General
African Agribusinesses Get $85m Funding Support
By Modupe Gbadeyanka
About $85 million has been put down to support agribusinesses in Africa to increase productivity and expand food systems in rural areas.
This money was provided by the trio of Swedfund, British International Investment (BII), and Norfund. It will be distributed to the beneficiaries through a specialist investor transforming agriculture across sub-Saharan Africa, AgDevCo.
The investment will enable AgDevCo to expand its portfolio of small and medium-sized enterprises (SMEs) across countries in sub-Saharan Africa. This will include agribusinesses producing nutritious foods for local consumption and high-value export crops.
AgDevCo’s portfolio contributes to improved food security, poverty reduction in underserved communities and the growth of competitive industries.
A statement made available to Business Post indicated that the investment in the firm by the trio comprises up to $20 million from Swedfund, $50 million from BII and $15 million from Norfund.
AgDevCo’s investments have already benefited over two million smallholder farmers, improving their livelihoods, climate resilience and food security.
“Improved Food Systems is one of Swedfund’s focus areas. It is important to invest across the food value chain to boost resilience, adaptability, and food security,” the Senior Investment Manager at Swedfund, Tomas Wadström, said.
Also, the Director and Head of Food, Agriculture and Natural Capital at BII, Roman Frenkel, said, “This investment underscores BII’s commitment to empowering agribusinesses that are driving sustainable practices, strengthening food systems, and building economic opportunities for rural communities.”
“Our $15 million to bring our total investment in AgDevCo to $35 million reflects our unwavering commitment to supporting enterprises that empower smallholder farmers, enhance local food systems, and build resilience against climate change.
“By addressing the financing gaps and driving sustainable practices, this partnership is not only a catalyst for increased productivity but also a vital step toward lifting underserved communities out of poverty,” the Investment Manager at Norfund, Donald Muchiri Kariuki, stated.
“Developing commercial agriculture in Africa requires patient and strategic investment. We are fortunate to have shareholders who recognize the huge potential as well as the challenges of investing in the sector.
“This latest capital injection from BII, Norfund, and Swedfund strengthens AgDevCo’s position as a leading specialist investor, enabling us to grow our portfolio and drive positive impact at scale,” the chief executive of AgDevCo, Daniel Hulls, remarked.
Africa faces complex and urgent challenges in its agricultural sector, including limited financing, climate vulnerabilities, low market access and underdeveloped value chains.
AgDevCo works to address these issues by investing across the agricultural value chain, from primary production to logistics, ensuring sustainable practices and improved resilience.
In 2023, over 2.4 million small-scale farmers, customers, and traders of which 29 per cent were women benefited from markets and income opportunities linked to AgDevCo’s portfolio companies. Furthermore, over 28,000 jobs were directly supported in the same year.
By Modupe Gbadeyanka
Over 50 skilled technicians drawn from various states across the South-West region of Nigeria converged on Ibadan, Oyo State, on Friday for a comprehensive technical and sensitisation training programme for set-top box installers and associated reception equipment technicians.
This training was organised by the National Broadcasting Commission (NBC) in partnership with the Nigerian Communications Satellite Limited (NIGCOMSAT) to guarantee a smooth, efficient, and error-free rollout of Nigeria’s digital broadcasting migration.
Nigeria’s journey toward digital terrestrial television has spanned nearly two decades. The country formally adopted the digital switchover policy in 2008 in line with the International Telecommunication Union’s (ITU) 2006 global mandate, which set a June 2015 deadline for member states.
Successive missed targets in 2017 and beyond stemmed from funding constraints, policy inconsistencies, infrastructure gaps, and logistical challenges. While pilot projects were implemented in Plateau, Lagos, Kano, Enugu, Kwara, Osun, Kaduna, and the Federal Capital Territory, nationwide coverage remained a distant goal.
After substantial public investment exceeding N60 billion with limited results, the federal government unveiled a bold, renewed strategy in 2025 titled The Big Picture on June 17, 2026, with a firm analogue switch-off date set for December 31, 2028.
The new framework introduces a hybrid broadcasting model that intelligently combines Digital Terrestrial Television (DTT), Direct-to-Home (DTH) satellite delivery via NIGCOMSAT-1R, and Internet Protocol (IP)-based distribution.
By prioritising satellite technology, Nigeria leverages its sovereign satellite assets to significantly reduce dependence on expensive terrestrial transmission infrastructure. This approach is projected to accelerate digital television rollout by over 65 per cent while delivering near-instantaneous national coverage.
The Head of the Digital Switchover (DSO) unit and Deputy Director of Public Affairs at the NBC, Mrs Clementine Usman-Wamba, noted that the Ibadan session is the first of many planned across Nigeria’s geopolitical zones.
The Ibadan training directly addresses the technical demands of this hybrid ecosystem. Installers will be equipped with skills in satellite dish alignment for DTH, terrestrial antenna optimisation for DTT signals, and the configuration of hybrid reception devices.
Given the significant departure from analogue systems and earlier pilots, this sensitisation is essential to minimise installation errors, reduce service disruptions, and ensure that even households in rural and underserved communities can enjoy seamless access to superior digital broadcasts.
The FreeTV platform, built on open-standard DVB-S2 technology, will offer up to 100 free-to-air high-definition channels to an estimated 40 million television households across the country.
For terrestrial reception, Nigeria has adopted the advanced DVB-T2 standard with MPEG-4 AVC compression, which supports up to 20 channels per frequency—far more efficient than previous systems.
Consumers can access the service using affordable DVB-S2-compatible set-top boxes (priced between N15,000 and N25,000) or smart TVs with built-in DVB-T2 digital tuners.
Beyond technical excellence, the DSO represents a major national economic transformation project. The reallocation of broadcast spectrum (the “digital dividend”) will unlock new opportunities in telecommunications and broadband services. The advertising market is projected to expand by up to N605.2 billion, while local manufacturing and assembly of reception equipment is expected to generate over 20,000 jobs.
By Adedapo Adesanya
The Nigerian Maritime Administration and Safety Agency (NIMASA) has introduced the Blue Economy Accelerator Programme, a strategic initiative to identify, nurture, and accelerate innovative startups that will contribute to the sustainable growth of Nigeria’s marine and blue economy.
The Blue Economy Accelerator Programme is aimed at attracting young, vibrant minds with innovative ideas capable of transforming Nigeria’s maritime ecosystem.
The Director-General of NIMASA, Mr Dayo Mobereola, said that through the initiative, participants will receive structured business development support, industry mentorship, and technical guidance to convert promising concepts into viable ventures that address critical challenges and opportunities within the blue economy.
“The programme reflects NIMASA’s commitment to supporting the implementation of the vision of the Federal Ministry of Marine and Blue Economy in unlocking the immense potential of the blue economy by empowering young innovators, entrepreneurs, and technology-driven enterprises. We at NIMASA want to provide a platform for investors to identify young talents and invest in them,” he said.
The NIMASA DG commended the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, for codifying the Marine and Blue Economy Policy as a clear roadmap for the sector’s development and also urged young Nigerians to embrace the programme, which has the potential to transform raw talents into big investments in the maritime sector.
Applications are open to startups and innovators developing solutions across several strategic sectors, including marine waste management and the blue circular economy; aquaculture And sustainable fisheries; maritime technology and logistics innovation; ocean energy including wave, tidal, and offshore renewable energy; marine tourism and coastal recreation; marine biotechnology such as, ocean data and analytics; green Shipping, including vessel decarbonization; smart port solutions; autonomous marine vehicles; biofouling prevention technologies; and coastal resilience through nature-based coastal defence solutions.
The first phase of the programme is expected to attract a minimum of 150 high-quality applications from within and outside the country, provided they are Nigerian citizens.
By Modupe Gbadeyanka
Governor Babajide Sanwo-Olu of Lagos State will declare open the 53rd Annual General Meeting (AGM) and Congress of the Association of Advertising Agencies of Nigeria (AAAN) taking place from July 23–24, 2026, at the Providence Hotel, Ikeja GRA, Lagos.
The event is expected to bring together leaders from advertising, marketing, media, government and the wider creative economy to examine the forces reshaping the industry.
A statement from the group stated that the programme, themed AdVolution: The End of Advertising as We Know It and How to Win What Comes Next, will have the Minister of Information and National Orientation, Mr Mohammed Idris Malagi; the Director-General of the Advertising Regulatory Council of Nigeria (ARCON), Mr Lekan Fadolapo, and others in attendance.
The conference will feature keynote presentations by the CMO of Fidelity Bank, Mr Meksley Nwagboh, and the chief executive of Big Cabal Media, Tomiwa Aladekomo. They will share insights on the evolving advertising landscape and the opportunities shaping its future.
This year’s congress comes at a time when artificial intelligence, digital platforms, changing consumer behaviour and the creator economy are transforming how brands connect with audiences and deliver value.
The conference will examine some of the industry’s most pressing issues, including the shift from interruption-based advertising to participation-led engagement, the evolution of agencies into technology-driven ecosystems, the rise of the creator economy and the growing need to move beyond traditional commission models towards measurable business impact.
The president of AAAN, Mr Lanre Adisa, described this year’s theme as both timely and necessary.
“This year’s AGM comes at a defining moment for our industry. AdVolution captures the reality we are all facing: a period of big change that is reshaping how we work, create and deliver value. This gathering is an opportunity for industry players to come together, exchange ideas and shape the next chapter of advertising in Nigeria,” he stated.
Activities will commence on July 23 with a members-only Business Session featuring the President’s stewardship address, committee reports and deliberations on the Association’s progress and strategic direction.
The main conference takes place the next day and will conclude with the AAAN Gala and Awards Night, celebrating outstanding contributions to Nigeria’s advertising industry.
