Kai Cenat recently confirmed plans for his Nigerian school after months of speculation and criticism from fans. In 2024, the streamer visited the Makoko Children Development Foundation School and Orphanage in Lagos, where he saw the dire conditions of the students and staff. After seeing the school’s sinking building, limited space, and the struggle to provide a learning environment for its 385 students, Cenat wanted to help. Cenat announced plans to construct a new school in the Makoko community. In the announcement, he asked people living in Nigeria or on the African
Alami Capital, the National Information Technology Development Agency (NITDA), and the Securities and Exchange Commission (SEC) are collaborating to launch the LaunchPad at GITEX Nigeria 2025, a pioneering investment and venture-building platform designed to scale Africa’s most promising women-led startups. Women in Africa own 27% of businesses and contribute 13% of GDP, and yet they only receive 7% of total venture capital. The LaunchPad will tackle the under-capitalization of women-owned startups. After GITEX Nigeria, The LaunchPad will give $250,000 in catalytic capital to 5 selected ventures, along with mentorship and
Mastercard released a whitepaper highlighting Africa’s readiness, opportunity, and roadmap for responsible artificial intelligence (AI) adoption. Harnessing the transformative power of AI in Africa shares insights into how AI can unlock significant outcomes across the continent’s major industries, including agriculture, healthcare, education, energy, and finance. The whitepaper also details the potential positive impact of AI on digital infrastructure, policy and governance, research and development, local language processing, and investment into Africa. Additionally, it examined how AI can create more jobs, with up to 230 million digital jobs projected by 2030 on
Chowdeck, a food delivery startup based in Lagos, has raised $9 million in Series A funding. The equity round was led by Novastar Ventures, with participation from Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, HoaQ, and others. The fund will help the company expand in more cities in Nigeria and Ghana and roll out a quick commerce strategy aimed at speeding up grocery and local market deliveries, according to Business Insider Africa. “We’re thrilled about this round as it brings us closer to our vision of becoming Africa’s
Owolabi Salis, a Nigerian lawyer, was on the six-man crew of Blue Origin’s 13th human spaceflight for the New Shepard program. The flight lasted 10 minutes and reached a peak altitude of 105.2 kilometres, crossing the Kármán line, the internationally recognized boundary of space, according to a press release. Who is Owolabi Salis? Salis is a lawyer and politician who has now become the first Nigerian to travel to space. The lawyer who comes from Ikorodu, Lagos, described his journey as a “convergence of science and spirit.” “This mission is more
The Federal Ministry of Industry, Trade, and Investment aims to position Nigeria as a leading exporter of skills in technology, medical and professional services, and creative industries with the relaunch of the National Talent Export Programme (NATEP), according to TechPoint. Positioning Nigeria in the global services economy Dr. Jumoke Oduwole, the Minister of Industry, Trade, and Investment, spoke about the recent move at the Itana Free Zone, stating that the relaunch of President Bola Ahmed Tinubu’s vision aims to position Nigeria firmly in the global services economy. “The opportunity is
The Financial Times has released its ranking of the fastest-growing African countries. The ranking, now in its fourth year, revealed that Nigerian and South African companies dominate the list, with 79 businesses from both countries featured. This speaks to the size and entrepreneurial depths of both economies, according to the FT. It also shows that businesses from smaller countries are struggling to build a continental presence. Nigerian companies on the list The top three companies on the list are Nigerian: Omniretail Inc., PalmPay Ltd, and Remedial Health Inc. PalmPay is
Nigerian startup Salpha Energy has raised $1.3 million in funding from All On, an impact investment firm supported by Shell. Salpha Energy is the only female-founded startup that runs a solar home system assembly facility in sub-Saharan Africa, according to Distrupt Africa. The company is dedicated to providing affordable and reliable solar power to underserved communities across Africa. Having local manufacturing capacity enables the company to manage product quality and design more effectively, while also generating employment opportunities in the area. $1.3 million funding from All On The fund will be
The Competition Authority of Kenya (CAK) has officially approved Moniepoint Inc.’s acquisition of a 78% stake in Sumac Microfinance Bank Limited. Sumac is a well-established Kenyan microfinance institution that offers a range of services, including lending, deposit-taking, insurance, and foreign exchange trading. This move will enable the Nigerian fintech to expand into East Africa. Moniepoint expanding in East Africa This acquisition is Moniepoint’s first official entry into Kenya’s financial services scene. “The transaction is unlikely to negatively impact competition in the market for provision of microfinance banking services in Kenya, nor
Lagos-based health tech company Platos Health raised $1.4 million in a pre-seed round to scale its AI-driven metabolic health platform, Platos Monitor. The startup allows people to monitor their body fat and other health metrics from their homes, according to TechCrunch. Google led the round for Startups with help from Invest International and a group of angel investors from Google, Tesla, and Unicredit. The company will use the funding to roll out its hardware medical-grade device, Plato’s Body Monitor, in Nigeria. What is Platos Health? Platos Health is a preventive
