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Barclays PLC, with a consensus rating of "Moderate Buy," operates across various financial services globally. Recently, the company reported a quarterly EPS of $0.65, surpassing estimates, and announced a semi-annual dividend increase to $0.2737, yielding 2.7%. Despite positive ratings, top analysts suggest five other stocks as better investment options.
Huawei Nigeria has launched a state-of-the-art innovation centre to enhance the country's digital transformation and industrial intelligence, marking a significant milestone in its 25-year presence in Nigeria. The centre aims to foster collaboration among customers, partners, and ICT professionals to explore emerging technologies and co-create solutions across various sectors. Key figures, including the Minister of Communications and Lagos State Governor, praised Huawei's contributions to Nigeria's ICT landscape and the launch of the first hyper-scale local cloud, which addresses data sovereignty concerns.
Ghanaian retail-tech startup Tendo has secured funding from Renew Capital to expand its operations. Founded in 2021, Tendo connects individuals with suppliers, enabling them to launch online businesses without initial capital. With a network of over 10,000 resellers across Ghana and Nigeria, the platform aims to empower users to earn income and grow their businesses using smartphones.
Nigerian B2B e-commerce startup OmniRetail has secured $20 million in Series A funding to expand its operations in West Africa. Founded in 2019, the company supports informal retailers through its platform, Omnibiz, and tools like OmniPay and Mplify, serving over 150,000 small retailers across 12 cities. The funding round, co-led by Norfund and Timon Capital, will enhance its embedded finance products and logistics infrastructure in Nigeria, Ghana, and Ivory Coast.
OmniRetail, a Nigerian B2B e-commerce startup, has secured $20 million in a Series A funding round co-led by Norfund and Timon Capital, marking Norfund's first direct equity investment in an African startup. Founded in 2019, the company connects over 145 manufacturers and 5,800 distributors with more than 150,000 informal retailers across Nigeria, Ghana, and Ivory Coast through its mobile app, which facilitates inventory orders and digital payments.With this investment, OmniRetail aims to expand its market presence and enhance its embedded financial services, having already achieved EBITDA positivity in 2023 and net profitability in 2024. The company has raised a total of $38 million in equity and debt funding, positioning itself as one of Africa's fastest-growing companies.
Turkish fintech Sipay has raised $78 million in a Series B funding round, elevating its valuation to $875 million. Targeting emerging markets, Sipay aims to provide an all-in-one fintech platform that includes remittance solutions and white-label tools, challenging established players like Stripe. With over 25,000 registered merchants in Turkey, the company plans to expand into Africa, Southeast Asia, and the Middle East, addressing the growing demand for digital financial services.
A Nigerian tribunal has upheld a substantial fine of $220 million against Meta. This decision reinforces the legal repercussions faced by the tech giant in the region, highlighting ongoing regulatory scrutiny over its operations. The ruling marks a significant moment in the relationship between Meta and Nigerian authorities.
The Presidential Power Initiative (PPI) aims to enhance Nigeria's electricity capacity through three phases, ultimately reaching 25 GW. A pilot project with Siemens Energy and Deutsche Bank will add 1,300 MW via mobile substations, improving grid reliability and reducing outages.In Cameroon, the National Development Strategy 2020–2030 includes a commitment to deliver 11,300 km of asphalt roads by 2027, with the Olounou-Oveng project expected to boost trade and reduce travel time. Funded by a €94.8m ECA facility, the project is now in the construction phase.
Dr. Antonio Krueger, CEO of DFKI, highlights diverse AI innovations at GITEX, including smart factories and AI-driven nutrition for elite athletes. The event also emphasizes Europe's €7 billion quantum investment, cyber resilience amid rising threats, and a focus on sustainable technologies. With over 750 startups and 600 investors, GITEX fosters global collaboration and innovation across various sectors.
Sabou Capital has launched an investment fund targeting small and medium-sized enterprises (SMEs) in West and Central Africa, planning to invest between US$350,000 and US$1.5 million in 25 companies at late pre-seed to Series A stages. Founded by Surayyah Ahmad, the fund focuses on sectors like agriculture, renewable energy, and logistics, supporting both English- and French-speaking countries, particularly Nigeria, Senegal, and Ivory Coast. Unlike traditional venture capital, Sabou Capital aims for modest returns of 2x to 3x, emphasizing hands-on support to ensure companies are investment-ready.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
barclays receives moderate buy rating as institutional investors increase stakes
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huawei launches innovation centre to enhance digital transformation in nigeria
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