In a strategic move, ride-hailing trailblazer inDrive is delving into the realm of financial services, aiming to provide a safety net for drivers navigating the challenges of developing markets. Mark Loughran, the dynamic president and deputy CEO who joined inDrive last summer, envisions this venture as a catalyst for enhanced…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
In 2023, the top ten funding deals by Nigerian tech startups amounted to $253.15 million. Despite the decline in funding compared with the previous year, these 10 startups were able to raise these funds to scale their businesses. The list includes startups across different sectors of the ecosystem, from fintech…
As of December 2023, the National Identity Management Commission (NIMC) has reported a noteworthy increase in the number of Nigerians with National Identification Numbers (NINs), reaching a total of 104.16 million. This marks a 10.77% growth from the end of December 2022, where the recorded figure stood at 94.03 million.…
To enhance security, streamline law enforcement, and combat the evolving challenges of vehicular crimes, the Nigeria Police Force (NPF) has embarked on a transformative journey—digitizing the Central Motor Registry (CMR). Established over 60 years ago to manage motor vehicle information, the CMR is undergoing a modernization that aligns with the…
Elon Musk’s SpaceX announced that it has launched its first ever set of Starlink direct-to-cell satellites to provide cell phone service anywhere in the world. On Wednesday, T-Mobile US announced that SpaceX successfully launched a Falcon 9 rocket on Tuesday, carrying the initial set of Starlink satellites designed to transmit…
Mmobuosi Odogwu Banye, also known as Dozy Mmobuosi, the founder of Tingo Group, a financial technology company, has been charged with securities fraud in New York; accused of masterminding an extensive scheme to artificially inflate the company’s financial health. He allegedly manipulated financial statements to present Tingo and its subsidiaries…
Airtel Africa plc, a leading telecommunications and mobile money company, has officially communicated the retirement of its Chief Executive Officer, Segun Ogunsanya, effective from July 1, 2024. Mr. Ogunsanya, who has been at the helm since 2021, played a pivotal role in the company’s success, notably leading the Nigeria Operations…
In a significant escalation of the legal battles surrounding the use of published content to train artificial intelligence (A.I.) technologies, The New York Times has filed a copyright infringement lawsuit against OpenAI and Microsoft. This move marks the first instance of a major American media organization taking legal action against…
As we stand on the cusp of a new year, the time is ripe for reflection and forward-thinking. Planning for your life is not just about setting resolutions but about creating a roadmap that aligns with your aspirations. Let’s delve into the practical elements that constitute a robust plan to…
In a significant shift, Nigeria’s Central Bank has decided to lift the ban on transacting in cryptocurrencies, acknowledging global trends that emphasize the necessity of regulating such activities. This reversal comes after the Central Bank of Nigeria (CBN) imposed a ban in February 2021, prohibiting banks and financial institutions from…
Two of Africa’s leading e-commerce giants, MaxAB and Wasoko, have officially announced their intent to merge, marking a significant milestone in the evolution of Africa’s digital retail landscape. The merger, described as a union of equals, is set to propel the transformation of Africa’s informal retail sector, creating the largest…
South African aerospace startup, Cloudline, has successfully raised $6 million in funding to propel its vision of leading the global frontier in carbon emissions-free autonomous flight. The seed round saw investment from Schmidt Futures, founded by former Google CEO Eric Schmidt and Wendy Schmidt, along with pan-African funds like the…
In a groundbreaking moment for medical science, the U.S. Food and Drug Administration (FDA) has approved two cutting-edge treatments, Casgevy and Lyfgenia, marking the first-ever cell-based gene therapies for sickle cell disease (SCD) in patients aged 12 and older. Notably, Casgevy stands out as the maiden FDA-approved therapy utilizing CRISPR/Cas9,…
Egypt-based edtech startup, iSchool, has successfully raised $4.5 million in a funding round led by VentureWave Capital, an Irish VC. Other contributors include OneStop Capital UK, Webit Investment Network, and Oraseya Capital, the Venture Capital arm of the Dubai Integrated Economic Zones Authority iSchool’s platform offers live gamified classes led…
In October 2023, Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, introduced the “Nigeria Artificial Intelligence Research Scheme,” an initiative designed to provide financial support to startups and researchers, aiming to create a vibrant and sustainable artificial intelligence (AI) ecosystem within Nigeria. The Honourable Minister, in a post on X,…
The Federal Ministry of Communication, Innovation and Digital Economy in partnership with Raspberry Pi, has announced the launch of “Build-a-thon” , an initiative to introduce senior secondary students to embedded systems and maker culture. According to the Minister, Dr. ‘Bosun Tijani in a post on X, “this is part of…
InfraCredit, a top-rated infrastructure credit guarantee institution, has secured a significant equity investment from AIICO Insurance Plc, representing a 5% stake in InfraCredit’s total share capital. This move makes AIICO the second private domestic institutional investor, alongside Leadway Assurance Plc. With AIICO’s equity investment, InfraCredit’s paid-in capital will see a…
These five startups – Letaji, Chestify AI, OneHealth, Sayna and Koa Academy – have qualified to compete for $50K Equity Prize in 2023 MEST Africa Challenge. They beat 40 competing startups from Ghana, Kenya, Nigeria, Senegal, and South Africa in the MEST Africa Challenge (MAC), an Africa-wide pitch competition for…
As we approach 2024, the air is thick with possibilities. For some, it’s merely the start of another month; for others, it’s the dawn of a new year, brimming with fresh ambitions and goals waiting to be realized. Whether securing your dream job is part of your New Year resolution…
The healthcare industry has always been at the forefront of embracing technological advancements to improve patient care and administrative efficiency. A significant development in this realm is the rise of virtual medical administrative assistance. This evolution marks a transformative period in healthcare management, fundamentally altering how medical practices handle administrative…