President Tinubu has secured $70 million from the IFC to fund mini-grid projects, marking a major step in Nigeria’s renewable energy expansion. Meanwhile, NNPCL is set to construct five mini-LNG plants in Ajaokuta to enhance power generation and clean cooking access.
Applications are now open for the Tony Elumelu Entrepreneurship Programme (TEEP), offering African startups training, mentorship, and $5,000 seed funding. Join a network of 10,000 entrepreneurs driving innovation and economic growth across the continent. Apply today!
Stanbic IBTC Holdings Plc is set to recapitalize its fintech subsidiary, Zest Payments, with ₦4 billion to enhance its competitiveness in Nigeria’s fintech space. Despite lagging behind peers like Hydrogen and HabariPay, Zest aims to leverage this investment to boost its e-commerce and payment solutions, paving the way for future profitability.
This strategic acquisition aims to enhance services, expand infrastructure, and tap into Nigeria’s booming digital market. Customers can expect a seamless transition as both companies work together to drive innovation and growth in Africa’s tech sector.
SC Ventures and Yabx have partnered to invest $10 million in Furaha, an innovative platform aimed at transforming education financing in sub-Saharan Africa. With a focus on increasing financial accessibility, Furaha is set to empower families and foster brighter futures for millions of children across the continent
Zenith Bank has announced a 20% salary increase for its nearly 10,000 employees, effective January 2025.
Accrue, a Nigerian fintech startup, has raised $1.58 million in seed funding led by Lattice Fund. Originally launched as a crypto investment platform, Accrue pivoted to address cross-border payment challenges in Africa.