By Adedapo Adesanya

Madica, a structured investment programme for pre-seed African startups, has announced new investments totalling $600,000 in three tech-enabled startups, including Nigerian data startup, Biovana.

According to the initiative, these investments further reinforce Madica’s commitment to supporting founders and startups often excluded from traditional venture funding. The other startups include Tanzania’s Kilimo Fresh and Kenya’s Hakimu.

Each company has secured up to $200,000 in funding and will take part in Madica’s 18-month programme. This includes a tailored curriculum, hands-on mentorship, executive coaching, and two fully funded immersion trips to key technology ecosystems, both locally and internationally. The startups will also gain access to Madica’s global investor network, helping position them for growth and long-term success.

Madica’s programme seeks to counter the concentration of Africa’s tech funding in a few markets, verticals, and well-networked entrepreneurs and instead drive more equitable growth across the continent. This is done by backing a mix of underrepresented founders, startups from underserved regions, and innovators in overlooked sectors.

Launched in 2022, Madica is a sector-agnostic investment program designed to address structural gaps in Africa’s startup ecosystem. The program tackles key challenges startups face, such as limited access to capital, a scarcity of investors, and insufficient mentorship. It also provides the structured support necessary for startups to resolve critical issues and foster innovation, entrepreneurship, and wealth creation across the continent.

Kilimo Fresh (Tanzania), co-founded by Ms Baraka Chijenga and Mr Justice Mangu, connects smallholder farmers in Tanzania to reliable urban markets by aggregating, processing, and distributing fresh produce through a technology-enabled supply chain, aiming to reduce food waste.

Hakimu (Kenya), Hakimu, co-founded by Ms Rawan Dareer, Mr Ahmed Ahmed and Mr Ahmed Elbashir, is building a pan-African legal infrastructure leveraging the power of AI.

Biovana (Nigeria), co-founded by two female founders, Ms Estelle Dogbo and Dr Jumi Popoola, is a data harmonisation and certification platform focused on unlocking African health datasets for global pharmaceutical, AI, and clinical research applications.

Commenting on the new portfolio companies, Mr Emmanuel Adegboye, Head of Madica, said, “Each new investment brings us closer to the portfolio we set out to build, one that reflects the full breadth and diversity of African entrepreneurship. These three startups join a growing community of founders we’re backing with the resources, relationships, and runway they need to succeed at this early stage. The opportunity across the continent is enormous, and we’re committed to being a crucial and consistent partner in realising it.”

“Joining the Madica portfolio is a significant moment for Hakimu. We’re revolutionising access to justice across Africa, and having a partner that understands the specific challenges and opportunities of scaling in Africa makes a real difference,” said Ms Dareer, co-founder and CEO of Hakimu. “We’re grateful for the trust, looking forward to the hands-on support, and clear-eyed about the work ahead.”

By Adedapo Adesanya

President Bola Tinubu is expected to be among the leading public figures attending the next edition of the Africa CEO Forum, which will take place on May 14-15, 2026, in Kigali, Rwanda

A strong Nigerian private-sector delegation will also take part, including Mr Aliko Dangote, Mr Wale Tinubu, Mr Ofovwe Aig-Imoukhuede, Mrs Adesuwa Ladoja, Mrs Rachel More-Oshodi, Mrs Zouera Youssoufou, Mr Karim Noujaim, Mr Dany Abboud, Mr Ayo Otuyalo and Mr Chukwuerika Achum. Nigeria’s Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, will also be present.

According to a statement on Tuesday, the 2026 edition will convene in Kigali to address a defining question for Africa’s future: how to achieve the scale necessary to compete, integrate and thrive in a fragmenting world.

It comes as global power dynamics continue to evolve, while the ability of Africa to rely on competitive, agile and internationally integrated corporate champions has become a defining corporate imperative. In this shifting global landscape, one lesson is clear: scale is no longer optional. It is the first line of defence.

Organised by Jeune Afrique Media Group and co-hosted by the International Finance Corporation (IFC), the Africa CEO Forum 2026 will convene Africa’s leading public and private decision-makers around a clear conviction: scale can only be achieved through shared African ownership.

The Forum will explore three strategic levers to build continental scale. First is shared equity, which will look to unlock cross-border equity investment to create multinational African champions. Mobilise African institutional capital across markets to strengthen resilience and enhance long-term returns.

Also, is shared infrastructure, which will take on designing complementary infrastructure to integrate African value chains. Champion transformative projects that serve regional, not merely national, needs and create truly connected markets.

Thirdly is shared frameworks, which is set to harmonise standards, rules and regulations to boost investor confidence and enable the free flow of capital, goods and services. Build future-proof digital rails for health, education, agriculture and cross-border payments.

Speaking on this, Mr Amir Ben Yahmed, President of the Africa CEO Forum, stated: “If Africa wants to compete in a world defined by scale, it must move beyond economic patriotism and embrace a new model: African capital investing together. Shared ownership, cross-border partnerships and continental ambition will define the economic future of Africa and the next generation of African champions.”

On his part, Mr Makhtar Diop, Managing Director at IFC, stated: “Africa has the capital and the opportunity to grow and create quality jobs. What matters now is putting that capital to work at scale. That means building trust, sharing risk, and investing across borders. The Africa CEO Forum brings leaders together to connect policy and private investment, and to help shape Africa’s next phase of growth.”

By Adedapo Adesanya

The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, has directed the Nigerian Shippers’ Council (NSC) to investigate the allegations of systemic efforts to undermine local barge operators at the nation’s seaports.

The Minister issued the directive during the recent 2026 First Quarter Citizens/Stakeholders’ Engagement, Sectoral Performance Review, and Ministerial Management Retreat of the Federal Ministry of Marine and Blue Economy, held in Lagos.

During the engagement, representatives of barge operators alleged that there was a coordinated and deliberate attempt by certain foreign interests to edge them out of business.

According to the Special Adviser to the Minister, Mr Bolaji Akinola, they claimed that these actions, if left unchecked, could significantly weaken local capacity and disrupt the balance of competition within Nigeria’s maritime logistics chain.

The operators expressed concern that policies, operational bottlenecks, and preferential treatment allegedly being accorded to some foreign-linked entities by certain terminal operators were creating an uneven playing field.

According to them, these challenges are gradually eroding their market share and threatening the survival of indigenous businesses.

Responding to the concerns, the minister emphasised the federal government’s commitment to protecting local investments and ensuring fair competition within the maritime industry.

He directed the council, as the port economic regulator, to carry out a thorough and impartial investigation into the claims.

Mr Oyetola stressed that any form of anti-competitive behaviour or policy inconsistency that disadvantages Nigerian businesses would not be tolerated.

The minister also reiterated the importance of stakeholder engagement as a platform for identifying sectoral challenges and shaping responsive policy interventions, stressing that the government remains focused on strengthening the marine and blue economy sector as a driver of national growth, job creation, and sustainable development.