Individuals
Businesses
Company
Intelligence
News
African Capital Markets
EnglishEnglish

Market Update: Airtel invests $29m for 5G rollout in Zambia

3 min Read October 18, 2022 at 5:00 PM UTC

Daba finance invest in Africa

Airtel expends $29m on spectrum for 5G rollout in Zambia

Image from TechCabal

Highlights

  • Airtel Zambia has purchased 60MHz of additional spectrum spread across the 800MHz and 2600MHz bands from the Zambia Information and Communications Technology Authority (ZICTA), for a gross consideration of $29 million.
  • The additional spectrum will support the expansion of the telco’s capability in providing mobile data and fixed wireless home broadband services and help accelerate the 5G rollout.
  • In August, ZICTA said it had revised the 5G Spectrum Roadmap for the release of spectrum in the 700MHz and 2600MHz bands, due to high demand, reflecting the country might soon see its first commercial 5G rollout. 

Source: TechCabal


Our Takeaway

The rollout of the 5G network is accelerating in Africa. Recently, Nigeria joined South Africa and Kenya as the three African nations to have launched commercial 5G services. South Africa received the network in 2019 through provider Rain, while Kenya saw Safaricom launch its first 5G services in 2021. In the rest of the continent, Ghana and Egypt are hot on the heels of these three nations, expecting a rollout sooner rather than later. For the African tech industry, 5G could potentially unlock a broad range of opportunities, including optimizing service delivery, decision-making, and end-user experience.


Egyptian e-commerce Kenzz closes $3.5m seed round

Image from TechCrunch

Highlights

  • Kenzz, an e-commerce platform bringing shopping to the mass market in Egypt and MENA, is announcing that it has raised $3.5 million in seed funding. 
  • U.S.-based and MENA-focused venture capital firm Outliers Ventures led the round. Other participating investors include HOF Capital, Foundation Ventures, and Samurai Incubate.
  • The company, founded this February by Ahmed Atef, Mahmoud Al Silk, and Moataz Sami, said it would use the seed round to grow its product categories, widen the product categories on its platform, hire talent and invest in tech as it launches its app.

Source: TechCrunch


Our Takeaway

E-commerce in Egypt is as massive as fintech in the rest of Africa. Available data suggest that up to 20% of tech startups in the country are in the e-commerce and retail sectors, and about 40% of Egyptians purchase consumer goods online weekly. But most of these shoppers patronize big e-commerce platforms such as Amazon, Jumia, and Noon, which primarily focus on Egypt’s largest cities Cairo, Alexandria, and Giza. It’s the neglected mass market in untapped cities Kenzz was launched to address and the optics are favorable, given a projected boom in e-commerce adoption in the region. 


Lagos state government to launch a venture capital fund

Lagos state government to launch a venture capital fund
Image from TechCabal

Highlights

  • The government of Lagos State, where Nigeria’s commercial and startup capital city is located, is planning to launch its own venture capital fund that would “write bigger equity cheques for Nigerian startups than most privately-owned VC.”
  • TechCabal reported this, citing the special advisor to the state governor on innovation and technology, Olatunbosun Alake, who was speaking on the sideline of the GITEX event in Dubai.
  • Alake revealed the cross-sectoral fund would be launched “a few weeks from now” and the state is already in conversations with some local and foreign investors that would join as limited partners (LP).

Source: TechCabal


Our Takeaway

Lagos is Nigeria’s, and very much, Africa’s startup capital. The state hosts most of the country’s startups; attracts the majority of venture capital investment, and is home to the bulk of Africa’s seven unicorns. The intent to launch a state-backed VC fund thus represents an attempt by the government to both join and support the state’s tech startup boom, especially at a challenging time for global VC funding. But it’s not unusual, the governments of Dubai and Senegal for example have recently set up respective funds to catalyze entrepreneurship in their jurisdictions through equity and debt funding. 

This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Articles do not reflect the views of DABA ADVISORS LLC and do not provide investment advice to Daba’s clients. Daba is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.

Share this post
share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram
Stay informed with our newsletters read by 25,000+ professionals worldwide
Newsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companies

Next Frontier

Stay up to date on major news and events in African markets. Delivered weekly.

Pulse54

UDeep-dives into what’s old and new in Africa’s investment landscape. Delivered twice monthly.

Events

Sign up to stay informed about our regular webinars, product launches, and exhibitions.

+25k investors have already subscribed

Take action.

Download app

Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.

Partner with us

Unlock exciting business opportunities and growth potential.

Join Daba

Become a part of our vibrant community and enjoy exclusive benefits.

Contact us

Reach out to us for inquiries, support, or collaboration.
For Investor
StrategiesPortfolio ManagementAfrican Capital MarketsNews
Daba Pro Intelligence
For Capital Seekers
For StartupsFor Fund ManagersFor Private CompaniesFor Lenders
For Partners
Commercial BanksBroker DealersAsset ManagersInvestment BanksInvestment Advisors and ConsultantsLenders and Microfinance
Company
About UsMarket UpdatesEventsBlog and PodcastNewsletterCase StudiesAffiliate ProgramInvesting GlossaryOfficial ContactsTrust, Compliance and SecurityFrequently Asked Questions

Terms & ConditionsPrivacy Policy
EnglishEnglish

Owned by Daba Markets Inc. By using this site, you accept our Terms and Conditions and Privacy Policy. © 2024 All rights reserved. 2025 All rights reserved