Author: Staff Writer

Silverbacks Holdings, a Mauritius-based private investment firm, has recently made a strategic investment in African Warriors Fighting Championship (AWFC), Nigeria’s largest Dambe (traditional boxing) promoter. Announced at the inaugural New Africa Summit within the Future Investment Initiative in Riyadh, this partnership marks a significant milestone for Silverbacks as it seeks…

Growth Investment Partners (GIP) Ghana, an investment platform backed by British International Investment (BII), has announced a significant investment in Truecoco Ghana Limited, a major player in agricultural processing based in Ghana’s Western Region. This partnership represents an essential step toward enhancing Ghana’s agricultural processing capabilities, supporting local farmers, and…

To accelerate Nigeria’s ambitious 3 Million Technical Talent (3MTT) initiative, the federal government recently announced the formation of an advisory committee comprised of some of the nation’s most respected tech leaders. This committee is tasked with steering the program toward its target of equipping three million Nigerians with the digital…

The Federal Ministry of Communications, Innovation & Digital Economy (FMCIDE) and Google have announced the 10 startups to benefit from the N100 million Artificial Intelligence (AI) fund. The AI fund was launched in September 2024 and is coordinated by the National Centre for Artificial Intelligence and Robotics (NCAIR) and Google. Through…

OpenAI has launched an advanced web-integrated search feature, ChatGPT Search, embedded directly in its ChatGPT platform. This new feature was unveiled in July this year. Building on the capabilities of the prior SearchGPT prototype, ChatGPT Search now offers “timely answers” using a refined GPT-4 model to pull information from a…

African venture capital firm Janngo Capital recently announced the final close of its second fund, securing €73 million ($78 million), exceeding its initial target of €60 million ($63 million). The firm, led by founder Fatoumata Bâ, initially marked the first close at €60 million in 2022, drawing investments from prominent…

Nigeria, in collaboration with other West African countries, is preparing to introduce a unified system for driver’s licenses and vehicle registrations. This effort, part of a regional initiative to standardize transportation systems, aims to enhance road safety and facilitate the free movement of people and goods across borders within the…

Aliko Dangote, President and CEO of Dangote Group, recently voiced strong support for Nigeria’s transition from petroleum products to Compressed Natural Gas (CNG). In a bid to align with Nigeria’s commitment to a net-zero emissions future, Dangote has positioned his company at the forefront of CNG adoption, underscoring both economic…

Apple and Goldman Sachs have come under intense regulatory scrutiny over the Apple Card, resulting in a substantial $89 million fine issued by the Consumer Financial Protection Bureau (CFPB). The penalty stems from what the CFPB describes as “illegally mishandling transaction disputes and misleading iPhone purchasers about interest-free payment options,”…

IZI, the innovative Africa-focused e-mobility provider, is advancing its mission to electrify Rwanda’s public transport sector. In just four months of operation, IZI has demonstrated significant success with its initial fleet of five electric buses. These buses have traveled over 74,000 electric kilometres, carried more than 250,000 passengers, saved operators…

Flour Mills of Nigeria Plc is embarking on an ambitious plan to invest up to $1 billion over the next four years, reinforcing its commitment to expanding its operations and driving economic growth in Nigeria. This announcement comes at a crucial time, aligning with President Bola Tinubu’s economic reforms, which…

In a strategic move aligned with its sustainability goals, MTN Nigeria, the country’s largest telecommunications operator, has introduced biodegradable, paper-based SIM cards. This innovative step is part of the company’s broader “Project Zero” initiative, which aims to achieve net-zero emissions by 2040. With the telecom industry increasingly recognizing the importance…

FBNHoldings Plc, one of Nigeria’s premier financial institutions, has announced the appointment of Adebowale (Wale) Oyedeji as its new Group Managing Director (GMD). The appointment, which will take effect on November 13, 2024, is pending approval from the Central Bank of Nigeria and ratification by shareholders at the next Annual…

As the tech world continues to grapple with the future of work, Amazon has drawn a clear line in the sand regarding remote work. AWS CEO Matt Garman recently made headlines with his blunt message to employees: if you don’t like the new five-day in-office policy, it might be time…

In a world increasingly shaped by digital interactions, the dangers of online exploitation, particularly sextortion, loom large over young adults and teens. Sextortion is a form of cybercrime where scammers threaten to expose someone’s intimate images unless they receive payment or further compromising content. These criminals target young, vulnerable users,…

Nigeria took a significant step forward in its fight against malaria as the country received its first consignment of malaria vaccines on Thursday. The National Primary Health Care Development Agency (NPHCDA) confirmed the arrival of 846,000 doses of the R21 malaria vaccine, a critical resource in the battle against one…

Ampersand, one of Africa’s leading electric vehicle (EV) energy tech companies, has announced the opening of a new, larger manufacturing facility in Nairobi, a move that will triple its production capacity in Kenya. This strategic expansion allows Ampersand to keep pace with the country’s rapidly growing demand for electric motorcycles,…

Yellow Card, one of the continent’s leading stablecoin on/off-ramp platform, announced that it has successfully closed a US$33 million Series C funding round, propelling the company’s mission of driving digital asset adoption across Africa. Led by Blockchain Capital, this latest equity financing marks Yellow Card’s total funding to date at…

Grid Africa, a leading player in renewable energy solutions, has announced a major boost to its operations through an equity investment of R50 million ($2.83 million) from Rifuwo Energy Partners. This funding will play a pivotal role in advancing solar energy projects across South Africa, particularly at a time when…

The Federal High Court in Abuja has extended a freezing order on 818 bank accounts under investigation for allegedly receiving proceeds from a N10 billion cyber-attack on the Hope Payment Service Bank (PSB) platform. The Inspector General of Police (IGP) was granted an additional 30 days to freeze these accounts…