funding

SunCulture’s $12 million funding

Ibolachi,

Victoria from Techpoint right here,

Right here”s what I’ve obtained for you immediately:

  • SunCulture’s $12 million funding
  • Sudan makes partial Web comeback
  • Airtel Africa buys extra shares

SunCulture’s $12 million funding

funding

Kenyan local weather tech startup SunCulture has obtained $12 million to amp up its photo voltaic irrigation recreation throughout Africa. 

Because of a partnership with InfraCo Africa and Savant Group Ltd., plus backing from large names like Acumen Funds, Reed Hastings (yeah, the Netflix co-founder), and Eric Schmidt (former Google bigwig), the corporate’s set to convey IoT-enabled solar-powered irrigation to tonnes of small farmers by 2030.

This money increase, a part of their Collection B funding, makes its complete funding a whopping $65 million. The local weather tech startup plans to get 274,000 photo voltaic irrigation techniques up and working in Kenya alone.

Based by Samir Ibrahim (CEO), SunCulture’s on a mission to assist farmers step up their recreation, ditching old-school strategies for greener, extra environment friendly options.

Its photo voltaic water pumps are successful, slashing prices and emissions in comparison with conventional pumps. Plus, its not stopping at irrigation – it’s eyeing up soil checks and insurance coverage too.

With solely a tiny fraction of African farmers getting access to irrigation, SunCulture needs to shake issues up and increase manufacturing large time. And based on Ibrahim, investing in irrigation may not be glamorous, but it surely’s a game-changer for farmers, boosting yields as much as fivefold.

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What’s extra, to this point, the corporate has bought over 47,000 solar-powered irrigation items, and it’s simply getting began. 


Sudan makes partial Web comeback

A screen showing the Internet in a red background with the "@" symbol
Photograph by Leon Seibert on Unsplash

Keep in mind this? Sudan’s Web shutdown hits over 14m customers 

After two months of Web shutdown in Sudan, some cell community operators are slowly getting again on their ft. 

Two telecoms operators — Sudani and Zain — are up and working, however their companies are spotty at greatest, with on-and-off connectivity for calls and information. 

Nonetheless, Sudatel, the government-owned telco, is doing higher, particularly in Port Sudan, the place it is offering dependable optical-fibre information companies. However the large participant, MTN, remains to be utterly offline throughout Sudan.

The year-long battle between the Sudanese Armed Forces and Fast Assist Forces is the foundation explanation for this whole mess, because it severely broken the nation’s telecommunications community. With cell towers and energy grids in shambles, about 14 million Sudanese of us are reduce off from the world.

Telecom suppliers are scrambling to get issues again to regular, but it surely’s powerful. The injury is in depth, messing up their techniques and inflicting all kinds of points with calls and web.

Surprisingly, although, Starlink has turned out to be a lifeline for lots of Sudanese, together with the Fast Assist Forces, through the blackout.

On a brighter notice, the Sudanese authorities gave the thumbs up for humanitarian teams to usher in telecom gear to assist out. The Emergency Telecommunications Cluster, launched final yr to assist in humanitarian efforts, is all for it. At the least there’s some progress within the works!


Airtel Africa buys extra shares 

Airtel Africa

Airtel Africa simply snagged 8.6 million of its shares from Citigroup as a part of its ongoing buyback plan, which kicked off in March. 

It’s planning to scoop up $100 million price of shares over the subsequent yr to trim down its debt and reduce working prices.

The deal means these shares it purchased are getting axed, which boosts the stakes for the remaining shareholders and units them up for fatter dividend payouts down the road. Plus, it offers Airtel extra say in its future strikes.

The corporate’s sticking to the principles specified by its cope with Citigroup and the inexperienced gentle it obtained from shareholders final yr to repurchase tens of millions of shares.

This buyback is going on in two chunks, with the primary $50 million batch working from March to August this yr. Of their newest transfer, Airtel snagged practically 488,000 shares from Citigroup at round $131.70 a share.

Segun Ogunsanya, Airtel Africa’s large boss, says the corporate is simply diving into this buyback as a result of their enterprise is raking in money. He reckons snapping up their very own shares is a great transfer given their rosy progress outlook.

But it surely hasn’t all been clean crusing. Like different firms in Nigeria, Airtel’s been hit by powerful financial instances, with income taking successful in December 2023 as a result of naira’s drop. To chop prices, Airtel has handed over tower operations to IHS Towers. 


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Have a enjoyable weekend!

Victoria Fakiya for Techpoint Africa.


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