General
Wefarm Gets $13m for Smallholder Agricultural Ecosystem
About $13 million has been raised by the digital network for global small-scale agriculture, Wefarm, to assist the company further scale its network of 1.9 million farmers, and its newly created Marketplace, to connect farmers in Africa, even those without internet access, to the information, products and services they need to be more successful.
The funding package mainly came from Silicon Valley venture capital firm, True Ventures, with support from AgFunder and June Fund, among others.
Founded in 2015, Wefarm is on a mission to create a global eco-system for small-scale agriculture. With more than one billion people directly involved in small-scale farming, it is the biggest industry in the world. Wefarm is building the network of trust for those farmers.
Wefarm Marketplace allows farmers to easily access quality products and services, such as seeds, fertilizers and a range of other non-agricultural items from trusted retailers and brands. In line with Wefarm’s bottom-up model, all products, services and retailers on the platform have been recommended by Wefarm users and can even be purchased through SMS.
Disproportionally, smallholder farmers lose too much time and money due to fake or faulty agricultural products. Farm yields in many parts of Africa are just one-fifth of farm yield in the United States or Europe. Poor-quality seeds and fertilisers also limit growth in plants and animals. Given that smallholder farmers grow roughly 70 percent of the world’s food, Wefarm intends to use its technology to help close this yield gap.
The company’s funding announcement coincides with another notable growth milestone of reaching $1 million in total sales from the Wefarm Marketplace in just eight months since launch; that’s faster growth than both Amazon and eBay in their early stages.
With Marketplace sales growing at more than 40 percent month on month, the business is on a rapid growth trajectory. Over the next 12 months it aims to diversify into supporting farmers with both financing and delivery, as well as enabling them to trade the commodities and crops they grow, with the goal of becoming a key part of the global supply chain on behalf of the farmer.
Wefarm CEO and Founder Kenny Ewan believes the platform’s Marketplace will grow into an expansive ecosystem for smallholder farmers.
“If we can inspire 100 million farmers to work together on one platform, we can fundamentally shift global agriculture and trade in their favour, and this round of funding will take us even closer to bringing this vision for improved farm yields into fruition,” said Ewan. “It’s about harnessing AI to champion human intelligence. Our network of trust empowers farmers to find solutions to problems by knowledge sharing. In tandem, the marketplace will give them access to first-rate products that help to deliver better produce. The combination of the two has limitless potential to influence and fight the major agricultural crisis we face.”
“We are enormously inspired by how Kenny and the Wefarm team have empowered the world’s farmers, and we see great potential for their future,” said Jon Callaghan, co-founder of True Ventures. “The company is not only impact-driven, but the impressive growth of the Wefarm Marketplace demonstrates exciting commercial opportunities that will connect those farmers to more of what they need to the benefit of all, across the food supply chain. This is a big, global business.”
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The latest in its series of groundbreaking achievements is the acceptance of Verve cards on AliExpress, one of the world’s largest online retail platforms, unlocking new possibilities for cardholders. Abeg comot for road, Verve don enter AliExpress way!
This isn’t just a win for Verve; it’s a win for millions of its cardholders who can now explore a vast array of products on AliExpress while enjoying the security and reliability they’ve come to trust in Verve. This partnership marks another giant leap in Verve’s mission to establish itself as a global payment powerhouse.
Over the years, Verve has forged strong alliances with renowned global brands such as Google, YouTube, Netflix, Amazon Prime, Facebook, Uber, Facebook, Spotify, among others, enabling Verve cardholders to make seamless payments for subscriptions in Naira.
This partnership with AliExpress further demonstrates Verve’s commitment to empowering its customers with access to seamless digital payments and world-class services to meet their evolving needs. Whether you’re looking to upgrade your tech gadgets, refresh your wardrobe, or find unique items for your home, AliExpress offers diverse possibilities, and Verve has made it easier than ever to shop and pay!
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- Sign in to your AliExpress account.
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The Naija’s Agba and Odogwu card is a perfect example of the saying, ‘the light that shines farthest shines brightest at its base!’ While Verve is making waves and securing global wins, it’s also spreading joy right here at home!
Through the ongoing Verve GoodLife Promo 5.0, Verve is offering incredible rewards and benefits to its cardholders. Verve cardholders are enjoying up to 10 per cent cashback or discount for every transaction made at participating outlets, including Google, NNPC Retail, Addide, The Place Restaurants, Sweet Sensation, Chowdeck, BuyPower, and Market Square.
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By Modupe Gbadeyanka
About 6,000 jobs have been created, with $379 million collectively raised by startups owned by entrepreneurs who have passed through the Black Founders Fund (BBF) of a tech giant, Google.
Google created the BBF initiative to empower startup owners of African origin. This programme has helped to drive innovation, job creation and business expansions because of the grants received from the sponsor of the scheme.
On Tuesday, past participants of the initiative were at iHub in Nairobi, Kenya, for the Black Founders Fund Alumni Summit, where the organisers unveiled the BFF Impact Report to highlight the significant progress and success of Black-led startups across Africa.
This annual event brought together 45-50 alumni from across the continent including Kenya, Nigeria, South Africa, and Uganda to celebrate their achievements and discuss the future of Africa’s digital economy.
The BFF Impact Report offers a comprehensive look at the remarkable impact that targeted support for Black entrepreneurs has had on the African tech ecosystem.
The report revealed that BFF-supported startups have collectively raised $379 million, created more than 6,000 jobs, and experienced 61% faster growth than their peers, underscoring the importance of strategic investment in fostering sustainable innovation.
Through non-dilutive funding, mentorship, and networking, the Black Founders Fund has empowered entrepreneurs to overcome barriers, scale their businesses, and contribute to Africa’s digital transformation. The BFF Impact Report demonstrates the pivotal role of the program in strengthening the continent’s startup ecosystem, enabling businesses to compete globally and attract significant investment.
“The Black Founders Fund is not just about financial support—it’s about creating an ecosystem of innovation, job creation, and opportunity.
“The BFF Impact Report reflects the incredible progress Black entrepreneurs have made, and how the right resources can empower them to lead Africa’s digital future. The impact we are seeing today will set the stage for an even more vibrant African tech landscape tomorrow,” the Country Director for West Africa at Google for Startups, Olumide Balogun, remarked.
“This report is a celebration of the incredible work being done by Black founders across Africa. The BFF Impact Report proves that, when we invest in these entrepreneurs, we’re not only helping individual startups, but we’re driving systemic change within the broader African tech ecosystem,” the Head of Startup Ecosystem for Africa at Google, Mr Folarin Aiyegbusi, also stated.
In addition, the Black Founders Fund Manager Europe at Google for Startups, Mariama Boumanjal, said, “The BFF Impact Report proves that with the right support, Black founders can not only overcome these challenges—they can lead the way in innovation, job creation, and economic development.”
Business Post reports that through non-dilutive funding, mentorship, and an expansive network, the BFF has empowered over 220 startups, enabling them to scale faster and break down these barriers.
By Adedapo Adesanya
After years of laying fallow, the Port Harcourt Refinery began producing and distribute petroleum products Premium Motor Spirit (PMS) or petrol, Automotive Gas Oil (AGO) or diesel and Household Kerosene (HHK) or Kerosene.
This development has raised expectations regarding Nigeria’s other three refineries not yet operational. These include the second refinery in Port Harcourt as well as the Warri and Kaduna Refinery.
The reactivation of these facilities, according to energy analysts, will help push out more supply of petroleum products, which may help cut down high prices that Nigerians pay while also making the country self-sufficient.
The newly operational refinery was built in 1965 and Port Harcourt II was added in 1989, increasing capacity by 150,000 barrels per day, making the total capacity of the Port Harcourt complex 210,000 barrels per day.
The Warri Refinery was built in in 1978 and is supposed to have an upgraded capacity up to 125,000 barrels per day and the Kaduna Refinery, which was commissioned in 1980, was designed with a capacity of 110,000 barrels per day.
Speaking during a brief ceremony to mark the commencement of products loading at the refinery on Tuesday in Port Harcourt, the Group CEO, Mr Mele Kyari described the commencement of the loadout activities as a monumental achievement for Nigeria which signifies a new era of energy independence and economic growth for the country.
The GCEO further thanked Nigerians for their patience and for the legitimate expectations on the Company to deliver on the other refineries.
Meanwhile, President Bola Tinubu on Tuesday extended his heartfelt congratulations to the NNPC on the successful revitalization of the Port Harcourt refinery and charged the NNPC Limited to expedite the scheduled reactivation of both the second Port Harcourt refinery and the Warri and Kaduna refineries.
He said these efforts will significantly enhance domestic production capacity alongside the contributions of privately-owned refineries and make our country a major energy hub, with the gas sector also enjoying unprecedented attention by the administration.
The President underscores his administration’s determination to repair the nation’s refineries, aiming to eradicate the disheartening perception of Nigeria as a major crude oil producer that lacks the ability to refine its own resources for domestic consumption.
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