Digital payments firm MFS Africa closes $200 million Series C round

MFS Africa, which operates the largest digital payments network in Africa, has reportedly raised an additional funding of $100 million in equity and debt, doubling its Series C round over to $200 million. While new investors such as AXA Investment Managers and Vitruvian Partners took part in the

Nigeria to commence local production of military, paramilitary kits

The ICRC (Infrastructure Concession Regulatory Commission) has recently confirmed that Nigeria is all set to start the domestic production of uniforms for its paramilitary and military people from January next year. According to sources, ICRC confirmed that Nigeria is set to start with the local

Egypt expands media presence in African continent with new satellite

On 8 June, the American space transportation and aerospace producer- SpaceX- reportedly launched Egypt’s Nilesat 301 telecommunications satellite into the space from the Cape Canaveral Space Force Station established in Florida. Speculations have it that the new satellite may replace the Ni

Universal Music expands Virgin Music Label & Artist Services to Africa

Dutch-American record label, Universal Music Group (UMG), has reportedly launched its Virgin Music Label & Artist Services in Africa, which will focus on supporting upcoming independent artists, labels, influencers, and entrepreneurs in the region. Virgin Music Label & Artist Services was

USD 15.6Bn highway could benefit 40Mn West Africans: Fashola

Nigeria’s Minister of Housing and Works, Mr. Babatunde Fashola has announced that the completion of Abidjan-Lagos, a 1028-kilometre highway will benefit around 40 million West Africans in the coming years. As per credible sources, the construction of the highway is estimated to be around $1

AkzoNobel to take over paints & coatings ops of Kansai in Africa

AkzoNobel, a Dutch chemical company, plans to reinforce its footprint in Africa by reaching an agreement with Kansai Paint, a Japanese, Osaka-based chemical company, to obtain its paints and coatings activities in the region. The deal is expected to be closed during the year 2023. Kansai is pr

UK considers guaranteeing South Africa $1bn for green energy switch

The UK is reportedly contemplating guaranteeing at least $1 billion of South Africa’s debt as part of a deal intended to reduce the country’s dependence on coal, in a push toward green energy. According to people familiar with the matter, further talks will take place on how the guara

Ayoken to scale NFT platform for creatives with $1.4 Mn funding

Ayokenlabs, the leading startup marketplace, is all set to present digital collectibles from sports brands, singers, and influencers across the world. The firm has raised USD 1.4 million funding in its pre-seed round to support users diversify their revenue streams by trading the digital artifact

Uber crosses 1bn rides in Africa, covering a distance of over 10bn km

Uber, the renowned American ride-hailing company, has reportedly announced a major milestone, it has completed 1 billion rides throughout all its African markets. According to the organization, this feat equates to a distance traveled of nearly 10 billion kilometers. This achievement comes abo