Information Technology (IT) News

Lidya

Leading Nigerian fintech startup Lidya closes $1.25M seed funding round

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.

Lamin Manjang, Chairman of the Kenya Bankers Association (KBA)

Kenya sets sights on green bonds after mobile phone issue

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.

Kenya Electricity Transmission Company plans to become internet service provider

Kenya Electricity Transmission Company plans to become internet service provider

The Kenya Electricity Transmission Company (KETRACO) has announced plans to venture into the internet service provision business.

Lagos, Nigeria

Lagos is Africa's most valuable startup ecosystem

Lagos has the most valuable startup ecosystem in Africa, with the local entrepreneurship scene worth US$2 billion, according to a new report.

Kenya to offer mobile-only bond to investors

Kenya to offer mobile-only bond to investors

Kenya will start selling a mobile-phone based government bond this week, the Treasury said on Tuesday, the culmination of a lengthy plan to tap a new pool of investors into government securities.

Khanyi Dhlomo, Founder, Ndalo Media: The biggest enabler for African success is actually not necessarily external: Credit: Red Photographic/WSJ

How to encourage innovation in Africa: Khanyi Dhlomo, Ndalo Media Founder & Ashish Thakkar, Mara Group Founder

Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it.

Kenya telecoms regulator says has no intention to split company. Credit: qz.com

Kenya telecoms regulator says has no intention to split Safaricom

Kenya’s telecoms regulator said on Tuesday it had no plans to break up any company in the sector.

Ebenezer Asante, CEO, MTN Ghana. Credit: marcopolis.net

MTN Ghana prepares for IPO in 2017

MTN Ghana aims to complete preparations to list its shares on the Ghana Stock Exchange (GSE) in 2017.

Bob Collymore, CEO, Safaricom

Vodafone slams proposed split of Kenya's M-PESA as 'ridiculous'

Safaricom Ltd, East Africa’s biggest mobile-phone company, would have to reconsider future investment in Kenya if proposals to break up the company are implemented.

Mteto Nyati, outgoing CEO, MTN South Africa

MTN South Africa's CEO Mteto Nyati resigns, to be replaced by Motsa

Africa’s biggest mobile phone operator MTN Group said on Tuesday that Mteto Nyati, the chief executive of its South African unit, will be resigning in March and will be replaced by Godfrey Motsa on the same day.

Private equity firm TA Associates announces minority investment in Interswitch

Private equity firm TA Associates announces minority investment in Interswitch

TA Associates, a leading global growth private equity firm, announced on Monday it has acquired a minority equity interest in Interswitch, an Africa-focused integrated digital payments and commerce company.

Safaricom faces break-up call from Kenyan lawmaker

Safaricom faces break-up call from Kenyan lawmaker

A Kenyan lawmaker proposed breaking up Safaricom, the country’s biggest telecoms operator, on Tuesday because of its role in providing mobile financial services.

Cyril Collon, General Partner, Partech Ventures

African tech startups raise record-breaking $370M in 2016: Partech Ventures (Infographic)

At Partech Ventures, we have been tracking for the past 3 years the dynamics of African tech investment, to better understand the investment landscape on the continent.

Nigeria's leading hotel booking company Hotels.ng launches flight bookings

Nigeria's leading hotel booking company Hotels.ng launches flight bookings

Hotels.ng, Nigeria’s leading hotel booking company has rolled out a new service – online flight bookings – on its website.

Nigeria says telcos must list on stock exchange

Nigeria says telcos must list on stock exchange

The Nigerian government says telecommunication companies operating in Nigeria must quickly conclude plans to get listed on the Nigerian Stock Exchange (NSE) or face regulatory penalties from their compliance failures.

Cape Town was the most important destination in 2016 for startup investments in Africa

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable wifi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

Nic Rudnick, CEO, Liquid Telecom

Pan-African Liquid Telecom Group has completed the $500M purchase of South Africa's Neotel

South African communications network operator Neotel has officially become part of the pan-African telecoms group Liquid Telecom.

Orange Seeks Africa Deals as Wireless Carrier Eyes Expansion

Orange Seeks Africa Deals as Wireless Carrier Eyes Expansion

Orange SA is seeking deals in Africa as France’s biggest wireless carrier targets the continent as a source of additional revenue growth, according to a company official.

Who takes the throne? Credit: qz.com/HBO

ShowMax is stepping up its pan-African battle with Netflix by putting servers in Kenya

In the battle to become the preferred video content streaming service by a majority of Africans, content servers are the weapon of choice.

Bastian Gotter, Co-Founder, iROKO Partners

iROKOtv Co-Founder Bastian Gotter leaves the company to invest in African startups

Bastian Gotter is the Co-Founder of iROKO, the VC-backed African entertainment and tech company that has single-handedly changed the face of Nollywood content distribution.

Wizkid signed with Sony Music last year

Sony Music seeks Nigeria streaming growth to build on ringback market

Sony Music Entertainment sees big growth prospects for music streaming in Nigeria, thanks to falling internet data costs and a large, growing population, a senior executive told Reuters.

Investment in Africa's tech start-ups on the rise

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable Wi-Fi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

South African courier WumDrop is tackling address challenges by delivering parcels to your phone location.

How could Amazon deliver without an address? This startup may have the answer

South African courier WumDrop is tackling address challenges by delivering parcels to your phone location.

A Jumia office: In 2016, Jumia became Africa's first "Unicorn". Credit: qz.com/Reuters/Akintunde Akinleye

Here's what could happen if Africa's top mobile operators and start-ups work together

Telecom operators across the African continent continue to face significant risks when it comes to revenue growth.

Kola Aina, Founder, Ventures Platform. Credit: linkedin.com

Betting on Africa's future: Kola Aina, Founder, Ventures Platform

Last year, we decided to experiment with “organized early stage investing” in African technology companies.

More Nigerians are embracing electronic payments

More Nigerians are embracing electronic payments (Infographics)

Five years after Nigeria’s Central Bank (CBN) launched its Cash-less Nigeria project to reduce the amount of physical cash circulating in the economy, it is finally catching on.

Kelechi Anyadiegwu, Founder & CEO, Zuvaa. Credit: good.is

How one 26-year-old turned $500 into $2 million online (Photos)

What started with a compliment turned one young woman’s idea into a million dollar business. When Kelechi Anyadiegwu started her online African clothing store Zuvaa with $500 two years ago, her idea was to share African-inspired designs with consumers around the world.

First Bank of Nigeria ATMs

How Nigeria's banks are innovating

Nigeria’s relatively significant exposure to the oil and gas sector increased pressures on balance sheets and operations.

Bob Collymore, CEO, Safaricom

Safaricom's M-PESA has Kenya's government worried what happens in the event of a crash (Infographic)

At the time of M-Pesa’s launch in 2007, few could have conceived the mobile money service would be as ubiquitous and deeply entrenched in the lives of millions of Kenyans as it is today.

SafariCity, Arusha, Tanzania

Check out 5 futuristic African cities that will take the tourism industry by storm (Photos)

Africa is seen to take up the tech challenge by investing billions of dollars in the development of tech futuristic cities.

Here are 7 predictions for the African tech startup space in 2017

Here are 7 predictions for the African tech startup space in 2017

It has long been known that e-health has tremendous potential to make the delivery of healthcare in Africa more efficient. It is now becoming clear that this will be in the diagnostics space.

Reed Hastings, CEO, Netflix

A new Netflix server in Nigeria will deliver faster streaming and content to its African users

News of Netflix’s expansion to Africa (and pretty much the rest of the world) in January was met with excitement on the continent.

Raphael Afaedor, Co-Founder & CEO, Supermart.ng. Credit: NdaniTV

How former Jumia MD is selling groceries online in Nigeria

Lagos’s infamous back-to-back traffic can turn a simple trip to the grocery store into a time-consuming ordeal.

Shola Adekoya. CEO, Konga

Why Konga could be Africa's answer to Amazon: Shola Adekoya, CEO, Konga

Konga.com was founded in July 2012 and started purely as an online retailer selling baby and beauty products.

iHub

Africa's tech hubs

Innovation hubs have become a mainstay of Africa’s emerging technology ecosystem.

Africa's banker of tomorrow

Armed with fintech and fueled by data: Africa's banker of tomorrow

Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.

Kenyan banks want a bigger share of the mobile money action. Credit: qz.com/Reuters/Thomas Mukoya

Kenyan banks are closing in on what they think will be the perfect M-PESA disruptor (Infographic)

Early next year, Kenyan banks are expected to unveil a digital and mobile money transfer platform to rival M-Pesa’s longstanding dominance as the scramble for cashless payments intensifies.

Nigerian Fintech Startup Paystack Raises $1.3 Million

Nigerian Fintech Startup Paystack Raises $1.3 Million

Paystack, one of Nigeria’s most hotly anticipated tech start-ups, has just secured $1.3M Seed investment from both international and homegrown investors.

The race to fix Nigeria's payments problem just received a big boost

The race to fix Nigeria's payments problem just received a big boost

Making online transactions is a process taken for granted as one of the natural offshoots of deeper internet penetration.

Nic Rudnick, CEO, Liquid Telecom

Liquid Telecom buys Neotel for $466M to form Africa's largest fiber network

Africa’s largest fiber network will be formed as Liquid Telecom buys South African converged network operator Neotel.

Africa Offers Big Potential for Streaming Video

Africa Offers Big Potential for Streaming Video

When the pan-African VOD platform Buni.tv launched in 2012, the Nairobi-based company was one of the first to recognize the untapped potential of the online market on the continent.

Bob Collymore, CEO, Safaricom

Safaricom in talks with five firms on M-PESA's future

Mobile service provider Safaricom has announced that it is in discussions with five companies to broaden the availability of M-PESA services.