Accelerex Holdings secures US $ 20m investment from Africa Capital Alliance
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payments services operation in October 2013 upon obtaining approval from the Central Bank of Nigeria ( CBN ).
Accelerex commenced operations in Ghana in 2019 and plans to expand into Cote d ’ Ivoire , Kenya , Tanzania and South Africa over the next 24 months with the new investment from ACA .
The latest round of funding will also drive new product development across the group .
Accelerex Holdings Mauritius , has announced that it has signed an investment agreement with regional private equity firm , Africa Capital Alliance , for the Capital Alliance Private Equity IV ( CAPE IV ) fund to invest US $ 20 million in Accelerex .
With the investment , CAPE IV will become a strategic partner in Accelerex and will hold three seats on the company ’ s board . Global Accelerex was incorporated in 2008 and commenced
Tunde Ogungbade , CEO , Global Accelerex , said : “ I am very excited by the ACA investment . In our quest for the right investment and strategic partner , we were looking for a company that shares our vision to empower businesses in Sub-Saharan Africa to exceed all their customers ’ payment expectations .
“ This partnership will help Accelerex to aggressively expand into Africa and accelerate product development . I see our vision becoming a reality with this move ”
Paul Kokoricha , Partner at ACA , stated that with the huge potential of FinTechs in Africa , good funding and strong expertise are crucial to scalability .
Orange unveils Djoliba to strengthen connectivity network in West Africa
At the recently held AfricaTech Festival international trade fair , Orange and its subsidiaries announced the commissioning and commercial launch of Djoliba , the first pan-African backbone .
The infrastructure is based on a terrestrial fibre optic network , coupled with undersea cables , offering secure connectivity abroad from West Africa . The investment aims to support the digital ecosystem and meets the growing needs for connectivity in the region .
Djoliba is the first unified superfast broadband network that provides seamless connectivity , with better availability thanks to network redundancy and security , and excellent quality of service .
This new backbone covers eight countries namely Burkina Faso , Côte d ’ Ivoire , Ghana , Guinea , Liberia , Mali , Nigeria and Senegal . Natively interconnected with the domestic networks within the countries , this broad coverage will generalise access to connectivity for operators and companies .
Alioune Ndiaye , CEO , Orange Middle East and Africa , said : “ Orange is actively contributing to the development of undersea and terrestrial infrastructure which enable the African continent ’ s Digital Transformation , by investing 1 billion euros each year .
“ With Djoliba , local populations will be able to access healthcare or educational services more easily , as well as the applications offered by cloud computing .”
Jérôme Barré , CEO , Orange Wholesale and International Networks , said : “ With Djoliba , Orange is once again confirming its expertise and leadership in the deployment and operation of international terrestrial and undersea networks .” www . intelligentcio . com INTELLIGENTCIO
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