Cell C has reportedly failed to cough up the R288-million it owes Icasa for its participation in 2022’s spectrum auction. The Sunday Times is reporting (paywall) that Cell C has failed to cough up the R288-million it owes communications regulator Icasa for its successful participation in last year’s spectrum auction.
During the auction, held last March, Cell C successfully bid R288-million – the second least of all the operators participating – for a 10MHz sliver of spectrum in the 3.5GHz band.
The Sunday Times, quoting “several sources” it doesn’t name, said it wasn’t able to solicit comment from either Cell C or Icasa over the alleged non-payment..
Cell C CEO Douglas Craigie Stevenson
It is not clear whether the company is using the 10MHz of spectrum allocated to it in last year’s auction.
MTN and Vodacom were the big spenders in that auction, coughing up R5.2-billion and R5.4-billion, respectively, for frequencies in the 700MHz, 800MHz, 2.6GHz and 3.5GHz bands. Telkom spent R2.2-billion; Rain R1.4-billion; and Liquid Intelligent Technologies R111-million.
Cell C, which last year underwent a further recapitalisation of its balance sheet led by largest shareholder Blue Label Telecoms, no longer operates its own radio access network – the expensive part of a telecoms network that connects end users – having outsourced this function to Vodacom and MTN.
This is by design, as it minimises Cell C’s capital expenditure requirements – as the industry’s fourth largest GSM operator, it couldn’t afford to keep up with capex investments made by its bigger rivals.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
eMedia Holdings, the parent of Openview and e.tv, has filed papers against MultiChoice in the high court, MultiChoice.
This is after Openview published full-page advertisements in various Sunday newspapers in which it hinted that it had taken the matter on review.
Apparently written in the form of a poem, the ad states: “The court is engaged, the court will decide if digitally migrated Openview homes will get to the Rugby World Cup. The court will decide if Openview homes, who must pay TV licences, get to see the Rugby World Cup on SABC 2.”
The court will decide if digitally migrated Openview homes will get to the Rugby World Cup. It’s not the first time that Openview and eMedia have taken aim at MultiChoice over the rugby rights.
Last month, when it emerged that MultiChoice’s sublicensing deal with the SABC prohibited the public broadcaster from carrying the games on Openview, a free-to-air satellite platform that carries the SABC channels, eMedia threatened legal action against the pay-TV broadcaster. This threat came even though it wasn’t party to the discussions with the SABC and MultiChoice over broadcasting the games from the World Cup.
MultiChoice Nigeria
In an open letter to MultiChoice on 8 September, eMedia first threatened court action. That letter, which copied in sports minister Zizi Kodwa, communications minister Mondli Gungubele, trade, industry & competition minister Ebrahim Patel and Competition Commission head Doris Tshepe , accused MultiChoice of forcing a deal on the SABC that “undermines consumer welfare and is contrary to the public interest”.
‘Without merit’
The SABC reportedly paid US$2-million (about R38-million) that would allow it to broadcast 16 of the 48 Rugby World Cup games, including all matches involving the Springboks.
eMedia CEO Khalik Sherrif said in a statement about the SABC deal: “The anticompetitive action is nothing short of domination in trying to prescribe to the free-to-air partner on how to use its broadcasting rights. We believe the action should be strongly condemned and opposed. The 3.2 million households which have been affected by the decision should voice their dissatisfaction.”
A spokesman for MultiChoice said on Sunday that the company will oppose eMedia’s court challenge. “We are in receipt of the application served to us by eMedia. We consider the application to be without merit and have notified eMedia of our intention to oppose it.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Telkom has appointed Transnet’s Nonkululeko Dlamini as its new group chief financial officer with effect from 1 December. Dlamini will also be appointed as an executive director on the board.
At the same time, incumbent CFO Dirk Reyneke will step down from the board as of end-November and move into the role of chief capital projects officer. And non-executive director Mteto Nyati, who also serves on the Eskom board, has stepped down from Telkom, citing capacity constraints.
Nonkululeko Dlamini
New CFO Dlamini is currently CFO at Transnet, the deeply troubled state-owned logistics company. Before Transnet, she was CFO at the Industrial Development Corporation and acting CFO at Eskom, where she also held various other management positions.
Reyneke will work closely with Dlamini “to ensure her seamless transition to the group CFO role”, Telkom said.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Renew Capital, an Africa-focused impact investment firm, recently unveiled its participation as angel investors in Jamii.one, a pioneering micro-insurance startup dedicated to enhancing financial well-being in Ethiopia. Jamii.one is on a mission to transform Ethiopia’s financial landscape using a digital platform driven by community data.
The specific investment amount was not disclosed in the announcement. However, the collaboration between Renew Capital and Jamii.one is geared towards advancing financial inclusion throughout Ethiopia.
The genesis of Jamii.one dates back to 2018 when it was co-founded by a trio of visionary individuals, namely Charlotte Rønje (CEO), Daniel Brøndum Torp (CTO), and Tigist Bezu (COO). Jamii.one’s innovative approach hinges on its partnership with self-organized Ethiopian community groups known as “Idirs.” These community entities come together to pool monthly contributions, creating an informal cooperative-like insurance system that covers expenses related to funerals and other significant life events.
Jamii.one has harnessed the power of digitization to transform these financial contributions into a bridge, connecting unbanked communities with the formal banking sector. Tigist Bezu, co-founder and COO of Jamii.one, enthused about this unique synergy, saying, “When we entered the market, it didn’t take us long to introduce the Idir community to Jamii.one. After tailoring our product for Idir and enabling access to affordable group micro-life insurance, it was amazing to see the synergy of technology and community power.”
The Jamii.one mobile application has been thoughtfully designed to cater to individuals with low literacy levels. It boasts offline functionality and accommodates limited smartphone capabilities, making it accessible to a wider segment of the population.
Credits: Renew Capital
Jamii.one’s revenue model is built on partnerships with insurance companies, allowing them to offer tailor-made insurance products to their users. As of now, Jamii.one has successfully onboarded 400,000 users onto its platform, with over 50,000 users benefiting from their insurance coverage.
This investment by Renew Capital in Jamii.one marks another significant milestone for the microinsurance startup, following a string of successful capital raises in 2023. In June, Jamii.one accomplished an impressive feat by raising $840,000 via Seedrs, a prominent UK-based online equity crowdfunding platform for startups. This achievement exceeded their initial fundraising goal by an astounding 295%. Moreover, in May 2023, Jamii.one secured a generous €150,000 grant from the Swiss Capacity Building Facility (SCBF).
Jamii.one has set its sights on an ambitious goal of reaching 2.3 million users and expanding its product portfolio, with a particular emphasis on offering health insurance products to the masses.
Renew Capital, an advocate for innovative companies with exponential growth potential, maintains a notable presence across multiple African nations, including Ethiopia, Rwanda, Uganda, Nigeria, Kenya, and Tanzania. The firm manages investments on behalf of the esteemed Renew Capital Angels, contributing to the continued growth and success of ventures like Jamii.one.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
South African cryptocurrency startup VALR has achieved a significant milestone by processing over $10 billion in trading volume since its establishment in 2018. Founded by former Rand Merchant Bank executive Farzam Ehsani, VALR’s accomplishment highlights the growing presence of cryptocurrency trading in South Africa.
At the current exchange rate, this trading volume amounts to approximately R190 billion. VALR, which claims to be Africa’s largest Bitcoin exchange by trading volume, shared this achievement in a recent statement.
Farzam Ehsani, co-founder of VALR
Additionally, VALR announced that it has received preliminary approval from Dubai’s Virtual Assets Regulatory Authority (Vara) as part of its global expansion strategy. This expansion is being pursued through VALR’s subsidiary, VALR FZE.
Since its inception, VALR has successfully raised $55 million in funding and currently serves a customer base of over half a million retail clients and around 900 corporate and institutional customers. The company now aims to replicate its success on a global scale by establishing operations in Dubai and targeting markets in Asia, the Middle East, and the United Arab Emirates.
While this preliminary approval from Vara does not immediately permit VALR to offer virtual asset services in Dubai, it is considered a significant step towards the company’s goal of establishing a virtual asset exchange in the region. VALR emphasized its commitment to maintaining high standards of operational integrity, regulatory compliance, and security.
Farzam Ehsani, co-founder of VALR, expressed the importance of this milestone, stating, “Obtaining initial approval from Vara is a significant milestone that marks a major step forward in VALR’s global expansion plans.”
Blake Player, VALR’s head of growth, also noted, “We see Asia, the Middle East, and the United Arab Emirates as attractive markets with significant crypto flows. Dubai is quickly gaining recognition as a forward-thinking and pragmatic jurisdiction for crypto businesses.”
In conclusion, VALR’s achievement of processing $10 billion in trading volume over five years illustrates the growing presence of cryptocurrency trading in South Africa. Its plans for international expansion through its Dubai offices reflect its ambition to further contribute to the global cryptocurrency landscape while adhering to regulatory standards.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
MultiChoice Group has announced that it will phase out Showmax Pro ahead of the planned relaunch of the Showmax platform by the end of the year.
In a notice to subscribers posted on the Showmax website, MultiChoice explained that with the upcoming relaunch of Showmax, its sports offering will focus exclusively on Premier League football, which it described as the most-watched football league in Africa.
“Showmax Pro in its current form will be phased out by 30 November. More details around the refreshed pricing and the product will be shared soon,” MultiChoice said.
MultiChoice
Existing Showmax Pro customers in South Africa will be offered a DStv Compact Plus Stream package. Showmax Pro offers the basic Showmax entertainment tier coupled with various sports matches provided by sister company SuperSport. Until now, Showmax Pro has carried not only Premier League football but also the UEFA Champions League, LaLiga, Serie A, the FA Cup and more. It has also shown athletics, running and boxing events.
“We want to make sure that our Showmax Pro customers are still able to access the sport they love. As part of this product change, existing Showmax Pro customers in South Africa will be offered a DStv Compact Plus Stream package at the same price as Showmax Pro.”
DStv Stream Compact Plus is currently priced at R549/month, while Showmax Pro costs R349/month, meaning Showmax Pro customers will save R200/month and get access to more sports, including selected Rugby World Cup 2023 games.
Showmax Pro
“Customers will be able to stream 115 live channels, access the full catalogue of the DStv video-on-demand library and continue to have full access to Showmax’s entertainment catalogue,” the group said. The deal is exclusively available to existing Showmax Pro customers, who will receive communication from MultiChoice about how to sign up. The offer is not available to Showmax Pro mobile-only subscribers.
From 1 October, Showmax Pro will no longer be available for subscription.The changes come as MultiChoice prepares for a significant overhaul of Showmax, expected by year-end.
Speaking to TechCentral in June, MultiChoice Group CEO Calvo Mawela said “version 2” of Showmax will include strategic and technical input from new partner and co-investor NBCUniversal.
MultiChoice announced in March that NBCUniversal would acquire a 30% stake in Showmax as part of a plan to build the leading internet video streaming platform in Africa.
The agreement, which includes NBCUniversal sister company Sky – both firms are owned by Nasdaq-listed media giant Comcast — includes the supply of technology as well as new content to Showmax subscribers. MultiChoice has retained a 70% stake in the business.
“Powered by Peacock’s leading, globally scaled technology, Showmax subscribers will have access to an extensive premium content portfolio, bringing African audiences the best of local and international programming,” MultiChoice said in March. Peacock is NBCUniversal’s streaming platform.
“The service will combine MultiChoice’s accelerating investment in local content with a pipeline of award-winning and critically acclaimed international content licensed from NBCUniversal and Sky, third-party content from HBO, Warner Brothers International, Sony and others, as well as live English Premier League football,” it said.
Said Mawela: “Showmax version 2 will launch in the fourth quarter with a broader line-up of content, a better product offering, better user interface and more streams on live sport, and will be underpinned by the English Premier League.”
Showmax will remain a separate offering, distinct from DStv and “appealing to a streaming population that continues to grow” and who “might want sport as part of that offering”.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
“It Is time for Africa to take her destiny in her own hands and to determine her own developmental agenda. However, doing so will not be easy. It will require commitment, courage, and deliberate action. Traders need to seek out new market opportunities rather than the conventional route of turning to markets abroad”. Rallying words from Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade Bank, Afreximbank (www.Afreximbank.com), in her opening remarks as she addressed delegates at the High-Level Business Roadshow in Algiers, Algeria.
Mrs. Awani congratulated Algeria for becoming a Member State of Afreximbank in June 2022. She stated that the African Continental Free Trade Area “promises to revolutionise trade, reshape markets across the region, boost output in the manufacturing and service sectors, and fundamentally transform Africa’s economic structure”. She lauded the opportunities that it will provide to Algeria’s businesses. She also explained the broad range of Afreximbank programmes and initiatives that can facilitate Algeria’s intra-African trade, such as the Africa Collaborative Transit Guarantee Scheme, which will mean for example that goods going from Algiers, Algeria to Lagos, Nigeria, will not need “a Customs Bond on every border as is the case today.” She also discussed the Bank’s programmes that support trade-enabling infrastructure especially those that address mobility and connectivity (road, rail, air, maritime, ports and logistics).
Mrs. Kanayo Awani, Managing Director of Afreximbank’s Intra African Trade Initiative
Speaking about the Intra-African Trade Fair, she said that it was created “to deal with the challenges of lack of access to trade and market information” and she praised the Algerian Government for deciding to hold a Country Day at IATF2023 in Cairo, saying that “it gives me confidence that Algeria is poised to lead the charge for African trade.”
The High-Level IATF Roadshow in Algiers also featured an impactful panel session themed: ‘Seizing opportunities under the AfCFTA: Empowering Manufacturers, Exporters, Investors, and relevant industry players’ that provided a platform for insightful discussions on a range of trade-related issues.
In his closing remarks, Mokhtar Gamil Tawfik Warida, Ambassador of the Arab Republic of Egypt in Algeria, informed Roadshow delegates that “Egypt is ready to welcome Algerian businesses and companies to participate in the Intra-African Trade Fair, conference, and exhibition from 9 – 15 November. Egypt and Algeria have strong potential, they have strong will and the capacity to be leaders of economic cooperation in Africa and to bring to fruition the pan-Africa Free Trade Area.”
H.E. Mr. Youcef Cherfa, Minister of Transport, represented the Minister of Trade and Export Promotion, Algeria, at the Roadshow, while H.E. Wamkele Mene, Secretary-General, AfCFTA Secretariat, was represented by Hamadou Karidio, Head of AfCFTA Liaison Office, AfCFTA Secretariat.
The informative Roadshow provided persuasive reasons for the Algerian business community to fully engage with the transformational opportunities created by the AfCFTA and to attend the Intra-African Trade Fair (IATF2023) which is being held from 9 to 15 November 2023 in Cairo, Egypt. The Algerian private sector has compelling opportunities to target a significant share of the US$43 billion of trade and investment deals expected to be concluded at IATF2023 by joining the 1,600+ exhibitors and the 35,000+ buyers, visitors and conference delegates.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The Iranian Foreign Minister Hossein Amirabdollahian held a phone conversation with his Tanzanian counterpart January Yusuf Makamba on Friday and exchanged views on bilateral ties and issues of mutual interest.
During the phone call, the Iranian foreign minister congratulated the government and Muslims of Tanzania on the birth anniversary of Prophet Muhammad (PBUH). Amirabdollahian congratulated the Tanzania foreign minister on his appointment to the post. He referred to the historical relations between the Islamic Republic of Iran and the Republic of Tanzania, and also the diverse capacities in both countries.
Iranian Foreign Minister Hossein Amirabdollahian
He also emphasized Iran is ready to reinforce bilateral ties, especially for economic, scientific and technological cooperation.
For his part, Makamba thanked the Iranian foreign minister and expressed his country’s readiness to develop its bilateral ties with Iran.
The Tanzania foreign minister reiterated that his country’s president has invited Iranian President Ebrahim Raisi to visit Dar es Salaam.
During the talks, both sides touched on the recent meeting of the presidents of the two countries on the sidelines of the BRICS summit in South Africa, and agreed to hold a joint commission between the two countries in the near future.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
SAMA Money Group, a fintech company specializing in digital financial services and owned by Malian entrepreneur Daouda Coulibaly, has revealed the acquisition of the First Microfinance Agency (PAMF) Mali, a microfinance institution previously under the control of AKAM. Following this acquisition, PAMF now operates within the SAMA Money Group under the name “SAMA Finance,” with a clear mission to enhance the group’s contribution to financial inclusion for the unbanked population by offering accessible digital microfinance services to all.
It’s worth noting that this transaction, for which financial details have not yet been disclosed, occurred just two weeks after SAMA Money received approval as an Electronic Money Establishment (EME) from the Central Bank of West African States (BCEAO). This achievement solidified the unique status of SAMA Money as a fintech founded by a West African entrepreneur to hold such a designation.
Daouda Coulibaly, CEO of SAMA Money
Daouda Coulibaly, CEO of SAMA Money, expressed his enthusiasm for this acquisition, stating, “This acquisition will allow us to combine PAMF’s expertise in credit provision with SAMA Money’s mastery of mobile payments to offer our customers a 100% digital solution for savings and credit, thereby optimizing the customer journey and experience.”
This strategic move opens up new opportunities for the SAMA Money Group, which already has a presence in Côte d’Ivoire and Burundi. It extends the company’s reach within the microfinance sector, a field that accumulated nearly 2,077 billion CFA francs in deposits in the UMOA region in 2022.
Furthermore, this operation highlights Daouda Coulibaly as a visionary and accomplished entrepreneur. His consistent presence on the Choiseul 100 Africa list for five consecutive years (from 2015 to 2020) demonstrates his status as one of the 100 inspirational young leaders on the African continent. Daouda Coulibaly is also the founder of TRAINIS, a computer training company. He holds a Master’s degree from the University Paris 1 Panthéon-Sorbonne, earned in 2005, followed by an MBA in Management from IAE France in 2009.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
Against the backdrop of UNGA Climate Week, Beyond Capital Ventures has announced a new investment in Ampersand E-Mobility, an electric motorcycle and transport energy solutions company based in Africa. Ampersand has made strides in offering East Africa’s substantial taxi motorcyclist community an economically competitive electric motorcycle with improved user experience, while requiring minimal adjustments from customers.
Ampersand’s triple-bottom-line approach makes it a standout in Beyond Capital’s portfolio, with significant environmental benefits, including the displacement of 2.5 tons of CO2 emissions annually for each motorcycle. On an individual level, customers save around $1,000 annually, leading to transformative changes in their lives. The investment from Beyond Capital Ventures has enabled Ampersand to scale up to 1,350 motorcycles on the road and a 36% gross margin. The company plans to expand further, potentially into other markets, as they embark on a rapid transition to electric mobility.
This latest investment follows Ampersand’s prior funding from AlphaMundi Group (AMG), which injected $1 million into the company. AMG’s investment was aimed at supporting Ampersand’s mission to provide clean and affordable mobility solutions across East Africa. With AMG’s backing, Ampersand has been expanding its motorcycle fleet and battery swap stations in Rwanda and Kenya.
This investment adds to a series of previous financial boosts for Ampersand, including support from organizations like StartupBootcamp, FactorE Ventures, Ecosystem Integrity Fund, TotalEnergies Venture arm, the Rwanda Green Fund, USAID’s Development Innovation Ventures, Shell Foundation, the UK FCDO’s Frontier Technology Livestreaming fund, the New Zealand Government, and a loan from Blue Haven Initiative’s Catalytic Fund.
Credits: Ampersand
Daniel Silva, Investment Manager at AlphaMundi Group, expressed enthusiasm for the partnership with Ampersand, highlighting the company’s potential to provide motorcycle taxi and delivery drivers with an efficient and affordable income-generating asset while contributing to a more sustainable transportation future. Ampersand’s Founder and CEO, Josh Whale, emphasized the importance of electrifying East Africa’s motorcycle taxis in the wake of COP27, underlining the urgency of bold and innovative actions.
Ampersand, headquartered in Kigali, Rwanda, stands as Africa’s premier integrated electric motorcycle and transport energy solution provider. Their business centers around a network of battery swap stations and a fleet of unique electric motorcycles, managed through a user-friendly app and software backend. Since their commercial launch in 2019, Ampersand’s electric motorbikes have covered over 20 million kilometers in 2022, leading to a 41% increase in daily income for motorcycle drivers and a substantial reduction in carbon emissions.
AlphaMundi Group Ltd, the organization behind AMG’s investment in Ampersand, has been actively engaged in impact investing since its inception in 2008. They have invested over USD 110 million in 57 impact ventures in Latin America and Africa, primarily through the SocialAlpha and AlphaJiri impact investment funds. These investments span a range of debt and equity transactions and are aligned with the Sustainable Development Goals.
The AlphaJiri Investment Fund LP (Mauritius) represents their foray into debt, mezzanine, and equity investments with a focus on resilience and growth in impact ventures related to Sustainable Food and Renewable Energy sectors. It’s designed with a climate-smart and gender-lens orientation, primarily targeting East Africa. AlphaMundi’s broader commitment to sustainable development also extends through the AlphaMundi Foundation, which aims to bolster the long-term commercial viability of SMEs in Africa and Latin America through structured blended finance products and gender-lens investing for climate field building.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard
