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🔋 Nigeria and WeLight launch $200 million renewable mini grid project to electrify rural communities
🌍 Equator raises $55 million for fund to support early-stage climate tech startups in Africa
🧑🏽💻 Revolut sets sights on South Africa's digital banking market
💸 Flutterwave secures approval to offer inward remittance services in Ghana
📱TikTok Unveils New Parental Controls and Wellness Tools to Protect Teens
💼 Former Kobo360 CEO Cikü Mugambi joins Dutch investment firm DOB Equity |
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| | | | | If you haven't subscribed, join over 7,000 people curious about Innovation, New Products, New Technologies in Africa. | |
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| | | | | 🔋RENEWABLE ENERGY | Nigeria and WeLight launch $200 million renewable mini grid project to electrify rural communities | | Nigeria has entered into a significant agreement worth $200 million with WeLight, a pan-African Distributed Renewable Energy (DRE) company, to implement a network of renewable mini grids. This initiative is designed to deliver reliable electricity to millions of residents in rural communities and those living in the outskirts of urban centers. | As Africa's most populous nation, Nigeria is actively working to increase the share of renewable energy in its electricity mix from the current 22% to an ambitious target of 50%. This deal is viewed as a crucial step toward achieving that goal, while also attracting private investment to support the transition.....…continue reading |
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| | | | | 📍Register for your PMP exam training here | | Join the next cohort as we start the PMP certification exam training on the 15th March 2025. | Register now by clicking here |
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| | | | | 🌍 FUNDING | Equator raises $55 million for fund to support early-stage climate tech startups in Africa | | Equator, a venture capital firm focused on Africa, has successfully raised $55 million for its inaugural fund dedicated to supporting early-stage climate tech startups across the continent. This fund aims to address the unique challenges faced by companies working to combat climate issues, particularly those that struggle to secure early-stage funding. | Equator plans to invest in 15 to 18 startups, providing between $750,000 and $1 million to seed-stage companies and up to $2 million for those in Series A funding rounds. Beyond financial support, Equator aims to assist startups in enhancing their business models, governance structures, and regional growth strategies. The firm also intends to support follow-on funding rounds and facilitate co-investments from its backers.....…continue reading |
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| Your job called—it wants better business news | | Welcome to Morning Brew—the world's most engaging business newsletter. Seriously, we mean it. | Morning Brew's daily email keeps professionals informed on the business news that matters, but with a twist—think jokes, pop culture, quick writeups, and anything that makes traditionally dull news actually enjoyable. | It's 100% free—so why not give it a shot? And if you decide you'd rather stick with dry, long-winded business news, you can always unsubscribe. | Check it out | | | | | | 🧑🏽💻 DIGITAL BANKING | Revolut sets sights on South Africa's digital banking market | | Revolut, a leading neobank with a remarkable valuation of $45 billion, has announced its plans to investigate potential opportunities in South Africa's dynamic digital banking landscape. A spokesperson for the company commented, "South Africa is a market we are evaluating, and one we see as attractive, with the potential to offer a unique value proposition to customers in the future. However, we are quite early in the process." This statement underscores that while Revolut acknowledges the promising prospects within the South African market, it remains in the initial phases of formulating its strategic approach. | To bolster its efforts in this new market, Revolut appointed Tom Morrison as the Head of Strategy & Operations for South Africa three months ago. However, since this appointment, the company has not advertised any additional positions specific to South Africa, suggesting that its local strategy is still in the formative phase.........…continue reading |
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| | | | | 💸 REMITTANCES | Flutterwave secures approval to offer inward remittance services in Ghana | | Flutterwave, recognized as Africa's foremost payments technology company, has recently received approval from the Bank of Ghana to offer inward remittance services in Ghana. This significant development underscores Flutterwave's unwavering commitment to streamlining payment processes and unlocking a multitude of opportunities across the African continent........…continue reading |
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| | | | | 💼 APPOINTMENTS | Former Kobo360 CEO Cikü Mugambi joins Dutch investment firm DOB Equity |  | Cikü Mugambi |
| Cikü Mugambi has joined DOB Equity, a private equity fund based in the Netherlands that focuses on investments in East Africa, just months after stepping down from her position as CEO of Kobo360, a logistics startup. According to her LinkedIn profile, Mugambi has been with the Dutch family office for a month, serving as an investment director. | In a LinkedIn announcement, DOB Equity expressed its enthusiasm for Mugambi's appointment, stating, "DOB Equity is delighted to welcome Cikü Mugambi as our new Investment Director. Cikü brings 15 years of investment and operational experience across Africa, with a strong track record of deploying capital into high-impact businesses.".....…continue reading |
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| | | | | 📱SOCIAL MEDIA | TikTok Unveils New Parental Controls and Wellness Tools to Protect Teens | | As social media continues to shape the way young people connect, learn, and express themselves, TikTok is taking further steps to ensure a safe and balanced experience for teens. The platform has announced a series of new Family Pairing features that provide parents with more control over their teens' screen time, content interactions, and overall digital habits. Additionally, TikTok is introducing a wind-down feature designed to help teens reduce nighttime screen use and encourage healthier digital habits......…continue reading |
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| | | | | OTHER STORIES | Uber Kenya unveiled Uber One, a new membership programme that offers fee-paying members discounts on rides and deliveries……continue reading IvoryPay secures investment from Hedera to enhance blockchain payment solutions across Africa…….continue reading Nissan appoints Ivan Espinosa as new CEO amidst management overhaul and ongoing challenges…..continue reading d.light joins DARES programme to boost renewable energy access for 17.5 million Nigerians…..continue reading Ghanaian fintech Nsano expands into East Africa with new office in Rwanda……..continue reading
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Innovation Village |
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