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Business News

Actis makes major investment in Nigerian data centre firm

Actis, a leading investor of private capital, has made a major investment into one of Nigeria’s biggest data centre, Rack Centre.

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Actis makes major investment in Rack Centre

A global emerging market investment firm, Actis, has made a major investment into one of Nigeria’s leading data centre, Rack Centre. The former, which has a growing portfolio of investments across Asia, Africa, and Latin America, made the investment decision after a detailed assessment of the players in the African market.

The head of real estate, Actis, David Morley had alluded to the fact that the private equity firm had been tracking the data centre market in Africa and developing relationships with the key operators and customers.

Actis makes major investment in Rack Centre

Rack Centre Managing Director

In a statement, David Morley said, ‘’We have been tracking the data centre market in Africa closely, building relationships with key operators and customers. Africa is at an inflexion point and we expect to see an explosion in growth of demand for hosting capacity in independently owned data centres across the continent.

‘’We are excited about this new partnership with Rack Centre and its parent company, Jagal. Together, they have built a strong business of international repute, hosting a compelling mix of customers ranging from leading Nigerian corporates to global cloud majors.”

(READ MORE: Actis takes over Nigerian-focused Abraaj Funds, after criminal charges and face-off with creditors)

The CEO of Jagal, Maher Jarmakani, is excited with its new partnership with Actis just as Rack Centre has developed into a leading and respected African brand and now at a critical stage for investment and growth.

The Managing Director, Rack Centre disclosed that it had been a great honour to lead the growth of the firm to become one of the most respected carrier-neutral data centre brands in West Africa.

Actis is a global emerging markets investment firm focused on the private equity, energy, infrastructure and real estate asset classes. It has a growing portfolio of over $12 billion investments under its management across Africa, Asia and Latin America. It is the largest private equity investment firm in Africa having committed $4.5 billion in the continent over the last 15 years.

Rack Centre is the state of the art Tier III constructed facility certified data centre, which offers carrier-neutral colocation services. It is the most connected in Africa with connection to over 27 of the major carriers and internet service providers. It has consistently set the quality bar in the industry in Africa since commencing operations in Lagos in 2012.

Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]rametrics.com.

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Spotlight Stories

Tip Jar, Twitter’s new giveaway feature that lets users send money to you

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.

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US Elections: Twitter, Facebook suspend several news accounts

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.

According to the blog post, “Tip Jar is an easy way to support the incredible voices that make up the conversation on Twitter. This is a first step in our work to create new ways for people to receive and show support on Twitter – with money.”

The new feature utilizes different payment platforms like PayPal, Venmo, Patreon, CashApp, and others.

Users can link their Twitter accounts with Tip Jar to any of these payment providers. Twitter takes no cut.

READ: Facebook is creating an audio chat product similar to Clubhouse

You’ll know an account’s Tip Jar is enabled if you see a Tip Jar icon next to the Follow button on their profile page. Tap the icon, and you’ll see a list of payment services or platforms that the account has enabled. Select whichever payment service or platform you prefer and you’ll be taken off Twitter to the selected app where you can show your support in the amount you choose.

Twitter has released series of features this year as part of its efforts to grow Twitter’s user base to 315 million daily active users by the end of 2023.

The company also launched Twitter crop where images don’t get crop again on Twitter for Android or iOS. Standard aspect ratio images (16:9 and 4:3) will now display in full without any cropping and images will look just like they did when you shot them.

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READ: Does YouTube stand a chance against TikTok?

Lauren Alexander, a Twitter spokesperson said, “Today’s launch is a direct result of the feedback people shared with us last year that the way our algorithm cropped images wasn’t equitable, The new way of presenting images decreases the platform’s reliance on automatic, machine learning-based image cropping.”

Twitter has tested several features and more will be rolled out soon.

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Business

Customs Apapa Command generates revenue of N65.4 billion in April

This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.

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Border closure: Amid N5bn daily revenue, Customs officials lament allowance slash  

The Nigerian Customs Service (NCS) Apapa Area Command has announced a revenue of N65,463,398,355.85 for the month of April—an increase of N25,585,561,139.92 compared to the same period last year.

This was disclosed by Comptroller Ibrahim Yusuf, Area Controller of Apapa command, in a press briefing on Thursday.

What Ibrahim Yusuf is saying

“This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.

In line with the provision of extant laws, trade guidelines, and enforcement of government fiscal policy measures, the command was able to further strengthen its anti-smuggling operations against economic saboteurs through credible intelligence-driven operations.

READ: Customs revenue rises by N200 billion to hit N1.5 trillion in 2020

This led to the seizure of 4×40 feet containers laden with unregistered pharmaceuticals (674 cartons of tramadol tablets in 225mg and 120mg, and 805 cartons of codeine syrup in 100ml) at APMT and SIFAX 3 bonded terminal respectively.

Other items seized in the period under review include: two containers of unprocessed wood and one container of scrap copper wire,” he said.

He added that the progress the Apapa Command made in the month of April was possible due to the resilience of the officers, citing that the Command had taken steps to ensure efficient revenue collection by creating an enabling environment for legitimate businesses to thrive.

What you should know

Recall Nairametrics reported that the Nigeria Customs Service (NCS) Apapa Command stated earlier that it generated a revenue of N159.58 billion in the first quarter of 2021.

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