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🔋NSIA, SEforALL, ISA, and Africa50 launch $500 million DRE Nigeria Fund to boost renewable energy development
📱 Telkom Kenya secures $4.4 million grant from Rakuten to advance Open RAN technology
🛰️ Botswana enters the space race with BOTSAT-1 launch
💸 Nilos expands into West Africa, enhancing cross-border payment solutions |
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| | | | | 🔋 RENEWABLE ENERGY | NSIA, SEforALL, ISA, and Africa50 launch $500 million DRE Nigeria Fund to boost renewable energy development | | The Nigeria Sovereign Investment Authority (NSIA), in collaboration with Sustainable Energy for All (SEforALL), the International Solar Alliance (ISA), and Africa50, has officially announced a strategic partnership to establish the $500 million Distributed Renewable Energy (DRE) Nigeria Fund. This initiative is aimed at developing and financing distributed renewable energy projects throughout Nigeria. | The primary objective of the DRE Nigeria Fund is to mobilize financing that will provide customized financial instruments and attract private sector investment. This is particularly crucial in addressing significant challenges that have historically hindered the growth of renewable energy in the region, such as currency volatility, complex tariff structures, and the scarcity of financing options in local currency. | The fund will focus on targeted investments in various renewable energy solutions, including mini-grids, solar home systems, commercial and industrial (C&I) power solutions, embedded generation projects, and energy storage technologies......…continue reading |
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| Sign up to start learning. | | | | | 📱TELECOMMUNICATIONS | Telkom Kenya secures $4.4 million grant from Rakuten to advance Open RAN technology | | Telkom Kenya has successfully secured a $4.4 million grant aimed at developing Open Radio Access Network (Open RAN) technology, with contributions of $3 million from Rakuten Symphony and $1.4 million from Airspan Networks. This strategic investment is designed to enhance mobile connectivity, reduce infrastructure costs, and promote flexible network architectures throughout Kenya.
The partnership will facilitate collaboration with Airspan to advance the development of both 4G and 5G technologies, as well as knowledge transfer between the involved parties. Open RAN technology represents a significant shift in telecommunications, as it decouples hardware and software components within networks. This flexibility allows operators to integrate equipment from various vendors, thereby reducing both operational and capital expenditures. Furthermore, it fosters innovation by enabling more adaptable and scalable network solutions.......…continue reading |
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| | | | | 🛰️ SPACE TECHNOLOGY | Botswana enters the space race with BOTSAT-1 launch | | Botswana has made a significant advancement in the realm of space technology with the successful launch of its inaugural satellite, BOTSAT-1. This landmark achievement not only marks a pivotal moment for the nation but also positions Botswana among a growing cohort of African countries that are increasingly investing in space exploration. This move underscores Botswana's commitment to fostering scientific and technological progress, which is essential for its development. | BOTSAT-1 has been meticulously designed for research and data collection purposes, and it is anticipated to play a vital role across various sectors, including environmental monitoring, agriculture, and education. The satellite's capabilities will enable Botswana to gather critical data that can inform policy decisions and contribute to sustainable development initiatives.....…continue reading |
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| | | | | 💸 PAYMENTS | Nilos expands into West Africa, enhancing cross-border payment solutions |  | Nilos team |
| Global B2B payment platform Nilos has announced its strategic expansion into West Africa, specifically targeting the Ivory Coast, Senegal, Benin, and Togo. This move aligns with the company's mission to simplify cross-border transactions by introducing instant payouts in the West African CFA franc (XOF) and integrating mobile money services, thereby enhancing accessibility for both businesses and individuals in the region. | Founded in 2021 by Raphael Fettaya and Eytan Messika, Nilos was established with the goal of streamlining financial operations for businesses that operate across multiple currencies. The platform offers a unified solution that enables businesses to manage both fiat and cryptocurrency payments seamlessly. In its first year, the startup successfully raised $5.2 million in funding, and in 2023, it launched new Virtual EU IBANs specifically designed for companies engaged in cryptocurrency transactions within Europe........…continue reading |
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