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Asoko Insight Secures $1.35m Seed Funding for Rollout

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Rob Withagen, co-founder and Managing Director of Asoko Insight
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Asoko Insight, the leading-edge provider of corporate information and market intelligence on African growth markets, has completed a $1.35 million fundraising round, as it accelerates its rollout across the region’s most dynamic economies.

The new funds will be used to deepen Asoko’s research and analysis of more than a thousand privately held companies in Nigeria, Kenya and Ghana, the company’s top markets, and to extend regional operations and build out the technology behind its digital platform.

Asoko represents a new and innovative approach to conducting business development and due diligence.

In building the continent’s leading business intelligence platform, Asoko will lower the cost of doing business, and make available intelligent and regularly updated information for regional and global corporates, investors, lenders, professional service providers, DFIs and governments looking to engage with African companies.

Rob Withagen, co-founder and Managing Director of Asoko Insight, said: “This new funding will allow us to give customers insight on even more companies across Africa, while adding analytics in a seamless user experience. Africa’s got great corporations. Now it has great corporate data, available to everyone.””

The round was led by North Base Media, an international media-investment group specializing in growth markets, and CRE Venture Capital, an investment firm focused on technology-enabled businesses across Sub-Saharan Africa. NBM and CRE join a group of prominent angel investors, such as Emergo Partners and J.E. Berman Associates as shareholders.

“The rapid growth and modernization of African national economies is creating enormous demand for sophisticated, reliable information about business and companies,” said NBM Managing Partner Marcus Brauchli, who will join Asoko’s board.

He is a former managing editor of The Wall Street Journal. Also joining the board for NBM will be Stuart Karle, NBM’s general counsel and a former chief operating officer of Reuters News.

Jonathan Berman, CEO of J.E. Berman Associates and author of “Success in Africa: CEO Insights from a Continent on the Rise,” continues to serve as independent director.

Pardon Makumbe, founding partner at CRE Venture Capital observed, “One of the longest standing, albeit understated, impediments to doing business in Africa is the scarcity and price-tag of high quality, intelligent and actionable corporate and market information. Asoko’s pan-African business intelligence platform is tackling this challenge head-on, and will transform how people do business in Africa.” Pardon, a former Principal at EL Rothschild, will serve as a Board Observer.

Asoko Insight provides data and analysis on African companies to global corporates, investors, governments and African players.

It was established in 2013 with a core mandate to improve the availability and quality of corporate data in Africa’s most promising economies. The company is headquartered in London and operates through research bases in Accra, Lagos and Nairobi.

NBM is an investment firm focused on media, journalistic enterprise and digital-driven opportunities in growth markets.

CRE Venture Capital invests in and partners with visionary entrepreneurs in technology-enabled startup companies in Sub-Saharan Africa.

J.E. Berman Associates invests in young companies focused on Africa with extensive growth potential.

The firm also advises a small number of Fortune 200 companies and major investors with African interests.

Emergo Partners is a late-stage accelerator and venture capital firm dedicated to emerging and frontier markets.

 

 

 

 


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NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

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The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.

Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.

“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.

Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.

“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.

He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.

“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.

During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.

Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.

“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.

The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.

In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.

Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.

The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.

 


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NRS Takes Over Mineral Royalties Collection Under New Tax Laws

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Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS Takes Over Mineral Royalties Collection Under New Tax Laws

NRS

The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.

Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.

NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.

Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.

The move aims to streamline revenue collection while fostering mining growth.


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Microsoft Revamps Copilot in Workplace AI Push

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Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.

The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.

Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.

Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.

“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.

Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.

A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.

The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.

Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.

The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.

 


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