General
IFC, Viva To Reward Entrepreneurs in Climatetech, Healthtech, Fintech
By Adedapo Adesanya
The International Finance Corporation (IFC) and Viva Technology have announced the second edition of the AfricaTech Awards, an initiative to spotlight Africa-focused companies with innovative solutions addressing key development challenges linked to climate change, health care, and financial inclusion.
The organisers, in a statement on Monday, said founders are invited to apply for the awards in three categories – climate tech, fintech, and health tech – on the awards’ website from February 27 to March 12, 2023.
The winners of the awards will gain access to leaders and top executives in the tech industry and increased visibility among global investors, including IFC, one of the largest venture capital investors in emerging markets.
The inaugural edition of the awards launched last year attracted more than 300 applicants. WEEE Centre won the award in the climate tech category, Click2Sure in fintech, and Chefaa in health tech.
Tech entrepreneurship can help drive economic growth in Africa and promote innovation and competitiveness in key sectors of the economy, including financial services, logistics, commerce, energy, and agriculture.
Funding for African tech startups reached a record $5.4 billion in 2022, according to Briter Bridges, but that is just a fraction of the funding available in developed countries. US startups, for example, received $200 billion in 2022.
Speaking on this, Mr Makhtar Diop, IFC’s Managing Director, said, “Tech entrepreneurship can help shape Africa’s future by contributing to countries’ efforts to address key challenges linked to climate change, food security, health resilience, and financial inclusion.
“Yet Africa’s tech ecosystems are underserved by private capital investments, receiving just 1 per cent of the global VC funding in 2022. With initiatives like the AfricaTech Awards, we hope to help innovative startups attract more private investment, showcasing the dynamic and growing opportunities in the continent’s tech sector.”
The 2023 AfricaTech Awards are part of IFC’s strategy to support tech ecosystems in emerging markets by providing startups with the capital, market expertise, and networks they need to scale.
In November 2022, IFC announced a $225 million VC platform to support tech entrepreneurs across Africa, the Middle East, Central Asia, and Pakistan. In addition, IFC has recently expanded the IFC Startup Catalyst Program by $60 million to help seed funds, incubators, and accelerators finance and mentor early-stage startups and prepare them for later-stage investment.
The winners of the AfricaTech Awards will be announced at Viva Technology 2023 from June 14-17 in Paris, France.
Knowledge partner Deloitte will help shortlist the top 15 startups under each sector category. After a second round of review by the awards judging panel, the top three startups in each category will be invited to join Viva Technology in Paris and pitch their innovative solutions in front of a global audience of investors, government representatives, and top tech executives.
“Following last year’s success, we are delighted to organize a second edition of the AfricaTech Awards challenge with the support of IFC. The awards will showcase the best of the African technology ecosystem on the VivaTech stage in Paris next June,” said Viva Technology Co-Presidents, Mr Maurice Lévy and Mr Pierre Louette.
Adding his input, the Managing Director, Mr François Bitouzet, said, “Every year, the event gives outstanding entrepreneurs a unique opportunity to highlight game-changing innovations for the continent. We are therefore building bridges between Africa and new international markets to draw attention to African ecosystems and what they have to offer.”
By Dipo Olowookere
Nigeria’s Vice President, Mr Kashim Shettima, will run as the vice-presidential candidate of the All Progressives Congress (APC) in the 2027 presidential election.
President Bola Tinubu retained Mr Shettima as his running mate for re-election next year, according to the National Chairman of the APC, Mr Nentawe Yilwatda.
In a post on Friday on X, the ruling party chairman described this as “another significant milestone in the journey of our great party.”
He also said it reaffirms the party’s collective resolve to sustain the Renewed Hope Agenda and deepen the progress already being recorded across the country.
It was gathered that Mr Tinubu submitted his presidential nomination forms today through his Special Adviser on Political and Other Matters, Mr Ibrahim Masari.
The submission was done ceremony at the Continental Hotel, Abuja, attended by several party chieftains, including The event brought together an impressive array of leaders of our great party, including the Chairman of the Progressive Governors’ Forum and Governor of Imo State, Mr Hope Uzodimma; Governor Mai Mala Buni of Yobe State, Governor Nasir Idris of Kebbi State, Governor Abba Kabir Yusuf of Kano State, Governor Uba Sani of Kaduna State, Governor Babagana Umara Zulum of Borno State, Governor Ahmadu Umaru Fintiri of Adamawa State, as well as other governors, party executives and critical stakeholders from across the federation.
“The All Progressives Congress remains focused on strengthening its grassroots support, consolidating the achievements of the Renewed Hope Agenda and working together to build a more prosperous, secure and inclusive Nigeria for all,” the party leader stated.
By Adedapo Adesanya
The pupils and teachers abducted in Oriire Local Government Area of Oyo State have regained their freedom after 56 days in captivity.
The development was disclosed on Friday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on X. He revealed that eight of the kidnappers have been arrested and are now in the custody of the Department of State Services (DSS), while some others were neutralised during the operation.
“Finally, all the kidnapped pupils and teachers in Oriire, Oyo have been rescued by our security agencies,” he wrote.
He said no concession was made to the terrorists to secure the freedom of the abducted pupils and teachers.
Mr Onanuga explained that the kingpin whose release the kidnappers had demanded was neither freed nor spared, as he remains under prosecution for offences linked to his terrorist activities.
The abductions occurred on May 15, 2026, when armed men attacked three schools: Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School, in the Esiele and Yawota communities of Oriire Local Government Area.
No fewer than 39 pupils and seven teachers, including a principal, were taken during the attacks. During the attack, a teacher, Mr Joel Adesiyan, was killed while attempting to escape.
Another teacher, Mr Michael Oyedokun, was reportedly beheaded in the kidnappers’ den.
The terrorists holding the victims had reportedly made a four-point demand before agreeing to free the captives, including the release of detained terrorist commanders, payment of ransom, two Hilux vehicles and the implementation of Sharia-related law.
The Oyo State Government had consistently maintained that no ransom would be paid to secure the release of any victims.
The Nigeria Union of Teachers (NUT) embarked on a month-long strike in the state to press for the victims’ rescue before suspending the action in July.
It also drew federal intervention, with military and police authorities repeatedly assuring Nigerians that operations to secure the victims’ freedom were ongoing.
The President’s spokesperson said that security agencies would soon provide a comprehensive account of the operation.
By Adedapo Adesanya
The board of the ECOWAS Bank for Investment and Development (EBID) has approved a $260 million financing package for the construction of a 123-kilometre section of the Trans-Saharan Highway in Nigeria as part of more than $417 million earmarked for strategic projects across West Africa.
The approval was granted during the bank’s 99th Ordinary Session, chaired by its President, Mr George Donkor, according to a statement issued after the meeting. It was noted that the total financing will support five public and private sector projects spanning infrastructure, healthcare, housing, mining, financial resilience and regional connectivity.
EBID said the approved investments underscore its commitment to funding high-impact projects that drive economic growth, create jobs and improve living standards across the sub-region.
“The projects approved during this 99th Board Session demonstrate EBID’s unwavering commitment to financing development solutions that directly improve the lives of West African citizens.
“From clean energy and transport infrastructure to healthcare, housing and financial sector resilience, these investments will strengthen regional competitiveness and support sustainable and inclusive growth across our community,” said Mr Donkor.
That of Nigeria is to improve connectivity, facilitate trade, reduce logistics costs and support economic integration; West African CFA franc (XOF) 10 billion in a line of credit to Banque de l’Habitat de Côte d’Ivoire (BHCI) to expand housing finance and support SMEs operating across the housing and construction value chain; €80 million for the design, construction, equipment and maintenance of the 150-bed Regional Hospital of Ferkessédougou in Côte d’Ivoire under a public-private partnership;
XOF 12.82 billion (West African CFA Franc) for the renovation, operation and maintenance of the Symphonie Building in Abidjan under a public-private partnership and $47.4 million for Azumah Resources Ghana Limited to finance the procurement of long-lead process plant equipment and critical early-stage development activities for the Black Volta Gold Project.
“These approvals advance EBID’s Growth, Resilience and Optimisation (GRO) Strategy, which prioritises transformative infrastructure, human capital development, private sector growth and regional integration. Through these investments, the Bank continues to promote sustainable development and shared prosperity across West Africa,” the statement said.
