Author: Akin Naphtal

Vertiv, a global provider of critical digital infrastructure and continuity solutions, has announced a partnership with ZincFive, the world leader in nickel-zinc (NiZn) battery-based solutions for immediate power applications. This collaboration will see Vertiv adding the ZincFive BC Series uninterruptible power supply (UPS) Battery Cabinets to its range of battery systems available for data centre backup power. The safe and recyclable nickel-zinc batteries are compatible with select large and medium Vertiv™ UPS systems, including the recently launched Vertiv™ Trinergy. These batteries serve as a source of backup energy storage, aligning with Vertiv’s commitment to helping customers minimize the environmental footprint…

Egypt’s leading fintech company, MNT-Halan, has successfully raised $157.5 million in funding to support its upcoming international expansion. Established in 2018, MNT-Halan was designed to provide digital banking solutions to the unbanked and replace cash with electronic options. Its digital ecosystem offers a range of services, including small and micro-business lending, consumer finance, pre-paid cards, e-wallets, savings, payments, and e-commerce. Currently, MNT-Halan boasts over 2.2 million quarterly active users, has disbursed more than $4.4 billion in loans, and has served over seven million customers in Egypt. With this new capital injection, the company is poised to extend its reach beyond…

Uncover, a tech-enabled beauty brand, has secured $1.4 million in a Seed II funding round to enhance its technology platform, launch new products, and expand into new markets. Founded in 2021, Uncover is a women’s skincare brand that leverages data to create science-backed products tailored to the needs of women. The startup’s tech platform facilitates product discovery, provides educational information, and fosters community engagement, utilizing thousands of data points to personalize skincare solutions for its users. Uncover has built a digital community of over 200,000 women across Kenya, Nigeria, and the diaspora. Over the past two years, the company has…

Zaka VC, a venture capital firm founded in 2020 by entrepreneurs Jan Kasper and Peter Zalesak, has launched its first major investment fund aimed at supporting early-stage start-ups in the US and EU. The fund, which started this month with an initial closing of €10.5 million, has a goal of reaching €15 million. This launch marks a significant expansion for Zaka, which previously focused on the central and eastern European markets (CEE). “The trigger to create ZAKA was my daughter Valentina who has introduced me to the emerging start-up ecosystem,” Kasper said. “I recognised this opportunity as an exciting way…

Microsoft has said that the recent CrowdStrike outage affected about 8.5 million gadgets- less than one per cent of Windows machines on the globe. In a statement issued by the multinational company’s Vice President of Enterprise and Operating System Security. These are the first real numbers released by either Microsoft or CrowdStrike around the scale of yesterday’s outage, which was caused by an update to CrowdStrike’s cybersecurity software that led Windows machines to crash. (Mac and Linux devices were not affected.) Although the number of affected devices was relatively low, the havoc was widespread and global, affecting banks, retailers, brokerage…

Mastercard has partnered with Kalabash54, the fintech subsidiary of West Africa’s prominent online travel tech company, Wakanow Group, to launch innovative travel cards for customers in Nigeria and Ghana. This collaboration aims to provide a secure and convenient payment solution tailored to the needs of travellers in the region. The Kalabash54 travel card offers a comprehensive payment solution, allowing users to fund trips directly from the Kalabash54 app using either physical or virtual cards available in local currency or USD. Users can manage their card through the app, with features including activation, PIN changes, and security controls. Additional benefits include…

Network International has announced the extension of its strategic partnership with EGBANK to enhance the bank’s ATM acquiring service. This partnership was aimed at improving the banking experience for EGBANK’s customers and advancing the bank’s digital transformation through innovative solutions. Leveraging Network International’s expertise, which is a prominent enabler of digital commerce in the Middle East and Africa, the partnership aims to bolster EGBANK’s competitiveness in the Egyptian market. The collaboration will introduce advanced payment technology and innovative solutions designed to boost consumer trust and convenience, further solidifying Network International’s existing relationship with EGBANK. The Deputy CEO of EGBANK, Hossam…

Ericsson and MTN have collaborated to offer free financial training to small- and medium-scale women entrepreneurs in Kampala, Uganda. This initiative aims to drive financial and gender inclusion and empower African women to reach their full potential. The two companies launched a three-week training program for local female traders at one of Kampala’s largest markets. The program not only enhanced financial literacy but also showcased the benefits of MTN’s mobile financial services platform, MoMo, powered by Ericsson Mobile Financial Services, encouraging participants to utilize it for their businesses. The training commenced with an official opening attended by Sylvia Mulinge, Chief…

The National Information Technology Development Agency (NITDA) has launched the ‘Digital Literacy for All’ initiative, to ensure inclusive growth and equip Nigerians with essential digital skills. The initiative was aimed at ensuring every Nigerian access to be equipped with the necessary tools to access and utilize online resources for education, employment and government services safely. According to NITDA, the initiative aligned with President Bola Ahmed Tinubu’s priority to reform the economy for sustained inclusive growth. It stated that the ‘’Digital Literacy for All’ initiative sought to ensure that every Nigerian has access to digital literacy, ensuring no one is left…

Facebook and Instagram parent company, Meta Platforms, has been fined $220 million by Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) for violating local consumer, data protection, and privacy laws. The fine follows a 38-month investigation conducted in collaboration with Nigeria’s Data Protection Commission. Meta has yet to comment on the Nigerian fine. The FCCPC’s investigation revealed that Meta inappropriately appropriated the data of Nigerian users on its platforms without their consent and exploited its market dominance by imposing unfair privacy policies. The commission also found that Meta subjected Nigerian users to discriminatory and disparate treatment compared to users in…