Oluwatosin Alao

329 Articles
Angola seeks AfDB loan as oil supports growth amid debt pressure
BusinessTechnology

Angola seeks AfDB support as oil cushions impact of global shocks

Angola is seeking fresh support from the African Development Bank as it works to steady its finances in a volatile global environment, even as stronger oil prices offer some relief.  The government is in talks for a $165 million budget support loan, part of a wider plan to raise about $1 billion from external sources this year. Officials say the…

Oluwatosin Alao Oluwatosin Alao
Meta ends Sama deal; 1,100 Kenyan jobs lost as AI takes over
BusinessTechnology

Meta drops Sama, leaving 1,100 Kenyan workers facing layoffs

Meta Platforms is ending its contract with Kenyan outsourcing firm Sama, a decision that will leave more than 1,100 people out of work and reshape how the company manages content moderation in Africa.  The move marks a shift for the Facebook owner as it leans more on artificial intelligence to police harmful content, reducing its reliance on large teams of…

Oluwatosin Alao Oluwatosin Alao
rewrite in 80 character: Newmark opens luxury Thitaka River Lodge in Namibia, expanding Africa safari tourism with eco-friendly design and premium travel experiences. Newmark opens Namibia luxury safari lodge, boosting eco tourism
LuxuryTourism

Newmark expands Africa footprint with new Namibia safari lodge

Newmark Hotels & Reserves is expanding its presence in Africa’s luxury tourism market with the launch of Thitaka River Lodge, a tented safari camp set to open in July in Namibia’s Bwabwata National Park. The project comes as demand for high-end, nature-based travel continues to rise, drawing global investors and operators to the continent.  The lodge is located in the…

Oluwatosin Alao Oluwatosin Alao
Stellantis, Microsoft expand 5-year AI deal for cloud and car tech push
BusinessTechnology

Stellantis, Microsoft strike 5-year AI deal with Africa in focus

Stellantis and Microsoft have agreed to a five-year partnership that deepens their collaboration in artificial intelligence, cloud computing, and cybersecurity. The companies say the deal is aimed at reshaping how Stellantis designs, builds, and manages vehicles as the auto industry moves further into software-led systems.  The agreement reflects a broader push by global carmakers to rely more heavily on technology…

Oluwatosin Alao Oluwatosin Alao
Trafigura seals $1 billion Gabon oil deal, secures supply, boosts funding
BusinessTechnology

Trafigura pays $1 billion for Gabon oil, tightening grip on Africa output

Singapore-based commodities trader Trafigura has agreed to a $1 billion prepayment deal with Gabon, securing future crude supplies in a move that highlights the growing use of oil-backed financing across Africa.  The agreement gives Gabon immediate access to funds at a time when many resource-rich economies are looking for ways to steady public finances and fund development without taking on…

Oluwatosin Alao Oluwatosin Alao
EBRD backs $65 million Egypt solar, storage project at Benban Solar Park
BusinessTechnology

EBRD lends $65 million to HAU Energy for solar and storage project in Egypt

The European Bank for Reconstruction and Development is expanding its support for Egypt’s clean energy push with a $65 million loan to finance a new solar and battery storage project.  The funding targets a key gap in Egypt’s power system as demand rises and the country leans more on renewable energy. Officials say combining solar generation with storage will help…

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Uber, Lucid, PIF invest $750 million to scale robotaxis and EV tech
BusinessTechnology

PIF, Uber invest $750 million in Lucid as robotaxi push gains traction

Saudi Arabia’s push to invest beyond oil is intersecting with Silicon Valley’s race to develop self-driving transport, as Uber Technologies Inc., Lucid Group Inc. and an affiliate of the Public Investment Fund deepen a partnership backed by a combined $750 million commitment.  The agreement reflects a broader shift in the electric vehicle and autonomous driving space, where funding is increasingly…

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Mobica plans $20 million Egypt auto investment as local rules reshape supply chains
BusinessTechnology

Mobica targets $20 million investment as Egypt’s auto manufacturing expands

Egypt’s effort to build a stronger domestic auto industry is moving beyond policy statements as new private investment begins to flow into local supply chains. The government has been working to reduce reliance on imported vehicle parts while encouraging manufacturers to produce more components inside the country.  The shift is becoming more visible as companies start to adjust their long-term…

Oluwatosin Alao Oluwatosin Alao
MTN Nigeria tests 25Gbps link with Huawei Nigeria to boost 5G
BusinessTechnology

MTN Nigeria rolls out first 25Gbps microwave link in sub-Saharan Africa

MTN Nigeria has taken a step forward in its network upgrade plans after testing what it says is the first commercial 25Gbps full-duplex microwave link in sub-Saharan Africa, working with Huawei Nigeria. The trial, carried out on the E-band (80 GHz) spectrum, points to how operators are seeking faster, more efficient ways to support 5G services in Nigeria.  The move…

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Botswana signs Oman energy, mining deals to cut diamond reliance
BusinessTechnology

Botswana, Oman strike energy, mining deals to boost Africa ties

Botswana is stepping up efforts to reduce its reliance on diamonds, signing new agreements with Oman that span energy, mining and infrastructure. The deals come as the Southern African country faces softer global demand for diamonds, a sector that has long supported public finances and economic growth.  For years, diamonds have accounted for about a third of Botswana’s economy. But…

Oluwatosin Alao Oluwatosin Alao
Royal Livingstone Zambia unveils upgraded Zambezi riverfront rooms
LuxuryTourism

Royal Livingstone Hotel in Zambia unveils upgrade with Zambezi views

The Royal Livingstone Victoria Falls Zambia Hotel by Anantara has completed a wide-ranging upgrade of its riverside rooms, reinforcing its position as one of Zambia’s best-known luxury stays along the Zambezi River. The property sits on the edge of the river, close to Victoria Falls, where it draws international travellers looking for comfort paired with direct access to one of…

Oluwatosin Alao Oluwatosin Alao
Cross Switch launches Absa Pay in South Africa
BusinessTechnology

Cross Switch launches Absa Pay in South Africa, expanding digital payments

Cross Switch has launched Absa Pay in South Africa, expanding its payments offering as demand grows for secure, bank-authenticated checkout options across the country’s fast-developing digital economy. The rollout gives merchants a new way to process payments that keeps transactions within a trusted banking environment.  The launch comes as South Africa’s e-commerce market continues to expand, supported by rising smartphone…

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