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British International Investment Commits $20m in Moove a Nigerian Fintech Mobility Firm

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L-R: Benson Adenuga, Head of Office and Coverage Director of Nigeria, British International Investment; British High Commissioner, H.E. Catriona Laing CB; Jide Odunsi, co-Founder and CEO, Moove; Nick O'Donohoe CMG, Chief Executive Officer, British International Investment.%
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British International Investment (“BII”), and Development Finance Institution (DFI), have announced a US $20 million, 4-year structured credit investment in Moove – a mobility fintech democratising access to vehicle ownership in Africa.


L-R: Benson Adenuga, Head of Office and Coverage Director of Nigeria, British International Investment; British High Commissioner, H.E. Catriona Laing CB; Jide Odunsi, co-Founder and CEO, Moove; Nick O’Donohoe CMG, Chief Executive Officer, British International Investment.

The investment reflects BII’s focus on mobilising capital to build self-sufficiency and market resilience in Nigeria, and improve access to inclusive economic opportunities while helping to catalyse the country’s boundless entrepreneurial ambition.

Last night, the British High Commissioner in Nigeria, H.E. Catriona Laing CB and CEO of BII, Nick O’Donohoe, co-hosted a business reception in Lagos to celebrate the launch of BII’s new name and reiterate the DFI’s continued ambition to scale up investment that will boost key economic sectors in Nigeria.

The event was held at the British Deputy High Commissioner’s Residence in Ikoyi, bringing together key leaders in business and BII’s investment partners from across the country. BII’s leadership outlined the organisation’s strategy to deliver productive, sustainable and inclusive investment and pledged to deepen its capital commitments to support the emergence of more breakthrough Nigerian businesses providing progressive solutions to urgent and complex development challenges.

British High Commissioner, H.E. Catriona Laing CB, said: “It’s a pleasure to be in Lagos to mark the launch of British International Investment, and to host Nick O’Donohoe during his visit to Nigeria.”

“BII forms an important part of the UK’s package of tools and expertise to help Nigeria build their pipeline for investment and scale up infrastructure investment, in particular to achieve clean, green growth.”

“The launch of BII marks a continuation of this partnership, and we look forward to seeing BII’s support expand and diversify in Nigeria.”

In his keynote speech, Nick O’Donohoe highlighted BII’s 74-year history in Nigeria, from its first investments in 1949, in West African Fisheries and Cold Store, to the organisation’s pioneering role in supporting Nigeria’s first private equity fund – African Capital Alliance’s Capital Alliance Private Equity Fund I (CAPE I).

On how BII’s new five-year strategy is driving its investment in the world’s first mobility fintech, Moove, O’Donohoe comments: “Investing in the prosperity of Nigeria’s growing population requires innovative new partnerships that can leverage the country’s abundant capabilities and expertise. In Moove, BII has a partner that aligns with our commitment to back dynamic tech-enabled businesses that can help accelerate impact in Nigeria by strengthening the country’s informal transport industry.

“I am delighted that not only will BII’s investment help to create jobs and provide entrepreneurial self-starters with the means to own their vehicles, but Moove’s clear focus on gender diversity will foster inclusive economic opportunities for women, both within the company’s workforce and among its drivers.”

Founded by serial entrepreneurs, Moove is democratising access to vehicle ownership by providing revenue-based vehicle financing and financial services to mobility entrepreneurs. The mobility fintech is creating sustainable employment opportunities to empower those otherwise excluded from financial services by embedding its alternative credit scoring technology onto ride-hailing, e-logistics and instant delivery platforms, and using proprietary performance and revenue analytics to underwrite vehicle loans.

Since its launch in 2020, Moove has rapidly expanded its operations within Nigeria and has entered into new African markets including Ghana, Kenya, Uganda and South Africa, as well as Europe, Middle East and Asia markets. Currently, mobility marketplaces such as Uber face difficulty meeting rising rider demand, due to limited access to car supply and onerous and inflexible auto leasing products for aspiring drivers. The funding from BII will enable Moove to purchase and import brand new fuel-efficient cars into Lagos, which will be leased to drivers who can then earn their way to asset-ownership, over a three to four-year period. This will also alleviate one of the key blockages to the development of ‘ride-hailing’ transportation infrastructure in Nigeria’s commercial capital.

Ladi Delano, co-founder and co-CEO at Moove, said, “We’re incredibly proud to welcome onboard a world-class partner such as BII, whose strategic support will play a key role in our mission to build the world’s largest integrated vehicle financing platform for mobility entrepreneurs.

With our new funding, we’re now in an even stronger position to use our technology and productivity data in creating a more inclusive financing ecosystem, whilst also tackling the unemployment problem affecting over a third of Nigerians by generating the opportunity for more seamless and sustainable employment.”

Nigeria is the BII’s biggest investment market in Africa, with a portfolio of nearly US $570 million, through more than 100 businesses and 43 funds, which collectively support almost 45,000 jobs across the country in 2020.

The DFI’s investments in Nigeria, both direct and indirect through various impact-led funds and intermediaries, cover a variety of sectors from clean infrastructure and energy to digital infrastructure, food and agriculture, financial services, manufacturing and logistics. A highlight of BII’s key investment activities in Nigerian include:

Backing Nigeria’s private equity industry by investing in Capital Alliance Private Equity Fund I (CAPE I), managed by African Capital Alliance (ACA); CardinalStone Capital Advisors Growth Fund; Nigerian-led Synergy Private Equity Fund II, Fund for Agricultural Finance in Nigeria (FAFIN), Verod Growth Fund III, Uhuru Growth Fund, among others.

–       Bolstering Nigeria’s financial institutions to boost financial inclusion through a US $100 million loan to First Bank of Nigeria to support women and small business owners; a US $75 million investment in Stanbic IBTC Bank in 2020 to expand lending to businesses in critical sub-sectors; and helping to fund a $162.5 million syndicated loan package to Nigeria’s Access Bank Plc to increase funding to local micro, small, and medium-sized enterprises.

–       Supporting the country’s food and agriculture sector through US $140 million investment in Indorama Eleme Fertilizer and Chemical Limited which is boosting fertilizer production in Nigeria and supporting local jobs.

–       Catalysing early-stage innovation and entrepreneurial activities in Nigeria by investing in Venture Capital funds including US $25 million invested in TLcom, US $5 million in TradeDepot and US $5 million in TeamApt.

–       Expanding access to clean and affordable clean energy through investments such as Gridworks, a pan-continental equity investment platform; M-KOPA, the world’s largest pay-as-you-go solar energy companies; and Lumos, an off-grid solar company that offers access to affordable and reliable electricity to homes and businesses in Nigeria.

British International Investment has an office in Lagos, Nigeria, which is led by Benson Adenuga.

 

 

 

 

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NCDC Predicts Cholera Outbreak in 10 States as Heavy Rains Loom

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Nigeria Centre for Disease Control and Prevention (NCDC) has warned of an imminent cholera outbreak in 10 states following forecasts of heavy rainfall and possible flooding across parts of the country.

NCDC Predicts Cholera Outbreak in 10 States as Heavy Rains Loom

The agency said flood predictions issued by the Federal Ministry of Environment and the Nigerian Meteorological Agency (NiMet) indicated that parts of Adamawa, Enugu, Kaduna, Kogi, Niger, Osun, Oyo, Plateau, Taraba and Kwara states may experience heavy rainfall and flooding between April 13 and 17, 2026.

In a public health advisory signed by Dr Jide Idris, director-general, the NCDC noted that the alert was coming at a critical time as Nigeria enters the seasonal period when cholera cases typically begin to rise.

The agency explained that recent national surveillance data already showed increasing cholera activity in multiple states, warning that flooding could rapidly worsen the situation through contamination of drinking water sources and disruption of sanitation systems.

According to the NCDC, flooding during this period may increase the risk of cholera and other diarrhoeal diseases, malaria and other mosquito-borne infections, as well as illnesses linked to contact with contaminated floodwater.

It also warned of possible injuries, including drowning and snakebites, as well as disruption of access to healthcare services in affected areas.

The agency stressed that the risks were preventable with early action, urging residents in at-risk communities to use only safe water for drinking and cooking by boiling, chlorinating or using bottled water.

It also advised regular handwashing with soap and clean water, avoiding contact with floodwater, and maintaining proper sanitation including safe disposal of waste and avoiding open defecation.

The NCDC further urged Nigerians to store and handle food safely to prevent contamination, sleep under insecticide-treated nets to reduce mosquito bites, and seek immediate medical attention if they experience diarrhoea, vomiting, fever or any symptoms of illness.

The agency said community leaders and local authorities must support sanitation activities and drainage clearance, promote hygiene practices and access to safe water, encourage early reporting of suspected illness, and ensure accurate public health information is widely shared.

On its part, the NCDC said it was working closely with State Ministries of Health and relevant partners to strengthen surveillance, enhance preparedness and support rapid response efforts in affected states.

It added that state governments were being supported to activate multisectoral response mechanisms, especially in water, sanitation and emergency management.

The agency maintained that early action, community vigilance and prompt care-seeking could prevent outbreaks and save lives.


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Building Systems that Outlive Founders

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By Bidemi Oke

There is a quiet misconception in many growing companies that vision alone is enough to sustain momentum. Founders are often the engine because they are decisive, driven and deeply involved. But what happens when the engine steps back?

That question is where real companies are separated from fragile ones. Building something that outlives a founder is not about removing their influence; rather, it is about translating that influence into systems, repeatable, observable and transferable structures that do not rely on constant presence. Without this, growth becomes personality-dependent, and scale becomes inconsistent.

At the early stage, founder-led execution works. Decisions are faster, direction is clearer, and there is less friction. But as the company grows, that same model becomes a bottleneck. Every approval, every escalation, every strategic shift begins to orbit one person. The business does not slow down because of external pressure; it slows down because its internal architecture cannot carry its own weight.

Usually, “system” is often misunderstood. It is not just about tools, dashboards or policies. It is about designing how decisions are made, how information flows and how accountability is structured. It is about making sure that the logic behind actions is visible, not assumed.

For example, a strong system answers questions before they become problems. What triggers a decision? Who owns it? What data informs it? What happens if it goes wrong?

When these are unclear, teams default to escalation. When they are clear, teams operate with autonomy.

This is where many founders hesitate. System-building feels like losing control. In reality, it is the only way to extend control without being physically present. It shifts leadership from being reactive to being embedded.

One of the most overlooked aspects of building enduring systems is Documentation.

Now, not as a formality but as a strategic asset. Decisions that are not documented become opinions. Processes that are not documented become inconsistent.

Over time, this creates invisible friction. Teams solve the same problems repeatedly but differently each time.

Documentation, when done well, becomes institutional memory. It ensures that the company remembers even when individuals move on.

Another critical layer is Feedback Loops. Systems should not be static; they must evolve with the business. This requires structured ways to capture what is working, what is failing and what needs refinement. Without feedback loops, systems become outdated. With them, systems become adaptive.

There is also a cultural dimension to it. Systems do not operate in isolation; people execute them. If the culture rewards speed over clarity, systems will be bypassed. If the culture values accountability, systems will be strengthened. The goal is alignment where systems reinforce behaviour and behaviour reinforces systems.

In fast-moving industries, this becomes even more important, take fintech, for instance. The pace of regulatory change, market volatility and user expectations demands consistency under pressure.

Companies that rely solely on founder instinct struggle to keep up, while those that invest in structured decision-making, risk management frameworks, and operational clarity are better positioned to adapt.

This is something we are increasingly seeing in companies like FlashChange, where the focus is not just on growth, but on building operational resilience. The emphasis is shifting from “who is making the decision” to “how decisions are made.” That shift, while subtle, is very powerful. It creates a foundation that can support scale without losing direction.

Ultimately, building systems that outlive founders is about redefining leadership. It is not measured by how many decisions a founder makes, but by how many decisions the organisation can make without them.

The strongest companies are not those where the founder is always present. They are the ones where the founder’s thinking is quietly embedded, shaping actions, guiding priorities and influencing outcomes, even in their absence. That is how legacies are built.

Not through constant control, but through systems that carry intent forward.

 Bidemi Oke is the Chief Executive Officer of FlashChange, a fintech platform focused on secure digital asset exchange. He is an entrepreneur and vibrant leader, recognised for driving innovation and redefining access in the financial technology industry.


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Martell’s Monumental Journey of Audacity Reaches Abuja

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After kicking off in Lagos, Martell’s nationwide campaign, Martell On The Move, has officially arrived in Abuja. The road trip features The Swift Ascendant, a monumental 14 foot art installation that is traveling across the country to connect with people through local art and nightlife.

The installation is a physical tribute to the Swift, Martell’s iconic sigil and a symbol of freedom and constant motion. This bird represents a spirit that never stands still, much like the “Standout Swift”. A Standout Swift is anyone who embodies that same drive, rising above the ordinary to redefine their own path.

The Swift Ascendant is the result of a collaboration with celebrated Nigerian artist Dotun Popoola. What makes this piece truly stand out is its soul: it was built entirely from discarded and scrap metal.

By giving new life to old materials, Popoola and Martell have created a physical reminder that reinvention is a choice. It is a nod to a more conscious kind of luxury, one that finds beauty in what has been left behind and proves that great things can be built sustainably.

The Abuja leg of the journey hit a major milestone on March 21st at Fuego Lifestyle. It wasn’t just another event on the calendar; it was a full immersion into the Martell world. Guests at Fuego experienced the brand’s energy through curated music, signature cocktails, and a vibe that matched the industrial, edgy aesthetic of the sculpture itself.

The event served as the perfect introduction for Abuja’s social scene to see exactly how Martell is blending heritage with a modern, gritty edge. “We brought The Swift Ascendant to Abuja because the city understands ambition, audacity, and what it means to push boundaries,” said Evane Chenuet, Marketing Director at Pernod Ricard Nigeria.

“Working with Dotun Popoola allowed us to create something that feels raw and real, reflecting the House of Martell’s three hundred year legacy of challenging the status quo. Seeing it at Fuego Lifestyle showed that when art and atmosphere align, the experience isn’t just visual, it becomes something people truly feel”.

The campaign is far from over. Martell is now challenging Abuja residents to keep their eyes peeled as the installation moves through the city. If you happen to come across the 14 foot metal swift during your commute or a night out, the brand wants you to be part of the story.


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