E-Business
Africa Tech Hub Ecosystem Surges with Nigeria @Top

Technology hubs are thriving in Africa, as the continent looks to create the next ‘unicorns’ – privately held start-up companies valued at over $1 billion.
This is according to a recent report by Briter Bridges and AfriLabs, which notes that as of October, 643 hubs were identified across Africa, which includes co-working spaces, incubators, accelerators, and hybrid innovation hubs affiliated with government, universities, or corporates.
“However, 25% of these hubs only offer co-working facilities and no specific business support programme for start-ups and entrepreneurs, but the majority – almost 500 of the hubs – provide some degree of in-kind or cash support,” comments Dario Giuliani, founder of Briter Bridges.
The report says Nigeria has the most hubs per country, with 90, followed by SA’s 78, Egypt (56) and Kenya (50).
The survey was submitted to over 600 hub managers based on Briter Bridges’ latest data on innovation hubs in Africa.
The respondents differ by type, legal structure, location, and support criteria such as sectors of preference. Ninety-two responses represent 15% of the total number of identified, eligible, organisations.
The respondents were split between private, for-profit organisations and a mix of non-profit, academic institutions, programmes and associations, and were distributed across 34 countries.
Because almost half of the existing hubs consist of non-profit organisations or donor-funded organisations, the discussion around financing received and the allocation of funds has been crucial, the report says.
It notes that 60% of all respondents claimed to receive external funding and, among the donors, corporate sponsors, philanthropic organisations and NGOs have proven to be the most active funders.
The majority of hubs surveyed claimed to have received less than $100 000 in funding from various sources.
Giuliani explains that several hubs establish strategic affiliations with corporates, which often include a degree of asset-sharing such as cloud, servers, optic fibre, and the like.
“Several hubs also partner with their local government or international subsidiaries to get support for their activities. According to the surveyed hubs, the majority of funding received is largely used to cover operational costs and programmes,” he says.
“Wages and facilities still present the highest costs on average, while energy and rent-related costs vary respectively depending on whether the hubs are located in areas with unreliable access to electricity or in costly neighbourhoods.”
The survey highlights that hubs adopt three main revenue streams – a membership fee to use facilities; donor funding to both sustain operations and run start-up support programmes; and consulting, which was identified as the largest additional revenue stream by 40% of the hubs.
Giuliani points out that such consulting often takes the form of innovation-related research and programme implementation for specific donors.
In addition, he says, hubs with enough space capacity charge rent for events, while others offer paid training or partnership fees.
According to the report, hubs typically offer two types of support – in-kind, which includes training, advice and facilities; as well as financial support through programmes.
Among the respondents, 94% (six respondents left the answer blank) run start-up programmes as part of their business and, among these, the most common programmes last 3-6 (35%) and 6-12 months (23%).
In-kind support comes in the form of one-to-one mentorship or through workshops and bootcamps.
“The fact that only 40% of the surveyed hubs offer funding to start-ups denotes the high diversity in the type of support that such organisations provide,” says Giuliani.
“Equity investment (30%) remains the most common type of funding although, as explained, hubs are often endowed with donor or sponsor money which is used for funding – often through competitions or at the end of an incubator or an accelerator programme.”
He says this type of cash injection is typically in the form of grants or non-equity (23% and 13%).
“Almost 25% of the funding is also in-kind and it is not uncommon to see mixed funding rounds including in-kind and equity investment. Finally, a small proportion includes debt financing (12%).”
E-Business
Nigeria Takes the Lead in the Global WSIS+20 Digital Agenda

Nigeria has unveiled a comprehensive, multi-pronged strategy designed to localise WSIS+20 commitments. This roadmap accelerates national transformation by prioritising robust infrastructure, transparent internet governance, and advanced cybersecurity through deep stakeholder collaboration.

Unveiled in New York at the Nigerian high-level side event titled “Re-Imagining Digital Cooperation for Sustainable Development: From WSIS+20 Vision to Local Action,” the strategy cements Nigeria’s position as a primary architect of the world’s digital future.
Speaking at the event, the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE represented by Director, Corporate Planning and Strategy, Dr. Dimie Shively Wariowei said Nigeria’s approach is deliberately aligned with the four core activity areas identified under the ongoing WSIS+20 review process.
According to him, the focus areas provide a practical framework for translating global digital commitments into measurable national outcomes, ensuring that international resolutions drive inclusive growth and sustainable digital development at the country level.
Inuwa identified digital infrastructure as the foundation of effective localisation, noting persistent challenges in extending connectivity to underserved and remote communities. Beyond infrastructure gaps, he highlighted affordability constraints and digital literacy deficits, stressing that addressing these issues remains central to Nigeria’s digital inclusion drive.
He explained that government alone cannot shoulder the burden of nationwide digital infrastructure deployment, given Nigeria’s vast geographical spread, hence the adoption of collaborative Public-Private Partnership (PPP) models. He disclosed that Nigeria, in collaboration with the World Bank, is implementing a major fibre-optic project spanning about 90,000 kilometres nationwide to boost connectivity.
The NITDA DG also revealed that the current National Broadband Plan, which has guided broadband expansion in recent years, is nearing completion, with plans underway to renew and reposition it for the next five years. The renewed plan, he said, will strategically target increased broadband penetration as a catalyst for digital access and economic growth.
On internet governance, Inuwa referenced Nigeria’s active participation in the Internet Governance Forum (IGF), noting that the country successfully hosted its annual national IGF. He said the forum operates on a multi-stakeholder model that brings together government, the private sector, civil society and the technical community to foster cooperation and informed policy dialogue.
Cybersecurity, he added, remains a critical pillar of Nigeria’s localisation efforts. He cited the existing Cybersecurity Act and ongoing efforts to strengthen the legal framework through a reviewed version currently awaiting parliamentary approval. These measures, he said, are designed to mitigate risks associated with increased internet use and to protect users and critical digital infrastructure.
Inuwa further stressed Nigeria’s ambition to play a leadership role in advancing digital cooperation across Africa through inclusive, multi-stakeholder engagement. He underscored the importance of coordinated national data collection, noting that reliable, country-specific data is essential for tracking progress and presenting Africa’s digital development story on the global stage.
He concluded that sustained engagement and follow-up actions arising from the WSIS+20 review would strengthen digital cooperation among African countries and ensure that global digital commitments translate into tangible national and regional impact.
Stakeholders commended Nigeria’s efforts in the digital space, acknowledging the country’s growing role in shaping Africa’s digital future.
Earlier, Ms. Jennifer Chung, Co-Convener of the Informal Multi-Stakeholder Sounding Board (IMSB), praised Nigeria for convening a broad-based, multi-stakeholder delegation and for its commitment to the meaningful implementation of WSIS+20 outcomes.
Chung stressed the growing demand for localised WSIS follow-up mechanisms, noting that platforms such as the annual IGF, National and Regional IGF Initiatives (NRIs), and youth-led forums are vital for tracking progress towards the 2030 Agenda and Africa’s Agenda 2063.
She described the WSIS+20 review as a critical step toward effective monitoring, reliable data collection and evidence-based evaluation, particularly for developing countries in the Global South. According to her, these measures are essential to achieving WSIS targets and ensuring that no region is left behind.
Drawing parallels with the Asia-Pacific region, Chung noted that challenges around affordable and meaningful connectivity remain widespread across developing economies. She emphasised that expanding broadband penetration and reducing the cost of access are crucial to closing digital divides in Africa, Asia-Pacific and other parts of the Global South.
She also highlighted the need to enable active citizen participation in emerging technologies, including artificial intelligence and future innovations such as quantum technologies, stressing that inclusive digital access is key to maximising the benefits of digital transformation.
Reflecting on the WSIS+20 review process, Chung praised the innovative and inclusive approach adopted through the informal multi-stakeholder sounding board, describing it as one of the first of its kind in global digital governance. She called for sustained collaboration among governments, the private sector, civil society and the technical community to carry the WSIS vision from global commitments to local action.
E-Business
UBA Partners CIG Motors, Lagride, Launches $100m “Drive to Own” Scheme

United Bank for Africa (UBA) Plc has announced a $100 million financing partnership with CIG Motors, Lagride and the Lagos State Government to promote urban mobility and financial inclusion through a scheme tagged “Drive to Own.”

Group Managing Director/CEO, United Bank for Africa(UBA) and, Chairman, LagRide, Chief Diana Chen, flagged by LagRide drivers, at the signing ceremony of $100 Million Expansion Facility, strengthening smart mobility, driver asset ownership of over 3,500 cars, financed by UBA in partnership with Lagos State Government and LagRide, held in Lagos on Tuesday.
The initiative, unveiled on Wednesday in Alausa, Lagos, will empower 3,500 drivers in the state by enabling them to own vehicles with an equity contribution of 10 per cent of the total cost, while the balance is payable over 48 months.
UBA’s Group Managing Director/CEO, Oliver Alawuba, described the scheme as transformational, noting that it would foster inclusive economic growth, support MSME development and create opportunities for the younger generation.
“This partnership with Lagride is transformational. It will drive inclusivity for economic growth and ensure progress for everyone,” he said.
Alawuba shared a personal story, recalling that his father worked as a driver and was able to fund his education through that income. He said the scheme would provide similar opportunities for many families.
UBA’s Head of SME Banking, Babatunde Ajayi, said the partnership reflected a rethinking of traditional banking models.
“Not every business has a shop. Some businesses have wheels. Every commercial driver is running a business, yet they have remained outside formal finance. We designed credit that fits their reality,” he said.
Chairman of Lagride, Diana Chen, said the company had built a data-driven and credit-ready mobility platform for drivers, stressing that transportation remained the backbone of Africa’s economic future.
“Lagride now stands as the most structured, data-driven and credit-ready mobility platform in Nigeria,” Chen said.
The partnership aligns the strengths of the three organisations, with UBA providing financial support, CIG Motors offering viable business opportunities, and Lagride delivering a technology-driven platform to ensure sustainable livelihoods for driver-partners.
E-Business
Check Point Reveals Nigeria as Second Most Targeted African Country for Cyberattacks in November

The November 2025 Global Threat Intelligence report released by Check Point Research on Tuesday, shows Nigerian organisations faced an average of 3,374 cyberattacks per week.

Making the country as one of the primary targets for cybercriminals in Africa last month, with a record of a staggering volume of digital threats despite an overall decline in attacks across the continent.
The report shows that this figure places Nigeria second among the four major African nations analysed, trailing only Angola, which topped the list with 4,251 weekly attacks per organisation.
While Africa as a whole saw a 13 percent year-on-year decrease in cyber incidents, Nigeria’s high numbers reveal a persistent vulnerability within its digital infrastructure. Kenya and South Africa followed Nigeria with 2,384 and 1,863 weekly attacks, respectively.
The report also identified government institutions and financial services as the most targeted sectors across Africa. Globally, the education and research sector remained the most frequent victim, hit by an average of 4,656 attacks per week.
A significant highlight of the report is the emerging threat posed by Generative Artificial Intelligence (GenAI). Check Point Research found that one in every 35 GenAI prompts submitted within corporate networks globally posed a high risk of sensitive data leakage.
In Nigeria and abroad, employees are increasingly using AI tools that operate outside of formal security frameworks. The report noted that 87 percent of organisations using GenAI were affected by ‘high-risk’ prompts, which often included the input of proprietary code, customer data, or internal communications into public AI models.
Ransomware continues to be a primary tool for extortion, with global incidents rising by 22 percent year-on-year. While North America remains the most targeted region for ransomware, the impact is increasingly felt in emerging markets like Nigeria.
The most active ransomware groups identified in November were Qilin, Clop, and Akira, which primarily targeted industrial manufacturing and consumer goods sectors.
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