Naspers delays listing on the Euronext till September
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Vodacom is selling its Africa assets in five countries to streamline its operations and focus on its core mobile network operations. Synergy Communications will acquire its assets in Nigeria, Ivory Coast and Zambia, Vodafone Ghana will acquire its Ghana assets while Internet Technologies Angola will take possession of its Angola assets. Vodacom will no longer directly service global enterprise customers in the five markets but will enter into service agreements with the aforementioned local companies.
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| A new bill that will require Kenyan telcos to separate their core businesses from payments and other services is about to be passed into law. According to the bill, telcos will be required to apply for licenses from the respective regulators of the sectors they want to operate in. If passed into law, existing businesses will have six months to comply. There have been attempts to split Safaricom in the past, this bill appears to be targeted at the telco which currently controls 70% of the mobile phone services market in the country. |
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| Join African governments, regulators, investors, development agencies, multinationals and entrepreneurs at TC Townhall: Renewable Energy on July 11 to discuss “The Future of Africa’s Energy”. We will be attempting to answer the question “How do we quickly build a modern energy infrastructure, that is affordable and provides last-mile access, using abundant renewable energy resources, in a friendly policy environment?” Register here to attend. |
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| KaiOS Technologies has confirmed that Orange participated in its $50 million Series B round led by Cathay Innovation. The partnership will allow millions of Africans without access to the internet to get connected through the devices powered by KaiOS. KaiOS is a Linux-based operating system that brings smart-phone like services to feature phones. Last year, Google led a $22 million funding round in the company. |
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| In more Orange news, the company has joined MTN and Vodacom in declaring interest in Ethiopia’s state-owned telco. Orange says it is considering a bid for Ethio Telecom and is also open to obtaining a license to compete with it when the government liberalizes the telco industry, possibly next year. |
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| Cryptocurrency platform, Luno is looking to increase its workforce by 60% following a rise in the value of bitcoin. The company which raised a $3 million round in 2015 led by Naspers will hire 150 new employees by the end of the year to join its software development team. The new employees will mostly be based in South Africa and the company will expand within Asia. |
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| Naspers has delayed its listing on the Euronext in Amsterdam due to an error in sending information to shareholders. The listing which was initially planned for July will now take place in September. The new company created for the purpose of the listing has been named Prosus and it will hold Naspers’ international assets including Tencent, Russian internet platform, Mail.Ru and U.S. online marketplace Letgo. |
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| Food and agritech startups can now apply to the Grow NY competition. Applicants have an opportunity to win a grand prize of $1 million. Learn more here and apply here before July 15. |
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| Cousant has released the 2019 Nigerian IT Jobs Report. The report highlights where the opportunities lie in the Nigerian IT sector for IT professionals. It also shows the IT skills that attract the highest salaries, the most requested job perks by IT professionals, among others. Get the report here. |
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| Passion Incubator is hosting Volker Kaese, Audi’s Head of Product Innovation on the 8th of July. If you are a startup operating in the smart mobility, Internet of things (IoT) and artificial intelligence space, register here for an opportunity to meet with him. |
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| Last Friday, Class 3 of Google’s Launchpad Accelerator Africa programme graduated in Lagos. The 12 startups in the cohort have raised $9 million in funding and created more than 120 jobs according to a press release. Applications are now open for Class 4 of the programme. Apply here before July 26. |
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Have a wonderful week
We’ll be back tomorrow
– Olanrewaju
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