Author: Elan
Africa’s startup funding market is entering a new phase as investors increasingly return to equity financing after three years in which debt became a muchSubscribe to keep reading Royal Ibeh Royal Ibeh is a senior journalist with years of experience reporting on Nigeria’s technology and health sectors. She currently covers the Technology and Health beats for BusinessDay newspaper, where she writes in-depth stories on digital innovation, telecom infrastructure, healthcare systems, and public health policies.
Rwanda to beat South Africa to continent’s first F1 race in decades – African Business Rwanda to beat South Africa to continent’s first F1 race in decades – African Business
Strategy estimated a $4.1 billion income-tax benefit after Bitcoin’s fair value rose above cost as of Sept. 30, according to its Oct. 5 filing. The benefit comes from a lower estimated tax expense through an accounting adjustment.The filing shows what can change when Bitcoin crosses a large holder’s cost basis. The next consequence depends on the position being measured: a company’s Bitcoin holdings, an ETF’s underlying assets and an investor’s ETF shares each have their own purchase history.Strategy said it reversed a deferred tax asset related to its Bitcoin and released the associated valuation allowance. These management-prepared financial figures had…
Glovo, the global on-demand delivery platform, has appointed Reni Onafeko as its new Country Managing Director for Nigeria, replacing Lamide Akinola, who stepped down after more than three years in the role. Onafeko, who has steered Glovo’s Nigerian operations since the beginning of 2026, will now lead its next phase and growth strategy, including expansion across Lagos, Abuja, Port Harcourt, and Ibadan, the company said in a statement. Her appointment comes as Glovo continues to expand in Nigeria, which it says closed 2025 as its fastest-growing market globally. At its Future of Commerce summit in April, the company disclosed that…
Rockstar Games does not want Grand Theft Auto 6 to be too specific about any real person, event, or political movement, according to Rupert Humphries, the studio’s senior vice president of narrative.Humphries made the comments in a new interview with Love magazine, about six weeks before GTA 6 launches on PS5 and Xbox Series consoles on November 19, 2026.Humphries says earlier Grand Theft Auto games never put much focus on national politics. He points to GTA 4 as the closest example, where Homeland Security and the Patriot Act were central themes because post-9/11 New York was a frontline for those…
Author portrait: Javier Martínez SamblasCredit: Courtesy of Javier Martínez Samblas By Javier Martínez Samblas Commentary The conventional CV remains central to hiring, but it can leave important questions unanswered. A two-page summary may tell an employer what someone has done without explaining how they worked, the constraints they faced or the evidence behind their claims. Africa’s employment challenges are often discussed in terms of jobs and skills. There is also a practical problem between them: making experience understandable. Work undertaken in unfamiliar companies, informal enterprises, short-term projects or markets outside an employer’s own can be difficult to interpret. Candidates compress…
French development finance institution Proparco is investing $20 million in South Africa’s Frogfoot, Vox and Hypa as part of a broader consortium managed by private equity firm Metier.Frogfoot operates fibre networks across South Africa, while Vox and Hypa provide internet and connectivity services to households and businesses. Frogfoot and Vox are separate privately held South African companies, but they have the same shareholders. Vox wholly owns Hypa, operating it as a subsidiary and dedicated prepaid internet service brand.The Metier-led consortium brings together European DFIs British International Investment, BIO and DEG alongside South African commercial investors including Ke Nako Capital, Nedbank…
Our new book, How we made it in Africa II: Real stories of entrepreneurs turning opportunity into profit, is available here. The book was recently shortlisted for the Business Council for Africa (BCA) African Business Book of the Year Awards 2026.AfricaWorks founder Grégoire Schwebig says the co-working space operator is considering expanding to Conakry, Guinea’s capital. He revealed this in a recent interview with How we made it in Africa.Guinea, a country of just under 18 million people, has historically drawn less attention than other West African markets such as Ghana, Côte d’Ivoire and Senegal. But according to Schwebig, multinationals…
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Fairshake, the political action committee (PAC) backed by contributions from Coinbase, Ripple Labs and Andreessen Horowitz, announced that it would initially spend a combined $6 million on six House of Representatives candidates out of 32 people the group planned to back ahead of the 2026 US midterm elections.On Monday, Fairshake said that it would support 19 Republican and 13 Democratic incumbents in US House races for 2026. The PAC is expected to spend more than $100 million on ads supporting House and Senate candidates in 2026, including at least $30 million in Ohio’s Senate race to back Republican Jon Husted…