Africa Business Communities

[Nigeria Business Week] Andrea Ayemoba: Investors bet on fintechs, startups

The past couple of weeks have seen a flurry of activities in several sectors of the Nigerian economy. Startups are receiving increasing financial backing from VCs for the growith of SMEs.

In the fintech sector, a major selling platform has debunked rumors of hacking and security breach that supposedly led to loss of millions in consumers’ funds. An agritech company got a quarter of a million dollars investment capital and Senegal reached a formal understanding with Nigeria for better oil and gas collaboration.

Further collaboration was recorded to improve cyber security for SMEs as Mastercard partnered with a local fintech to that end. In banking, the apex Bank, CBN has renewed the license of a local payment solutions service provider. 

Cellulant named a new general manger for Nigeria and Gavi has appointed a Nigerian as its new CEO. 

Renewable Energy has seen a moment of firsts, with the launch by a Nigerian solar company of Africa’s first ever net zero villages in Nigeria

Also standing out in recent weeks are other SME startups and founders in various industries like Automotive, Fintech and not-for-profit organizations building the entrepreneurship ecosystem of Africa.

Andrea Ayemoba is a Senior Editor at Africa Business Communities.


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