Leading African telecoms company, Globacom has announced a comprehensive upgrading of its technical facilities and unveiled an endorsement deal with world heavyweight boxing champion, Anthony Joshua. The announcement took place at a media event at Eko Hotels, Lagos on Friday, February 1, 2019.
According to the company, Globacom is investing massively to increase its network capacity, coverage, and quality of service. Part of this massive investment in new infrastructure is the technical upgrade of over 1200 of its cell sites. These sites, according to the company, would be rolled out in rural areas to bridge the digital gap across the country.
In Cameroon, mobile operators continue to accuse Cameroon Telecommunications (Camtel) of irregularity in providing connectivity, particularly via fiber optics. According to the managing director of Viettel Cameroon, Moses Bayi, the situation caused a serious disruption on his network and pushed his company to sign a new partnership agreement with the Israeli Gilat Telecom.
Nexttel equally intends to find an alternative solution to compensate for the various inconveniences caused by Camtel, explains the CEO of Nexttel: "The repeated disturbances of Nexttel's network, which have occurred during the last two weeks, are due to the untimely and repeated break-up of the fiber optic managed by Cameroon Telecommunications (Camtel)”.
Kenyan agri-tech startup FarmDrive secures latest funding round. FarmDrive has accessed further financing as it expands operations to provide access to credit for three million smallholder farmers. Having previously raised funding from the likes of Safaricom and EWB Canada, FarmDrive has now secured further investment.
The Partech Africa Fund has achieved a final closing at EUR 125 million (US$143.5 million), more than double the size of its first closing a year ago. It launched in January last year, claiming it was the first technology fund of its size to be exclusively dedicated to the fast-growing tech ecosystem in Africa, with an initial close of EUR 57 million (US$70 million).
With investments already made in the likes of South Africa’s Yoco and Nigeria’s TradeDepot, Partech has now announced a final close at EUR 125 million (US$143.5 million) after gaining support from more than 40 different investors across the spectrum and from all over the world.