Good day,
Múyìwá here.
It’s still the Easter season and, if you’re in Nigeria, there’s a 1 in 2 chance that you’re an MTN subscriber. Which means that after struggling all weekend, you can finally buy airtime on your MTN line to catch up with family and friends. So I’ll make this quick.
- You remember, in mid-March, that Airtel Africa announced raising $200m at $2.65bn valuation, from The Rise Fund, for its mobile money business? Well, it has apparently received an additional $100m, supposedly at the same valuation, this time from MasterCard. In addition to the investment, both parties have also signed a new deal that will deepen their partnerships across different regions and areas including card issuance, payment gateway, payment processing, merchant acceptance and remittance solutions, amongst others.
- After many failed starts spanning 13 years, Nigeria is finally witnessing significant progress with its latest national identification exercise. Ironically, the timing couldn’t be worse, spawning undesirable side effects. But things are definitely looking up. In this interview, Techpoint Africa‘s Emmanuel Paul explores the role that private companies are playing in the reformation, and lessons for the future. Read.
- TechCabal reports that West Africa-focused solar-to-home company, Baobab+ has raised €4 million in a bid to expand its services in Senegal and Côte d’Ivoire. Shell’s Energy Entrepreneurs Growth Fund (EEGF), the Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI-OGEF) and LHGP Asset Management participated in this round. Baobab+ should not to be confused with SSA-focused VC, Baobab Network or Lagos based Baobab Microfinance. Meanwhile, you should read: “Mini-grids and solar home systems: Why startups scale slower in the former“.
What else is in the news?
- Uganda’s Tugende closes $3.6M Series A extension to meet the demand for its asset finance products.
- Novel HIV vaccine approach shows promise in “landmark” first-in-human trial.
- African insurtech startup, Curacel, raises $450k pre-seed to expand to 10 new African countries.
- African eCommerce giant, Jumia raises $341m.
Enjoy the rest of your Easter break!
Múyìwá Mátùlúkò for Techpoint Africa.
