Author: Gift Ifeanyi

A Nigerian entrepreneur recently shared a troubling account: when seeking a loan to expand her business, her bank demanded both her home as collateral and 30% of the loan amount in cash—despite her property’s value far exceeding the loan. With interest rates on overdrafts as high as 33%, she’s given up on scaling. This is not an isolated case, but a reflection of the harsh financial climate facing many African businesses. Behind this lies a deeper issue: global media narratives that reinforce outdated stereotypes about Africa—portraying it as a land of risk, conflict, and instability. These perceptions, though largely inaccurate,…

In a major shift for Nigeria’s digital financial ecosystem, thirteen commercial banks have fully settled their outstanding debts for Unstructured Supplementary Service Data (USSD) services owed to Mobile Network Operators (MNOs). The remaining three banks are close to finalizing their payments, having cleared over 95% of their dues. This resolution sets the stage for the nationwide adoption of a new billing model that charges customers directly from their airtime balance. This was disclosed by Engineer Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), during an ‘ASK the Exec’ virtual session hosted by MTN Nigeria. The…

The Bank Customers Association of Nigeria (BCAN) has raised fresh concerns over unauthorized deductions from customer accounts, revealing that it has formally petitioned the Central Bank of Nigeria (CBN) to intervene. The disclosure was made by BCAN President, Uju Ogubunka, at the 2025 Artificial Intelligence Conference hosted by SuperNews under the theme “Power of AI: Enhancing Efficiency and Customer Satisfaction for Better Financial Services Experience.” Ogubunka criticized the ongoing migration to the end-user billing model for unstructured supplementary service data (USSD), stating that the deductions fall outside the scope of CBN-approved bank charges. He stressed that if the central bank…

The 28th St. Petersburg International Economic Forum (SPIEF 2025) has emerged as a pivotal moment for Russia-Africa relations, as high-level African delegations joined over 20,000 global participants in a powerful display of economic dialogue, partnership-building, and multilateral cooperation under the theme: “Shared Values: The Foundation of Growth in a Multipolar World.” Held in Russia’s second-largest city, SPIEF 2025 offered African leaders, entrepreneurs, and innovators an influential platform to explore trade opportunities, deepen bilateral ties, and contribute to shaping a new global economic order. The forum underscored Russia’s ambition to position itself as a reliable partner for African nations amid shifting…

As Nigerian businesses grapple with economic pressures, rising operational costs, and disjointed workflows, a powerful new tool is emerging to help them adapt—without the need for developers or complex software. Byte Cognetics, a Nigerian tech firm led by Founder and CEO Peter Ukonu, has launched Antly, Africa’s first No-Code AI Work Operating System (Work OS), aimed at transforming how organizations function. Antly is designed as an all-in-one, modular platform that enables businesses to automate tasks, manage operations, and centralize communication, all without writing a single line of code. Built specifically for African enterprises, the system supports a wide range of…

The Development Bank of Nigeria (DBN) has taken a bold step in accelerating innovation among Micro, Small, and Medium Enterprises (MSMEs) with the disbursement of N13 million in grants to three standout startups during the 2025 Techpreneur Summit held in Lagos. The winners—BuyScrap, Qiqi Farms, and Eco-Cyclers—emerged for their groundbreaking solutions in digital recycling, agriculture, and environmental sustainability. BuyScrap received the top prize of N6 million for its digital marketplace that connects recyclers with buyers. Qiqi Farms secured N4 million for its platform that links local farmers to hospitality and export markets, while Eco-Cyclers, an Enugu-based youth-driven recycling venture, was…

Aba Power, Nigeria’s newest electricity distribution company, is spearheading a bold initiative to assemble smart electricity meters in Aba, Abia State, through a partnership with four local and international firms. The effort is set to create up to 35,000 jobs, conserve foreign exchange, and fast-track Nigeria’s metering progress. This development was disclosed by Mrs. Agatha Nnaji, Group Managing Director of Geometric Power, during a visit by the Abia State House of Assembly Committee on Power and Public Utilities to the company’s headquarters in the Osisioma Industrial Layout. “By assembling the meters locally, we are creating thousands of jobs, conserving foreign…

Under 40 CEOs, Africa’s premier platform for nurturing and celebrating young business leaders, has commemorated its 10th anniversary with the launch of Volume 2 of its flagship book series, How We Made It in Africa. The event, held in Lagos, gathered a dynamic mix of entrepreneurs, thought leaders, and members of the platform’s vibrant community. Launched in 2015 as a television series, Under 40 CEOs has evolved into a far-reaching initiative that blends mentorship, funding, capacity building, and networking. It currently spans four African countries and has impacted over 1,000 emerging executives. A Decade of Stories, A Lifetime of Lessons…

Premium Times Services Limited, publisher of one of Nigeria’s leading investigative newspapers, is set to host the first edition of its Employability Summit on Thursday, June 19, in collaboration with Business School Netherlands (BSN), 7Up Bottling Company, and The SME Scale Up. Themed “Converting Nigeria’s Demography into Assets,” the summit will take place at Radisson Blu Anchorage Hotel, Victoria Island, Lagos, and is designed as an annual platform to drive bold solutions to the country’s mounting unemployment crisis, especially among the youth. Shaping the Future of Work in Nigeria With a growing population of young, energetic Nigerians, the summit aims…

The Presidential Enabling Business Environment Council (PEBEC) has announced a nationwide sensitisation tour, set to begin on June 23, aimed at fast-tracking reforms that improve the ease of doing business across Nigeria. According to Zahrah Mustapha-Audu, PEBEC’s Director-General, the tour will include technical sessions and town hall meetings, creating interactive platforms where business owners, investors, and the public can engage directly with government officials. Stakeholders will have the opportunity to share challenges, suggest reforms, and collaborate on solutions to enhance Nigeria’s business climate. “The goal is to foster a more conducive business environment that attracts investment and drives inclusive economic…

Ibrahim Mohammed, a member of the House of Representatives representing Birnin Kebbi/Kalgo/Bunza Federal Constituency, has introduced two legislative bills seeking the creation of two federal institutions in Kebbi State: The Federal College of Entrepreneurship and Skills Acquisition in Bunza The National Institute for Technical and Vocational Education in Kalgo These proposals aim to address rising youth unemployment and enhance access to skills-based education and training. Ahead of a public hearing at the National Assembly scheduled for Thursday, the lawmaker emphasized the significance of these institutions in creating sustainable opportunities for young Nigerians. “Kalgo and Bunza will become centres of excellence…

At the 2025 Africa Gas Innovation Summit (AGIS) held in Abuja, leading voices in Africa’s oil and gas sector—including the African Petroleum Producers’ Organisation (APPO) and Nigeria LNG (NLNG)—issued urgent calls for increased investment in pipeline infrastructure, warning that the continent’s massive gas reserves risk remaining untapped. A Continent Rich in Gas, Poor in Pipelines APPO Secretary General Omar Farouk stressed that despite Africa’s 600 trillion cubic feet of proven gas reserves, lack of infrastructure—particularly pipeline networks—continues to strand these resources. “Nigeria has only about 7,000km of gas pipelines, compared to France’s 37,000km, even though Nigeria has nearly four times…

The Securities and Exchange Commission (SEC) has issued a public warning against two digital assets—Zugacoin (including its variants SZCB and SZCB2) and Samzuga GPT—declaring them unlicensed and unauthorized for operation or trading within Nigeria’s capital market. In a statement released on Wednesday, the commission emphasized that the issuers and promoters of these cryptocurrencies are not registered to operate in any capacity and have not received SEC approval for public issuance or investment activities. SEC Labels Zugacoin and Samzuga GPT as Meme Coins Following an internal review, SEC classified both Zugacoin and Samzuga GPT as meme coins—a class of digital tokens…

At just 26 years old, Adaugo Godsgift Ezeala is redefining Africa’s digital commerce landscape. In 2024, she co-founded SokoSQ, an AI-powered platform revolutionizing how small businesses sell, operate, and grow in a digital-first economy. As Chief Operating Officer of SokoSQ, Adaugo leads product innovation, growth strategy, and market expansion. In a region where more than 80% of SMEs still rely on informal or semi-digital sales methods, SokoSQ provides an end-to-end digital business solution—offering instant online stores integrated with Instagram, WhatsApp, and offline channels. The platform also features inventory tracking, marketing automation, business intelligence, and sales analytics—all optimized for ease of…

Nigerian fintech startup Hizo has secured $100,000 in seed funding from a Friends and Family round led by a prominent local angel investor. The round, which officially closed on June 4, 2025, marks a pivotal step in Hizo’s mission to simplify intra-African money transfers, enabling users to send, receive, and spend local currencies seamlessly across borders. A Pan-African Payment Vision While most remittance platforms focus on funds flowing into Africa from Western countries, Hizo is solving for the often-ignored intra-African financial ecosystem. “Cross-border transactions within Africa are typically routed through foreign currencies like the U.S. dollar,” explained Victor Chiedu, CEO…

Entrepreneurship is a cornerstone of sustainable economic development, fueling innovation, job creation, and community upliftment. In Akure, Nigeria, The Hive Incubator is championing this cause from the ground up—empowering emerging entrepreneurs with the tools, mentorship, and capital needed to turn ideas into thriving businesses. A Different Kind of Incubator Unlike traditional incubators clustered in major cities, The Hive is rewriting the script by anchoring its operations in Akure, a region often overlooked by the broader startup ecosystem. But this isn’t just about location—it’s about democratizing access to entrepreneurship support. What sets The Hive apart? Six-month structured incubation program Access to…

A new full-service commercial law firm, Abe & Asotie LP, has been launched in Lagos, Nigeria, with bold ambitions to transform Africa’s legal landscape. Founded by seasoned legal practitioners Joshua Abe and Theokalus Asotie, the firm officially opened its doors on June 11, 2025, with a mission to deliver high-impact legal solutions and redefine the role of law in business and society. Strategic Legal Offering Rooted in Diverse Expertise Operating from the Lagos Court of Arbitration building, Abe & Asotie LP will offer a comprehensive suite of services that includes: Dispute resolution (litigation, arbitration, mediation, negotiation) Banking and finance Energy,…

Afri Invoice, the first invoicing SaaS platform designed by Africans for African businesses, is officially launching this month to empower local entrepreneurs ahead of the Federal Inland Revenue Service (FIRS) July 2025 e-invoicing deadline. Founded by British-Nigerian serial entrepreneur Mark Odenore, the platform is built to simplify digital invoicing, tax compliance, and secure payment tracking, offering a tailored, scalable solution for African SMEs navigating a rapidly digitizing economy. “We’re not just witnessing the future of African tech—we’re building it,” said Odenore. “Afri Invoice solves real problems with practical, accessible tools made specifically for our people and our businesses.” Designed for…

The Nigeria Employers’ Consultative Association (NECA) has called for more inclusive economic reforms that directly support private sector growth and national development. This appeal comes ahead of its highly anticipated Employers’ Summit set for June 25–26, 2025, in Abuja. At a press briefing, Adewale Smatt-Oyerinde, NECA’s Director-General, emphasized the need for stronger alignment between government policies and private sector realities. Themed “Enabling Sustainable Enterprise in a Transitioning Economy: Aligning Fiscal, Trade, and Regulatory Reforms for Inclusive Development,” the summit seeks to address the structural challenges facing businesses and the Nigerian economy.  Mismatched Policies Hindering Progress Smatt-Oyerinde pointed out that while…

Lagos, Nigeria is set to host one of the continent’s most impactful professional gatherings this June—the African Workforce Summit (AWS) 2025, a groundbreaking two-day event dedicated to reshaping the future of work in Africa. Taking place from June 27–28, 2025 at the Sheba Event Center, AWS is proudly headlined by Sycamore.ng and convened by HR visionary Joel Babatunde Moses (OgaHR). AWS 2025 isn’t just a summit—it’s a movement to catalyze transformation across business, technology, media, and human capital.  What to Expect at AWS 2025 Keynotes & Expert Panels Engage with top industry leaders and trendsetters including: Babajide Duroshola – General…