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Google Announces New Fiber Optic Cable to Connect Africa to Australia

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Google has unveiled ambitious plans to construct a new fiber optic cable named Umoja, aimed at enhancing internet connectivity between Africa and Australia. This groundbreaking project was announced on Thursday through Google’s official blog.

Anchored in Kenya, the Umoja cable will traverse several African nations, including Uganda, Rwanda, the Democratic Republic of the Congo, Zambia, Zimbabwe, and South Africa, before making its way across the Indian Ocean to Australia. According to Google, Umoja will be the first fiber optic route to directly connect Africa with Australia.

The terrestrial path of Umoja is being developed in collaboration with Liquid Technologies, creating a scalable route through Africa with multiple access points, enabling other countries to benefit from this expansive network.

Google emphasized that this project is made possible through partnerships with leaders across Africa and Australia. The goal is to enhance connectivity for African people, businesses, and governments.

U.S. Ambassador to Kenya, Meg Whitman, highlighted the importance of this initiative, stating, “Access to the latest technology, supported by reliable and resilient digital infrastructure, is critical to growing economic opportunity. This is a meaningful moment for Kenya’s digital transformation journey, and the benefits of today’s announcement will cascade across the region.”

Kenyan President Dr. William S. Ruto expressed his enthusiasm for Google’s investment in digital connectivity, recognizing it as a historic milestone for Kenya, Africa, and Australia. He noted that the new intercontinental fiber optic route will significantly bolster the country’s global and regional digital infrastructure.

“This initiative is crucial in ensuring the redundancy and resilience of our region’s connectivity to the rest of the world, especially in light of recent disruptions caused by cuts to sub-sea cables. By strengthening our digital backbone, we are not only improving reliability but also paving the way for increased digital inclusion, innovation, and economic opportunities for our people and businesses,” said President Ruto.

The name “Umoja,” derived from the Swahili word for “unity,” reflects the project’s goal of fostering connectivity and collaboration. Umoja will join Equiano, another Google-led initiative under the Africa Connect project. The Equiano cable, named after Nigerian-born writer and abolitionist Olaudah Equiano, landed in Nigeria in April 2022 and extends from Portugal along Africa’s west coast to South Africa.

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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