Author: Akin Naphtal

The Communications Regulatory Authority of Namibia (CRAN) says it will temporarily suspend the awarding of new telecommunications and broadcasting service licences from 1 October 2022 until 30 September 2023. CRAN said it wants to use this period to conduct a market research study on fixed data sets linked to licences currently in the market. It added that the objective behind the study is to determine the current level of competition, market saturation and any existing barriers to entry. CRAN CEO Emilia Nghikembua said during the suspension period, the organisation will only consider applications for amendment, withdrawal, transfer and cession of…

Visa has opened a new Innovation Studio in Nairobi, its first dedicated innovation site in Sub-Saharan Africa (SSA). According to the multinational financial services corporation the facility will serve the SSA region and joins a network of innovation centres operated by Visa since 2016, in cities including Dubai, San Francisco and Singapore. The company said the new facility supports its commitment to promote innovation and to “creating opportunities for clients and Fintech partners to co-create market-relevant payment and commerce solutions throughout the region.” The facility is designed to replicate the success of Visa’s flagship innovation centre, One Market in San…

Kenyan social commerce startup Tushop, which enables communities in Nairobi to buy groceries more cheaply with free delivery, has secured US$3 million in pre-seed funding to expand its team and platform, and roll out across Kenya. Founded in 2021, Tushop aims to make access to groceries more affordable and more convenient for Kenyans, and eventually all Africans. Community group-buying saves consumers up to 60 per cent on groceries compared to buying in supermarkets, Dukas, or at “mama mbogas”, while providing the added convenience of free delivery. Tushop works with “community leaders” who collate orders from their neighbours and manage door-to-door…

Nigerian peer-to-peer (P2P) lending startup Sycamore has closed an undisclosed seed funding round as it looks to expand its operations. Founded in 2019 by Babatunde Akin-Moses, Onyinye Okonji and Mayowa Adeosun, Sycamore uses proprietary risk assessment tools to disburse business loans on the same day via its web and newly-released mobile app. The startup has already disbursed millions of dollars to thousands of small businesses in Nigeria, and has also released a feature allowing users to manage loans given to loved ones. The Sycamore app’s “Loan Friends”’ feature enables people to make a loan request from a friend or family…

Egyptian e-grocery marketplace ON Market has raised US$215,000 in pre-seed funding to further expand its operations in Cairo, Alexandria, Tanta, Mansoura, and multiple other cities across the country. Founded in June 2020 in Tanta by Moatasem Marzouk, Seif Yasser, Ahmed Najjar, and Moataz Marzouk, ON Market empowers grocery retailers with tech solutions to build and sustain online commerce. The startup, which graduated from the AUC Venture Lab’s acceleration programme in 2021, also connects customers through their app with nearby grocery retailers, enabling them to order from multiple retailers in a single order. The pre-seed funding comes from a host of…

Telecom Egypt has signed an agreement with the European Investment Bank (EIB) to secure a loan of €150-million to expand its 4G broadband network. According to EIB, the operator plans to use the money to open a new development facility that will be used to deploy 2, 000 new mobile sites to upgrade coverage and installing additional capacity layers to its existing portfolio of mobile towers. It added that the partnership, currently the EIB’s largest mobile network loan in Africa, will expand the network to cover less densely populated areas , enhance competition and make services more affordable. Telecom Egypt…

Global digital infrastructure company Equinix has acquired West African datacentre and connectivity solutions provider MainOne for an enterprise value of US$320-million, and effectively marks the beginning of its expansion into Africa. In a statement released to the media, Equinix said the completion of this acquisition augments its long-term strategy to become a leading African carrier-neutral d igital infrastructure company by being able to bring a full range of transformative technologies and connectivity to Cote d’Ivoire, Ghana and Nigeria. An excerpt from the statement reads: “This acquisition will extend Platform Equinix into West Africa, giving organisations based inside and outside Africa…

Under pressure, the Malawian government says it is planning to revise taxes imposed on telecommunication companies to reduce the high cost of communications, as well as establish the Malawi Information Technology Authority to strengthen governance. Currently, the government has imposed a 17.5% Value added tax (VAT) on the importation of mobile phones, a 16.5% on internet services and an additional 10% excise duty on mobile phone text messages and internet data. The Minister of Information and Digitalisation Gospel Kazako said taxes in the telecommunications industry limit the country’s digitalisation drive: “The creation of an e-economy cannot be achieved if gadgets…

Egyptian mobility company Swvl has begun trading on the US-based NASDAQ stock exchange with an initial offer price of US$9.95 per share. Founded by Mostafa Kandil in 2017, Swvl is a mass-transit system that enables riders heading in the same direction to share a ride in a van or bus. The startup’s proprietary mobility solutions are helping to solve mass transit supply and demand challenges in emerging markets, empowering underserved communities with transportation solutions that are reliable, convenient, safe, and affordable. The startup is among the best-funded in Africa, and is now active across 16 countries. Its gross revenue and…

T he new customizable platform was purpose-built to match elite talent with jobs that fit, not just technical requirements, but personal work preferences too – 70% faster than traditional in-house recruiting. Andela, the global marketplace for remote technical talent, today announced the launch of its new platform, designed to create a more direct, personalized, and successful hiring experience for both talent and recruiters. The company, already known for its focus on high-quality global engineering talent from over 100 countries, has now expanded its offering to include designers, product managers, and data talent. To reflect this growth, Andela is also unveiling…