💰 LAfricaMobile $4.6m raise |👨🏻‍💻 Kenya's Konza Digital Media City Loan

Today’s Menu ☕️

📽️ South Africa’s MultiChoice supports $2.9bn offer from France’s Canal+
💰 LAfricaMobile Raises $4.6 Million in Series A Investment for Growth of Cloud Communication Services in Africa.
👨🏻‍💻 Kenya Secures Ksh30.8 Billion Loan to Fuel Konza Digital Media City

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📽️ MEDIA

South Africa’s MultiChoice supports $2.9bn offer from France’s Canal+

Africa’s largest pay-TV operator, MultiChoice, has advised shareholders to accept a buyout offer from the French streaming service Canal+ in a deal valuing the company at $2.9 billion.

An independent board at the Johannesburg-listed company announced on Tuesday that “the terms and conditions of the offer are fair and reasonable to MultiChoice shareholders,” based on a valuation report from Standard Bank, which estimated the company's value at R120 ($6.4) per share.

The R125 per share offer by Canal+, owned by media group Vivendi and already holding 45.2 percent of MultiChoice, will not require a shareholder vote and will remain open until next April........continue reading

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💰FUNDING

LAfricaMobile Raises $4.6 Million in Series A Investment for Growth of Cloud Communication Services in Africa

LAfricaMobile, a prominent player in the realm of cloud-based communication and mobile marketing solutions, has successfully raised €4.3 million during its Series A investment round.

This financial boost was spearheaded by Janngo Capital and saw contributions from an illustrious array of investors. Notably, this included French football stars Aurélien Tchouaméni and Jules Koundé, the entrepreneurial duo behind Expensya, Karim Jouni and Jihad Othmani, as well as the investment entities SouthBridge Investments and Ciwara Capital.

With this infusion of capital, LAfricaMobile is poised to accelerate its expansion efforts throughout Central Africa while simultaneously refining its suite of products. A significant portion of this initiative will be dedicated to the incorporation of artificial intelligence (AI) technologies, aiming to amplify the benefits delivered to its clientele and collaborative partners.....continue reading

👨🏻‍💻 DIGITAL

Kenya Secures Ksh30.8 Billion Loan to Fuel Konza Digital Media City

Kenya’s ambitious Konza Technopolis project is set for a major transformation into a cutting-edge film and creative hub thanks to a Ksh30.8 billion (USD 238 million) loan secured from Korea Exim Bank. The agreement, finalised during the Korea-Africa Summit on Tuesday, June 4, 2024, marks a significant step in Kenya’s technological advancement and collaboration with South Korea.

Dr. Abraham Korir, Principal Secretary of Foreign Affairs in Kenya’s Ministry of Foreign and Diaspora Affairs, and Hwang Kiyeon, Executive Director and Board Member of Korea Exim Bank, signed the funding agreement. This substantial investment aims to catapult Konza Technopolis into a world-class center for film and creative industries, contributing to Kenya’s growing reputation as a technological innovator in Africa.......continue reading

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OTHER STORIES

• Orca secures $550K in pre-seed funding to combat financial fraud in emerging markets… Co-founded in January 2024 by Thalia Pillay and Carla Wilby, Orca’s mission is to supply banks and fintech firms operating in emerging markets with sophisticated yet user-friendly tools designed to prevent fraud.…. read more

• Microsoft said it will introduce new artificial intelligence tools for customer service call centres…..read more