Tuesday, 20 December 2016
Paystack Closes $1,3 Million Seed Funding From International Investors Including Tencent
Nigerian Fintech startup, Paystack have announced that they have closed a seed investment of $1.3 million from international investors Tencent, Comcast Ventures and Singularity Investments, with participation from Spark, M&S Partners, Tokyo Founders Fund, Blue Rinc Capital, Pave Investments, KIBS-CFY Partners, Michael Siebel, Justin Kan, Olumide Soyombo, Leonard Stiegeler and a number of other Angel investors. “Having painstakingly identified the many barriers that merchants on the continent have when it comes to online payments, we have built and refined a product for Africa that we hope will act as a catalyst for the continent’s online economy, be it on-demand services, e-commerce, travel & hospitality, financial services or entertainment. We know Africa’s digital economy has potential, many billions of dollars of potential, we simply need to unlock it and make businesses work better, faster and more effectively. Paystack will do this.” said Shola Akinlade, CEO of Paystack.
New African Magazine Lists The Top 100 Most Influential Africans For 2016
Credit: New African Magazine
New African Magazine, one of the oldest English language Pan African magazines as it has been published since 1966, has released its annual list of the “Top 100 Most Influential Africans” in 2016. The list features many well-deserved people across various industries and sectors and also features, notably, some people actively working in Afrika’s technology sector. Among those listed is Cameroonian Rebecca Enonchong, CEO of Appstech, Kenyan Agosta Liko of PesaPal, Nigerian Bosun Tijani of Cchub and iAfrikan’s (South African) Tefo Mohapi (yes, we know, shameful self-advertising but allow, it’s December ). The list is in its fifth year in 2016 and is put together by New African Magazine with the assistance and research of guest editors representing the different sectors and industries.
Liquid Telecom Has Acquired Raha, One Of Tanzania's Leading ISPs
Credit: Liquid Telecom
Liquid Telecom have announced that they have acquired a controlling equity stake in Raha. Raha is one of Tanzania’s leading Internet Service Provider (ISP) and it reportedly has over 1,500 business customers. “We are very pleased to announce that this transaction has received its final approval. The agreement enables Liquid Telecom to expand its footprint into Tanzania, a growing and dynamic African country,” said Nic Rudnick who is CEO of Liquid Telecom on the acquisition of Raha. Liquid Telecom’s fibre network will now span over 40,000km across 12 countries thanks to the acquisition of Raha, making it arguably the largest fibre network in southern, eastern and central Afrika.
Econet Media Have Acquired MTG’s Free-TV Broadcasting And Production Businesses In Ghana And Nigeria
Credit: Econet Group
Another acquisition in the news, this time it is Econet Media who have acquired MTG’s free-TV broadcasting and production businesses in Ghana and Nigeria. The deal likely signals how serious Econet Media is about being a worthy pan-African competitor to Multichoice’s Dstv. The previously announced sale of MTG’s free-TV broadcasting business in Tanzania to Econet Media is pending local regulatory approval and is expected to be concluded in Q1 2017. The African free-TV and production businesses of MTG generated sales of approximately $2,2 million and an EBIT result of -$2,8 million for the first 11 months of 2016, of which Ghana and Nigeria contributed with sales of $1,9 million and EBIT of -$1,1 million.