Innovation Village Newsletter
Posts
💿 Wingu Africa Secures $60 Million for expansion

💿 Wingu Africa Secures $60 Million for expansion

Plus: 📱Rektron and Afritel to Acquire 60% Stake in Ghana’s AT Telecom

Innovation Village
June 10, 2025

In partnership with

Today’s Menu ☕️

💿 Wingu Africa Secures $60 Million to Expand East African Digital Infrastructure
📱Rektron and Afritel to Acquire 60% Stake in Ghana’s AT Telecom
⚖️ SEC Warns Nigerians Against Investing in Unregulated Punisher Coin ($PUN)
♻️ uMunthu to Acquire 26% Stake in Nigerian E-Waste Recycler Hinckley

If you haven't subscribed, join over 7,000 people curious about Innovation, New Products, New Technologies in Africa.

💿 DIGITAL INFRASTRUCTURE

Wingu Africa Secures $60 Million to Expand East African Digital Infrastructure

Wingu Africa, a leading data centre operator on the continent, has secured $60 million in funding from Rand Merchant Bank (RMB) to accelerate the development of digital infrastructure across East Africa. The funding marks a critical milestone in Wingu’s vision to build a scalable, secure, and interconnected digital ecosystem in Djibouti, Ethiopia, and Tanzania—three countries at the heart of Africa’s emerging tech landscape.

The capital injection will be used to roll out next-generation data center infrastructure that meets the surging demand from telecom providers, cloud platforms, and enterprise clients seeking reliable digital connectivity in the region.

Founded in 2012 by Demos Kyriacou, Anthony Voscarides, and Nicholas Lodge, Wingu Africa now serves more than 40 enterprise clients, including hyperscalers, digital service providers, and financial institutions. The company’s expansion will also support the delivery of low-latency cloud services through partnerships with firms such as Cloudflare and Bayobab Africa....……continue reading

Learn AI in 5 minutes a day

This is the easiest way for a busy person wanting to learn AI in as little time as possible:

Sign up for The Rundown AI newsletter
They send you 5-minute email updates on the latest AI news and how to use it
You learn how to become 2x more productive by leveraging AI

📱TELECOMS

Rektron and Afritel to Acquire 60% Stake in Ghana’s AT Telecom

Rektron Group Incorporated, a global leader in energy and infrastructure, is preparing to make a bold entry into West Africa’s telecom sector by acquiring a 60% majority stake in AT Ghana Limited (formerly AirtelTigo). Partnering with local telecommunications firm Afritel Ghana Limited, the planned deal aims to restore the competitiveness of one of Ghana’s longstanding but struggling telecom operators.

This development follows a Memorandum of Understanding signed on May 21, 2025, with the Government of Ghana, which currently owns AT Ghana outright. The acquisition is expected to infuse much-needed capital, world-class infrastructure, and global best practices into a company that has seen its market share fall sharply—from 25.82% in 2018 to just 7.89% by the end of 2024, according to the National Communications Authority (NCA).

Rektron’s diversification into telecommunications represents a strategic pivot toward advancing digital infrastructure across Africa. The deal also marks a return to the sector for Nana Richmond Aggrey, founder of Afritel and co-founder of Scancom Ghana (now MTN Ghana), the country’s first GSM provider.........…continue reading

⚖️ REGULATION

SEC Warns Nigerians Against Investing in Unregulated Punisher Coin ($PUN)

Nigeria’s Securities and Exchange Commission (SEC) has issued a strong public advisory warning citizens against investing in the ongoing presale of Punisher Coin, also known as $PUN, citing the asset’s lack of regulatory approval and its classification as a high-risk “meme coin.”

In a public notice released over the weekend, the SEC disclosed that neither Punisher Coin nor its promoters are registered to operate or solicit investments within Nigeria’s capital market. The warning follows a surge in online advertisements and news features promoting $PUN as a promising investment, including a recent article from the Daily Trust E-Paper that compared it to more established cryptocurrencies like Avalanche and Chainlink.

“The attention of the Commission has been drawn to several online publications blatantly advertising the unauthorised presale of a crypto coin termed ‘Punisher Coin,’ aka ‘$PUN’,” the SEC stated. “We want to emphasize that the promoters or issuers of $PUN are not registered to operate in any capacity in the Nigerian capital market, and the coin itself has not been approved by the Commission for issuance to the public.”.....…continue reading

♻️ RECYCLING

uMunthu to Acquire 26% Stake in Nigerian E-Waste Recycler Hinckley

uMunthu Investment Company II, a Mauritius-based private equity fund focused on impact investing, is set to acquire a 26% stake in Nigeria’s Hinckley Ewaste Recycling Limited. The planned acquisition was disclosed in a regulatory filing to the Federal Competition and Consumer Protection Commission (FCCPC), signaling a strategic investment in Nigeria’s growing e-waste management sector.

The deal will be executed through a Share Subscription Agreement that includes the purchase of 47.8 million preference shares in Hinckley. This significant capital infusion is expected to strengthen Hinckley’s operational capacity, support infrastructure upgrades, and improve working capital, enabling the company to scale its activities in Nigeria’s largely fragmented recycling landscape.

Hinckley Ewaste Recycling, headquartered in Lagos, was established to address the mounting challenge of electronic waste in the country. The company collects and dismantles discarded electrical and electronic devices—ranging from mobile phones to laptops—and recovers reusable components such as batteries, printed circuit boards, and plastic casings. These parts are then sold to domestic and international buyers, including major metal and battery recyclers. Hinckley’s clientele includes corporate organizations and institutions with significant e-waste footprints.......….…continue reading