Author: Akin Naphtal

Raxio Group, Africa’s largest independent data centre platform, has raised its committed capital above US$380 million after major shareholders Roha and Meridiam boosted their investments to fuel the company’s rapid expansion. The fresh equity injection comes as Raxio reports a remarkable sixfold surge in contracted capacity during the first half of 2026 compared to the same period last year. The additional funding increases the company’s capital base from US$350 million, building on a US$100 million financing package secured from the World Bank Group’s International Finance Corporation (IFC) last year, supplemented by debt from Proparco and the Emerging Africa & Asia…

Liquid Intelligent Technologies has appointed Bernard Beya as the new Chief Executive Officer of its operations in the Democratic Republic of Congo (DRC). The appointment marks a significant leadership transition for the company, a key player in digital infrastructure and connectivity across Africa and part of the global technology group Cassava Technologies. Beya, who has been serving as Acting CEO since November 2025, brings extensive industry experience to the role. Sutha Siva, Executive Vice President and Group Chief Operating Officer at Cassava Technologies, welcomed the appointment, stating: “The DRC represents one of the most exciting growth opportunities in our region,…

Africa’s successful integration into the global AI revolution must begin with smartphones, connectivity, and genuine inclusion rather than algorithms alone, Ayman Essam, Chief Officer for External Affairs at Vodacom Group has said. Essam delivered this message while participating in the prestigious United Nations International Telecommunication Union (ITU) AI for Good Global Summit in Geneva. The summit is widely regarded as one of the most important global platforms for shaping AI governance and policy. Essam highlighted two critical insights that should guide Africa’s AI strategy going forward.First, he emphasised that AI infrastructure starts with people, connectivity, and devices. While innovation is…

The European Bank for Reconstruction and Development (EBRD) has signed a landmark financing agreement of up to €270 million with Yas, a fast-growing pan-African telecommunications company, to expand digital infrastructure and enhance connectivity across key African markets. The senior loan represents the EBRD’s first investment in Senegal and sets two historic precedents for the Bank in sub-Saharan Africa: its first local-currency financing and its first A/B loan structure in the region. The deal combines long-term funding with the mobilisation of institutional capital to support Yas’ ambitious growth plans. The financing package includes a committed facility of up to €170 million…

As organisations accelerate their adoption of artificial intelligence (AI), financial services firms are finding it difficult to keep up, with fragmented data emerging as a major obstacle to modernising customer loyalty programmes, according to new AND Digital research. The findings, published in AND Digital’s “Winning the Intelligent Customer” report, are based on a survey of 250 enterprise-level business leaders. The report highlights growing customer expectations for personalised experiences and the critical role of high-quality data in achieving them. Fragmented data was identified as the most common challenge, severely limiting the ability of firms to deliver seamless loyalty programme experiences. While…

Nscale, the fast-rising private AI data centre company, has closed a US$900 million revolving credit facility to accelerate its ambitious global infrastructure build-out across the United States, Europe, and Asia-Pacific regions. The facility, syndicated among a group of leading global financial institutions including J.P. Morgan, Goldman Sachs, Morgan Stanley, Deutsche Bank, and others, provides the company with flexible liquidity to support capital deployment and rapid scaling of its AI infrastructure. Nscale CEO and founder Josh Payne described the deal as a strong vote of confidence in the company’s strategy. “The closing of this revolving credit facility with key global investment…

VEON has entered into a strategic partnership with Mastercard to accelerate the rollout of artificial intelligence (AI)-powered digital financial services across emerging markets, reinforcing the growing role of telecommunications companies in driving financial inclusion. The collaboration will combine VEON’s extensive customer base, local digital platforms, and data capabilities with Mastercard’s global payments network and financial technology expertise to deliver a range of innovative financial solutions in Ukraine, Kazakhstan, Pakistan, and Uzbekistan. The initiative aims to expand access to financial services in markets where millions of consumers and small businesses remain underserved due to limited access to traditional banking. The partners…

Moniepoint Inc. Co-Founder and Group Chief Executive Officer, Tosin Eniolorunda, has said the rapid advancement of artificial intelligence (AI) is prompting a fundamental rethinking of human consciousness, arguing that the technology is forcing society to confront questions that were once confined to philosophy. In a post shared on his official LinkedIn page, Eniolorunda revealed that his recent reflections on AI have led him to examine the nature of consciousness, particularly as experts continue to debate whether artificial intelligence could one day become conscious. According to him, what stood out was not the question itself but the uncertainty expressed by many…

MTN Group President and CEO Ralph Mupita has been named as one of the founding commissioners on the AI for Good Global Commission, a new initiative by the United Nations’ International Telecommunication Union (ITU). The commission aims to expand digital access, strengthen trust, and accelerate economic impact through the responsible use of artificial intelligence. “It’s an honour to be one of the founding commissioners of the AI for Good Global Commission,” said Mupita. “At MTN Group we believe that the developments in AI have the potential to advance health, education, food security and industrial productivity. AI must be safe, ethical…

MTN Group has announced the appointment of Jerry Soko as the new Chief Executive Officer of MTN Eswatini. The appointment forms part of a series of leadership changes by the Group in the first half of the year as it advances its Ambition 2030 strategy. “Under Jerry’s leadership, MTN Eswatini has regained strong momentum, improving performance, strengthening operational discipline, and deepening customer engagement,” said Ralph Mupita, MTN Group President and CEO. “His track record, combined with his understanding of our operations, positions him well to lead MTN Eswatini into its next phase of growth.” Soko, a seasoned telecommunications executive and…