Pan-African digital payments hub MFS Africa signed an agreement to acquire Baxi, one of Nigeria's super-agent networks. The deal, which is subject to approval from the Central Bank of Nigeria, will be the second highest fintech acquisition in Nigeria to date.
Decklar Resources announced the commencement of completion operations for the Oza-1 well re-entry in Nigeria.
Brass, a Nigerian digital bank delivering easy access to affordable premium banking services for small and medium-sized businesses (SMEs), has today secured $1.7mn in funding.
The African Development Bank (AfDB), signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of MTN Nigeria, to be used for a study into factors hampering access to finance for women in northern Nigeria.
Adedokun Muhammed-Ali Adedeji is a Nigerian innovator, entrepreneur and logistics manager. A green mobility advocate, Adedokun is the founder of Brightcloud Automotive.
The Series A investment enables Asante to scale its credit offerings to the underserved segment of MSMEs in Kenya and Uganda, and expand to Nigeria and Rwanda.
This comes on the back of the review of its rules to provide the flexibility to implement diverse Market Making programmes across all asset classes listed on The Exchange, as approved by the Securities and Exchange Commission
[Nigeria] E-commerce fulfillment startup Sendbox raises $1.8 million to digitize deliveries for Africa’s SMEs
Sendbox has announced the completion of a $1.8 million seed round from investors including 4DX Ventures, Enza Capital, FJLabs and Golden Palm Investments.
Autochek, the automotive technology company that aims to facilitate auto finance across Africa, has officially widened its operations to Kenya
The United Nations Industrial Development Organization (UNIDO) has recognised South African NEC XON’s alternative energy Hybrid Storage Solution (HSS) as an innovative technology for promoting sustained, inclusive and sustainable economic growth.
Nigeria's Eden Life has announced that it has completed a $1.4m Seed round, led by UK-based LocalGlobe, along with participation from Samurai Incubate, Future Africa, Village Global, Rising Tide Africa and Enza Capital.
After extensive research and continuous development, Centurion Law Group has launched the Africa Investment Guides series in Nigeria, developed to serve as the African countries’ guide in reflecting and navigating through tough economic times.
Nearly four months after the launch of its Tier III facility at Appolonia City, Accra, Ghana, MDXi, a MainOne company, has announced the expansion of its data center facilities in Lekki, Lagos, Nigeria.
Pan-African fintech startup Carbon partners with Network International to boost digital payment offering
Under the agreement, Network International will issue and process physical Visa debit cards on behalf of Carbon, enhancing the bank’s offering to customers.
Significantly, for African countries monitored, Nigeria only trails Egypt (19 466) by the number of attacks blocked, pointing to how prevalent mobile threats have become in this highly connected country.
The flights are operated on Wednesday, Friday and Saturday. Ethiopian is one of the oldest carriers flying to Nigeria and has been serving the country since 1960, strengthening trade, cultural and tourism ties between Nigeria and the rest of the world.
ADM Energy PLC , a natural resources investing company, has announced the completion of the 16th Lifting at the Aje Field, part of OML 113 offshore Nigeria.
AfricInvest, a Pan-African asset management platform covering Private Equity, Venture Capital, and Private Credit, announced the acquisition of a minority stake in the Nigerian insurance company Royal Exchange General Insurance Company (REGIC).
MTN Group announced the appointment of Benjamin Adekunle Awobodu as the new Chief Financial Officer (CFO) for Digital and Fintech.
Femi Apesin is the Head of Growth and Marketing at OnePipe, a Nigerian startup that has raised almost US$1 million in a pre-seed round with a plan to make API integration seamless for banks and fintech companies.
Facebook announced the winners of the 2021 Facebook Community Accelerator Program, highlighting the 13 Facebook community leaders Africa who will receive up to $50,000 USD in funds.
Globacom selects Eutelsat’s Konnect Africa to bring satellite broadband to underserved regions of Nigeria
Eutelsat Communications and Globacom signed a multi-year, multi-Gbps wholesale capacity contract, enabling Globacom to extend its coverage beyond the reach of its terrestrial infrastructure, leveraging the EUTELSAT KONNECT satellite.
Untapped Global, an investment company focused on emerging markets, announced a scale up of its partnership with Paga, the mobile payment and financial services company, to finance point-of-sale devices (POS) for merchants in Nigeria.
Nigeria’s B2B payments platform Verto has announced that it has closed $10 million in Series A funding for expansion. The round was led by Quona Capital, an emerging fintech-focused venture capital firm
The African Energy Chamber has entered into agreements with the Nigerian government in order to attract new investment into the nation's rich oil resources.
Fitch Ratings has affirmed United Bank for Africa (UBA) Plc's Long-Term Issuer Default Rating (IDR) at 'B'. UBA's National Short-Term IDR has also been upgraded to 'F1+(nga)' from 'F1(nga)', reflecting the bank's continuing solid funding.
MarketForce, the Kenya and Nigeria-based B2B platform for retail distribution of consumer goods and digital financial services in Africa, announced the appointment of Arthur Bourekas as the Chief Commercial Officer, effective 1st October 2021.
ReelFruit, a premium dried fruit company known for its high quality nutritious snacks, announced a Series A investment of $3 million to expand production with new factory in Nigeria.
With industries such as energy, manufacturing, agriculture and mining contributing significantly to GDP, all of which are expected to grow exponentially with the increase in technology and investment, the country is well on its way to become a multi-sector giant.
Nigeria's financial and energy access startup InfiBranches Technologies Limited has raised a $2m investment pre-seed raise round to help bridge the energy distribution gap in Nigeria’s underserved rural and peri-urban areas and foster financial inclusion
Jobberman, the single largest job placement website in sub-Saharan Africa, has today announced its Alliance for Better Work initiative, as part of its longstanding partnership with the Mastercard Foundation.
The African Union (AU) through the Africa Centres for Disease Control and Prevention (Africa CDC) is set to launch the Eastern regional co-ordination center in Kenya come October 1.
Nigeria has joined the World Logistics Passport (WLP) as a Hub, with the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) as the coordinating partner.
Nigerian fintech startup Infibranches secures $2m funding from All On to drive growth in the renewable energy sector
Shell-funded impact investment company All On announced a $2 million investment in fintech company, Infibranches Technologies, to help bridge the energy distribution gap in underserved rural and peri-urban areas of Nigeria.
The NCC will publish an implementation roadmap for the deployment of 5G across the country with service roll-out obligations.
Social impact investor Oikocredit invested $500,000 in Victory Empowerment Centre, an NGO focused on improving the living conditions of disadvantaged women through innovative and flexible microfinance services.
United Airlines announced that new service between Washington, D.C. and Lagos, Nigeria will begin November 29 (subject to government approval). The airline will operate three weekly flights connecting the U.S. capital to Nigeria's largest city.
Pangea Trust has opened applications for its Startup Connect Programme, to increase the deployment of diaspora remittances and networks to provide investment capital to MSMEs and startups in Kenya, Ethiopia and Somalia.
54gene, the health technology company advancing African genomics research for improved global health outcomes, secured $25 million in a Series B round, led by Cathay AfricInvest Innovation Fund.
As legal practice in Nigeria continues to grow in size and capacity, and considering the current state of the world, it is evident that a conflation of law and technology should take place.
Dangote Oil Refinery has thrown its weight behind the efforts by the Nigerian Content Development and Monitoring Board (NCDMB) to promote the critical issue of Research and Development (R&D) in the oil and gas sector of the country.
With the election, Onyema will serve on the WFE board for a 3-year term, representing Europe-Middle East-Africa (EMEA) region.
[Nigeria] Agritech startup Releaf secures $4.2m funding to drive industrialisation of food processing in Africa
Nigeria's agritech startup Releaf, which develops proprietary hardware and software solutions to industrialize food processing has raised $2.7 million seed funding and grants.
InfraCredit, specialized infrastructure credit guarantee institution, announced $5m equity investment by Leadway Assurance, making Leadway, the first private institutional investor member of the shareholder group in InfraCredit.
For instance, spam constituted almost 30% of email traffic in South Africa and close on 35% in Kenya in H1 2021.
Sporty.com, an online sports media and entertainment brand, has partnered with NTA to simulcast its free-to-air broadcast of premium sports content.
Social media giant Facebook has announced a new partnership with Big Cabal Media and Comic Republic to launch a new campaign against fake news.
This is the latest investment from MTN in a growing relationship with Nigeria’s dynamic football ecosystem.
The Department of Petroleum Resources ( DPR) says it is collaborating with the Standards Organisation of Nigeria (SON) to curb the manufacturing and sale of substandard lubricants in the country.
A financing package from IFC will help BCI Holding SA, a regional manufacturer and distributor of polyurethane (PU) raw materials, systems and specialities to further expand its production in Algeria, Egypt, and Nigeria.
X-Mobile – which was first launched in 2019 in its Beta state – is a dynamic and user-friendly mobile app, designed to enhance investors’ participation in the Nigerian capital market.
[Nigeria] IOMS launches model to provide integrated last-mile delivery services to the offshore energy industry
FlexDELIVERY disrupts the traditional model of high shore base startup costs, rentals and vessel time-chartered contracts by focusing on the service that is required by the energy industry – cargo delivery.
Autochek has on Monday announced that it has reached an agreement to acquire ROAM Africa's automotive marketplaces Cheki Kenya and Uganda.
Endeavor Nigeria has unveiled the inaugural cohort of entrepreneurs for its new 10-week Endeavor ScaleUp Program that aims to support Nigeria’s most promising, high-impact business leaders.
The Central Bank of Nigeria (CBN), announced the formal engagement of global fintech company, Bitt Inc., as the technical partner for its digital currency, named eNaira, which is due to be unveiled later in the year.
Dangote Petrochemical plant, situated alongside the Dangote Refinery, has been strategically positioned to cater to the demands of the growing plastic processing downstream industries; not only in Africa but also in other parts of the world.
Agricorp International, Nigerian based spices producing, processing, and exporting company has raised $17.5 million in Series A funding to increase its processing capacity up to 7000 metric tonnes.
Nigerian rental scheme company Rent4Less by Alpha Mead, announced it raised a fixed-rate series one $1 million private placement bond to entrench the culture of monthly rental in Africa.
The United Nations World Food Programme (WFP) received $1.2 million from the Republic of Korea to provide humanitarian activities for food crisis in Ethiopia, Nigeria, Madagascar, South Sudan and Burkina Faso.
Road Transport owners across Nigeria have expressed optimism that the 650,000 barrels per day Dangote Petroleum Refinery would deepen the downstream sector and positively impact their businesses.
The Jobs for Youth in Africa Strategy calls for the integration of jobs and skills for youth across Bank operations to maximize the impact on increasing employment opportunities.
MTN Nigeria CEO, Mr. Karl Toriola, speaks on the 20 years transformational journey of the telecoms revolution in Nigeria, its impact, and challenges.
Nigeria data center market will grow at a Compound annual growth rate, CAGR, of 17% during 2021-2026 according to a report by Research and Markets.
Nigerian mobility startup Plentywaka raised $1.2 million seed round, after successfully ending the Techstars Toronto Accelerator Program in July 2021. The startup also announced it has fully acquired Ghana’s mobility startup Stabus.
EMTECH partners with Global InfoSwift Consulting to provide capacity building for Nigerian financial regulators and service providers
EMTECH, a fintech for Central Banks, and Global InfoSwift (GIC), announced a new Nigeria-based partnership to deliver capacity building.
MTN Nigeria has appointed Odunayo Sanya as Executive Secretary of MTN Foundation. She replaces Nonny Ugboma who held the position from January 2009 to March 2021.
The african|markets team is proud to announce the launch of the public version of the Research, an Africa-focused research distribution platform that connects investors to some of the best equity analysts covering Africa’s frontier markets.
Earth Networks, a global provider of weather intelligence, announced it formed a partnership with the Nigerian Meteorological Agency (NiMet).
The Nigerian Communications Commission (NCC) and the Nigeria Economic Summit Group (NESG) are considering possible areas of increasing collaboration to enhance the impact and contribution of telecommunications sector on Nigeria’s socio-economic development.
PGS announced that an additional 1000 sq. km of reprocessed 3D data from OPL 248 is now available, completing PGS Niger Delta 2020 Reprocessing package and is well-timed for a reassessment of Nigerian offshore exploration opportunities.
The African Development Bank Group has announced the 18-month debarment of Sargittarius Nigeria Limited and its affiliates, including Sargittarius Henan Water Conservancy Engineering Limited, with effect from 28 July 2021.
Through its Nigerian Gas Flare Commercialisation Programme (NGFCP), the DPR noted that plans are ongoing to reduce gas flaring from the current single digits of eight per cent to five per cent in the country.
Nigerian companies scored better than global averages for some aspects of women’s participation in the workforce, but will need to further step up efforts to bridge the gaps that remain between women and men in the private sector.
The branches will extend 2Africa’s connectivity to the Seychelles, the Comoros Islands, and Angola, and bring a new landing to south-east Nigeria
Le programme de développement des qualifications dans le secteur du numérique dénommé Codage pour l’emploi, initié par la Banque africaine de développement a atteint le chiffre de 130 000 utilisateurs, indique l’institution dans une note publiée jeudi à Abidjan.
Decklar Resources announced re-entry operations at the Oza-1 well site continue to progress with completion of critical initial work activities including pulling the existing tubing and the 5 ½ inch casing that was inside the 9 ⅝ inch casing.
The target of the Federal Government is to increase Nigeria’s oil reserves from 36.91 billion barrels to 50 billion barrels in the short to medium term, the Department of Petroleum Resources has announced.
Mdxi-MainOne consolide sa position dans le developpement de l'écosystème numérique de l'Afrique de L'Ouest
MDXi, une entreprise de MainOne continue de consolider sa position de leader des data center en Afrique de l'Ouest avec le lancement de son nouveau data center à Appolonia City, au Ghana.
MDXi, a MainOne company, continues to consolidate its position as the leading Data Center Business across West Africa with the launch of its recent Data Center in Appolonia City, Ghana.
YahClick and its partner Hughes Network Systems, have signed a strategic partnership with Global Communications Extension Services Limited to provide satellite connectivity for 9mobile, one of Nigeria’s leading mobile network operators.
Building on their long-term relationship, Network International will be helping WEMA Bank increase its card-issuing capacity as well as support its ATM processing capabilities in Africa.
[Column] Ibrahim Moshood: What new Central Bank of Nigeria guidelines mean for mobile money operators
The new guidelines provide a robust coverage of the MMO value chain from service providers to subscribers and agents.
Microsoft to partner with Kenya and governments across Africa to transform education for Millions of students
Microsoft has committed to collaborate with the Ministry of Education in Kenya as well as governments across Africa to transform the education sector.
Ola Williams has been announced as the new Country Manager for Microsoft Nigeria.
Mokwe Welisane Nkeng est un Camerounais qui a fondé la Fondation Welisane, un centre d'entrepreneuriat social et à but non lucratif qui cherche à résoudre les problèmes qui affectent et empêchent les filles et les femmes de progresser dans la société.
Mokwe Welisane Nkeng is a Cameroonian who founded Welisane Foundation, a non-profit and social entrepreneurship hub which seeks to address issues that affect and block the girl child and women from advancing in the society.
Air Products, liquefied natural gas (LNG) technology and equipment provider, signed an agreement with SCD JV S.c.a.r.l, a joint venture of Saipem, Chiyoda and Daewoo, for the Nigeria LNG (NLNG) Train 7 project.
ADM Energy, a natural resources investing company with an existing asset base in Nigeria, announced the appointment of Oliver Andrews to the Board as Non-executive Chairman with effective 2 August 2021.
Nigerian Healthtech Startup Field Intelligence Expands into Eleven New Cities Across East and West Africa
Nigerian healthtech startup Field Intelligence has today announced its expansion into Rivers, Edo, Kaduna, Kano, Enugu, Delta and Kwara States in Nigeria, and Eldoret, Mombasa, Kisumu and Naivasha in Kenya.
PIC Group has entered into a 5-year service agreement with Azikel Petroleum Ltd. for the new Azikel Refinery to be located in Yenagoa, Bayelsa State, Nigeria.
Ecobank Group and the AUDA-NEPAD, held a virtual graduation ceremony for more than 200 alumni of the inaugural Ecobank’s MSME Training for Financing Program.
54gene launches trust to reinvest 5% of proceeds from Commercial Drug Discovery Programs on African scientists and communities
The creation of the trust is part of its Commitment to Africa in establishing a more sustainable and thriving cyclical ecosystem across Africa’s scientific development space, as well as ensuring better quality healthcare delivery for the communities in which the company operates.
Sirius Petroleum announced it signed a Memorandum of Understanding (MoU) agreement with Baker Hughes. The MoU appoints Baker Hughes as the approved services provider to Phase 1 of OML 65 Licence in western Niger Delta, Nigeria.
Nigerian start-up Cally Air (Calabar) has launched commercial operations between Lagos, Kano, Abuja and Calabar.
Oxford Foundry and FMDQ Private Markets, a subsidiary of FMDQ Holdings Nigeria, have launched a global partnership to accelerate the growth of Nigeria’s startup ecosystem.
Medical Credit Fund (MCF), the not-for-profit fund for financing small and medium-sized (SMEs) healthcare companies in Africa, announced the disbursement of its first loan within MCF2.
Nigerian-based AfriGlobal Insurance Brokers launched AfriCover247, a round-the-clock digital insurance transaction platform that will assist businesses, individuals and technology providers access and redistribute insurance products with ease.
Grifols, a global producer of plasma-derived medicines and provider of technologies and services for hospitals, clinics and compounding centers, announced it will establish an intravenous (IV) solutions production plant in Nigeria.
In a world where cybercrime remains rife and is only fuelled by aspects like the pandemic, there is never a moment one should not consider the implications of a cyberattack, warn Kaspersky researchers.
Verimatrix, Renmore Partners collaborate to offer scalability and affordability for digital TV switchover in Nigeria
Verimatrix, the leader in powering the modern connected world with people-centered security, announced that Renmore Partners selected Verimatrix’s conditional access technology to offer Nigerians cost-effective at-home entertainment.