BUA Group dropped 30 billion naira across 510 employees who stuck around anywhere from five years to over 40 years, and founder Abdul Samad Rabiu handed out checks ranging from 100 million to 1 billion naira to the top 41 people at the ceremony. Five workers walked away with a billion each, while another batch got 500 million, 250 million, 200 million, or 100 million depending on their tenure at the industrial conglomerate that runs cement plants, sugar refineries, food manufacturing, and infrastructure projects across Nigeria.
Rabiu said the cash rewards recognize people who believed in the company before it became one of Africa's biggest diversified groups with a market cap running into trillions. The program locks in institutional...
Edgebase Technologies hit the 20-year mark, and CEO Joel Egbai says the Lagos-based firm is doubling down on AI-powered infrastructure and cybersecurity tools that help clients spot problems before they blow up. The company started as a hardware supplier back in 2005, and it grew into a full-stack infrastructure outfit working with global equipment manufacturers across banking, telecom, oil and gas, plus manufacturing sectors throughout Nigeria and West Africa.
Egbai mentioned the plan involves beefing up partnerships, rolling out smarter data center solutions, and keeping local engineers trained up through internship programs that have turned fresh graduates into industry leaders. Head of Human Capital Lukman Kola Afolabi said the...
Mozambique's cabinet greenlit new dispute resolution rules for telecom and postal operators after the sector got messy with network buildouts, e-commerce growth, and mobile money services, creating friction between companies and customers. The Communications Regulatory Authority can now run mediation and arbitration processes with actual structure instead of winging it, and the whole framework covers fights over billing issues, service quality beefs, competition drama, network access, and infrastructure sharing.
The regulation pushes parties toward negotiation and mediation first before jumping to arbitration, and it sets up independent teams to handle cases with deadlines that actually matter. The Authority says the move protects...
DMCC signed a deal with Crypto.com to push tokenization in the commodities game, and the whole thing is about using blockchain to cut down settlement times and make pricing less opaque across precious metals, diamonds, energy products, and agricultural stuff. The MoU covers potential listings of tokenized commodities on the exchange pending regulatory clearance, plus custody setups and digital payment integration across DMCC platforms in Dubai.
Crypto.com is teaming up with the DMCC Crypto Centre on workshops and hackathons to get institutions up to speed on tokenization without everything turning into a regulatory nightmare. The partnership builds on existing work with the Virtual Assets Regulatory Authority to create compliant...
Chad kicked off a four-day fiber optic mapping workshop at the Hotel de l'Friendship with officials from ARTAC, ARCEP, and the International Telecommunications Union showing up to talk about getting better connectivity across Africa. The Ministry of Posts and Digital Economy is pushing the whole thing to get clearer pictures of existing networks, pull in more investment dollars, and work toward universal internet access while dealing with cybersecurity threats.
The agenda covers digital infrastructure for regional integration and financial inclusion, plus responsible AI deployment that keeps social media platforms from turning into total chaos zones. Participants are trying to build stronger planning frameworks and regional cooperation...
CardinalStone Asset Management is running what they claim is Nigeria's biggest Umbrella Infrastructure Fund at 500 billion naira, and the first chunk dropping is a 20 billion naira debt vehicle targeting power grids, telecom buildouts, transport networks, and utilities. The minimum buy-in sits at 10 million naira, so it's aimed at institutional money and high-net-worth types chasing stable returns while backing national development projects.
The fund is supposed to deliver patient capital for long-term infrastructure growth across renewable energy, gas systems, digital backbone stuff, logistics routes, and social projects. CardinalStone says the platform gives investors exposure to assets that strengthen economic foundations and...
Liberia is finally getting interoperable mobile money after the Central Bank launches its Inclusive Instant Payment System, which lets Lonestar Cell MTN and Orange Liberia users send cash back and forth instantly instead of dealing with the usual fragmented mess. President Joseph Boakai is doing the keynote at the Congo Town rollout, and the whole thing connects banks, mobile wallets, and financial service providers on one national platform that handles real-time transfers across different institutions.
The system tackles slow processing times and the heavy reliance on physical cash by linking all major players together, which should help market vendors, farmers, students, and small businesses move money faster without getting stuck in...
Morocco is dropping $140 million into its startup scene through the Morocco Digital 2030 plan, and Delegate Minister Amal El Fallah Seghrouchni laid out the numbers at the Digital Now Forum in Casablanca. The cash breaks down with $81 million going to venture building for early-stage companies, $49 million for venture capital funds to pull in private investors, and $7.6 million to beef up the Technopark network across the country.
Seghrouchni says the goal is getting 1,000 startups running by next year and hitting 3,000 by the end of the decade through new financing tools that get the private sector more involved. The strategy also covers digital access programs for rural areas and Jazari Institutes, which are basically regional...
Presight is running another round of its AI Accelerator after the first batch apparently crushed it with 10 startups hitting a combined $300 million valuation and landing deals with G42 companies, plus UAE government entities. CEO Thomas Pramotedham says most early-stage AI ventures tank because they lack infrastructure access and growth capital, which is what this program tries to fix by hooking startups up with compute resources, enterprise connections, and potential funding from the Presight-Shorooq Fund.
Applications close at the end of January, and they'll pick finalists after screening 30 applicants through pitch day. The second cohort gets six months of acceleration with mentorship from Presight, G42, MBZUAI, and Microsoft, plus...
