Grey, a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans has rebranded completely with a new logo and website.
Airtel Africa has launched Nxtra, its data centre business that it says has been founded on a commitment to meet the continent’s growing needs for trusted, and sustainable data centre capacity and to serve the fast-growing African digital economy.
Equinor sells its Nigerian business, including its share in the Agbami oil field, to Nigerian-owned Chappal Energies.
Africa’s commodities player, AFEX, has launched Africa Exchange, a digital platform for trading commodities. The platform follows AFEX’s first foray into digital commodities trading with the launch of ComX in 2020.
The hotel’s array of Scandinavian inspired accommodation will range from contemporary standard rooms to expansive executive suites, including a presidential suite.
The agreement was signed in the presence of Anand Sen, Managing Director of Tata International Limited, by Managing Director of Tata Africa Holdings Pty Ltd, Len Brand. This marks a significant milestone in the company's commitment to the region.
ZCG and the Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, announced a joint venture partnership to establish a fund focused on infrastructure investments in Africa.
The ECOWAS Bank for Investment and Development (EBID) has signed an agreement with WEMA Bank Plc, Nigeria providing a USD50 Million line of credit to support Small and Medium Enterprises (SMEs) in the agro-business sector in the Federal Republic of Nigeria.
This strategic collaboration offers the opportunity to leverage the unique economic and financial opportunities that are currently burgeoning within the African continent.
Chapel Hill Denham’s Nigeria Infrastructure Debt Fund has agreed to provide long-term financing to Tizeti Network Limited, West Africa’s pioneer solar-based internet service provider.
Shekel Mobility, a B2B marketplace for auto dealers in Africa, raises $7M led by Ventures Platform and MaC VC to reinforce his activities.
American Tower Corporation's Africa operations (ATC Africa,) and MTN Nigeria, have announced that they have entered into a new agreement that is expected to enhance wireless connectivity across Nigeria.
L’ AGF et Technoserve établissent un partenariat pour stimuler les investissements dans l’industrie du cajou
L’African Guarantee Fund(AGF) et Technoserve établissent un partenariat pour stimuler les investissements dans l’industrie Ouest-Africaine du cajou.
Winning participants will not only receive the cash prizes but will also gain invaluable pitch training, be part of a follow-on program, and access to Seedstars' global network.
Funds & Electronic Transfer Solutions Limited (Fets) and UnionPay International have jointly announced a partnership to issue virtual cards through the Fets App to grow the UPI card issuance in Nigeria.
Vertiv has announced its enhanced partner programme for Africa, with a strong focus on rewarding its local network of expert distributors and resellers across South Africa, Egypt, Kenya, Nigeria and Morocco.
British International Investment (BII), the UK’s development finance institution (DFI) and impact investor announced a US$26.5 million commitment to AFEX, Africa’s leading commodities platform, which currently operates over 200 warehouses in Nigeria, Kenya, and Uganda and serves over 450,000 farmers.
[Nigeria] Commodities platform AFEX raises $26.5M to address food security in Nigeria, Kenya, and Uganda
British International Investment (BII), the UK’s development finance institution (DFI) and impact investor have announced a US$26.5 million commitment to AFEX, Africa’s leading commodities platform,
The African Development Bank Group, and the African Guarantee Fund, have made a strong case for the positive impact of increasing women’s financial inclusion on Nigeria’s economy, before an audience of senior Nigerian government and banking leaders in Lagos.
[Free Webinar] The Verto Hour: Streamlining Payments for Manufacturers and Suppliers in Eastern and Western Africa
Join this webinar that empowers both manufacturers and suppliers operating in African markets with valuable insights and actionable strategies to streamline their payment processes and ensure uninterrupted supply chain continuity.
Most FinTech products and services in Nigeria were found in the payment-related sector.
Afreximbank, Alphaden Energy and Oilfield Limited sign $60M loan agreement for gas processing facility in Nigeria
The African Export-Import Bank (Afreximbank), has signed a 7-year term loan agreement with Nigeria’s Alphaden Energy & Oilfield Limited for the construction of a 20 million standard cubic feet per day gas processing facility in Bayelsa State, Nigeria.
AFC, Solid Minerals Development Fund of Nigeria, and Xcalibur partner to boost Nigeria's geological data capabilities
The collaboration will pursue initiatives that enhance the availability of Nigeria's geological data to interested investors across the globe and design an exploration program for mapping the country's subterranean mineral wealth.
Afreximbank, Torxen Energy Resources sign $75 million development agreement for Petroleum Production License 241 offshore Nigeria
The deal will allow Torxen Energy to use capital investment for various activities including drilling and the completion of two oil wells. It will also facilitate the construction of a new oil platform within the License as well as the development of a new oil pipeline.
MediaTek, the global fabless semiconductor giant responsible for powering nearly two billion connected devices annually, has unveiled a strategic partnership with Airtel Nigeria, a telecommunications leader, aimed at enhancing mobile connectivity across Nigeria.
Africa Finance Corporation (AFC) and the Solid Minerals Development Fund of Nigeria (SMDF) announced a transformative partnership aimed at derisking Nigeria's mining sector and scaling up artisanal miners in the country to an industrial level of operation.
BancTrust & Co. Investment Bank (BancTrust), the London-based Emerging Markets investment bank, has announced the official launch of a new affiliate office in Lagos, Nigeria.
Nigeria’s Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani has shared the Federal Ministry’s ambitious goal to train 3 million tech talents over the next four years as stated in the ministry’s recently released policy document.
AfriSummit 2023: African Health Authorities, Industry Leaders Convene to Explore Pharma Regulations and Innovations
Leading healthcare authorities and industry experts converged at the AfriSummit 2023, a pivotal 4-day hybrid event dedicated to exploring the latest developments in pharmaceutical and medical device regulations’ advancements in the healthcare supply chain across the African continent.
Treepz, the African car-sharing and rental marketplace is introducing an insurance program for car rentals in the continent. The program, known as Treepz Care, has been launched in partnership with insurtech startup Octamile.
British International Investment partners with Access Bank Plc to extend $60 million trade finance facility
British International Investment partners with Access Bank Plc extended $60 million to ensure availability of key commodities across import-dependent economies and critical inputs for manufacturing goods, medicine, commodities, construction, food and agriculture across five African countries.
Join this insightful webinar that delves into the world of global payment strategies tailored to empower seamless trade within the shipping and logistics industry.
Tech firm SecondSTAX has announced a new partnership with the Nigerian Exchange Limited (NGX) to enable institutional investors from across Africa to directly invest into Nigeria’s capital markets.
[Nigeria] Agritech startup ThriveAgric to provide 125,000 smallholder farmers with access to financial inclusion services
Over the next twelve months, ThriveAgric and its technical partners will facilitate the opening of bank accounts for the farmers across 8 northern states including Adamawa, Gombe, Yobe, Jigawa, Kaduna, Kano, Katsina, and Bauchi.
WATT Renewable Corporation (WATT), an independently owned provider of hybrid solar solutions, has been chosen by leading telecommunications services company, Airtel, to deliver over 32MW installed capacity of solar PV and storage across Nigeria.
Avec 1 milliard de dollars d'investissements au Nigéria, Proparco fête ses 15 ans de présence dans le pays
Proparco, institution financière de développement française, est fière de marquer ses 15 ans d'activité au Nigéria, et d’annoncer 1 milliard de dollars investis sur la période.
In the rapidly evolving landscape of shipping and logistics, effective cross-border payment strategies have emerged as a critical driver of success. Join this insightful webinar that delves into the world of global payment strategies.
Interswitch's sponsorship of the conference reflects its unwavering commitment to promoting financial inclusion and sustainable economic development.
The SLA was conceptualised by the NCDMB and is intended to optimize the contracting cycle in the oil and gas industry and spur the speedy development of new oil and gas projects, contributing to increased oil production and improved national economy.
Nigerian fintech startup Chipper Cash has launched Chipper ID, an AI-powered suite of verification services, tailored to solving industry-wide customer onboarding and compliance issues in the African market.
GTBank's decision was driven by Finacle's proven track record and the solution suite's comprehensive capabilities across retail, wealth, and corporate banking.
Data and AI technology company Flapmax has announced the twelve startups selected for the second cohort of the FAST Accelerator startup program. The program is created in partnership with Microsoft to help strengthen and scale Africa's digital ecosystem.
Verve has joined forces with Moniepoint Microfinance Bank to increase access to financial services for Nigerians through the launch of the Moniepoint Verve Debit Card.
Interswitch, Africa’s leading integrated payments and digital commerce company, will support Google Pay on its Interswitch Payment Gateway (IPG) platform.
The Clouds2Africa solution provides businesses of all sizes with access to a high-performance cloud environment at reduced costs.
Kia Nigeria, the leading automobile brand in Nigeria has partnered with Fixit45 to offer customers genuine spare parts and exceptional after-sales service.
This partnership aims to empower businesses by offering digital payment solutions, financial training, and access to credit, ultimately leading to increased sustainability and success in the market.
Investing in Innovation Africa (i3), a pan-African initiative for startups building the future of healthcare supply chains has announced its second cohort of 29 companies
The telecoms sector’s contribution to the nation’s Gross Domestic Product (GDP) has increased significantly to 16 per cent in the second quarter of 2023, according to the data reported by the Nigerian Communications Commission (NCC) based on the computation by the Nigeria Bureau of Statistics (NBS).
The partners will pilot a new programme that supports ‘learning to earning’ pathways in the digital and green economy for marginalised young people providing them with the skills they need to flourish.
[Nigeria] Mobility startup Mecho Autotech raises $2.4M, ventures into wholesale spare parts distribution
Mecho Autotech (“Mecho”), a Nigerian mobility startup providing quality automotive spare parts and vehicle repairs and maintenance services, announced today that it closed a $2.4 million pre-Series A investment round
The new local facility will provide Nigerian customers and partners with first-hand experience of a range of Vertiv™ thermal management, uninterruptible power supply (UPS) systems, and integrated cabinet solutions under real field conditions and in real time, supported by expert engineering specialists.
MTN Nigeria Communications Plc (MTN Nigeria) has announced that the Nigerian Communications Commission (NCC) has approved the transfer and assignment of the 10MHz frequency division duplex (FDD) in the 2.6GHz spectrum band from OpenSkys Services Limited to MTN Nigeria.
This strategic partnership aims to streamline and enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers.
The African Energy Chamber (AEC) endorses the ground-breaking agreement between Oando PLC and Eni for the acquisition of 100% of the shares of Nigerian Agip Oil Company Limited (NAOC Ltd).
his license ushers in a new era of connectivity that is essential to meeting the surging demand for data within the country's borders.
UK government commits £15 million funding to strengthen health workforce in Kenya, Nigeria and Ghana
The UK will provide a multi-million pound boost to support healthcare staff recruitment and retention in 3 African countries - Kenya, Nigeria and Ghana - supporting resilience against global health challenges.
Rand Merchant Bank delivers multi-currency solution for growth with funding package for GZ Industries
Rand Merchant Bank (RMB) has acted as the sole arranger and lender to the GZ Industries Limited group (GZI) on a $47 million and NGN5 billion funding package, offering a tailored solution that positions the company favourably for growth and expansion in the future.
Plural expands services to Africa to fast-track economic growth through access to public policy data
Plural, an artificial intelligence (AI)-powered policy tracking platform, has announced its expansion into Africa to enable access to public policy data across various African jurisdictions starting with Nigeria and South Africa.
The Nigerian Content Development and Monitoring Board(NCDMB) and the Bank of Industry (BoI) have signed an amendment to the Memorandum of Understanding (MoU) on the $50million NOGaPS Manufacturing Fund.
Over the past few years, XCMG Machinery has participated in this mega refinery project with more than 2,000 units of equipment, including excavators, cranes, road rollers, and more, stationed in the construction and guaranteeing high-intensity, uninterrupted operation.
Seedstars and Lab of Tomorrow (LoT) have announced the conclusion of LoT 17, an innovative program aimed at transforming Nigeria's transport and e-commerce sectors.
Treepz, the African car-sharing and rental marketplace is among the 12 startups selected to to participate in this year’s VC4A Venture Showcase Africa.
The launch of the new portfolio companies is a major milestone of the Board’s R&D strategy anchored on commercialization of research and innovation.
GIM-UEMOA signed an agreement with PaySky, the leading digital payments ecosystem enabler for the development of GIMpay.
For nearly a decade, Functional Fluidics has been offering a suite of clinically validated assays to pharmaceutical companies and clinical providers across the United States to help support sickle cell disease new drug development and overall patient care.
Termii aims to revolutionize customer engagement across Africa and with its recent fundraise, the company looks to further its expansion efforts, particularly in Francophone Africa with a focus on Ivory Coast.
Agri-tech firm Farm Central Intelligence has emerged as the winner of this year’s AFEX Code Cash Crop 4.0 Ag-hackathon.
eTranzact and LASPEMA partner to curb unregulated development within incidental open spaces in Lagos State.
Moove, the Nigerian mobility fintech has secured $76 million in new funding, consisting of $28m in equity from new and existing investors. The funding comes just two months after the startup raised another $8 million in financing from Absa Corporate and Investment Banking (CIB),
The first original equipment manufacturers (OEMs), service companies and other oil and gas firms that would set up operations in the Nigerian oil and gas parks would enjoy certain first mover privileges, the Nigerian Content Development and Monitoring Board (NCDMB) has assured.
Bühler is providing the technology to achieve this with its Grain Processing and Innovation Center (GPIC), which will open early in 2024 in Kano, northern Nigeria. The GPIC will support local producers in the development of safe and affordable food.
The Financial Sector Deepening (FSD) Africa Capital Markets has associated with the Pension Fund Operators’ Association of Nigeria (PenOp) to revitalize economic sustainability through mobilisation of extensive capital for private sector financing.
FedEx has launched a new tool, FedEx Sustainability Insights (FSI), giving customers in select African markets access to emissions information on their shipments within the FedEx network
Prembly, which bills itself as a leading compliance and security infrastructure company in Africa has announced its acquisition of secure data sharing company Tunnel.
[Nigeria] Remedial Health raises $12 million to deliver financial services for neighbourhood pharmacies
Nigeria’s Remedial Health, an e-health startup that develops solutions to make Africa’s pharmaceutical value chain more efficient, has secured US$12 million in an equity and debt funding round.
FSD Africa Investments injects £10m into InfraCredit to support Nigeria’s Sustainable Climate Infrastructure
FSD Africa Investments (FSDAi), in collaboration with InfraCredit, have invested £10m into a first-of-its-kind risk-sharing backstop facility, designed to unlock local currency funding for sustainable infrastructure development in Nigeria.
Nigeria trails South Africa and Kenya in the development of key B2B payment processes across Africa, including the adoption of electronic bank transfers, speed of processing invoices and payment automation.
Nearly two years from its passage into law, implementation of the PIA and its initiatives has been slow for numerous reasons, but not without progress, and signals from Nigeria’s new administration indicate that these conditions will not remain the status quo.
A new report from Duplo, a business payment platform for African businesses of all sizes, has revealed that Nigeria trails South Africa and Kenya in the development of key B2B payment processes across Africa, including adoption of electronic bank transfers, speed of processing invoices and payment automation
AMN will deploy Hughes JUPITER gateways and remote terminals to connect several hundred cellular towers via satellite, enabling its operator customers to reach more subscribers in hard-to-reach areas and help bridge the digital divide in the region.
The Governments of Nigeria and the Republic of Equatorial Guinea have opened discussions regarding new partnership opportunities such as the establishment of a joint logistics base, deployment of indigenous capacities across countries, and lowering the costs of major oil and gas operations.
ITFC signs seven agreements worth $ 1.2 billion With Burkina Faso, Cote d’Ivoire, Nigeria, and partner banks
The agreements emphasize ITFC's commitment to fostering deeper cooperation and enhancing the coordination of efforts with its partners.
The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigeria LNG Limited are collaborating to roll out tender opportunities from the gas production and processing company on the Oil and Gas E–Market Place.
The Ethiopian and Nigerian central banks have agreed to swap funds trapped in their respective states, which will see Ethiopian Airlines (ET) recover up to $100 million trapped in Nigeria.
Flutterwave has launched Tuition, a new payment product to allow African users to conveniently pay various fees to educational institutions within Africa and overseas using their local currencies.
[Nigeria] Microsoft-backed FAST Accelerator launches 2nd Cohort of AI program to boost African tartups
Flapmax, a leading artificial intelligence (AI) company on a mission to enrich the lives of everyone on the planet through innovation, has announced the launch of the second FAST Accelerator program.
Hantec Group celebrates 33 years of accomplishments and announces expansion in Africa.
Ayoba has partnered with Adanian Labs to launch an SME Accelerator program aimed at empowering and accelerating the growth of small businesses in Nigeria.
The Executive Vice Chairman of the Nigerian Communications Commission, Umar Danbatta, has said the investment profile in the nation’s telecommunications sector now stands at 75.6 billion as of 2021.
Nigeria earned about $11 billion from crude oil exports in the first half of the year, with OPEC projecting earnings to increase to approximately $29 billion in the same period 2024.
DevCareer, a nonprofit organization focused on supporting young Africans looking to start a tech career, has announced a partnership with the UK- Nigeria Tech Hub
[Nigeria] Financial platform PalmPay unveils savings feature with up to 20% per cent annual interest rate
The savings feature allows for flexible and fixed-term plans and has no minimum amount to participate, empowering users to tailor their savings strategies to align with their unique financial goals and timelines.
The percentage of telecom contribution to GDP was calculated from 46 distinct sectors of the economy, which constitute telecom and information services baskets.
These new hotels include the highly anticipated debut of the bold and cutting-edge upscale lifestyle Radisson RED brand to the country and cemented the Group's introduction in Abuja with two brands.
PalmPay, a pioneering Africa-focused fintech platform, is celebrating a significant landmark in its journey, marking 25 million users on its app.
The collaboration makes financial services accessible at scale to millions of small and medium sized enterprises (SMEs) by bridging the banking gap in suburban locations.
Aruwa Capital Management to invest in OmniRetail, popularly known as OmniBiz, a tech-first B2B e-commerce company that aggregates end-to-end retail operations.
Haul247, an end-to-end logistics tech platform connecting businesses to haulage and warehousing assets, has raised $3 million in a seed funding round. Haul247 will use the investment to increase its market share in Nigeria, expand to other African markets, recruit talent, and develop its technology.
IFC et ses partenaires soutiennent BUA à travers une facilité de 500 millions de dollars visant à promouvoir l’industrialisation et la création d’emplois au nord du Nigéria et au Sahel