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Nigerian Investors Launch $5b Cooperative Trust Fund for MSMEs

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A group of Nigerian investors has launched a $5 billion Cooperative Trust Fund aimed at building and strengthening micro, small, and medium-scale enterprises (MSMEs) across the country, in a bid to spur rapid economic growth.

The initiative, unveiled in Abuja over the weekend, is spearheaded by the AssuredInvest™ Cooperative Trust Fund, a multipurpose financial vehicle tailored to support grassroots enterprises across various sectors of the economy.

Speaking at the launch, the lead promoter, Benjamin Aduli, stated that the Fund is backed by institutional capital and governed by cooperative law, not securities law. He emphasized that the Fund aligns with the economic development goals of the current administration.

“This Fund is driven by clear cooperative use-cases—food production, mechanization, housing, education, clean energy, and digital inclusion,” Aduli explained. “It is supported by both government and relevant regulators to ensure it delivers on its objectives.”

Aduli further revealed that the Fund is being administered with oversight from trustee banks, insurance underwriters, and cooperative federations. Among the key partners are the Cooperative Financing Agency of Nigeria (CFAN), National Agricultural Cooperative Organisation (NACO), Cooperative Housing Federation of Nigeria (COHFON), and Akilaah National Cooperative Federation (Akilaah).

“What makes the AssuredInvest™ Fund historic is its demand-driven nature,” Aduli noted. “Unlike traditional financing models that flood the market with unsolicited capital, this Fund responds solely to verified cooperative demand. Whether it’s a rice farmer in Lokoja, a housing cooperative in Enugu, or an MSME cluster in Kaduna—this Fund addresses structured, real-world needs.”

Also speaking, Nathan Nwachukwu, CEO of Terra Industries, said his organization is partnering with the Fund to deploy drone services that will monitor agricultural activities.

“In the first phase, we are deploying surveillance across 40,000 hectares in Kogi State, protecting over 20,000 rice farmers operating under the MAIS Cooperative network,” he said. “Our drones will provide 24/7 aerial surveillance, real-time threat detection, data analytics, and situational awareness to bolster agricultural security.”

In her remarks, Dr. Esther Audu, Chairperson of Women in Agriculture, praised the initiative as a revolutionary step in cooperative financing across Africa.

“The AssuredInvest™ Trust Fund is Africa’s first demand-driven fund,” she said. “It doesn’t inject capital into speculative projects. Every kobo goes directly to real people, real businesses, and real communities. It is rooted in law, built on trust, and driven by a mission to uplift.”

She also lauded the use of drone-powered surveillance to secure farmlands, calling it “a bold leap forward for Nigeria’s agricultural future.”

“The launch of this surveillance system for 20,000 rice farmers in Kogi State is not just about protection—it’s about bringing digital intelligence into our food systems. This is the future, and Nigeria is leading the way,” she added.


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Lagos Launches Tele-Vet, Nigeria’s First Veterinary Call Centre

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L-r: Asst. Chief Veterinary Officer, Dr. Olawale Olatunde; Permsec, Ministry of Agriculture and Food Systems, Mr. Emmanuel Audu; Commissioner for Agriculture & Food Systems, Ms. Abisola Olusanya; Nitroswitch Quality Assurance Officer, Mr. Israel Oluwafemi; Asst. Chief Veterinary Officer, Dr. Tolulope Akin-Oluwole; and Pathology Veterinary Officer, Dr. Esther Onyinye, at the commissioning of Nigeria's first Tele-Veterinary Call Center at the Lagos State Animal Hospital, Oko-Oba, Agege.
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The Lagos State Government, through the Ministry of Agriculture and Food Systems, has launched TELE-VET, Nigeria’s first Tele-Veterinary Call Centre, marking a groundbreaking milestone set to transform access to expert animal healthcare using mobile technology.

Speaking at the event held at the Lagos State Ministry of Agriculture and Food Systems, Animal Hospital, Oko-Oba, Agege, the state’s Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, described TELE-VET as a transformative initiative that strengthens animal health systems, improves food safety, and accelerates agricultural innovation across the state and beyond.

She stated that technology continues to redefine global food systems, and Lagos, under the leadership of Governor Babajide Olusola Sanwo-Olu, remains committed to deploying digital solutions that enhance efficiency, empower farmers, and safeguard public health. The Commissioner explained that TELE-VET addresses long-standing challenges faced by farmers and pet owners, especially limited access to timely and professional veterinary care.

Ms. Olusanya highlighted that TELE-VET builds on the existing mobile platforms, M-Agric and M-Health, available on MTN and Glo networks, which provide daily expert tips, mentorship, and animal-care guidance. By dialing *20791#, users can subscribe for ₦100/day, ₦300/week, or ₦500/month, gaining instant access to a variety of services, while all active subscribers can access the Call Centre free of charge.

She added that the Call Centre will deliver emergency support, first-aid guidance, disease-prevention information, and livestock and pet care assistance, noting that the platform helps farmers reduce costs, save time, and access expert care without traveling long distances. She emphasized that TELE-VET will also enhance surveillance and early detection of zoonotic diseases, aligning with the One World, One Health framework that integrates human, animal, and environmental health.

The Commissioner further mentioned that TELE-VET sets the stage for future innovations, including livestock and pet health insurance, e-commerce for veterinary products, improved mobility for safe animal transport, and enhanced financing opportunities for farmers, positioning Lagos as a national leader in technology-driven agricultural transformation.

Earlier, the Permanent Secretary, Ministry of Agriculture and Food Systems, Mr. Emmanuel Audu, commended the initiative as a groundbreaking intervention that will significantly improve service delivery within the State’s veterinary ecosystem. He stressed that TELE-VET responds to the evolving needs of farmers and pet owners who require swift and professional support to enhance productivity and ensure animal well-being.

Mr. Audu noted that the Ministry has invested extensively in strengthening the infrastructure, technical systems, and human resources needed to operate a world-class veterinary call centre. He stated that the service is a strategic investment in Lagos State’s food security architecture, enabling efficient livestock health management and timely response to potential disease outbreaks.

The Permanent Secretary explained that the Call Centre will minimize animal losses, improve farm management practices, and provide timely advisory services to farmers, aligning with the Ministry’s mandate to promote sustainable agricultural practices across all 57 LGAs and LCDAs. He praised the collaboration among veterinary professionals, ICT partners, and technical teams that made the initiative possible.

Mr. Audu reaffirmed the Ministry’s commitment to continuously upgrading the TELE-VET platform to accommodate innovations that improve efficiency and expand service offerings. He encouraged residents to adopt the platform fully, noting that its success depends on widespread participation.

In his remarks, the Director of Veterinary Services, Dr. Rasheed Macaulay, stated that the launch of TELE-VET marks a new era in veterinary care delivery in Lagos State. He explained that the platform provides a practical solution to challenges such as limited manpower, delayed emergency response, and difficulties reaching farmers in remote areas by connecting residents directly to certified experts.

Dr. Macaulay added that TELE-VET will strengthen disease surveillance and reporting across the State, aiding early detection of animal diseases and preventing zoonotic infections. With real-time consultations, improved documentation, and faster escalation processes, the platform will support frontline veterinarians and promote safer, healthier food systems for all Lagos residents.


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PAPSS Cowry to Benefit Manufacturers, SMEs

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Manufacturers and small businesses are set to benefit from a new era of seamless cross-border payments, thanks to the launch of the Pan-African Payment and Settlement System- PAPSS Cowry, a game-changing payment platform.

This cutting-edge platform, backed by Afreximbank, the AU and AfCFTA, and recently launched in Lagos, promises to increase efficiency, reduce costs and boost trade across the continent as it connects 160 banks across 19 countries and positions Africa for a bigger share of its $329 cross-border market.

The platform delivers 120-second local currency settlement, removing USD bottlenecks, cutting FX friction and strengthening the African Continental Free Trade Area (AfCFTA) driven trade flows.

Mike Ogbalu, CEO of PAPSS, in his keynote address at the platform launch themed ‘Building an Interoperable and Sovereign Africa Payment Ecosystem for Trade and Economic Growth,’ explained that AfCFTA has provided a single market for the continent’s 1.9 billion people that needs a seamless cross-border payment platform to trade.

“We have created it as an ecosystem that will pack all of us together in a way that we are able to empower each other rather than compete,” he said.

“Create a centralised value that everybody can leverage without affecting the individual value proposition of all the entities that leverage this way,” he added.

He stated that the Pan-Africa payment rail has connected 19 countries and plans to expand to 40, adding that 160 leading commercial banks across the continent are connected to the platform.

“We are also now enabling fintech companies across the continent to be able to originate payments in one market and terminate them in another market,” he explained.

“PAPSS is that financial market infrastructure that allows for the processing of cross-border payments in local currencies and is able to do that in no more than 120 seconds,” he added.

He appreciated central banks across the continent for their support, saying that a governance infrastructure has been created to make sure the payment system continues to operate in the right way. He stressed that sovereign payments are critical for the continent’s survival.

Haytham EI Maayerigi, executive vice president – global trade bank, Afreximbank, stressed that African businesses still face real barriers, whose border payments remain slow, expensive, and impossible sometimes, with $5 billion lost yearly to third-currency routing.

He explained that the situation has made it difficult for small businesses to find trusted partners, affordable finance and adequate market information, noting that with AfCFTA advancing, it must be easy for firms to trade with each other.

He said Afrexim, which is a promoter of PAPSS, works daily to remove these obstacles. “Together with AfCTA and the African Union, we are building the institutional foundation of a truly integrated market, supporting a lot of the initiatives.”

“Through advisory, guarantees, certification and project preparation, we mobilise the capital that builds factories, logistic hubs, processing plants, energy systems, the backbone of African industrialisation.”

He stressed that capital alone will not deliver integration and that the African continental trade also needs a digital spine, a system that connects markets, trust, information, logistics, finance and payments.

Experts say Africa requires a better business environment to unleash its potential and drive intra-African trade. The experts noted that the PAPSS Cowry platform will help improve the ease of doing business across the continent.

Wamkele Mene, secretary general, AfCFTA Secretariat, described the platform as a key enabler of AfCFTA, giving its practical effect on the continent’s vision of a fully integrated African market.

“It operationalises financial sovereignty by enabling the seamless flow of funds needed to sustain the world’s largest free trade area, and by reducing the friction that has historically held back intra-Africa trade,” Mene said.

He noted that the continent has 42 currencies, which alone creates structural barriers, saying that when two African traders rely on a third-country currency to trade, the cost of doing business rises sharply.

“Our continent loses an estimated $5billion annually in currency conversion.” PAPSS addresses this bottleneck directly by enabling instant settlement in local currencies and reducing reliance on expensive corresponding banking corridors.”

 


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Afrilearn Expands Drive to Make Quality Education Attainable for African Children

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Africans are better educated today than they have been at any other time, with many African nations making strides towards ensuring access to quality education and lifelong learning for their citizens.

Afrilearn Expands Drive to Make Quality Education Attainable for African Children

Afrilearn

UNESCO’s report on Transforming Learning and Skills Development notes that delivering education well is not only a fundamental human right, it is also a critical ingredient of building solid foundations for the future, empowering people not just to develop the skills they will need for the workplace, but also ensuring that they can unlock their potential as members of society.

UNICEF estimates that there are 450 million school-age children in Africa in 2025, and this population is predicted to swell to over 600 million by 2050. However, although 75 million more African children are enrolled in school today compared to 2015, the number of out-of-school children has increased by 13.2 million to over 100 million during the same period. For Africa to actively participate in the global digital economy, it’s a continent-wide imperative to unlock not just access to education, but access to the resources that will help children thrive in education.

Harnessing technology to provide educational resources

Millions of children across the continent are eager but struggling to learn or are dropping out due to the high cost of quality education, outdated materials, and overburdened teachers. Schools also struggle with reliable web access – the Global Education Monitoring Report found that Africa has the lowest school connectivity globally, with most schools lacking even basic electricity, making reliable internet rare. Mobile penetration in Africa is far higher, yet many learning platforms are built for the web.

In 2020, frustrated by their own experiences, and tired of witnessing how young Africans were held back by a lack of access to quality education, a group of entrepreneurs started Afrilearn International Limited. Their goal was simple, but ambitious: to democratise access to quality education across Africa using a mobile-first solution.

The company started with ClassNotes.ng, which quickly became the #1 education platform in Nigeria, empowering students with curriculum-based class notes. By July 2022, Afrilearn had reached 1 million learners across Nigeria and Africa, a major step in delivering quality education to undeserved communities.

Now, this AI-powered K-12 learning platform is on a mission to make world-class education freely available to all African children by making learning fun, using gamified experiences to engage school learners with their studies.

The Afrilearn App for Students provides a comprehensive library of study materials and homework help. Learners can master a subject using the class notes, video lessons, quiz materials and games on the app, earning coins, and winning rewards along the way, while parents can track their children’s progress through learning reports. Afrilearn also provides adaptive practice for local and international exams through Exambly.com, which provides free exam practice for entrance, admission and matriculation exams across Africa.

Supporting educators is part of the process

To support educators, Afrilearn has built and refined its new AI-powered School Management Software, which is a smart platform for learning, administration, and managing school fees, reports and results.

The company collaborates with Schoolinka, a leading African teacher-training organisation, to co-create and distribute professional development resources, onboard teachers onto Afrilearn, and support schools with continuous training. This has significantly improved teacher adoption and classroom impact across the schools Afrilearn serves.

A constant evolution

The School Management Software offering was developed as part of the first cohort of the Microsoft and NVIDIA African GenAI Accelerator Programme. The collaboration allowed Afrilearn to leverage Azure AI and cloud infrastructure to enhance automation, learning personalisation and school analytics on the platform.

The company created a rebuilt, AI-powered SMS programme during the Accelerator Programme, and plans to introduce upgrades including adaptive learning profiles, predictive analytics and automated fee management for schools, and offline-first learning flows. Teachers will soon benefit from enhanced AI tools for lesson preparation and assessments.

With Microsoft’s support, Afrilearn uses GitHub for its engineering workflow, enabling the company to release updates faster and with fewer errors. Visual Studio Code is the team’s preferred integrated development environment, as its integration with Axure extensions, debugging tools and GitHub repository reduce friction across engineering tasks. Collectively, these tools, alongside Azure, have improved delivery speed, strengthened reliability and enabled the team to build a more stable, scalable AI education platform. And for a distributed team working in multiple countries, Microsoft’s collaboration tools, Teams and Sharepoint, have proven invaluable for daily contact and communication.

Broadening access to education across Africa

To date, Afrilearn has reached more than 4 million learners and more than 800 schools across more than 10 countries. More than 80% of users report achieving improved learning outcomes within a week of consistent usage, while the AI-powered personalisation improves learners’ grades by up to 52 percent within eight weeks of consistent study. Schools implementing the Afrilearn management software have saved more than 10 administrative hours per week and have boosted their fee collection by 35 to 40 percent.

The Afrilearn team has big ambitions to scale into additional countries across Africa, deepening partnerships with UNICEF and the African Union to scale their impact. In addition to Nigeria, Afrilearn serves learners in Ghana, Liberia, Sierra Leone, Gambia and the wider diaspora.

“At Afrilearn, we’re the ecosystem closing the gap between Africa’s potential and its future, where no child is left behind because of where they live or how much their parents earn. We’re especially excited about our upcoming product upgrades that make personalised learning even more accessible to children at home and in school,” says Isaac Oladipupo, CEO at Afrilearn. “Our goal is to reach 10 million learners across 12 African countries in the next 36 months. We believe that every child deserves a quality education that positions them for future success.”


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