Hola,
Victoria from Techpoint here,
Here's what I've got for you today:
- Airtel Money may go public
- Nigeria pauses plans for space exploration
- ORA gets $1.5m seed
Airtel Money may go public
Airtel Africa is thinking about taking its mobile money unit public.
Word on the street is the telco is eyeing an initial public offering that could value Airtel Money at over $4 billion!
Airtel Africa has been in talks with potential advisers about this IPO, and it’s considering listing Airtel Money on various stock exchanges, including ones in the UAE, London, and Europe.
However, nothing is set in stone just yet. You never know if the telco will back out. And as for the nitty-gritty details, like when this IPO might happen or how much it'll be worth, that's all still up in the air.
In 2021, TPG splashed $200 million into Airtel Money, valuing it at $2.65 billion. Mastercard also tossed in $100 million. Airtel Africa mentioned way back then that it was thinking about going public within four years.
Nigeria pauses plans for space exploration
Nigeria's big plans for space exploration just hit pause.
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The National Space Research and Development Agency (NASRDA) is putting the brakes on its plans to launch a satellite from Nigeria in 2025.
Why the delay? Well, it all comes down to money. NASRDA is cash-strapped and can not afford to launch the satellite.
Halilu Shaba, Director-General, admitted that launching a satellite and sending an astronaut into space are mega-expensive endeavours.
He explained that it could take up to five years to secure a launch slot, and by then, the chosen astronaut might be too old for space travel.
Despite these setbacks, NASRDA is keeping its chin up. Shaba mentioned that they've got a solid team in place and even have a blueprint for the satellite they want to build. But without more funding, it's all just talk.
On the bright side, NigeriaSat-2, the Earth observation satellite launched in 2011, is reportedly going strong. It's been busy snapping high-resolution images of Nigeria, Africa, and beyond.
Hold onto your hats! Back in October 2023, the space agency disclosed plans to level up its game with a high-resolution satellite to tackle security issues, like pinpointing problems, tracking bandits, and staying ahead of terrorist movements.
Now, with the delay in launching a new satellite, does this mean the agency is hitting pause on this game plan?
ORA gets $1.5m seed
ORA Technologies, a startup based in Morocco, just got $1.5 million in seed funding from some local entrepreneurs.
It’s planning to use the cash to launch its e-wallet, which lets you transfer money instantly. It’s teaming up with M2T, a part of a bank in Morocco — Banque Centrale Populaire — to make it happen.
But get this: Four months ago, the company snagged $1 million in pre-seed funding from local private investors. Talk about riding the wave!
The brains behind ORA is Omar Alami, who kicked off the platform in 2023. Its app's been downloaded over 300,000 times, offering all kinds of services in one place, including peer-to-peer transactions, buying and selling products, chatting with folks, connecting with friends and family, and even getting food delivered.
With M2T on board, the Moroccan startup plans to roll out a social fintech feature. That means you can chat and do transactions right in the app.
In case you missed it
- Bolt adds DR Congo to its recent Africa launch spree
- 30Med, an Egypt-based healthtech, raises pre-seed funding to expand operations
- Ten startups join the Innovest Ignite accelerator for Nigerian founders
- Nigeria demands info about the top 100 Binance users as the exchange executives remain detained
- As bitcoin cracks $72k, here are 4 ways to take advantage of the crypto bull run safely
- MTN and Omnispace team up to enhance Africa's 5G connectivity
What I'm reading and watching
- TikTok ‘Ban’ Bill Passes in the House
- Dr. K: "There Is A Crisis Going On With Men!", “We’ve Produced Millions Of Lonely, Addicted Males!”
- How Imaginary Numbers Were Invented
Opportunities
- Seedstars has announced INFUSE 2024, a global invitation for innovative applications aimed at fortifying health systems against climate threats and improving immunisation delivery. Apply here.
- Consensys is hiring a Software Engineer. Apply here.
- Nethermind is looking for a product manager. Apply here.
- Application for the Meltwater Entrepreneurial School of Technology (MEST) Class of 2025 is now open. Check out the one-year, fully sponsored, graduate-level programme in tech entrepreneurship here before March 18, 2023.
- Do you live in Nigeria and work with a local or foreign company? Whether it's remotely, on-site, hybrid, full-time, part-time or as a freelancer, @TheIntelpoint is trying to understand the Nigerian workspace: how you work, and toxicity in the workspace among others. Please, fill out the questionnaire here.
- Explore this website to find multiple job opportunities in Data that align with your preferences.
- If you are a software engineer, creative designer, product manager, design researcher, or a techie looking for an internship role, please, check out this website.
Have a beautiful Thursday!
Victoria Fakiya for Techpoint Africa.
