As usual, we are ready with the weekly African Tech News Roundup. Have a delightful read!
The Abrupt Shutdown of Kwesé TV, Kwesé Sports and Kwesé Play
This week, Econet announced that Econet Media will no longer host the Kwesé TV, Kwesé Sports and Kwesé Play media because of the economic crisis facing Zimbabwe. The Group claimed that this recent development is due to the scarcity of foreign currency needed to pay up business partners. Interested in the press release. Read Here
MoneyFellows Set to Scale-up Business with $1 Million Funding Round
MoneyFellows, a fintech platform in Egypt has secured a $1 million pre-series A funding round, led by 500 Startups. The company has plans to grow and scale its digitized money circles between 2020 to 2021. Read More
Gona Secured Undisclosed Amount to Expand Nigerian Business
GONA, a mobile payment solution provider raised an undisclosed sum to scale business and upgrade technology. The sum will be used to expand mobility cashless payment services across Nigeria. Read More
Ghanaian and Nigerian Startups Made the Vodafone F-LANE Accelerator List
Amongst the startups on this year’s Vodafone F-LANE Accelerator list were AI-enabled coding platform, ‘Developers in Vogue’ from Ghana and Nigeria’s healthcare startup, ‘Rubi Health’. These two startups will participate in the accelerator scheduled to take place in October 2019, alongside other selected startups in Berlin. Read More Here
MTN has Big Plans in Rwanda!
During the week, MTN Rwanda revealed plans to list on the Rwandan Stock Exchange and to acquire stakes in the Korea Telecom Rwanda Network (KTRN). If plans fall through, MTN will avail 20% of its Rwandan company for the public. Read More
Whatsapp and Instagram will be Renamed Soon
Facebook, the parent company of Whatsapp and Instagram, has revealed plans to rebrand two of their popular business subsidiaries, Whatsapp and Instagram. Soon, both apps will be respectively known as ‘Whatsapp from Facebook’ and ‘Instagram from Facebook’. Read More
African Infrastructure Investment Managers (AIIM) Secures $320 million for Pan-African Investments
South African –based private equity infrastructure fund manager, AIIM secured the sum of $320 million to fund projects across Africa. The company wants to fund projects in the power, transport and Energy sectors of Africa. Read More
Vivendi to Develop Kigali Cultural Village with the latest deal
Vivendi, a Paris-based mass media firm has signed a partnership deal with the Rwandan Development Board. As part of the agreement, the Kigali Cultural Village will be leased to Vivendi for 20 years, hence, creating an avenue for cultural development in the country. Read More Here
NOTS Solar to invest $70 million in Solar Electricity Project in Rwanda
A leading solar manufacturer in Amsterdam, NOTS Solar Lamps has partnered with the Rwandan government in a new deal. The company will invest $70 million in establishing a manufacturing facility for Solar Home Systems over the next five years. Read More
Diageo PLC Sets Aside $219 million for African Expansion Plans
Another multinational conglomerate, Diageo PLC has plans to pump in money into its business operations in Africa. The British conglomerate will invest $219 million in renewable sources of energy, rather than oil-based refineries across 11 of its 12 refineries in Africa. Read More Here
There you go! You have successfully reached the last gist on the Africa Tech News Roundup. Do check our website www.techgistafrica.com for more news and special gists in the African tech community.
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