Author: Akin Naphtal

Pan-African operator MTN’s exit from West Africa looks underway after Guinea’s Post and Telecommunications Regulatory Authority (ARPT) closed the operator’s headquarters, according to local media reports. The regulator has accused the mobile operator of non-payment of taxes, fees, and license fees. The closure of MTN’s headquarters in Guinea comes as MTN Group plans to sell its Guinean subsidiary as part of a strategy to optimise its portfolio in Africa. The South African company has already received an offer from Axian Telecom and the proposed transaction also involves MTN’s subsidiaries in Guinea-Bissau and Liberia. The South Africa-based company has 291 million…

Akshay Grover has stepped down as Chief Executive Officer of Cellulant, the Kenyan-based payments company due to personal reasons. His departure from the firm is effective January 2024. “Grover has decided to leave to focus on personal matters,” the board shares in a statement. No further details about his departure have been revealed at the time of writing. Grover, who initially joined the payments company in 2021 as the Chief Financial Officer, was appointed CEO in the same year. He has held the CEO position for nearly three years. “Under his leadership, Cellulant has strengthened its position both on the…

Orbex has announced the appointment of Phillip Chambers as new CEO and Miguel Belló Mora as its executive chair, as it prepares to launch the first vertical rocket from the UK mainland. Phillip Chambers brings more than two decades of experience scaling technology companies – including Gumtree and Peakon – to the Orbex CEO role. Miguel Belló Mora joins Orbex as executive chair from the Spanish Space Agency, where he was director general. The appointments come at the beginning of a pivotal year for Orbex and the UK’s space sector. Private space companies including Orbex and Skyrora are planning to…

In a significant move to accelerate adoption of digitalized public services and increase the number of persons with a unique ID that facilitates inclusive access to public services, the Government of Gabon and the World Bank has signed $68.5 million loan for the Digital Gabon Project. The agreement was signed by Mays Mouissi, Gabon Minister of Economy and Participations, and Cheick Kante, World Bank Country Director for Gabon. The operation focuses on creating the enabling environment to accelerate digital transformation, by enhancing legal, regulatory, and technological foundations for data protection, cybersecurity, and securing data exchange within the public sector. It…

Pioneering Cameroonian startup, Koree, has successfully secured a pre-seed investment of $200,000, which Koree’s founder, Magalie Gauze-Sanga says would be used in expanding its merchant network, customer base, and achieving product-market fit. Backers of the investment include Tunde Akinnuwa, co-founder at Duplo, the Cameroon Angels Network, Catalytic Africa, Digital Africa, and several private investors. Koree’s innovative service seeks to address the challenge of handling spare change in cash-centric economies. The fintech company provides a solution through a card and digital wallet system, allowing merchants to issue digital change seamlessly. Additionally, Koree’s platform facilitates loyalty programs, enabling customers to accumulate cashback…

Japanese automaker, Honda Motor Co, has begun planning to build an electric vehicle (EV) plant in Canada to bolster its electric vehicle (EV) presence, according to reports from Japan’s Nikkei news group. The project, valued at nearly 2 trillion yen ($13.83 billion), could potentially incorporate in-house production of batteries, making it one of Honda’s most significant investments to date. While Honda has not officially commented on the reports, Canada’s industry minister’s office has acknowledged the potential investment, highlighting it as a testament to the country’s skilled workforce and robust industrial sector. The statement lauded Canada’s reputation as a preferred green…

The BRICS group of emerging markets has officially welcomed five new nations, namely Saudi Arabia, Iran, the United Arab Emirates (UAE), Ethiopia, and Egypt, into its fold as of 1st January 2024. This expansion follows an invitation extended by the existing BRICS members, Brazil, Russia, India, China, and South Africa, to six other nations in August 2023, aimed at fostering increased collaboration and economic influence among major emerging economies. Established in 2009, BRICS has become a vital platform for enhancing cooperation and coordination among its member nations. The inclusion of Saudi Arabia, Iran, the UAE, Ethiopia, and Egypt is expected…

The Nigerian Central Bank’s ban on cryptocurrency transactions, imposed in 2021 over money laundering and terrorism financing concerns, has now been lifted, paving way for renewed crypto activities in Nigeria. The Central Bank of Nigeria (CBN) is not merely lifting restrictions, but is also actively engaging with the crypto space. Embracing the technology while addressing regulatory concerns, the CBN has introduced new measures, with the most notable being the development of a stablecoin pegged to the Nigerian Naira. The stablecoin, named cNGN, is set to launch later in January and is designed to mirror the value of the fiat currency.…

South Africa’s SuperSport will not be airing the Africa Cup of Nations (AFCON), after losing the tournament’s broadcasting rights to New World TV (NWT), in what CAF president, Patrice Motsepe calls “a mega deal that no other broadcaster could match.” SuperSport, which is owned by Multichoice, has traditionally played a vital role in building hype and excitement around AFCON. However, NWT’s acquisition of hosting rights for both AFCON 2023 in Ivory Coast and 2025 in Morocco introduces fresh competition to the market, posing challenges for Multichoice. According to Tech Cabal, football enthusiasts across Africa fear that the viewing experience might…

Co-founder and former CEO of Twiga Foods, Peter Njonjo, has resigned from the company’s board, after stepping down as CEO in December 2023 to take a six-month leave. Njonjo’s resignation has raised questions about the circumstances surrounding his departure, especially regarding the subject of his six-month leave. Reports had previously hinted that Njonjo’s time off might have been a cover for his forced exit, particularly with the involvement of investors Creadev and Juven in a crucial $35 million funding round for Twiga. At its core, Twiga operates as a cashless, mobile-based platform designed to streamline and enhance the supply chain…