Author: Staff Writer

Energenic Holdings, a company delivering energy solutions across 32 African countries has secured an R87.5 million (roughly $5 million) investment from South African private equity firm, Sanari Capital. This strategic investment is set to expand Energenic’s offerings, which currently support essential sectors like telecommunications, tourism, and commerce with reliable and…

Bank of Ghana, the apex regulatory body in Ghana has handed down a 1 month suspension, effective November 8 2024, to an international remittance company, Tap Tap Send, for breaching remittance regulations in Ghana. Tap tap Send’s partnerships with all commercial banks and EPSPs was suspended because its “cedi remittance…

A groundbreaking AI-powered initiative was launched on Monday to create an immersive digital experience of St. Peter’s Basilica in collaboration with Microsoft and Iconem, a heritage digitalization company. The project, designed to enhance the spiritual journey of visitors ahead of the Jubilee celebrations in 2025, offers a virtual replica of…

In a significant investment that promises to drive growth and sustainability in Uganda’s coffee sector, Sahel Capital has approved a $1 million loan to Sukuma Commodities through its Social Enterprise Fund for Agriculture in Africa (SEFAA). This term and working capital loan, a part of Sahel’s efforts to uplift the…

In an ambitious move to reshape Africa’s cross-border payment landscape, Nium, a leading real-time payments infrastructure provider, has partnered with Ecobank Transnational Incorporated, a pan-African financial services powerhouse. This collaboration aims to offer seamless, real-time international payments across 35 African countries, benefiting Ecobank’s 32 million customers. By connecting Africa’s financial…

TikTok has announced a new feature that adds a dynamic twist to music and audio sharing: the launch of “Share to TikTok.” This latest feature empowers users to share music, podcasts, and audiobooks from popular music streaming services, including Apple Music and Spotify, directly to TikTok. With just a tap…

Visa has recently made strategic investments in four innovative African startups—OkHi, Oze, Workpay, and Orda.Africa—through its Africa Fintech Accelerator program. This move underscores Visa’s commitment to digital innovation and financial inclusion across Africa, reflecting its broader pledge to invest $1 billion in the continent by 2027. These startups, operating across…

The UK government, through the British High Commission in Nairobi, has committed KSH 667 million ($5.2 million) to establish a fund aimed at expanding access to financing for small and medium-sized enterprises (SMEs) in Kenya. Spearheaded by FSD Africa, a development finance institution funded by the UK government, this “Listed…

Truecaller founders, Alan Mamedi and Nami Zarringhalam, announced that they will be stepping down from day-to-day operations and will hand over to Rishit Jhunjhunwala to be the Global CEO of the company. This announcement was made by CEO, Alan Mamedi in a post on X. According to him, “After careful…

The International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), both World Bank Group members, are partnering with Tanger Med Port Complex to expand its truck and passenger terminal. This €400 million financing package, which includes a €197 million sustainability-linked loan from IFC and €203 million from a…

The cryptocurrency market surged to new highs on Wednesday, driven by optimism following former President Donald Trump’s victory in the U.S. presidential election. Bitcoin, the world’s largest cryptocurrency, led the rally with an impressive 8% jump, pushing it above $75,000, breaking its previous record from earlier this year. Other popular…

In early 2024, Hamster Kombat took the blockchain gaming world by storm. Launched on Telegram as a tap-to-earn game, it quickly amassed a record-breaking user base, reaching 300 million players in a matter of months. By November 2024, however, the game faced a steep decline, losing over 260 million users…

In a groundbreaking step for sustainable space technology, Japanese researchers from Kyoto University and Sumitomo Forestry have launched the world’s first wooden satellite, named LignoSat (named after the Latin word for wood, “lignum”), into orbit. This innovative satellite, about the size of a palm, was sent to the International Space…

The tablet market is showing signs of robust growth, with worldwide shipments reaching 39.6 million units in the third quarter of 2024 (3Q24), a 20.4% increase over last year, according to the International Data Corporation’s (IDC) latest report. This rise in shipments follows a weak 2023 market, making year-over-year growth…

Ghana emerged as a focal point of cyber threats in West Africa for the first half of 2024, experiencing a surge in Distributed Denial of Service (DDoS) attacks targeting various industries, primarily computer services and telecommunications. According to NETSCOUT’s 1H2024 DDoS Threat Intelligence Report, Ghana witnessed 4,753 attacks during this…

South Korea has imposed a 21.62 billion won ($15.67 million) fine on Meta Platforms, the parent company of Facebook, for unauthorized data collection practices. The country’s data protection authority, the Personal Information Protection Commission (PIPC), found that Meta collected sensitive data about nearly a million South Korean Facebook users and…

In a pivotal moment for Lagos Business School (LBS) and the broader Pan-Atlantic University community, Professor Chris Ogbechie has announced his retirement as dean, effective December 31, 2024. After a distinguished 23-year tenure with the institution, Ogbechie leaves behind a lasting legacy of academic excellence, sustainability leadership, and transformational growth.…

Equinix, a leading global digital infrastructure company, has appointed Wole Abu as its new Managing Director for West Africa. With extensive experience in the Nigerian telecommunications industry, Abu will lead Equinix’s operations across Nigeria, Ghana, and Côte d’Ivoire. His role is aimed at driving the company’s expansion in the region…

Meta’s social networking platform, Threads, has recently hit a major milestone by reaching 275 million monthly active users, a notable achievement in its rivalry with X (formerly Twitter). This progress was shared on Sunday by Adam Mosseri, the Head of Threads and Instagram, who expressed his gratitude to users for…

MTN Nigeria Communications PLC recently announced its plan to raise ₦50 billion through its Series 11 and 12 commercial paper (CP) issuance under its ₦250 billion Commercial Paper Issuance Programme. This initiative aims to strengthen MTN’s short-term working capital and diversify its funding sources, as disclosed in a notification to…