Dell to slash 5% of global workforce. 2 other stories and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today

1. Dell to slash 5% of global workforce

Dell Technologies is set to eliminate about 6,650 jobs or about 5% of its global workforce.

This was contained in a memo written by co-Chief Operating Officer, Jeff Clarke, to employees on Monday.

With the layoff plans, Dell joins the long list of companies, including IBM Alphabet’s Google, Microsoft, and Amazon that have cut down on their staff capacity.

The company is experiencing market conditions that “continue to erode with an uncertain future,” wrote co-Chief Operating Officer Jeff Clarke.

A corporate representative noted that the potential to increase efficiency exists with departmental restructuring and employment reduction.

Tech Trivia: What type of app is most likely to have a built-in spell-check feature?
A. Video Editor
B. Image Editor
C. Word processor
D. Audio recorder
Answer: see end of post

2. Africa’s mezzanine fund manager, Vantage Capital, closes fourth mezzanine fund

Africa’s mezzanine fund manager, Vantage Capital, announced the final close on its fourth mezzanine fund.

Read also:Jack Ma-backed startup, Releaf, secures additional $3.3m funding. 2 other stories and a trivia

Warren van der Merwe, managing partner, in a press release on Monday noted that a total of $377 million has been raised.

Ripples Nigeria gathered that the funding was secured from a mix of European and US-based commercial investors, as well as a host of development finance institutions (DFIs) that include IFC, BII, SIFEM, DEG, Norfund, Swedfund, Finnfund, and EIB.

Vantage claims it would continue to provide mid-sized African businesses with flexible capital to drive business expansion and support job creation.

“Our fundraising success, in such a challenging environment, is a validation of the mezzanine asset class in Africa and our role as a pioneer in this space over the past 17 years,” noted van der Merwe.

Billed as the largest independent mezzanine financier on the continent, Vantage Capital’s Mezzanine business has made 33 investments across four funds in 11 African nations since 2006.

3. Yemen-based food delivery startup, Tawseel, secures investment from Numu Capital

Yemen-based food delivery startup, Tawseel, on Monday secured investment from Numu Capital.

Jamal Al-Mutarreb, the managing director of Numu Capital confirmed the funding in a media release.

Abdulhamid Thaiban established the firm in 2022 intending to create a one-stop app for neighborhood restaurants to handle internet orders from customers in tier-1 cities across the nation.

Tawseel will be able to grow its business in its local market thanks to the recent capital infusion.

“Most of our investments have been historically in [the] GCC and Egypt, and we frankly didn’t expect to meet a startup as sophisticated as Tawseel in Yemen given the current economic situation, noted Al-Mutarreb.

Trivia Answer: Word processor

Spellcheck is a feature included with various operating systems and applications that checks the text for spelling errors. Some spell checkers must be run manually, while others check each word as you type.

By Kayode Hamsat

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