Africa’s E-commerce platform Jumia has announced the launch of a Food Festival Campaign which will take place from the 1st to 31st October 2020. The campaign is organized in partnership with local restaurants and supermarkets, as well as blue chip international restaurant chains such as KFC, Burger King and McDonald’s. The objective…
Author: AdeO
Easy Solar, a West African solar company, has announced the closing of a $5 million round of funding including a $3 million Series A equity round led by global impact investor Acumen and FMO, the Dutch entrepreneurial development bank. This is an addition to a $2 million debt facility from…
Itanna, the venture capital arm of Honeywell Group, announced its participation in Indicina Technologies’ most recent round of seed funding, investing $150,000 in the fintech startup. The new financing will accelerate the start-up’s continued expansion within Nigeria, as well as support further development of their proprietary technology platform and their…
The Honourable Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami FNCS, FBCS, FIIM has launched the Digital Nigeria Portal and Mobile App. This move is in furtherance of the Digital Nigeria Programme which was kicked off by His Excellency, President Muhammadu Buhari, GCFR, on the 19th of…
A deputy chief magistrate, Tan Ikram, has said Uber, the global ride-hailing giant can continue to operate in London as after he restored the company’s transportation license. The judge ruled that Uber had met a “fit and proper” standard to receive a license for 18 months. Mr. Ikram said Uber…
The video games industry is one of a few sectors that have been booming in 2020, with millions of people spending more time indoors and online amid the COVID-19 pandemic. The increasing number of people choosing video games as their main at-home entertainment led to a significant jump in the…
Nigerian mobility startup, Metro Africa Xpress (MAX) has successfully raised N400 million through a one-year fixed rate series 1 bond, blazing the trails as the first mobility company in Africa to issue a bond. The N400 million series 1 bond was issued under the newly structured N10 billion or $22…
HealthPlus, a leading pharmaceutical firm, has accused Alta Semper Capital, a foreign private equity firm (PEF), of a fraudulent and hostile attempt to take over its business. In a rejoinder to a press release earlier issued by the PEF, HealthPlus dismissed the appointment of Chidi Okoro as chief transformation officer…
Meltwater Entrepreneurial School of Technology – MEST – has announced seven startups that will receive $700,000 in total funding according to Forbes. This investment will coincide with its 10th anniversary. MEST’s 2018 cohort has 7 startups from Ghana, Nigeria, Kenya, South Africa, Cote d’Ivoire, and Zimbabwe. These have graduated from…
The OPEC Fund for International Development (the OPEC Fund) has signed a US$20 million term loan in favor of the East African Development Bank (EADB). EADB will use the loan to support small- and medium-sized enterprises (SMEs) and infrastructure projects in East Africa. EADB is an important regional development institution…
Apple has opened its first online store in India on Wednesday aiming to increase sales and manufacturing capacity in the country, as US companies work to diversify their supply chains outside of China. The September 23 unveiling comes just in time for India’s Hindu festival season — the most lucrative…
Bolt, a leading ride-hailing app in Africa, has expanded its operations in Nigeria with the launch of its services in Jos. This announcement comes shortly after the company announced that it had launched an Insurance Protection cover that safeguards riders and drivers in all its operational cities across the country.…
Aptive Capital, a US-based VC, has announced its investment in three early-stage businesses in Africa; Nigeria, and Uganda. Earlier in June 2020, the Africa-focused investment company opened up applications to invest $10,000 equity capital into eligible and high potential startups based in Africa, from its $1 million portfolio fund. The…
Jumia has launched a Brand Festival campaign in partnership with top global brands such as Reckitt Benkiser, Unilever, Nokia, Intel, HP, Nexus, Hisense, Sharp, Samsung, Binatone, XIAOMI, ABSOLUT, Dettol, and Logitech. The campaign which is scheduled to run from September 21st to 27th, will provide consumers access to top quality…
Elves, an Egyptian-app-based concierge service, has raised $2 million from venture capital firm, Sawari Ventures, and its existing investors. A part of the investment was raised in February earlier this year and another in July. Sawari invested in both the transactions. The new investment takes Elves’ total raised to date…
Global peer-to-peer bitcoin marketplace, Paxful, has plans to strengthen operations in Nigeria with a physical presence in Lagos which will be manned by employees dedicated to the Nigerian market. The country is the company’s leading market in terms of volume and number of users. On their expansion in Nigeria, Tugba Abadan, Head of…
Two Factor Authentication or 2FA is the most trending security method nowadays. Traditional authentication method or the password-only verification method, i.e. 1FA (One-Factor Authentication), is no longer a secure way. Two Factor Authentication is an extra layer of protection used to ensure the security of online accounts beyond just a…
A federal judge has blocked President Trump’s executive order that would have effectively shut down popular Chinese app WeChat, ruling that the action represents a free speech violation. WeChat, used by 1.2 billion users worldwide and 19 million people in the U.S., was set to stop operating in the U.S.…
Twelve Nigerian students from the University of Ibadan, Ahmadu Bello University, Zaria, and University of Port Harcourt have qualified for the Huawei Global ICT competition following an excellent performance in the cloud and network examination at the just concluded Huawei sub-Saharan Africa region ICT competition finals. The Huawei ICT Competition,…
FilmOne Entertainment has signed an exclusive theatrical distribution agreement with The Walt Disney Company Africa for it to distribute the Disney film slate in Nigeria, Ghana, and Liberia. The agreement with FilmOne, which commences from September 1st, reaffirms The Walt Disney Company Africa’s commitment to the west African cinema market.…