Norsad partners TLG to support Africa with $400m. 1 other story and a trivia

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

1. Norsad partners TLG to support Africa with $400m

Norsad Capital and TLG Capital have announced a partnership to launch $400m to support medium-sized companies across sub-Saharan Africa.

This was contained in a statement from Norsad chief executive, Kenny Nwosu, on Friday.

Norsad, according to TLG co-founder and partner Zain Latif, is a reputable organization in the African investing community.

Commenting on the partnership, Nwosu said:

“Our purpose as an organisation is to build a better Africa by providing financing to mid-market growth companies that contribute towards the continent’s economic growth and improvement.”

Ripples Nigeria understands that the partnership will have combined assets under management of circa $400 million towards investments in mid-sized companies in sub-Saharan Africa.

Tech Trivia: Tradacoms was an early version of what type of standard?
A. EDI
B. OASIS
C. ASCII
D. MPEG
Answer: see end of post

Read also:Lagos-based startup, Taeillo, secures $2.5M funding. 2 other stories and a trivia

2. Fawry partners Classera to enhance Egypt’s Edutech sector

Fintech and banking services company, Fawry has announced a partnership deal with teaching and distance learning technology startup, Classera.

Mr. Hossam Ezz, Fawry’s Chief Commercial Officer, confirmed the partnership in a media release on Friday.

According to the release, Fawry will provide all technology solutions and integrated digital payment services to Classera customers.

Mr. Ahmed Fahmy, Commercial Director at ‘Fawry’, said:

“We are excited to cooperate with ‘Classera’ to enhance e-payment services in the field of educational technology and to provide students and trainees with an easy and completely secure payment experience through the integration of “Fawry” and “Classera CPay” solutions.”

Ripples Nigeria understands that the partnership will enhance e-payment services and integrate the digital payment solutions of Fawry and Classera Cpay.

Trivia Answer: EDI

Stands for “Electronic Data Interchange.”

EDI is a standardized method for transferring data between business networks.

An EDI system translates data from a company’s internal system into a common language that can be understood by that company’s trading partner’s systems

By Kayode Hamsat

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now