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Kenya to launch 1 million locally assembled smartphones by July

Kenya to launch 1 million locally assembled smartphones by July

Kenya, a vibrant hub of technological innovation in Africa, has embarked on an ambitious plan to roll out 1 million locally assembled smartphones by July.

The Kenyan government, in collaboration with industry stakeholders, is implementing the comprehensive plan to promote domestic smartphone assembly. “Based on feasibility studies undertaken, we can locally assemble smartphones at a unit cost of about $40. We’ve partnered with the private sector to ensure in the next two months, we can roll out our first consignment of low-cost smartphones,” ICT Cabinet Secretary Eliud Owalo said.

 

This endeavor is driven by the recognition that local production contributes to the national economy, creates employment opportunities, and enables technology transfer and skill development. The move marks a significant milestone in Kenya’s journey towards self-sufficiency and promoting a thriving digital ecosystem.

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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
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Irene is a Nigerian entrepreneur and passionate advocate for women’s economic empowerment in Africa.
Muhammad is an accomplished Egyptian entrepreneur and innovator in the education sector.
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TIZETI and Microsoft partner to bring affordable internet to 5 million people in Ivory Coast

TIZETI and Microsoft partner to bring affordable internet to 5 million people in Ivory Coast

TIZETI, one of the leading internet service providers in West Africa, has partnered with Microsoft to address the challenge of broadband underdevelopment in Côte d’Ivoire.

This collaboration aims to expand affordable and reliable internet access to more than 5 million people across the country, fostering digital inclusion and driving economic growth. Côte d’Ivoire, like many other African nations, faces challenges in providing widespread access to high-quality and affordable internet connectivity.

 

Recognizing this opportunity, Tizeti and Microsoft have joined forces to bridge the digital divide and empower individuals, businesses, and communities with seamless internet access. As part of the partnership, Tizeti will leverage its expertise in deploying cost-effective solar-powered Wi-Fi towers and its innovative “Complimentary Wi-Fi” model to provide affordable internet connectivity to underserved areas of Côte d’Ivoire.

 

Microsoft’s support will enable Tizeti to scale its operations and enhance its network infrastructure, ensuring that more communities can benefit from reliable broadband access. This partnership is expected to facilitate the implementation of digital initiatives in various sectors, such as education, healthcare, agriculture, and e-commerce, unlocking new opportunities for growth and development.

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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
Makole is an accomplished executive and fund manager making remarkable strides in South Africa’s energy industry.
Irene is a Nigerian entrepreneur and passionate advocate for women’s economic empowerment in Africa.
Muhammad is an accomplished Egyptian entrepreneur and innovator in the education sector.
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AfDB approves $11 million to facilitate fertilizer access for African farmers

AfDB approves $11 million to facilitate fertilizer access for African farmers

The African Development Bank Group Bank (AfDB) has approved an $11.7 million grant to facilitate access to fertilizers for smallholder farmers across the continent.

AFDB apportioned the funding to the African Fertilizer Financing Mechanism (AFFM). Established in 2006, the Africa Fertilizer Financing Mechanism seeks to enhance pan-African agricultural productivity by promoting using fertilizers. The AFFM works multilaterally, focusing on the critical transnational factors impeding fertilizer use to develop comprehensive strategies for jump-starting Africa’s stagnant agricultural productivity.

 

By facilitating access to fertilizers, the AfDB aims to boost agricultural productivity, enhance soil fertility, and increase farmers’ incomes, ultimately contributing to poverty reduction and economic development in rural communities. The initiative aligns with the Bank’s overarching goals of promoting inclusive growth, improving livelihoods, and achieving food self-sufficiency in Africa.

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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
Makole is an accomplished executive and fund manager making remarkable strides in South Africa’s energy industry.
Irene is a Nigerian entrepreneur and passionate advocate for women’s economic empowerment in Africa.
Muhammad is an accomplished Egyptian entrepreneur and innovator in the education sector.
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E3 Capital and Lion’s Head Climate Fund secure $48M to empower climate-focused startups in Africa

E3 Capital and Lion's Head Climate Fund secure $48M to empower climate-focused startups in Africa

E3 Capital (formerly Energy Access Ventures) and Lion’s Head Global Partners’ Climate Fund have hit the first close of their funding initiative at $48 million to back climate-focused startups in Africa.

The two firms have joined forces to bridge the funding gap and support promising startups addressing climate change challenges in Africa. The joint funding initiative will provide capital and mentorship, networking opportunities, and strategic guidance to the selected startups. This comprehensive approach aims to support entrepreneurs throughout their journey, from early-stage development to scaling their solutions, ensuring long-term impact and sustainable growth.

 

With the successful first close at $48 million, E3 Capital and Lion’s Head Climate Fund are poised to become key players in Africa’s climate innovation landscape, driving positive change and inspiring new entrepreneurs to tackle the continent’s pressing environmental challenges. The fund is being financed by several development finance institutions, including the @Netherlands Development Finance Company (FMO), Swedfund International, Proparco, the private sector financing arm of the French Development Agency (AFD) and Kreditanstalt für Wiederaufbau (KfW), the German development agency.

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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
Makole is an accomplished executive and fund manager making remarkable strides in South Africa’s energy industry.
Irene is a Nigerian entrepreneur and passionate advocate for women’s economic empowerment in Africa.
Muhammad is an accomplished Egyptian entrepreneur and innovator in the education sector.
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Madagascar gets $227 million from World Bank and the French Development Agency to boost climate-smart agriculture

Madagascar gets $227 million from World Bank and the French Development Agency to boost climate-smart agriculture.

The World Bank and the French Development Agency (Agence Française de Développement) are providing $227 million in financing to Madagascar to help the country boost its climate-smart agriculture sector.

The financing will improve agricultural productivity and resilience to climate change, strengthen agricultural value chains, and enhance access to markets and financial services for farmers, among others. Madagascar’s agricultural sector is particularly vulnerable, as it relies heavily on rain-fed crops. The financing from the World Bank and the AFD will help the country to implement climate-smart agriculture practices, such as using drought-resistant crops and planting trees to protect soil and water resources. This will help to boost agricultural productivity and resilience to climate change, and it will also help to improve food security and livelihoods in Madagascar.

 

The financing is part of the World Bank’s $1.2 billion Country Partnership Strategy for Madagascar, which aims to support the country’s development goals in agriculture, energy, health, education, and governance.

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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
Makole is an accomplished executive and fund manager making remarkable strides in South Africa’s energy industry.
Irene is a Nigerian entrepreneur and passionate advocate for women’s economic empowerment in Africa.
Muhammad is an accomplished Egyptian entrepreneur and innovator in the education sector.
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Khazna Data Centers and Benya Group team up to build a $250 million state-of-the-art data centre in Egypt

Khazna Data Centers and Benya Group team up to build a $250 million state-of-the-art data centerin Egypt

Khazna Data Centers and Benya Group have teamed up to build a $250 million large-scale data centre in Egypt.

The project aims to establish one of the largest data centres in the region, equipped with state-of-the-art facilities and cutting-edge technology.

The collaboration promises to unlock vast possibilities for Egypt’s booming digital economy and strengthen the nation’s position as a regional technology hub. With data consumption skyrocketing, this expansive data centre will cater to the escalating needs of businesses, organizations, and individuals, offering secure and reliable data storage and processing capabilities. The centre will have a capacity of 25 megawatts (MW) that is expected to double to 50 MW as expansion plans are implemented. The project aims to meet the region’s underserved data markets.

 

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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
Makole is an accomplished executive and fund manager making remarkable strides in South Africa’s energy industry.
Irene is a Nigerian entrepreneur and passionate advocate for women’s economic empowerment in Africa.
Muhammad is an accomplished Egyptian entrepreneur and innovator in the education sector.
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Global tech firm TELUS International expands operations to Africa

Global tech firm TELUS International expands operations to Africa

TELUS International, a leading digital customer experience innovator, has announced the expansion of its global operations to Africa.

The company has established operations in South Africa and Morocco and plans to add additional regional locations over the next several years. The expansion into Africa is part of TELUS International’s growth strategy, which is focused on providing high-quality customer experience solutions to global brands.

 

The company’s new locations in Africa will provide it with access to a large pool of talented and multilingual workers and a strategic location for serving customers in Europe, the Middle East, and Africa. The expansion of TELUS International to Africa is expected to bring several benefits to the region, including the transfer of technology and skills. The expansion is also expected to positively impact the African digital economy’s development.

 

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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
Makole is an accomplished executive and fund manager making remarkable strides in South Africa’s energy industry.
Irene is a Nigerian entrepreneur and passionate advocate for women’s economic empowerment in Africa.
Muhammad is an accomplished Egyptian entrepreneur and innovator in the education sector.
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M-Kopa secures $250 million in one of Africa’s biggest tech fundraisings

M-Kopa secures: $250 million in one of Africa’s biggest tech fundraisings

M-KOPA, a pioneering company in the field of asset financing and renewable energy solutions in Africa, has secured over $250 million in a combination of debt and equity funding.

M-KOPA’s asset financing platform has revolutionized access to essential goods and services in underserved African communities by leveraging mobile technology and innovative financing solutions. The firm enables its customers to acquire solar energy systems, smartphones, and other life-changing products through flexible payment plans.

 

The debt and equity funding will fuel M-KOPA’s ambitious growth plans, enabling the company to scale its operations, strengthen its technology infrastructure, and enhance customer experiences. By expanding its asset financing platform, M-KOPA aims to empower more individuals and small businesses with the necessary tools and resources to thrive. This investment comes at a critical time when access to affordable financing remains a challenge for many people in Africa.

 

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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
Makole is an accomplished executive and fund manager making remarkable strides in South Africa’s energy industry.
Irene is a Nigerian entrepreneur and passionate advocate for women’s economic empowerment in Africa.
Muhammad is an accomplished Egyptian entrepreneur and innovator in the education sector.
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Proparco backs DisrupTech Ventures with $5 million to invest in Egypt’s fintech space

Proparco backs DisrupTech Ventures with $5 million to invest in Egypt's fintech space

Proparco, a leading development finance institution, has invested $5 million in Disruptech Ventures to accelerate the growth of Egypt’s fintech sector.

DisrupTech Ventures is an early-stage venture capital fund aiming to provide seed funding to up to 28 startups. The VC fund raised $36 million from several investors, including Development Finance Institutions, Funds-of-funds and Family offices. The investment is projected to be an important financing source for Egyptian tech companies, which often struggle to raise capital to bring their innovations to market.

 

Launched two years ago, DisrupTech was established to support early-stage Fintech and Fintech-enabled digital services startups focusing on Egypt. The firm adopts a hands-on approach from the beginning, partnering with talented entrepreneurs to transform their vision into reality.

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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
Makole is an accomplished executive and fund manager making remarkable strides in South Africa’s energy industry.
Irene is a Nigerian entrepreneur and passionate advocate for women’s economic empowerment in Africa.
Muhammad is an accomplished Egyptian entrepreneur and innovator in the education sector.