The Citizens Watch Advocacy Initiative (CWAI) has lauded the Africa Investment Forum (AIF) outing in Marrakesh, Morocco, which witnessed a record-breaking $34.82 billion investment interest for projects across Africa in a groundbreaking effort. Project developers and investors looked at investment opportunities in several areas, including food and agriculture, renewable energy, mining, transport corridors, aviation, deep-water...
Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, and the West African Development Bank (BOAD), a regional financial institution mandated to drive economic unity and advancement in West Africa, yesterday announced a strategic Memorandum of Understanding (MoU), solidifying their joint commitment to promote infrastructure and economic progress across Western African states. Signed...
Despite being the main driver of the country’s economic progress for more than five years, Nigeria’s Information and Communication Technology (ICT) Sector is beginning to decline. According to Cardinal Stone Research experts, the slowdown is due to decreasing capital expenditure or capital expense intensity among key telecommunications operators. The industry recorded its lowest real-term growth...
In this edition of Ask An Investor, TechCabal spoke to Andile Ngcaba, chairman of Convergence Partners, about the state of digital infrastructure in Africa. In January, Convergence Partners, a pan-African ICT investment firm, announced that it closed its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million, surpassing its initial target by over 18%. The fund was backed...
Togo looks set to secure USD200 million from the World Bank to boost internet access and its electricity grid, as part of the Improved Digital Access and Electricity Access Project (IDEA), according to newspaper Togo First. If realised, the financing deal would be the west African nation’s biggest to date from the Bank and according...
TelOne, a Zimbabwean telecoms company, committed $2.4 million in the most recent upgrade of its broadband network, allowing it to increase capacity and reduce connectivity latency. This is despite the fact that legacy loans and network vandalism affecting 30 000 subscribers continue to be big drain on profitability. TelOne operates landline phone, VoIP, and data...
AirtelTigo was born from the merger of Airtel Ghana and Tigo Ghana in November 2017. The company was bought by the government in April 2021 and changed its brand name in June 2023. The Ghanaian telecommunications company AT (formerly AirtelTigo) announced on Wednesday November 1 that it had signed a joint venture agreement with Hannam...
MTN Uganda donates UGX 36 billion to Uganda Communications Universal Service and Access Fund for digital expansion. MTN Uganda has boosted the Uganda Communications Universal Service and Access Fund with UGX 36 billion for the year 2023 towards extending communications services to the underserved and unserved areas. All licensed telecom operator’s telecom in the country...
Raxio is already present in Uganda where it operates a 1.5 MW data center. The company also has facilities under construction in Ethiopia, Mozambique, DRC, Ivory Coast and Angola. Data center operator Raxio Data Centers announced on Wednesday October 25 that it had raised $46 million in equity capital from its shareholders Roha and Meridiam. This new...
Karl Toriola, chief executive officer of MTN Nigeria, has urged Nigerian states to invest in ICT parks. Toriola shared his views yesterday while presenting as a panelist at the 29th Nigerian Economic Summit Group (NESG29) in Abuja on the topic “Collaboration for Sustainable Economic Development” with the theme “Pathway to Sustainable Economic Transformation and Inclusion.”...
