If you follow the right accounts for young African tech entrepreneurs on Twitter, it can feel like there’s a never ending debate about who gets funding or not in Africa.
Over the last 15 years, Africa has seen significant mobile telecoms growth and now data is being viewed as the ‘new oil’ on the continent.
Chairman Koos Bekker countered criticism Naspers Ltd. relies too heavily on its $132 billion stake in Chinese media company Tencent Holdings Ltd. by reminding investors that they would have been a lot poorer if he’d given in to similar pressure to sell the holding years ago.
Nigerian lenders will try to stabilise the business of 9mobile, the country’s fourth largest telecoms group, until they can find new investors.
Safaricom Ltd. of Kenya plans to introduce an e-commerce platform within eight months targeting formal retail and informal online trading in East Africa’s biggest economy.
Flutterwave, which provides modern payments infrastructure for banks and businesses to make and accept payments across Africa, announced on Monday that it has raised over $10 million in a Series A round of funding.
Aboyeji is the Co-Founder of Flutterwave, a payments API that makes it easier for banks and businesses to process payments across Africa.
Virgin Mobile and Vodacom, as well as Bua Group, are among companies interested in acquiring 9mobile, formerly Etisalat Nigeria, according to ThisDay.
Telecoms group 9mobile is open to new investors but will continue to manage the business in the meantime, its chief executive said on Wednesday at an event to officially announce the company’s new name to replace Etisalat Nigeria.
Nigeria’s telecoms regulator has approved Etisalat Nigeria’s name change after its Middle East parent pulled out following regulatory intervention to save the local company from collapse due to debt.
Sub-Saharan Africa is, and will continue to be, the fastest growing mobile market in the world.
South Africa is considering a merger of state-owned technology companies Broadband Infraco and Sentech to help to accelerate the rollout of high-speed internet to the population within three years, according to two people familiar with the matter.
Etisalat Nigeria is focused on getting the telecoms group back on track to make a profit after it was saved from collapse, while working on the paperwork to eventually raise new capital.
Amazon Web Services is hoping to build cloud data centers in South Africa – an expansion was strongly hinted at by CTO Werner Vogels during the recent AWS Summit in Cape Town.
Liquid Telecom, an unlisted pan-African telecoms group, has raised $700m in a bond and term-loan issue that will help it refinance debt and provide a war chest for further acquisitions.
While many fear investing in Africa, one woman has not been afraid of doing so. Funke Opeke is the Founder and CEO of one of the continent’s largest ICT companies, MainOne.
Orange Telecom and Vodafone are seeking to purchase 65 percent of Etisalat Nigeria following the departure of the UAE-based Etisalat Group from its Nigerian business, reports Brandish citing unnamed sources.
Nigeria-based Tizeti, a WiFi service provider, has secured $2.1 million in seed funding. The investors included Western Technology Investment, Social Capital, Vy Capital, Picus Capital, Ace & Company, Lynett Capital Partners and Zeno Ventures.
Ghanaian tech startup, OMG Digital, has raised seed funding of $1.1 million from international investors.
South Africa’s Naspers (NPNJn.J) does not plan to spin off its $114 billion stake in Tencent, its boss said on Monday, a push back against investors urging a break-up to close a widening discount between its market value and that of its one-third stake in the Chinese internet company.
Naspers Ltd. will approach investors in the U.S. and the U.K. this about a bond issue as Africa’s biggest company by market value continues its acquisition-hungry quest to expand its internet businesses.
Silicon Valley’s days leading the tech revolution may be coming to an end, according to one optimistic observer who believes the future of technology lies much further abroad than San Francisco.
Kenya has the world’s 14th-fastest mobile internet speed, according to a report from the content delivery network Akamai.
The Peter Drucker management aphorism, “You can’t manage what you can’t measure,” is a favorite of Yannick Lefang, the founder of Kasi Insight, an integrated marketing research firm operating in seven African countries.
M-Pesa, the mobile money system that is the pride and anchor of Kenya’s homegrown technology community, has had plenty of hype and excitement since its 2007 launch.
Zimbabwean billionaire Strive Masiyiwa’s Econet Wireless Global Ltd. unit Liquid Telecom has appointed former Vodafone Group Plc executive Kyle Whitehill to head up South African internet provider Neotel and oversee the company’s expansion plans.
Convergence Partners recently signed an agreement with Google, the International Finance Corporation (IFC) and Mitsui & Co., Ltd. (Mitsui) to invest in CSquared, a broadband infrastructure company headquartered in Nairobi, Kenya.
It was only a year ago that Uber declared that its Lagos market was potentially bigger than its London market.
Microsoft will soon deliver cloud services from datacenters located in Cape Town and Johannesburg, South Africa.
MTN is in talks on a potential acquisition of pay-TV provider MultiChoice Africa, MyBroadband reports citing industry sources.
On the internet, Nigerians are opting for more global identities through web addresses.
Southern African telecoms giant Vodacom Group will buy a 34.94% stake in Kenyan operator Safaricom – known for its ground-breaking M-Pesa mobile money system.
Safaricom is planning to take its successful mobile money service M-Pesa across Africa after building a dominant home base in Kenya and presence in its East African neighbors.
Africa’s startup boom is moving into the used-vehicle space. Nigeria based Cars45.com raised a $5 million Series A round from the Frontier Cars Group, a holding company whose backers include Balderton Capital, EchoVC, TPG Growth, and NEA.
First-quarter sales rose 7.1 percent boosted by Nigeria and Iran. Carrier still has ‘work to do’ to meet full-year targets
Higher-paid African expatriates sending cash to home countries. Money-transfer company has Facebook backer Accel as investor.
Lidya, a leading fintech platform based in Nigeria, announced in late March that it has closed a US$1.25 million seed funding round to further its mission of easing access to finance for small and medium enterprises (SMEs) across Africa.
Kenya aims to issue its first ‘green’ bond this year, the initiative’s backers said on Friday, bolstering the nation’s reputation for financial innovation after the government launched the world’s first mobile phone bond earlier this month.
The Kenya Electricity Transmission Company (KETRACO) has announced plans to venture into the internet service provision business.