Fintech SeerBit partners Wix to empower eCommerce businesses in Africa

NIGERIA – SeerBit, an online payment processing platform, has announced its partnership with Wix, a global SaaS platform, to create, manage and grow an online presence, to empower and scale eCommerce businesses in Africa. SeerBit is a product of Centric Gateway, an innovative Pan-African tech solutions company enabling seamless and secure payments across East and West Africa. This collaboration makes SeerBit a payment gateway for Wix on the African continent, processing payments in local currencies, and giving unfettered access to African businesses to build their unique online presence. This integration…

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Uber, Mastercard boost payment digitalization and financial inclusion across MEA

MEA – Mastercard, an American multinational financial services corporation and Uber, a technology company have partnered to implement a new strategic initiative that will focus on digital payments and advancing financial inclusion in the Middle East and Africa (MEA), reaffirming their long-term partnership. By partnering, Uber will be able to drive digitisation across its business operations by leveraging Mastercard’s single infrastructure to meet all types of payment needs across Uber Rides, Uber Eats, Uber Pass, and Uber for Business. Amnah Ajmal, Executive Vice President Market Development, Mastercard, MEA explains that…

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Africa Data Centres to construct 10-megawatt data centre facility in Nigeria

NIGERIA – Africa Data Centres, Africa’s largest network of interconnected carrier- and cloud-neutral data centre facilities, has confirmed a significant investment into the construction of 10-megawatt new data centre facility in Lagos, Nigeria. The Lagos build marks a significant step forward in Africa Data Centres’ ambitious long-term strategy to digitise Africa. The Nigerian data centre will form Africa Data Centres’ West African hub. As interconnection remains a priority, the company will be adding it to its network of data centres, which at present includes Johannesburg, Nairobi, Cape Town, Harare and…

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Edtech startup Kezakoo secures US$221,000 to complete and enrich its range of products

MOROCCO – Kezakoo, a Casablanca-based edtech startup specialized in tutoring, has completed its first round of financing of 2 million dirhams (US$221,000) to complete and enrich the range of products which it currently offers for the benefit of all high school students in Morocco. The investment was from investment company Witamax One, which was jointly created by the Morocco-based investment firms Southbridge A&I and AXXAM Family Office. The funding will also assist the startup to support its organizational development efforts. Launched in 2019 by the engineering duo Youssef Ghalem and…

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First intra-African trade transaction worth US$270m successfully completed

AFRICA – The first intra-African trade transaction through blockchain technology worth US$270 million has just been successfully completed between Morocco and Ethiopia, according to the Office Chérifien des Phosphates (OCP), one of the world’s leading phosphates fertilizer suppliers. The first of its kind in Africa, the transaction involving the export of fertilizers from Morocco to Ethiopia was carried out thanks to the collaboration between Dltledgers, a company specializing in the digitization of trade and the Bank of Commerce and Development of East and Southern Africa (TDB). “Dltledgers made available its…

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I&M Bank names Oliver Fowler as new chairman following the retirement of Suresh Raja

KENYA – Financial services firm, I&M Bank Limited, has announced the appointment of Oliver Fowler as its new chairman following the retirement of Suresh Bhagwanji Raja Shah. Shah is the founder of the bank and has served as its chairman since 1974. A statement from the bank said Shah will continue to remain on the Board as a Non-Executive Director. Founder and Chair since its inception in 1974, SBR Shah, a seasoned career banker has led the lender through its myriad of milestones such as acquisitions: of Biashara Bank, Giro…

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MTN opt for FinTechs in Nigeria for its customers to buy airtime following feud with Banks

NIGERIA – MTN Nigeria, a subsidiary of telecommunications company MTN Group, has announced ten alternative channels for its customers to buy airtime for their mobile devices after commercial banks disallowed MTN subscribers to use their channels. All the commercial banks, except Zenith Bank which was connected directly to MTN, thereafter barred MTN from their banking channels, leaving many MTN subscribers stranded and frustrated as they were unable to recharge airtime through USSD and bank apps amid the Easter celebrations.  “It will interest you to note that for the benefit of…

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Ethiopia issues new telecoms license application deadline

ETHIOPIA – The government of Ethiopia has once again extended the deadline for telecom companies to bid for new operating licences. In a communication through social media, the Ethiopian Communications Authority (ECA) said it had taken the eleventh-hour decision in response to requests from bidders, pushing the deadline from 5 April to 26 April, 2021 10am local time. ECA said on Twitter: “Due to requests by bidders to have more time to finalize their offer in light of Covid-19 market environment, ECA determined their question to be appropriate and the…

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Construction group Stefanutti Stocks sells mining services units for US$5.5m to reduce debt

SOUTH AFRICA – Stefanutti Stocks Holdings, one of South Africa’s leading multidisciplinary construction groups, is selling its mining services division, comprising the materials handling and tailings management sub-divisions, but excluding the contract mining sub-division, for US$5.5 million, the company has disclosed. The buyer, whose name was not disclosed, would pay cash and the deal formed part of the restructuring that Stefanutti was implementing, following the appointment of a restructuring team to formulate a turnaround programme for the group. The restructuring also envisaged the securing of short term funding and the…

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Co-op Bank and eco.business Fund join forces to boost agribusiness in Kenya

KENYA – Co-operative Bank of Kenya, a tier one lender in Kenya, has secured US$10 million loan from eco.business Fund, a Luxembourg-based impact investment fund for on-lending to agribusinesses. The Nairobi Securities Exchange listed lender said it had received the subordinated loan from eco business Fund and will extend the same to sustainable agribusinesses, such as those in the coffee and tea. The facility marks the first investment in Kenya for eco-business Fund, a specialist in promoting use of natural resources, and mitigating and adapting to climate change. Co-op Bank chief executive…

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