Author: Akin Naphtal

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…

Telecommunication companies have been instructed by the federal government of Nigeria, to block all outgoing calls on sims not yet registered, and linked with the National Identification Number (NIN), from today 4th of April, 2022. TheNewsGuru.com, (TNG) recalls the FG had given Nigerians up to March 31 to get hooked up or get disconnected. As it is there are more than 20.4m that will be affected. This was disclosed by, the Director of public affairs of the Nigerian Communication Commission (NCC) Ikechukwu Adinde, and Kayode Adegoke head of corporate communications, National Identity Management Commission (NIMC), in a joint statement on…

Nigerian ed-tech startup Klas, which allows anyone to set up an online school and deliver live classes, has raised a US$130,000 angel funding round to help it scale. Founded in December 2021 by Nathan Nwachuku, Klas allows creators on its platform to teach a variety of subjects via online classes, with its software supporting everything they need to teach online, including payments, scheduling, community, analytics, and video conferencing. READ ALSO: South Africa Fintech Startup, Sticitt Secures Oversubscribed Round of Seed Funding The funding round saw investments Voltron Capital, Cabal Fund, Velocity Digital, and HoaQ, as well as a number of prominent…

Sticitt, a South African fintech startup, has received an oversubscribed round of seed funding to help it grow. Sticitt, which was co-founded in January 2018 by Theo Kitshoff, Mitch Dart, and Dennis Wevel, simplifies payments within the South African education market with its simple payment system, Sticitt Pay, which offers niche communities an alternative payment solution to cash, formal banking, and card-based payments. Sticitt, which is primarily focused on the education market, raised $250,000 in funding in 2020 and has now secured a strategic investment from a consortium led by Nustate Capital Ventures in a seed round that was 1.5X…

In line with United Nations International Children’s Emergency Fund (UNICEF) advocacy campaign for Protecting children online, the Minister of Communications and Digital Economy, Nigeria, Prof. Isa Ali Ibrahim (Pantami) has inaugurated the National Committee on the Development of a Unified National Strategy on Child Online Protection (COP) in Nigeria. The committee has members drawn from the Federal Ministry of Communications and Digital Economy; Federal Ministry of Women Affairs and Social Development; Federal Ministry of Justice; Nigerian Communication Commission (NCC); National Information Technology Development Agency (NITDA); National Agency for the Prohibition of Trafficking in Persons (NAPTIP); Association of Licensed Telecommunications Operators…