🪙CBEX Crypto Platform Resumes Operations Illegally

Today’s Menu ☕️

🪙 SEC Reissues Warning as CBEX Crypto Platform Resumes Operations Illegally
🔋AfDB Approves $184m for Egypt’s Obelisk Solar Project to Boost Clean Energy Transition
🚲 Glovo Bets Big on Kenya as Africa’s Digital Heartbeat with $123m (KSh 16 Billion) Platform Economy Play
🔋Salpha Energy Secures $1.3m to Scale Local Solar in Nigeria
📺 As DStv Loses 1.2 Million Subscribers, Is It Time to Rethink Triple-Play Strategy?

If you haven't subscribed, join over 7,000 people curious about Innovation, New Products, New Technologies in Africa.

 🪙 CRYPTOCURRENCY

SEC Reissues Warning as CBEX Crypto Platform Resumes Operations Illegally

The Securities and Exchange Commission (SEC) has reiterated its stance against the operations of Crypto Bridge Exchange (CBEX) and its affiliates, warning the Nigerian public to steer clear of the unregistered entity. This announcement follows reports that CBEX has resumed operations in Nigeria under the guise of ST Technologies International Ltd, also known as Smart Treasure or Super Technology.

In a statement released on Wednesday, the SEC disclosed that CBEX, which had earlier vanished with investors’ funds, is now demanding withdrawal fees from previous subscribers. Specifically, the platform is asking users with account balances above $1,000 to pay $200, and those with lower balances to pay $100, before they can access their funds.

The Commission emphasized that neither CBEX nor any of its related entities is licensed to operate in the Nigerian capital market. “The Commission hereby restates unequivocally that neither CBEX nor ST Technologies International Ltd (Smart Treasure/Super Technology) is registered with the Commission or authorized to offer investment-related services to the Nigerian public,” the statement read.......……continue reading

🔋 CLEAN ENERGY

AfDB Approves $184m for Egypt’s Obelisk Solar Project to Boost Clean Energy Transition

The African Development Bank (AfDB) has approved a significant financing package of $184.1 million to support Egypt’s ambitious Obelisk 1-gigawatt (GW) solar photovoltaic (PV) project and 200MWh battery energy storage system, reinforcing the country’s deepening commitment to renewable energy. While notable, the Obelisk project follows in the footsteps of Egypt’s landmark Benban Solar Park in Aswan, which remains the continent’s largest with a capacity between 1.5GW and 1.8GW.

Set in Qena Governorate, southern Egypt, the Obelisk project will include the design, construction, and long-term operation of a solar PV plant equipped with energy storage, under a 25-year Power Purchase Agreement with the Egyptian Electricity Transmission Company.

Estimated at over $590 million, the Obelisk project will be co-financed by AfDB’s ordinary capital ($125.5 million), and concessional contributions from SEFA ($20 million), the Canada-AfDB Climate Fund ($18.6 million), and the Clean Technology Fund ($20 million). Additional funding will be sourced from development finance institutions........…continue reading

 ADVERT

Attend Our Upcoming 2 Day Product Leadership Training

Product Leadership Training equips experienced product managers and leaders with the tools and knowledge needed to effectively guide product teams and drive business growth through innovative product development. The focus is on strategic thinking, leadership skills, and an in-depth understanding of product lifecycle management.

Click here to register now

🚲 LOGISTICS

Glovo Bets Big on Kenya as Africa’s Digital Heartbeat with $123m (KSh 16 Billion) Platform Economy Play

Kenya’s digital economy just gained a powerful ally. Glovo, the global delivery and logistics platform, has inked a landmark cooperation deal with the Ministry of Labour and Social Protection — setting the stage for one of the most ambitious private-sector investments in the country’s gig economy to date.

But this isn’t just another corporate expansion story. It’s a blueprint for how global tech platforms can partner with African governments to build inclusive digital ecosystems. Glovo’s roadmap: position Kenya as its Africa-wide digital hub by 2030, backed by a staggering $123 million (KSh 16 billion) in total investment and a laser focus on youth employment, SME growth, and equitable innovation..…...…continue reading

🔋 CLEAN ENERGY

Salpha Energy Secures $1.3m to Scale Local Solar in Nigeria

In a sector long dominated by imported solutions and donor-led programs, Nigerian startup Salpha Energy is redefining how clean energy is built and delivered in Africa — by Africans, for Africans. With a $1.3 million investment from Shell-backed All On, Salpha is expanding its local solar assembly facility, scaling production of solar home systems ranging from 150Wp to 100kWp, and bringing affordable, reliable electricity to underserved communities. The startup's approach emphasizes energy sovereignty by designing, assembling, and optimizing solutions within Nigeria, creating a rare manufacturing footprint in sub-Saharan Africa's clean tech space.

Led by Sandra Chukwudozie, Salpha is also blazing a trail for gender inclusion in energy innovation. As the only female-founded solar assembly company in the region, Salpha plans to create at least 200 new jobs — 90% for youth — and grow a merchant network supporting 2,400 entrepreneurs. The company’s work signals a broader shift toward sustainable, locally-driven infrastructure development in Africa.......…continue reading

📺 MEDIA

As DStv Loses 1.2 Million Subscribers, Is It Time to Rethink Triple-Play Strategy?

MultiChoice, the parent company of DStv, is grappling with a significant blow: the loss of 1.2 million subscribers across its operations, dropping its active base to 14.5 million viewers. Revenue and profits have been hit hard, particularly outside South Africa, where inflation and currency depreciation have reduced affordability. Even in its core market, South Africa, competition from streaming platforms and shrinking household budgets are eating away at DStv’s traditional dominance.

This subscriber erosion is not just a reflection of economic pressure — it’s a symptom of deeper structural limitations in MultiChoice’s business model. For years, analysts and consumers alike have asked: why hasn’t DStv fully embraced the triple-play strategy of bundling TV, internet, and voice services like many global telecom-media operators have done?....…continue reading

Do you know you can join and follow us on our WhatsApp Channel?