IHS Holding Limited, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, has completed the acquisition of 5,701 towers in South Africa from Mobile Telephone Networks Proprietary Limited (“MTN SA”). As part of the agreement, IHS Towers is also providing…
Author: Oluwasegun Olukotun
Binance Labs, the venture capital and incubation arm of Binance, announces the closing of a new $500 million investment fund. The fund is supported by leading global institutional investors such as DST Global Partners, and Breyer Capital. Other major private equity funds, family offices, and corporations also subscribed to the…
UAE-headquartered foodtech startup Grubtech has announced its expansion to Egypt, planning to invest $5 million into operations over the coming 12-16 months. Founded in 2019 by Mohamed Al-Fayed, Omar Rifai, and Mohamed Hamedi, Grubtech offers an omnichannel point of sale (POS) solution, enabling restaurants and cloud kitchens to streamline their…
Egypt-based q-commerce Appetito has acquired Tunisia’s Lamma to expand operations in Morocco, Tunisia, and West Africa for an undisclosed amount. Founded in 2020 by Shehab Mokhtar, Appetito delivers thousands of grocery and household products through its mobile app to customers from dark stores across 3 cities in Egypt. In parallel,…
Qatar as it gears up to host the FIFA 2022 World Cup showdown later in the year is hosting the Middle East’s first metaverse FIFA gaming tournament to enable fans all over the world to see the top FIFA players compete for the EA Sports FIFA 22 Champions Cup. The…
Titan Trust Bank Limited (TTB) on Monday completed the acquisition of a majority equity stake of 89.39 percent in Union Bank of Nigeria (UBN). The Nigerian Exchange (NGX) reported that a total of 27.34 billion ordinary shares of UBN were swapped in block divestment. A total of 19 cross deals…
MultiChoice has announced that it has completed the installation of its Dolby Atmos-enabled production suite, housed at its broadcast centre in Randburg. Dolby Atmos is a surround sound technology that goes beyond the ordinary listening experience to deliver unparalleled clarity and depth. The new production suite unlocks business benefits for…
Egypt-based micro VC fund the Cairo Angels Syndicate Fund (CASF) has invested an undisclosed amount in the South Africa-based fintech startup, Finclusion Group. Founded in 2019 by Timothy Nuy, Finclusion Group is an African-focused fintech platform building out a full neo bank offering for its users. Today, Finclusion Group provides…
Egypt’s mobility startup SWVL today announced plans to reduce its workforce by 32 percent. The company also disclosed that it is implementing a portfolio optimization program to enhance efficiency and reduce central costs to accelerate its path to profitability to turn cash flow positive in 2023. Swvl’s Transport as a…
Algorand has invested an undisclosed amount in digital identity startup FlexID to further develop and scale its Self Sovereign Identity (SSI) platform. The startup aims to make its decentralized digital identity network available in emerging markets where over one billion people are thought to lack formal identification. The funding from…
American online non-fungible token (NFT) marketplace OpenSea has announced updates to improve user experience for its OpenSea community. Shiva Rajaraman said, “we’re excited to reveal the first steps in a design refresh aimed at improving everyone’s OpenSea experience. Our first step includes upgrades to the look and feel of profiles…
Earlier this month, Gucci announced that it will start accepting cryptocurrency as a means of exchange. Another luxury fashion house Balenciaga has announced it is towing the same path. The luxury fashion house disclosed it is preparing to accept cryptocurrencies as a payment option for its American clients. Starting next…
Stripe, a financial infrastructure platform for businesses, today launched Stripe Apps and the Stripe App Marketplace. Stripe Apps addresses a fundamental challenge for growing businesses and meets a top request from Stripe users. Stripe Apps allows businesses to simplify operations and combine fragmented workflows. For example, using the Intercom app…
The Nigerian government has signed a 3-year exclusive IPR (intellectual property rights) agreement with Developing Africa Group to launch a nationwide wallet that will enable the international commercialization of all IP forms being created and registered within the country, both locally and internationally. In this context, the IPR exclusivity agreement…
Oppo in collaboration with hackathon expert HackHub has launched the OPPOHack 2022. The OPPOHack 2022 is an international hackathon that brings together a community of tech enthusiasts and innovators to tackle real-world problems through emerging technologies: Enhanced Visualization, Efficient Computation, and Unhindered Cross-device Connection. OPPO is driven by the vision…
Switzerland-based Crypto Valley Venture Capital (CV VC) has launched an Africa-focused early-stage fund to support blockchain startups in the continent. This was made known by the investor on Monday at the Blockchain Hub adjacent to the World Economic Forum in Davos, Switzerland. CV VC is an early-stage venture capital investor with…
Intel has teamed up with Meta and Vega Studio to launch Facial Messaging, an Instagram augmented reality (AR) effect that allows the social networking service’s users to compose a message video using simple facial movements, and then share the video on Instagram on Stories and Reels. The companies created this…
Mastercard and fintech giant OPay have entered a strategic partnership to drive wider financial inclusion and boost economic prosperity by opening up digital commerce to millions of people across the Middle East and Africa. The collaboration enables OPay consumers and merchants in the region – including Algeria, Morocco, Egypt, Nigeria,…
Smart Africa Digital Academy (SADA) in partnership with Ghana’s Ministry of Communications and Digitalisation has launched a national digital academy in Ghana, marking the official commencement of in-country implementation of the initiative. SADA is Smart Africa’s capacity-building arm. The agreement is contained within a Memorandum of Understanding (MOU) signed today…
TikTok today launched Branded Mission, an industry-first ad solution that enables advertisers to crowdsource authentic content from creators on TikTok, turn top-performing videos into ads, and improve brand affinity with media impressions. This new form of two-way engagement between brands and creators enables the TikTok community to have a creative…