🪢 Safaricom, Meta Partner on Kenya’s First Subsea Cable

Plus: 🏦 GTCO Injects $236M Into GTBank for CBN Requirement

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Innovation Village
September 02, 2025

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Today’s Menu ☕️

🪢 Safaricom and Meta partner to build Kenya’s first-ever subsea internet cable
📶 Vodacom tests new 5G technology for ultra-fast downloads
🏦 GTCO infuses $236 Million into GTBank to meet new CBN capital requirement
💵 Standard Bank invests $10M in empowering African women entrepreneurs
🏦 Nedbank enters the mobile market with new MVNO
🏠 Takealot Ventures into Home Loans

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🪢 INFRASTRUCTURE

Safaricom and Meta partner to build Kenya’s first-ever subsea internet cable

Safaricom, in partnership with Meta’s Edge Network Services, is investing $23 million in Daraja, Kenya’s first subsea internet cable. The project, set for completion in 2026, will link Mombasa to the Middle East with 24 fiber pairs—far more than the 8–16 in existing systems—boosting speed, capacity, and resilience.

Daraja comes as Kenya faces frequent disruptions from aging cables like SEACOM and EASSy, underscoring the need for digital independence. For Meta, it complements the 45,000 km 2Africa cable, expected by 2025, and reflects its push to expand Africa’s connectivity and economic growth.

By strengthening digital infrastructure, the cable promises more reliable internet access for startups, students, and underserved communities, making broadband a foundation for development in Kenya’s digital future.…..continue reading

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🏦BANKING

GTCO infuses $236 Million into GTBank to meet new CBN capital requirement

Guaranty Trust Holding Company (GTCO) has injected ₦365.85 billion ($236m) into its banking arm, GTBank, through a rights issue of nearly 7 billion shares. The move ensures GTBank meets the Central Bank of Nigeria’s new ₦500bn capital requirement for international banks, raising its share capital to ₦504bn.

With this boost, GTBank secures its license, strengthens its balance sheet, and positions for expansion in Nigeria and abroad. The recapitalization drive comes amid CBN’s March 2026 deadline, which is reshaping the country’s banking sector as smaller lenders explore mergers to survive...…continue reading

📶 TELECOMS

Vodacom tests new 5G technology for ultra-fast downloads

Vodacom South Africa has become the first company in Africa to test a groundbreaking 5G technology in Cape Town. The “dual-band massive Mimo” radio allows the operator to broadcast all its time-division duplexing (TDD) spectrum from a single device, combining n78 (3.5GHz) and B41 (2.6GHz) bands. This upgrade promises ultra-fast 5G download speeds, improved broadband services, and a more sustainable, cost-efficient network. According to Vodacom’s Technology Director, Beverly Ngwenya, the innovation reduces complexity, optimizes spectrum and energy use, and accelerates 5G rollout for both homes and businesses......…continue reading

💵 INVESTMENTS

Standard Bank invests $10M in empowering African women entrepreneurs

Standard Bank, Africa’s largest bank by assets, has committed $10 million to the African Women Impact Fund (AWIF) to empower women fund managers across the continent. The fund, launched by UNECA, UN Women, and the African Union Commission, aims to expand access to finance for women-owned businesses and strengthen their role in decision-making.

According to IFC research, women fund managers are twice as likely to back women-led enterprises, highlighting the initiative’s potential to drive inclusive growth. With Standard Bank as lead sponsor, alongside partners like RisCura and MiDA Advisors, AWIF provides a sustainable platform to boost gender-focused investing and accelerate economic transformation in Africa..…..continue reading

🏦BANKING

Nedbank enters the mobile market with new MVNO

Nedbank has entered the mobile telecom market with Nedbank Connect, a Mobile Virtual Network Operator (MVNO) running on MTN South Africa’s infrastructure. Exclusively for Nedbank clients, the service offers fully digital, no-contract plans starting at R169/month, including unlimited calls, SMS, and 3GB of data.

Customers can build custom plans, earn airtime rewards through Greenbacks, and manage up to 10 SIM cards under one account, making it ideal for families and small businesses. With eSIM support, flexible delivery, and real-time digital management tools, Nedbank Connect blends affordability with convenience—marking a major move by the bank into digital lifestyle services........continue reading

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Jessica Adiele
Innovation Village