In recent years, the subscription model has taken the world by storm. From streaming platforms to monthly snack boxes, the charm of having personalized services delivered to your doorstep or device is undeniable. This convenience, however, comes at a cost. While each service may seem like a small addition to…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
OpenAI, the company behind ChatGPT, has announced the opening of applications for Converge 2 – the second cohort of its six-week program for exceptional engineers, designers, researchers, and product builders using Artificial Intelligence (AI) to reimagine products and industries. Launched in December 2022, Converge was created by OpenAI to accelerate…
The Nigeria Data Protection Commission (NDPC) has taken a significant step towards fortifying the data protection sector with the unveiling of the Nigeria Data Protection Strategic Roadmap and Action Plan (NDP-SRAP 2023-2027). The launch, which took place in Abuja, coincided with a capacity-building workshop on Data Privacy and Protection for…
South African parcel shipping platform, TUNL, has successfully secured $1 million in pre-seed funding from notable investors, including Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels. This funding injection will propel TUNL’s expansion within its primary market, South Africa, while also laying the foundation for its entry…
In a significant move to bolster vaccine production and enhance pandemic preparedness in Africa, the International Finance Corporation (IFC) has unveiled an investment and advisory support package for Biovac, a prominent South African biopharmaceutical company. The IFC’s investment comprises a loan equivalent to $7 million rand, aimed at supporting Biovac’s…
Copia Global has raised $20 million in a Series C extension round led by Enza Capital. Other participants in the funding round include global private bank LGT, investment firm Goodwell Investments, the U.S. International Development Finance Corporation (DFC), German financial service provider DEG, Swiss impact fund Elea, Perivoli Foundation and…
In a groundbreaking move for the African continent, Kenya’s BURN has successfully sold the first-ever carbon credit futures tied to emissions reductions achieved through the deployment of efficient cook-stoves. The company, renowned for manufacturing and distributing over four million environmentally friendly cook-stoves across Africa, marked this significant milestone by selling…
WhatsApp announced that it is rolling out the ability to pin chats within one-on-one and group conversations. This means that you should be able to pin a poll, a picture, or even a video to remind yourself of things that matter to you. Users can only pin one chat at…
On Monday, President Tinubu commissioned 107 electric/gas buses, and taxis in Borno State for a mass transit scheme and it is being lauded as one of Governor Babagana Zulum’s government ways of cushioning the impact of the fuel subsidy removal. The fleet of vehicles that make up the mass transit…
The Central Bank of Nigeria (CBN) has implemented a new directive to halt the processing charges previously applied to substantial cash deposits by banks, financial institutions, and non-bank financial institutions. Effective immediately, the suspension impacts individual account deposits exceeding N500,000 and corporate account deposits surpassing N3,000,000. Previously, these deposits incurred…
BURN Manufacturing (BURN), a global leader in clean cookstove manufacturing, distribution, and carbon-offset projects has received $10 million from the Africa Go Green Fund (AGG), managed by Cygnum Capital Asset Management. The funding aims to support BURN’s distribution of clean cookstoves to households in Mozambique, Nigeria, and the Democratic Republic…
Aleph, a global ecosystem of digital experts and technology-driven solutions, has joined forces with Audiomack, the New York-based audio streaming platform, in an exclusive partnership that designates Aleph as Audiomack’s Authorized Sales Partner in Nigeria and Ghana. This collaboration underscores Aleph’s dedication to fortifying its footprint and strategy in Sub-Saharan…
WIC Capital has successfully obtained a $1 million loan from FSDAi Nyala Facility, aiming to bolster its efforts in supporting women-led businesses across Francophone Africa. FSDAi Nyala Facility is a partnership with the Collaborative for Frontier Finance (CFF) and the Facility Manager, Nyala Venture, a Joint Venture of Cardano Development…
Nigerian fintech startup Bujeti has successfully raised $2 million in seed funding to propel its comprehensive corporate card issuance and expense management platform to new heights. The funding round was spearheaded by Y Combinator, featuring contributions from notable investors such as Alan Rutledge, Heirloom VC, Tristan Walker, Entrée Capital, Voltron…
Dangote refinery is set to commence production after receiving one million barrels of crude oil from Agbami offshore oil field, off the Niger Delta. According to the Dangote group in a statement, this cargo is the first of 6 million barrels that would enable an initial run of the refinery.…
In the dynamic landscape of modern finance, there’s a refreshing wind blowing: the shift towards simplicity. Gone are the days when obtaining financial assistance felt like trekking through a thick jungle of bureaucracy. Imagine walking through a serene meadow instead. This new era ushers in the promise of business loans…
Flutterwave, one of Africa’s leading payments technology company, announced that it has secured money transfer licenses for 13 U.S. states, enhancing its ability to facilitate faster, more affordable, and secure cross-border transactions between the United States and Africa. The newly acquired licenses cover Arizona, Arkansas, Maryland, Michigan, Delaware, Georgia, Maine,…
Development Finance Institutions, British International Investment (BII), FMO, and Proparco, along with renewable fund manager Frontier Energy, have announced a co-investment exceeding $52 million in the Planet Solar project, a greenfield 50MW solar power initiative in Sierra Leone. Developed by Frontier Energy and Planet One, the project aims to address…
Bitmama Inc., a prominent cross-border payment solutions company, and Payday, a pioneer in digital payment solutions, have jointly announced the acquisition of Payday by Changera, a product of Bitmama Inc. This was disclosed In a statement made available to Innovation Village. This is however, coming as a surprise as Payday announced…
tappi, a digital commerce Software as a Service (SaaS) solution tailored for small and medium-sized businesses (SMEs), has successfully raised $1.5 million in a pre-seed funding round. The investment was led by Mercy Corps Ventures and Chui Ventures, with participation from notable backers, including Digital Currency Group, SOSV, Resilience17, growX…