Insurtech MyCover.ai Raises $1.25M Pre-Seed Funding

MyCover.ai, the insurtech startup building Africa's digital insurance infrastructure, today announced the completion of a $1.25 million pre-seed fundraising round led by Ventures Platform. Founders Factory Africa and TechStars participated in the round, which is a follow-on investment after the start-up's participation in its 2022 Toronto Accelerator programme. MyCover.ai will use the funds to develop its in-house operations and tech personnel, invest extensively in proprietary technology, and strategically expand into other African markets.

Arab-Africa Trade Bridges Launches US$1.5Billion Food Security Program

In the midst of the ongoing global food security crisis, the Executive Committee of The Arab-Africa Trade Bridges (AATB) Programme, a multi-donor, inter-regional programme, established a US$1.5 billion Food Security Programme to address concerns of food insecurity in the Arab and African areas. The crisis is a major challenge confronting the globe today, and it remains a top priority on the international development agenda.

Q2 2023 Media Performance Analysis Report: Subscription-Based Streaming Services, Telecom, and Insurance Companies in Nigeria

The Nigerian media sector is experiencing rapid growth and facing strong competition as it continues to evolve. P+ Measurement Services, a leading media intelligence consultancy, analyzed the top media performers in the Nigerian subscription-based streaming services, telecommunications, and insurance sectors for the second quarter of 2023. 

MGI Scrabble Premier League Enters Final Stage

The annual MGI Scrabble Premier League, a competition modelled after the game of football, ended its preliminary stages on Saturday, June 24, 2023, at Homeville Plus Hotel Benin in Edo State. At this stage of the competition, Ewarah Squiz and Whisky Godsfavour won their respective divisions.

Ousmane Fall appointed as Director of Non-Sovereign Operations and Private Sector at African Development Bank

The African Development Bank Group (AfDB) has appointed Senegalese native, Ousmane Fall as Director of Non-Sovereign Operations and Private Sector, beginning August 1, 2023.

China’s Scientists, Zhong Lin Wang and Ruzhu Wang Receive the 2023 Global Energy Prize

...$430,000 Grant Evenly Distributed Between the Two Chinese Laureates

Two Chinese researchers have emerged as the recipients of this year’s 2023 Global Energy Prize. The grant of $430,000 was presented by the Global Energy Association for the Advancement of International Energy Research and Projects, who are Chinese scientists. Zhong Lin Wang, the Founding Director of the Beijing Institute of Nanoenergy and Nanosystems, emerged as the winner in the category “Non-Conventional Energy”. Additionally, Ruzhu Wang, a Professor at Shanghai Jiao Tong University, was honoured with an award in the category “New Ways of Energy Application”.

SuccessBOX Excellence Award: Chronicles Software Pledges N2 million Reward to Best WAEC Students in Lagos State

Chronicles Software, an education technology business, has promised to reward the best students in the West African Senior School Certificate Examination (WASSCE) in Lagos State with a sum of N2 million as part of its SuccessBOX Excellence Award program.

Warner Music Group and TikTok Expand Licensing Agreement

Warner Music Group and TikTok announced a broad collaboration, providing the popular video app access to the music label's catalogue and potentially new revenue options for artists and composers.

Canon celebrates production of 110 million Electro Optical System series cameras, 160 million interchangeable RF/EF lenses

Canon Inc. announced in March that it had hit two important manufacturing milestones: 110 million EOS Series interchangeable-lens cameras and 160 million[2] RF/EF Series interchangeable lenses. The 110 millionth EOS series camera was an EOS R6 Mark II (issued in December 2022), whereas the 160 millionth interchangeable lens was an RF 100mm F2.8 L MACRO IS USM (launched in July 2021).

Tesla directors agree to return $735m to settle claims they were grossly overpaid

Tesla directors, including its CEO Elon Musk, who were recently accused of earning excessive remuneration, have negotiated a $735 million settlement with the corporation. The Detroit Police and Fire Retirement System filed the case in 2020, contesting the validity of stock options granted to Tesla's board of directors from 2017 to 2020, totalling around 11 million options.

EXMAN 10th Anniversary and Awards Gala: GDM Group Wins Five Industry Awards

GDM Group, Nigeria's leading marketing and media technology company, renowned for bespoke service offerings ranging from marketing tech solutions, big data management, and 360 integrated marketing services, has received five awards in recognition of its performance in setting standards of excellence in executed brand strategy, experiential marketing, digital integration, product development, and integrated experience.

Djibouti Ports and Free Zone Authority receive US$155 million strategic loan from Afreximbank

The African Export-Import Bank (Afreximbank) in Nairobi announced the disbursement of a $120 million financing facility to Djibouti's Great Horn Investment Holding (GHIH) for the implementation of a series of development projects in the country's Damerjog Industrial Development Free Trade Zone.

African Union Commission, UNDP launch Africa Facility to Support Inclusive Transitions

On the sidelines of the 5th African Union Mid-Year Coordination Meeting in Nairobi, Kenya, on 15 July 2023, the African Union Commission (AUC) and the United Nations Development Programme (UNDP) established the Africa Facility to Support Inclusive Transitions (AFSIT). AFSIT intends to assist nations through complicated political transitions as well as countries in danger.