World Bank President Ajay Banga has urged stronger, impact-focused partnerships to tackle Africa’s development challenges. Speaking at the AfDB’s 2025 Annual Meetings, he highlighted the importance of strategic collaboration, citing the Mission 300 electricity access initiative as a model.
Nigeria has launched a $7.5 million AI Scaling Hub in partnership with the Gates Foundation. The initiative aims to drive innovation in healthcare, agriculture, and education while positioning the country as a leader in Africa’s AI future.
Moniepoint has received regulatory approval to acquire a 78% stake in Kenya’s Sumac Microfinance Bank, marking a strategic expansion into East Africa’s financial sector. The deal awaits final clearance from the Central Bank of Kenya.
BUA Group has committed over $65 million to reconstruct Terminal B of the Rivers Port Complex without any public funds. The project, approved in 2022 and awarded to Italian firm TREVI, is expected to be completed in the first quarter of 2026. The company says the terminal is vital to its industrial operations.
The Debt Management Office has launched the June 2025 FGN Savings Bonds with interest rates up to 17.121% per annum. The offer runs from June 2 to June 6, providing a secure investment backed by the Federal Government.
Against global economic headwinds, Nigerian startups defied the odds, securing over $100 million in Q1 2025. Fintech led the charge, but clean energy and agritech also saw major wins. Here's a breakdown of the top 10 deals and what they signal for the startup ecosystem.
Arnergy, a Nigerian company known for its distributed renewable energy solutions, has raised $18 million to scale its solar energy systems across Africa.
Kano State has entered a strategic partnership with Moroccan firms to attract over $10 billion in investments across renewable energy, solid minerals, and agriculture. The deal includes plans for solar energy generation, fertilizer plants, and support for smallholder farmers, following a high-level investment mission led by Governor Abba Kabir Yusuf.
Techstars is stepping up its game, increasing funding to $220K for participating startups. With a new SAFE structure and global support network, the accelerator is closing in on Y Combinator’s model — and leaving a lasting impact in Africa.
Visa has backed Tunisian startup Konnect and Morocco’s PayTic after both completed its Africa Fintech Accelerator. The move strengthens Visa’s push to support digital innovation and expand financial inclusion across the continent.