Category Archives: Nigeria News

Nigeria News

30 African Startups in Healthcare Supply Chains Selected for Support from Gates Foundation, MSD, WHO-AFRO and More

The i3 program is excited to announce the selection of 30 African startups that are leading the way in innovative health solutions. These startups come from 14 different countries and are working on novel solutions for device and medicine distribution, stock management and financing, authentication, traceability, medical waste management and more. 47% of the companies […]

Bluechip Launches in Europe following Successful pan-African Expansion

Bluechip Technologies CoFounders - Olumide Soyombo and Kazeem Tewogbade

Hires industry expert Richard Lewis to spearhead the new European division Lagos, Nigeria – 8th August 2022, Bluechip Technologies, Nigeria’s leading provider of business application and data management solutions, announces its European launch following growing demand for its products and services. The strategic expansion positions the company as a new competitive entrant in the EU […]

Indirect tax developments in Sub-Saharan Africa

By Jana Botha, VAT Consultant, Baker McKenzie Johannesburg There have been significant developments in indirect tax within Sub-Saharan Africa (SSA) in the past year. The vast majority of developments have been based around VAT amendments and policies, as well as general budget updates for 2022 across SSA. This article includes key developments from Ghana, Kenya, […]

African health tech start-ups in supply chain show promise, prompting launch of $7 million innovator support program

The Pan-African “Investing in Innovation” program will provide grants and commercialization support to 60 healthtech companies over two years. Healthcare consulting firm Salient Advisory has launched its latest market intelligence report highlighting promising African healthtech start-ups in supply chain. Spurred by these findings, a consortium of global and continental organizations, with funding from Bill and […]

Establishing a Highly Competitive Domestic Hydrocarbons Market in Nigeria

Local content regulations and the implementation of the AfCFTA have triggered the creation of a highly competitive domestic hydrocarbons market within Africa’s largest oil producer. Nigeria represents one of the continent’s most mature oil and gas markets as well as the largest oil producer in sub-Saharan Africa. The country’s energy achievements have largely been attributed […]

How tracking methane helps fight climate change

By Antoine Rostand, President and Founder of Kayrros The need to track and reduce greenhouse gas emissions has never been more urgent. According to the IPCC, “without increased and urgent mitigation in the coming years, leading to a sharp decline in greenhouse gas emissions by 2030, global warming will surpass 1.5C in the following decades, […]

Understanding the Metaverse – Africa’s role

By Balkissa Ide Siddo, Director of Public Policy, Africa, Meta Since the start of the twenty-first century, technology has been at the heart of enhancing communication and human contact. The internet has not only enabled people to communicate with family and friends all over the world in real time, but powered businesses and creativity across the […]

The rapid rate of competition law developments across Africa

By Lerisha Naidu, Partner, Angelo Tzarevski, Associate Director, Sphesihle Nxumalo, Associate and Zareenah Rasool, Associate, Competition & Antitrust Practice, Baker McKenzie Johannesburg Baker McKenzie’s latest Africa Competition Report 2022 provides a detailed analysis and overview of recent developments in competition law enforcement and competition policy in 32 African jurisdictions and regional bodies. The Report outlines how, over […]

Data security and privacy laws develop across Africa

Numerous countries in Africa have developed or implemented data privacy and security laws in their countries in the last few years. With the rapid rise in digitisation as a result of the pandemic, the broad implementation of such laws across the continent has never been more urgent. Countries including Ghana, Kenya, Madagascar, Mauritius, Nigeria, Rwanda, […]

Accelerating Nigeria’s 30-30-30 vision with flexible gas-to-power generation will reduce dependence on expensive diesel and generate significant cost savings

Speaking last week at the Smart Energy Forum in Lagos and Abuja in the presence of Nigeria’s top energy decision-makers, senior energy experts from Wärtsilä presented the latest results of an in-depth study that models the most cost-effective and reliable energy mix that can be built each year in Nigeria. Nigeria is the largest and […]

Kippa launches new digital payments product for SMEs in Africa

 Kippa, the fast-growing fintech start-up offering digital business and financial management solutions for SMEs in Africa, today announces the launch of its second product, ‘Kippa Payments’, a digital payments solution enabling users to send and receive payments from customers and perform extended payments transactions automatically. Kippa Payments, which will be available to access within the […]

Ventures Platform Secures First Close of US$40mn Pan-African Fund

Ventures Platform, the early-stage “discovery” venture capital fund championing the next generation of African entrepreneurs, has announced the first close of its new US$40m Pan-African, early-stage fund to invest in market-creating innovations. With this close led by the Nigeria Sovereign Investment Authority (NSIA), the new fund features participation from existing investors and some new leading […]

AFEX launches $100m Food Security Fund

Financing will strengthen Africa’s food security and optimise climate smart innovations across seven countries AFEX, Nigeria’s leading commodities market player, has today announced a new $100m 10-year bond called The Food Security Fund (FSF). The financing will strengthen Africa’s food security and produce three million MT of food annually on the continent. AFEX’s fund will […]

Arnergy Launches Diaspora Initiative For Clean Energy Remittances

Energy startup becomes Africa’s first solar company to launch renewables payment scheme for Nigerians abroad Arnergy, Nigeria’s leading distributed utility company delivering solar energy solutions, has today announced the launch of the Diaspora Initiative – a groundbreaking scheme enabling the global Nigerian diaspora to invest in solar energy solutions on behalf of local individuals and […]

DrugStoc Secures $4.4M in Series A Funding to Expand Access to Quality Pharmaceuticals in Africa

Healthtech startup, DrugStoc has raised USD 4.4 million in Series A funding to expand access to quality medicines while providing sustainable supply chain financing for healthcare providers in Sub-Saharan Africa. The funding round is led by Africa HealthCare Master Fund (AAIC), and other investors include Chicago-based venture firm Vested World and the German Development Bank […]

Operational Challenges and Opportunities for Family-Owned Businesses in a Post-Covid World

By Faizal Bhana – Director Jersey Finance – Middle East, Africa and India. According to Asoko Insight’s FOB500 research, Nigerian family-owned businesses make up 36% of companies within the Economic Community of West African States, (ECOWAS). These businesses have been vital to the socio-economic development of Nigeria and have been instrumental in the region’s back-to-business […]

AFEX predicts higher prices for core grains and advocates for African food balance sheet in new report

Nigerian commodities exchange releases 2021 Annual Crop Production report to boost agricultural data and guide financing and policy decisions Lagos, Nigeria – 2 November 2021. Nigeria’s core grain prices have been projected to trend upwards in the new season due to persistent gaps between commodity supply and demand, according to a new report by commodities […]

Cryptocurrency and herding behaviour

By: Udette Kirsch – behavioural economist & strategic marketing specialist Cryptocurrencies refuse to play by the rules. People rely on experts for all sorts of advice, but when it comes to cryptocurrencies, they seek advice from peers and the internet. So, what causes this behaviour, and what are the implications? Hint: it’s rooted in behavioural psychology. Recent […]

Nigerian Fintech, Brass, Secures $1.7mn Financing Round “to bet on African SMEs”

“Africa’s new bank for startups and SMEs” to expand to South Africa & Kenya following funding Brass, a Nigerian digital bank delivering easy access to affordable premium banking services for small and medium-sized businesses (SMEs), has today secured $1.7mn in funding to address the heavily underserved banking needs of local entrepreneurs, traders and fast-growing businesses. […]

Resilience is the mother of all virtues… and the key to unlocking successful independent power projects in Nigeria

By Nicolas Mathon, Director, Project Development, Africa and Europe, Wärtsilä Energy The successful completion of the Azura Edo 450 MW gas-fired power project in 2016 was hailed at the time as setting the blueprint for future independent power projects in Nigeria. The $900 million plant, which gathered 20 international banks and equity financing partners from more than […]

New global tax rules will help address imbalances in tax revenue in Africa

By Denny Da Silva, Associate Director, Tax, Baker McKenzie, Johannesburg One hundred and thirty six of the 140 members of the OECD G20 Inclusive Framework, including South Africa, have agreed on a new set of global tax rules that will reform the world’s tax system. Notably, two African countries that are members of the Inclusive […]