Author: Samuel Suru

Anchoring the National Sugar Master Plan, Investment Targets 700,000 Metric Tonnes of Local Production Amidst Rising Import Costs Lagos, Nigeria — Dangote Sugar Refinery (DSR) has strategically intensified its long-term commitment to ending Nigeria’s dependency on raw sugar imports, deploying an investment exceeding $700 million into its backward integration program (BIP). This colossal capital outlay is not merely a business expansion; it represents the single most significant private-sector commitment underpinning the government’s National Sugar Master Plan (NSMP), designed to conserve Nigeria’s dwindling foreign exchange (FX) reserves and achieve industrial self-sufficiency. The investment is systematically spread across key areas necessary for complete vertical integration:…

Five successful women founders recently appeared at the Johannesburg Stock Exchange to formally receive over $100,000 in equity-free grant funding. These winners of the Tech FoundHER Africa Challenge, an initiative by Naspers and Prosus, represent a dynamic spectrum of the continent’s innovation economy, spanning everything from AI-powered agricultural solutions in Kenya to critical support platforms for gender-based violence survivors in South Africa. For the embattled South African technology investor, Naspers, this event marked much more than a routine corporate responsibility exercise. It clearly signaled a deliberate strategic redirection following a problematic history that had previously seen its flagship venture fund…

Five successful women founders recently appeared at the Johannesburg Stock Exchange to formally receive over $100,000 in equity-free grant funding. These winners of the Tech FoundHER Africa Challenge, an initiative by Naspers and Prosus, represent a dynamic spectrum of the continent’s innovation economy, spanning everything from AI-powered agricultural solutions in Kenya to critical support platforms for gender-based violence survivors in South Africa. For the embattled South African technology investor, Naspers, this event marked much more than a routine corporate responsibility exercise. It clearly signaled a deliberate strategic redirection following a problematic history that had previously seen its flagship venture fund…

The prominent Nigerian-founded financial technology firm, Moniepoint, which holds the designation of being an African unicorn company, has successfully completed the second and final segment of its Series C funding round. This latest tranche secured an additional USD 90 million in equity financing. The announcement, made on October 21, brings the total capital raised for the comprehensive Series C round to USD 200 million. This follows the initial USD 110 million raised during the previous year, which was the funding event that originally secured the company’s valuation at over USD 1 billion, establishing its unicorn status. The entirety of the…

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, officially announced an €80 million (approximately $92.7 million) financing package to Orange Mali SA on Monday, November 17. The primary purpose of this significant loan is to fundamentally modernize Mali’s telecommunications infrastructure, substantially expand broadband coverage, and enhance nationwide access to crucial digital financial services. This investment marks the first concrete initiative under a broader partnership agreement signed between the IFC and Orange Middle East and Africa (OMEA) at the Africa CEO Forum held in Abidjan in May 2025. The financing structure includes €50 million drawn…

Mozambique and Togo have successfully formalized a landmark Memorandum of Understanding (MoU) on cybersecurity cooperation, strategically aligning their efforts to combat the continent’s rising cyber threats. This agreement was signed on November 17 during the opening ceremony of the first Mozambique International Cybersecurity Week Conference held in Maputo. This bilateral move gains significance in light of accelerated digital transformation across Africa, a context where Interpol estimates financial losses exceeding $3 billion due to cyber incidents between 2019 and 2024. The International Telecommunication Union (ITU) views such cybersecurity investments as absolutely essential for the successful execution of national digital-transformation strategies. The…

Djamo is recognized as one of the specialized digital banking startups focused on serving the large underbanked population across Africa. Unlike many competitors who primarily target massive markets such as Nigeria, Egypt, or South Africa, Djamo has established a distinct and highly successful operating model within Francophone West Africa. Specifically, the company has achieved considerable scale in the Ivory Coast and has recently expanded into Senegal, currently serving a customer base exceeding one million across these two nations. The fintech, which is a graduate of the prominent Y Combinator accelerator program, recently secured $17 million in new equity financing. This…

Last month, as part of the side events at the African Business Angel Network (ABAN) Congress, we witnessed the formal signing of a Memorandum of Understanding (MoU) between the Netherlands Enterprise Agency (RVO) and Lagos Angel Network(LAN) to support the Lagos Angel Fellowship — our flagship program designed to nurture the next generation of angel investors across Africa. The Fellowship was established to deepen professionalism and provide structured, high-quality education for new members of the network. It is being implemented in partnership with the African Angel Academy(AAA). Yesterday, we officially kicked off the Fellowship with an induction program. As I welcomed the new inductees, we explored a topic that has…

Last month, as part of the side events at the African Business Angel Network (ABAN) Congress, we witnessed the formal signing of a Memorandum of Understanding (MoU) between the Netherlands Enterprise Agency (RVO) and Lagos Angel Network(LAN) to support the Lagos Angel Fellowship — our flagship program designed to nurture the next generation of angel investors across Africa. The Fellowship was established to deepen professionalism and provide structured, high-quality education for new members of the network. It is being implemented in partnership with the African Angel Academy(AAA). Yesterday, we officially kicked off the Fellowship with an induction program. As I welcomed the new inductees, we explored a topic that has…

Ventures Platform, a highly active early-stage investment firm based in Lagos, Africa, has successfully closed $64 million so far for its second investment fund. The firm is actively working toward a final target of $75 million, according to information shared by founding partner Kola Aina with TechCrunch. A notable investor in this round is the Nigerian government, contributing through its Investment in Digital and Creative Enterprises (iDICE) program. This contribution is particularly significant because it represents the very first time the Nigerian government has committed capital to a venture capital fund. This landmark investment underscores the strategic importance of Nigeria’s…