Shell sells SPDC to Renaissance for $2.4bn🛢️| General Atlantic acquires Actis 🏭

In today’s menu

🛢️Shell sells SPDC to Renaissance for $2.4 billion
🏭 General Atlantic Expands with Acquisition of Actis, Boosting Focus on Sustainable Infrastructure
🤖 Microsoft brings AI to the office with Copilot Pro
🏦 South African TymeBank had attained its first profitable month in December 2023, less than 5 years after its inception
👨🏻‍💻 Opportunities

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🛢️ OIL & GAS

Shell sells SPDC to Renaissance for $2.4 billion

British energy giant Shell is set to offload its Nigerian onshore oil and gas subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance Africa, a consortium of five predominantly local companies for a substantial $2.4 billion. This decision comes after nearly a century of Shell’s operations in Nigeria, a region fraught with operational challenges and high-profile lawsuits, prompting the company to focus on the more lucrative and less problematic offshore sector in the country…..read more

🏭 INFRASTRUCTURE

General Atlantic Expands with Acquisition of Actis, Boosting Focus on Sustainable Infrastructure

In a strategic move reflecting the growing interest in alternative assets, U.S. private equity firm General Atlantic has announced the acquisition of UK-based infrastructure investor Actis. This development comes hot on the heels of BlackRock’s recent $12.5 billion deal with Global Infrastructure Partners, underlining a trend where major players are increasingly investing in ports, power, and digital infrastructure projects worldwide.

The joint statement issued by General Atlantic and Actis did not disclose the financial terms of the deal, but it is expected to propel General Atlantic’s assets under management to approximately $96 billion. This acquisition positions Actis as the sustainable infrastructure arm of General Atlantic, focusing on assets totaling around $12.5 billion. Actis specializes in energy transition, digital transformation, and supply chain evolution.…..read more

Tenth Code Media Limited presents a 2-day training on New Product Development and Management Fundamentals

Embark on a transformative journey for the new year with a cutting-edge Product Development and Management Training! Elevate your skills and empower your team to thrive in the dynamic landscape of innovation.

Led by seasoned industry experts from Tenth Code Media Limited, this comprehensive program covers the latest methodologies, market trends, and strategic insights to propel your product initiatives to unprecedented heights.

🤖 ARTIFICIAL INTELLIGENCE

Microsoft brings AI to the office with Copilot Pro

In November last year, Microsoft unveiled AI-powered Office features to businesses. Now it is making it available to consumers also via Copilot Pro. Today the tech giant unveiled Copilot Pro as a $20 premium subscription service and expanded its Copilot for Microsoft 365 offerings for all-sized businesses as part of its mission to infuse advanced ArtificiaI Intelligence in regular work and personal lifestyle.

Copilot Pro provides access to AI-powered features inside Office apps like Word, Excel, and PowerPoint alongside priority access to the latest OpenAI models and the ability to build your own Copilot GPT..…..read more

🤖 INTERNET CONNECTIVITY

Nigeria initiates a project to boost broadband adoption

The Ministry of Communications, Innovation, and Digital Economy in Nigeria has launched the National Broadband Alliance for Nigeria (NBAN). The alliance aims to promote collaboration in the development and implementation of broadband, positioning Nigeria at the forefront of the global digital economy.

Dr. Bosun Tijani, the Nigerian Minister of Communications, Innovation, and Digital Economy acknowledged the relevance of broadband in stimulating economic development and stated that the alliance would engage key public and private sector stakeholders, as well as civil society, to devise long-term business models to facilitate internet adoption and usage in significant public institutions across the country...…..read more

IFC grants Togocom a loan of €55 million to enhance internet connectivity

The International Finance Corporation (IFC) has provided a loan of €55 million to Togocom, a Togolese mobile operator and a subsidiary of AXIAN Telecom. This move is aimed at expanding quality mobile connectivity and aiding the digital transformation of the country. This move will expedite the spread of its 4G network, expand its fibre network, and increase the efficiency and speed of data traffic.…….read more

OTHER STORIES

• TymeBank announced that it had attained its first profitable month in December 2023, less than five years after its inception in February 2019. This feat makes it the first digital bank in South Africa and the continent to break even.…read more

• Dimension Data in Ghana is set to undergo a change in ownership and name, following a management buyout led by Yvette Adounvo Atekpe, the firm’s CEO for the past 16 years….read more

• Microsoft and Vodafone have announced a 10-year strategic partnership designed to propel digital platforms to new heights. The collaboration will harness the strengths of both companies to provide scaled digital services to over 300 million businesses, public sector organizations, and consumers spanning Europe and Africa……read more

• MrBeast: The most-subscribed YouTuber debuts first comprehensive video on X….read more

🚀 OPPORTUNITIES

• Safaricom, M-PESA Africa and Sumitomo Corporation calls for tech startups looking to join the Spark Accelerator program, which aims at accelerating early stage startups to grow and scale their businesses. Application deadline: 16 February 2024 . Click here to apply

• Norrsken22 invites African startups to apply for its $125k Accelerator Program. Interested entrepreneurs can apply here.

• Cohort 2 of the Visa Accelerator Program is now open for applications. Click here to apply. Application deadline: February 18, 2024

• CcHUB is currently accepting applications from EdTech companies interested in becoming members of its 2024 cohort. Click here to apply. Application Deadline: 17th February, 2024

• Application open for the MEST Training Program. The MEST Training Program is a one year, fully sponsored, graduate-level program in tech entrepreneurship. Click here to apply. Application Deadline: 18th March 2024