Johnvents Group, a leading Nigerian agribusiness and manufacturing conglomerate, has secured a $40.5 million investment from British International Investment (BII), the UK’s development finance institution and impact investor. This landmark partnership is set to propel Premium Cocoa Products Ile-Oluji, one of Johnvents Group’s key subsidiaries, to achieve its full production…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
Egyptian B2B SaaS startup Qme has just raised $3 million in a seed funding round led by AHOY—a multisector technology company from the GCC—marking a significant milestone in the region’s digital transformation. As a forward-thinking, AI-driven platform, Qme is on a mission to tackle one of MENA’s persistent problems: inefficient…
Elon Musk’s artificial intelligence startup, xAI, is gearing up to shake up the AI landscape with the launch of its third-generation Grok 3 chatbot. Set to debut with a live demonstration on Monday at 8 p.m. Pacific Time (5:00a.m. Tuesday W.A.T), Grok 3 is being touted as the “Smartest AI on…
The Lagos State Government has announced that its work-from-home initiative for public servants will officially end on March 31, 2025. This decision, declared by Head of Service Mr. Bode Agoro in a recent NAN statement, aligns with the government’s rollout of an N85,000 minimum wage for civil servants—a measure aimed…
In a significant boost for environmental sustainability and job creation, the International Finance Corporation (IFC) has partnered with Ghana-based manufacturer Mohinani Group Limited to spearhead the recycling of Polyethylene Terephthalate (PET) from plastic waste in Ghana and Nigeria. This strategic alliance marks a pivotal moment in Africa’s journey towards a…
dLocal, a leading cross-border payment platform, and AZA Finance, a prominent fintech company specializing in payments and foreign exchange in Africa, have entered into a strategic partnership designed to expand both companies’ service offerings through mutual cross-selling. By integrating dLocal’s robust cross-border payment infrastructure with AZA Finance’s specialized foreign exchange…
In a bold move to challenge established ride-hailing giants in Canada, Estonia-based Bolt has launched its Hopp service in the Greater Toronto Area. This expansion marks a significant step in Bolt’s recent push into the North American market, as the company seeks to extend its global reach beyond its stronghold…
In a move aimed at empowering businesses and reducing operational costs, Guaranty Trust Bank (GTBank) has announced the removal of processing fees on all GTBank POS terminals. This initiative, which took effect on Tuesday, 11 February 2025, ensures that merchants using GTBank POS terminals will no longer incur Merchant Service…
Elon Musk’s social media platform, X (formerly Twitter), has agreed to a $10 million settlement in response to a lawsuit filed by former U.S. President Donald Trump, according to a report by The Wall Street Journal. The lawsuit, which stemmed from Trump’s suspension following the January 6, 2021, U.S. Capitol riot, marks another chapter in the ongoing battle…
In a surprising yet strategic expansion, Apple has officially launched the Apple TV app on Android mobile devices, including phones, tablets, and foldables. This marks a significant shift for Apple, a company traditionally known for keeping its services tightly integrated within its ecosystem. The move allows Android users to access…
According to Gartner, the overall semiconductor market rebound reshaped the rankings of the top semiconductor vendors, with Samsung Electronics reclaiming the No. 1 position from Intel, driven by a strong rebound in memory device prices. “Graphics processing units (GPUs) and AI processors used in data center applications (servers and accelerator cards) were the…
The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy supporting young entrepreneurs, has secured a $6 million strategic partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation (an affiliate of Erth Zayed). Announced at the World Government Summit, this collaboration will provide business training,…
As digital transactions become more essential in Nigeria, many individuals and businesses struggle with international payments due to restrictions on local bank cards. Most Nigerian banks have either stopped supporting foreign transactions or imposed strict limits, making it difficult to pay for essential services like Netflix, Amazon, and Facebook Ads.…
In a sharp and dismissive response, OpenAI CEO Sam Altman rejected Elon Musk’s $97.4 billion bid to acquire OpenAI’s controlling nonprofit, signaling a deepening rift between the two AI pioneers. Altman took to X (formerly Twitter) to reply with a tongue-in-cheek remark: “No thank you, but we will buy Twitter…
Nigeria has officially launched its first fully compliant stablecoin, cNGN, marking a significant advancement in the country’s digital finance landscape. Developed by the Africa Stablecoin Consortium—a coalition of Nigerian financial institutions, fintech firms, and blockchain experts—the cNGN stablecoin is pegged 1:1 to the Nigerian Naira and aims to bridge traditional…
The Central African Republic (CAR) has ventured into the cryptocurrency landscape by launching its own meme coin, dubbed $CAR. President Faustin-Archange Touadéra announced this initiative, describing it as an experiment to demonstrate how a simple meme can unite people, support national development, and elevate the country’s global presence. This move…
Meta Platforms, the parent company of Facebook, is set to initiate company-wide layoffs starting Monday, February 10, 2025. Notifications will begin at 5 a.m. local time in most countries, with exceptions in Germany, France, Italy, and the Netherlands due to local regulations. Employees in other regions, including Europe, Asia, and…
Ecobank Group has entered a partnership with XTransfer, the world’s leading B2B cross-border trade payment platform, to transform Africa-China trade. Through this collaboration, they are delivering seamless international payment solutions for small and medium-sized enterprises (SMEs) across the continent. With trade between China and Africa hitting a record $282 billion…
TikTok is proving to be more resilient than ever in the face of increasing regulatory pressure in the United States. Despite being removed from the Google Play Store and Apple App Store following a U.S. ban, the social media giant has found a way to keep its services accessible to…
VFD Group has notified the Nigerian Exchange (NGX) that its Board has approved the divestment of its 57.26% stake (343,546,646 ordinary shares) in Atiat Limited, a transaction worth ₦7 billion. The disclosure, signed by the company secretary, Gbeminiyi Shoda, was published on NGX on February 7, 2025. VFD Group, renowned…