Author: Akin Naphtal

Chris Wood, CEO of the West Indian Ocean Cable Company (WIOCC) Group, discusses the company’s unwavering commitment to Africa’s digital infrastructure, strategies to combat subsea cable outages, and its vision for the continent’s technological future. For over 15 years, WIOCC has played a pivotal role in Africa’s digital evolution, solidifying its reputation as a key enabler of connectivity. Since its establishment in 2008, the company has invested more than $500 million in digital infrastructure to support the wholesale telecommunications community across Africa. “We are a fibre-pair owner on the Equiano and 2Africa cable systems and a major operator on all…

The company announced that Vodacom Group has reported significant growth in its financial services sector, with Vodafone Egypt’s financial services revenue surging by 77.7%. The telecom giant highlighted strong commercial momentum in Egypt, where financial services customers grew by 40.7% to 10.5 million, alongside a 25.6% increase in data traffic. Egypt’s contribution to Vodacom’s overall performance has also expanded, with service revenue reaching R6.8 billion, accounting for 22.3% of the Group’s total. The quarter closed with 50.7 million customers in Egypt, marking a 6.2% rise. Vodacom’s push into fintech continues to gain traction across Africa. The company revealed that its…

TikTok has reinforced its footprint in Kenya by partnering with Aleph Holdings and Wowzi to enhance advertising operations and provide greater support for local content creators. The collaboration aims to bolster TikTok’s local infrastructure while opening up new opportunities for businesses and digital creators in the country Aleph Holdings, a digital advertising company, focuses on making online advertising more accessible, while Wowzi is an influencer marketing platform connecting brands with African content creators. “These collaborations empower not only Kenyan advertisers with unmatched access to cutting-edge digital ad formats and tailored local support but also open new doors for the immensely…

Airtel Africa has reported a staggering 12,300% increase in profit after tax, reaching $248 million for the nine months ending December 2024, a significant surge from just $2 million in the same period of 2023. This growth comes despite a 5.78% decline in revenue, which fell to $3.64 billion from $3.86 billion. The telecom giant attributed the revenue decline to currency devaluations in key markets, including Nigeria, Malawi, and Zambia. In particular, the Nigerian naira depreciated sharply, moving from an average exchange rate of NGN/USD 677 in the previous year to NGN/USD 1,532 in the current period. However, in constant…

Moove, a leading mobility fintech backed by Uber, has announced the acquisition of Brazilian urban mobility provider Kovi in a strategic move aimed at accelerating its global expansion. The all-share transaction is expected to boost Moove’s annual recurring revenue (ARR) to $275 million, reinforcing its dominance in the mobility financing sector. Co-founded in 2020 by Ladi Delano and Jide Odunsi, Moove has grown rapidly from a startup with just 76 cars in Lagos, Nigeria, to a global player with a fleet of 36,000 vehicles across 19 cities spanning six continents. The acquisition marks a crucial step in Moove’s bid to…

MTN emerged as the fastest mobile provider in Nigeria during the second half of 2024, dominating key performance metrics across all technologies, including 5G, according to Speedtest Intelligence® data. With a median 5G download speed of 231.39 Mbps and an upload speed of 17.35 Mbps, MTN outperformed competitors, securing the top spot in Nigeria’s evolving mobile broadband landscape. The telecom giant also recorded a Speed Score of 79.52 for all technologies combined, surpassing Airtel (15.38 Mbps) and Glo (7.77 Mbps) in median download speeds. Additionally, MTN led in median upload speed at 13.38 Mbps and had the lowest network latency…

e& has signed a strategic Memorandum of Understanding (MoU) with New York University Abu Dhabi (NYUAD) to drive research and development (R&D) in 6G technology. The partnership aims to bridge the gap between academia and industry by equipping students with foundational knowledge of future technologies and integrating 6G into academic curriculums. Under the agreement, e& will support NYUAD through youth development initiatives, including internships, recruitment drives, and hands-on industry training. The collaboration seeks to cultivate the next generation of tech leaders by providing students with the skills and experience needed to shape the future of connectivity. Ali Al Mansoori, e&…

PiggyVest has crossed a major milestone, surpassing $1.25 billion (₦2 trillion) in total user payouts since its inception in 2016. The company recorded a 53 percent increase in payouts from 2023, disbursing over $547.3 million (₦835 billion) in 2024 alone. Somto Ifezue, CEO and Co-Founder, , described 2024 as the company’s most profitable and successful year. “We remained steadfast in delivering value to our users despite facing economic challenges,” he stated. Renowned for its innovative financial products, PiggyVest has played a key role in democratizing access to financial services in Nigeria. By leveraging technology, the platform bridges the gap between…

Airtel Kenya’s mobile money platform, Airtel Money, has significantly increased its market share, rising from 2.9% to 7.6% in the year ending September 2024, according to the Communications Authority of Kenya (CA). This growth has been attributed to free Airtel-to-Airtel transfers, competitive cross-network transaction fees, and lower withdrawal charges compared to Safaricom’s M-PESA. During the same period, M-PESA’s dominance in the mobile money sector shrank, with its market share dropping from 97.0% to 92.3%. Once commanding a 98% share, M-PESA has faced rising competition as Kenyans increasingly prioritize affordability in their financial transactions. The CA noted that mobile money subscriptions…

STEM—an acronym for Science, Technology, Engineering, and Mathematics—remains a cornerstone of innovation, economic progress, and societal advancement. Yet, in Africa, the underrepresentation of women and girls in these fields persists, largely shaped by socio-cultural norms, systemic biases, and limited access to quality education. Despite these hurdles, trailblazers like Kodou Jeng are leading the charge to close this gender gap. Jeng, the CEO and Founder of Women in STEM Gambia (WiSTEM Gambia) and WiSTEM Africa, has devoted her life to empowering women and girls through STEM. Her relentless advocacy for gender equity and her transformative efforts are reshaping the STEM education…