Federal Executive Council has approved ₦151.9 billion for electric buses, tricycles, and charging infrastructure in North-East Nigeria. This project, funded by the NEDC, aims to promote clean energy transportation, reduce emissions, and enhance mobility in the region.
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.
Nigeria has replaced Remita with a new Treasury Management and Revenue Assurance System to enhance transparency and efficiency in financial transactions. The transition is happening in two phases, with existing users automatically migrated.
Khula, a leading South African AgriTech startup, has secured R126 million in funding from major investors, including Absa and AECI. The investment will support the expansion of its digital agricultural solutions, helping farmers access vital resources and markets. With this backing, Khula is set to redefine the future of agriculture in Africa.
Three Francophone African startups have been crowned winners of the latest Orange Summer Challenge, a program that helps young entrepreneurs transform their ideas into impactful businesses. The 2025 edition featured 282 participants from 14 countries, with the top three startups focusing on sustainability, healthcare, and environmental innovation.