From Lagos to Nairobi

Kenya’s largest bank, KCB Group, is acquiring a 75% stake in fintech startup Riverbank Solutions for $15.4 million (KES 2 billion) to boost its digital payments and revenue collection services. The deal, pending regulatory approval, aligns with KCB’s strategy to expand its digital footprint amid growing competition. Founded in 2010 by Nick Mwendwa, Riverbank Solutions…

Elon Musk’s Starlink has rapidly climbed to become Kenya’s seventh-largest ISP, overtaking local players like Dimension Data and Liquid Telecommunications. With 19,146 users and a 1.1% market share, Starlink’s satellite broadband is expanding internet access, especially in remote areas where traditional ISPs struggle. However, regulatory challenges loom, as local competitors like Safaricom and Airtel Kenya…

African businesses face high logistics costs, making goods more expensive. Nairobi-based Leta is tackling this issue with an AI-powered platform that optimizes delivery routes, tracks shipments, and reduces fleet costs. The startup has now raised $5 million in seed funding, led by Speedinvest, with backing from Google’s Africa Investment Fund and Equator. Leta’s technology helps…

Ghana and Turkey are strengthening bilateral ties, focusing on cybersecurity and digital innovation. During a meeting between Turkish Ambassador H.E. Huseyin Gungor and Ghana’s Minister for Communication, Digital Technology, and Innovation, Hon. Sam Nartey George, both parties explored opportunities for collaboration. Key areas of interest include cybersecurity, education, and digital infrastructure development, with Ghana’s National…

Africa’s telecom sector is at a critical turning point, with mobile penetration soaring to 527 million subscribers. However, outdated systems are struggling to keep up with rising customer demands, 5G expansion, and complex market conditions. This is where BSS (Business Support Systems) and OSS (Operational Support Systems) come into play, helping telcos integrate operations, improve…

IHS Towers has delivered a strong financial performance for 2024, exceeding revenue, EBITDA, and cash flow targets while optimizing capital and strengthening market contracts. The company reported revenue of $1.71 billion, a 48.1% organic increase year-on-year, with Adjusted EBITDA of $928.4 million, surpassing guidance. Strategic initiatives included renewing key contracts with MTN and Airtel Nigeria,…