By Modupe Gbadeyanka

Some beneficiaries of late customers of AXA Mansard’s life insurance policies were showed love on Friday, February 14, 2025, as part of its commitment to being more than just a payer of claims, but a partner for life, standing by its customers through good and challenging times.

The leading insurance company in the country engaged the services of a renowned Nigerian actor, Lateef Adedimeji, to reach out to the families of its dead customers on Valentine’s Day through an initiative known as the PartnerforLife Campaign.

The campaign kicked off with visits to women who had recently lost their husbands. These grieving widows received heartfelt gifts and personal messages from the chief executive of AXA Mansard, Mr Kunle Ahmed, reinforcing the message, “We are your partner for life.”

This kindness provided comfort and support during a difficult time, showing that AXA’s care extends beyond the policyholder to their loved ones.

Next, AXA celebrated moments of joy by visiting new mothers who had recently welcomed twins. These mothers were not only surprised with gifts but also received personal letters emphasizing AXA’s enduring promise of partnership.

The mothers expressed their gratitude for the seamless and reassuring experience provided by AXA’s health insurance services, making their journey into motherhood a little easier.

Adedimeji Lateef’s presence added a special touch to these visits. His involvement brought an extra layer of warmth and excitement, turning a thoughtful gesture into an unforgettable experience. His smiles and joy to the recipients highlighted the campaign’s success in creating memorable moments.

AXA Nigeria’s Chief Marketing Officer summed it up perfectly: “At AXA Nigeria, we understand that life is a mix of ups and downs. We want to be there for our customers through all of it. From the first day they choose to partner with us to every moment that follows, we are committed to being their ‘Partner for Life.’

“This Valentine’s Day, through acts of kindness, love, and support, we reinforced this promise. We are here for all the moments; we are here through the tough times, providing comfort, stability, and the reassurance that, no matter what, they are not alone.”

As AXA Nigeria moves forward, its focus remains on creating experiences that touch the hearts of its customers. Whether through thoughtful gestures or the consistent reliability of its services, AXA’s commitment to being a true partner for life is unwavering. This Valentine’s Day, it showed up for its customers in a meaningful way, and it will continue to do so.

Temu has won over many consumers in Nigeria in its first 100 days with its blend of quality products at affordable prices, made possible by its direct-from-factory model that reduces middleman costs.

Since its launch in Nigeria last November, Temu has seen strong consumer uptake. Offering a wide range of products from electronics to home goods and sporting equipment, the online marketplace makes it easier than ever for Nigerians to find great deals and upgrade their lifestyles without spending a fortune.

Temu’s popularity is part of the explosive growth in Nigerian e-commerce, where industry revenues are projected to climb 7.81% from a year ago to US$7.43 billion in 2025, while user numbers are estimated to rise 15% to 28.6 million by 2029.

Temu Fans

Precious Ntuko, a Lagos-based digital creator and mother, is among the many early users who couldn’t wait to try Temu once the direct-from-factory marketplace launched in Nigeria. 

Ntuko (@redgrapescafe) was initially hesitant, but her first purchase made her a convert. She is now a fan and recommends Temu to her followers, friends, and family for its wide selection of products, reasonable prices, and easy-to-use website. Her “Temu finds” video has garnered comments like, “So Temu has nice stuff. Good to see and KNOW.”, reflecting growing confidence in the platform.

Temu’s African journey began in South Africa last year, marking the platform’s first foray into the continent. The reception has been similarly positive. A recent survey conducted by News24, with support from Temu, reveals the platform’s impressive penetration: 1 in 3 South African respondents have used the platform, and nearly 40% have become active monthly users just one year after its launch in South Africa.

Among its users, 81% recognised the platform for its affordability and 46% estimated they save over half of their shopping budget when using Temu. 

Affordable Quality

Underpinning this popularity is Temu’s ability to offer quality products at affordable prices. Temu’s model allows consumers to purchase products directly from manufacturers, eliminating middleman markups and handling costs. This direct connection results in lower prices, closer to wholesale levels.

A study by the UK-based Centre for Economics and Business Research (CEBR) indicates that UK households could save approximately £3,000 annually by purchasing goods through direct distribution channels like Temu.

Digital marketplaces like Temu have decoupled price and quality by removing intermediary markups and enabling consumers to buy directly from manufacturers, according to e-commerce strategist Gregor Murray.

“The difference here is that it is the same product, sold without the additional costs or margins, at prices previously only available to those buying in huge bulk. Replace one retailer buying many to get cheap pricing, with many customers buying one and getting the same pricing,” he said to News24.

Global Expansion

Consumers globally have responded by propelling the platform to become one of the most visited e-commerce sites and a top Apple-recommended app of 2024. Temu now operates in 90 markets worldwide across the Americas, Europe, the Middle East, Africa, Asia, and Oceania.

Favour Kolapo (@ShazzleInc), a civil engineer from Osun State, has made e-commerce a regular part of her life due to its convenience and growing accessibility. She appreciates Temu’s product quality and the ease of payment it offers.

“Temu has been all up in our faces these past few weeks, so I took it upon myself to test it out. Everything I got was exactly as ordered!” she said. 

Kolapo confirmed that her purchases met expectations, noting, “Yes, all the products I bought met my expectations. I also like that Temu puts product descriptions and dimensions that let you know what you’re expecting. Even as a batch shopper for people in Osun State, I am yet to get a bad review.”

She also highlighted Temu’s shipping and delivery, stating, “The shipping and delivery are fast. I’d give them kudos on that.” Looking ahead, she sees room for growth, adding, “Temu in Nigeria is a work in progress, and I believe they’ll get the good recognition they deserve.”

By Adedapo Adesanya

Madica, a structured investment program designed for pre-seed stage startups in Africa, has announced an $800,000 investment in four startups from Egypt, Morocco, Tunisia, and Tanzania.

According to a statement on Wednesday, these startups include Medikea (Tanzania), Motherbeing (Egypt), Pixii Motors (Tunisia), and ToumAI (Morocco). The latest portfolio features underrepresented founders or startups from underserved regions, spanning AI, FemTech, mobility, and healthcare.

Each startup has received an investment of up to $200,000 and will participate in Madica’s comprehensive investment programme which includes 18 months of support through a highly personalised curriculum, hands-on mentorship, and two fully-funded week-long founder immersion trips to key local and global ecosystems, including Cape Town and London.

These trips offered startup founders expert-led sessions, networking with potential investors, customers, and other stakeholders, as well as in-depth workshops on investment readiness, organisational culture, and team building.

The portfolio companies will also gain access to executive coaching opportunities and access to Madica’s global network of investors for follow-on funding, all designed to spur growth and ensure the long-term viability of the startups.

This new funding marks Madica’s North Africa investment debut and reaffirms its commitment to backing mission-driven founders building solutions in markets often overlooked for VC funding.

Launched in 2022 and affiliated with Flourish Ventures, a global fintech venture capital firm with purpose, Madica is a sector-agnostic investment program designed to address structural gaps in Africa’s startup ecosystem.

The programme 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.

Commenting on the new portfolio companies, Mr Emmanuel Adegboye, Head of Madica, said, “In our first full year of investments, we made six new investments, bringing our total number of backed startups to eight.

“What’s particularly exciting is that we set out to build a portfolio with at least 50 per cent gender diversity in their leadership teams. We are currently exceeding that goal in addition to a significant portion of our portfolio having female CEOs.”

“Additionally, these investments span eight different countries and six diverse sectors, which is exactly the kind of portfolio diversity Madica aims to achieve across underrepresented geographies, sectors, and founder profiles,” he added.

On her part, Ms Nour Emam, Co-Founder and President of Motherbeing shared, “When Yousef and I started Motherbeing, our goal was clear: to empower women with knowledge and resources for informed reproductive health decisions, free from societal norms. Building this solution has been an incredible journey, and we’re thrilled to have Madica’s support in advancing our mission.

“We look forward to the program’s invaluable insights, opportunities, and support as we scale and improve health outcomes for women in the region.”

“We are thrilled to have Madica’s support as we strive to become Africa’s first e-scooter exporter,” shared Mr Anis Fekih, CEO of Pixii Motors, adding that “Madica’s investment program, combined with Flourish Ventures’ global expertise in supporting entrepreneurs, provides the operational and strategic backing we need to accelerate our growth and make a global impact.”

The Madica team has also added accomplished entrepreneur, operator, and investor Mr Yoeal Haile as a mentor. He will bring his deep expertise and local operational insights to support Madica founders in scaling their ventures.

Since its launch, Madica has invested in tech-enabled startups, including Kola Market, GoBeba, NewForm Foods, and Earthbond, and has remained a vocal advocate for gender diversity in African tech.