Yellow Card Raises $33M in Series C Funding

Yellow Card, the first licensed stablecoin on/off ramp in Africa, has successfully closed its Series C financing, securing US $33 million in equity funding. The financing round was led by Blockchain Capital, with significant contributions from several prominent investors, including Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital. This milestone not only underscores the company’s growth trajectory but also highlights the expanding potential of the African fintech industry as a whole.

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du Forms Strategic Partnerships to Boost Innovation at GITEX 2024

du has made significant strides in technological innovation at GITEX 2024 by announcing a series of strategic partnerships aimed at transforming industries across the UAE. One of the most notable collaborations is with Invest in Sharjah, which focuses on enhancing Sharjah’s business ecosystem. This partnership will introduce advanced digital solutions, such as artificial intelligence (AI), the Internet of Things (IoT), and cloud computing, to empower investors and entrepreneurs. By leveraging these cutting-edge technologies, the initiative aspires to promote sustainable growth and establish Sharjah as a hub for innovation.

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ADB and MasterCard Partners to Digitize Agriculture Operations

The African Development Bank Group and MasterCard are spearheading a transformative new initiative, the Mobilising Access to the Digital Economy (MADE) Alliance Africa, which aims to give 100 million Africans and companies digital access to essential services over the next decade. This ambitious partnership seeks to harness the power of digitalisation to unlock economic growth and drive inclusive development across the continent, ensuring that Africa’s communities can participate fully in the digital economy.

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Intelsat Launches satellite Backhaul Platform for Nigeria’s Connectivity

Intelsat has announced a significant step toward enhancing connectivity infrastructure in Nigeria and across Africa with the launch of its new satellite cellular backhaul service platform at the Open Access Data Centre in Lagos, Nigeria. This initiative, known as Intelsat CellBackhaul Nigeria, represents a major advancement in providing reliable and scalable connectivity solutions for mobile network operators (MNOs) and internet service providers in the region. By integrating satellite and terrestrial networks, Intelsat aims to address longstanding connectivity challenges, particularly in underserved areas.

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Octavia Raises $5M to Capture CO2 and Build Storage Plant

Octavia Carbon, a pioneering cleantech startup based in Kenya, has successfully raised $5 million in a seed funding round to develop its Direct Air Capture (DAC) storage plant. This innovative company focuses on removing carbon dioxide from the atmosphere through cutting-edge technology that draws air into machines, filters out CO2, and securely stores it underground. With the increasing concern about excess atmospheric CO2 depleting the ozone layer and contributing to health and environmental issues, Octavia Carbon’s mission has never been more crucial.

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Huawei Accelerates Efforts to Advance Industrial Revolution

In the face of the rapidly advancing fourth industrial revolution, global economies must fully embrace technology to stay competitive. This is especially true for Kenya, where the integration of Artificial Intelligence (AI) and the Internet of Things (IoT) is vital for driving growth in key sectors such as manufacturing. Chinese tech giant Huawei has emphasized the importance of these technological advancements in shaping the future of industries across both developed and developing economies. As one of the major players at the GItex 2024 exhibition in Dubai, Huawei is advocating for the accelerated adoption of digital solutions.

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Fintech Mukuru Introduces a New Mobile Wallet in Malawi

Mukuru, a leading fintech company, has made a significant stride in Malawi with the launch of its new Mukuru Wallet. Designed to meet the increasing demand for a digital store of value, the Mukuru Wallet is set to transform how cash-dependent citizens manage their finances. This innovative solution aims to provide Malawians with a simple, secure, and efficient way to handle money transfers and financial management, both locally and globally.

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