Technology
Ventures Platform Advocates Increased Funding for Africa Amid Global Slump
By Adedapo Adesanya
Ventures Platform, an early-stage venture capital fund investing in innovative startups across Africa, has called for increased investment in Africa amidst global economic shifts.
This was the crux of the second edition of its Africa Prosperity Summit held on Friday, November 15 2024, in Lagos, Nigeria.
The invitation-only event themed Funding the Next Billion: Africa’s VC Investment Landscape in a Post-ZIRP Era brought together over 150 Pan-African and global investors, venture fund managers, family offices, development finance institutions (DFIs), fund of funds, Limited Partners and key ecosystem players actively investing in Africa.
The event served as a call to action for global and local investors, entrepreneurs, policymakers, and thought leaders to reassess opportunities in emerging markets amidst rising global interest rates and economic shifts. Africa, with its dynamic entrepreneurial spirit and growing youth demographic, presents significant investment potential.
However, realising this potential requires a deep understanding of local contexts and a commitment to fund innovations, which the 2024 Africa Prosperity Summit sought to address.
Speaking at the summit, Mr Kola Aina, Founding Partner, Ventures Platform emphasized that Africa’s massive population boom is happening at the same time global venture capital is on a decline.
He references that since the post-COVID peak of venture capital investments in 2021 -influenced by the Zero Interest Rate Policy (ZIRP) era – global venture capital flows have declined by 70 per cent.
“The situation in Africa is no better – Africa has experienced a 67 per cent decline in venture capital funding, despite its requirement of 10x more capital to address infrastructure gaps and non-consumption and be at par with Asia in terms of VC investments.
“Africans are simply unable to consume the goods and services that they need, talk less of want. If we do nothing about this today, by 2050, the 1 billion Africans that will be born – will end up being chronic non-consumers,” he argued.
“At Ventures Platform, we believe that by investing in the right kinds of entrepreneurship and innovation, we can produce two powerful outcomes – high-quality jobs that will drive up incomes across Africa, and scaling up affordability and accessibility to products/services for millions of people across Africa. The combination of these two powerful forces is an effective way of driving up consumption across Africa.”
Also speaking at the event, Mr Efosa Ojomo, the Director of Global Prosperity at the Clayton Christensen Institute highlighted Africa’s potential as the modern investment frontier, drawing parallels to historical transformations in global economies.
He emphasised how venture capital can accelerate market creation on the continent, stating, “Venture capital is designed to de-risk an economy – or at least, a sector. Unlike other financial vehicles like private equity or bonds, VC takes on the highest risk.
“In Africa, where raising funds for critical infrastructure is particularly challenging, venture capital must go beyond funding to actively build entrepreneurial ecosystems in the early stages.”
In the second keynote by Mr Charlie Robertson, Head of Macro-strategy at FIM Partners, provided a comprehensive analysis of global macroeconomics and its impact on investment and industrialization.
Engaging investors, fund of funds, startup founders, and policymakers, he explored the risks, challenges, and opportunities Africa faces in comparison to other regions.
“As Africa charts its path to prosperity, the critical levers of education, electricity, and fertility rates will define its economic trajectory. Countries like Egypt, Ethiopia, and Nigeria are already making strides with central bank policies that have corrected currency misalignments, paving the way for current account improvements and reduced investment costs.
“With fertility rates beginning to decline and the potential for service-led growth through affordable solar power and advanced connectivity, Africa is poised to leapfrog traditional industrialization barriers. This is a pivotal moment for investors to recognize the continent’s unique opportunities and actively shape its future prosperity.”
This year’s edition also witnessed Ventures Platform launching its inaugural ClimateTech White Paper titled “Innovating for a Sustainable Future: Harnessing Venture Capital and Startup Entrepreneurship to Combat Climate Change in Africa”.
The landmark paper which was launched by three key drivers – Urgency, Climate disparity, and Opportunities for VCs and Startups, examines the roles of venture capitalists and startups in climate change mitigation and adaptation. It also provides a comprehensive guide for non-climate VCs and entrepreneurs, including the development of a proprietary framework for a coordinated climate response in the African tech sector.
Technology
NCC Grants Three Satellite Licences to Boost Broadband Services
By Adedapo Adesanya
The Nigerian Communications Commission (NCC) has licensed three additional global internet service providers, Amazon’s Project Kuiper, BeetleSat-1, and and Germany-based Satelio IoT Services, as part of efforts to strengthen internet connectivity via satellite and to boost competition among existing internet service providers in the country.
Amazon Leo, formerly Project Kuiper, is Amazon’s Low Earth Orbit (LEO) satellite network, designed to provide fast, reliable internet to customers and communities beyond the reach of existing networks, while BeetleSat (formerly NSLComm) is an international company with strong ties to both Israel and Spain, and its corporate structure involves multiple countries, building a Low Earth Orbit (LEO) constellation of 250 satellites to provide high-throughput, low-latency, satellite internet, cellular backhaul, and mobility services globally, and Satelio IoT was approved for its planned 491-satellite IoT system, though only one satellite is currently in orbit.
NCC granted the global internet operators seven-year licences to each to operate in Nigeria from February 28, 2026, to February 28, 2033.
These operators were granted Ka-Band for their frequency band operations, and the licence is renewable after the seven years expiration, according to the regulator.
The NCC’s landing permit authorises Project Kuiper to operate its space segment in Nigeria as part of a global constellation of up to 3,236 satellites.
According to the NCC, the approval aligns with global best practices and reflects Nigeria’s willingness to open its satellite communications market to next-generation broadband providers.
The permit positions Project Kuiper to provide satellite internet services over Nigerian territory and sets the stage for intensified competition with Starlink, currently the most visible Low-Earth Orbit (LEO) satellite internet provider in the country.
The permit also gives Amazon LEO and BeetleSat-1, the legal certainty to invest in ground infrastructure, local partnerships, and enterprise contracts, while giving Nigeria a wider market opportunity to play in space internet service delivery, where Starlink currently operates.
Amazon’s Kuiper will offer three categories of satellite services in Nigeria: Fixed Satellite Service (FSS), Mobile Satellite Service (MSS), and Earth Stations at Sea (ESAS).
FSS enables broadband connectivity between satellites and fixed ground stations, such as homes, enterprises, telecom base stations, and government facilities. This is the core service behind satellite home internet and enterprise backhaul; MSS, by contrast, is designed for mobility and resilience; and ESIM extends high-speed satellite broadband to moving platforms, including aircraft, ships, trains, and vehicles.
These systems rely on sophisticated antennas that can track satellites in real time while in motion, making them critical for aviation and maritime connectivity as well as logistics and transport sectors.
BeetleSat was founded in Israel, where its groundbreaking antenna technology was developed and supported by the Israel Space Agency.
In 2021, it formed a strategic alliance with the Spanish technology group Arquimea, which is now BeetleSat’s largest shareholder and main industrial partner.
Technology
The Evolution of Digital Communication: How Modular Platforms Are Changing Business Efficiency
In today’s corporate world, the lines between personal communication and professional production have been blurred into non-existence. As working remotely becomes the norm, not the exception, businesses are seeking ways of making their workflows streamlined in the Apps that their employees are already using.
This change has led to the appearance of powerful third-party clients like Nicegram, which allow users to fill in the gap between simple message brokers and elaborate task managers. By scraping the cream of the crop into interfaces that we’re familiar with, these tools are not only changing the way that we chat, but they are fundamentally changing the ROI of digital communication.
The History of the Super-App Philosophy
The technosphere has been pursuing the vision of the so-called Super-App – one ecosystem where a user can bank, shop, work, and be social. Where the Western market has been lagging behind the Eastern in devoting itself to a single monolithic App, we are witnessing a new form of evolution, that of the modular development of existing ones.
It is becoming apparent to the business leaders that there is fatigue that results when you attempt to make your employees cross a series of fifteen tabs (CRM systems up to project management boards). Such a mental burden may lead to a 40% loss of 40%. The solution? Taking the tools to the conversation instead of making the conversation compatible with the tools.
The Dynamics of Messaging Infrastructure to Business
The last competitive advantage in the year 2026 will be the speed of information. Agile startups tend to be too slow on traditional email, whereas specialized enterprise software can be too strict to facilitate creativity. Instant messaging networks have bridged this divide and emerged as a trade-off in the relationships between immediate, persistent, and available.
Nevertheless, in many situations, off-the-shelf messaging Apps lack the scalability and controls to be used professionally. This is the point of intersection of business and tech, and this is where the interesting part appears. Improved client access is beginning to be exploited by modern companies:
- State-of-the-art multi-accounting. Important to social media managers and consultants who are involved with various clients.
- Built-in translation tools. Enabling transnational communication between localised teams without turning off the chat interface.
- Encryption layers and privacy. Securing confidential proprietary information during transit.
The Security Imperative
The more business logic we include in our channels of communication, the greater the risk of security increasing. Cybersecurity is no longer the business of the IT department; it is a fundamental building block of business. In adopting digital tools, organisations are making a statement regarding transparency and sovereignty of the information.
The tendency is in favor of open source foundations and API based enhancements. This enables the businesses to authenticate the security measures of the business communication tools and yet access the custom functionality to enhance productivity daily.
With platforms being set upon enforced and dependable protocols, the firms can always have the best of both worlds: reliability of a worldwide giant combined with the adaptability of a niche, productive package.
Artificial Intelligence integration: the Best Frontier
AI is a vital part of tech and business that cannot be discussed. The biggest advancement in the history of communication technology in the recent past has been the inclusion of the Large Language Model (LLM) on chat windows. To illustrate this, suppose that the manager of a project was endowed with a complicated brief that was brought to him by a message. AI-boosted clients can now type a summary of it or make a calendar appointment instead of doing it manually:
- Write long lines into lists that you can;
- create expert replies depending on the distinct tone of the user;
- program the scheduling with natural language.
The tools that we employ to encrypt our information, to generate our daily reminders, and even the way we are automating our lives through the tools that we consume, determine how rapidly we are maturing. With the adoption of the strength of the improved messaging ecosystem, companies may assist in building a more connected, effective, and secure future.
Technology
Interswitch Supports Early-Stage Entrepreneurs in Kano
By Aduragbemi Omiyale
Some budding entrepreneurs in Kano State recently received the backing of a leading integrated and digital commerce firm, Interswitch, at the maiden Kano Startup Weekend (KSW) themed Igniting Innovation & Empowering Entrepreneurs.
The event, which held on December 14 and 15, 2025, saw Interswitch providing practical insights, exposure to developer-friendly platforms, and guidance on building scalable digital businesses.
KSW 2025 is the flagship entrepreneurship and innovation event hosted by the Kano State Government through the Kano State Information Technology Development Agency (KASITDA).
Aligned with the Kano State Digital Transformation Agenda (2025–2030), the event aimed to ignite Kano’s startup ecosystem, foster collaboration, and position the state as a leading hub for technology and innovation in Nigeria and beyond.
The weekend featured pitch presentations from startups across technology, education, agriculture, mobility, and digital services, complemented by expert-led sessions on product development, funding readiness, customer acquisition, and scaling strategies. These engagements equipped founders with tools to refine their ideas while connecting with partners capable of supporting their next stage of growth.
Giving his keynote speech, the Chief Information Officer of Interswitch, Mr Patrick Okebu, emphasised the strategic importance of supporting regional innovation ecosystems. He said:
“Kano Startup Weekend reflects the depth of entrepreneurial potential emerging from Northern Nigeria. At Interswitch, we recognise that innovation thrives when founders have access to the right platforms, mentorship, and enabling infrastructure.
“Our support for this event aligns with our commitment to empowering startups with payment and digital commerce solutions that help them build confidently, scale sustainably, and compete effectively in today’s economy,” he said.
Beyond individual mentorship and the pitch sessions, KSW 2025 created opportunities for meaningful collaboration between the public sector, private organisations, investors, and the startup community, demonstrating how strong partnerships can accelerate innovation and drive inclusive economic growth.
The success of the inaugural Kano Startup Weekend highlighted the growing momentum within Kano State’s technology ecosystem and the increasing role of strategic partnerships in driving inclusive innovation. Interswitch noted that initiatives such as KSW are critical to expanding economic opportunity, nurturing local talent, and strengthening Nigeria’s broader digital economy.
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