Economy
Google Picks Awabah, LifeBank, Flex Finance, Others for $4m Funding Support
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. |
South Africa |
Agrikool is an agritech platform that connects farming producers and buyers to a fair and reliable market. |
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|
2. |
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 |
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3. |
Nigeria |
Awabah is a digital pensions platform for Africa’s workforce |
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|
4. |
Rwanda |
BAG Innovation is a virtual and gamified platform that offers real-time access to experiential learning for university students and recent graduates |
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5. |
Rwanda |
Baliport is a cross-border, multi-currency payment platform focused on enabling intra-Africa & Africa outbound money transfers through blockchain. |
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6. |
Cameroon |
Bee finances motorcycles to drivers while also providing training and access to jobs. |
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7. |
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. |
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8. |
Botswana |
Brastorne connects the unconnected in Africa, enabling rural villages to have access to the digital world without smartphones or data. |
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9. |
Ghana |
Built enables access to business and financial tools for Sub-Saharan African small and medium-sized businesses (SMBs). |
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10. |
Kenya |
BuuPass is a travel startup – building digital rails for Africa’s intercity transport industry and supporting bus, train & flight transportation |
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11. |
Senegal |
Cauri Money is a cashless remittance platform helping African migrants move money from around the world into mobile wallets in Africa. |
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12. |
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 |
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13. |
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 |
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14. |
Cameroon |
COVA is a digital insurance platform that enables partner businesses to easily and seamlessly deliver insurance products to their users |
|
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15. |
South Africa |
CreditAIs provides credit scoring tools for micro-businesses and individuals that do not fit the existing traditional credit scoring models |
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16. |
Kenya |
DohYangu enables end consumers in Africa to shop FMCG products & get cashback rewards at various retail stores, saving up to 25% |
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17. |
Uganda |
Easy Matatu provides a mobile platform that allows commuters to book and pay for scheduled rides on vetted and inspected minibuses |
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18. |
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. |
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19. |
Nigeria |
Estate Intel provides reliable data to businesses that are investing or operating in the African real estate space. |
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20. |
Uganda |
Eversend is a neobank, providing critical financial products in Sub-Saharan Africa – including cross-border financial services. |
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21. |
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. |
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22. |
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. |
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23. |
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. |
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24. |
Nigeria |
Gamr is an eSports tournament aggregation platform, helping African gamers discover tournaments they can play in and get rewarded for. |
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25. |
Ethiopia |
Garri Logistics matches shippers looking to move cargo with vehicle owners and drivers, while finding optimal route pairings to reduce empty miles. |
|
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26. |
Nigeria |
Haul247 is a logistics platform that connects manufacturing companies and farmers with trucks and warehouses. |
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27. |
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. |
Nigeria |
Healthtracka is a platform that allows users access on-demand healthcare services in the comfort of their homes. |
|
|
29.. |
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. |
Rwanda |
Kapsule is a data as a service company that helps healthcare providers, insurers, and pharmaceutical companies to make better decisions |
|
|
31. |
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. |
Ghana |
KUDIGO offers an omni-channel digital commerce platform to empower micro and small businesses in Africa |
|
|
33. |
Nigeria |
Kyshi provides multi-currency accounts and remittance services to and from Africa |
|
|
34. |
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 |
|
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35. |
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. |
South Africa |
Mapha provides delivery as a service to businesses in peri-urban & township areas |
|
|
37. |
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. |
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. |
Rwanda |
PesaChoice bridges the gap in liquidity for low-middle income earners across the continent and drives access to financial services. |
|
|
40. |
Rwanda |
Pindo is a cloud communication platform for businesses, optimised for developers. |
|
|
41. |
Nigeria |
Pivo is a credit focused digital bank for trade, supporting businesses across Africa |
|
|
42. |
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. |
South Africa |
Rekisa helps businesses create their e-commerce websites and assists them with various digital marketing activities |
|
|
44. |
Nigeria |
Scrapays is creating operating system infrastructure for the recycling value chain in developing nations. |
|
|
45. |
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. |
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. |
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. |
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. |
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. |
Nigeria |
TERAWORK is an online freelance marketplace focused on matching freelancers to service buyers. |
|
|
52. |
Kenya |
TIBU Health is an omnichannel healthtech company connecting patients to healthcare services and professionals at a time and location of their choosing. |
|
|
53. |
Nigeria |
Topset Education is an edtech platform that makes quality education accessible to Africans everywhere. |
|
|
54. |
Kenya |
TopUp Mama enables restaurants in Africa to purchase food supplies, access financial services and manage their business. |
|
|
55. |
Nigeria |
Wellahealth provides technology and financial tools to healthcare providers and patients to enable affordability and accessibility of healthcare in emerging markets. |
|
|
56. |
Uganda |
Xente is a digital financial platform with in-built spend management to support businesses across Africa |
|
|
57. |
Kenya |
Zanifu enable SMEs to purchase inventory and pay later |
|
|
58. |
Ethiopia |
ZayRide is a customer centric on-demand taxi service offering fast, convenient service throughout local areas in Ethiopia |
|
|
59. |
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. |
Kenya |
Zuri Health provides affordable and accessible healthcare services to patients across Sub-Saharan Africa via mobile app, website, Whatsapp chatbot and SMS service. |
By Aduragbemi Omiyale
Barring any last-minute changes, the 50th Annual General Meeting (AGM) of Champion Breweries Plc will take place on Thursday, May 21, 2026, at the Oriental Hotel, Victoria Island, Lagos, at 11:00 am.
At the yearly shareholders’ gathering, some of the key statutory and governance matters to be considered will include the Audited Financial Statements for the year ended December 31, 2025, alongside the Reports of the Directors, Auditors, and the Audit Committee.
Other agenda items are the declaration of dividends, election and re-election of Directors, authorisation for Directors to determine the remuneration of the Auditors, and election/re-election of shareholders’ representatives to the Audit Committee.
In line with its commitment to transparency, accountability, and shareholder engagement, the AGM will be held physically while also being accessible to stakeholders via the company’s official website: www.championbreweries.com.
This year’s AGM comes at a defining moment in the organisation’s corporate journey, following a transformative year marked by strategic expansion initiatives, including the acquisition of Bullet Energy Drink and its successful engagement with the capital market to raise growth capital.
These developments reinforce Champion Breweries Plc’s commitment to strengthening its competitive positioning, expanding its portfolio, and delivering long-term shareholder value.
The brewer has strengthened its transition into a group structure with the acquisition of an 80 per cent stake in enJOYbev B.V., a strategic move already delivering early earnings contribution and validating its international expansion drive.
The subsidiary’s results are now being consolidated into the Group accounts for the first time, with enJOYbev B.V. already contributing positively to earnings through operating profitability within the reporting period, an early validation of the group’s expansion strategy.
“This AGM reflects a defining chapter in our journey as a Company. The acquisition of Bullet, our successful capital market engagement, and the integration of enJOYbev B.V. into our group structure all signal a deliberate strategy for sustainable growth and diversification.
“These milestones position Champion Breweries Plc for stronger performance, broader market reach, and enhanced shareholder value. We remain committed to disciplined execution, operational excellence, and the highest standards of corporate governance,” the chairman of Champion Breweries, Mr Imo Abasi Jacob, said.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled a unified Taxpayer Identification (Tax ID) system for all taxable persons across the country as part of efforts to strengthen tax administration and improve transparency.
The agency announced the development in a public notice issued jointly with the Joint Revenue Board (JRB) on Monday.
According to the notice, the initiative is backed by Sections 6, 7, and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a Tax ID, in a wider move to expand the country’s tax base.
The NRS said the new framework is designed to create a centralised and harmonised taxpayer database that would enhance interactions between taxpayers and revenue authorities at both federal and sub-national levels.
“The Tax ID will serve as a single, unified identity for all taxpayers, enabling seamless interaction with tax authorities at both federal and sub-national levels. It is designed to consolidate taxpayer records, eliminate duplication, and ensure more efficient management of tax-related information,” the agency stated.
The revenue agency explained that the new system would simplify tax compliance procedures, including taxpayer registration, filing of returns, and payment processes.
According to the NRS, the framework is also expected to improve accountability and reduce leakages in tax collection by creating better visibility and tracking of taxpayer information nationwide.
“The initiative will simplify tax compliance processes, including registration, tax filing, and payment procedures. The system will improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection. The framework will also harmonise taxpayer information across all levels of government,” the notice added.
The agency further disclosed that the new Tax ID system would replace the existing Tax Identification Number (TIN) Validation API currently used by Ministries, Departments and Agencies (MDAs), financial institutions, and other organisations for taxpayer verification.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.
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