Global ecommerce sales grow 13% to reach US$29 trillion

Global ecommerce sales grow 13% to reach US$29 trillion

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GLOBAL – Global ecommerce sales increased by 13% to reach approximately US$29 trillion in the year 2017, according to latest figures from United Nations Conference on trade and development (UNCTAD). The number of online shoppers increased by 12% to 1.3 billion people,…

AfDB approves US$14.05m investment in Adiwale Fund 1 targeting Francophone West Africa

AfDB approves US$14.05m investment in Adiwale Fund 1 targeting Francophone West Africa

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WEST AFRICA – The Board of the African Development Bank (AfDB) has approved a €12.5 million equity investment in Adiwale Fund 1 targeting high growth potential Small and Medium Sized Enterprises (SMEs) in French speaking West African countries. With a target fund size…

Software developer Compulynx invest Sh30m in blockchain deal with US tech firm

Software developer Compulynx invest Sh30m in blockchain deal with US tech firm

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KENYA – Kenyan-based global software developer, Compulynx, has invested Sh30 million (US$297000) into a partnership with a US tech firm, Chainworks Inc, to develop a blockchain-based technology firm. According to a report by Business Daily, the new firm, Chainworks Africa, to be…

Seacom completes 100% acquisition of South Africa’s FibreCo

Seacom completes 100% acquisition of South Africa’s FibreCo

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SOUTH AFRICA – Seacom, a submarine communications cable operator has completed the acquisition of 100% shareholding in FibreCo Telecommunications for an undisclosed sum. Based in South Africa, FibreCo owns and operates a national fibre network providing infrastructure and connectivity services across the…