African small and medium-sized enterprises (SMEs) are often caught between being too large for microfinance and too unconventional for venture capital. Sabou Capital, a newly launched fund led by entrepreneur Surayyah Ahmad, is stepping in to fill that gap—bringing smart capital and tailored support to the region’s most promising businesses.…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
Midjourney, the AI-powered visual generation platform known for pushing the boundaries of imagination, has announced the alpha release of its highly anticipated V7 model, inviting the community to test-drive a host of powerful new features. From smarter text interpretation to image realism upgrades and game-changing iteration tools, V7 sets a…
MTN Group, the continent’s largest mobile network operator, announced that it has entered into a strategic partnership with UK-based video software giant Synamedia to develop a new streaming platform tailored to African audiences. The collaboration will bring a state-of-the-art streaming experience to mobile and fibre broadband subscribers across MTN’s 16…
After two previous attempts, Senegalese entrepreneur Henri Ousmane Gueye has finally claimed the spotlight as the grand prize winner of the 2024 Africa’s Business Heroes (ABH) Prize Competition, a major continental initiative recognizing entrepreneurs driving positive change across Africa. Henri, a trained software engineer with a clear vision for digital…
In a landmark move to strengthen Cameroon’s small business sector, the International Finance Corporation (IFC) and Afriland First Bank Cameroon (First Bank) have announced a $60 million financing partnership aimed at expanding access to capital for small and medium-sized enterprises (SMEs). This strategic initiative is designed to help businesses grow,…
Africa’s music industry is no longer an emerging force—it’s a global movement. And leading the charge in turning streams into steady incomes is audio streaming giant Spotify, which has become a powerful bridge between African artists and international audiences. In 2024 alone, Spotify paid out approximately $59 million in royalties…
Meta has unveiled its most ambitious leap in artificial intelligence to date with the launch of Llama 4, the latest in its open-source large language model series. More than just a model update, Llama 4 signals a strategic shift toward multimodal intelligence—AI that can understand and work across text, images,…
In a bold move to reshape the energy landscape of Northern Nigeria, the Presidential Compressed Natural Gas Initiative (P-CNGi) has partnered with LNG Arete Ltd. to develop a $27.3 million gas plant project aimed at boosting access to compressed natural gas (CNG) across the region. Signed last Friday, the landmark…
In a major win for sustainable innovation in West Africa, TRANSFORM West Africa – an impact accelerator backed by Unilever, the UK Government, and EY – has awarded £500,000 in grant funding to five trailblazing enterprises across the region. These businesses are tackling urgent challenges in circularity and regenerative agriculture,…
YouTube has raised the cost of its Premium subscription plans in Nigeria and South Africa, marking a significant change for users who have enjoyed the ad-free streaming experience at lower regional rates. In Nigeria, users were notified via email on April 4, 2025, that the individual YouTube Premium plan would…
In a last-minute decision, President Donald Trump has issued an executive order granting TikTok a 75-day extension, delaying a previously scheduled ban and allowing more time to secure a U.S.-based ownership deal. The announcement came Friday via Trump’s Truth Social account, offering a temporary lifeline to the popular video-sharing app.…
The International Finance Corporation (IFC)—a member of the World Bank Group—has partnered with First African Company SA (FAC) to expand the local production of affordable, nutritious dairy products and fruit juices. Announced some days ago, the collaboration includes a €2 million financing package that will fuel FAC’s production capacity, introduce…
In a major milestone for Francophone Africa’s fintech scene, Ivorian digital bank Djamo has raised $17 million in fresh equity funding to expand its services across the region. The round, led by Pan-African venture capital firm Janngo Capital, marks the largest VC raise by any startup in Ivory Coast, underscoring…
In a landmark step toward asserting sovereignty and strategic oversight in the space sector, the National Space Research and Development Agency (NASRDA) is preparing to roll out its long-overdue space regulation and licensing framework. This move follows the approval of a ₦20 billion take-off fund by President Bola Tinubu, signaling…
In a major leap forward for national defence and technological self-sufficiency, the Nigerian military, in collaboration with Briech UAS, has officially unveiled Africa’s first and largest indigenous attack drones and bombs. The unveiling, held at Briech UAS headquarters in Abuja, marks a watershed moment for Nigeria’s defense capabilities in the…
In a powerful endorsement of its mission to transform infrastructure across the continent, Africa50, the pan-African infrastructure investor and asset manager, has welcomed the Public Investment Corporation (PIC) of South Africa as its 36th shareholder with a $40 million investment. The PIC, which manages $141.5 billion in assets on behalf…
When the news broke out on April 1, most people thought it was an April Fools prank but Sterling Bank confirmed it was no ruse and it was effective immediately. Sterling Bank has officially introduced a zero-transfer fee policy for all local online transactions conducted through its mobile app. This…
Global beverage giant Diageo plc has announced the sale of its 54.4% shareholding in Seychelles Breweries Limited to Phoenix Beverages, a Mauritius-based subsidiary of the IBL Group for approximately $80 million. The transaction marks the latest in a series of divestments across Africa as Diageo continues its strategic push to…
In what could become a major reshuffle in the digital payments space, Visa has reportedly offered Apple $100 million to become the new payment network for the Apple Card, replacing Mastercard. This strategic move—revealed by the Wall Street Journal—signals an escalating competition among top-tier financial institutions to align with tech…
OpenAI has officially opened the gates to its powerful image-generation tool, making it available to free users for the first time. The tool, integrated into ChatGPT and powered by the advanced GPT-4o model, had previously been exclusive to paid subscribers. In a post on X (formerly Twitter), OpenAI CEO Sam…