Economy

Google Picks Awabah, LifeBank, Flex Finance, Others for $4m Funding Support

Published

3 years ago

06/09/2022

By Aduragbemi Omiyale

A total of 60 startups established by entrepreneurs of African origin have been selected by a tech giant, Google, for the second cohort of Google for Startups Black Founders Fund (BFF) for Africa.

The beneficiaries will have the opportunity to have a share of the $4 million in funding support to assist their companies to expand their operations to other regions.

A digital pensions platform from Nigeria, Awabah, is among the startups chosen by Google for the programme and will join others to undergo a 6-month training programme that includes access to a network of mentors to assist in tackling challenges that are unique to them.

The 60 startups from Botswana, Cameroon, Ethiopia, Ghana, Kenya, Nigeria, Rwanda, Senegal, South Africa and Uganda will also be part of tailored workshops, support networks and community-building sessions.

According to Google, the 60 grantees, made up of 50 per cent women-led businesses, will also receive non-dilutive awards of between $50,000 and $100,000 and up to $200,000 in Google Cloud credit.

The beneficiaries were taken from various sectors such as fintech, healthcare, e-commerce, logistics, agtech, education, hospitality and smart cities.

Business Post gathered 23 startups were picked from Nigeria, 12 from Kenya, six from Rwanda, five from South Africa, four from Uganda, three each from Cameroon and Ghana, two from Ethiopia and one each from Botswana and Senegal.

The Google for Startups scheme was launched in April 2012 and has created over 4,600 jobs and raised more than $290 million in funding.

The Google for Startups Black Founders Fund programme will introduce the grantees in Africa to Google’s products, connections, and best practices which will help the founders to level the playing field as they build better products and services that add value to the African economy.

The Head of Startup Ecosystem, SSA for Google, Folarin Aiyegbusi, while commenting on the initiative, stated that, “Africa is a diverse continent with massive opportunity but the continent is faced with the challenge of limited diversity in venture capital funding flow.

“We hope that the Black Founders Fund program will be able to bridge the gap of disproportionate funding between ex-pat startups over local and black-led companies.”

Funding for the Google for Startup Black Founders Fund will be distributed through Google’s implementation partner, CcHUB.

“The equity-free cash assistance to startups will enable them to take care of immediate needs such as paying staff, funding inventory, and maintaining software licences. This is to help the grantees buffer the cost of taking on debt in the early stages of their business as many of them do not have steady revenue streams yet,” Aiyegbusi disclosed.

“Programs like the Black Founders Fund enhance the African ecosystem – where we currently have gaps in funding and infrastructure. Google getting involved and throwing its might behind thriving entrepreneurs in Africa is a beautiful thing, and I am very happy that Google has continued the Black Founders Fund in Africa initiative in 2022,” the CEO of MyMedicines and alumni of the 2021 BFF program, Abimbola Adebakin said.

Below is the list of the 60 startups selected for the programme:

S/N	Name	Country	About
1.	Agrikool	South Africa	Agrikool is an agritech platform that connects farming producers and buyers to a fair and reliable market.
2.	Ajua	Kenya	Ajua is an end-to-end operating system for SMEs to build a credible online presence, get feedback on their businesses and manage the relationship with their customers
3.	Awabah	Nigeria	Awabah is a digital pensions platform for Africa’s workforce
4.	BAG Innovation	Rwanda	BAG Innovation is a virtual and gamified platform that offers real-time access to experiential learning for university students and recent graduates
5.	Bailport	Rwanda	Baliport is a cross-border, multi-currency payment platform focused on enabling intra-Africa & Africa outbound money transfers through blockchain.
6.	Bee	Cameroon	Bee finances motorcycles to drivers while also providing training and access to jobs.
7.	Bookings Africa	Nigeria	Bookings Africa enables Africa’s gig workforce to digitise and monetize their skills by connecting clients efficiently and transparently to skilled talent across Africa.
8.	Brastorne	Botswana	Brastorne connects the unconnected in Africa, enabling rural villages to have access to the digital world without smartphones or data.
9.	Built	Ghana	Built enables access to business and financial tools for Sub-Saharan African small and medium-sized businesses (SMBs).
10.	BuuPass	Kenya	BuuPass is a travel startup – building digital rails for Africa’s intercity transport industry and supporting bus, train & flight transportation
11.	Cauri Money	Senegal	Cauri Money is a cashless remittance platform helping African migrants move money from around the world into mobile wallets in Africa.
12.	Clafiya	Nigeria	Clafiya connects individuals, families, and businesses to health practitioners – enabling access to convenient, quality, and affordable, on-demand primary care from their mobile phones
13.	ClinicPesa	Uganda	ClinicPesa provides an easy-to-use platform where low-income users can set aside funds as low as $0.30 daily dedicated towards healthcare and get access to healthcare loans
14.	COVA	Cameroon	COVA is a digital insurance platform that enables partner businesses to easily and seamlessly deliver insurance products to their users
15.	CreditAIs	South Africa	CreditAIs provides credit scoring tools for micro-businesses and individuals that do not fit the existing traditional credit scoring models
16.	DohYangu	Kenya	DohYangu enables end consumers in Africa to shop FMCG products & get cashback rewards at various retail stores, saving up to 25%
17.	Easy Matatu	Uganda	Easy Matatu provides a mobile platform that allows commuters to book and pay for scheduled rides on vetted and inspected minibuses
18.	Eden Life	Nigeria	Eden Life provides an operating system for receiving and rendering essential services in Africa – focused on offering food, cleaning, laundry, and beauty services to their customers.
19.	Estate Intel	Nigeria	Estate Intel provides reliable data to businesses that are investing or operating in the African real estate space.
20.	Eversend	Uganda	Eversend is a neobank, providing critical financial products in Sub-Saharan Africa – including cross-border financial services.
21.	Exuus	Rwanda	Exuus empowers informal saving groups with a digital ledger, digital wallet, decentralised social credit score, and instant micro-loans to both groups and individuals.
22.	Flex Finance	Nigeria	Flex Finance helps businesses in Africa to manage approval workflow, access credit, issue corporate cards to employees and make disbursements all from one platform.
23.	FlexPay	Kenya	FlexPay is a merchant-embedded digital savings platform that rewards customers for saving up for purchases – a save now buy later (SNBL) solution at checkout.
24.	Gamr	Nigeria	Gamr is an eSports tournament aggregation platform, helping African gamers discover tournaments they can play in and get rewarded for.
25.	Garri Logistics	Ethiopia	Garri Logistics matches shippers looking to move cargo with vehicle owners and drivers, while finding optimal route pairings to reduce empty miles.
26.	Haul 247	Nigeria	Haul247 is a logistics platform that connects manufacturing companies and farmers with trucks and warehouses.
27.	Healthlane	Cameroon	Healthlane provides advanced comprehensive health screening and personalised plans, biometric monitoring, genetic analysis as well as in-person and virtual visits with top-rated doctors .
28.	Healthtracka	Nigeria	Healthtracka is a platform that allows users access on-demand healthcare services in the comfort of their homes.
29..	HerVest	Nigeria	HerVest offers a highly secured, women-focused financial platform that enables women to participate in key financial services, with a focus on female farmers.
30.	Kapsule	Rwanda	Kapsule is a data as a service company that helps healthcare providers, insurers, and pharmaceutical companies to make better decisions
31.	Keep IT Cool	Kenya	Keep IT Cool is an early-stage, fast-growing social enterprise that leverages technology to strengthen the African aquaculture and poultry value chain through cold chain and storage
32.	KUDIGO	Ghana	KUDIGO offers an omni-channel digital commerce platform to empower micro and small businesses in Africa
33.	Kyshi	Nigeria	Kyshi provides multi-currency accounts and remittance services to and from Africa
34.	Leja	Kenya	Leja is an Android/USSD application enabling African micro-entrepreneurs to digitise all their business transactions and manage all their finance in one place
35.	LifeBank	Nigeria	LifeBank leverages technology to provide value in multiple segments (production, marketplace and distribution) of the healthcare supply chain such as blood, oxygen and medical supplies
36.	Mapha	South Africa	Mapha provides delivery as a service to businesses in peri-urban & township areas
37.	Norebase	Nigeria	Norebase provides a single digital platform and technology tools for entrepreneurs and businesses to start, scale, and operate in any African country and the United States.
38.	OneHealth	Nigeria	OneHealth is an online pharmacy & healthcare platform that provides access to medicines, healthcare information, and solutions (Laboratory services & Doctors) to the last mile patient.
39.	PesaChoice	Rwanda	PesaChoice bridges the gap in liquidity for low-middle income earners across the continent and drives access to financial services.
40.	Pindo	Rwanda	Pindo is a cloud communication platform for businesses, optimised for developers.
41.	Pivo	Nigeria	Pivo is a credit focused digital bank for trade, supporting businesses across Africa
42.	QShop	Nigeria	QShop is an easy to use DIY e-commerce platform designed to help small and medium-sized businesses scale and sell better online.
43.	Rekisa	South Africa	Rekisa helps businesses create their e-commerce websites and assists them with various digital marketing activities
44.	Scrapays Inc	Nigeria	Scrapays is creating operating system infrastructure for the recycling value chain in developing nations.
45.	Shiip	Nigeria	Shiip leverages web, mobile and API technology to connect individuals & businesses to delivery services in and out of Africa
46.	Solutech (Kenya):	Kenya	Solutech helps field-sales teams to sell more efficiently by leveraging powerful insights while providing FMCG companies with real-time data for day-to-day and strategic decision-making.
47.	Spleet	Nigeria	Spleet leverages a ‘Rent Now, Pay Later’ model to drive its mission to ensure that every African can afford a space to live in.
48.	Stears	Nigeria	Stears is a financial intelligence company providing subscription-based content & data to global professionals. Its mission is to build the world’s most trusted provider of African data.
49.	Synnefa	Kenya	Synnefa is building Africa’s first mini-farm ERP connected to IoT sensors that provide soil data which is combined with farmer activity data to create a farmer experience score that is passed on to financial partners to use on their credit score.
50.	Technovera	South Africa	Technovera is an innovative tech startup focused on technology inclusion through the development of simple technologies aimed at improving last mile access in Africa.
51.	TERAWORK	Nigeria	TERAWORK is an online freelance marketplace focused on matching freelancers to service buyers.
52.	TIBU Health	Kenya	TIBU Health is an omnichannel healthtech company connecting patients to healthcare services and professionals at a time and location of their choosing.
53.	Topset Education	Nigeria	Topset Education is an edtech platform that makes quality education accessible to Africans everywhere.
54.	TopUp Mama	Kenya	TopUp Mama enables restaurants in Africa to purchase food supplies, access financial services and manage their business.
55.	Wellahealth	Nigeria	Wellahealth provides technology and financial tools to healthcare providers and patients to enable affordability and accessibility of healthcare in emerging markets.
56.	Xente	Uganda	Xente is a digital financial platform with in-built spend management to support businesses across Africa
57.	Zanifu	Kenya	Zanifu enable SMEs to purchase inventory and pay later
58.	ZayRide	Ethiopia	ZayRide is a customer centric on-demand taxi service offering fast, convenient service throughout local areas in Ethiopia
59.	Zuberi	Ghana	Zuberi is a fintech platform based out of Accra, built to provide financial products and services to salaried workers in a way they have never experienced before
60.	Zuri Health	Kenya	Zuri Health provides affordable and accessible healthcare services to patients across Sub-Saharan Africa via mobile app, website, Whatsapp chatbot and SMS service.

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Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

2 Comments

Economy

No Discrepancies in Harmonised, Gazetted Tax Laws—Oyedele

Published

2 hours ago

22/12/2025

Adedapo Adesanya

By Adedapo Adesanya

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has said there are no discrepancies in the tax laws passed by the National Assembly and the gazetted versions made available to the public.

Last week, a member of the House of Representatives, Mr Abdussamad Dasuki, raised worries about the differences between its version and that gazetted by the presidency.

However, speaking on Channels Television’s Morning Brief on Monday, Mr Oyedele claimed what has been circulating in the media was fake.

“Before you can say there is a difference between what was gazetted and what was passed, we have what has not been gazetted. We don’t have what was passed,” he said.

“The official harmonised bills certified by the clerk, which the National Assembly sent to the President, we don’t have a copy to compare. Only the lawmakers can say authoritatively what we sent.

“It should be the House of Representatives or Senate version. It should be the harmonised version certified by the clerk. Even me, I cannot say that I have it. I only have what was presented to Mr President to sign.”

Mr Oyedele stated that he reached out to the House of Representatives Committee regarding a particular Section 41 (8), which states, “You have to pay a deposit of 20 per cent.”

He noted that the response given by the committee was that its members had not met on the issue.

“I know that particular provision is not in the final gazette, but it was in the draft gazette. Some people decided that they should write the report of the committee before the committee had met, and it had circulated everywhere.

“What is out there in the media did not come from the committee set up by the House of Representatives. I think we should allow them do the investigation,” Mr Oyedele added.

In June, President Bola Tinubu signed the four tax reform bills into law, marking what the government has described as the most significant overhaul of the country’s tax system in decades.

The tax reform laws, which faced stiff opposition from federal lawmakers from the northern part of the country before their passage, are scheduled to take effect on January 1, 2026.

The laws include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act, all operating under a single authority, the Nigeria Revenue Service.

Economy

Aluminium Extrusion Surges 59.35% to Lead NGX Weekly Gainers’ Chart

Published

3 hours ago

22/12/2025

Dipo Olowookere

By Dipo Olowookere

A total of 55 equities appreciated last week on the Nigerian Exchange (NGX) Limited versus the 49 equities recorded a week earlier.

However, 33 stocks closed lower compared with 41 stocks in the previous week, while 55 shares remained unchanged versus 57 shares of the preceding week.

Leading the advancers’ log was Aluminium Extrusion, which gained 59.35 per cent to close at N12.35, Mecure Industries rose by 44.93 per cent to N55.00, First Holdco appreciated by 42.93 per cent to N44.95, Guinness Nigeria improved by 33.01 per cent to N289.70, and NPF Microfinance Bank grew by 20.65 per cent to N3.74.

On the flip side, Living Trust Mortgage Bank lost 11.38 per cent to settle at N3.35, Japaul declined by 10.53 per cent to N2.38, International Energy Insurance slipped by 9.92 per cent to N2.27, FTN Cocoa depreciated by 9.80 per cent to N4.42, and Stanbic IBTC went down by 9.33 per cent to N95.20.

The buying interest in the week raised the All-Share Index (ASI) and the market capitalisation by 1.76 per cent to 152,057.38 points and N96.937 trillion, respectively.

Similarly, all other indices finished higher with the exception of AFR Bank Value, and the energy indices, which fell by 1.38 per cent and 0.17 per cent apiece.

According to trading data, a total 9.849 billion shares worth N305.843 billion in 126,584 deals exchanged hands in the five-day trading week compared with the 4.373 billion shares valued at N97.783 billion traded in 110,736 deals a week earlier.

The financial services industry led the activity chart with 8.295 billion shares valued at N232.223 billion traded in 50,351 deals, contributing 84.22 per cent and 75.93 per cent to the total trading volume and value, respectively.

The healthcare space followed with 517.443 million shares worth N3.472 billion in 2,979 deals, and the consumer goods counter transacted 392.765 million shares worth N12.664 billion in 18,438 deals.

The trio of Ecobank, First Holdco, and Access Holdings accounted for 6.424 billion shares worth N204.629 billion in 11,362 deals, contributing 65.23 per cent and 66.91 per cent to the total trading volume and value, respectively.

Economy

NEPC to Disburse $50m Digital Women Empowerment Fund Q1 2026

Published

3 hours ago

22/12/2025

Adedapo Adesanya

By Adedapo Adesanya

The Nigerian Export Promotion Council (NEPC) has assured beneficiaries of the $50 million Women Exporters in the Digital Economy (WEIDE) Fund to expect the first tranche of grants in the first quarter of 2026, following the completion of ongoing capacity-building and compliance processes.

The assurance was given during a Town Hall Meeting for WEIDE Fund beneficiaries held in Abuja over the weekend. The gathering provided an opportunity to review progress made since the launch of the initiative in August 2025.

The $50 million WEIDE Fund is a global initiative by the WTO and ITC to empower women-led businesses in developing countries, especially Nigeria, by providing training, finance, and market access for digital trade, helping them grow from small enterprises to global players through support like grants and mentorship, as seen in its launch phase benefiting 146 Nigerian women entrepreneurs.

Speaking at the event, the chief executive of NEPC, Mrs Nonye Ayeni, called on beneficiaries to maximize the opportunities provided by the programme, emphasizing the progress made and the milestones achieved since its launch.

Mrs Ayeni said the engagement was meant to review the programme’s achievements, identify areas for improvement, and strengthen support for the beneficiaries.

“So, it’s time for us to get together at the end of the year to see how far we’ve gone, how well we’ve done, and what we need to do to make it better and support them more effectively through the WEIDE Fund,” she said.

Mrs Ayeni highlighted the significant capacity-building activities conducted for the 146 selected women entrepreneurs, noting that top-tier coaches and trainers had been deployed immediately after the official launch by the Director General of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala.

“These coaches are exceptional. They’ve trained our beneficiaries in financial literacy, bookkeeping, soft skills, leadership, succession planning, and digital tools so they can compete globally,” she said.