General News
Over 130 Projects Worth $246Bn Expected At TGAIS 2014
A hundred and thirty-six bankable projects worth a combined total of $246 billion, in the natural resources, agribusiness, power and critical infrastructure sectors, will be presented at The Global African Investment Summit (TGAIS) in London on October 20-21.
Many African economies have grown exponentially over the last decade and the upward trajectory is expected to continue.
A recent World Bank report projects regional GDP growth to strengthen to 5.2 percent yearly in 2015-16 from 4.6 percent in 2014, due to significant public investment in infrastructure, increased agricultural production and expanding services in African retail, telecoms, transportation, and finance.
Pension funds, sovereign wealth funds, PE firms, asset managers, bankers, corporates, professional services firms and project developers will convene at the Savoy Hotel to review the continent’s most bankable projects in strategic sectors spurring the continent’s growth and competitiveness: power and transport infrastructure, agribusiness, natural resources and tourism.
The Summit, chaired by former President of Nigeria Olusegun Obasanjo, is seeking to direct funds from some of the world’s largest institutional investors into quality projects across the continent, with a focus on Ghana, Rwanda, Tanzania and Uganda, whose Presidents will open the Summit.
Chief Obasanjo remarked “today Africa stands as the last great frontier in emerging markets. Its attractiveness is real. More than $200bn worth of capital under management will be represented at TGAIS. That’s a staggering figure. Its money that I hope we can direct towards agribusinesses, power and energy projects and vital infrastructure over the course of the Summit.”
The 136 projects due to be presented range from a crude oil pipeline development project worth $5 billion in Uganda to a pineapple production and processing project in Ghana worth US$341 million.
Infrastructure investors will be able to engage the developers of the planned $13.5 billion Mombasa-Kampala-Kigali railway and the teams behind port expansions and upgrades, urban rail and airport projects in Uganda and Ghana.
Investors will also hear pitches from the developers of a range of power generation and distribution projects spanning the full energy mix from traditional sources to renewables and ranging from 35MW to 4800MW in locations across Nigeria, Ghana, Kenya, Tunisia, Rwanda, DRC, Benin, Sierra Leone, Cameroon and South Africa.
The DRC Government is presenting the Bukanga-Lonzo Agriculture Business Park project, an integrated production, processing and infrastructure initiative, which has a ticket of US$ 500million.
Ayo Salami, chief investment officer at global alternative asset management firm Duet Group, noted, “next week’s Global Africa Investment Summit in London is critical in facilitating transactions and building a more nuanced understanding of risk and opportunity on the ground. The more people engage actively with the continent, embracing the contradictions, the unpredictability and the incredible thirst for innovation, the better they will be placed to identify outsize returns.”
TGAIS is sponsored by a range of African and multinational companies, including Invest Africa, PwC, Sepco, Visa, Baker and McKenzie, Ecobank, Globeleq, Heritage Bank, Prudential, Seplat and Standard Chartered.
The calibre of sponsors and the high level of interest in the investor community has led to overwhelming demand and the summit has now sold out.
The inaugural Global African Investment Summit, run in partnership with four African state houses, is the only platform that brings together the public and private sectors to discuss specific transactions, access to finance and bankable projects in Sub Saharan Africa requiring investment and technology transfer.
African Presidents will travel to the event with Finance ministers, sector specific ministers and CEOs from state owned enterprises to address and hear from the global financial markets, project implementers, consultants and law firms about co-financing and executing their most pressing projects in agribusiness, natural resources, power, and transport infrastructure.
Federal government has announced it will impose a new 5 percent refined fossil fuel tax from January.
The surcharge, which has been signed into law by President Bola Tinubu to encourage clean energy use, could raise more than half a billion dollars annually.
The fee will apply to petrol and diesel, while cooking gas and compressed natural gas — which the government has tried to promote — are exempted.
Nonprofit group ActionAid Nigeria said the policy will “disproportionately impact the poor” and deepen inequality, noting that Nigerians have not recovered from the inflationary effect of the removal of fuel subsidies in 2023.
General News
FintechNGR Announces DevTribe 2025, Focuses on Empowering Nigeria’s Software Developer Ecosystem
The Fintech Association of Nigeria (FintechNGR) has announced DevTribe 2025, its flagship software developer-focused conference, set to hold on Saturday, August 23, 2025, at The Zone, Gbagada, Lagos.
With the theme “Trends, Tools & Tech Stacks for Modern Developers,” the conference aims to convene Nigeria’s growing community of software developers, tech professionals, founders, and ecosystem enablers for a day of technical exchange, innovation, and collaboration.
DevTribe 2025 is part of FintechNGR’s broader strategy to strengthen the software development pipeline in Nigeria and bridge critical gaps in mentorship, tooling, and visibility for local tech talent. This year’s event promises an immersive and community-driven experience, with a strong emphasis on emerging technologies, practical skills, and inclusive opportunities for developers at all levels.
“The DevTribe platform reflects our commitment to supporting the people building Nigeria’s digital future not just by acknowledging their role, but by actively investing in their growth,” said the organisers. “We’re bringing the right people, tools, and ideas into one room to shape the next phase of innovation.”
The event will feature keynote addresses, lightning talks, community-led sessions, and a career fair designed to help software developers connect with hiring partners and growth opportunities. It also offers a space for collaboration among startups, corporates, regulators, and talent platforms working to drive inclusive digital transformation.
FintechNGR welcomes software developers, companies, and ecosystem partners to be a part of DevTribe 2025.
NBA Africa, the local affiliate of the NBA basketball brand in the US, has announced the second edition of Triple-Double: NBA Africa Start-up Accelerator, which aims to promote the continent’s technology ecosystem and the next generation of entrepreneurs.
The NBA Africa Startup Accelerator will strengthen Africa’s technology ecosystem by providing mentorship and investment to the next generation of African tech entrepreneurs.
The organisation announced the initiative would once again be administered by ALX Ventures, a technological incubator that equips the continent’s innovators in technology with the knowledge and tools they need to develop and scale their enterprises.
Furthermore, NBA Africa named ServiceNow, an AI platform for business transformation whose Now Assist and AI agents help organisations in delivering ‘faster and smarter experiences’ at scale, as an official program partner.
The organisation stated that startups can apply to participate at tripledoubleaccelerator.nba.com until Friday, August 29, following which the applications will be filtered down to a top 10 list.
The shortlisted startups will then participate in a 10-week mentorship program, where they will be paired with mentors from NBA Africa, ServiceNow, and ALX leadership, as well as other corporate stakeholders, who will advise the companies on product development, business growth, and go-to-market strategy.
The finalists will next present their technologies to international industry professionals at the program’s second Demo Day in December, when the top five prize-winning companies will be chosen to receive financial assistance and mentorship.
“Last year’s inaugural Triple-Double Accelerator program showed how much talent, passion and creativity there is among African entrepreneurs who are shaping the future of the continent’s rapidly growing sport and entertainment industries,” said NBA Africa CEO Clare Akamanzi. “We look forward to reviewing this year’s submissions and to helping another round of promising startups take the next step in their development.”
Last year, almost 700 early-stage African entrepreneurs applied to the program.
Ten finalists were then chosen to pitch their products to a panel of international industry leaders at the program’s first Demo Day, which took place at the NBA headquarters in New York City.
Four prize-winning companies – Festival Coins (Nigeria), Salubata (Nigeria), HustleSasa (Kenya), and UBR VR (Egypt) – were awarded financial support and mentorship.
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