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Speedaf Completes Round A+ Financing For Nigeria, Africa Operations

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Speedaf express, a leading China-Africa integrated logistics service provider, officially announced the completion of its Round A+ financing. This round of financing was led by TRUSTBRIDGE, followed by northern light VENTURE CAPITAL, and VISION+CAPITAL on the basis of Round A.

The tens of millions of dollars raised in this round will be mainly used for logistics network expansion in emerging markets, IT system construction and talent team structuring, to build the No.1 brand for China-Africa logistics.

Speedaf express was founded in 2019, with ZTO Express as one of the original shareholders. Speedaf express focuses on cross-border door-to-door logistics services between China and emerging markets such as Africa, the Middle East and South Asia, etc, and provides domestic express services, LTL, warehouse and other value-added services covering the whole region.

Relying on a self-built service network and information systems, Speedaf express creates one-stop, full tracking, and door-to-door integrated logistics service solutions. The cross-border air and sea shipping services provided by Speedaf express cover more than 50 countries.

With its localized operations, Speedaf express has launched local express and LTL networks in Ghana, Uganda, Kenya, Nigeria and Morocco. Meanwhile, it has also established distribution centers, stations and warehouses to ensure effective nationwide coverage in those countries.

In the future, Speedaf express will further expand its express and LTL network in Africa and other emerging markets, and will continue to improve the construction and operation of distribution centers, stations, vehicles and line-haul transportation, develop diversified value-added services, and strengthen information management systems.

“We sincerely thank our new and original shareholders for their trust and support of Speedaf express. This is an important milestone in the development of Speedaf express,” said Gary Suo, CEO of Speedaf express. “We are very optimistic about the development prospects of China-Africa cross-border logistics and local logistics business in Africa, and are committed to bringing advanced management concepts and operation models from China’s express industry to Africa. Combined with understanding of local markets and talents, Speedaf express has set out a business model tailored for African nations that will quickly build up a local operation network with guaranteed service quality.

“In the era of e-commerce, a logistics network capable of covering thousands of households is a necessity. Speedaf express has built up an end-to-end ecology through ‘self-operated + franchised stations’ to better and more flexibly serve a majority of e-commerce platforms and sellers. Improved service quality and network depth will help more enterprises develop in emerging markets.”

Regarding the investment in Speedaf express, Wang Zhaoqian, vice president of northern light VENTURE CAPITAL, said that “Our investment philosophy in the logistics industry is to find new logistics opportunities being generated by new business, and invest in a market with inadequate logistics. Therefore, after initial communication with the Speedaf express team, we swiftly made the decision to invest. We believe Speedaf express will become a logistics giant between China and Africa by building up local service networks in Africa, and further improving air transportation networks.”

Liu Yiran, Partner of VISION+CAPITAL, said, “VISION+CAPITAL led Round A financing for Speedaf express in late 2020 and continues to invest in this round. Speedaf express has achieved rapid growth of both cross-border and local logistics business in just over a year. The rapid financing in a short period of time is the capital market’s recognition and affirmation of the team and the huge potential of the cross-border logistics market. We expect China’s supply chain to play a greater role in post-pandemic cross-border trade, while local logistics infrastructure in Africa will provide greater value along with the internetization and booming e-commerce market in Africa.”

The African logistics market has shown rapid growth in recent years thanks to accelerated urbanization, the development of new distribution channels such as e-commerce, and the growth of a FMCG retail sector. Data shows that the sub-Saharan Africa e-commerce market is expected to grow at a compound annual growth rate of approximately 22%. With the increased investment of global capital and e-commerce players, the African e-commerce market is expected to enter a period of rapid growth, resulting in greater logistics demand.

In particular, the official launch of the African Continental Free Trade Area on New Year’s Day 2021 will improve the overall convenience and pace of goods’circulation in Africa, encourage more African countries to integrate into the regional and global value chains, and add new impetus and vitality to Africa’s socio-economic development.

As China-Africa economic and trade cooperation deepens, globalization and technological development will create more opportunities for the development of Africa’s logistics industry. Through continuous investment in technology and symbiotic development with partners, Speedaf express will further consolidate its leading position of China-Africa express delivery while building a last-mile logistics network covering “China-Africa”.

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Broadband Commission Seeks Action to Accelerate Connectivity and Progress on SDGs

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The Broadband Commission for Sustainable Development called for a joint global effort to achieve universal and meaningful connectivity by 2030 at its annual Fall Meeting held today at UN Headquarters in New York.  

According to the Commission, the collaborative effort must ensure that people around the world are not only connected, but that they also have the skills and knowledge to use that connectivity.  

The Broadband Commission—a high level public-private partnership fostering digital cooperation and developing actionable recommendations for achieving universal connectivity—stressed that accelerating universal and meaningful connectivity through partnership and cooperation is essential to achieve the UN Sustainable Development Goals (SDGs) by 2030.   

“We need to build a digital future that is inclusive, affordable, sustainable, safe and people-centered,” said Commission Co-Chair Carlos Slim. “There should be no digital deserts in the world, and there should be no one excluded from connectivity. People have the right to enjoy a safe, productive and affordable online experience. Broadband should enhance the quality of life of everyone.”  

At the meeting, the Commission called for innovative investment models to bring together private and public stakeholders to deliver meaningful access and content to those most in need.

“As technology advances and 2.6 billion people remain unconnected, it’s crucial to prioritize universal and affordable broadband access, coupled with investments in digital skills, and the elements that truly define meaningful connectivity, such as inclusive and localized digital content, accessible hardware, cybersecurity measures, and policies that ensure digital inclusion for all,” said Hon. Paula Ingabire, Rwanda’s Minister of Information Communication Technology and Innovation representing Rwandan President Paul Kagame, Co-Chair of the Commission.  

The Commission’s meeting comes amid the recent ITU announcement that 2.6 billion people across the world still lack access to the Internet in 2023. The reduction from the estimated 2.7 billion people offline in 2022 leaves about one-third of the global population unconnected.  

This year’s Annual Meeting also took place ahead of SDG Digital, an event convened by the International Telecommunication Union (ITU) and United Nations Development Programme (UNDP) to highlight how digital solutions can support the UN’s 2030 Agenda for Sustainable Development.  

“Tech is racing ahead and billions of people are being left behind,” said ITU Secretary-General Doreen Bogdan-Martin, a Co-Vice Chair of the Commission. “Our task is to invest in affordable broadband, digital skills, and everything that makes connectivity meaningful.”  ​

​At the meeting, the Broadband Commission launched “State of Broadband Report: 2023 Digital Connectivity – A Transformative O​pportunity.” The latest edition of the annual report reviews the progress of seven Global Advocacy Targets and highlights the opportunities that would come from broadband that is universally available, equitable and affordable.  

This year’s report notes that market trends for consumption and supply are shifting despite gains in connectivity. Those trends may not be strong enough to guarantee that the objective of universal and meaningful connectivity will be met by 2030.  

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Airtel Nigeria Refutes Report Saying It Awarded Nationwide Solar Contract to WATT Corporation

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Leading telecommunication service provider, Airtel Nigeria, has distanced itself from a recent media report that the company awarded a contract to WATT Renewable Corporation (WATT) to deliver over 32MW installed capacity of solar PV and storage across 600 cell sites across Nigeria.

Director of Corporate Communications and CSR, Airtel Nigeria, Femi Adeniran, said in a statement that the involvement of Airtel Nigeria with WATT was limited to only 30 sites as a proof of concept of WATT’s Energy-as-a-Service offering. Of the 30 sites commissioned, 18 are currently up and running.

“The report in the press about Airtel Nigeria awarding this nationwide contract to WATT Renewable Corporation is inaccurate,” Adeniran said.

He added that, “Airtel Nigeria is indeed committed to its sustainability goals and continues to pursue its Net Zero objectives across its operations. As we progress in our path towards achieving these, we will keep the public updated.”

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NCC Orders MNO, ISPs on Network Security, Consumer Safety Compliance

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The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) and Internet Service Providers (ISP) in the country to comply with regulatory frameworks emplaced by the Commission towards ensuring security and safety of their networks for telecom consumers.

The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Commission, Prof. Umar Danbatta, gave the charge at the 2023 annual Nigeria DigitalSense Forum, focused on Internet Governance for Development, which took place in Lagos recently.

Addressing stakeholders at the event, Danbatta said one of the regulatory framework put in place by the Commission is the Internet Code of Practice (ICP for telecom industry, which is essentially to protect the right of Internet users to an open Internet and provide clear guidelines to Internet Access Service Providers on the use of traffic management practices.

He said the Internet Code also outlines the obligations of Internet Access Service Providers in relation to the protection of consumers’ personal data as well as lists the obligations of Internet Access Service Providers in the handling of offensive and potentially-harmful content, and the protection of minors and vulnerable audiences online; among others.

Through upholding the tenets of Internet Governance Code, Danbatta said the Commission, in collaboration with other stakeholders can make networks safe and get telecom consumers protected online.

Speaking to the theme of the event: “5G: Data Governance, Safety and Security in Nigeria”, Danbatta said building robust legal and regulatory frameworks is a crucial requirement for effective data governance in Nigeria and that the ICP provides the framework in this regard.

The EVC, however, underscored the need for telecom licensees, especially the MNOs and ISPs, to adhere strictly to industry frameworks that seek to enthrone effective governance in Internet delivery services.

Represented by the NCC’s Head, New Media and Information Security, Dr. Chidi Diugwu, the EVC said with the emergence of new technologies such as the Fifth Generation (5G), currently being deployed in Nigeria, the need has come to pay greater attention to the issue privacy, data integrity and online trust across telecom networks.

“As we embrace the transformative potential of newer technologies such as 5G, we must prioritize safety concerns because the amount and speed of data generated using 5G technology is unprecedented. As such, we need to always prioritise consumer privacy, transparency, and ethical data use; and this can be achieved by cultivating trust and handling data responsibly, and by doing so, we can unlock the full potential of 5G technology and promote innovation in Nigeria,” he said.

While emphasizing that the Nigerian Communications Act (NCA) 2003 requests NCC’s licensees to prevent their network facilities or services from being used in for the commission of any offence under any law in operation in Nigeria, Danbatta said “In this regard, licensees are required to collaborate with the Commission by complying with their legal and regulatory obligations towards ensuring effective Internet governance in Nigeria.”

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