Following news of Helios Investment Partners’ investment in Kenya-based data center business IXAfrica at the beginning of this month, the London-based alternative investment firm announced a second deal in the sector last week. This time, the investment firm is buying a majority stake in Maroc Datacenter, a carrier-neutral data center in Morocco. Operating in Rabat and its surrounding metro area, Maroc Datacenter counts a number of blue chip public and private clients among its growing cohort of customers, providing them with reliable colocation and cloud services. The business will form the foundation of Helios’s planned hyperscale data center platform for…
Author: Johnson Akinyi
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by Toni Kan They said telephones were for the rich and we believed them. That was probably why when the GSM era dawned, SIM cards were sold for more than the minimum wage and so priced far above the reach of the ordinary Nigerian. But it took the coming of a proudly Nigerian company, one whose avowed brand PURPOSE was to prioritise PEOPLE over PROFIT to change the sorry state of affairs. The moment Glo threw its hat into the ring, it crashed the price of SIM cards and made sure that the ordinary Nigerian, whether in Lagos or Lafia,…
The AELP has today gone live on integrating the African capital markets by facilitating cross-border trading and free movement of investments in the continent through the AELP Link platform. The go-live happened when the platform was officially switched on at 0000 UTC. The interconnectivity platform enables the trading of exchange-listed securities across 7 participating securities exchanges. Commenting on the go-live, the ASEA President Dr. Edoh Kossi Amenounve said “The go-live today of the AELP Link is a great milestone towards achieving ASEA’s mission to engage African capital market ecosystems in order to foster capital mobilization, promote sustainability, and enhance…
Grand Square, leading supermarket and retail store, has announced ‘Mega Sales’ for its 2022 Black Friday shopping event. The three days in-store shopping event is scheduled to run from November 24 – 26, 2022 and reflects Grand Square’s commitment of offering the best deals and prices to customers. During the period of the ‘Mega Sales’, customers will enjoy huge discounts of up to 75% across the different product categories, including beverages, supermarket, wines & spirits, electronics and appliances. Grand Square is offering these sales in partnership with different international and local brands. “Our customers have come to know us by…
By Ubah Jeremiah Ifeanyi | Nairametrics Published: November 09, 2022 6:17 PM Ghana Statistical Service reported its inflation rate rose to 40.4% for the month of October 2022 as the cost of goods and services continue to surge in the West African nation. The inflation rate in Ghana for the month of September was 37.2% suggesting the country’s economy battered by currency depreciation and fiscal challenges is not going away any time soon. On a month-on-month basis inflation rate was 2.7% for the month under review compared to 2% in September 2022. Other data: Food inflation…
Glo, telecommunications operator in Nigeria, has announced plans to engage over 100,000 agents across Nigeria to deepen financial inclusion through its Moneymaster Payment Service Bank (PSB). Glo’s Moneymaster will be leveraging mobile phones, PoS, and the web to provide financial services to millions of Nigerians that are out of the financial system. Moneymaster’s launch completes the entry of all mobile network operators in Nigeria into the financial services business through their subsidiaries. Nairametrics recall that the Central Bank of Nigeria (CBN) had in 2020 given Globacom’s Moneymaster the final approval to operate as a PSB alongside 9PSB and Hope PSB. Subsequent…
In a statement released on Thursday morning, the CBE attributed its decision action to elevated global and domestic prices that are expected to keep headline inflation above the MPC’s preannounced target of seven percent (±2 percent) on average in through the fourth quarter of 2022. The decision aims to uphold the CBE’s mandate of ensuring price stability in the local market over the medium term, the statement noted. It also aims to anchor inflation projections and also to contain demand side pressures and higher broad money growth as well as the second round effects of supply shocks. The CBE…
The Tanzanian gambling industry is one of the fastest-growing betting industries in Africa as more people are looking to explore the space daily. Tanzania betting sites experience an influx of new visitors which is a metric that shows more people are interested in betting. With betting, Tanzanian bettors can wager on the sports they enjoy watching. “The popular sports bettors wager on include football, horse racing, basketball, baseball, cricket, and boxing. As expected, football is the most popular sport in many African countries including Tanzania. Here, the majority are football fans and hence tend to wager more on football. This…
On 19 October 2022, the Financial Sector Conduct Authority, South Africa’s financial institutions regulator, declared that crypto assets are now included under the definition of ‘financial products’ in terms of the Financial Advisory and Intermediary Services Act. The effect of the Declaration is that any person who provides advice or renders intermediary services in relation to crypto assets must be authorised under the FAIS Act as a financial services provider, and must comply with the requirements of the FAIS Act. FSCA Declaration Crypto assets are now regulated as financial products in South Africa. On 19 October 2022, the Financial Sector…
Austin Avuru, pioneer CEO of Seplat Energy, and Dr. ABC Orjiako, pioneer chairman of the Nigerian independent may be moving from the courtroom to the negotiating table if emerging feelers from a peace meeting brokered by a respected oil man, Dr. Layi Fatona, Vice Chairman of ND-Western E&P Limited, is anything to go by. Fatona who is a friend and senior industry colleague of the two has stepped in to arbitrate and there seems to be a shifting of grounds and settling of the rift between the dueling partners. Cerebral, connected and successful, the two men; geologist/petroleum engineer and Orthopedic surgeon…