Nigeria’s federal government launched the iDice Startup Bridge, a two-track program giving idea-stage founders grants of up to ₦10 million ($7,215) and equity investment of $100,000 for post-MVP startups, according to Techcabal. The initiative will be executed by the Bank of Industry, with financial support from the African Development Bank, the Agence Française de Développement, and the Islamic Development Bank. iDice will be part of the wider Investment in Digital and Creative Enterprises (iDICE) program, a federal initiative aligned with Nigeria’s digital economy agenda. “Founders Lab is a bridge that
A British Asian man was arrested for a burglary 80 miles away from his home after facial recognition mistook him for another man from a South Asian background, The Guardian reports. In January, 26-year-old Alvi Choudhury was taken in by the police at his parents’ home in Southampton. The burglary took place in Milton Keynes, which is 80 miles (130km) away from his home. Facial recognition wrongfully arresting man of color In January, 26-year-old Alvi Choudhury was taken in by the police at his parents’ home in Southampton. The burglary
Black-owned investment firm Fearless Fund is launching a microfinance fund in Ghana. This, after, comes the American Alliance (AAER), which sued Fearless Fund, claiming that the Strivers Grant, sponsored by Mastercard, violated the Civil Rights Act of 1866 by excluding white founders. The Fearless Fund launched a new initiative one year after settling a lawsuit with the American Alliance for Equal Rights (AAER). Now the venture capital firm has set its sights on Africa. It’s launching a microfinance fund in Ghana on March 21 and awarding GHS 100,000 to female entrepreneurs, according to
Africa could capture up to $136 billion in AI productivity gains, but only if governments allow secure cross-border data flows, a Microsoft Africa executive told TechCabal. Reporting from TechCabal quotes Akua Gyekye, Microsoft Africa’s government affairs director, tying the estimate to two constraints that sit below most AI headlines. Africa holds about 1% to 2% of global compute, and it also sits inside a tightening, country-by-country compliance perimeter that can block regional scale. Compute scarcity shifts bargaining power to hyperscalers Africa has 223 data centres across 38 countries as of
Talksign, a Nigeria and UK-based AI company, launched Talksign-1 on Monday, a model it says translates American Sign Language into speech and text in under 100 milliseconds. Reporting from the company says the release targets a structural bottleneck in digital infrastructure: most mainstream interfaces assume spoken audio input and output. World Health Organisation figures put the addressable need at scale, with over 430 million people worldwide who are deaf and 70 million people who use sign language as their primary communication method, yet core tools like video conferencing and service
Paystack, the Nigerian fintech owned by Stripe, reorganized its businesses under a new holding company, The Stack Group, in Nigeria this week after reaching group profitability. The new structure places four businesses under TSG: Paystack’s core merchant payments business, the consumer payments app Zap, Paystack Microfinance Bank, and a venture studio known as TSG Labs. The shift reflects a strategic move to manage risk, regulation, and ownership across distinct financial products. A Holding Company Model to Contain Risk and Regulation By adopting a holding company structure, Paystack has separated payments,
PayPal is returning to Nigeria through a new partnership with fintech company Paga, allowing individuals and businesses to receive international payments, withdraw funds in naira, and access PayPal’s global network after nearly two decades of restricted service, TechCabal reports. For the first time, Nigerians can receive PayPal funds directly into a locally regulated wallet at scale, rather than relying on workarounds and business‑only routes. From bans to local partners PayPal blocked Nigerians from receiving payments in 2004, citing fraud concerns, and for years offered only limited functionality. Nigerians could often
Steven Bartlett’s Flight Story has partnered with Dr Raphael Sofoluke, founder of the UK Black Business Show, to launch Legacy Black. The 50/50 joint venture aimed at building a global media brand focused on Black business and wealth creation. The partnership targets over £100 billion ($134 billion) of economic impact over the next decade. It emerged after Bartlett spoke at the UK Black Business Show in 2023, evolving into a media business designed to convert community into a sponsor-backed revenue model. Flight Story And UK Black Business Show Join Forces
A 13-year-old boy in the UK is paying his own boarding school fees using profits from his Caribbean food business, a venture he started at just six years old. Malaki Conteh now covers the portion of his school fees not covered by financial aid at The Prebendal School in southern England, where he attends as a full-time boarder. Tuition runs about £4,000 ($5,384) per semester, with Conteh paying the remaining balance after receiving a 50% scholarship, My London reports. Turning a Family Kitchen Into a Business Conteh runs Malaki’s Food
Nigerian mobility financing company MAX has raised $24 million in a mix of equity and debt after reaching profitability in Nigeria, its largest market, multiple reports confirm. The funding signals renewed investor interest in electric mobility across Africa, where rising fuel prices and falling battery costs are making electric two- and three-wheelers increasingly attractive for commercial drivers. The round includes equity from Equitane DMCC, Novastar, Endeavor Catalyst, and other global investors, alongside asset-backed debt from the Energy Entrepreneurs Growth Fund and development finance institutions. Profitability Brings Investors Back Founded in 2015 as Metro
