Africa has taken a bold step towards financial independence with the launch of PAPSSCARD—its first continental payment card. Designed to reduce reliance on foreign systems, the card enables fast, secure, and affordable cross-border transactions and supports intra-African trade growth.
Solar energy company d.light has secured $842 million in financing to scale access to affordable solar home systems in Africa. Through its PayGo model, the company aims to reach 10 million people in Kenya, Uganda, Tanzania, and Nigeria—providing energy and empowering underserved communities.
Afreximbank is set to revolutionize Nigeria’s textile industry with a $5 billion facility expected to create 250,000 jobs. The project, launching in July, is part of the bank’s wider industrialisation strategy across Africa.
The Federal Government has launched a ₦100,000 inventory loan scheme through CREDICORP, targeting 10,000 market women in 224 markets across Nigeria. This initiative aims to empower women traders and strengthen Nigeria’s informal economy through affordable credit.
President Tinubu has signed four tax reform bills into law, introducing sweeping changes aimed at simplifying Nigeria’s tax system, cutting red tape, and providing relief for low-income earners and small businesses.
Foreign direct investment into Nigeria dropped by 19% in Q1 2025, falling to $250 million, according to the Central Bank of Nigeria. Despite a positive trade balance, capital flight and declining investor confidence weighed heavily on the country’s external position.
Visa and Absa are calling on women entrepreneurs in South Africa to apply for the She’s Next programme, a flagship initiative providing funding, mentorship, and business training to help women-led ventures grow and thrive.
MTN Nigeria has invested ₦3 billion in the Federal Government’s 3MTT Programme, empowering over 90,000 Nigerians with technical skills and digital tools to compete globally.
Cutstruct has raised $1.5 million in seed funding to scale its digital procurement platform, improve logistics, and drive efficiency in Nigeria’s construction sector.
PaidHR, a Nigerian startup revolutionizing HR management, has raised $1.8 million in seed funding led by Accion Venture Lab. The company plans to expand its market reach, develop new products, and strengthen customer support.