into its suite of payment options for users.

With this announcement, NALA, currently on a three-week streak of announcing improvements to its product, is cementing itself as the first Tanzanian startup to enable a global payment service for users, and the first African startup to roll out Google Pay for all its customers. Following NALA’s integration of Apple Pay into its product last week, this...

Read more

 
MoneyHash expands operations into sub-Saharan Africa

Large organisations that operate in Africa often have issues with payment collection due to the varying currencies on the continent, differing government policies and fragment payment systems. To remedy this, these organisations have to hire an in-house team to build custom payment solutions. 

Providing an alternative for large companies is  MoneyHash, an Egyptian US-based fintech company that provides a platform for businesses that want to remove the complexity and effort of building and maintaining a payment infrastructure...

Read more

 
[Kenya] Glovo launches its third micro fulfillment center in Nairobi

Glovo launched its third micro fulfillment center in Nairobi, Kenya, as the company expands its ‘Q-commerce’ division. Q-Commerce means that consumers can use Glovo to order from their favorite supermarkets and neighbourhood stores. 

The first micro fulfillment center was launched in June 2021, while the second was opened in June 2022, now with the opening of the third MFC, Glovo is looking into leveraging their advanced affordability value proposition and offer affordable fresh and consumer packaged goods (CPG) to the lower...

Read more

 
Raspberry Pi to produce some of its flagship hardware devices in Kenya

UK-based computing solutions provider Raspberry Pi plans to produce some of its flagship hardware devices in Kenya through a partnership with Gearbox Europlacer.

The products to be manufactured at Gearbox Europlacer beginning mid-November 2022 will bear a  ‘Made in Kenya’ mark and will be available to its customers both in Kenya and the East and Central  Africa region. Raspberry Pi, since its inception, has been instrumental in the resurgence of teaching basic computer science skills across the world through its popular Raspberry Pi single-board computers. These devices...

Read more

 
NTT opens new data center in South Africa to support growing digital economy

NTT Ltd., a leading IT infrastructure and services company, today announced the opening of its latest data center in Johannesburg, South Africa. Johannesburg 1 Data Center is part of NTT’s expansion into the African continent with a capacity of 12MW covering 6,000m² of IT space once fully built out.

The technical infrastructure is supported by N+1 uninterruptible power supply systems (UPS), N+1 generator backup, and highly redundant cooling systems. This will provide clients with dedicated sustainable infrastructure...

Read more

 
[Rwanda] UK DIT report highlights potential for digital growth in Africa through affordable mobile access

A report from the United Kingdom’s Department for International Trade (DIT) highlights the potential of mobile and digital services to grow African economies and deliver improved quality of life across the continent. 

In the ‘The rise of Africa’s digital economy - tackling the ‘usage gap’ to create a thriving market for mobile services’ report, which is launched at MWC  Africa in Kigali, Rwanda, the Department highlights the opportunities that exist if businesses and government’s work collaboratively to...

Read more

 
Kenyan fintech Tanda plans agency banking entry in Uganda, Rwanda, Tanzania

Founded in 2018, Tanda allows shop owners to access inventory on credit, and also become access points for essential services such as airtime, utility payments, banking and insurance services for their customers.

The platform aggregates all major financial services providers, allowing agents to sell various digital products, while it also delivers essential goods to shops. It also extends unsecured credit to its agents. Tanda’s platform and network supports 58 banks and saccos, four telecoms, 18 billers, and 12,000...

Read more

 
South African digital identity startup iiDENTIFii raises $15m growth capital to fuel expansion across Africa

iDENTIFii has developed advanced face authentication technology that safely authenticates users via their cell phones or PCs within seconds. The startup operates across several industry verticals and is used by the largest pan-African banks, insurers and mining houses for both customer and employee authentication. 

Its US$15 million funding round was led by African investment company Arise, whose cornerstone investors include Rabobank Partnerships, Norfund, NorFinance and FMO. Investors in the round alongside Arise are growth-stage private equity firm...

Read more

 
Huawei targets Kenya’s remote rural areas with new RuralLink solution

Rural and remote areas with poor mobile network reception will now be able to receive better signals following the launch of a new solution by telecommunications technology firm Huawei.

Known as RuralLink, the new solution was first unveiled by Huawei at the Global Mobile Broadband Forum 2022 (MBBF2022) in Bangkok Thailand this week. Aaron Jiang, President of Huawei Wireless Product Line, noted the significance of RuralLink, pointing out that, "Rural areas...

Read more

 
International Finance Corporation set to invest in Safaricom Ethiopia

International Finance Corporation, part of the World Bank Group, edges closer to buying US$160 million of equity and about US$100 million of debt of Safaricom Ethiopia.

It is worth noting that if the move is approved by the shareholders of the telecom company and IFC, it will bring down the share of Safaricom in the consortium to 50 per cent. In a statement, Peter Ndegwa, the CEO of the parent company for Safaricom Ethiopia, confirmed that the negotiation to sell some shares for the World Bank subsidiary is underway...

Read more

 
Fintech boosts SME growth through significant sales increases, Payflex

An innovative payment gateway is supporting the growth of SMEs by increasing their sales, increasing the order values of their products, and encouraging repeat purchasing. 

Payflex allows consumers to shop now and pay later interest-free and was the first buy now pay later (BNPL) solution in South Africa. Payflex is available at more than 2,200 online merchants. Consumers can apply in seconds and pay for their purchase with any Visa, Mastercard or American Express card over 6-weeks, interest-free. This BNPL service allows...

Read more

 
Fintech emerging as Africa’s most vibrant sector, study

Fintech startups in Africa grew 81% in 2021, with South Africa, Nigeria, and Kenya emerging as key hubs on the continent, found a Mastercard study on the state of fintech in African markets.

The white paper titled ‘The Future of Fintech: Rapid Growth Attracts Smart Capital’, was released at Mobile World Congress (MWC) Africa, one of the continent’s most influential connectivity events, of which Mastercard is a founding partner. Some of the key findings from the paper include how the...

Read more

 

 
 
[Column] Mia Pieterse: Further fintech innovation requires regulation

Traditional banks have monopolised the banking industry for a long time – not just in South Africa, but globally. We have trusted banks as intermediaries with our money and paid their fees – not because we were happy about it, but because there was no real alternative.

Over the last decade, banking customers have switched to digital channels in both their personal and professional capacities – in many cases, demanding that their suppliers follow suit. This has compelled merchants to digitalise the...

Read more

 
[Column] Fanie Botha: Migrating data from the mainframe to the cloud simplified

Recent advances in automated tools for migrating legacy applications to the cloud have altered the mainframe market. Many companies that rely on mainframes are now migrating to modern cloud-based platforms in order to stay relevant and ultimately, to save costs. 

However, one of the biggest challenges when migrating from any mainframe is moving transactional and master data. These large-scale migrations normally take longer than 18 months and given the scale and complexity of these projects...

Read more

 
[Column] Natascha Netha: African tech companies must work harder than ever to attract and retain top talent

The past few years have been immense for the African tech space. Thanks to substantial infrastructure investments, connectivity has become increasingly ubiquitous and affordable. The addressable market for technology-focused solutions has grown massively with millions of people coming online.

Investors have taken note of this growth, with startups across the continent attracting a record US$4 billion in funding in 2021. Despite ructions in other technology markets, things have yet to slow down on the continent. In the first half of...

Read more

 
[Column] Hyther Nizam: How can businesses use low code to enable and empower teams?

Most entrepreneurs understand how important it is to constantly be innovating and building new products. But doing that the traditional way can be incredibly time and resource intensive.

Even if you have the investment and funding needed for a team of developers, that doesn't guarantee you'll get new applications out at the speed you need to remain competitive. It also doesn't guarantee you'll get the best possible applications for your wants and needs. After all...

Read more

 
[Column] Eylem Oruc: Rethinking the data age

Data is the foundation of an intelligent business. But data, data consumers and the business expectations of data have changed. The shifting realities call for a higher level of data maturity and the right technologies to achieve outcomes.

It’s time for businesses to rethink and modernize data management strategies to ensure they’re set up to achieve better outcomes and digitally differentiate.  As every organization races to transform, here are some key shifts...

Read more

 
[Column] Wiehann Olivier: Embrace cryptocurrencies but understand the risks

Any physical, intangible, financial or non-financial investment has an element of risk associated with it and an investor can either accept the risk, try to mitigate it or avoid it entirely. However, to do any of these, the risks must first be understood.

The same applies to the investment of digital assets such as cryptocurrencies, where investors have been able to generate significant returns through various revenue streams including trading, decentralised finance (DeFi) and arbitrage...

Read more

 

 
News Headlines

08-12-2022 | 13:44:40
African fintech startup Chipper Cash lays off 13% of its workforce
Many employees from various departments took to their LinkedIn accounts to announce the developments which were later confirmed by VP of Engineering Erin Furaso in a social media post.


08-12-2022 | 12:07:00
Beko rolls out mobile commerce platform for Kenyan consumers
Beko, one of the top 3 large home appliance brands in Europe with a strong footprint in Africa has announced its entry into the mobile commerce space with the rollout of a WhatsApp-powered service


08-12-2022 | 12:00:00
Nigerian mobility fintech Moove raises $30 million for UAE expansion
Nigeria’s mobility fintech startup Moove has raised $30 million to expand its electric vehicle fleet in the MENA region. The funding was raised from a debut sukuk issuance arranged by Franklin Templeton Investments (ME) Ltd.


08-12-2022 | 11:59:00
ONEWEB and Q-KON Africa sign five-year agreement to distribute Low Earth Orbit satellite connectivity services in Africa
Q-KON Africa will be a provider of OneWeb’s high-speed, low-latency satellite internet connectivity in key African countries to benefit schools, hospitals, businesses and governments.


08-12-2022 | 11:21:00
Secteur privé pourrait permettre de stimuler la croissance et créer plus d’emplois au Cameroun,Banque Mondiale
Selon un nouveau rapport publié par la Banque mondiale, le Cameroun pourrait créer de nouvelles sources de croissance économique et stimuler son développement en renforçant la participation du secteur privé dans son économie.


08-12-2022 | 11:11:00
IFC, Airtel partner to support mobile internet connectivity expansion across Africa
To support universal and affordable broadband access in Africa, and the opportunities that come with increased connectivity, IFC announced a loan to Airtel Africa to help connect millions of new subscribers to mobile internet in six African countries.


08-12-2022 | 10:47:54
Clickatell launches chat commerce solutions for travel industry
Added benefits of the Platform include reduced costs for businesses to conduct chat conversations and engagement in real-time or any time communications.


08-12-2022 | 09:44:00
Jumia has announced leadership changes to support its journey towards profitability
New leadership appointed with a plan focused on path to profitability and e-commerce fundamentals.


08-12-2022 | 09:41:25
[Column] Thabiso Foto: Can Africa's startup sector keep up its record funding run amidst global turmoil?
In recent years, amid global economic volatility and uncertainty, Africa's startup ecosystem has shown continued growth, attracting record amounts of funding.


08-12-2022 | 09:16:00
Microsoft’s global digital skills program launched in Kenya
The Skills for Jobs Learning Pathways program has been introduced locally as a build-up to the success of Microsoft's Global Skills Initiative which was launched in June 2020


08-12-2022 | 08:56:00
The cloud is a growing target for cyberattacks, new Sophos survey finds
Among Infrastructure as a Service [IaaS] Users, 56% Experienced an Increase in the Volume of Attacks and 67% Were Hit by Ransomware


08-12-2022 | 06:32:53
[South Africa] Equity crowdfunding platform raises over R6m for two businesses in 6 weeks
The fundraise was facilitated by GoGetta, a newly launched equity-based crowdfunding platform focused exclusively on African businesses.


08-12-2022 | 06:24:00
[Kenya] iColo expects demand for colocation centres to increase
iColo CEO Ranjith Cherickel while speaking during a recent media tour of the firm’s recently opened Mombasa (MBA2) data centre said this increased demand is expected to be in line with the country’s GDP.


08-12-2022 | 06:20:00
[South Africa] VC firm 4Di Capital announces the second close of a new $25 million seed fund
South African- based early-stage technology venture capital fund manager 4Di Capital has announced a close of a new US$25 million seed fund.


08-12-2022 | 06:17:00
MTN named the most compliant listed company on the Nigerian Exchange
The award recognises the listed company with the highest levels of compliance with the Rules of The Exchange and other applicable laws and regulations.


 


 
Click here for the webversion

To unsubscribe click here
 

Colofon:

Africa CEO Network NEWS is a publication of Africa Business Communities
www.africabusinesscommunities.com

info@africabusinesscommunities.com

www.twitter.com/africabizz
Publisher/Editor in Chief: Bas Vlugt

Editors: Nixon KanaliBob KoigiAndrea AyemobaPie Kamau

Send your press releases to: info@africabusinesscommunities.com


Africa Business Communities is a Digital B2B Publisher that enables companies and organizations to connect with African Business Professionals. Africa Business Communities supports doing business in Africa by recruitment services, custom media productions and market research. Africa Business Communities is the largest player on LinkedIn in Africa.

Become a member of de Africa CEO Network on LinkedIn

www.africabusinesscommunities.com

www.nigeriabusinesscommunities.com

www.africabusinesspanel.com

www.africaonlinemarketing.com

www.africapresslist.com

www.africanewsmonitoring.com

www.headhuntersinafrica.com

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -