🏦 SWIFT set to integrate CBDCs worldwide |💰AFC raises $1.16bn

In today’s menu ☕️

🏦 SWIFT Platform to Integrate Central Bank Digital Currencies expected in 12-24 months
🧑🏻‍🏫 Sprints.ai Secures $3 Million in Bridge Fundraising Round
💰AFC raises $1.16 billion syndicated loan in a bid to close Africa’s infrastructure gap
📱MTN Group plans market exit and sells stakes in Guinea-Bissau, Guinea-Conakry to Telecel
👩🏾‍💻 Opportunities

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🏦 FINANCIAL SERVICES

SWIFT Platform to Integrate Central Bank Digital Currencies expected in 12-24 months

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a powerhouse in the global banking network, has unveiled plans to usher in a new era of digital finance. With central bank digital currencies (CBDCs) gaining traction worldwide, SWIFT is taking the lead in developing a platform to seamlessly integrate CBDCs into the existing financial ecosystem.

As the majority of the world’s central banks explore the possibilities of digital currencies, SWIFT recognizes the need to address the complex technological challenges associated with their implementation. In a recent 6-month trial involving 38 entities, including central banks, commercial banks, and settlement platforms, SWIFT showcased its commitment to overcoming these hurdles.

Led by Nick Kerigan, SWIFT’s head of innovation, the trial focused on ensuring interoperability among different CBDCs, regardless of the underlying technologies. It also explored the potential for CBDCs in complex transactions such as trade or foreign exchange, highlighting their ability to streamline processes and lower costs..……continue reading

🧑🏻‍🏫 EDTECH

Sprints.ai Secures $3 Million in Bridge Fundraising Round

Sprints.ai, a pioneering AI-powered edtech firm at the forefront of reshaping the future of education, has recently announced the successful closure of a $3 million bridge fundraising round.

Founded by Ayman Bazaraa and Bassam Sharkawy, Sprints.ai stands out as the first end-to-end platform designed to address the burgeoning tech talent gap. Offering a comprehensive suite of services ranging from talent assessment to customized learning journeys and a top-paying job guarantee, Sprints.ai is revolutionizing the way individuals prepare for and secure roles in the tech industry.

Since its inception in 2020, Sprints.ai has emerged as a trailblazer in the edtech space, delivering over 2.5 million learning hours and facilitating employment opportunities with more than 300 tech employers worldwide. By offering guaranteed hiring programs, wherein graduates only pay upon successful employment over a three-year period, Sprints.ai has democratized access to high-quality tech education.....……continue reading

💰 FUNDING

AFC raises US$1.16 billion syndicated loan in a bid to close Africa’s infrastructure gap

Africa Finance Corporation (AFC), one of the leading infrastructure solutions provider on the continent, has announced the successful closure of its largest ever debt facility—a US$1.16 billion syndicated loan. This landmark transaction, celebrated at an event in Dubai, represents a pivotal moment for AFC as it reinforces its commitment to advancing critical infrastructure projects across Africa while diversifying its investor base and enhancing financial flexibility.

The syndicated loan, initially launched at US$1 billion, witnessed a remarkable oversubscription of 49%, highlighting the robust investor confidence in AFC’s track record, creditworthiness, and ability to navigate the evolving global economic landscape. The increased capital will enable AFC to accelerate its mission of delivering sustainable solutions to bridge Africa’s infrastructure gap and unlock the continent’s vast potential for prosperity..…..continue reading

📱 TELECOMMUNICATION

MTN Group plans market exit and sells stakes in Guinea-Bissau, Guinea-Conakry to Telecel

The MTN Group has made the strategic decision to withdraw from two West and Central African markets, as outlined in its recent 2023 report. The telecom giant has agreed to sell its equity interests in Guinea-Bissau and Guinea-Conakry to Telecel as of December 2023, pending the necessary regulatory approvals.

This move will enable MTN to concentrate on strengthening its presence in key regional markets such as Ghana, Cameroon, and Cote d’Ivoire, which together accounted for over 18% of the group’s revenue in 2023. MTN is committed to managing this transition smoothly for all parties involved, including customers, employees, and stakeholders. The group is confident in Telecel’s capabilities to foster growth and expansion in these markets.…..continue reading

OTHER STORIES

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OPPORTUNITIES

• AgriTech4Egypt Innovation Challenge invites applications from agri-tech ventures for a sustainable agricultural future….read more

• Invitation for Female Entrepreneurs to Apply: Bayer Foundation Women Empowerment Award….read more

• Call for Applications: Amazon Web Services South Africa’s Equity Equivalent Investment Programme for SMEs….read more

• Irish Tech Challenge 2024: Call for South African startups to help address global issues….read more

• 14th Orange Social Venture Prize in Africa and the Middle East Now Open for Applications…..read more

• Applications Now Open for the Second Edition of the BH Africa Startup Awards….read more