Borno State Governor Babagana Zulum has approved N1 billion in grants for 9,403 small businesses in Biu and Hawul as part of efforts to boost local enterprises and reduce poverty. He also launched a 600-unit housing project for teachers and health workers, reaffirming his administration’s dedication to economic and social development.
AfDB and ECOWAS have signed a $12 million grant agreement to implement the REWARD project, enhancing rice production and food security across West Africa. This initiative seeks to reduce import dependency, support local farmers, and strengthen agricultural value chains, aligning with regional development goals.
The NSIA Prize for Innovation (NPI) is designed to identify, support, and finance early-stage innovative solutions with the potential to:
Transcorp Plc has posted a record-breaking N136.6 billion pre-tax profit for 2024, reflecting a 132.41% increase from the previous year. The company’s total revenue surged by 107.07% to N407.9 billion, with the power sector contributing the largest share.
Microsoft is strengthening South Africa’s digital economy with a ZAR 5.4 billion investment in cloud and AI infrastructure. This expansion will drive innovation, close the digital skills gap, and position the country as a leader in AI technology.
Dangote Industries Limited has maintained its status as Nigeria’s highest taxpayer, remitting over N402 billion in 2024. Recognized by FIRS for tax compliance, the company remains committed to corporate responsibility and economic development.
Badili, a leading Kenyan re-commerce startup, has secured $400,000 in debt funding from Proparco. This investment will drive the expansion of its refurbished smartphone business, making mobile technology more accessible and sustainable across East Africa.
Sahel Capital has secured a $400,000 working capital loan for MM LEKKER to strengthen agricultural trade in Benin. This investment will help smallholder farmers access fairer prices, reduce post-harvest losses, and build more resilient livelihoods.
LoftyInc Capital secures $43 million for its third fund, LoftyInc Alpha, to propel African startups from late-seed to Series A. Backed by sovereign wealth funds, development finance institutions, and high-net-worth investors, the fund aims to bridge the funding gap in Africa’s growing startup ecosystem.
IFC has invested $6 million in Ventures Platform Pan-African Fund II to support early-stage African tech startups. With a focus on fintech, health tech, and digital infrastructure, the fund aims to enhance seed-stage financing and expand Africa’s digital ecosystem.