Legend Internet moves to acquire ISP and microfinance bank
Legend Internet Plc is expanding into telecom and finance by acquiring a licensed Internet Service Provider and a microfinance bank. The company received approval to raise up to ₦150 billion in new capital and issue 10 billion ordinary shares.
IHS Towers’ $147M Q3 profit driven by naira gains, masking MTN churn
IHS Towers reported a profit of $147.4 million for the third quarter, reversing a loss from the previous year. The profit was primarily driven by a $353.6 million favorable swing in net finance costs due to the appreciation of the Nigerian naira.
Nigerian startups get funding boost
The Nigerian government is launching new funds through the iDICE programme to support startups in the creative and technology sectors. DailyPay, a startup founded by Temidayo Dauda, allows employees to access their salaries daily instead of monthly.
Helios to acquire 75% stake in Telecom Egypt’s data centre assets
Helios Investment Partners secures approval to acquire 75% of Telecom Egypt's regional data hub. The deal values the RDH business at $230 million, with potential growth to $260 million.
MTN, Airtel bet $400 million on Naira-priced cloud to woo startups
MTN and Airtel are investing $400 million to expand into cloud and AI services. MTN plans to offer affordable cloud storage and naira-based billing to attract startups.
