General News
Report Seeks Support to Enable African Healthtech Innovators to Accelerate Impact

Healthcare consulting firm, Salient Advisory, has launched a health care report calling on donor agencies, governments and impact investors to accelerate the impact and scale of African health-tech innovators working in supply chain.
The report, funded by the Bill and Melinda Gates Foundation and titled, “Innovations in Health Product Distribution in Sub-Saharan Africa,” sets out a series of actionable recommendations for global health actors.
As a result of COVID-19, innovative approaches to distributing medicines are growing. The report engaged with 61 of these health-tech innovators, including Mymedicines.com, Shelf Life, RxAll, MYDAWA, Pronov. Data can now reveal a consistent expansion in the ecosystem of tech-enabled supply chain companies within sub-Saharan Africa, primarily driven by companies in Ghana, Nigeria and Kenya.
The findings show a more than 100% increase in technology-enabled business models since 2018, as these companies work to change how healthcare products are distributed. Of the companies surveyed, 53% reported hoping to support the distribution of COVID-19 vaccines by providing trusted information, track-and-trace services, supporting last-mile delivery and aiding in vaccine administration.
Propelled by COVID-19, businesses that pair telemedicine with product delivery are the most common offerings among new entrants. For the first time, the number of innovators that report operating in both urban and rural areas [49%] surpassed those operating exclusively in urban areas [48%], driving scale, impact and profitability.
As businesses continue to respond to COVID-19, the report calls for more to be done to support, nurture, fund and provide infrastructure access to innovators across Africa who can have a positive and impactful effect on the health care systems.
Building on these challenges, Salient’s key recommendations for global health actors therefore include:
– Reshaping investment ecosystems to ensure more equitable funding and professionalized support is accessible to high-potential African founders, including female founders and innovators in francophone Africa.
– Catalyzing partnerships between the innovators, and NGOs, industry and governments to enable the distribution of publicly subsidized products through locally-grown, tech-driven platforms, especially in rural areas.
-Increasing access to affordable working capital and mechanisms to enable innovators to offer low-cost onward lending to their customers.
-Reviewing, developing and harmonizing regulations for telemedicine providers and innovators offering digitally enabled direct-to-consumer distribution of medicines.
Speaking on the launch of the report, Remi Adeseun, FPSN, Director at Salient, commented: “In our conversations with African innovators, it is clear the global pandemic has stimulated digital health care startups to develop innovative and commercially viable solutions that will transform health product distribution for consumers and providers alike.
“While technology-driven innovations continue to grow, our report has highlighted many constraints faced by innovators across the continent, including lack of access to capital and un-harmonized regulatory environments.
“Salient is now calling on all global health players, but in particular, those who operate across Africa, to move quickly to engage high-potential innovations, to build health care supply chains of the future”.
Cheikh Oumar Seydi, Director, Africa, at the Bill and Melinda Gates Foundation, also commented: “The COVID-19 pandemic has impacted everyone in Africa, and in response governments, the private sector, donors, and health workers have stepped up. This new survey shows that sub-Saharan African start-ups are keen to do more to support the distribution of essential medicines and vaccines and are already investing in the technology to do so.
“As we work to deliver a fair and equitable approach, we must leverage partnerships and collaborate sector to sector, locally and internationally, to strengthen health care systems and achieve universal health coverage.”
General News
Burna Boy Distances Himself from Meme Coin, Labels Crypto as Fraud

Burna Boy, Grammy-winning Nigerian artist, has publicly distanced himself from a meme coin circulating online that falsely uses his name and image for promotion.

Burna Boy
In a statement shared via Instagram, the Afrobeats star made it clear that he has no involvement in any cryptocurrency ventures, describing such schemes as fraudulent.
His comments come amid growing traction of a meme coin allegedly linked to him, which has been circulating on social media platform X (formerly Twitter).
“I don’t do any internet ‘coin’ business. I see it as fraud and I have no interest in any of that,” Burna Boy wrote. “So if you see anyone using my name for such, please disregard or report them.”
The singer urged fans to remain vigilant and to report anyone promoting the crypto project under false pretenses.
General News
AM Best Reaffirms Stable Outlook for Cyber Insurance Market

AM Best has reaffirmed its stable outlook for the global cyber insurance market. The rating agency notes that strong demand for cyber insurance coverage is expected to continue, supporting profitability across the sector despite intensifying competition.
Atlas Magazine reports that the small and medium-sized enterprise (SME) segment presents a key growth opportunity, as many SMEs remain underinsured or lack sufficient cyber coverage.
Rising awareness of cyber threats has also led policyholders to enhance their IT security measures, helping reduce potential losses in the event of a claim.
AM Best’s outlook is further supported by several factors, including sustained capital inflows from reinsurers and alternative capital providers, the use of artificial intelligence for more effective risk selection, and favorable regulatory developments.
According to Munich Re, global cyber insurance premiums reached $15.3 billion in 2024, climbing seven per cent year-on-year.
The market is projected to grow at an average annual rate exceeding 10 per cent through 2030.
However, the industry continues to grapple with challenges such as a rise in ransomware attacks, business email compromise, and payment fraud. The growing use of AI by cybercriminals is also amplifying the scale and sophistication of such attacks.
General News
Woodhall Capital and Partners Launch ₦1.5Bn Fund

Woodhall Capital in partnership with Polaris Bank, Lagos and UK governments have announced the launch of a ₦1.5 billion Creative Sector Fund aimed at expanding access to structured financing for creative entrepreneurs meant to scale their output across fashion, film, music, and digital content.

L-R- Abimbola Ozomah, Executive Director, Polaris Bank; Mojisola Hunponu-Wusu, Founder/CEO, Woodhall Capital; Sola Carrena, MD/CEO, Helios Investment; Onyinyechi Aderigbigbe, Head, Brands & Marketing, Woodhall Capital; Jonny Baxter, British Deputy High Commissioner at the signing ceremony of the N1.5bn Creative Sector Fund & Launch of the Creative Currency Podcast at the weekend, Lagos
The fund was unveiled during the launch of the Creative Currency Podcast, an initiative designed to foster collaboration between creatives, financiers, policymakers, and global stakeholders.
The platform will serve as both a podcast and policy engagement forum, tackling long-standing challenges such as limited access to finance, weak Intellectual Property(IP) enforcement, and the absence of scalable business infrastructure within the creative ecosystem.
In May 2022, Polaris Bank partnered with the Lagos State Employment Trust Fund (LSETF) to establish a ₦1 billion funding initiative targeted at artisans in Lagos State.
The objective of the partnership was to deliver critical financial support to empower skilled artisans and entrepreneurs within the MSME sector who had maintained active business operations for at least one year ultimately fostering wealth creation and economic inclusion across the state.
At the launch event held on Thursday evening at the Ikoyi residence of the British Deputy High Commissioner, Polaris Bank’s Executive Director, Abimbola Ozomah, who sat on a panel at the launch, emphasized that the fund is a long-overdue response to the structural exclusion of creatives from formal financing systems. She described the initiative as a deliberate attempt to recognize creative endeavours, intellectual property as a bankable asset and to build a framework where creatives are treated as serious entrepreneurs capable of generating significant economic value.
“This fund represents more than capital, it reflects our belief in Nigerian creativity as a global force,” said Polaris Bank’s Executive Director, Abimbola Ozomah. “We’re not just exporting talent. We’re exporting ownership, structure, and long-term value.”
Founder and CEO of Woodhall Capital, Mojisola Hunponu-Wusu, reiterated the urgent need to redefine how the financial system engages with the creative sector. She committed to providing bespoke financial products, advisory services, and investor-matching support tailored specifically for the needs of creative MSMEs.
The UK Government, through the British Deputy High Commissioner, Mr. Jonny Baxter, highlighted its longstanding commitment to Nigeria’s creative economy. The UK-Nigeria Creative Industries Partnership signed in 2024 was cited as a milestone in unlocking trade, investment, and collaborative opportunities between both countries. The Deputy High Commissioner praised the initiative as a blueprint for global creative cooperation.
The Lagos State Government, a key driver of the initiative, reaffirmed its ambition to cement Lagos as Africa’s creative capital. According to the Governor’s representative, Representing the Governor, Mrs. Folashade Ambrose-Medebem, Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, highlighted the state’s efforts in supporting the sector through progressive policy reforms, infrastructure development, and the provision of zero-interest loans of up to ₦10 million via the Lagos Creative Fund. These measures are designed to empower creatives to scale operations, access markets, and formalize their business practices.
The newly launched Creative Currency Podcast is positioned to be more than a media channel. It is a knowledge-sharing ecosystem that brings together local talents, international investors, legal experts, and cultural stakeholders to explore opportunities, identify risks, and share solutions that will elevate Nigeria’s creative industries to global standards.
Throughout the panel sessions, panelists emphasized the need for deeper structure, transparency, and professionalism in the sector. Creators were encouraged to develop clear business plans, maintain accurate financial records, formalize their operations, and assert their rights to royalties and IP protection.
As conversations deepened, financial institutions acknowledged the need for a mindset shift. Traditional risk models, they agreed, must be reimagined to reflect the unique nature of creative enterprises many of which are driven by intangible assets, flexible revenue models, and export potential.
The event concluded with a call to action: invest in the systems, not just the stories. Stakeholders were unanimous in their belief that a more structured, collaborative, and well-capitalized creative economy will deliver jobs, exports, and global relevance for Nigeria.
Polaris Bank has built a strong footprint in financing MSME by committing billions of naira in loans to support MSME operations in Nigeria, with huge lending portfolio dedicated to empower micro, small, and medium businesses meant to grow businesses, create jobs, and build wealth.
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