Business articles

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NATCOM Consortium To Buy NITEL, Mtel For $252 Million

NATCOM Consortium To Buy NITEL, Mtel For $252 Million

Telecommunications consortium, NATCOM is set to acquire Nigeria’s beleaguered national carrier, NITEL and its mobile subsidiary, MTel for $252.5 million (about N45 billion naira) after it emerged the preferred bidder during a financial bid process held on Wednesday in Abuja.

funding

JUMIA Receives $150 Million In New Round Of Funding

JUMIA has received a new round of funding amounting to €120 million (about $150 million USD) from its existing shareholders — MTN, Millicom and Rocket Internet — through the Africa Internet Group (AIG) to further strengthen the company’s position as the leading online retailer in Africa. With this latest cash injection, it brings the company’s

jovago

Jovago.com Partners With Nigerian Bus Transport Companies

Online hotel booking platform, Jovago has commenced forging partnerships with nationwide bus transport companies in Nigeria to make hotel bookings accessible to travelling Nigerians. So far, the company has partnered up with over 20 bus transport agencies including Ekene Dili Chukwu, Izuchukwu Transport Nigeria Limited. In the same vein, Jovago has kicked off a white

440ltd

“We don’t invest in innovative ideas” – 440.ng

When accelerator, 440.ng released the list of nine startups that they had selected to invest in, the Nigeria tech scene was in an ‘e-uproar’. The accelerator received a backlash in form of negative commentary. Whether the backlash was deserved or undeserved is a matter of opinion but 440.ng has released a blog post addressing the

Microsoft announces new Office 365 business plans

Microsoft today announced three new Office 365 plans for small and mid-size businesses, namely Office 365 Business, Office 365 Business Essentials, and Office 365 Business Premium. The Office 365 Business package will feature the full Office applications, including Microsoft Outlook, Word, Excel, PowerPoint, OneNote, Publisher and OneDrive for Business cloud storage, which makes it easy to

Lenovo completes initial closing for acquisition of IBM’s x86 server business

Lenovo and IBM have announced the completion of the initial closing for Lenovo’s acquisition of IBM’s x86 server business. As part of the agreement, Lenovo will serve as an Original Equipment Manufacturer (OEM) to IBM and will resell select products from IBM’s industry-leading storage and software portfolio. Lenovo is acquiring System x, BladeCenter and Flex System blade servers

Google reportedly shutting down its Get Business Online programme in Africa

Google is reportedly shutting down its attempt at getting businesses online in Africa through GNBO in Nigeria, KBO in Kenya and GABO for African businesses on December 31, 2014, according to TechMoran. The initiative which launched in 2011 received mixed reactions, controversy and criticisms and didn’t seem to meet Google’s expectations for introducing the service.

Rocket Internet kicks off its $1.8 billion IPO

Rocket Internet, the European startup incubator behind technology companies including JUMIA, Jovago and hellofood, started trading on the Frankfurt Stock Exchange today. According to tech.eu, the firm opened at €42.50 ($54 USD) per share, valuing the company at €6.7 billion ( $8.4 billion USD). The price quickly dropped by more than 10 percent, but has since

funding

Rocket Internet IPO: A Look At JUMIA’s Numbers In 2013

Now that Rocket Internet, the German-based venture builder with stakes in JUMIA, the leading e-commerce site in Africa, is preparing to go public on October 2, we got a hint to look into its financials and see what the numbers say about its largest operation in Africa, JUMIA.

A-Post

Africa-Focused Technology Logistics Platform, A-Post Plans Delivery To 10 Cities By End Of 2014

While working with leading online retailer in Africa, JUMIA, two entrepreneurs — Tunde Kehinde and Ercin Eksin — decided to team up and solve the problem of logistics, so they founded A-Post (or Africa Post) to deliver world-class logistics solutions to both businesses and consumers.

Lenovo_Headquaters_Morrisville

World’s largest PC maker, Lenovo now sells more smartphones than PCs

The world’s largest PC maker, Lenovo, now sells more smartphones than PCs, according to its latest earnings report released today. In the report, Lenovo revealed that it sold 15.8 million smartphones in the first quarter of 2014, compared to 14.5 million PC sales and attributed its rise in smartphone sales to the market shifting from

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