In a major move to improve safety and service quality in Nigeria’s ride-hailing sector, Bolt has announced a €100 million (around $107 million) investment focused on enhancing safety standards for both drivers and passengers. The investment will fund new safety technologies, accident prevention measures, customer support upgrades, and public safety awareness campaigns, underscoring Bolt’s commitment […]

In a significant development for Nigeria’s oil and gas industry, Dangote Refinery and Pinnacle Oil & Gas Limited have reached an agreement to optimize petroleum product distribution across the country. This partnership, centered on Pinnacle’s new distribution terminal in the Lekki Free Zone, Lagos, reflects an effort to improve efficiency and reduce costs in the […]

Visa, a global leader in digital payments, announced on Wednesday strategic venture investments in four startups that graduated from the inaugural Visa Africa Fintech Accelerator program cohort. This move underscores Visa’s commitment to supporting Africa’s fintech ecosystem, fueling digital transformation, and advancing financial inclusion across the continent. The investments not only highlight Visa’s focus on […]

Coca-Cola Beverages Africa (CCBA) has committed a significant $50 million investment to expand its operations in Namibia by launching a state-of-the-art bottling line at its existing plant. This expansion is expected to increase production capacity by 30%, enabling the facility to produce an impressive 27,000 bottles per hour. This latest development underscores CCBA’s dedication to […]

In a challenging third quarter, MTN Nigeria Communications Plc reported a loss after tax of N514.9 billion for the nine months ending September 30, 2024, primarily due to the ongoing economic struggles facing Nigeria. The telecom giant’s financial performance was significantly impacted by the devaluation of the naira, a decline in subscribers, and an inflationary […]

Standard Chartered, a global banking leader in cross-border finance, and British International Investment (BII), the UK’s development finance institution and impact investor, have announced the renewal of a $350 million risk participation agreement. This strategic facility is designed to bolster the trade finance needs of small and medium-sized enterprises (SMEs) and larger corporations across Africa […]

The Competition Tribunal’s decision to block a major merger between Vodacom, South Africa’s leading telecom operator, and fibre network operator Maziv, is expected to have significant repercussions on the telecommunications industry. Analysts warn that this could derail the broader strategy of using mergers and acquisitions (M&A) to rapidly expand digital infrastructure, potentially slowing sector growth […]

South Africa is adjusting its financial strategies to address complex economic shifts, both domestically and globally, by holding weekly auctions for inflation-linked bonds. This step forms part of a broader debt management approach intended to stabilize the national economy, especially as the rand remains relatively steady despite significant changes in both the global economy and […]

African venture capital firm Janngo Capital has achieved a significant milestone, successfully closing its second fund at €73 million (approximately $78 million). This fund will enable the firm to invest in promising African startups, driving economic growth and technological advancement on the continent. Janngo Capital, known for supporting category-defining startups, plans to grow its portfolio […]

Tech giant Google has pledged an additional US$5.8 million in Google.org funding to support artificial intelligence (AI) and cybersecurity training initiatives across Nigeria, Kenya, and South Africa. This commitment highlights Google’s focus on fostering digital skill development across Africa, building on its prior $20 million investment dedicated to the continent’s growing tech ecosystem. Expanding Africa’s […]