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Itanna Hosts Demo Day

Lagos-based accelerator and investment vehicle Itanna, backed by leading Nigerian corporate the Honeywell Group, today held its inaugural Demo Day, marking the end of its four-month innovation programme for tech-enabled, for-profit African startups.
Held at Itanna’s Enterprise Factory, Demo Day saw the pilot Cohort pitch to Honeywell Group’s extensive network of high net-worth investors, as they, the cohorts, vied to secure investment, corporate backing and strategic partnerships, for their companies.
A step in the journey of Honeywell Group’s reinvention through its new innovation strategy, Itanna’s Demo Day also hosted a panel of leading players in the Nigerian tech and business ecosystems, who discussed the role of corporate Nigeria in achieving win-win collaborations with tech start-ups.
Panellists included Deji Oguntonade, Head Fintech & Innovation, Guaranty Trust Bank, Lola Ekugo, Head Digital Innovation Lab, First Bank, Obi Emetatom, Managing Director, Appzone and Seun Faluyi, Managing Director, Uraga Power Solutions.
Launched in August 2018, Itanna’s four founding Cohort companies were chosen from over 200 applications from across Africa. They included: Accounteer -providers of online accounting services for SMEs across Africa,
KoloPay – a cashless target savings mobile and web application
Tradebuza – an online platform for managing and brokering commodities sourcing and outgrower scheme
PowerCube – providers of affordable power supply using renewable energy.
Along with up to USD $25,000 each in investment from Honeywell Group, startups received training and mentorship from leading industry experts in the form of UI/UX Sessions, legal and HR workshops, classes on technology, business and marketing, reviews of revenue/pricing model and operational metrics, mentorship sessions and guest lectures from some of Nigeria’s most renowned entrepreneurs and business icons.
Obafemi Otudeko Honeywell Group’s Executive Director, says, “Our vision for Itanna was to see an accelerator that merged the best of corporate and entrepreneurial spirit in order to fulfil our mission of using enterprise to make our world better. Itanna has exceeded our expectations as we look to cement our position as a facilitator and impactor of growth in key sectors, including tech within Nigeria and across Africa”.
With plans underway for a second cohort intake in 2019, Itanna will also invest in more developed tech startups looking for growth capital with its direct investment arm, which will support investee companies in scaling, by leveraging Honeywell Group’s extensive network and industry expertise.
Tomi Otudeko, Head of Sustainability at Honeywell Group and Director of Itanna says, “Itanna is uniquely placed, as our goal continues to be bridging the gap between our tech startup ecosystem and corporate Nigeria.
Over the last four months, the entire team at Itanna, along with our strategic partners and the Honeywell Group, have committed to creating a professional environment where businesses can learn from experts in their field and build innovative and dynamic businesses of the future.”
Tony Idugboe, Vice President, Head of Investments at Itanna concludes, “Our Cohort have shown true enthusiasm and entrepreneurism – which investors search for. In preparing to secure investment, they have learned to plan, be patient and show flexibility and of course, showcase phenomenal pitching skills, Demo Day has given them the confidence to embark on the next stage of their entrepreneurial journey. We wish them all the very best”.
Operating from the brand new Enterprise Factory located in Iganmu, Itanna is at the heart of industrial Lagos where businesses are built. The state of the art 627 square metre collaborative space boasts work spaces, offices, meeting rooms and a conference space.
News
INTERPOL Report Shows Cybercrime is West, East African Most Dominant Security Concern

Cybercrime has emerged as a dominant security concern across Africa, with more than 30 percent of all reported crimes in Western and Eastern regions linked to cyber activity, according to the newly released 2025 Africa Cyberthreat Assessment Report by INTERPOL.
The report, based on data from African member states and private sector partners, reveals that two-thirds of surveyed countries describe cybercrime as constituting a medium to high share of total criminal cases.
This highlights how cyber-enabled criminal activity is evolving rapidly across the continent. The report identified alarming spikes in scam attempts, with some countries witnessing a 3,000 percent increase in suspected scam notifications in the past year.
Neal Jetton, INTERPOL’s Cyber Crime Director, warned that the threat landscape is evolving faster than enforcement responses.
“This fourth edition of the INTERPOL African Cyber Threat Assessment provides a vital snapshot of the current situation, informed by operational intelligence, extensive law enforcement engagement, and strategic private-sector collaboration.
“It paints a clear picture of a threat landscape in flux, with emerging dangers like AI-driven fraud that demand urgent attention. No single agency or country can face these challenges alone,” Jetton stated.
In the past year, suspected scam notifications rose by up to 3,000 per cent in some African countries, according to data from Kaspersky, one of several private sector partners that work with INTERPOL’s cybercrime directorate
Online scams, particularly through phishing, are the most frequently reported cybercrimes across the continent. Ransomware attacks and Business Email Compromise (BEC) incidents are also increasing, particularly in Nigeria, Kenya, South Africa, and Egypt.
“Ransomware detections in Africa also rose in 2024, with South Africa and Egypt suffering the highest number, at 17,849 and 12,281 detections respectively, according to data from Trend Micro, followed by other highly digitised economies such as Nigeria (3,459) and Kenya (3,030),” it stated.
Incidents included attacks on critical infrastructure, such as a breach at Kenya’s Urban Roads Authority (KURA), and on government databases, such as hacks of Nigeria’s National Bureau of Statistics (NBS), the report stated.
News
GSK to Slash Cost of Malaria Jab to Less than $5

The manufacturers of the world’s first malaria vaccine are set to slash the price by more than half by 2028 to less than$5 per dose.
The manufacturers of the shot, known as RTS,S, said a phased reduction in cost would begin immediately, with an ultimate aim to reduce the price to less than $5.
The announcement could hardly come at a more critical moment.
Gavi, a major vaccination initiative which funds immunisations in the world’s poorest countries, is facing a major budget crunch.
In Brussels on Wednesday, Gavi’s replenishment event raised $9 billion to fund immunisation programmes over the next five years. While this sounds like a huge sum, it’s significantly less than the $11.9bn the group had been aiming for.
Governments around the world are cutting development spending dramatically.
The UK, for instance, cut its contribution to Gavi by 40 per cent in real terms, telling The Telegraph it was prioritising defence, while the US has pledged nothing at all.
Though America previously gave Gavi roughly $300m a year, the country’s new health secretary claimed without evidence that the organisation was ignoring vaccine safety.
The announcement from the British pharmaceutical giant GSK and Indian drugmaker Bharat Biotech will therefore be a relief to those trying to balance the books.
In a statement the companies said the price reduction demonstrated their “commitment to Gavi”, and was “driven by process improvements, expanded production capacity, cost-effective manufacturing, and minimal profit margins”.
By the time the price has fallen to below $5 per dose, a technology transfer agreement means Bharat will have taken over production, though GSK will continue to supply the adjuvant piece of the shot.
“For us, this is more than a cooperation, it’s a promise,” said Dr Krishna Ella, executive chairman of Bharat Biotech International Limited.
“By joining forces with GSK, and working closely with Gavi, and the WHO [World Health Organization], we are taking a real step toward closing the gap between vaccine supply and the urgent needs of children at risk of malaria.”
Each year, malaria still kills 500,000 people – the vast majority of them children aged five and under in sub-Saharan Africa.
According to WHO estimates, cases and deaths fell significantly between 2000 and 2015, but progress has since stalled.
Some have high hopes that RTS,S, as well as another vaccine called R21 developed by Oxford University, could prove critical in efforts to turn the tide.
In clinical trials, RTS,S reduced hospitalisations for severe malaria by 30 per cent.
But critics say the shot is too expensive and not as effective as existing tools, such as bed nets and antimalarials.
The reduction in price will bring it more in line with the cost of R21, which is priced at around $4 per dose.
Yet the cost will still add up, as both jabs require multiple shots. For RTS,S, this means four doses – the first three doses are given monthly, starting around five months of age, while the fourth dose is administered 15-18 months later.
Both jabs “provide reasonable short term efficacy – over about a year – so are a useful addition to other measures,” said Professor Nick White, a professor at the Mahidol-Oxford Tropical Medicine Research Unit who specialises in malaria.
“In the past GSK had limited production capacity – one of the reasons the R21 was developed. So reducing the price will be good and the two comparable vaccines can fight it out in the market place.”
A spokesperson for Gavi said the alliance’s goal is to “create sustainable demand backed by predictable financing so that companies – like GSK and Bharat – can continue investing in technology transfer and other efficiencies that bring down costs, thus making critical vaccines more available and affordable.
GSK’s decision to lower its prices, the spokesperson added, is “an important step for the global malaria vaccination programme, and our ability to make this lifesaving tool more widely available to those who need it the most”.
Gavi plans to help fund RTS,S in 12 African countries by the end of this year.
Previously, GSK has said it will supply up to 18 million vaccine doses between 2023 and the end of this year.
The company plans to supply 15 million doses annually from 2026-2028, a spokesperson told Reuters.
News
Rack Centre Signs Collocation Deal with TelCables Nigeria

Rack Centre, West Africa’s Tier III carrier- and cloud-neutral data centre, has struck a collocation agreement with TelCables Nigeria, an Angola Cables subsidiary.
TelCables Nigeria is delivering its high-capacity network and cloud infrastructure, as well as four international subsea cable systems (SACS, MONET, SEBRAS, and EllaLink), directly into Rack Centre’s regional carrier ecosystem as part of the agreement.
According to Angola Cables, the move provides reliable, low-latency south-bound routes to Europe, the Americas, and Latin America, reducing the danger of future cable disruptions along West Africa’s coast and enabling next-generation cloud services across the continent.
“Our unique Africa – to – Latin America route via SACS, combined with MONET, SEBRAS and EllaLink, gives customers the lowest – latency paths to the Americas and Europe,” said Fernando Fernandes, CEO of TelCables Nigeria.
“Businesses in latency sensitive sectors: financial services, content delivery and real-time communications will experience faster transactions, reduced lag and an enhanced user experience.
“By hosting at Rack Centre we also localise Clouds2Africa resources, price them in naira, and remove expensive ingress/egress charges or FX exposure.”
Rack Centre said its 13.5MW data centre campus designed with its recently launched LGS2 facility that delivers a design PUE of 1.35 and powered from sustainable energy sources, already hosts 70+ carriers, ISPs and network operators.
Lars Johannisson, CEO of Rack Centre, commented: “Adding a global operator of Angola Cables’ calibre through TelCables Nigeria dramatically deepens our connectivity fabric.
“We can now offer 99.95 % SLA routes to more destinations, enabling enterprises, governments and cloud providers to meet performance and data-residency requirements while keeping traffic local.”
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