It’s Friday again! We wish you all an exciting weekend but before you go, here is today’s copy of the Big 5 Daily.
Popular ride-hailing firm, Uber has made move to go public as it plans to list on the New York Stock Exchange, in the anticipated stock debuts of the year. The decision to enlist came as smaller, ride-sharing rival Lyft prepares to list on the Nasdaq, an American stock exchange. The firm will launch its initial public offering (IPO) in April and might be valued as high as $120bn (£91.4bn).
Also, Global System for Mobile Communications Association (GSMA) has recently formed an initiative known as AFASG (Association Fraud Security Group) to handle severe fraud and security issues in the telecommunication sector in Africa. The newly formed initiative will be chaired by Unitel under a two-year mandate, renewable for an extra two years and valid after a thorough evaluation has been carried out on the past work.
A Nigeria-based waste management startup, Wecyclers has been awarded €200,000 by the King Baudouin Foundation African Development Prize. The Prize will allow Wecyclers to expand business further and increase impact at both national and international levels. An award ceremony will take place on June 12, 2019 in the presence of King Philippe and Queen Mathilde of Belgium at the Royal Palace in Brussels, Belgium.
Another news from Nigeria has it that a fintech company known as Amplified Payments Ltd has been acquired by One Finance Limited. The acquisition fee was not disclosed but the acquisition process began in March this year. The acquisition will aid OneFi in boosting its financial services offering by adding Amplify’s assets, trade and flagship products– AmplifyPay and mTransfers, to its growing portfolio.
Trending in the agrictech ecosystem, Farmcrowdy, one of Nigeria’s foremost agricultural platforms, just received $1 million seed funding from investors including Techstars, Ajayi Solutions, Cox Ventures and Social Capital. This additional seed investment will enable Farmcrowdy scale operations, expand into 20 Nigerian states, and bring more small scale farmers and sponsors into its program. It announced the launch of the Farmcrowdy Group and also a Series A fundraise that will occur later this year.
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Enjoy the weekend.
