E-Business
CcHUB, BoI, 2 Others Launch N1Bn Fund to Support Next Gen Tech Builders

Co-creation Hub (CcHUB), Bank of Industry (BoI), Venture Garden Group (VGG) and Omidyar Network (ON) teamed up to launch ‘CcHUB Growth Capital’ which will invest N1 billion to support ‘next generation infrastructure’ technology builders in Nigeria over the next two (2) years.
CcHUB Growth Capital will target existing ventures looking to scale their businesses across the country as well as make significant impact.
With investment sizes of up to N30 million per venture, the Fund will look to lead seed funding rounds for ventures along with other co-investors. It will also work with banking partners to provide debt funding to appropriate businesses in order to diversify their funding structure.
According to Mr. Rasheed Olaoluwa, managing director, Bank of Industry, who spoke at the launch, we are partnering with the CcHUB, Omidyar Network and the Venture Garden Group to provide this Fund, because “If Africa will catch on with the rest of the world in terms of development, we must leverage on technology”.
Olaoluwa further stated that the investment was informed by the track record of Co-Creation Hub and the developmental impact of their existing portfolio.
Expatiating on ‘next generation infrastructure’, ‘Bosun Tijani, chief executive officer of CcHUB, explained that these are entrepreneurs building technologies that make public services smarter and connects them to citizens and/or smart technologies linking multiple public services together to make them more accessible to citizens.
The occasion also showcased some of the startups from CcHUB’s incubation program building next generation infrastructure businesses like LifeBank – a solution to build a smarter blood system in Nigeria by connecting hospitals with blood banks and galvanizing millions of Nigerians to voluntarily donate blood.
Grit Systems who is currently testing its power monitor which helps corporates and individuals track consumption of electric power across multiple sources over the web or on mobile.
Wecyclers talked about progress made over the past two (2) years in building a collections system that rewards individuals and organizations for parting with their recyclable waste which is in turn processed and sold to recyclers.
Criteria for ventures looking to access the fund include: business should be generating revenue in a growth sector, look to raise a seed round of between N30 million to N90 million, have a strong team with track and have suitable valuation.
CcHUB Growth Capital has started taking applications from across the country via its website i.e. www.gc.fund.
In addition to the investment, The Fund will through its partnership with CcHUB’s Incubation team, provide Venture scaling support to investees.
This involves supporting founding teams to implement structure during the scaling phase of their development.
Focus will be on building appropriate team structures (hiring quality for growth), efficient operational procedures and governance structures to sustain measurable growth in users, revenue and market traction.
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E-Business
Report Shows Start-ups Fuel Innovations in Africa

Bloomberg has released its second annual “25 African Startups to Watch” list, underscoring the growing influence of venture-backed innovation across the continent.

Published thursday, the list highlights companies building solutions in “environments where infrastructure or systems have failed to deliver.”
The featured start-ups build solutions to challenges such as accessing healthcare in Chad, moving goods in Kenya, securing loans in South Africa, and safeguarding borders in Nigeria.
Nigeria, South Africa and Kenya jointly lead with four companies each, reflecting the ongoing strength of Africa’s three most visible start-up ecosystems.
The 25 companies span 13 countries and sectors including healthcare, fintech, security, climate resilience, waste management, and transport.
Nigeria’s four startups are 10mg Health, Remedial Health, Sycamore and Terra Industries, covering areas from healthcare financing and pharmaceutical supply chain integrity to digital lending and defence technology.
South Africa’s contingent includes Omnisient, Amesect, AURA and Jem. Omnisient uses grocery purchase data and AI to extend credit to those outside traditional financial systems.
Kenya’s notable four include Zeraki, a school-data analytics platform partnering with Safaricom to reach secondary students across the country.
According to Bloomberg, a defining theme this year is the source of funding.
Nearly half of the total capital raised by these start-ups came from African investors, marking a shift from previous years when international capital predominantly drove early growth.
International backers such as 8VC, controlled by Palantir Technologies co-founder Joe Lonsdale, and Google continue to see value in investing in African companies, Bloomberg noted.
The report also highlights that start-ups across the continent almost doubled their debt fundraising in 2025, even as equity financing from venture capital firms declined.
Separately, the Start-up Ecosystem Report 2026 states that Kenya has overtaken Nigeria as Africa’s top startup investment destination, attracting $984 million in 2025.
Jennifer Zabasajja, Bloomberg Television’s chief Africa correspondent and anchor, highlighted the dual significance of the list, the variety of solutions being built and the growing role of African-sourced capital in backing them.
She noted that the list comes at a consequential moment, one shaped by global disruptions, from the conflict in Iran to sweeping cuts in US foreign healthcare assistance, that have made the case for African-owned capital more urgent than ever before.
E-Business
NDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections

Nigeria Data Protection Commission has warned that the growing misuse of personal data and digital platforms could undermine Nigeria’s democratic process ahead of the 2027 general elections.

NDPC
The warning was delivered during the 2026 Press Week organised by the FCT Council of the Nigeria Union of Journalists in Abuja.
Speaking at the event, Vincent Olatunji, national commissioner and chief executive officer, NDPC, who was represented by Itunu Dosekun, head of Media Unit at the commission, said disinformation and unlawful exploitation of personal data posed serious threats to credible elections.
The event had the theme: “2027 Election: Defending Democracy in the Era of Disinformation.”
Dosekun said the struggle for credible elections was no longer confined to polling units, noting that digital platforms had become major channels for manipulated narratives, fake news, propaganda and AI-generated misinformation.
According to him, the rapid growth of social media platforms, messaging applications and data-driven political campaigns has created vulnerabilities capable of influencing voter perception and weakening public trust in democratic institutions.
He warned that the abuse of personal data for political profiling and psychological targeting had become one of the most dangerous threats facing democracies worldwide.
“The misuse of citizens’ personal information carries serious social implications, especially for vulnerable groups who may not fully understand how their data is harvested, processed and weaponised online,” he said.
Dosekun noted that coordinated disinformation campaigns could inflame ethnic tensions, spread fear and discourage civic participation, particularly among young Nigerians.
He described the Nigeria Data Protection Act, 2023, as a critical legal framework aimed at protecting citizens against unlawful data processing and digital exploitation.
According to him, the law gives Nigerians greater control over their personal information while placing obligations on organisations, institutions and political actors to handle data responsibly.
Dosekun also called for stronger collaboration among political parties, media organisations, technology firms, civil society groups and citizens to promote responsible digital behaviour ahead of the elections.
He stressed the role of journalists and media professionals in combating fake news, fact-checking information and safeguarding public discourse.
According to him, protecting personal data should not only be seen as a privacy issue but also as a democratic responsibility necessary for maintaining public confidence, national stability and electoral credibility.
Stakeholders at the event emphasised the need for improved digital literacy, stronger regulation and increased public awareness to prevent the abuse of digital platforms during future elections.
E-Business
Anthropic Raises $65 Bn to Expand AI Research, Innovation

Anthropic, artificial Intelligence company, has said that it has secured sixty-five billion dollars in a new funding round, raising the company’s valuation to about nine hundred and sixty-five billion dollars.

The development places the company ahead of its rival, OpenAI, maker of ChatGPT, which was valued at about eight hundred and fifty-two billion dollars earlier this year.
Anthropic, founded by former OpenAI employees and led by Dario Amodei, chief executive officer, has emerged as one of the leading firms in the global Artificial Intelligence industry.
The company is widely recognised for its advanced coding capabilities and generative AI models, particularly its AI assistant known as Claude.
Unlike some competitors focusing mainly on general consumers, Anthropic has concentrated on delivering AI solutions to enterprise and business clients.
The company also says it places strong emphasis on AI safety while expanding its products and services amid growing competition in the sector.
Krishna Rao, chief financial officer of Anthropic, said the new funding would support the company’s research efforts and help meet rising global demand for its AI technologies.
Reports indicate that the investment round attracted major Silicon Valley venture capital firms, including Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital.
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