Thousands of small businesses and agricultural cooperatives across sub-Saharan Africa are facing uncertainty after the U.S. African Development Foundation (USADF) slashed $51 million in funding previously earmarked for startups and small enterprises. The budget cut threatens to disrupt promising initiatives in countries like Nigeria, Kenya, Benin, and Burkina Faso, where…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
Sweden has deepened its commitment to Africa’s innovation ecosystem with the launch of its largest innovation hub on the continent—right in the heart of Lagos, Nigeria. The initiative signals a new chapter in bilateral cooperation between Sweden and Nigeria, built on mutual interests in technology, sustainable development, trade, and education.…
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has announced a record-breaking financial performance for the year ended December 31, 2024, with revenue exceeding $1.1 billion—the highest in the Corporation’s history. This milestone marks a defining moment in AFC’s mission to close Africa’s vast infrastructure gap by catalyzing…
Africa-focused digital bank, Umba, has raised a $5 million debt facility to accelerate its secured lending operations in Kenya, a strategic pivot that signals the company’s maturing financial model and long-term vision for inclusive digital banking in Africa. The funding, which comes exclusively from US-based Star Strong Capital, marks a…
WhatsApp is making quiet but meaningful strides in improving the way users experience audio and video calls. In its latest Android beta update (version 2.25.10.16), the platform is testing several new features that promise to make answering calls not just smoother—but also more private and interactive. One of the most…
Amazon is poised to make a significant leap in the satellite internet arena with the upcoming launch of its Project Kuiper satellites, aiming to establish a robust competitor to SpaceX’s Starlink network. This initiative underscores Amazon’s commitment to expanding global broadband access and intensifies the competition in the burgeoning field…
Meta, the parent company of Facebook, Instagram, and Messenger, is strengthening its commitment to teen safety by extending its “Teen Accounts” protection framework beyond Instagram to now include Facebook and Messenger. This move reflects Meta’s ongoing effort to create safer digital spaces for young users across its entire platform ecosystem.…
BYD, one of the world’s leading electric vehicle manufacturer, has officially entered the Nigerian market through a strategic partnership with LOXEA Nigeria, a subsidiary of CFAO Mobility. This launch signals the beginning of a new era for Nigeria’s transportation landscape—one where clean, efficient, and innovative mobility takes center stage. Globally…
Pascal Gabriel Dozie, a pioneering Nigerian entrepreneur, economist, and institution builder, has passed away at the age of 85. Best known as the founder of Diamond Bank, Dozie’s legacy stretches far beyond banking, touching telecommunications, education, and the broader development of Nigeria’s private sector. Born in 1939, Dozie was part…
The International Finance Corporation (IFC) has committed $12 million to support the development of Sierra Leone’s first commercial-scale onion farming operation, in partnership with Pee Cee Holding Ltd. (PCH). The investment is expected to transform the country’s agricultural landscape, boost local food production, and reduce dependence on imported onions. The…
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.…
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…