In a significant shift, Apple has emerged victorious over Samsung Electronics, ending the latter’s 12-year reign as the largest seller of smartphones globally. According to data from the International Data Corp. (IDC), Apple secured a commanding 20% share of the market in 2023, outpacing Samsung, which concluded the year with…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
Scrapays, a Nigerian Cleantech Startup, Fusing Recycling, Technology and Finance entity, has raised some funding from the Catalyst Fund, a global accelerator for inclusive tech startups. Founded in 2019 by Boluwatife Arewa and Tope Sulaimon, Scrapays enables the proper disposal of waste by creating and empowering a network of micro-enterprises that…
In March 2022, alGROWithm made headlines with the announcement of its groundbreaking initiative, the creation of Africa’s inaugural Growth Talent Accelerator Program (GTAP). Now, in a pivotal move, the organization is set to redefine the landscape of talent development in the African tech startup ecosystem, thanks to a game-changing funding…
In a strategic move reflecting the growing interest in alternative assets, U.S. private equity firm General Atlantic has announced the acquisition of UK-based infrastructure investor Actis. This development comes hot on the heels of BlackRock’s recent $12.5 billion deal with Global Infrastructure Partners, underlining a trend where major players are…
In a strategic move, British energy giant Shell is set to offload its Nigerian onshore oil and gas subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), to a consortium of five predominantly local companies for a substantial $2.4 billion. This landmark decision comes after nearly a century of…
In an innovative move aimed at transforming the digital landscape, Microsoft and Vodafone announced a 10-year strategic partnership designed to propel digital platforms to new heights. The collaboration will harness the strengths of both companies to provide scaled digital services to over 300 million businesses, public sector organizations, and consumers…
Safaricom, M-PESA Africa and Sumitomo Corporation – a leading Fortune 500 global trading and business investment company – have announced calls for tech startups looking to join the Spark Accelerator program, which aims at accelerating early stage startups to grow and scale their businesses. The three-month accelerator program will provide a…
In a bid to enhance crucial infrastructure development across Africa, the International Finance Corporation (IFC) has announced a $30 million equity investment in the Africa Infrastructure Investment Fund 4 Partnership (AIIF4). Managed by Africa Infrastructure Investment Managers (AIIM), a subsidiary of the Old Mutual Group, the fund is poised to…
FriendyM, an Egypt-based autotech company, has secured a $2 million investment to extend its car management and maintenance services across the Middle East and North Africa (MENA). Founded in 2016 by Abdelrahman Elgamal, FriendyM offers, through its platform, several car services like maintenance, tracking car expenses, and concierge services, among…
Global Infrastructure Partners (GIP), a leading infrastructure investor with over $100 billion in assets under management, has agreed to be acquired by BlackRock for $12.5 billion in cash and stock. BlackRock has committed to paying $3 billion in cash and issuing 12 million of its own shares to GIP’s six…
Hertz is making waves in the automotive world by offloading 20,000 electric vehicles, primarily comprised of Teslas, and funneling the proceeds into the purchase of gasoline-powered cars. Citing diminished demand for EVs and unexpectedly high repair costs, the company initiated the sell-off last month, set to extend throughout 2024. Notably,…
Alphabet Inc.’s Google is undergoing substantial layoffs, affecting hundreds of employees across various teams, including the digital assistant, hardware, and engineering units. The restructuring effort is part of Google’s ongoing cost-cutting initiative, as the tech giant faces increased competition in the artificial intelligence (AI) space from rivals like Microsoft Corp.…
The Central Bank of Nigeria (CBN) has dissolved the boards of three banks – Union Bank, Keystone Bank and Polaris bank with immediate effect. According to the apex regulatory bank via a press release seen on X and signed by acting Director, Corporate Communications Mrs Hakama Sidi Ali, the “action…
In a press release titled “Transforming the Global Town Square,” X, formerly known as Twitter, outlines its ambitious plans for 2024, emphasizing a transformational year ahead. Building upon the foundational work laid in 2023, the company aims to bring its vision for the global town square to life, positioning itself…
As anticipation builds around Amazon’s imminent entry into South Africa’s burgeoning e-commerce sector, Naspers Ltd., the continent’s largest company by market value, is doubling down on its investment in the South African online retail landscape. The move is strategically aimed at fortifying its position against the global e-commerce giant’s foray…
Seedstars Africa Ventures, a venture capital fund focusing on early-stage investments in high-growth companies operating throughout Sub-Saharan Africa, has secured a capital commitment of $30 million from EIB Global, a subsidiary of the European Investment Bank. This substantial funding comes on the heels of an $8 million investment from French…
While chatbots are commonly used in assisting customers with routine inquiries, the genuine capabilities of Artificial Intelligence for African banks extend well beyond automated greetings and menu options. Though they have indeed paved the way for digital interactions, the horizon holds promises of personalized services, financial ecosystems, cross-border networks, gamified…
MTN Nigeria has been granted approval by the Nigerian Communications Commission (NCC) to partially disconnect Globacom due to non-settlement of interconnect charges. The approval was contained in a public notice issued by the apex regulatory body dated January 8 2024 and signed by Reuben Mouka, Director Public Affairs department. Even…
In a bid to revolutionise the international passport application process, the Nigerian government launched a new online portal for automated passport application in Abuja today. The new application process will make it convenient for applicants to book appointments, make payments and get a date for biometric data cpature from the…
Nigerian Fintech Cleva announced that it has raised $1.5 million in a pre-seed funding round led by 1984 Ventures, a San Francisco-based early-stage venture capital firm. Other participants in the round include The Raba Partnership, Byld Ventures, FirstCheck Africa, Y Combinator and several angel investors. Cleva joins Y Combinator’s winter…