Business

A collection of 361 posts

Business

Nigerian B2B Company, Vendease, raises $30 million Series A to launch operations across Africa

Nigerian business-to-business (B2B) online food procurement company, Vendease has raised $30 million Series A to expand its operations to other countries on the African continent. The funding which includes debt and equity financing is shared $10 million and $20 million accordingly. This Series A equity led by TLcom and Partech

Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank Partners Egypt’s Sympl to offer BNPL solutions to Debit Card Holders

Abu Dhabi Commercial Bank has announced a partnership with Sympl, Egypt’s foremost “Save Your Money Pay Later” platform, to provide buy now and pay later (BNPL) services to the bank’s debit card holders at a 10% discount on their purchases. Debit card users can now split payments on

Business

Egypt’s ZealPay, Launches Dara's Ice Cream App

ZealPay, a London-born, Cairo-based tech startup, has launched Dara’s Ice Cream app to customize rewards and seamless payment experiences for customers using world-class data and analytics to drive higher customer loyalty as well as increase brand loyalty and revenues for Dara’s Ice Cream. Dara’s Ice Cream intends

Business

Nigeria's Ticketing Platform, Tix Africa, Launches Box Office

Tix Africa, a Nigerian startup that offers the service of self-ticketing through its platform majorly for event creators, has officially launched its Box Office. This is a tool that does not require prior coding skills, allowing event creators to build a website and an online presence for all their events.

Bamboo

Bamboo partners with 10th Capital Investments, launches operations in Ghana

Nigerian online brokerage firm, Bamboo has announced its operations in Ghana through its partnership with 10th Capital Investments, a private Ghanaian equity firm. This partnership aims at enabling residents in the West African country to invest in foreign companies. Founded in 2020 by Richmond Bassey and Yanmo Omoregbe, the fintech

Business

YouScribe, an African-Focused E-Library, Records over a Million Subscribers across the Continent

YouScribe, a Paris-based digital library that offers a seamless reading experience to its users in France and over 11 African countries, has announced that it has reached a million subscribers across Africa. Juan Pirlot de Corbion, YouScribe’s founder and President said “Gaining a million subscribers so quickly in Africa

Business

MultiChoice Slashes Prices for DSTV Streaming-only and Showmax Pro

The cost of DSTV streaming-only subscriptions will be reduced, according to a statement from MultiChoice, effective right away. At the company’s annual media showcase on Thursday, MultiChoice South Africa CEO Nyiko Shiburi made the pricing reductions official. At the end of 2020, MultiChoice launched its own streaming service, DSTV

Business

Rechi, a Taiwanese Manufacturer, Partners With El-Araby Group to Build a $33M AC Factory in Egypt

Rechi, a Taiwanese manufacturer, is partnering with El-Araby Group, an Egyptian-based home appliances dealer, to build a $33 million air-conditioning compressor factory with a production capacity of 6 million compressors annually, with operations expected to begin in 2024, according to a statement from Egypt’s Ministry of Trade and Industry.

Business

South Africa's Blue Label Telecoms Secures Cell C Restructuring Deal

To improve its finances and liquidity, South Africa’s Blue Label Telecoms announced on Thursday that it has reached an agreement to restructure and refinance mobile operator Cell C’s 7.3 billion rand ($411 million) debt. A crucial and final element in Cell C’s rescue plan, which also

Business

YouTube to give 45% of ad revenue to 'Shorts' creators

Creators of YouTube Shorts will soon be able to monetize their short-form videos thanks to an announcement from the Google-owned platform that it will add advertising to Shorts and offer creators 45% of the ad revenue. According to Gadgets360, YouTube’s move comes amid escalating TikTok competition. The 45% to

Business

Lucky and City Edge Partner to Provide Customers with Digital Payments Options

Lucky Egypt, a fintech startup that offers financial services, credit products, offers, and cashback rewards to Egyptians and indeed the entire Middle East region through its App has today signed a cooperation partnership with an Egyptian real estate developer, City Edge. Under this partnership, City Edge’s customers will be

Business

Jumia Opens Integrated Warehouse In Nairobi

Africa’s leading eCommerce startup, Jumia, has newly opened an integrated warehouse in Nairobi, Kenya, one of its East African locations. It is believed the opening is made to boost its customer’s shopping experience. The warehouse was also established to assist the company to evolve its Jumia Express Operations

Africa

Byld Ventures raises $15 million fund to back fintechs in Africa

Early-stage investment firm, Byld Ventures has announced its new close of $15 million fund launched in May 2022 to support fintechs in Africa. This comes after the fund reached its first close in June and its second close at $10 million in August. The fund is backed by the Dubai

Business

Chat Commerce platform, Clickatell partners with CBN to enable offline banking

Chatting commerce platform, Clickatell has announced in a press release on Monday about its partnership with the Central Bank of Nigeria (CBN). The partnership is geared towards the e-Naira Central Bank Digital Currency (CBDC) in order to ensure financial inclusion to Nigerians by launching a USSD channel. E-Naira, also known

Business

Chefaa and Neqabty Partner to allow their Customers to Seamlessly Order all their Medicine and pharmacy Needs

Chefaa, an Egyptian-based healthtech startup, has announced a strategic partnership with Neqabty, a Fintech community-based solution aimed at bridging the gap between syndicates and their members by automating their services and empowering them with various payment solutions via an accessible platform. The partnership provides NEQABTY users with a new way

5G

MTN partners with Ericsson, pioneers 5G launch in Nigeria

In a press release on September 19, leading US 5G network provider, Ericsson has revealed its partnership with South African telecommunications company, MTN to collectively launch 5G network in Nigeria. This follows MTN’s successful commercial launch in Lagos, a day prior to the partnership announcement. As stated in the

5G

Telecom Company, MTN launches commercial 5G in Nigeria

South African telecommunication company, MTN has rolled out 5G commercial services in Lagos, the commercial capital of Nigeria on September 18 at an event. This follows the announcement by the company on August 24, 2022 that it had begun its pilot test in Lagos and six other cities. Other target

Business

Lagos-French government to set up E-sports in bilateral agreement

Governor of Lagos State, Babajide Sanwo-Olu has signed a memorandum of understanding (MoU) with the French government on Friday through its ambassador to Nigeria, Mrs Emmanuelle Blatmann to enable professional electronic sports (E-sports) players to engage in real-time virtual communities while encouraging youth participation in the state. The MoU was

Business

MTN Building Private 5G Networks for Mines and Ports

According to the Sunday Times, MTN is constructing private 5G networks for 14 businesses in South Africa’s mining and port industries. These networks will give the businesses assured capacity and coverage for their operations. Private networks, according to Charles Molapisi, CEO of MTN South Africa, are an “interesting” area

Amazon

Amazon to Expand Across Egypt

Amazon Egypt, the Egyptian branch of the world’s leading e-commerce company, Amazon, is ramping up plans to expand its operations throughout Egypt. The plan was revealed during a meeting between Mohamed Abdel Wahab, CEO of the General Authority for Investment and Free Zones (GAFI), and Omar Al-Sahy, Director-General of

Bootcamp

Huawei Cloud to enable 10,000 Startups through its Huawei Cloud Accelerator

At its Global Startup Founders Summit in Shenzhen, Huawei Cloud declared its dedication to creating a global startup ecosystem (Huawei Cloud Accelerator) that will hasten the expansion of the ICT industry. Over the next three years, it is anticipated that this ecosystem, which consists of three core projects, will support

Business

Cameroonian Startup, Mungenow Launches a Verified Guest House-Booking Platform

Mungenow Technologies, a Cameroonian-based startup, has launched a guest house-booking platform with listings across the Cameroonian cities of Buea, Limbe, Douala, Yaounde, and Kribi, to connect travelers across Cameroon’s major cities and eventually the rest of Africa to find verified, affordable and reliable accommodation during their trip, as well

Business

SafeSenda Launches Easy-To-Use Crypto Conversion App

SafeSenda, a Nigerian startup has launched a mobile application that eases the ability to manage, convert exchange, settle and spend cryptocurrencies and even hold it in a naira bank account. Co-founded in early 2022, by Ikechukwu Ukaegbu and Nkechi Iyke-Ukaegbu the launched app makes managing and converting digital assets (crypto)

Business

Ghanian Health-tech, mPharma Buyout Nigerian Pharmacy Chain, HealthPlus

Ghanian Health-tech startup, mPharma, has acquired one of Nigeria’s largest pharmacy chains, HealthPlus. This development was revealed by mPharma’s Co-founder and CEO, Gregory Rockson, in an interview with Journalists. mPharma is one of Africa’s leading health-tech. mPharma had gone into contract with HealthPlus previous investor, Alta Semper,

Business

Rain Announce Plans to Launch Mobile 5G by 2023

In the upcoming year, Rain intends to release a mobile 5G solution, according to Johan van Zyl, co-CEO of shareholder African Rainbow Capital (ARC). During an interview with MyBroadband, Van Zyl also revealed further information regarding Rain’s aspirations to expand its fixed 4G and 5G capabilities. He clarified that