MTN to buy South African wireless telecommunications provider, Telkom. 2 other stories and a trivia

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

1. MTN to buy South African wireless telecommunications provider, Telkom

Telecommunications giant, MTN Group Ltd., on Friday, announced plans to acquire domestic rival, Telkom SA SOC Ltd.

MTN’s announcement comes in a statement, noting that the deal will see the combination of South Africa’s second and third-largest telecommunications operators.

Ripples Nigeria understands that discussions are still budding and transactions between both parties are yet to be authenticated.

According to local media, the deal would make MTN pay for the partially state-owned company in shares or a combination of cash and stock.

“The transaction, if concluded, may have a material effect on the price of the company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a further announcement is made,” MTN said.

The acquisition is expected to help MTN bridge the gap behind the largest mobile operator Vodacom.

Tech Trivia: What does the online advertising metric RPM measure?
A. Revenue per 1,000 impressions
B. Revenue per 1,000,000 impressions
C. Revenue per 1,000 clicks
D. Revenue per 1,000,000 clicks
Answer: see end of post

2. Investment platform, Lightyear, secures $25 million Series A round

Investment platform, Lightyear, has on Friday announced securing $25 million in a Series A round led by Lightspeed Venture Partners.

Read also:South Africa’s DigsConnect closes Pre-Series A seed extension round. 2 other stories and a trivia

Lightyear co-founder and CEO Martin Sokk confirmed in a statement that Mosaic Ventures, Taavet+Sten, and Metaplanet all participated in the round alongside new investor Virgin Group and many new and existing angel investors.

Lightyear, according to Sokk, combines multi-currency accounts — where users can add, hold and invest in different currencies — with access to global markets so users can invest.

Martin Sokk, and Mihkel Aamer co-founded the U.K.-based fintech in 2020.

“We’ve secured a European license that enables us to launch across the continent and raised one of the largest Series A rounds in 2022,” said Sokk

The company further announced expansion into 19 European markets, including Ireland, the Baltics, Spain, Germany, Italy, Portugal, Netherlands, and France.

3. Catalyst Fund secures $3.5M from FSD Africa

A Kenyan tech accelerator, Catalyst Fund, managed by BFA Global, announces securing $3.5M from FSD Africa to support African entrepreneurs.

Maelis Carraro, Managing Director of Catalyst Fund, confirmed receiving the funding on Friday in a media release.

Ripples Nigeria gathered that Catalyst Fund is also supported by the UK Foreign, Commonwealth, and Development Office (FCDO), JPMorgan Chase & Co., and PayPal.

Carraro claims that Catalyst Fund supports early-stage startups building innovative Fintech solutions for the 3 billion underserved in emerging markets.

Miriam Freeman, Vice President for Global Philanthropy at JPMorgan Chase, expressed JPMorgan Chase’s commitment to helping advance a sustainable and inclusive economy.

“In addition, we are helping advance community resilience to climate change,” said Miriam.

Trivia Answer: Revenue per 1,000 impressions

RPM stands for “Revenue Per Mille.” The word “mille” means “one thousand” in Latin, so RPM is short for “Revenue Per 1,000 Impressions” in online advertising.

It is similar to CPM but measures the revenue from 1,000 ad impressions instead of the cost of the ads.

By Kayode Hamsat

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