Mukesh Ambani enters Ghana with 5G services | Copia enters into administration

Today’s Menu ☕️

🛜 Mukesh Ambani Ventures into Africa with 5G Broadband Services in Ghana
🚕 inDrive’s Rise Shakes Up Nigerian Ride-Hailing, Forces Bolt to Adapt
🛒 Copia Global’s Demise: What Went Wrong for the $123m Startup?

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

🛒 ECOMMERCE

Copia Global’s Demise: What Went Wrong for the $123m Startup?

Copia Global, the Kenya-based e-commerce platform targeting the underserved middle and low-income populations, has entered into administration. The company has entered administration, appointing Makenzi Muthusi and Julius Ngonga of KPMG to manage the process. This development comes as a significant blow to the Kenyan tech ecosystem, particularly given Copia’s innovative approach to e-commerce and its substantial financial backing over the years. It has raised $123 million since inception, even securing $20 million in a series C funding round led by Enza Capital in December 2023.

The company said that it was unable to “attract capital on terms that were amenable to all existing stakeholders, funders, and investors.” It added that Copia Global was now winding down, leaving the Copia Kenya business in a new position to raise capital directly...........continue reading

🚕 RIDE-HAILING

inDrive’s Rise Shakes Up Nigerian Ride-Hailing, Forces Bolt to Adapt

Bolt’s recent announcement of a new bidding system for rides is a significant shift in the Nigerian ride-hailing landscape. But this move isn’t happening in a vacuum. It’s a direct response to the growing influence of inDrive, a competitor that has been steadily gaining traction with its unique customer-driver negotiation model.

inDrive entered the Nigerian market with a bold proposition: a ride-hailing platform where passengers and drivers could negotiate fares directly. This approach resonated with many Nigerians who were frustrated with the often-unpredictable pricing of established players like Bolt and Uber..........continue reading

🛜 TELECOMS

Mukesh Ambani Ventures into Africa with 5G Broadband Services in Ghana

Mukesh Ambani, Asia’s wealthiest individual and chairman of Reliance Industries Ltd., is making a significant entry into the African telecommunications market. His company, through its subsidiary Radisys Corp., has teamed up with Ghana-based Next-Gen InfraCo (NGIC) to introduce 5G broadband services in Ghana. This move is poised to revolutionize digital connectivity in the region, leveraging Ambani’s successful telecom model from India.

NGIC, which plans to start operations by the end of the year, aims to provide affordable digital services by collaborating with several technological giants........continue reading

OTHER STORIES

• How NBA Africa is Leveraging Tech to Transform the Continent’s Sports Landscape. The recent announcement of the “Triple-Double: NBA Africa Startup Accelerator” program showcases a bold new strategy – leveraging technology to drive the growth of basketball and the wider sports industry across the continent…..read more

• MTN Ghana to phase out Scratch Cards by June 2024. This signals a significant shift towards digitalisation and environmental responsibility. This decision comes as part of the telecom giant’s broader strategy to lead digital solutions in the country and align with the Ghanaian government’s digitalisation agenda…..read more

• Zimbabwe Approves Starlink Internet Service. Zimbabwe’s telecom regulator has granted a license to Elon Musk’s Starlink, allowing SpaceX’s satellite internet service to operate within the country. This is a U-turn for the regulator which, in April, directed Starlink to suspend its services……read more