E-Business
Peninsula Capital, Others Make 2nd Round Growth Capital Investment in Rancard
Rancard has announced that it has concluded its second institutional investment round led by Peninsula Capital, a private investment management company, based in Menlo Park, California. Also participating in the round were existing investors, Intel Capital, Intel’s global investment and M&A organization and Adlevo VAS Holdings an investment holding company managed by Adlevo Capital Managers (“Adlevo Capital”), the technology-focused African private equity firm.
Commenting on the investment, Kofi Dadzie, chief executive officer of Rancard, said: “This investment will boost our efforts in growing a world class team, building critical partnerships and in deepening our technology base as we continue to deliver compelling technology for mobile network operators, content and service providers across Africa. We’re delighted to have Mr. King, an experienced Silicon Valley-based venture investor join Adlevo and Intel Capital to deepen the wealth of experience, knowledge and access available to Rancard”.
Rancard in July 2012 received its first institutional investment from Adlevo and Intel Capital and has since strengthened its management bench, deepened its product technology and is better positioned in its expansion to key markets across the African continent.
Robert King, founder of Peninsula Capital LLC, commenting on the investment, said he believes Rancard has the potential to be a global softwareenterprise. Their focus on mobile communications, positions them to be on the leading edge of this space.
Marcin Hejka, managing director, Intel Capital Eastern Europe, Middle East, Africa and Russia/CIS, stated that “Intel Capital continues to believe in the tremendous growth opportunity in the technology ecosystem across the continent. Companies like Rancard play a big role in the region’s economic growth, and it is our mission to foster technology innovation on the continent.”
Tobi Oke, investment director for Sub-Saharan Africa, added that “Rancard’s focus on cloud-based mobile software puts it in a unique position to take advantage of the rapid growth of mobile phone usage in the region, and will help accelerate the uptake of technology and online services.”
Also, Yemi Lalude, managing partner of Adlevo Capital said: “This follow-on investment is a recognition of the exciting progress made by Rancard since our initial investment in July 2012. As the mobile value-added services industry transitions from SMS to voice and data-based offerings, Rancard is in a key position to help its customers drive significant incremental revenue”.
E-Business
Hisense Electronics Unveils Flagship Showroom in Abuja
By Fabian Tarpael, Abuja
Hisense electronics unveiled a flagship showroom in Abuja over the weekend. Speaking at the event, Mr. Mustapha Khries, the Abuja Branch Manager of the Fouani Group, highlighted the significance of the flagship store, describing it as the first of its kind in the entire West African region.
He also addressed the challenges facing businesses in Nigeria, particularly the high exchange rates and transportation costs.
“The Fouani Group remains resilient and ready to overcome challenges, unlike others who often exit the market when faced with similar issues.”
Ms. Haifa Du, Senior Sales Manager for Hisense Electronics, emphasized the brand’s commitment to affordability and innovation, stating that Hisense offers the most cost-effective and advanced solutions in the market.
The event underscored Hisense’s dedication to technological innovation and sustainability while reaffirming its leadership position in the consumer electronics market.
Mr. Robbin Wei, Senior Sales Manager of Hisense Group, supported by Mr. Greg and Ms. Haifa Du, showcased various innovative products from the new flagship store.
Among the standout products showcased include; The Hisense 110″ Smart Ultra AMOLED TV, featuring unique capabilities such as a solar-powered remote control and a “locate remote” function to find misplaced remotes easily.
E-Business
PalmPay, Jumia Partner to Launch Integration for Shoppers in Nigeria
PalmPay, Africa-focused fintech operating Nigeria’s most used mobile wallet, and Jumia, Africa’s e-commerce giant, today announce a strategic partnership to enhance the digital payment ecosystem on the continent, starting with payment integrations and co-marketing efforts in Nigeria.
This partnership underscores both parties’ commitment to developing the digital payment ecosystem in Nigeria and grow the use of the cashless economy.
WIth PalmPay now available as a payment method, shoppers on Jumia will now be able to pay for their purchases with the option to check out with their PalmPay wallet, ensuring a seamless user experience and transaction reliability through the direct integration.
“We are proud to partner with Jumia as we bring together the best of fintech and e-commerce to redefine the online shopping experience,” said Sofia Zab, Chief Marketing Officer, PalmPay. “This strategic alliance aligns perfectly with our shared commitment to delivering a superior user experience and exceptional value to our customers.”
Speaking on the partnership, Sunil Natraj, CEO, Jumia Nigeria added: “At Jumia, we are dedicated to creating value for our customers by ensuring a convenient, reliable, and secure shopping experience.
“This partnership with PalmPay strengthens our commitment to enhancing the digital payments within our platform. By integrating PalmPay, we are providing more options for customers to access affordable and quality goods with the convenience of cashless transactions.”
This alliance marks the beginning of a long-term collaboration between two industry giants, aiming to drive innovation, increase convenience for consumers, and foster the adoption of digital payments across Africa.
To celebrate the launch of the partnership, PalmPay and Jumia are launching a special Christmas campaign, running from December 11th to 30th. During this period, customers who make purchases on Jumia using the PalmPay payment method will stand a chance to win exciting cash rewards. More details can be found on the brands’ respective social media pages. @palmpay_ng and @JumiaNigeria.
E-Business
Aero Contractors Launches “12 Days of Christmas” Campaign
Aero Contractors is thrilled to announce the launch of its “12 Days of Christmas” campaign, a festive and engaging social media initiative designed to spread holiday cheer and reward loyal customers.
Running from December 13 to December 24, 2024, this exciting campaign underscores Aero Contractors’ commitment to connecting families, friends, and communities during the holidays.
The “12 Days of Christmas” campaign invites travel enthusiasts, loyal customers, and holiday travelers to participate in fun and interactive activities on Aero Contractors’ social media platforms, including Instagram, Facebook, and X (formerly Twitter). Each day will feature engaging posts such as trivia, puzzles, and challenges designed to ignite the festive spirit and encourage community participation.
Participants are encouraged to follow Aero Contractors’ social media pages, engage with the daily posts by liking, commenting, or sharing, and follow the specific instructions for each day’s activity.
Winners will be selected daily and announced on the respective platforms. Exciting prizes await participants, with the grand reward of a free return economy class ticket—a perfect gift for reconnecting with loved ones or exploring new destinations this holiday season.
“At Aero Contractors, we believe in the power of togetherness, especially during the holidays,” said Capt. Ado Sanusi, Managing Director of Aero Contractors.
“Our ‘12 Days of Christmas’ campaign is our way of giving back to the community that has supported us throughout the year. It’s an opportunity to engage, celebrate, and reward our customers while spreading joy and festive cheer.”
This campaign targets travel enthusiasts, loyal Aero Contractors customers, and families looking to make the most of the holiday season. Through this initiative, Aero Contractors reaffirms its dedication to safe, reliable, and efficient air travel, bringing people closer when it matters most.
Follow Aero Contractors on Instagram, Facebook, and X to join the “12 Days of Christmas” campaign. Engage daily for a chance to win a free return economy class ticket and other exciting offers.
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