General News
African Healthcare Funders Forum to Connect, Scale Innovative Healthcare Solutions
The African Venture Philanthropy Alliance (AVPA), Ashoka, and Social Innovation Circle, sponsored by Boehringer Ingelheim as part of their “Making More Health” and Boehringer Ingelheim Social Engagement initiatives, are joining forces to launch the African Healthcare Funders Forum, a first-of-its-kind year-long gathering of Africa’s leading funders and social entrepreneurs to drive the transformation of the African healthcare sector.
The Forum is dedicated to bridging the current healthcare funding gap, advancing innovative financing models, and providing funders as well as social entrepreneurs with the tools and networks needed to catalyze sustainable growth at the speed and scale required to achieve maximum impact on the continent.
“Africa’s health sector, which has been traditionally viewed as a sector for the public good, represents a massive investment opportunity, estimated by the United Nations Economic Commission for Africa to be worth $66 billion annually. Helping more funders and founders to connect, collaborate and scale innovative healthcare solutions is critical to the growth of the sector.
“The Forum will provide a collaborative space to meet, discuss and learn from peers on how to best mobilise and deploy capital into African healthcare ventures and overcome funding challenges”, says Dr Frank Aswani, CEO of AVPA.
Institutional capital and the expertise that typically comes with it are critical to achieving growth in this sector. This will require the establishment of new relationships between private and development sector players, the development of new impact delivery models, and the wide adoption of innovative financing principles like Impact Investing.
“To partner for impact is a key element of our strategy, and it is even the theme of this year’s Making More Health (MMH) Convention on October 4/5, 2022. Both MMH and Boehringer Ingelheim Social Engagement, our impact investment vehicle, are built on the notion that we can achieve much more together.
“Thus, we are delighted to sponsor this Forum, participate, and collaborate on building up the Impact Investing Ecosystem in SSA”, says Christian Bausch, Project Lead Boehringer Ingelheim Social Engagement.
Impact Leadership Programme
The African Healthcare Funders Forum offers a year-round programme of networking events and learning opportunities for impact leaders.
It will launch in September 2022 with a three-month Impact Leadership Programme spread over 12 touch points, where funders across the capital spectrum, from grantmakers to debt providers and private equity players, will meet online to network and learn about the latest innovations in impact investing and healthcare.
The Programme has been curated and will be run by Social Innovation Circle, an experienced impact investment coaching team that has been training impact entrepreneurs and investors for over a decade, in close partnership with Ashoka.
“Social Innovation Circle is very excited to collaborate with leading partners and stellar experts to build this unique Impact Leaders Forum bringing together funders and founders dedicated to accelerating healthcare innovations in Africa,” says Mark Cheng, Founder and Managing Partner, Social Innovation Circle.
Applications to the Programme are officially open. For its inaugural Leadership Programme, the Forum will bring together social investors – grantmakers, debt providers, private equity and venture capital fund managers, angel investors, impact investors, and mainstream and development finance institutions – actively deploying or planning to deploy capital in African healthcare, whether as philanthropists, equity investors, or lenders.
Alongside impact funders, the Forum members will include CEOs of pioneering healthcare ventures carefully selected and nominated by Ashoka, the global network of social enterprise founders.
These CEOs will join funders in the Leadership Programme to share their perspectives on which business models and innovations are delivering impact on the ground and how to improve the flow of capital into the sector.
Over the course of three months, the programme will provide the Impact Leaders with a comprehensive overview of the challenges and opportunities of funding African healthcare, through a series of guided conversations with leading industry experts and market participants, and an exploration of how impact finance can be used to increase the flow of capital for innovative healthcare ventures.
Frank Aswani, The AVPA CEO, will be hosting Forum co-conveners Mark Cheng and Christian Bausch for a Fireside Chat on 24th June to introduce the Forum and discuss the African healthcare sector.
Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.
Tunde Ayeni, former chairman of defunct Skye Bank Plc,
This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.
He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.
Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.
Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.
Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.
About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.
The EFCC is expected to file charges once the investigation is concluded.
Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.
The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.
Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.
He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.
Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.
In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.
He also revealed that the company is preparing to introduce new home and personal care products later this year.
Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.
Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.
Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.
The special guests were conducted around the facility, and the programme was concluded with a luncheon.
The administration of Donald Trump has frozen $344 million in cryptocurrency allegedly linked to Iran, marking a sharp escalation in financial pressure on Tehran.
The move comes amid stalled diplomatic efforts and a fragile ceasefire in the region.
U.S. Treasury Secretary Scott Bessent confirmed that authorities are sanctioning multiple crypto wallets tied to Iran. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he said.
Tether, which facilitated the transactions, said it worked with U.S. authorities to freeze the funds across two wallet addresses after receiving intelligence linked to unlawful activity.
A U.S. official said blockchain analysis revealed “material links” to the Iranian regime, including transactions routed through intermediary addresses connected to wallets associated with the Central Bank of Iran.
Responding to the development, Tether CEO Paolo Ardoino said the company does not tolerate illicit use of its stablecoin. “USD₮ is not a safe haven for illegal activity. When there is credible linkage to sanctioned entities or criminal networks, we act immediately,” he stated.
The crackdown underscores the growing reliance of sanctioned states on digital assets to bypass traditional banking restrictions. Data from Chainalysis shows Iran’s cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps reportedly controlling about half.
Analysts say while the freeze is significant, Iran has historically adapted to sanctions. Daniel Tannebaum of the Atlantic Council noted that targeting third-party actors enabling such transactions may be key to increasing pressure.
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