General
Ventures Platform Advocates Creation of Inclusive Climate Fund
By Adedapo Adesanya
Early-stage venture capital fund, Ventures Platform, which invests in innovative startups across Africa, has called for the establishment of an inclusive climate innovation fund to support underrepresented groups in climate entrepreneurship.
This is part of recommendations made in its recently published climate tech whitepaper entitled Innovating for a Sustainable Future: Leveraging Venture Capital and Startup Innovation to Combat Climate Change in Africa.
The white paper outlines key goals, strategies, challenges, and ecosystem support needed to enhance the impact of African climate tech startups, providing a comprehensive guide for non-climate VCs and entrepreneurs in the technology sector. It also proposes a framework for a coordinated climate response in the African tech sector.
Formally launched at the recently held Africa Prosperity Summit in Lagos, the paper explores how the agility and innovation of startups, combined with the strategic deployment of venture capital, can catalyse the development and scaling of climate-smart solutions tailored to the specific needs and challenges of African communities and ecosystems.
Furthermore, the paper offers insights to climate tech startups on how to secure and maintain venture capital support, while providing an in-depth analysis of how venture capital and startup ecosystems can act as powerful engines of progress in the face of environmental adversity.
Other recommendations made include the need to develop Africa-specific metrics for measuring the success and impact of climate-focused startups, considering both environmental and socio-economic factors.
Since launching in 2016, Ventures Platform has funded over 90 startups, with at least one in every region of the continent and across various sectors including climate tech. Many of its startups are category leaders in fintech, healthtech, and insurtech, including Moniepoint, Mdaas Global and Tanel Health.
While not primarily a climate fund, Ventures Platform understands the importance of sustainable investments for long-term prosperity and has factored this into its investment guidelines by prioritising businesses that implement sustainable practices, reduce environmental impact and drive long-term ecological benefits.
Drawing from its learnings as a key player in Africa’s tech ecosystem and from broader research, Ventures Platform has published this climatetech white paper to better equip non-climate Venture Capitalists (VCs) and startups with insights and tools to support Africa’s climate resilience through strategic investments and operational choices.
The fund also called for the facilitation of cross-border collaborations between different types of VCs through networking events, joint investment programmes, and knowledge-sharing platforms.
According to the United Nations, Africa contributes under 4 per cent of the global greenhouse gas emissions yet suffers disproportionately from climate change.
Ventures Platform, through the white paper, proposed a simplified framework focusing on adaptation, mitigation and enablers, to guide the African VC and startup ecosystem in addressing climate challenges.
It examined that adaptation strategies include developing climate-resilient infrastructure and agricultural practices. Mitigation efforts focus on reducing greenhouse gas emissions through renewable energy adoption and sustainable land use while ‘enablers’ encompass financing mechanisms, policy frameworks, educational programs, and technological innovations.
It also recommended the conduction of sector-specific climate opportunity assessments to identify and prioritise high-potential sectors for climate innovation in Africa.
Presenting the white paper at the Africa Prosperity Summit, Mr Dotun Olowoporoku, Managing Partner, Ventures Platform, shared, “African VCs often prioritise impact and livelihoods along with traditional metrics, but there is an urgent need to focus on climate-resilient business models”
Mr Olowoporoku also noted that climate change poses formidable threats with potential for severe impacts across multiple sectors, and noted that,”building climate-resilient business models can unlock business, societal and environmental sustainability.”
“As Venture Capitalists, we can drive change in Africa’s climate action by providing funds, encouraging innovation, and scaling climate-smart solutions. Startups like MAX, Rana Energy, and ThriveAgric, which were recognised in the 2024 TIME 100 Climate list, show how tech-driven solutions can address local issues and help global climate efforts.
“At Ventures Platform, we are deeply committed to investing in companies that are not only commercially successful but also actively contribute to solving some of society’s collective challenges”.
Commenting further on the landmark paper, Mr Dolapo Morgan, Senior Investment Associate at Ventures Platform, shared, “Africa is at the receiving end of the world’s climate disaster and it is important for us to turn this challenge into opportunities. It is time for entrepreneurs to focus on building climate-resilient business models for long-term sustainability while creating innovative climate solutions to tackle climate challenges.
“We are already beginning to see some startups and investors move in this direction and that is a good start. This white paper is a call for a coordinated African response towards scaling the opportunities that climate change presents to our technology sector, emphasizing the pivotal role non-climate funds can play in complementing and amplifying the efforts of climate-focused investments,”
General
AI in Agriculture, Retail Sectors May Lead to Double Digit Growth by 2035
By Adedapo Adesanya
High-impact sectors, including agriculture, wholesale and retail, will see double digit increases with the integration of artificial intelligence (AI) across Africa by 2035.
This is according to a new report by the African Development Bank (AfDB) developed under the G20 Digital Transformation Working Group, Africa’s AI Productivity Gain: Pathways to Labour Efficiency, Economic Growth and Inclusive Transformation, which establishes a strategic roadmap for unlocking the economic and social potential of AI across the continent.
The study, carried out by consulting firm Bazara Tech, finds that inclusive AI deployment could generate up to $1 trillion in additional GDP by 2035 equivalent to nearly one-third of the continent’s current economic output.
The report added that this is underpinned by Africa’s growing digital capacity, favorable demographics, and ongoing sectoral reforms, making it one of the most promising regions for AI-driven growth globally.
According to the report the AI dividend is expected to be concentrated in select high-impact sectors, rather than spread evenly across Africa’s economy. Analysis identified five priority sectors—agriculture (20 per cent), wholesale and retail (14 per cent), manufacturing and Industry 4.0 (9 per cent), finance and inclusion (8 per cent), and health and life sciences (7 per cent)—which together are projected to capture 58 per cent of the total AI gains, or approximately $580 billion by 2035. These sectors combine economic size, readiness to adopt AI, and strong potential to deliver inclusive development outcomes.
“We have set out the key actions in this report, identifying the areas where initial implementation should be focused,” said Mr Nicholas Williams, Manager of the ICT Operations Division at AfDB.
“The bank is ready to release investment to support these actions. We expect the private sector and the government to utilize this investment to ensure we achieve the identified productivity gains and create quality jobs,” he added.
The report also revealed that realising the potential of AI depends on five interlinked enablers: data, compute, skills, trust, and capital. Reliable and interoperable data forms the foundation for AI insights, while scalable compute infrastructure ensures solutions can be deployed efficiently across the continent.
It noted that a skilled workforce is essential to develop, implement, and maintain AI systems, and trust built through governance, and regulatory frameworks underpins adoption.
The report also noted that the enablers, together with adequate capital investment to de-risk innovation and accelerate deployment, would “foster a cycle of AI-driven growth.”
The report also outlines a three-phase roadmap toward Africa’s AI readiness: ignition (2025-27), consolidation (2028-31) and scale (2032-35).
“Achieving early milestones by 2026 will set Africa’s AI flywheel in motion,” said Mr Ousmane Fall, Director of Industrial and Trade Development at the bank. “Africa’s challenge is no longer what to do — it is doing it on time.”
General
Crude Oil Tanker Seized Near Venezuela Not Registered in Nigeria—NIMASA
By Adedapo Adesanya
The Nigerian Maritime Administration and Safety Agency (NIMASA) has clarified that the crude oil vessel, MV Skipper, intercepted by the United States Coast Guard, in collaboration with the US Navy for its alleged involvement in crude oil theft and other transnational crimes is not registered in Nigeria.
NIMASA said the Very Large Crude Carrier (VLCC) SKIPPER with IMO Number 9304667 is not a Nigerian-flagged vessel, and its purported owners, Thomarose Global Ventures Limited, are not registered with NIMASA as a shipping company.
An analysis of the vessel’s movement carried out NIMASA through its Command, Control, Communication, Computers and Intelligence (C4i) Centre showed that the facility was last sighted on Nigerian waters on July 1, 2024.
“After departing Nigerian waters, the vessel continued on its international voyage pattern and was tracked operating in the Arabian Sea (Asia) and later in the Caribbean region, where the US interdiction eventually took place.
“Records indicate that SKIPPER, which was formerly owned by Triton Navigation Corp, has undergone multiple name changes over time.
The Director General of NIMASA, Mr Dayo Mobereola, reaffirmed the agency’s commitment to collaborate with all relevant stakeholders, including US authorities, in the ongoing investigations, noting that in a statement that criminality will not be tolerated on Nigerian waters.
Last week, US forces seized an oil tanker carrying a Panama flag believed to be the VLCC Skipper, after satellite imagery showed the vessel secretly loading over 1.8 million barrels of sanctioned Merey crude at Venezuela’s José Terminal.
The vessel had been transmitting falsified AIS positions during the operation, a tactic increasingly used by “dark fleet” tankers tied to Venezuelan and Iranian trades. It was later revealed that the seized tanker Skipper, was carrying crude contracted by Cubametales, Cuba’s state-run oil trading firm.
The seizure of the sanctioned oil tanker has sharply escalated tensions between the US and Venezuela. The US government also said it is preparing to intercept more ships transporting Venezuelan oil.
General
SERAP Threatens to Sue AGF Fagbemi Over Failure to Enforce NDDC Judgment
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has urged the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, “to immediately enforce the judgment compelling and directing him and president Bola Tinubu to widely publish the names of those indicted in the alleged misappropriation of N6 trillion meant to implement the abandoned 13,777 projects and in the running of the Niger Delta Development Commission (NDDC) between 2000 and 2019.”
The judgment was delivered on Monday, November 10, 2025, by Justice Gladys Olotu following a Freedom of Information suit number: FHC/ABJ/CS/1360/2021 brought by SERAP.
The court also ordered Mr Fagbemi and the president “to publish and make available to the public the NDDC forensic audit report submitted to the federal government on September 2, 2021.”
In the letter dated December 13, 2025 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation said: “The continuing failure and/or refusal to publicly acknowledge the judgment and immediately enforce it makes a mockery of the country’s legal and judicial processes and the rule of law.”
It warned that the ongoing failure and/or refusal to enforce the judgment is a fundamental breach of both the letter and spirit of the Nigerian Constitution and a direct assault on the rule of law.
“Obeying the judgment would reinforce the primacy of the Nigerian Constitution, and the country’s international obligations and show respect for the rule of law.
“The Attorney General is the Chief Law Officer of the Federation and as such has the responsibility to uphold the Nigerian Constitution, advise the government to ensure that its actions conform with judicial decisions, obey the rule of law and generally act in the public interest,” it disclosed.
The group noted that, “We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider pursuing contempt proceedings against you to compel you to uphold the Nigerian Constitution and the rule of law.”
“SERAP notes the recent public commitments by President Tinubu to ‘improve the welfare of the Niger Delta region and address the challenges facing the region.’ Immediately enforcing the NDDC judgment would ensure the fulfilment of these commitments,” it concluded.
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