Year 5 | Edition 69 | 15 December 2022
Visa pledges to invest $1 billion in Africa to accelerate digital transformation

During the U.S-Africa Business Forum, Visa has announced a pledge to invest $1 billion in Africa over the next five years to advance resilient, innovative, and inclusive economies across the continent.

Visa’s expanded investments demonstrate the company’s long-term commitment to Africa’s growth potential and will help enable greater access to digital payments as an entry point for expanding formal financial services for individuals and merchants. Visa Chairman and CEO Alfred F. Kelly...

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MTN GlobalConnect, MTN South Africa land 2Africa subsea cable in Western Cape to strengthen internet connectivity

MTN South Africa and MTN GlobalConnect, in partnership with the 2Africa consortium, which includes China Mobile International, Meta, MTN GlobalConnect, Orange, center3, Telecom Egypt, Vodafone and WIOCC, have announced the landing of the 45 000km 2Africa cable in Yzerfontein and Duynefontein, South Africa.

For MTN GlobalConnect, this landing is the first in a series of six across five countries: South Africa (two), Sudan, Cote D'Ivoire, Nigeria and Ghana, will allow MTN GlobalConnect to showcase, in a tangible manner, the importance of...

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Vodacom Group completes purchase of 55 per cent stake in Vodafone Egypt

Vodacom Group has announced that its purchase of a 55% stake in Vodafone Egypt from Vodafone Group has cleared all outstanding regulatory and procedural hurdles, making this transformational deal unconditional and officially completed. Vodacom expects to consolidate Vodafone Egypt into its financial statements over the remainder of the financial year.

In November last year, Vodacom announced an agreement to acquire 55% of Vodafone Egypt for an equity consideration of circa R48.1 billion (US$2.738 billion), which has now been successfully settled through the issuance of 241 976 243...

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Telecoming signs deal with MTN to monetize digital services in 21 African countries

Telecoming, an international company specializing in sport and entertainment monetization technologies, has reached a strategic agreement with MTN Group to monetize its sports offer in 21 countries. The impact of the deal opens up a potential market of more than 280 million African users.

This is the second major global agreement that Telecoming has signed with a telco group, following the one reached in 2019, also for the distribution and monetization of entertainment and sports services. The company, therefore...

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Equinix to enter South Africa with $160m data center investment in Johannesburg

Digital infrastructure company Equinix, announced plans to enter the South African market with a $160 million data center investment in Johannesburg, that augments its current footprint on the African continent in Nigeria, Ghana and Côte d'Ivoire. The new data center is expected to open mid-2024. 

With its South Africa expansion, Equinix is entering one of the largest and most digitally developed nations on the African continent.1 Already a strategically important connectivity hub for digital networks, South Africa boasts a significant...

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Medusa Submarine Cable System chooses Orange infrastructure to connect Southern Europe and North Africa

Orange, one of the world’s leading telecommunications operators, and Medusa Submarine Cable System, the Mediterranean subsea neutral and independent infrastructure operator, are joining forces to offer an open and high-performance interconnection solution to all partner operators of the Medusa cable.

8,760 km long, Medusa will be the first and longest submarine cable to connect the main Mediterranean countries. The system will connect the two shores of the Mediterranean and provide access to telecommunication infrastructure that is...

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Fintech company DKK Partners launches Ghana office

DKK Partners, a fintech company, which specialises in emerging markets (EM) and foreign exchange (FX) liquidity, has opened a Ghana operation. The office, which will serve as a hub for the booming African market, will be led by entrepreneur Sam Nti, who joins as director, and will include an additional four full time staff.

The expansion comes following a record year of trading for DKK, with the company’s revenues rising to £63m – up from £3m the previous year. The new operation will be based in The Atlantic Tower building at Airport City, in Ghana’s capital...

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[Kenya] Glovo appoints Caroline Mutuku Country Manager

Caroline Mutuku is the new General Manager for Glovo Kenya. The multi-category platform announced her appointment on Wednesday. Mutuku joins Glovo from Swvl which paused its daily operations in Nairobi this year where she also served as the General Manager from December 2021.

Her other previous experience includes; six years of management consulting at McKinsey & Co. where she focused on developing strategies, facilitating execution, and building digital capabilities for banks and financial regulators across...

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[Nigeria] Online furniture store Taeillo raises $2.5 million for expansion

Nigerian online store Taeillo has announced a $2.5 million funding round from Aruwa Capital, a growth equity and early-stage investor. The online furniture startup was founded in 2018 by Jumoke Dada and now says demand has increased significantly for some of its most popular products.

Taeillo sources raw materials from local suppliers and turns them into furniture pieces such as sofas, beds, chairs and tables which it then sells to individual customers and businesses. This model allows it to execute as both a...

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Jumia closes Dubai office, moves senior staff to Africa

Jumia Technologies has announced the closure of its Dubai office as the company remodels its business following years of loss-making and a constantly evolving eCommerce marketplace.

The company is moving its top managers from Dubai to the African countries they oversee, with most going to Morocco, Kenya and Ivory Coast. The 60-person Dubai office will henceforth be disbanded. “As we are an Africa-focused company, we want our leaders to be based with customers, vendors and employees,” said Jumia’s acting head Francis...

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[Kenya] Government launches free public Wi-Fi at Wakulima Market

The Government of Kenya through the ICT Authority today launched Free Public Wi- Fi at Wakulima Market situated in Nairobi County’s Muthurwa area. The initiative presided over by Cabinet Secretary for ICT & the Digital Economy, HonEliud Owalo aims at enabling the public access affordable, efficient, fast, and reliable internet that is vital for economic and educational development.

The launch of public Wi-Fi hotspot at Wakulima Market follows November’s launch of a similar successful initiative at the Nairobi’s City Market with today’s event coinciding with the 2022 Jamhuri Day celebrations where technology and...

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BOSAF, OP Finnfund Global Impact Fund partner to provide $20m to Africa Mobile Networks

The BlueOrchard Sustainable Assets Fund (BOSAF) and the OP Finnfund Global Impact Fund I will provide $20 million debt investment to support the growth of Africa Mobile Networks (AMN), a telecom provider focused on rural Sub-Saharan Africa, in bringing network services to an estimated 35 million people.

Mobile network access and connectivity are instrumental to promote financial inclusion and support the development of rural populations in emerging economies. In numerous African countries, daily activities such as transferring money, taking...

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Finnfund invests $3.4m in KaiOS Technologies to bring affordable mobile connections to Sub-Saharan Africa

Finnfund has invested $3.4 million in KaiOS Technologies, maker of KaiOS, to bring affordable mobile connections to Sub-Saharan Africa. It has been estimated that 3.4 billion people in emerging markets do not use internet despite living in areas with mobile broadband coverage.

One of the greatest barriers to mobile internet adoption is the cost of a smartphone, often being more than 20% of monthly income. KaiOS brings mobile connectivity to millions of people in emerging markets by providing an operating system that...

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[Column] Chris Akolo: Why online fraud is high during festive seasons and how to prevent it

Kenyan consumers have expressed a strong desire to buy more discretionary products during the festive season while coming out of the pandemic.

However, Christmas and New Year's Eve holidays for many online businesses are not only a pleasant time that you can spend summing up your achievements of the year, planning your long-term prospects, and making gifts to your employees, clients, and loved ones. Unfortunately, at the end of December online fraud reaches its peak. Online...

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[Column] Helmut Engelbrecht: Bridging the digital divide is Africa’s answer to youth unemployment

Apart from fueling one of the greatest financial crises in modern memory, the COVID-19 pandemic also fundamentally changed the world of work. Due to the circumstances the outbreak created, digital transformation was essentially forced upon companies.

Survival depended on adopting technological practices, online platforms, and digital solutions that many businesses would’ve preferred to adopt over several years, not within a few months. This means that the digital transformation wave...

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[Column] Thabiso Foto: Can Africa's startup sector keep up its record funding run amidst global turmoil?

Startups have become vital engines of change that can have an outsized impact on an economy. They are crucial in fueling innovation and enhancing economic and digital competitiveness. They improve access to products and solutions while significantly contributing to employment.

In recent years, amid global economic volatility and uncertainty, Africa's startup ecosystem has shown continued growth, attracting record amounts of funding. According to the African Private Equity and Venture Capital Association...

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[Column] Hardeep Sound: Cloud, innovation key to East Africa's economic growth

When the early days of the pandemic pushed industries across East Africa into survival mode, it sparked a wave of cloud adoption that has swept through the region. 

Focused at first on ensuring business continuity, investment into cloud technologies and digitalisation has since helped organisations in the region build greater resilience and unlock new business models and revenue streams. Even the most reluctant businesses and their customers have now come online. One of the reasons is that the benefits of greater...

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[Column] Greg Day: Nine cybersecurity predictions for 2023

In 2022, ransomware continued to reign king and became one of the most common and dangerous threats facing healthcare organisations and software supply chains. The war on Ukraine created heightened concern over zero-day threats wreaking havoc for organisations worldwide.

The cyber gang Conti with Russian-linked ties managed to disrupt financial operations throughout Costa Rica, and it seems there is no end in sight to the hacking group Lapsus$, which has proven itself to be a formidable threat actor...

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News Headlines

08-12-2023 | 16:30:46
[Column] Rami Osman: Fixed-wireless access 5G is key to bridging digital divide in Sub-Saharan Africa
5G is key to rolling out broadband services in Africa that can support tomorrow’s most demanding applications at scale, at a cost that will be commercially viable for operators and affordable for consumers.

08-12-2023 | 16:28:41
[Ethiopia] M-PESA and Chapa enter into partnership for M-PESA services integration
The partnership aims to boost the ease of transactions for both merchants and M-PESA customers in the Ethiopian market.

07-12-2023 | 14:30:00
[Column] Mike Smollan: Shaping retails future: trends recap 2023
As per the Edge Global Insights Report 2023 - overall, the retail industry this year has navigated the lingering effects of the pandemic, embraced digital transformation, addressed sustainability concerns, and tackled supply chain challenges.

07-12-2023 | 14:29:00
[Column] Anna Collard: The Artificial Intelligence hit list: Six menacing threats you need to know
Locally, the technology has the potential to mitigate security risks, enhance decision-making, address legacy challenges, and have a significantly positive societal impact. Despite the impressive applications and implications, there are associated risks that need to be considered.

07-12-2023 | 13:38:00
tappi Raises $1.5M to digitize and build online trust for African SMEs
tappi, an end-to-end digital commerce SaaS solution tailored for small and medium-sized businesses, has raised $1.5M in an oversubscribed Pre-Seed round led by Mercy Corps Ventures and Chui Ventures.

07-12-2023 | 13:28:00
[South Africa] HAVAÍC leads $15 million Series A investement in Sportable
The sole African institutional investor, HAVAÍC is contributing US$1 million as part of a US$15 million Series A investment round in Sportable.

07-12-2023 | 12:41:00
Kenya's mobile-first strategies make fintechs vulnerable to cyber attacks
Kenya is currently ranked 25th in the world as the most likely to be targeted for malware attacks according to Check Point Research’s October Malware Report.

07-12-2023 | 09:00:00
Nuvei enters global payments partnership with Microsoft
Nuvei Corporation, the Canadian fintech company, announced that it has partnered with Microsoft to deliver leading payment experiences for customers of its products, solutions, and services across many of its key markets.

07-12-2023 | 08:48:00
WATT Renewable Corporation announces strategic partnership with Clear Blue Technologies
WATT Renewable Corporation (WATT), an independently-owned provider of hybrid solar solutions, announces a strategic partnership with Clear Blue Technologies, a publicly traded global leader in smart off-grid technology solutions.

07-12-2023 | 07:43:00
[Kenya] EV startup BasiGo secures $5m debt facility to scale local production
BasiGo, the Kenyan electric vehicle manufacturer has secured $5 million in debt funding from the British International Investment (BII), the UK’s development finance institution and impact investor, to scale local assembly of 100 electric buses.

07-12-2023 | 07:24:00
[Nigeria] FinTech startup Grey rebrands to boost global expansion
Grey, a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans has rebranded completely with a new logo and website.

07-12-2023 | 07:15:00
dLocal and Jeeves announce strategic partnership to streamline client payouts globally
dLocal, a leading cross-border payment platform, is thrilled to announce its strategic partnership with Jeeves, a global financial technology platform that provides businesses with comprehensive financial solutions, to facilitate secure client payments across Africa, Asia, and Latin America.

07-12-2023 | 07:09:00
YouTube Premium and YouTube Music launched in Kenya, Ghana and Senegal
YouTube today announced that YouTube Music and YouTube Premium are now available in Kenya, Ghana and Senegal. YouTube Premium is all of YouTube and YouTube Music without interruptions.

07-12-2023 | 07:03:00
Nuvei a lancé sa solution d'émission de cartes dans 30 marchés à l'échelle mondiale
Nuvei, la société fintech canadienne, annonce qu'elle a lancé sa solution d'émission de cartes dans 30 marchés à l'échelle mondiale.

07-12-2023 | 06:52:00
Airtel Africa ventures into data centre business, first facility to go live in Lagos
Airtel Africa has launched Nxtra, its data centre business that it says has been founded on a commitment to meet the continent’s growing needs for trusted, and sustainable data centre capacity and to serve the fast-growing African digital economy.


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