Friday, March 29

Tech & Business

MTN
  • MTN is divesting its stakes in Guinea-Bissau and Guinea-Conakry to Telecel.
  • The telco giant will now shift more focus on rising markets Ghana, Cameroon, Nigeria, and Cote d’Ivoire.
  • With the exception of Cameroon, these three markets account for a combined 18.6% of the Group’s revenue.

South African tech heavyweight MTN has unveiled a key shift in its market strategy involving the divesture of its stakes in Guinea-Bissau and Guinea-Conakry businesses to Telecel.

This move is poised to mark a strategic change in bolstering MTN’s presence in Africa in what is perceived as stronger markets within the West and Central Africa region.

The agreement, which was sealed in December 2023, sees MTN ceding control to Telecel, a telco with a notable footprint in the African Telecommunications business. While the financial disclosures of the deal remain unclear, MTN has informed its stakeholders that further details will be published in the coming …

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African foodtech startups
  • Foodtech startups are leading a movement that aims to enhance food security and transform African agriculture into a model of economic viability and sustainability.
  • Nile, a business-to-business (B2B) marketplace seeks to modernise agricultural trade by enabling direct connections between farmers and buyers.
  • Another entity, Sand to Green, employs advanced agroforestry practices and technology to transform arid desert lands into fertile agricultural zones.

In the face of a future where 140 million people in Africa confront acute food insecurity, the emergence of foodtech startups across the continent is starting a new phase in agricultural practices and food production.

Armed with innovative technologies and visionary approaches, these startups are leading a movement that aims to enhance food security and transform African agriculture into a model of economic viability and sustainability.

A trio of visionaries from Amazon, JP Morgan and Luno have established a digital insurance platform Nile, a business-to-business (B2B) marketplace that …

Hormuud Telecom
  • Hormuud Telecom has launched the 5G network across Somalia, enhancing the speed of internet and communication.
  • This marks a significant leap towards a digitally inclusive society with reliable internet connectivity in the country.
  • A 5G networks is set to stimulate economic growth, create jobs, and revolutionize public services such as healthcare and education.

Hormuud Telecom has unveiled its 5G network, marking a historic moment for its main market Somalia, which now enters into the elite group of African nations such as Kenya and Ethiopia that have embraced this cutting-edge technology.

Hormuud Telecom 5G signal is now present across 30 cities and towns, promising to revolutionize the speed of the internet and communication and transform Somalia’s digital economy.

Enhancing Communication with 5G Technology

The introduction of the 5G network by Hormuud Telecom signifies a monumental leap in improving internet connectivity’s speed and reliability across Somalia. President Hassan Sheikh Mohamud, along …

ZendaProduct
  • Through its app, Zenda allows parents to pay fees directly to schools, all while streamlining collections by enabling schools to accept and manage online payments
  • Parents do not necessarily need to provide bank deposit slips as proof of payment because all transactions on Zenda happen in real-time
  • Zenda’s users have increased 20 fold, with the app reaching over US$100 million in annual contracted payment volumes by the close of last year

UAE- based startup Zenda is now eyeing Africa as its next frontier market for growth. 

The company which is looking to change how parents pay school fees and the way in which educational institutions manage the collection of fees is looking to expand its reach to Africa. 

Formerly known as nexopay, the firm plans to penetrate the African market through Egypt in the coming months as the firm embarks on a growth drive accelerated by a US$9.4 million seed

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  • There is a huge need for business owners, policymakers, and African leaders, in general, to capitalise on the investment in more research, higher education and science
  • Academic institutions need to build skills and knowledge of young professionals in areas of research, innovation, science and technology in order to benefit from the natural resources and improve the livelihoods of East Africans
  • Africa has the strongest growing scientific production currently at 38.6 per cent since the start of 2012 with the number of authors subsequently growing at a slightly higher rate of 43 per cent over the same period

The Academic Public-Private Partnership Forum (APPPF) has called for more funding to be availed to Africa’s researchers and innovators. This will largely drive up the continent’s sustainable economic development.

According to data by statista.com, despite Africa comprising 12.5 per cent of the global population, the continent still only accounts for less than 1

Central African Republic is the first African country to legalize bitcoin. www.theexchange.africa

The legal tender title of bitcoin in the country implies the acceptance of cryptocurrencies as a legal means of payment in any transaction through specific rules and regulations. This means that no vendor, trader or organisation can deny service payment through bitcoin as illegal.

This move comes after several countries in the continent have restricted trading in bitcoin, and most of them are lukewarm about the market.

The legalisation of bitcoin in the first African country will transform the country’s infrastructure and facilitate the blockchain technology and web3 applications to thrive. With legalising cryptocurrencies, the Central African Republic is moving towards a new path of technological development and economic performance. This dynamic field is popular among investors worldwide and ever-present as full-fledged assets in the portfolios of the world’s largest financial players such as Microsoft, Meta and Amazon.…

Manufacturing Shift: Morocco Adopts hi-tech to conquer European markets. www.theexchange.africa
  • Over the years, Morocco has been riding on its strategic position on Europe’s edge to build its success on low-cost production of low-cost goods, including textiles and food, through trade pacts with the European Union
  • Automotive was among the first industries to establish itself in Morocco and has become one of its success stories. 
  • Morocco’s aerospace exports, according to official estimates, increased by 21.9 per cent last year to $1.6 billion after plunging by over 30% in 2020 as a result of the global aircraft industry crisis prompted by the Covid-19 epidemic.

Over the years, Morocco has been riding on its strategic position on Europe’s edge to build its success on low-cost production of low-cost goods, including textiles and food, through trade pacts with the European Union. 

However, the emphasis has shifted to higher-value, higher-tech industries such as the automotive industry, aerospace, and pharmaceuticals, with Moroccan firms collaborating with foreign

flutterwave ceo olugbenga agboola 1200x900 1
  • The firm’s CEO Olugbenga Agboola has now come forward to address claims levelled against him in an email to employees
  • This is the first time the CEO has spoken in regards to the claims reported by West Africa Weekly, a Substack newsletter written by journalist David Hundeyin
  • The report highlighted several allegations against the startup and Agboola including fraud and perjury to insider trading as well as sexual harassment

Over the past two weeks, Nigerian fintech startup Flutterwave has been under fire after the firm’s Chief Executive Officer was accused of allegedly committing fraud, perjury to insider trading and sexual harassment.

The firm’s CEO Olugbenga Agboola has now come forward to address these claims levelled against him. 

In an email to employees, Agboola termed the allegations as false, condemning the impact these claims had had on the firm. 

“I’m writing today because I want you to know how concerned I

glocoll2
  • Africa’s fashion and textile industry is the second-largest sector after agriculture with an estimated market value of US$31 billion
  • The use of tech in fashion has been brought to a much broader scale including the use of apps and the creation of smart textiles
  • As the majority of Africans were forced to stay home, there emerged countless online clothing stores, most of which were using social media (Facebook, Instagram and Twitter) as marketing tools

Like many other sectors across the continent, the fashion industry is also taking to embracing technology to improve operations.

Africa’s fashion and textile industry is the second-largest sector after agriculture with an estimated market value of US$31 billion in 2020 and growing annually.

While combining tech with fashion may seem farfetched, technology has always been an essential factor in the production of clothes and the different styles in fashion since the beginning of time.

It is …

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