ជំរាបសួរ,
Victoria from Techpoint here,
Here's what I've got for you:
- Blue Label Telecoms set to take control of Cell C
- Moniepoint scores a strategic investment from Visa
- Angola to sell stakes in key assets to attract investors
Blue Label Telecoms set to take control of Cell C
Blue Label Telecoms is officially set to take control of Cell C, a telco in South Africa, after communications regulator Icasa approved the transfer of the mobile operator’s spectrum and network licences. This is a major step forward for Blue Label, which already owns 49.5% of Cell C and has been working on turning the struggling company around.
The licence transfer approval has been big news, and it seems the market caught wind of it early. Blue Label’s share price shot up recently, hitting a 52-week high of R6.20/share on Thursday — a 71% jump in the past year. Investors are clearly betting that a Cell C comeback could give Blue Label the boost it’s been waiting for.
But here’s the catch: Cell C isn’t handing over its licences entirely. According to Icasa, the mobile operator will still hold and operate the licences, even as Blue Label (through its subsidiary, The Prepaid Company) takes over a controlling 53.57% stake. This setup keeps Cell C in charge of its licensed services while giving Blue Label the reins to steer the company’s future.
Cell C’s leadership, now under CEO Jorge Mendes, seems optimistic about the company’s recovery. Mendes has been busy laying out strategies to get the operator back on track, and this deal could be a game-changer.
Not everyone was on board with the licence transfer at first. Cell C’s empowerment shareholder, CellSAf, raised concerns about what they called a potential “asset stripping” by Blue Label. However, Cell C clarified that the licences remain with them—it’s just the ownership structure that’s changing.
Even the Competition Commission gave the green light to the deal last year, with some conditions to ensure fair play in airtime distribution and limit information-sharing issues. Now, all eyes are on the Competition Tribunal for its final approval.
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For now, this deal represents a fresh start for Cell C and a big opportunity for Blue Label to capitalise on the operator’s recovery. With investor confidence growing and a solid plan in place, it’ll be interesting to see how this shakes up the South African telecom landscape.
Moniepoint scores a strategic investment from Visa
Less than three months after locking in a massive $110 million Series C round, Nigerian fintech Moniepoint is making headlines again. This time, they’ve scored a strategic investment from Visa!
While they didn’t spill the exact amount, word on the street is that Visa threw in over $10 million. And apparently, Moniepoint’s still chatting with other investors to raise even more funds.
Moniepoint’s CEO, Tosin Eniolorunda, is pumped about the partnership. “Visa’s backing is a big nod to our mission to digitise and empower African businesses. Together, we’ll help SMEs thrive in this fast-moving digital economy,” he said.
Visa’s move into Moniepoint isn’t just random — it’s part of a bigger plan to deepen its footprint in Africa. Visa already has a strong presence here through its card services but has been going all in on fintechs lately. They’ve been running the Visa Africa Fintech Accelerator, which has already worked with over 40 startups, including OkHi, Workpay, and Bumpa. Plus, they’ve invested in big names like Paystack, Flutterwave, and Interswitch.
Moniepoint’s numbers are wild — over a billion transactions monthly, totalling $22 billion! With Visa now on board, they’re working on expanding contactless payment options, something the Central Bank of Nigeria approved in draft guidelines last year. Oh, and Visa’s also joining Moniepoint’s board, so you know this partnership is serious.
Moniepoint is on a mission to make digital banking and payments smoother for Nigerian businesses and individuals. And with Visa in their corner, they’re set to shake things up even more.
Angola to sell stakes in key assets to attract investors
Angola’s getting ready to let go of some of its biggest assets to reel in investors. The government plans to sell stakes in Unitel — its telecom company — along with Banco de Fomento Angola and Standard Bank’s local unit.
Part of the Unitel sale will even hit the stock exchange! According to Jose de Lima Massano, the country’s Economic Coordination Minister, this is all part of a massive push to privatise state-owned businesses and move the economy beyond oil.
Since 2019, Angola has been chipping away at its list of nearly 200 assets for privatisation — over half are already sold! But if you’ve got your eyes on the oil company Sonangol or diamond firm Endiama, you’ll have to wait a bit longer. Massano says they’re still ironing out the details to make sure these companies deliver when they finally go to market.
Meanwhile, the government’s holding tight to its stakes in Portuguese heavyweights Banco Comercial Portugues and Galp Energia, thanks to their recent stellar performance.
In other news, Angola just took a huge leap into space with a €225 million deal to build and launch its very own Earth Observation Satellite System. The project, in collaboration with European aerospace giant AIRBUS, includes everything from construction to in-orbit installation. Talk about aiming high!
Finance Minister Vera Daves de Sousa signed the agreements during the Angola-France Economic Forum. But that’s not all — Angola’s also ramping up its meteorological services with upgrades for its national seismology network and modernising a Luanda lab for medicine quality control.
In case you missed them
- Nigeria’s central bank introduces compliance department to boost transparency in financial sector
- Governor of South Africa's Reserve Bank pushes against Bitcoin being held like gold reserves
- South Africa’s inflation rose to 3.0% for the second consecutive month in December 2024
What I'm watching
- Crazy Conspiracy Theories That Turned Out to Be True
- Islam vs Atheism | Oxford Debate (*OPEN COMMENTS SECTION*)
Opportunities
- Fast Forward Livestock Innovation Lab, in partnership with GIZ-SAIS, offers innovators the chance to turn their prototypes into commercially viable solutions for the livestock value chain, with up to ₦10 million in funding, expert mentorship, and guidance from an Entrepreneur-in-Residence. Apply here.
- The World Health Organization (WHO) is recruiting suitably qualified candidates to fill several roles. Apply here.
- Glovo is looking to fill certain roles in Nigeria, Kenya, Uganda and Morocco. Apply here.
- Kuda is looking to fill different roles. Apply here.
- Paystack is hiring for several roles. Apply here.
- Techpoint Africa is hiring a Market Research and Innovation Analyst. Apply here.
- Moniepoint is hiring for several roles. Apply here.
- Celebrate the New Year with delightful stories like Smart Couples. Call 421 on your Airtel line now — you won't be charged! Alternatively, call 07080601391 at your network's regular rate. Learn more here.
- Follow Techpoint Africa's WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a fun weekend!
Victoria Fakiya for Techpoint Africa.