The Republic of Togo and the United Nations Economic Commission for Africa (ECA) have signed a memorandum of understanding (MOU) to collaborate on establishing the “African Center for Coordination and Research in Cybersecurity”. As a central regional hub for cybersecurity information and intelligence based in Lomé (Togo), the center will…
Author: Oluwasegun Olukotun
Liquid Intelligent Technologies has completed the acquisition and delisting of Telrad, an Israeli-based technology company. Liquid in May disclosed it had reached a definitive agreement to acquire the Israeli-based company. With presence in 13 countries across the Middle East, South America, United Sates, Eastern Europe, Asia, Telrad provides high-quality technology…
American company Sun Africa and the Nigerian government have entered into an agreement to install solar energy production systems in some communities underserved by the national electricity grid. The project will be executed with a financial injection of a $1.5 billion loan from Exim Bank. About 85 million Nigerians do…
MTN Nigeria is rolling out a new data bundle tailor-made for micro small and medium enterprises (MSMEs) that want access to free business capacity-building content but cannot afford the data required to do so. The telco giant acknowledging the benefits of knowledge and information to growing businesses and the challenge for small…
Egypt-based foodtech startup BONBELL has raised $350,000 from a Canadian angel investor. BONBELL which was founded in 2022 by Doaa Abdel-Hameed offers a cloud-based online food ordering and delivery system, enabling restaurant managers to handle dine-in orders, table reservations, and curbside delivery. The startup will use the funds raised to…
InfraCo Africa, the African development arm of the Private Infrastructure Development Group (PIDG) has committed a $43 million anchor investment into Climate, Energy Access and Resilience (CLEAR), a climate-focused fund advised by Helios Investment Partners (Helios). Armed with a portfolio of $350 million, the financing facility seeks to invest in…
Verdant Capital has raised USD 10 million of debt funding for Zeepay. The medium-term debt raise, which forms part of its A.5 series, comes to support Zeepay in a bid to augment its fast-growing remittance to wallet business. The debt funding is intended to support the rapid growth of the business. …
West Africa’s pioneer solar-based internet and voice service provider, Tizeti has expanded its operations within Nigeria and Ghana, and into new neighboring Cote d’Ivoire and Togo in line with its commitment to bridge the digital gap in Africa. Tizeti also launched new connectivity offerings, Tizeti Turbo Connect, which provides up…
Egypt-based OneOrder, a B2B e-commerce startup catering to the restaurant and hospitality sector, has signed an investment agreement worth $6.5 million with Contact Factoring, a subsidiary of Contact Financial Holding. Founded by Tamer Amer, OneOrder launched earlier this year after securing $1 million in Seed funding. It helps restaurants and…
Nigeria’s leading provider of business application and data management solutions, Bluechip Technologies, has launched operations in Europe following growing demand for its products and services. The strategic expansion positions the company as a new competitive entrant in the EU market offering data warehousing and analytics products as well as highly…
Telecom operator Bharti Airtel has struck a deal with Nokia for 5G deployment. The new multi-year deal follows the just concluded 5G spectrum auctions and allocation of pan-India spectrum to Bharti Airtel, supporting their ambition to take India into the 5G era. As part of the deal, Nokia will make…
Logitech G and Tencent Games are collaborating to bring a cloud gaming handheld to market in the latter part of 2022. The partnership will produce a synergy of Logitech G’s expertise in hardware with Tencent Games’ expertise in software services. The new device will support multiple cloud gaming services, and…
Leading global supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms Semtech Corporation is set to acquire Sierra Wireless, a world-renowned Internet of Things (IoT) solutions provider for $1.2 billion. Semtech will acquire all outstanding shares of Sierra Wireless for US$31 per share in an all-cash transaction subject to…
Africa’s Neobank 4G Capital powering micro and small business growth in Africa has gone live on Mambu’s leading cloud banking platform. 4G Capital grants unsecured business loans along with enterprise training and access to digital solutions. Mambu’s platform will enable the neobank to scale and expedite its digital journey to…
Pan African Early-stage VC firm, Oui Capital has secured the first close of its $30 million second fund, Oui Capital Mentors Fund II. Investors that participated in the funding included Angur Nagpal’s Vibe Capital, D Global ventures, Boston-based One Way Ventures, and Ground Squirrel Ventures. The round also had individual…
The Africa’s Business Heroes (ABH) Prize Competition has announced the top 50 finalists for its 2022 edition. The ABH is a philanthropic program established by the Jack Ma Foundation to spotlight and support African entrepreneurs. This year, the competition received more than 21,000 applications and saw applicants from across all 54…
Egypt’s transport and mobility solutions provider SWVL has aborted its planned acquisition of Zeelo, a UK-based B2B smart buses operator. SWVL in April announced plans to acquire Zeelo for $100 million. Zeelo was founded in 2016 by Sam Ryan, Barney Williams and Dani Ruiz and is the UK’s largest smart bus platform and technology…
Egypt-based furniture and home supplies marketplace Homzmart has raised a $23 million pre-Series B round from STV, Impact46, Outliers Ventures, Rise Capital, and NUWA Capital. The company, launched in 2020, will use the new funding to expand services, especially logistics, and fill gaps that appear in supply chains. The latest…
Egypt-based VC firm Openner has launched Qurious Labs, a Web3-focused venture studio, to help develop markets and aid them to access the global technology, talent and capital pool. Founded in 2017 by Ashraf Rofail, Openner is a VC focused on early-stage startups. Qurious Labs is the first Web3-focused Venture Studio…
Genser Energy has secured an 8-year USD425m funding package to boost the expansion of its energy projects in Ghana. The fund comprises a syndicated senior loan facility of USD325m and a USD100m mezzanine loan facility. The senior loan facility was financed by a consortium of regional & commercial international banks,…