Author: Akin Naphtal

Mastercard has agreed to purchase a minority stake in the fintech division of MTN Group, Africa’s largest cell phone provider, which it values at $5.2 billion. The company revealed this in a recent statement. According to them, the signing of the formal investment agreements will likely occur very soon as both parties near the end of the regular due diligence process; the investment will be closed subject to usual closing conditions, the announcement read. According to MTN Group president and CEO Ralph Mupita, the deal will be structured as a commercial partnership on payments and remittances employing Mastercard’s technical infrastructure…

The London-based startup 11x.ai has recently announced to the general public its launch, along with a $2 million pre-seed funding round led by Project A Ventures. The company aims to develop and facilitate the creation of AI workers that can perform tasks in areas such as sales development, talent acquisition, and human resources. In the company statement, the startup’s first digital worker is Alice, a sales director representative (SDR). 11x.ai will soon introduce a no-code platform where companies and developers can build their own digital workforce to automate routine tasks. For example, in sales, these tasks may include initial outreach…

GDS, a leading developer and operator of high-performance data centers, celebrated the grand opening of its Nusajaya Tech Park Data Center Campus recently in Johor, Malaysia. At the event, it was attended by YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry; YB Lee Ting Han, Johor State Investment, Trade and Consumer Affairs Committee Chairman; Mr. William Huang, Chairman and CEO of GDS; Mr. Dan Newman, CFO of GDS; Ms. Jamie Khoo, COO of GDS and other guests to witness this major milestone in GDS’ history. GDS Nusajaya Tech Park Data Center Campus,…

Airtel Africa, one of the continent’s leading telecoms companies, has announced the sale of 666,174 ordinary shares by its CEO, Olusegun Ogunsanya. The deal that was carried out recently at the London Stock Exchange (LSE) involved the sale of 666,174 shares at the rate of £1.37 per share. Following the sale, Ogunsanya gained £757, 440.70 which, according to the telco, will be used to fund a property purchase. It’s worth noting that Ogunsanya still owns 4,325,282 ordinary shares in the telco. Airtel Africa is listed on both the Nigeria Stock Exchange (NSE) and the LSE (LSE). This announcement follows the…

MTN Rwanda has released a report documenting its unaudited financial results for the first half of 2023. The telco’s service revenue increased by 14.7% from the previous year’s haul. Beyond growing its service revenue, the telco also made some major strides in the volume of mobile money subscribers, active data subscribers, and more. As mentioned, its service revenue between H1 2022 and H1 2023 grew from Rwf 105 million to Rwf 120 million. For context, service revenue refers to the profit that MTN generated from its operations or business units through a base transmission station (BTS). The telco also saw…

Angola| Mastercard has entered into a strategic collaboration with Empresa Interbancária de Serviços S.A (EMIS) to introduce a co-branded contactless card incorporating EMV technology. Following the motive behind the initiative, it aims to bolster the digital economy and expedite the process of digital transformation. EMIS, also known as the Interbank Service Company, functions as the financial infrastructure operator for the Angolan Payment System. It holds responsibility for managing the interbank network encompassing ATMs and Point-of-Sale (POS) terminals. Additionally, EMIS serves as the clearing house for direct debit and funds transfer operations within banks, while also functioning as a Mobile Virtual…

UMP Healthcare Holdings Limited is pleased to announce the signing of a memorandum of understanding (MOU) with Imsight Technology Company Limited, specialised in providing artificial intelligence (AI) medical imaging analysis solutions. Through this collaboration, UMP will officially implement the DR-Sight AI technology to assist in the examination of chest X-rays at its medical centres. Recognising the extensive application of AI in different industries, the Group acknowledges the potential of utilizing AI-assisted technology to improve healthcare quality and service efficiency. DR-Sight is an AI-based medical imaging diagnostic assistance technology specifically designed for assessing chest X-rays images. It is used to identify…

The UK Secretary of State for Technology, Michelle Donelan MP, has said recently in an interview that she was still a supported part of the Online Safety Bill that would require social media apps to access private messaging features. The state goal of these provision is to protect children and vulnerable people from harmful online content. The legislation would target private messaging companies which use end-to-end encryption, such as WhatsApp and iMessage, to scan their users’ content for child abuse material. Users would need to install a client-side scanning software to read their messages before they are encrypted. According to…

In a statement by the Chief Technology Officer (CTO)/Co-founder of Kuda Technologies Limited, Musty Mustafa, he has restated that fintechs are pivotal to Nigeria’s quest to harness the full potential of the digital economy as a strategic non-oil contributor to socio-economic growth, he was quoted in his recent interview. The vibrant CTO who shared industry leaders’ perspective on the Nigerian economy and the role of startups in an interview in Lagos, commended the Federal Government’s digital economy policy as a right step in the right direction. In furtherance, he noted that cashless payment systems would impact more on the nation’s…

BasiGo, a pioneer in the electric vehicle industry, has launched the “E9 Kubwa”, a 36-seat electric bus exclusively designed for the Kenyan market. The release comes on the heels of the company’s announcement of a new initiative in Rwanda, in partnership with AC Mobility, to overhaul the country’s public transport system with electric buses. BasiGo says the E9 Kubwa is an embodiment of innovation, tailored to urban settings, like Nairobi, where buses typically carry 33 to 41 passengers. The electric bus, which can accommodate 18 standing passengers, can be recharged in just 2 hours at BasiGo’s DC Fast charging stations.…