Happy new week guys,
Welcome to another edition of the Big 5 Daily, where we bring you insightful innovative information happening around Africa.
Have a fun read!
We have news that the AfDB’s Board of Directors has approved funding for the Distributed Energy Service Companies (DESCOs). The fund will aid the deployment of off-grid solar power to 900,000 households and up to 4.5 million people across Sub Saharan Africa by 2025. Way to go Africa!
Social media giant, Facebook has been fined the sum of $5 billion by the United States of America Federal Trade Commission over privacy breach. The company is under the investigations of the FTC for allegedly sharing private information belonging to 87 million users.
Next, on the Big 5, the online platform that partners with Kenyan artisans to showcase and promote their products and services, Lynk has secured a Series A funding in a round led by Lateral Capital. They aim to use the undisclosed fund to expand to new markets and grow their B2B services.
There is also news that Mastercard acquired Transfast—a global payment cross-border network company. They will leverage this acquisition to enable people and businesses to run seamless cross-border transactions at a greater speed across over 100 markets.
Finally, WarnerMedia, an AT&T owned American multinational mass media and entertainment company, is set to launch its streaming service ‘HBO Max’. They will rollout on-demand video content and original content just like Netflix and Hulu.
…and there you have it for today’s edition of the Big 5 Daily!
Thanks for joining!