Hello Guys,
Welcome to another interesting edition of your Big5 Daily, your number one stop for the latest stories in the African tech community.
Enjoy the read!
Africa50, an infrastructure financing initiative of the African Development Bank, has partnered with the government of Rwanda to set up a Joint Venture. The JV will be in charge of developing, financing and constructing the Kigali Innovation City. Way to go!!
Next, on the Big5, the planned merger between Airtel Kenya and Telkom has been halted. The announcement was made by EACC, Kenya’s Anti-corruption Commission over alleged misappropriation of funds by Telkom. Investigations are ongoing and in hopes that the merger will scale through and compete against Safaricom, the largest telco in Kenya.
Moving on, NowPay has secured $600000 to expand financial solutions in Egypt. The funding round was led by Endure Capital and 500 Startups would be used to further provide salary advances to employees of partner companies, with financial problems before the end of the month.
Good News! BBOXX secured the sum of $50 million to scale its business across Africa and Asia. The funding round was led by Mitsubishi Corporation and would be used to reach more people without access to modern utilities and electricity in both Africa and Asia.
And the last for today is the partnership between PCCW and Mauritius Telecom to launch a national mobile payment solution called my.t. The mobile app will serve as a means to bridge the digital gap and provide accessible financial services for the unbanked population.
Thank you for reading through. Please go to our social media channels @techgistafrica to read other interesting articles for the day.
Let’s do this again tomorrow!!