Innoson Vehicle Manufacturing Company (IVM), Nigeria’s prominent vehicle manufacturer, has proudly unveiled its first locally produced electric vehicle (EV) in Nnewi, Anambra State. This landmark development marks a significant milestone for the company and the Nigerian automotive industry.
Paymob, the Egypt-born fintech startup, has successfully secured an additional $22 million in funding, boosting its Series B round total to $72 million. This latest investment comes on top of the $50 million raised in 2022, bringing Paymob’s total funding to over $90 million since its inception.
NTT DATA has announced a significant multi-year partnership with Arsenal FC, marking a milestone as the club’s official digital transformation partner. This collaboration adds to NTT DATA’s growing list of global sports and major event technology partnerships.
Aijaz Shalla has been appointed as the new Chief Operating Officer at SBM Bank Kenya, bringing with him extensive experience and a distinguished track record in the banking sector. Aijaz holds a Bachelor’s degree in Electronics & Communications and an MBA in Banking & Finance, where he was recognized as a Gold Medalist. His career spans over 23 years, including significant roles across various industries such as banking, steel, and power sectors.
African Originals, the company behind popular craft beverage brands Kenyan Originals and 5.8, has successfully secured $2 million in funding, led by Phoenix Beverages Limited. This significant investment marks a major milestone for African Originals, enabling the company to scale its operations, expand its product range, and reinforce its commitment to sustainability and community impact.
Field, an African healthtech leader, has launched a groundbreaking route-to-market service aimed at combating maternal mortality, newborn and child health issues, and improving nutrition across the continent. This initiative leverages Field’s proprietary technology and extensive distribution network, which serves over 40,000 healthcare providers in Kenya and Nigeria. The service is supported by an initial $11 million grant from the Bill & Melinda Gates Foundation, underscoring the commitment to introduce innovative therapies and transform supply chains to address Africa’s urgent health priorities.
Apple’s recent product launch underscores a significant shift towards artificial intelligence (AI) with the introduction of the iPhone 16 series. Tim Cook, Apple’s CEO, emphasized that AI is central to their vision, stating, “The next generation of iPhone has been designed for Apple Intelligence from the ground up.” This new focus on AI marks a pivotal evolution in Apple’s product strategy, aiming to drive consumer interest and upgrades despite slower sales of previous iPhone models.
NamPower, Namibia’s state-owned utility, has announced a major advancement in its energy sector with the signing of a contract valued at N$1.6 billion ($89 million) to develop the country’s largest solar power plant. The contract, awarded to China Jiangxi International Economic and Technical and Zhejiang Chint New Energy Development, will see the construction of the 100 MW Rosh Pinah solar plant over the next 18 months, with commercial operations projected to start in the second quarter of 2026.
