MNT-Halan, Egypt’s premier FinTech unicorn, has successfully closed a substantial funding round, amassing $157.5 million. This financial boost, led by the International Finance Corporation (IFC) and supplemented by key investments from Development Partners International (DPI), Lorax Capital Partners, Apis Partners LLP, Lunate, and GB Corp, underscores the firm’s robust market…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
The Federal Competition and Consumer Protection Commission (FCCPC) has imposed a hefty $220 million penalty on Meta Platforms Incorporated, citing numerous breaches of Nigerian data and consumer protection laws. This landmark action was disclosed in a statement signed by Dr. Adamu Abdullahi, the Acting Chief Executive Officer of the FCCPC,…
CrowdStrike, a prominent cybersecurity firm, recently released an update that led to a significant global outage, affecting numerous systems across various sectors. The update, intended to enhance security, instead caused a widespread disruption by triggering a Blue Screen of Death (BSOD) on many Windows machines, leading to repeated recovery boot…
Lagos Business School (LBS), through its Sustainable and Inclusive Digital Financial Services (SIDFS) initiative, has launched a significant collaboration with the Nigerian federal government to implement the Aso Accord on Economic and Financial Inclusion. This ambitious project is supported by funding from The Gates Foundation and involves collaboration with several…
OpenAI has taken a significant step toward democratizing artificial intelligence with the launch of GPT-4o mini, a highly efficient and affordable small model designed to expand AI accessibility across various applications. This latest addition to the GPT-4 family aims to provide developers and businesses with powerful AI capabilities at a…
In a move set to transform the landscape of mobile content creation, Microsoft Designer has announced the launch of its new mobile app for Android and iOS. Microsoft Designer allows you to utilize templates for creating personalized images, stickers, greeting cards, invitations, and more. Leveraging advanced artificial intelligence tools, this…
d.light, an Off-grid solar provider has announced the closing of a new securitization facility that will purchase USD$176 million of receivables in Kenya, Tanzania and Uganda. The new financing is being provided by social impact-focused asset management company African Frontier Capital. According to a statement made available to Innovation Village, d.light…
In a significant shift in the cybersecurity landscape, Russian cybersecurity firm Kaspersky is set to lay off dozens of employees and exit the U.S. market. This move follows a U.S. government order issued in June that banned the sale of Kaspersky’s software, citing national security risks. Effective July 20, Kaspersky…
Côte d’Ivoire (also known as Ivory Coast) has made a significant stride in the fight against malaria, becoming the first country to deploy the R21 malaria vaccine developed by Serum Institute of India Ltd. and the University of Oxford. The initial doses of this groundbreaking immunization were administered to children…
Uncover, an emerging beauty brand from Africa, has successfully closed a $1.4 million Seed II funding round. This milestone was led by EQ2 Ventures and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital, and Altree Capital. In response to investor demand, Uncover also facilitated a significant secondary transaction as…
Ever tried to pay for a Coursera course in Nigeria? It’s like trying to crack a tough nut without the right tools. You find an awesome course, get all excited, then boom – payment issues. Frustrating, right? But don’t throw in the towel just yet. There are ways to get…
Samsung’s highly anticipated Unpacked event took place in Paris, France, on Wednesday, and it did not disappoint. The event wasn’t just about foldable phones and upgraded watches. The tech giant surprised the audience with its first foray into the smart ring market – the aptly named Galaxy Ring. This sleek…
Bolt South Africa has taken a significant step towards improving safety for its driver-partners by introducing a rider profile feature. This new feature allows riders to add a photo of themselves to their Bolt profile, which aims to ensure safer and more secure rides for both drivers and passengers. Enhancing…
Microsoft Corp. and Apple Inc. have unexpectedly decided not to take board roles at OpenAI, reflecting increasing regulatory concerns about Big Tech’s influence on artificial intelligence. Microsoft, which has invested $13 billion in the creator of ChatGPT, announced its withdrawal from the board in a letter to OpenAI seen by…
To boost textile and apparel manufacturing in Togo, the International Finance Corporation (IFC) has unveiled a financing package for Star Garments Group Limited. This initiative will support the establishment of Togo’s first large-scale, export-oriented apparel manufacturing center, anticipated to create thousands of local jobs. The IFC’s $15 million loan will…
Tanzanian fintech NALA announced that it has raised $40 million in a Series A funding round to accelerate its global growth by focusing on two key areas: the expansion of its consumer business and the development of Rafiki, its B2B payments platform. This is NALA’s second round of fundraising in 2 years, having…
The Corporate Affairs Commission (CAC) has announced an extension for the mandatory registration of Point of Sales agents, super agents, and sole agents until September 5, 2024. In a statement signed by its management and posted on its Twitter page on Saturday, the commission granted a 60-day extension. The extension…
The African Development Bank (ADB) Group Board of Directors has approved a $17 million grant to the Islamic Republic of Mauritania for the Project for Promotion of Gender-Sensitive Agricultural Value Chains and Women’s Entrepreneurship (PCVASGEF) Funded under the Global Agriculture and Food Security Programme (GAFSP), this project aims to boost…
Emerging Markets Telecommunication Services Limited (EMTS), operating as 9mobile, has appointed Obafemi Banigbe as its new Chief Executive Officer. This move represents a significant milestone in the company’s ongoing transformation efforts. Banigbe replaces Juergen Peschel, the outgoing CEO, who will remain involved as a Consultant to aid the transition. Banigbe…
Today’s business world is constantly evolving, and that is why digital presence, more than an option, becomes an important necessity. This is because of the fact that it represents a direct and practical gateway with potential clients.A well-designed and professional online image conveys trust and credibility in the market. This…