Raxio Group expands its Africa footprint with Ivory Coast’s first carrier-neutral data center

IVORY COAST – Raxio Group, a pan-African data centre developer and operator, has invested in the first carrier-neutral Tier III data centre in Ivory Coast as it looks to expand its African footprint. The data centre developer and operator has revealed it will invest in ‘Raxio Abidjan’, which will be the latest facility of Raxio’s expanding network across Africa.  Earlier…

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MTN to invest US$218m Series II Bond proceeds in network expansion

NIGERIA – Following approval from the Securities and Exchange Commission (SEC), MTN Nigeria has launched the book build in respect of the Series II 10-Year Fixed Rate Bond (Series II Bond) and have concluded plans to invest the proceeds from the book launch, which amounts to US$219 million in its network expansion drive, reports This Day. The telco had successfully…

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Africa Investment Forum plans US$45m vaccine production plant in East Africa

EAST AFRICA – The African Development Bank (AfDB) and its partners under the Africa Investment Forum are considering the establishment of a US$45 million vaccine plant in East Africa. While the location of the World Health Organization-prequalified vaccine production plant is not yet known, the facility will be capable of routine production of three vaccines, including for COVID-19. This will…

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Emirates to recruit 6,000 operational staff to support accelerated recovery

WORLD – Emirates plans to boost its operational workforce by planning to recruit more than 6,000 staff over the next six months. As restrictions ease worldwide with the wider administration of the vaccine, additional pilots, cabin crew, engineering specialists and ground staff will be needed to support the airline’s ramp-up of operations across its global network in response to the…

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Telecom Egypt secures US$500m loan to support its capital expenditure

EGYPT – Telecom Egypt has announced obtaining a new US$500 million medium-term syndicated loan to be used to support its capital expenditure and refinance existing short-term facilities. According to Telecom Egypt, First Abu Dhabi Bank PJSC and Mashreq Bank PSC were mandated as Joint Coordinators, Underwriters, Bookrunners, and Initial Mandated Lead Arrangers of the facility, similar to the medium-term syndicated…

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Agri-tech startup Vendease closes US$3.2m seed round to expand its operations

NIGERIA – Vendease, an agri-tech startup that lets restaurants and other food businesses buy supplies directly from manufacturers and farms, has secured a US$3.2 million seed round to expand operations and build out its technology. The funding round was led by Global Founders Capital with participation from Y Combinator, Hustle Fund, Liquid 2 Ventures, and Soma Cap. Other local investors…

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Multinational effort brings the first solar field to Burundi

BURUNDI – A multinational effort to bring solar power to Burundi has been realized with the commercial operation of the country’s first-ever solar field.   The pioneering 7.5 MW solar PV plant has increased Burundi’s generation capacity by over 10% and is the country’s first substantial energy generation project to go online in over three decades, supplying clean power to…

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Allianz completes acquisition of majority stake in Jubilee Holdings Uganda

UGANDA – Munich-based underwriter Allianz SE, has completed the acquisition of a majority stake in Jubilee Insurance Company of Uganda Limited. Allianz, one of the world’s leading insurers and asset managers, became the majority shareholder in Jubilee Insurance Company of Uganda Limited after completing the transaction to acquire a 66% stake in the company from Jubilee Holdings Limited (JHL), East Africa’s largest…

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Nigeria unveils digital currency after banning cryptos

NIGERIA – The Central Bank of Nigeria joined a growing list of emerging markets betting on digital money to cut transaction costs and boost participation in the formal financial system. The unveiling of the eNaira is a culmination of several years of research by the country in advancing the boundaries of the payment system, making transactions easier and seamless. The digital currency and…

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Gabriel Swanepoel named as the new Country Manager for Mastercard South Africa

SOUTH AFRICA – Mastercard has appointed Gabriel Swanepoel as the new Country Manager for Mastercard in South Africa, serving as a promotion from his current role as the Vice President of Business Integration for Mastercard, Southern Africa. As country manager, Swanepoel is responsible for further driving the company’s strategic vision, innovation and growth agenda and building on its successful purpose-driven…

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