MTN Nigeria to raise ₦50bn

Today’s Menu ☕️

• MTN Nigeria Seeks ₦50 Billion to Bolster Liquidity and Diversify Funding

• Silverbacks Holdings Invests in AWFC to Amplify African Combat Sports on the Global Stage

• GIP Ghana’s Strategic Investment in Truecoco: Boosting Ghana’s Agribusiness and Environmental Goals

• Safaricom Denies Allegations of Sharing Customer Data with Police

• Apple to acquire popular image editing app Pixelmator

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📱TELECOMS

MTN Nigeria Seeks ₦50 Billion to Bolster Liquidity and Diversify Funding

MTN Nigeria Communications PLC recently announced its plan to raise ₦50 billion through its Series 11 and 12 commercial paper (CP) issuance under its ₦250 billion Commercial Paper Issuance Programme. This initiative aims to strengthen MTN’s short-term working capital and diversify its funding sources, as disclosed in a notification to the Nigerian Exchange Limited.

The issuance reflects MTN’s ongoing strategy to utilize the debt market for flexible funding to meet immediate financial needs. The company has used a series of CP issuances in recent years to balance its capital structure effectively. The funds raised through this issuance will support MTN’s operational and growth needs, enabling expansion in infrastructure, enhanced service delivery, and meeting Nigeria’s increasing demand for telecommunications and digital services.……continue reading

🥊 SPORTS

Silverbacks Holdings Invests in AWFC to Amplify African Combat Sports on the Global Stage

Silverbacks Holdings, a Mauritius-based private investment firm, has recently made a strategic investment in African Warriors Fighting Championship (AWFC), Nigeria’s largest Dambe (traditional boxing) promoter. Announced at the inaugural New Africa Summit within the Future Investment Initiative in Riyadh, this partnership marks a significant milestone for Silverbacks as it seeks to support African sports and entertainment industries, which hold untapped potential for global engagement.

By joining forces with AWFC, Silverbacks Holdings aims to elevate African combat sports and promote Dambe—a centuries-old martial art deeply rooted in Nigerian culture. Silverbacks’ investment secures a minority stake in AWFC, alongside a board position, empowering the firm to play an active role in the company’s strategic direction. The funding is expected to fuel AWFC’s expansion of live events and media content, contributing to the platform’s ambition to become Africa’s largest combat sports network.........continue reading

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🌾 AGRICULTURE

GIP Ghana’s Strategic Investment in Truecoco: Boosting Ghana’s Agribusiness and Environmental Goals

Growth Investment Partners (GIP) Ghana, an investment platform backed by British International Investment (BII), has announced a significant investment in Truecoco Ghana Limited, a major player in agricultural processing based in Ghana’s Western Region. This partnership represents an essential step toward enhancing Ghana’s agricultural processing capabilities, supporting local farmers, and driving environmental innovation.

Truecoco Ghana Ltd, founded in 2017, is dedicated to sourcing raw agricultural materials responsibly, focusing on the ethical procurement of commodities like coconuts and soybeans. With the latest financial backing from GIP, Truecoco plans to expand its soybean processing operations, a move aimed at increasing the company’s capacity and meeting the growing demand for high-quality, locally produced soybean products. This investment is a boost not only for Truecoco but also for over 4,000 smallholder farmers in Ghana who supply the company. By prioritizing fair and sustainable sourcing practices, Truecoco strengthens its commitment to supporting these farmers and creating a reliable supply chain for agricultural products...…….continue reading

📱TELECOMS

Safaricom Denies Allegations of Sharing Customer Data with Police

Kenyan telecommunications giant Safaricom has vehemently denied allegations that it provides customer data, including sensitive Call Data Records (CDRs), to the police without due legal process. This follows a report published in the Daily Nation on October 29th, which claimed that the telco granted law enforcement agencies free access to such information, potentially infringing on users’ privacy rights.

In a statement released on Thursday, Safaricom asserted its commitment to protecting customer privacy and adhering to Kenya’s data protection laws. The company emphasized that it only shares customer data when explicitly required to do so by a court order.

The company further clarified that CDRs, which contain information about calls made and received, do not provide real-time location or movement data. This directly contradicts the Daily Nation report, which suggested that the police were using CDRs to track individuals in real-time.…….continue reading

ACQUISITIONS

Apple to acquire popular image editing app Pixelmator

Apple is set to acquire the renowned photo editing company, Pixelmator. Pixelmator, a 17-year-old company, says that the Apple acquisition will let its tools have an even bigger impact on creative people around the world. Over the years, Pixelmator has become an integral part of the Apple ecosystem, thanks to its immensely popular and powerful applications, Pixelmator Pro and Photomator. These apps have continually evolved, incorporating a range of advanced AI and machine learning features, such as background removal tools and Super Resolution.

For those who may not be familiar, Pixelmator Pro is described as a “professional image editing tool that anyone can use.” On the other hand, Photomator is touted as the “ultimate photo editor for Mac, iPhone, iPad, and Vision Pro.”…….continue reading

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