Nigeria launches $672 million tech fund

Pamela Tetteh Editor, TechCabal.

Right here’s a list of the total Twitter Areas we’ll be maintaining to celebrate our 10th-year anniversary.

• March 14—Beyond Funding: Meet the crew leading TechCabal’s newsroom. Why is TechCabal telling the kinds of tales we’re telling now, and how this pondering has influenced our growth force? How is TechCabal’s editorial management utilizing this? 

• March 16—Constructing newsletters readers want. How has TechCabal grown to construct seven newsletter merchandise, and what drove this inform? How does TechCabal measure success in phrases of its newsletter merchandise, and what are its plans? 

• March 21—Meet the crew telling African tech tales that topic. TechCabal captures the avid gamers, human affect and commercial of tech in Africa. We provide the scream, reporting, recordsdata, and context to back the area know how tech is changing Africa. Who are the journalists doing all of this critical work? 

• March 23—What’s the procedure forward for tech in Africa? In the closing 10 years, the African tech ecosystem has superior swiftly. We know this firsthand at TechCabal. What does the long crawl idea fancy? Join us for an insightful conversation with Ola Brown, Stephen Deng, Hope Ditlhakanyane, and Ngozi Dozie the put we reply these questions. 

• March 30—The role of the media in overlaying African tech. How can the media back Africa’s surroundings up tech ecosystem? What accountability does the media owe the ecosystem, and what can the media request in return? Must always silent the media handiest quilt actual tales? 

=”” a=””>	MTN Nigeria raises $271 million MTN is attempting to steal money to fund its industrial paper issuance. Final week, MTN Nigeria announced that it had raised ₦125 billion ($271 million). Now it is miles divesting its sources too as segment of its fundraising efforts. Learn extra.
	HSBC buys SVB for $1 The UK arm of Silicon Valley Monetary institution (SVB) has came across a brand new home. HSBC UK Monetary institution, a subsidiary of HSBC Holdings, has obtained Silicon Valley Monetary institution UK for £1 ($1.21) after the bank was as soon as closed down by regulators attributable to alarm withdrawals. Learn extra.
	Chipper Cash is concerned by a sale African unicorn Chipper Cash is reportedly concerned by promoting the firm or seeking new traders. This recordsdata comes after TechCabal reported that Flutterwave, but any other fintech unicorn, might per chance perchance per chance even honest include to steal money below its $3 billion valuation this year. Learn extra.
	Are African traders sticking with SVB? Despite the crash, some African traders reside assured in Silicon Valley Monetary institution (SVB) or its new entity, Silicon Valley Bridge Monetary institution. Some include even requested their portfolio companies to return any deposits they wired out of SVB. Read extra.

“Budget smartphone reviews” “Best camera phones under $500” “Top-rated Android phones of the year” “New smartphone releases 2022” “Flagship phone reviews” “Affordable tech gadgets for daily use” “Upcoming phone rumors and leaks” “Latest smartphone technology trends” “Comparing iPhone and Android phones” “Unbiased phone reviews from tech experts”

Who brought the money this week?

This week, Nuru, an vitality firm based mostly mostly in the Democratic Republic of Congo (DRC), secured $1.5 million in a Series B funding round. The firm is on aim to construct 13.7MWp of isolated record voltaic-hybrid grids by mid-2024 and goals to provide world-class connectivity to 5 million purchasers in the DRC. 

The Renewable Vitality Performance Platform (REPP), Proparco, and E3 Capital every invested $500,000 in Nuru, bridging the financing gap for its $25 million Series B equity fundraising.