💰Microsoft to invest $297m in Cloud & AI in South Africa

Today’s Menu ☕️

💳 AfriGO expands Digital Payment Reach with PalmPay partnership to issue 5m cards
🚙 Nigerian drivers launch SimpliRide app to compete with major ride-hailing services
💰 Microsoft Expands Cloud and AI Infrastructure in South Africa with $297m Investment
🏍️ Talabat Holding completes $32 million acquisition of InstaShop to strengthen grocery delivery operations
🚌 BasiGo Expands Rwanda Operations with 28 New Electric Buses

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💳 DIGITAL PAYMENTS

AfriGO expands Digital Payment Reach with PalmPay partnership to issue 5m cards

AfriGO, Nigeria’s national domestic card scheme, has announced a strategic partnership with fintech giant PalmPay to issue over five million AfriGO payment cards. This initiative aims to deepen financial inclusion, particularly among underserved communities, and reinforce Nigeria’s position as a leader in digital transactions.

This latest collaboration comes on the heels of a similar partnership between AfriGO and Moniepoint, another fintech powerhouse, which is also set to distribute five million AfriGO payment cards across the country. With both partnerships combined, AfriGO is poised to issue a total of 10 million new contactless cards, significantly expanding Nigeria’s digital payment infrastructure........…continue reading

🚙 RIDE HAILING SERVICES

Nigerian drivers launch SimpliRide app to compete with major ride-hailing services

Frustrated by the steep commissions charged by leading ride-hailing platforms, a collective of Nigerian drivers has introduced SimpliRide, a local app designed to rival established services such as Uber, Bolt, LagRide, and InDrive. In contrast to these competitors, SimpliRide utilizes a subscription model, imposing a flat daily fee of ₦500 (around $0.33) on drivers. This fee is considerably lower than the commission-based deductions that can accumulate to ₦15,000 ($10.03) each month

This initiative reflects a history of driver-led efforts to create alternative platforms, such as MyKab in 2020, which eventually evolved into the government-supported LagRide. Drivers have expressed years of dissatisfaction due to escalating operating costs, rising fuel prices, and a perceived lack of responsiveness from established companies.........…continue reading

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💰INVESTMENT

Microsoft Expands Cloud and AI Infrastructure in South Africa with $297m Investment

Microsoft has announced a major investment of ZAR 5.4bn ($297m) to expand its cloud and AI infrastructure in South Africa by the end of 2027. This move builds on its previous ZAR 20.4bn investment, which established South Africa’s first enterprise-grade data centers in Johannesburg and Cape Town. The expansion is set to meet the growing demand for Azure services and accelerate digital transformation across industries in South Africa.

This significant investment aims to provide businesses, from start-ups to large multinationals and government entities, with access to cutting-edge cloud and AI technologies. The expansion will help organizations optimize service delivery, enhance operational efficiency, and drive innovation in the South African economy......…continue reading

🏍️ FOOD DELIVERY

Talabat Holding completes $32 million acquisition of InstaShop to strengthen grocery delivery operations

Food delivery platform Talabat Holding has successfully completed the acquisition of InstaShop, a prominent online grocery delivery marketplace in the region, from Delivery Hero. The deal, valued at $32 million, was disclosed in a regulatory filing on Thursday. This strategic move is part of Talabat’s ongoing expansion efforts within the grocery and retail sector.

The acquisition was fully financed through Talabat’s internal cash reserves and was finalized on February 25, 2025. This milestone marks a significant step in Talabat’s growth strategy, as outlined in the filing submitted to the Dubai Financial Market (DFM). With this transaction, InstaShop has become a wholly owned subsidiary of Talabat, further solidifying the company’s footprint in the rapidly growing grocery and retail market across the Middle East and North Africa (MENA) region........…continue reading

🚌 ELECTRIC VEHICLES

BasiGo Expands Rwanda Operations with 28 New Electric Buses

BasiGo, a leading provider of electric bus solutions in sub-Saharan Africa, has announced a significant expansion of its operations in Rwanda with the introduction of 28 new electric buses. The first batch is currently en route and is expected to arrive in Kigali next month. These buses will serve both city and inter-city routes, marking a major milestone in Rwanda’s shift towards sustainable public transportation.

The company has committed to deploying 100 electric buses across the country in 2025, following the successful acquisition of necessary capital in October last year. This ambitious expansion comes in response to strong demand, with over 360 reservations already placed by Rwandan bus operators seeking to replace aging diesel fleets or expand their operations with eco-friendly alternatives..........…continue reading

OTHER STORIES

• Egyptian AI startup Widebot secures $3 million in pre-Series A funding……continue reading

• EMOSIM and Tata Communications join forces to introduce travel eSIMs for Nigerian travelers…….continue reading

• Sahel Capital invests $400,000 in MM LEKKER to empower smallholder farmers in Benin…….continue reading

• CI Capital and Compass Capital unveil C3 Capital Fund 1……continue reading

• Ignite Power advances acquisition of ENGIE Energy Access to create Africa’s largest renewable energy provider…....continue reading

OPPORTUNITIES

• Global payment card network Visa has announced the opening of applications for the fourth edition of its biannual Africa Fintech Accelerator. Deadline = 15th March 2025…….continue reading

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