TechCabal Daily – MTN invests $56.4 million

APRIL 6, 2022

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Twitter users may soon get their long-held wish: the coveted edit feature. 🙃

And it’s all down to Twitter’s newest board member, Elon Musk.

On Monday, Musk emerged as Twitter’s largest shareholder after buying a 9.2% stake in the company. Yesterday, Twitter CEO Parag Agrawal also announced that Musk would be join the twitter board.

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Hours after Musk’s poll went live, Twitter announced that he had been working on an editing feature since November and would launch a beta test among Twitter Blue followers to refine the feature.


In today’s edition

  • MTN SA invests $56.4 million in rural areas
  • UPS partners with Jumia
  • Thepeer and Paga team up
  • Event: ERA Brand Activation
  • Opportunities

CRYPTO MARKET

MTN SA INVESTS $56 MILLION IN RURAL AREAS

There have been some significant updates from MTN.

Yesterday the company announced a partnership with US investment firm and fintech firm JPMorgan to help spin off and grow its fintech arm which some estimates could be worth billions.

ICYMI: MTN has had a makeover. He is now transitioning from a telecommunications company to a technology company.

Its South African leader also announced plans to invest $56.4 million in rural areas. The money, according to MTN, will be used to upgrade existing network infrastructure and roll out new ones in Limpopo and Mpumalanga.

The South Africa Network Modernization Project (MONZA) will also include the expansion of the 5G network in South Africa. While more than 18 countries are still testing 5G in sub-Saharan Africa, South Africa is 1 out of 4 African countries, including Kenya, Nigeria and Zimbabwe, to have deployed a 5G network.

MTN is one of the 3 South African telecoms to have launched 5G but its reach across the country is not very wide. It faced a few challenges, including a dispute with the Independent Communications Authority of South Africa (ICASA) over spectrum allocation.

Currently, MTN’s 5G covers less than 25% of South Africa, but it looks like its new $56.4 million investment will help it reach its target of 25% by the end of the year. year. MTN’s 5G connectivity will be rolled out to 58 new locations, in addition to the existing 53.

Seventy-six new network sites will also be constructed in rural communities in Limpopo and Mpumalanga while 230 will be upgraded.

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UPS PARTNERS WITH JUMIA

Over the past two years, Jumia has improved its last mile delivery. From launching Jumia Express to improving its tracking features, people are getting their packages faster and with less hassle.

It’s not fast on Amazon again but it’s decent delivery and world-class operations. This became more evident yesterday when US delivery service UPS announced a partnership with Jumia to help it expand its reach in Africa.

How does Jumia help UPS?

Last mile delivery.

Lateral bar : Last mile delivery refers to the final stage of delivering a package. Simply put, it starts when the delivery service receives the package from the seller and ends when the package reaches the buyer.

UPS will now have access to Jumia’s last mile delivery infrastructure. According to TechCrunch, this means UPS customers can now pick up and drop off packages at Jumia stations in Kenya, Morocco and Nigeria.

This means people in those countries can now use UPS more efficiently for international deliveries.

Although this option is currently only available in these 3 countries, there are plans to expand it to other Jumia markets across Africa, which will give UPS access to the more than 3,000 pickup stations of Jumia across the continent.

Zoom out: After Jumia’s announcement, its shares JMIA increased by 29% from $9.48 to $11.82.

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THEPEER PARTNERS WITH PAGA TO ENABLE FLEXIBLE E-COMMERCE

Thepeer, a Nigeria-based startup that builds infrastructure for businesses to share data with each other, has partnered with leading mobile payments company Paga, to offer the latter’s users a faster and easier way to do Online purchases.

Paga is the latest company to integrate Thepeer’s payment API on its platform. The integration means the fintech giant’s millions of users can make payments online without giving out their card or bank details.

In other words, all Paga users taking advantage of the integration can shop on multiple online platforms integrated into Thepeer’s network, and easily pay with their Paga account.

With the Payment API, the customer experience on a website’s payment page is quick and easy.

“Our goal at Paga is to make it easier for people to access and use their money,” says Tayo Oviosu, Founder and CEO of Paga. “Thepeer has integrated our robust infrastructure for one-click payments, which simplifies online commerce, meaning customers have another option for fast, secure and easy payments through Thepeer checkout. You don’t need to give your card or bank details, just use your Paga account.

Paga turned 13 this month.

Founded in April 2009, the company, now a UK-headquartered group, has amassed over 19 million unique users through its consumer channel and agent network of over 120,000 agents across the Nigeria, while processing over $10 billion (₦4 trillion) since its commercial launch. operations in 2012.

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EVENT: EMERGENCY RESPONSE AFRICA (ERA) BRAND ACTIVATION

Emergency response in Africa organizes an event to redefine perspectives on medical emergency management, identify opportunities and encourage meaningful cross-sector collaborations.

At April 7, 2022, at Four Points by Sheraton in Lagos, Nigeria, various speakers will explore different perspectives on the theme of activation: Transforming Emergency Medical Services in Africa Using Technology.

Speakers include Shai Jaskoll, Regional Director of Development at United Hatzalah of Israel; Lanre Mojola, Managing Director and CEO of the Lagos State Security Commission; and Nike Jagun, investor at Rising Tide Africa, among others.

Register for the event here.

OPPORTUNITIES

  • the VFA Fintech Product Management Bootcamp is now open for applications. Anyone trying to accelerate their product career or looking to break into product management, especially in the fintech industry, can now apply to be part of the 12-week program. During the boot camp, participants will learn, among other things, how to conduct user research, communicate with stakeholders and use product analysis tools. Learn more.
  • the JAMII Women Program is now open for applications from women entrepreneurs in Nigeria, Kenya and Ivory Coast who are focused on creating sustainable solutions in the agricultural sector. One woman from each country will receive prizes of $10,000 and participate in a 2-week acceleration program. Check it out.
  • Applications are open for the 2022 edition of the African Business Heroes Competition for African Entrepreneurs. Entrepreneurs from the 54 African countries who contribute to the development of sustainable economies are invited to apply. Ten winning entrepreneurs will share $1.5 million, gain access to mentorship opportunities and gain global recognition. Take your shot.
  • the Acumen Accelerator 2022 for businesses serving displaced people is now open for applications from East African companies and startups that are creating sustainable living solutions for displaced people in East Africa. Selected startups will share up to $75,000 in grants. Learn more.
  • Applications are open for the Sound Connect Fund in Southern Africa 2022 to agree. Southern African NGOs and businesses that focus on and support the cultural and creative sector in Southern Africa are invited to apply for up to €180,000 in grants. Check it out.

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About Nereida Nystrom

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