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Dubai-based Rowad Capital Commercial (RCC) is poised to make a significant investment of $225 million in Uganda Telecommunications Corporation Limited (UTel), marking a pivotal moment for the Ugandan telecommunications sector. This investment will allow RCC to acquire a 60% stake…
Jumia’s share price falls from 53.82% to $4.89 on Tuesday, after the Africa-based e-commerce brand posted Q2 financial results that disappointed investors. The firm provides e-commerce and delivery services much like Amazon (NASDAQ:AMZN) does in the U.S. Jumia’s Share Price…
Network International, a Dubai-based payment services provider, has launched its new digital payment platform, Network One, in Nigeria. This $250 million platform is designed to empower banks, mobile network operators (MNOs), and fintechs across Nigeria and the broader West African…
AliExpress, the international online retail subsidiary of the Chinese eCommerce platform Alibaba Group, is poised to make a significant entrance into the Ethiopian market. This development comes following a finalized agreement announced by Dr. Abiyot Bayu, Senior Advisor to Ethiopia’s…
Hohm Energy, a South African solar company, finds itself in a precarious situation just months after successfully raising $8 million in seed funding. The company has entered a business rescue process due to severe cash flow issues and an inability…
Apple is set to release the Mac Mini M4, which is anticipated to be the smallest Mac ever produced. This new iteration of the Mac Mini is expected to debut later this year, marking a significant design refresh for the…
Kenya Government, Public Procurement Regulatory Authority, in partnership with GIZ and Strathmore University’s @iLabAfrica, announces the launch of the upgraded Public Procurement Information Portal. The fully automated PPIP will be used for the publication of contract awards and tender notices…
The solar industry has been experiencing significant volatility, often referred to as the “solar coaster,” where companies can rapidly rise and fall. In a recent development, SunPower, a major solar installer and a top pick by CNET for national solar…
Lucky ONE, an Egyptian fintech specializing in consumer credit, has successfully secured $3 million in a convertible bond funding round. This strategic investment aims to expand its credit platform and facilitate entry into new regional markets over the next two…
Nigerian-owned startup Sendsprint has acquired Nobel Financial Inc., a US-based global remittance service provider, to expand its footprint and services to customers in the United States. The firm is a cross-border payments startup operating in the UK, Ghana, Kenya, South…
