🛜 Telkom sells tower business for $343 million | ⚖️ Spanish Court orders Telegram temporary suspension

In today’s menu 🥘

👨🏻‍💻 Switchcon launches Infinolab, a tech innovation lab at Lagos State University for student-led technological advancement
🛜 Telkom sells tower business Swiftnet to Towerco Bidco for $343 million
⚖️ High Court orders temporary suspension of Telegram's services in Spain
👩🏾‍💻 Opportunities

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👨🏻‍💻 INNOVATION

Switchcon launches Infinolab, a tech innovation lab at Lagos State University for student-led technological advancement

Switchcon, a company specializing in educational technology, has officially launched its tech innovation lab, named Infinolab, in Nigeria. This significant development took place at Lagos State University, signifying a major step forward in the synergy of technology and education, fostering collaborative technological solutions.

Infinolab is an innovative tech community birthed by Switchcon, built with a vision to form a dynamic environment where students can convene, share ideas, collaborate, and seek to address real-world problems using technology..……continue reading

🛜 TELECOMMUNICATIONS

Telkom sells tower business Swiftnet to Towerco Bidco for $343 million

South Africa’s third-largest mobile operator, Telkom, has announced the sale of its tower company, Swiftnet, for a total of $343 million (R6.5 billion), to Towerco Bidco Proprietary Limited, a consortium of equity investors led and managed by Actis, which holds 70% of the purchasers’ shares, while Royal Bafokeng Holdings holds the remaining 30% stake.

Swiftnet, which has an extensive mast and tower infrastructure with over 4,000 installations and leased co-location space to major mobile network providers, has been sold after nearly three years of seeking prospective buyers.

This sale aligns with Telkom’s strategic objectives, as the company has been looking to maximize shareholder value. The decision to part ways with Swiftnet had been first revealed in September 2021 by then-CEO Sipho Maseko, stating that the unit’s value wasn’t appropriately reflected in the company’s shares..……continue reading

OTHER STORIES

• High Court orders temporary suspension of Telegram's services in Spain….read more

• Singapore introduces occupational codes to aid application for new job roles in tech, sustainability …..read more

OPPORTUNITIES

• 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