What’s happened this Week:

• MTN Uganda activates its 5G Network

• Ghana to launch new online business registration platform in 2024

• and more!

Over the last few years, the telecoms field in Ghana has been taking several hits. Telecom and ISP companies operating in the country had been ceasing operations and leaving, making the space less competitive.

In the mobile space, the competition is getting decimated. Broadband companies are folding up and MTN continues to dominate with 70% market share. The regulator appears to have its hands tied.

In The News This Week:

Remedial Health Raises $12 Million to Deliver Financial Services for Neighbourhood Pharmacies in Nigeria

Remedial Health, a health-tech startup that develops solutions to make Africa’s pharmaceutical value chain more efficient, has secured $12 million in an equity and debt funding round.

Ghana Office Of Registrar Of Companies To Roll Out New Business Registration Software In Q1 2024

Ghana’s Office of the Registrar of Companies (ORC) with the assistance of the World Bank will procure a new software system for the online registration of businesses to replace its current system.

BIL UK Platform To Help Finance Small Businesses In Ghana In Their Local Currency

A UK initiative will provide Ghana’s small businesses with loans in the local currency, helping to tackle the $4.8 billion funding gap that is one of Africa’s largest for the sector. 

Ghana’s E-Levy Misses Target For 1st Half Of The Year

According to data from the Minister of Finance’s 2023 Mid Year Fiscal Review, the Electronic Levy (E-Levy) which places taxes on the electronic movement of money, failed to meet its target for the 1st half of 2023.

MTN Launches Its 5G Network In Uganda

MTN Uganda launched its 5G network in the East African country on 28th July. The company plans to upgrade base stations to the next-generation technology in all major Ugandan cities over the next two years.  

In the rest of the news:

• Amazon Preparing To Launch “Marketplace” In South Africa

• Flutterwave Rebrands Remittance $end Platform to Send App By Flutterwave

• Uber Kenya And Safaricom Announce Partnership To Allow Riders To Make Payments With M-PESA

• EV Company Spiro To Sign $63 Million Debt Financing Agreement With Societe Generale

• EMTECH Raises $4 Million Seed Investment Led By Matrix Partners India

• African Fintech and Web3 Leaders to Convene at the Africa Money and DeFi Summit in Ghana

Africa Ecosystem Funding Activity

• AfriLabs partners U.S. Department of State to address climate crisis via entrepreneurship - Disrupt Africa

• Egypt’s EdVentures, Saudi’s VMS join forces to revolutionise MENA ed-tech industry - Disrupt Africa

• Africa Impact Investing Group launched to drive capital for impact - Disrupt Africa

• 11 African student-run startups selected for Harvard, AWS programme - Disrupt Africa

• Nigerian merchant solution startup Traction raises $6m to accelerate growth - Disrupt Africa

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