General News
Catalytic Africa Goes Live at 2021 AfriLabs Annual Gathering

AfriLabs, in collaboration with African Business Angels Network (ABAN), has officially launched Catalytic Africa, a co-matching fund designed for African startups, at the AfriLabs Annual Gathering held on Thursday, October 28th, 2021.

Catalytic Africa is an investment tool that aims to increase the pool of capital available to promising African growth-stage entrepreneurs, support the startup ecosystem, and increase the visibility of impact to institutional funders.
This co-matching investment is designed to fund African startups with innovative digital solutions and measurable impact, increase the investments made by angel investors in African start-ups, present reliable ecosystem data and insights to impact reporting for all stakeholders and ultimately strengthen African angel networks and innovation hubs.
The requirement for startups to access this matching funding is to be a part of the Hubs from AfriLabs and Angel investors from ABAN. The maximum financing from Catalytic Africa is €60,000 per transaction.
“If the business angel invests an amount less or equal to €10,000, then the matching fund will double the amount of funding the startup receives from the angel investors. If the business angel invests more than €10,000, then the matching fund will triple the amount of funding the startup receives from the angel investors.
“We have been working extremely hard to make this come to life and today, we are happy to launch Catalytic Africa, the game changer that will support startups across the continent. This will help hubs within our network attract startups because Catalytic Africa serves as an incentive and has the ability to offer matching funds for their startups.
“We have designed this matching fund to offer value and sustainability to all stakeholders which also greatly benefits institutional funders and the government in tracking the impact of their funds’ long term. The platform also hosts a range of toolkits that help strengthen the capacity of hubs and angel groups.” said Anna Ekeledo, Executive Director, AfriLabs.
Also commenting, Tomi Davies, President African Business Angels Network (ABAN) said, “We look forward to growing the African business space by helping businesses find the matching funds and access opportunities that will truly impact the continent. We as ABAN aim to position Catalytic Africa as the continent’s leading startup matching fund because ‘Now is the time to invest in Africa.”
“The goal of Catalytic Africa is to support the tech ecosystem and we have made it as simple as possible without compromising on high quality standard. I also use this opportunity to extend our deepest appreciation to Agence Française de Développement (AFD) for trusting us with 1.5M euros to start the Catalytic Africa funds. We look forward to encouraging and stimulating nascent angel networks and propel the growth of the African tech ecosystem”, added Rebecca Enonchong, Board Chair, AfriLabs.
This is an open opportunity for African startups, hubs, Angel investors and angel networks to register fully throughout November in anticipation of the launch of matching fund applications in December 2021.
General News
EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud

Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.

Tunde Ayeni, former chairman of defunct Skye Bank Plc,
This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.
He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.
Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.
Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.
Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.
About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.
The EFCC is expected to file charges once the investigation is concluded.
General News
Summit Factory Opens in Ogun, Targets Hygiene Market Expansion

Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.

The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.
Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.
He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.
Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.
In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.
He also revealed that the company is preparing to introduce new home and personal care products later this year.
Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.
Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.
Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.
The special guests were conducted around the facility, and the programme was concluded with a luncheon.
General News
Airtel Africa Foundation Calls for Applications for “DigiLeap” Tech Training for Young Women

The Airtel Africa Foundation, through Airtel Nigeria, has officially opened the application portal for the DigiLeap Tech Drive, a core initiative in the Foundation’s digital inclusion agenda. The application portal will be open until 8th May 2026.

Targeting 200 underserved young women in the Ikorodu Local Government Area of Lagos State, the programme is designed to bridge the gender divide in the digital economy by providing intensive, industry-standard technical and digital literacy training at no cost to the beneficiaries.
The DigiLeap Tech Drive is a strategic collaboration between the Airtel Africa Foundation, the ISHK Tolaram Foundation, and Co-Creation Hub (CcHub), with implementation carried out by the SAIL Innovation Lab, a leading centre for digital talent development in Nigeria.
Strategically engineered to transform high-potential individuals into workforce-ready professionals, this high-impact project will provide technical instruction, mentorship, and job-placement linkages, directly tackling regional unemployment and the systemic underrepresentation of women in the global technology sector.
Commenting on the project, Dr Segun Ogunsanya, Chairman of the Airtel Africa Foundation, emphasised that the partnership between the Foundation, Ishk Tolaram, and CcHub is central to the Foundation’s holistic mission of advancing both digital and gender inclusion across the continent.
“Our mission at the Airtel Africa Foundation is to accelerate digital inclusion across the continent,” he said. “By bringing the DigiLeap Tech Drive to the women of Ikorodu alongside Ishk Tolaram and CcHub, we are providing 200 young women with a definitive competitive advantage in the modern economy. This initiative ensures the digital revolution is truly inclusive; it isn’t merely a training session, but a professional pipeline designed to transition these women directly into internships and sustainable careers.”
In his remarks on the flag-off, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, highlighted Airtel’s dedication to ensuring that women are integrated into the country’s rapidly evolving digital economy.
“At Airtel Nigeria, we believe that empowering women with digital skills is a fundamental catalyst for national economic growth. With the DigiLeap tech training, we are creating a sustainable pathway for young women in underserved communities to move from the sidelines of the digital economy into the heart of the tech workforce. This initiative reflects our deep-rooted commitment to social impact and our belief that when women lead in technology, entire communities thrive,” he said.
Focusing on industry-standard competencies that enhance both employability and entrepreneurship readiness, application entry into the programme is now live and open to women aged 18–35 living in Ikorodu.
General News3 days agoBreaking News…Hackers Allegedly Expose EFCC Data, Operatives’ Identities
E-Business2 days agoFCCPC Licenses 5 Firms for Airtime, Data Lending as Telcos Step Aside
E-Financial2 days agoCBN Warns of Cyber Hack Attempt Days after CAC Attack
E-Financial2 days agoEcobank in Talks with Bank of China for Direct Yuan Settlement
Telecom2 days agoDeadline Extended! MTN Nigeria Offers More Time for Media Innovation Programme
Telecom2 days agoPayments Forum Nigeria (PAFON 3.0) Holds This Friday in Lagos
Telecom2 days agoVivo, Credit Direct Ink Agreement on Smartphone Credit Purchase
E-Financial1 day agoEXPLOSIVE: How Titan Trust Bank Allegedly Used Union Bank’s Own Assets to Fund Its Takeover


















