Author: Akin Naphtal

Vodafone Egypt has acquired a 5G license for $150 million and extended its existing spectrum licenses by five years, securing these rights through 2039 at an additional cost of $17 million. These fees will be paid in the second half of the financial year, as confirmed in Vodacom Group’s recent interim results release for the six months ending September 30, 2024. The 5G licence was officially granted on October 7 by Egypt’s Ministry of Communications and Information Technology, represented by the National Telecommunications Regulatory Authority. Egypt has emerged as a pivotal market for Vodacom Group, which operates across multiple African…

Safaricom’s Ethiopian subsidiary reported robust customer growth, marking a 47.3% increase in active users over the six months ending in September. The announcement during Safaricom’s first-half financial results presentation in Nairobi highlighted the expansion, which now brings the subsidiary’s monthly active user base to 6.1 million. The company disclosed that it currently serves 46% of Ethiopia’s population, reflecting the rapid market adoption of its services. Despite the growth, Safaricom noted that Ethiopia’s currency devaluation impacted overall profitability. To mitigate the effects of foreign exchange challenges, Safaricom has taken steps such as renegotiating foreign currency-denominated contracts, engaging more local suppliers for…

Visa has announced strategic investments in four African start-ups from the first cohort of its Visa Africa Fintech Accelerator program, marking a significant push to expand fintech solutions and financial inclusion across the continent. The selected start-ups include Ghana-based business finance platform Oze, Kenya’s HR tech firm Workpay, Nigeria’s address verification service OkHi, and ORDA, a restaurant software provider operating in Nigeria, Kenya, and South Africa. These investments highlight Visa’s commitment to fostering fintech growth across Africa, with the company stating that each investment is a step toward enhancing financial access and digital payment solutions on the continent. The Visa…

Amazon Web Services has announced the formation of the Generative AI Partner Innovation Alliance, a strategic initiative designed to broaden the reach and impact of the AWS Generative AI Innovation Center (GenAIIC). The alliance aims to empower customers worldwide with the resources needed to develop and deploy generative AI solutions successfully. Launched in June 2023, GenAIIC connects AWS clients with a team of AI/ML scientists and strategic experts to facilitate the development of generative AI applications. The center has already helped thousands of organizations—including DoorDash, Nasdaq, and the PGA TOUR—bring generative AI projects to fruition. Currently, over half of the…

Mobily, a leading Technology, Media, and Telecom (TMT) company in Saudi Arabia, has partnered with Telecom Egypt, a major telecom operator and subsea cable provider, to lay the first Saudi submarine cable connecting Saudi Arabia and Egypt. The new subsea cable, wholly owned by Mobily, will traverse the Red Sea, creating a direct link between the two nations and offering expanded connectivity options for Europe.The cable, part of Mobily’s broader expansion of subsea cable systems, aims to support increasing telecommunications traffic and rising demand for internet services both locally and internationally. It will land at strategic locations on the Red…

MasterCard and Diamond Trust Bank (DTB) have entered a decade-long partnership to enhance digital payment solutions in Kenya, Uganda, and Tanzania. The partnership aims to improve financial accessibility and the digital banking experience for both individuals and businesses in the region. The partnership focuses on introducing innovative, secure, and convenient payment options, including customized card products and advanced services for peer-to-peer, business-to-business, and person-to-business transactions. As part of their commitment to fostering seamless digital experiences, MasterCard and DTB plan to develop tokenization-based passive payment wearables for the Kenyan market, bringing contactless payment technology directly to consumers. In collaboration with Tappy…

Equinix, a global leader in digital infrastructure, has named Wole Abu as Managing Director for its West African operations. Abu’s role includes overseeing Equinix’s business across Nigeria, Ghana, and Côte d’Ivoire, with a focus on fostering local connectivity, collaborating with multinational partners, and spearheading expansion efforts. This move aims to strengthen Equinix’s digital infrastructure footprint in the region. Abu steps into the role following Funke Opeke, MainOne’s founder and CEO, who will continue with Equinix as a strategic advisor for the West African region until March 2026. With over two decades in the Nigerian telecom industry, Abu previously served as…

stc Group has reported impressive financial results for the first nine months of 2024, posting a revenue surge of $577.26 million to reach $15.03 billion, a 3.92% increase over the same period last year. Net profit hit $3.03 billion, marking an 11.9% growth year-over-year, excluding a one-time gain of $350 million. from the sale of Al Khobar land recorded in Q3 of 2023. stc’s subsidiaries also contributed significantly to this performance, with an 11% increase in revenue that bolstered the Group’s results, exceeding market expectations. Following shareholder approval to sell a 51% stake in the Telecommunication Towers Company (TAWAL) to…

Huawei’s Carrier Business President James Chen outlined the company’s strategy for harnessing the combined potential of AI and networks to drive greater business value. In a speech titled “Network+AI, Unleashing More Business Value” at the 10th Ultra-Broadband Forum (UBBF 2024), Chen introduced Huawei’s “FOUR NEW” approach, which focuses on four pillars: new hub, new services, new experience, and new operation. He emphasized that these components are essential for expanding market reach, fostering service innovation, enhancing competitiveness, optimizing network operations, and achieving business growth. “Huawei is committed to collaborating with global carriers and partners to unlock new business value and build…

Nvidia, a leader in artificial intelligence, is expanding its presence in healthcare with ambitious plans to bring AI-driven robotics, or “physical AI,” to hospitals nationwide. The technology giant envisions a future where robots assist in various hospital tasks, from X-ray operations to linen delivery, part of Nvidia’s broader push to dominate the advanced robotics market. Kimberly Powell, Nvidia’s Vice President of Healthcare, shared the company’s vision during a keynote at the HLTH conference, noting the transformative potential of AI in healthcare. “This physical AI thing is coming where your whole hospital is going to turn into an AI,” Powell told…