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Visa, African Women Impact Fund Initiative (AWIF) Unveil Recipients of Funding to Empower African women

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Three women fund managers from Nigeria, Kenya and South Africa have been selected to receive Visa’s grant funding from the African Women Impact Fund Initiative (AWIF), a collaboration between Standard Bank and the United Nations Economic Commission for Africa (UNECA).

SME.NG (Nigeria), Altree Capital (Kenya) and Maia Capital (South Africa) are the selected recipients and will utilise the grants for their warehousing capital needs to invest in women-owned entrepreneurs across a range of sectors.

Last year Visa announced a grant to the AWIF as an extension of the She’s Next program, a global advocacy program for women-owned businesses that has been expanded to Sub-Saharan Africa to further champion and strengthen African women business owners as they build, sustain, and advance their businesses.

“We are proud to extend our efforts to empower women entrepreneurs to the fund management space. Women fund managers in Africa continue to face numerous challenges in building sustainable businesses.

“Their progress continues to be slow due to systematic barriers and investor bias. Our collaboration with AWIF will accelerate the multiplier effect of funding across the entire value chain where women owned businesses exist” says Aida Diarra, Senior Vice President & Head of Sub-Saharan Africa at Visa.

Women fund managers in Africa continue to face numerous challenges in building sustainable businesses. Research shows slow-moving progress in the visibility and inclusion of women fund managers due to systematic barriers and investor bias.

With African women accounting for just 7.6% of private equity and women-led businesses receiving only 7% of Private Equity (PE) and Venture Capital (VC) in emerging markets, this highlights the opportunities that exist to reduce the current gender gaps.

“When you invest in women, you also invest in their communities. Investments that go into the hands of women fund managers not only go towards the growth and sustainability of the companies they invest in, but the women who are part of the value chain of these companies.

“We are proud to have selected managers who have demonstrated their ability to support the growth and development of their communities, and through the grant these managers will now be in a better position to scale up their efforts and impact the lives of many more women-led businesses,” says Lindeka Dzedze. Global Markets Head of Strategic Partnership at Standard Bank Group.

The selection of the grant recipients was through a due diligence process managed by the appointed investment manager of the AWIF Initiative, Riscura.

The rigorous selection criteria were in alignment with the objectives of Visa’s She’s Next programme and AWIF which are to help women-owned businesses thrive, and to support and develop women fund managers, respectively.

Dinao Lerutla, the Managing Partner of South African based fund manager, Maia Capital, describes her organisation as the nexus between private capital and inclusive growth.

“At Maia Capital we are very intentional about ensuring that our investments make a positive and direct impact on the low-to-middle income households in South Africa and generate a return for investors.

“We have a bias towards women businesses and businesses that promote gender inclusion throughout the value chain. Through our targeted investments, we hope to contribute to economic recovery that is sustainable and inclusive.

“This is why our investment themes include education, healthcare, housing, clean technology, financial inclusion, and gender inclusion” she adds.

Jenni Chamberlain, CEO of Altree Capital Kenya, is the Investment Manager of the Altree Kadzi Gender Climate Fund is one of the selected fund managers. The Fund invests with a gender-lens and climate-smart approach in sub-Saharan Africa, with a strong East African presence.

She explains: “We have four investment pillars that we focus on when we look at an investment, namely, women entrepreneurs, women in leadership (the business must have 30% or more of women in management or on the board), employers of women (over 30% women in employment) and/or products & services that will improve the lives of women.

“The Altree Kadzi Gender Climate Fund will utilise the funding to invest in women-led and women-oriented companies, also driving sustainability and climate adaptation and mitigation strategies.

“By intentionally focusing on women and climate, Altree will provide support not only to the investee companies but also to companies in the greater investment value chain, ensuring gender-equity mainstreaming and sustainability.

“There are numerous barriers to African women accessing finance for their businesses; women-led businesses are an important yet overlooked sector of the economy.

“These companies are growing rapidly and access to finance will improve their growth trajectory exponentially. Altree will prove the ability of these companies to produce strong returns for the female entrepreneurs and investors alike.

“Not only are women most affected by climate change but women are early adopters of climate mitigation and adaptation technologies and solutions, as well as strong benefit multipliers. Supporting women-led and oriented firms, empowers women, ensures climate action, and will transform economies and societies” Ms Chamberlain adds.

Thelma Ekiyor, the co-founder of SME.NG, says her investment platform is driven by a gender lens investment philosophy focussing on the bottom of the pyramid.

The firm leverages private capital, public sector investments and philanthropic donations to deploy capital to impact oriented female entrepreneurs.

As an indigenous gender lens impact investor, SME.NG is committed to providing non-financial support that address the challenges women-owned businesses face, alongside financial capital.

SME.NG is differentiated by the fact that it has presence across eleven states of Nigeria rather than being concentrated in Lagos or Abuja, which makes its reach and impact significant.

Some of the small business SME.NG will invest in include businesses like NicNax Company – a company that collaborates with local farmers to process healthy breakfast and snack options.

Popular brands are the granola and peanut butter, currently available at most retail stores and eateries in Lagos. SME.NG will also invest in Smiley’s Mobile Kitchen – a company that sources organic tomatoes from small-holder farmers and processes into Nigerian “stew” bases, tomato and peppers purees and pastes.

“We have identified women businesses that have the potential to succeed across different sectors and we deliberately put a lot of emphasis on how women are impacted in the value chains of these companies. The grant from Visa and AWIF will help us strengthen our investment pipeline,” says Ms Ekiyor.

 


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LG Nigeria Begins Nationwide Search for Oldest Working TV, Rewards Loyalty with AI QNED Upgrade

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LG Electronics has announced the launch of a nationwide campaign aimed at celebrating decades of customer loyalty and technological heritage by searching for the oldest still-functioning LG television sets across the country.

The initiative, themed “The Oldest LG TV”, seeks to honour long-time customers whose LG screens have stood the test of time, while introducing them to the future of home entertainment through LG’s advanced AI QNED TVs.

For generations, LG televisions have been more than an electronic device in Nigerian homes, they have been silent witnesses to family milestones, cultural moments and shared memories.

This campaign bridges nostalgia with innovation, acknowledging the emotional connection Nigerians have built with the brand while showcasing LG’s leadership in AI-powered display technology.

The campaign features a storytelling -driven narrative that highlights community, heritage and the evolution of viewing experiences. Participants are invited to share the stories behind their long-serving LG TVs, transforming everyday screens into symbols of trust, resilience and innovation.

In creative twist, the campaign also introduces LG’s AI-enabled televisions as responsive companions that understand viewer preferences, recommend content and enhance picture quality in real time. This shift from nostalgia to futuristic interactivity underscores LG’s continued commitment to delivering smarter, more personalized entertainment solutions.

To participate, simply visit https://lgsearchcampaign.vercel.app/, upload a photo or video of your old LG TV and share the story behind it – how long you’ve had it and the memories it holds.

The winner walks away with a brand-new LG AI QNED TV, effectively trading legacy for luxury.

At its core, this campaign reminds us that technology is not only about pixels and processors, but about people. It’s about the laughter in the living rooms, the silence during tense match moments and the comfort of family routines.

By celebrating the oldest TVs still standing strong, LG is celebrating the people who kept the on, families who trusted the brand through changing times and evolving technologies. In doing so, LG isn’t just upgrading television, it’s upgrading memories into the future.

According to Mr. Choongbae Seok, General Manager, Media Entertainment Solutions, LG Electronics Nigeria, “The journey from our classic CRT Televisions to today’s AI QNED technology reflects how far both our customers and our innovation have come. Those early sets were built to last, and many are still functioning today, a testament to durability and consumer trust. This initiative allows us to honour that legacy while introducing a new era of intelligent viewing, where the screen does more than show content; it adapts, learns and enhances every moment”.

LG Display 2026 TV Models at InnoFest

LG Electronics (LG), a leader in AI-powered solutions for the home, outlined plans to accelerate growth in emerging markets at LG InnoFest 2026 MEA. The event, held in Abu Dhabi, provided a forum to share LG’s strategic direction and market outlook with regional partners. At the exhibition, LG displayed its premium 2026 AI TV lineup focusing heavily on advanced processing power, smarter picture and sound technologies. The flagship OLED evo G6 and 100-inch Micro RGB evo TVs are powered by the new Alpha 11 AI processor Gen 3 enabling faster and more intelligent performance. The OLED evo W6 Wallpaper TV, an ultra-slim television designed to sit flush against the wall like artwork uses true wireless connectivity, reducing cable clutter and creating a cleaner, minimal setup.


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African Leaders Highlights Africa’s AI Ambitions

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African leaders used the AU Summit in Addis Ababa over the weekend to sharpen the continent’s technology agenda, with Ethiopia positioning artificial intelligence (AI), digital infrastructure and connectivity as pillars of Africa’s economic future.

Opening the 39th African Union Summit, Ethiopian prime minister Abiy Ahmed outlined an ambitious vision to place Africa at the forefront of the global AI race, anchored by Ethiopia’s plan to launch what he described as Africa’s first AI-focused university.

“In 2020, Ethiopia established Africa’s first Artificial Intelligence Institute. Building on this foundation, we are preparing to launch an AI university anchored in the philosophy of Medemer, purposeful collaboration, to unite human values with machine intelligence and position Africa as a global leader in the age of intelligence,” Abiy told delegates. “

He framed AI not as a standalone sector, but as a cross-cutting enabler for governance, industry and social development. “Every river we manage, every city we design, and every digital platform we deploy must generate resilience, opportunity and dignity,” Abiy said. He further linked digital transformation to Agenda 2063’s long-term prosperity goals.

Beyond AI, the high-powered AU summit discussions highlighted digital identity, cross-border connectivity and telecom expansion as critical building blocks for an integrated African market. Ethiopia’s Digital Ethiopia 2030 roadmap, including its Faida digital ID ecosystem, was cited as a model for secure, interconnected public services.

Abiy pointed to aviation and telecom infrastructure as key accelerators for economic development across the continent. “Through Ethiopian Airlines, we connect people and markets. Ethio Telecom is expanding partnerships across Africa to bridge the digital divide,” he said.

The Ethiopian leader added that large-scale infrastructure projects are designed to anchor Africa deeper into global value chains.

The broader summit tech agenda also touched on regulatory harmonisation, digital trade and data governance, with leaders emphasizing that continental cooperation is essential to avoid fragmented digital markets.

UN Secretary-General António Guterres underscored the need for inclusive innovation, telling delegates that Africa’s digital rise must be “people-centered and opportunity-driven,” while African Union Commission Chair Mahmoud Ali Youssouf stressed coordinated policy frameworks to accelerate adoption.

“AI capability, digital infrastructure and unified regulation are no longer optional ambitions, but strategic imperatives shaping the continent’s competitiveness in the intelligence era,” he said.

 


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NITDA Explores Partnership with Trust Stamp on Digital Trust and Innovation

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By Naeemah Junaid

The National Information Technology Development Agency (NITDA) has held strategic discussions with representatives of Trust Stamp, a NASDAQ-listed global technology company, to explore potential areas of partnership aimed at strengthening Nigeria’s digital trust framework and advancing innovation within the digital economy.

The meeting, chaired by NITDA Director General, Kashifu Inuwa Abdullahi, focused on identifying collaborative opportunities aligned with Nigeria’s digital transformation agenda and the Agency’s strategic priorities for building a secure, inclusive, and innovation-driven digital ecosystem.

Inuwa emphasised that trust remains a critical foundation for the growth of the digital economy, noting that secure systems and strong cybersecurity frameworks are essential for driving innovation, economic growth, and national development. He stated that building trust in digital platforms and services is key to accelerating adoption and unlocking opportunities across sectors.

He reiterated NITDA’s mandate as a regulator to create an enabling environment through forward-looking policies and regulatory frameworks that support innovation rather than promote specific technologies. According to him, government interventions are designed to stimulate markets, create opportunities, and empower both businesses and citizens to participate fully in the digital economy.

The Director General further reaffirmed Nigeria’s openness to investments that strengthen digital infrastructure and enhance digital services, stressing that sustainable national development is best driven by private sector participation under supportive regulatory and policy frameworks. He called for continued engagement to ensure alignment with national priorities and effective integration into Nigeria’s digital ecosystem.

In his remarks, Trust Stamp Vice President, Jonathan Pasha, highlighted the company’s global experience in secure verification and trust technologies, describing its approach as partnership-oriented and focused on delivering long-term value within local ecosystems. He noted that the company prioritises collaboration with governments and private sector stakeholders to address local challenges and expand access to secure digital services.

Pasha referenced Trust Stamp’s ongoing operations in Nigeria, including its collaboration with a telecommunications provider to enhance SIM swap prevention and fraud detection capabilities. He also outlined the firm’s biometric tokenisation technology, which converts biometric data into secure, privacy-preserving representations, enabling verification processes without exposing sensitive information.

He explained that the technology supports secure verification, fraud prevention, financial inclusion initiatives, and the tokenisation of real-world assets, while being designed to function effectively in low-connectivity environments and on low-specification devices to expand access to digital services.

Both parties expressed interest in advancing technical-level discussions to identify specific areas of collaboration aligned with national priorities and Nigeria’s digital transformation objectives.

NITDA reaffirmed its commitment to fostering a secure and trusted digital economy through strategic partnerships, robust regulatory frameworks, and initiatives that promote innovation, inclusion, and sustainable growth.


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