Author: Staff Writer

Chappal Energies, an emerging player in Nigeria’s energy landscape, has finalized the acquisition of Equinor Nigeria Energy Company (ENEC), concluding Equinor ASA’s 32-year tenure in the country. This landmark deal is a defining moment for Chappal Energies, granting the indigenous firm a 53.85% ownership stake in Oil Mining Lease (OML)…

Triggerfish, Africa’s premier animation studio, has partnered with UNESCO to launch The Creator Labs, a groundbreaking initiative aimed at advancing women in the African animation industry. This collaboration seeks to address gender disparities and foster inclusivity in a sector contributing over $5 billion to Africa’s GDP and employing more than…

McKinsey and Company Africa, a subsidiary of the global consulting firm McKinsey & Company Inc., has agreed to pay over $122 million to settle charges related to a bribery scheme involving government officials in South Africa. The resolution, announced by the U.S. Department of Justice (DOJ), highlights McKinsey Africa’s role…

UK-based e-mobility company OX Delivers has inked a groundbreaking $163 million multi-year contract to launch its first franchise partner, OX East Africa, marking a pivotal step in its mission to transform transportation and trade in the Global South. This expansion will see the company’s innovative electric trucks and subscription-based services…

It has finally happened! Bitcoin price has finally crossed the $100,000 since it launched more than 10 years ago. As of this writing, it is $102,800; however it has reached an all time-high of $103,600. Bitcoin surged in value after Donald Trump’s victory in the 2024 US Presidential Election. On…

For nearly a century, Mercedes-Benz has been the trusted vehicle supplier for the Vatican. Now, the company has reached a groundbreaking milestone by delivering the first-ever all-electric Popemobile to Pope Francis. This sustainable upgrade arrives just in time for the 2025 Jubilee, an event held once every 25 years, expected…

The acquisition battle for Bamburi Cement Plc has taken a decisive turn as Savannah Clinker Limited withdrew its $197.2 million bid, leaving Tanzania’s Amsons Industries (K) Limited as the sole contender with its $182.8 million offer. The decision, announced by the Capital Markets Authority (CMA) on December 4, 2024, follows…

Scientists and engineers from the UK Atomic Energy Authority (UKAEA) and the University of Bristol have unveiled a groundbreaking innovation: the world’s first carbon-14 diamond battery. This cutting-edge energy solution has the potential to power devices for thousands of years, opening new frontiers in sustainable, long-lasting energy sources. The key…

The Meltwater Entrepreneurial School of Technology (MEST Africa) has crowned SAYeTECH as the winner of the MEST Africa Challenge (MAC) 2024, the continent’s premier pitch competition for emerging tech entrepreneurs. SAYeTECH, a Ghanaian startup, impressed judges with its innovative agricultural machinery tailored specifically for African farmers, securing $50,000 in equity…

Binance, a global leader in cryptocurrency exchange, has joined forces with AltSchool Africa to offer full-tuition scholarships to 500 young Africans. The initiative, set to run from January 2025 to December 2025, aims to bridge Africa’s digital skills gap by providing specialized training in software engineering, cybersecurity, sales, and content…

Microsoft is under intense scrutiny in the United Kingdom as it faces a £1 billion lawsuit alleging unfair pricing practices that stifle competition in the cloud computing market. The lawsuit, led by competition lawyer Maria Luisa Stasi, accuses the tech giant of overcharging businesses using rival platforms like Amazon Web…

Nigerian edtech startup AltSchool Africa is set to make waves in Europe, marking a significant step forward in its mission to bridge the global skills gap. The expansion, which follows the startup’s participation in the SuperCharger Ventures accelerator programme and a government-backed growth accelerator in Malta, highlights AltSchool’s ambition to…

Nowlun, a rising star in the digital freight forwarding industry across the Middle East and North Africa (MENA), has successfully raised $1.7 million in seed funding. Led by Nama Ventures and A15, the funding round also saw participation from Sanabil 500 Global and several prominent angel investors. The new investment…

Apple Inc. is stepping up its efforts to secure its presence in Indonesia, Southeast Asia’s largest economy, with a $1 billion investment commitment. This comes as the tech giant seeks to resolve a government-imposed ban on the sale of its iPhone 16 devices due to unmet domestic content regulations. The…

Fintech startup HUB2 has secured $8.5 million in Series A funding to revolutionize digital payments. Led by Pan-African investor TLcom Capital, alongside FMO, Enza Capital, and Bpifrance, this investment empowers HUB2 to expand its reach, enhance its technology, and simplify payment solutions for businesses across the region. Founded in 2019…

The Federal Competition and Consumer Protection Commission (FCCPC) has launched a significant inquiry into consumer complaints involving three major industries: banking, telecommunications, and aviation. The investigations aim to address allegations of poor service delivery, exploitative practices, and potential violations of consumer rights. According to FCCPC in a statement, the inquiries,…

Swiss cement maker Holcim AG is set to exit the Nigerian market by selling its 83.8% stake in Lafarge Africa to China’s Huaxin Cement Co. in a landmark $1 billion deal. The transaction, expected to close in 2025 pending regulatory approvals, underscores Holcim’s ongoing strategy to streamline its portfolio and…

The World Trade Organization (WTO) General Council has unanimously reappointed Dr. Ngozi Okonjo-Iweala for a second four-year term as Director-General. Her new term will commence on September 1, 2025, extending her historic tenure as the first woman and the first African to lead the global trade body. A Transparent Process…

In a vibrant showcase of innovation and talent, Feegor, an innovative B2B e-commerce company, emerged as the grand prize winner at Wema Bank’s Hackaholics 5.0, taking home an impressive N50 million. The event, held recently in Lagos, spotlighted the ingenuity of Nigeria’s tech ecosystem and marked another milestone in the…

The Communications Regulatory Authority of Namibia (CRAN) has issued a firm cease-and-desist order to Elon Musk’s satellite internet service provider, Starlink, citing unlicensed operations within the country. This development adds Namibia to the list of African nations where Starlink faces regulatory hurdles despite its growing presence across the continent. Regulatory…