Nigeria-based health tech startup Helium Health has successfully raised $7 million in equity investment from two foreign investors. One of them is Dubai-based venture firm Global Ventures which, with this co-investment, is making its first interest acquisition in the health tech segment in emerging countries. The second contributor is Singaporean Asia Africa Investment and Consulting. The...

Mobile operator Safaricom has published positive financial results for the 2020 financial year, which ended on 31 March. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 13.5% to KSh101.5 billion ($947 million). The Mobile Data and Mobile Money (M-Pesa) segments, which were under heavy pressure from the spread of Covid-19, recorded considerable growth, and enabled...

Over the first quarter this year, MTN Nigeria’s general expenses grew by nearly N29.2 billion ($75 million), weakening the company’s good performance over the period. The Nigerian subsidiary of MTN Group ended the period with a net margin of N51.1 billion compared to N48.8 billion in Q1 2019. The company generated revenue of N321.9 billion, up 16.7%, thanks to a good performance in the...

The European Union says it will invest €194 million to fight growing terrorism in the G5 Sahel. According to the institution, “the serious crisis affecting the G5 Sahel and Lake Chad Basin States could spread to neighboring countries and even to the coastal countries of the Gulf of Guinea.” The money is additional funding that will be used to “strengthen the security forces and...

The Board of Directors of the African Development Bank on 15 April approved a $40 million financial package to support Angola’s Banco Millennium Atlântico (BMA) to bolster local production and job creation through its portfolio of small and medium-sized enterprises. The package consists of a $32 million line of credit from the African Development Bank and an additional $8...

African countries will have to postpone the implementation of the African Continental Free Trade Area (AfCFTA) due to the current coronavirus pandemic. The announcement was made yesterday April 28 by Wamkele Mene (pictured), the Secretary-General of the Single Market. While the implementation of the zone was already threatened by certain protectionist tendencies observed on the continent (in...

The Senegalese Telecommunications and Posts Regulatory Authority (ARTP) has decided to restructure the postal sector, which is operated by various operators providing postal operations and services, particularly the collection, sorting, routing, and delivery of mail and parcels. To put an end to any violation of Act No. 2006-01 of 4 January 2006 on the Postal Code, which stipulates in Articles...

The Communications Authority of Ethiopia (ECA) has drafted new guidelines for the award of new telecom licenses following the new telecommunications regulatory framework. They cover telecommunications licensing, consumer rights and protection, and dispute resolution. On 28 April 2020, to gather views, proposals, and counter-proposals of the various parties involved in the process of awarding new...

The government of Nigeria is seeking the approval of the Parliament to mobilize N850 billion (about $2.3 billion) on the local money market. This, the government said, is an alternative to an initial operation to raise funds on the international market to support external deficit. Data from the Debt Management Office show that the difference between the initial interest rates on the 11...

Sana Partners has acquired Brenn-O-Kem, a company specializing in the recycling of the wine byproducts in natural products primarily shipped to Europe, America, and Asia. The operation, whose details are not disclosed, was carried out through Sana's first investment fund. Mainly owned by black citizens, Sana Partners targets mid-cap companies with strong growth in the country to generate returns...