Microsoft has launched a $1 million AI training initiative in Nigeria, targeting one million participants over two years. While the program aims to boost digital skills, questions remain about its feasibility and impact. Read more about Microsoft's vision for AI in Africa.
National Bureau of Statistics (NBS) reported a significant drop in Nigeria’s inflation rate to 24.48% in January 2025, driven by food, transport, and accommodation costs. NBS also announced new indices to inform policymakers.
Nigerian banking stocks are on the rise, with the NGX Banking Index up 12.24% after lenders raised over ₦1 trillion ($662 million) to meet new capital requirements. Investor confidence is growing, but experts caution that sustained growth depends on economic and regulatory stability.
Nigeria’s consumer credit soared to N4.42 trillion in November 2024, marking a 26.29% increase amid rising inflation. The CBN report attributes this surge to inflation expectations, with personal loans witnessing the highest growth.
Aliko Dangote is investing $400 million to expand Ethiopia’s Mugher cement plant, doubling its production capacity. This move reinforces Dangote Cement’s commitment to Africa’s industrial growth, despite past challenges.
Haldane McCall PLC has announced a remarkable financial performance for 2024, with pre-tax profit soaring to N1.01 billion—a 168.44% increase from the previous year. Revenue also grew by 109.50%, reaching N3.6 billion, driven by strong land and building sales. Explore the full breakdown of their financial highlights, including asset growth and operational insights, in this detailed report.
USAID, which has pulled $100 million in non-dilutive grants. This move threatens innovation in healthcare, agriculture, and clean energy, forcing entrepreneurs to explore alternative funding avenues. As Silicon Savannah navigates this shift, the question remains—how will startups adapt to the loss of crucial development funding?
The Tony Elumelu Foundation (TEF) has secured a $6 million partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation to empower 1,000 African entrepreneurs.
San Diego FC welcomes Nigerian GRAMMY-winning artist Tems as a new Club Partner. Through her company, The Leading Vibe, Tems joins a distinguished group of partners to inspire and empower communities on and off the pitch.
Madica has announced $800,000 in pre-seed funding for four African startups, marking its first investments in North Africa. The selected companies, focused on healthtech, e-mobility, and AI, will receive mentorship and funding as part of Madica’s broader $6 million investment strategy.