Author: Samuel Ige
“No roaming plans are available in Kenya at this time. Starlink is working to restore service in the disrupted areas and a notification will be sent once the residential plan is back,”
MTN Nigeria’s Billboard (Source: Alamy) MTN Nigeria has revealed its financial results for the past nine months ending September 30, 2024. Data showed that the telco’s net losses grew by more than 3335% year on year to N514.928 billion, according to details from the telecommunication company’s unaudited financial statement revealed. This loss spiked from N14.984 billion in the comparable period in 2023. On the other hand, this loss was followed by growth in voice, data, digital, fintechs and other services revenue in the period. The telecom company report also revealed that service revenue increased by 33.6% to N2.4 trillion at…
Moniepoint Inc. announced that it has successfully secured US$110 million in equity financing. Dubbed Africa’s fastest-growing fintech, it aims at using this funding to power the dreams of millions of businesses and customers across Africa and the globe. The Series C investment was led by Development Partners International’s African Development Partners (ADP) III fund, which is a premier fund focused on Africa. Other new investors include Google’s Africa Investment Fund and Verod Capital – a leading African private equity firm. Global impact firm, Lightrock, an existing investor, also participated. In this latest capital raise DPI, Google’s Africa Investment Fund, and…
70% of the total $200 million, or $140 million, will be allocated to Egyptian startups over the next four to five years.
Africa’s largest telecommunications company, IHS Towers has reportedly gotten a $439 million loan to manage currency risks and support its operations across multiple regions. According to reports, virtually half of the loan comes in South African Rand, while the other half is in USD ($255 million). Both parts of the loan come with a 4.50% interest rate. The US dollar portion is tied to the three-month SOFR (Secured Overnight Financing Rate), and the South African Rand portion is tied to the three-month JIBAR (Johannesburg Interbank Average Rate). These rates fluctuate with the volatility of the market, a development that could…
Yellow Card, founded in Nigeria in 2019, is a fintech company that operates in 20 countries and facilitates more than $3 billion in transactions across the continent
With its operations cutting across three continents, Sistema.bio boasts of positively transforming the lives of over 100,000 farms and more than 600,000 people worldwide while reducing over 1 million tons of CO2e emissions annually.
The Lapaire Brand Glasses Lapaire has landed funding from AfricInvest and Proparco to expand its area of influence. This development comes nine months after the startup raised $3 million to drive expansion across the continent. Proparco and AfricInvest together approved financing for Lapaire Glasses SA, an optical retail chain offering quality eyewear at a fair price in West and East Africa (Ivory Coast, Benin, Togo, Mali, Burkina Faso and Uganda). This funding comprises a €2.5 million contribution from AfricInvest and €450,000 from Proparco, facilitated through the Bridge by Digital Africa initiative. According to a World Health Organization report, an estimated…
The company’s decision to relocate aligns with its vision of supporting healthier lifestyles across the MENA (Middle East and North Africa) region, with plans for further regional expansion
This strategic appointment comes as M-KOPA, widely known for providing affordable smartphones and digital financial services to underserved consumers, seeks to expand its reach in emerging markets.