Kenya’s Peach Cars is transforming Africa’s used car market with a $11 million funding boost. Backed by Suzuki and JBIC, the startup is building a transparent, tech-driven marketplace that promises to restore trust and reshape vehicle ownership across the region.
Nigeria has injected N1.5 trillion into the Bank of Agriculture and invested over N200 billion in nationwide agricultural interventions to boost food security and empower farmers. The country is also deepening regional partnerships, with The Gambia seeking to adopt Nigeria’s rice production model as part of its 2030 food self-sufficiency drive.
Venture capital is changing, and seed investors like Charles Hudson are rethinking how long to hold their winners. As limited partners push for faster liquidity, smaller funds face new pressures to sell earlier, reshaping traditional strategies.
UK-based legal tech company Definely has secured $30 million in Series B funding to expand its AI-driven legal productivity suite and strengthen its presence in the U.S. market. Co-founded to solve accessibility challenges in legal work, Definely now serves over 100 law firms and corporate legal teams worldwide.
Salpha Energy has secured $1.3 million from All On to scale its locally built solar solutions in Nigeria. The female-led company is driving clean energy, job creation, and local manufacturing to close Africa’s energy access gap.
The African Development Bank has approved $184.1 million to support Egypt’s 1GW Obelisk Solar Project, reinforcing the country’s clean energy transition. The project, which includes battery storage, is expected to generate 2,772 GWh of clean electricity annually and create over 4,000 jobs.
Collab Capital has secured $75 million for its second fund, expanding its mission to back early-stage startups transforming work, healthcare, and community systems. The firm’s strategy combines capital with deep, hands-on support to create meaningful impact and long-term growth.
WeThinkCode, supported by a $2 million grant from Google.org, is launching an inclusive AI training programme for 12,000 young people in South Africa and Kenya. The initiative targets underserved communities, offering free courses and real-world exposure to help close Africa’s growing AI skills gap.
In 2024, Nigerian banks saw significant profits from their foreign subsidiaries, generating N1.695 trillion — over a third of their total group earnings. Supported by macroeconomic shifts, these offshore operations are increasingly crucial for revenue diversification and growth.
Ogun State has launched AgriConnect, a digital agriculture initiative providing over 1,000 farmers with smart devices, free internet, and AI-powered tools to boost productivity and market access. Supported by Huawei, MTN Foundation, and OGFIMS, the programme aims to drive food security, modernize agriculture, and promote rural inclusion across Nigeria.