News
12 African Start-ups Emerged for Flapmax AI Innovation

Flapmax has selected 12 startups for the second cohort of its FAST Accelerator start-up programme, which was formed in collaboration with Microsoft.
Starting in October, the FAST Accelerator’s cohort of 12 startups will embark on a five-week comprehensive acceleration programme in Silicon Valley, California.
The programme received over 1,200 applications from 35 African countries in Africa. Applicants represented a diverse range of cloud-based products and services that serve businesses across Africa, and which use AI to promote innovation, improve efficiency, and address crucial challenges in their respective fields.
The top performers in the 2023 cohort, and those that will travel to Silicon Valley, are: Zeeh Africa, Sumundi, Cotrust Equity, Trucki, Orange VFX, 10mg Pharma, Wallx, Moosbu, KCG Aquatec Fish Farming, Aibanc, Zendawa Africa, and Greenbii.
The cohort will collaborate closely with Intel and Microsoft on co-innovation projects, as well as receive sales and marketing assistance and go-to-market enablement to increase their audience reach.
Flapmax will also help the start-ups to apply optimised large language models, as well as scale and fine-tune these models on Microsoft Azure and Intel platforms.
Dr. Dave Ojika, founder and CEO, Flapmax, said: “Our goal is to use AI as a catalyst to enable startups and marginalised entrepreneurs to rapidly and sustainably develop their businesses and create new job opportunities.”
“Microsoft believes that African start-ups and SMEs are well-positioned to become a bedrock for the African digital economy, with relevant solutions to local societal and economic challenges,” said Mame-Fatou Gueye, SME programme manager, Microsoft Africa Transformation Office.
“Participation in the FAST Accelerator programme will help these entrepreneurs capture growth opportunities and expand their market reach,” she added.
News
SEC Probes Ponzi Scheme Linked to FF Tiffany

The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.
A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.
The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.
The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.
According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.
SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.
“These schemes are not registered with the SEC and do not offer investor protection under the law.
“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.
The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.
SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.
News
US Launches ‘Window on America’ @ Ogun Tech Hub

The Ogun Tech Hub in Abeokuta, Nigeria received a significant step towards increasing digital access and empowering young people as US Embassy in Nigeria launched the ‘Window on America’ facility.
The newly opened centre will offer free high-speed internet, computer access, and targeted programs to help young Nigerians build essential skills in technology, entrepreneurship, and leadership.
In a post on X (previously Twitter), the US Embassy described the hub as a modern ICT and resource centre meant to promote digital inclusion and provide youths with skills.
“Hello Abeokuta! We’re thrilled to announce the opening of the Ogun Tech Hub Window on America. This dynamic space offers free high-speed internet, computers, and programs to help young people gain tech, leadership, and entrepreneurial skills,” the Embassy wrote.
The facility was established in collaboration with the Ogun State and GFA Technologies, a software solutions provider for startups and SMEs.
The Embassy said the facility is part of its wider network of 29 American hubs across Nigeria, designed to empower youth and broaden access to global knowledge and opportunities.
Speaking during the launch, Ogun State governor Dapo Abiodun urged young people to use the ICT industry for self-sufficiency and competitiveness globally.
He lauded the program as a public-private cooperation that connects Nigerian youngsters with global innovations.
The governor said: “The Ogun Tech Hub serves as a collaborative space for technologists, startups, and social entrepreneurs to develop tech-driven solutions for societal challenges. The partnership is aimed at positioning Ogun State as a leading tech hub in Africa, supporting creative problem-solving and commercial innovation.”
With the ‘Window on America’ program fully operational, Ogun State is well-positioned to boost youth empowerment and digital literacy.
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