African technology start-ups will receive a $46 million (€40 million) commitment from EIB Global, the development arm of the European Investment Bank (EIB).

The funds will be deployed through the first Africa-focused investment vehicle from European venture capital (VC) firm Speedinvest.

The Speedinvest Africa Fund, which has a total target size of €200 million, targets companies across innovation hubs in Egypt, Morocco, Nigeria, Kenya, and South Africa.

It also invests in high-potential markets, including Ghana, Côte d’Ivoire, Cameroon, the Democratic Republic of Congo, Tunisia, Tanzania, and Uganda.

The investment strengthens EU–Africa ties, supports digital transformation, and promotes inclusive economic growth, says the EIB.

The strategy is designed to improve digital and financial inclusion while enabling start-ups to scale across borders by strengthening linkages between African and European ecosystems. Technology has the power to turn good ideas into real impact, says Karl Nehammer, vice-president of the EIB.

By backing this vehicle, it is enabling African innovators to scale, access new markets, and build sustainable businesses, says Nehammer.

The fund focuses on technology-enabled and mobile-based services across payments, healthcare, mobility, and education.

This aligns with the EU’s Global Gateway priorities and is expected to deliver social benefits, including job creation for youth and expanded access to digital banking for underserved communities.

At least 30% of the vehicle’s capital will support companies advancing gender equality, including those with women as founders, employees, or consumers.

With EIB Global support, the firm is deepening its long-term commitment to backing founders across Africa while strengthening enduring bridges between Africa and Europe, says Oliver Holle, CEO and managing partner of Speedinvest.

Speedinvest has previously backed African growth-stage companies, including mobility fintech Moove and digital bank FairMoney.

By combining a local presence with a European network of operators, sector expertise, and follow-on capital, the firm aims to help founders scale regionally and internationally, says Holle.

The fund will be managed by partners Deepali Nangia and Rana Abdel Latif, with a new African office planned to support its local operations.

Three individuals connected to a US tech firm have been indicted by the United States Department of Justice (DOJ) for their alleged role in a massive scheme to smuggle billions of dollars worth of restricted Nvidia AI chips to China, bypassing strict export controls.

Nvidia Chip

Prosecutors accuse the suspects of using fake documents, dummy equipment, and even hair dryers to tamper with labels in a bid to dodge compliance checks.

The plot centred on high-performance semiconductors from Nvidia, which are tightly regulated by the US due to fears they could boost China’s military and AI capabilities.

Yih-Shyan “Wally” Liaw, a US citizen and co-founder of California-based Super Micro Computer (a server maker), has been charged alongside two Taiwanese nationals: Ting-Wei “Willy” Sun and Ruei-Tsang “Steven” Chang (who remains at large).

The group reportedly partnered with a Southeast Asian firm to order servers packed with banned chips. They falsified records claiming the gear would stay in Asia, but repackaged and shipped it covertly to China.

Tactics included deploying thousands of fake “dummy” servers for audits, while real restricted tech was diverted. Sun allegedly used household hair dryers to swap serial numbers and labels.

Super Micro Computer confirmed the suspects’ links but stressed it faces no charges and is aiding the probe.

The DOJ estimates the intermediary bought $2.5 billion in equipment, illegally funneling vast amounts of controlled AI tech to China without licences.

This case underscores escalating US-China tech rivalry, where advanced chips are viewed as vital for national security and economic edge.

In a parallel probe, two Chinese nationals were earlier charged for rerouting chips via Malaysia, Singapore, Hong Kong, and mainland China. US authorities warn of tough penalties for evasion.

This development signals intensified global scrutiny on tech supply chains amid superpower tensions.

United Kingdom and Nigeria have agreed on a three-year strategic plan to tackle organised immigration crime and strengthen border security cooperation.

The initiative was announced in a joint statement by the UK Home Office following the state visit of Bola Ahmed Tinubu to the UK.

The agreement was signed by UK Home Secretary Shabana Mahmood and Nigeria’s Minister of Interior, Olubunmi Tunji-Ojo.

According to the statement, the framework focuses on combating visa fraud, improving border management systems, and enhancing legal cooperation between both countries.

Under the plan, Nigeria is expected to review its legal framework to impose stricter penalties on immigration-related offences, particularly those involving forged or fraudulent travel documents.

Both countries also pledged to strengthen laws and enforcement mechanisms governing visa processing and travel documentation.

A key component of the agreement is the expansion of the UK–Nigeria Organised Immigration Crime Unit, with new memoranda of understanding centred on intelligence sharing and joint operations.

The UK government will further support Nigerian border agencies through training programmes and capacity-building initiatives.

The partnership also places emphasis on the protection of vulnerable migrants, particularly women and children, while enhancing research, document verification systems, and migration monitoring processes through the UK–Nigeria Migration, Justice and Home Affairs Dialogue.

Both governments described the agreement as a reflection of their shared commitment to tackling transnational crime and improving migration management through closer collaboration.

The deal forms part of broader engagements during Tinubu’s visit, which focused on strengthening bilateral relations across security, migration, and economic development.