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🪢 Nigeria’s National Broadband Expansion to Begin in February 2025

🪢 Nigeria’s National Broadband Expansion to Begin in February 2025

Plus: Bharti Airtel to shut down Wynk; strikes deal with Apple

Innovation Village
August 28, 2024

Today’s Menu ☕️
🪢 Nigeria’s National Broadband Expansion to Begin in February 2025
🛒 Wasoko and MaxAB Finally Complete Africa’s Largest Tech Merger
🛜 Konga Partners with Starlink to Expand Internet Access in Nigeria
🎶 Bharti Airtel to shut down Wynk; strikes deal with Apple
🪪 Fido raises $10 million in Series B investment to enhance digital credit services across Africa
📱Sukhiba Connect secures $1.55 million in seed extension funding to fuel growth

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🪢 INFRASTRUCTURE

Nigeria’s National Broadband Expansion to Begin in February 2025

The Federal Government of Nigeria has announced plans to commence the rollout of a 90,000-kilometer fibre optic cable network across the country in February 2025. This ambitious project aims to significantly expand Nigeria’s broadband infrastructure, increasing its backbone network from 35,000 kilometers to 125,000 kilometers.

The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, disclosed the plans in a statement on Twitter/X, stating that the project has received the approval of President Bola Ahmed Tinubu. The government is collaborating with development fund partners to finance the expansion, which is expected to boost connectivity and digital services across the country..…....continue reading

🛒 ECOMMERCE

Wasoko and MaxAB Finally Complete Africa’s Largest Tech Merger

After months of negotiations and setbacks, Wasoko and MaxAB, two leading African e-commerce platforms, have successfully completed their long-awaited merger. The deal, which was announced in December 2023, is being hailed as the largest tech merger on the African continent.

The merger, initially planned as a “merger of equals,” faced several challenges, including a prolonged due diligence process, internal restructuring, and macroeconomic factors. Despite these obstacles, the companies persevered, driven by the potential benefits of combining their strengths and resources.

A key aspect of the merger is that it is an “all-stock merger,” meaning that the merged entity will adopt a new name, which the company has not yet disclosed. The rebranding process is currently underway.

The newly formed entity boasts a formidable presence in the African market, serving 65 million customers through 450,000 merchants and employing over 4,000 full-time staff. This scale and reach will enable the company to expand its operations, introduce new services, and enhance customer experience...…....continue reading

🛜 INTERNET ACCESS

Konga Partners with Starlink to Expand Internet Access in Nigeria

Konga, a leading online marketplace in Nigeria, has announced a strategic partnership with Starlink to provide satellite internet services to underserved areas across the country. This collaboration aims to bridge the digital divide by offering reliable, high-speed internet connectivity to individuals and businesses in regions with limited or no terrestrial internet coverage.

As the only authorized shop-in-shop for Starlink in Nigeria, Konga is excited about the potential of this partnership. Nnamdi Ekeh, Konga’s Chief Executive Officer, remarked at Starlink Week that Konga is committed to empowering Nigerians by providing them with the tools and resources needed to thrive in the digital age.

According to a report by PUNCH, Ekeh emphasized Konga’s dedication to bridging the digital divide and bringing fast, reliable internet to every corner of the country. The Konga-Starlink partnership is a game-changer that will empower people across Nigeria....…....continue reading

📱SOCIAL COMMERCE

Sukhiba Connect secures $1.55 million in seed extension funding to fuel growth

The Kenyan-based social commerce enterprise, Sukhiba Connect, has recently announced the successful acquisition of an additional $1.55 million in seed funding. This financial boost comes nearly twelve months subsequent to its initial seed funding round, where it raised $1.5 million. The purpose of this capital infusion is to facilitate Sukhiba Connect’s strategic expansion beyond the confines of East Africa.

The latest funding round was spearheaded by EQ2 Ventures, with significant contributions from a consortium of investors including Accion Venture Lab, Musha Ventures, Quona Capital, and the returning investor CRE Ventures. This influx of capital is earmarked for propelling Sukhiba Connect’s growth ambitions across the African continent and into other nascent markets.

Sukhiba Connect was established in 2021 by entrepreneurs Ananth Raj Gudipati and Abhinav Reddy. The startup has carved out a niche for itself by creating a platform that integrates conversational commerce and customer relationship management (CRM) capabilities within WhatsApp. This innovative platform is tailored to serve the needs of medium to large-sized enterprises, empowering them to bolster their sales and customer retention metrics through the popular messaging app....continue reading

🎶 MUSIC STREAMING

Bharti Airtel to shut down Wynk; strikes deal with Apple

In a bold move set to shake up India’s telecom landscape, Airtel, the country’s second-largest telecom operator, has announced a strategic partnership with tech giant Apple. This collaboration will bring Apple TV+ and Apple Music to Airtel’s high-tier customers, effectively replacing the company’s own Wynk Music streaming service. The shift marks a significant milestone in Airtel’s efforts to enhance its offerings and cement its position in the highly competitive telecom market.

Airtel’s decision to discontinue Wynk Music, its in-house streaming platform, might come as a surprise to many, given the app’s steady, albeit modest, growth. Despite Wynk’s increasing market share—from 5% of music app downloads in Q2 2018 to 8% in Q2 this year—the company believes that partnering with a globally recognized brand like Apple offers a more robust strategy for competing in the fiercely competitive streaming market........continue reading