Author: Samuel Suru

Share At the heart of Lagos’ buzzing innovation ecosystem, thought leaders from the Enterprise Development Centre (EDC), Keystone Bank, MasterCard Foundation, and Tripoint Academy converged to champion a bold message — the future of Nigeria’s economy depends on sustainable, inclusive, and impact-driven entrepreneurship. Held under the powerful theme, “Catalysing the Future: Empowering Small Businesses for Impact and Inclusive Growth,” the 2025 EDC SME Conference wasn’t just another gathering — it was a rallying call for a new generation of entrepreneurs determined to build beyond profit and leave a legacy of transformation. Building Businesses That Build Nigeria Opening the event, Nneka Okekearu, Director of EDC, emphasized that the true strength of a…

For African entrepreneurs and startups, raising capital remains one of the biggest hurdles on the path to growth. Traditional financing channels such as bank loans are often out of reach due to high interest rates, stringent requirements, or limited availability. This is why alternative funding sources—crowdfunding platforms and angel investors—are gaining significant traction across the continent. Both options provide unique pathways to capital, community support, and mentorship. Let’s break down some of the most relevant platforms and networks. Crowdfunding Platforms Crowdfunding allows startups and projects to raise funds by pooling small contributions from a large number of individuals, often through…

On Wednesday, October 22, 2025, the spotlight will turn to Lagos as the first Rural Connectivity Summit (RuralConnect Summit) takes place at the Radisson Blu Hotel. Organised by Business Metrics Limited, the summit carries the theme “Rethinking Digital Connectivity to Unlock Rural Economic Potential” and will convene a cross-section of stakeholders—telecom operators, regulators, policymakers, tech companies, financial institutions, donor agencies, civil society groups, and grassroots representatives. At the heart of discussions are the urgent challenges and opportunities in extending digital access to Nigeria’s rural majority, focusing on themes such as: Innovative infrastructure rollout Policy reforms and financing models Digital literacy and capacity building Cross-sector collaborations…

Share Nigeria’s cocoa industry will take center stage this September when Homto Dokpesi, a leading entrepreneur and exporter, represents the country at the International Africa Trade Fair (IATF) 2025 in Algiers, Algeria. Backed by full sponsorship from the Lagos State Government, Dokpesi will present an impressive range of cocoa-based products—spanning beans, roasted nibs, cocoa butter, cake, and powder—to a global audience of more than 35,000 buyers. Her participation signals a growing push to reposition Nigeria as a global player in agricultural exports. Beyond showcasing products, Dokpesi will join Afreximbank’s industry-focused events, where she will engage with experts and explore opportunities in the fast-evolving international cocoa market. According…

When Emmanuel Onah reflects on his childhood in Kaduna, Nigeria, he remembers elders gathering under the shade of baobab trees to share wisdom, tell stories, and settle disputes. Decades later and thousands of kilometres away, that same spirit of knowledge-sharing is being revived in Edmonton through the launch of the Timbuktu Innovation Hub. The centre officially opened on Alberta Avenue with a vibrant ribbon-cutting ceremony filled with African dance, drumming, fashion, and food. The hub, an initiative of the African Canadian Civic Engagement Council (ACCEC), will provide space for programs focused on business growth, youth empowerment, civic engagement, access to justice,…

PalmPay, a leading African digital bank and financial technology platform, is currently engaged in discussions to raise a significant Series B funding round, which is expected to land between $50 million and $100 million, according to multiple sources knowledgeable about the company’s plans. While the specific valuation sought in this round has not been made public, PalmPay’s most recent fundraising in 2021 already positioned it as one of the continent’s most highly valued startups, hovering just below the coveted billion-dollar unicorn status. Though a spokesperson for the six-year-old fintech declined to comment directly on the ongoing fundraising specifics,…

  In the current volatile investment landscape, Africa’s most valuable technology companies—its unicorns and those soon to join them (soonicorns)—remain firmly in the business spotlight. Their individual successes and inevitable challenges do more than just highlight the continent’s considerable economic potential; they actively shape the ongoing discussions and expectations regarding the future trajectory of the African tech ecosystem. Against this compelling backdrop, this is an ideal moment to shine a light on these billion-dollar enterprises and the highly promising up-and-comers close behind them in valuation. Unicorns in Africa Flutterwave (2021) — $3 billion: Founded in 2018, this highly successful…

Share In the heart of Ikoyi, Lagos, an impactful discussion unfolded—not about stock markets or corporate profits, but about the financial realities Nigerian women face. The annual Piggyvest Finance Roundtable, held in February 2025, became a platform for candid conversations about the persistent gender wealth gap and the challenges women encounter in achieving financial independence. Statistics from the Piggyvest 2024 Savings Report painted a revealing picture. The report, based on a survey of over 10,000 Nigerians, highlighted that men are far more likely to earn over one million naira monthly. While women demonstrate strong entrepreneurial spirit, often leading in business…

LoftyInc Capital, one of Africa’s most prolific investors known for placing early bets on eventual unicorns like Flutterwave, Andela, and Wave, has successfully secured substantial new capital. This fresh injection of funds is earmarked for investing in high-potential startups across the African continent. This successful fundraising comes at a time when funding volume and the number of deals in the African venture capital market saw only a minor decrease last year, according to a report published by the global VC firm Partech. After more than a decade of focusing primarily on pre-seed and seed stage investments, LoftyInc Capital…

Bfree, a technology-enabled debt collection startup based in Nigeria, has successfully secured $2.95 million in fresh funding. The company was founded in 2020 to introduce ethical, automated debt recovery processes after its founders observed the negative impacts of aggressive retrieval techniques, such such as excessive calling and debt-shaming, often employed by predatory digital lenders. The investment round was led by Capria Ventures, a Global South specialist VC firm. Additional participation came from Angaza Capital, GreenHouse Capital, Launch Africa, Modus Africa, Axian CVC, and a number of prominent angel investors. This latest capital infusion brings Bfree’s total funding raised to $6.5…