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💵 VFD Group Divests ₦7 Billion Stake in Atiat Limited for Strategic Growth
💰 IFC invests $50 million in Lagos Free Zone to support industrial growth
📱 TikTok Still Available: How U.S. Users Can Download the App Despite the Ban
😔 Meta Announces New Layoffs While Expanding AI Hiring
🛜 Starlink faces major setback in South Africa as it withdraws from ICASA regulatory hearings
💰 EasyBank, an innovative fintech startup headquartered in Tunisia, has successfully secured $370,000 in funding |
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| | | | | 💵 DIVESTMENT | VFD Group Divests ₦7 Billion Stake in Atiat Limited for Strategic Growth | | VFD Group has notified the Nigerian Exchange (NGX) that its Board has approved the divestment of its 57.26% stake (343,546,646 ordinary shares) in Atiat Limited, a transaction worth ₦7 billion. The disclosure, signed by the company secretary, Gbeminiyi Shoda, was published on NGX on February 7, 2025. | VFD Group, renowned for its strategic vision and robust portfolio management, first invested in Atiat Limited in 2019. Over the years, under VFD Group's stewardship, Atiat has evolved into a formidable player in Nigeria's financial services sector. The company expanded its market presence, achieved significant financial milestones, and built a solid governance framework that positions it for continued success. The divestment is seen as a natural next step in Atiat's growth journey, allowing it to chart an independent course while capitalizing on new opportunities in the financial ecosystem......…continue reading |
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| | | | | TRAINING FROM TENTH CODE MEDIA | | 🚀 This advanced training is tailored for experienced product managers and leaders ready to take their skills to the next level. Learn how to lead teams with confidence, drive innovative product development, and strategize for long-term business growth. With a focus on leadership, strategic thinking, and product lifecycle mastery, you'll leave equipped to inspire your team and deliver exceptional results. | |
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| | | | | 💰 INVESTMENTS | IFC invests $50 million in Lagos Free Zone to support industrial growth | | The International Finance Corporation (IFC) has announced an equity investment of up to $50 million in Lagos Free Zone Company. This funding is aimed at developing and expanding Lagos Free Zone (LFZ)—Nigeria's first deep-sea port-based private special economic zone. The investment is not only a crucial step toward bridging infrastructure gaps but also a catalyst for attracting both local and global businesses, fueling economic growth, and promoting Nigeria's diversification agenda........…continue reading |
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| Receive Honest News Today | | Join over 4 million Americans who start their day with 1440 – your daily digest for unbiased, fact-centric news. From politics to sports, we cover it all by analyzing over 100 sources. Our concise, 5-minute read lands in your inbox each morning at no cost. Experience news without the noise; let 1440 help you make up your own mind. Sign up now and invite your friends and family to be part of the informed. | Sign up today! | | | | | 😔 STAFF LAYOFFS | Meta Announces New Layoffs While Expanding AI Hiring | | Meta Platforms, the parent company of Facebook, is set to initiate company-wide layoffs starting Monday, February 10, 2025. Notifications will begin at 5 a.m. local time in most countries, with exceptions in Germany, France, Italy, and the Netherlands due to local regulations. Employees in other regions, including Europe, Asia, and Africa, will be notified between February 11 and February 18. The layoffs will impact about 5% of the company's workforce, targeting "lowest performers" in what is termed as "performance terminations." | Concurrently, Meta is expediting the hiring of machine learning engineers and other essential engineering roles. The hiring process will be conducted from February 11 to March 13 to align with Meta's strategic priorities for 2025. No additional updates on the layoffs will be provided on Monday, and Meta's offices will remain open.........…continue reading |
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| | | | | 📱SOCIAL MEDIA | TikTok Still Available: How U.S. Users Can Download the App Despite the Ban | | TikTok is proving to be more resilient than ever in the face of increasing regulatory pressure in the United States. Despite being removed from the Google Play Store and Apple App Store following a U.S. ban, the social media giant has found a way to keep its services accessible to millions of American users. By offering direct downloads of its Android version through its official website, TikTok is sidestepping the restrictions imposed by major app marketplaces while awaiting a resolution to the ongoing legal and political drama surrounding its ownership. | Late last week, TikTok quietly announced that Android users in the U.S. could now download the app directly from its website. This move effectively bypasses the need for the Google Play Store, where the app was previously listed before being removed in compliance with the recent ban. The company also offers TikTok Lite, a version designed for users with limited data or slower internet speeds........…continue reading |
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| | | | | 🛜 TELECOMS | Starlink faces major setback in South Africa as it withdraws from ICASA regulatory hearings | | Starlink's ambitious plans to expand its satellite internet services into South Africa have encountered a significant obstacle, as the company has officially withdrawn from regulatory hearings conducted by the Independent Communications Authority of South Africa (ICASA). This development marks a critical juncture for Starlink, which is a subsidiary of SpaceX, the aerospace manufacturer and space transport services company owned by Elon Musk, one of the wealthiest individuals in the world. | An official spokesperson from ICASA confirmed that SpaceX formally notified the telecom regulator on Wednesday evening of its decision not to participate in the oral hearings. This announcement came shortly after representatives from SpaceX failed to attend their scheduled presentation earlier that same day, raising questions about the company's commitment to navigating the regulatory landscape in South Africa.......…continue reading |
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| | | | | OTHER STORIES | Ecobank Group has entered a partnership with XTransfer, the world's leading B2B cross-border trade payment platform, to transform Africa-China trade……..continue reading EasyBank, an innovative fintech startup headquartered in Tunisia, has successfully secured $370,000 in funding, equivalent to approximately 1.2 million Tunisian dinars. This significant investment is set to bolster the company's ambitious plans for international expansion, targeting markets in the Middle East, North Africa, and France.…..continue reading LNKO, a Moroccan-based startup and a rapidly growing direct-to-consumer (D2C) eyewear brand, has recently secured a strategic equity investment from Beltone Venture Capital.……..continue reading
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| | | | | OPPORTUNITIES | Applications are now open for the latest edition of the Tony Elumelu Entrepreneurship Programme (TEEP), designed to support startups through comprehensive training, mentorship, and a funding opportunity of US$5,000 Deadline = 1st Mar 2025……..continue reading Global payment card network Visa has announced the opening of applications for the fourth edition of its biannual Africa Fintech Accelerator. Deadline = 15th March 2025…….continue reading Applications are now open for the Timbuktoo MineTech Accelerator programme, a groundbreaking initiative by the Timbuktoo MineTech Hub aimed at driving innovation in mining technology, empowering startups, and scaling transformative technologies within the African mining sector. Deadline = 13th February 2025…..continue reading
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