The forum, scheduled for 10 a.m. at the NCC Annex Office in Mbora, Abuja, will bring together industry stakeholders to give input on the regulatory framework before it is finalised.

The Commission announced the MVNO Business Rules event on its official social media platforms, inviting telecom operators, industry associations and other interested parties to participate in shaping the rules that will govern MVNO operations in the country.

MVNOs, companies that offer mobile services by leasing network capacity from licensed mobile network operators rather than owning spectrum or infrastructure, have been a subject of regulatory interest in Nigeria as the NCC works to diversify the telecoms market and expand consumer choice.

Further details on the outcome of the consultation are expected once the forum concludes.

The post NCC to Hold Stakeholder Forum on Draft MVNO Business Rules appeared first on Tech | Business | Economy.

The Federal Government has completed the evacuation of Nigerians affected by xenophobic attacks in South Africa, with the arrival of the final flight carrying 308 returnees to Lagos.

Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, said the latest flight brought the total number of Nigerians evacuated under the emergency exercise to more than 1,500.

In a post on her X account, the minister said the final Federal Government-sponsored evacuation flight departed O.R. Tambo International Airport in Johannesburg at 6:30 a.m. South African time.

“The last Federal Government-sponsored flight conveying our nationals home from South Africa as a result of the xenophobic protests and attacks on black migrants which have engulfed that country departed Oliver Tambo International Airport, Johannesburg, this morning.

“Over 1,500 nationals have been evacuated. The number of evacuees on this flight is 308 nationals and three Nigerian officials. Our prayers are for a safe return,” she wrote.

The Air Peace flight landed at the Murtala Muhammed International Airport, Lagos, at about 11:28 a.m., marking the end of the government-backed evacuation programme.

Before the final flight, the Federal Government had carried out six evacuation flights, bringing home hundreds of Nigerians who opted to leave South Africa following reports of xenophobia-related attacks and rising anti-immigration tensions.

The evacuation exercise followed President Bola Tinubu’s approval of a voluntary repatriation programme for Nigerians willing to return home from South Africa.

Earlier in June, the Federal Government announced that Air Peace had been cleared to operate the evacuation flights after more than 500 Nigerians were screened for repatriation.

The Ministry of Foreign Affairs said the operation was designed to ensure that all registered Nigerians who chose to return home were evacuated safely.

The exercise was coordinated by the Federal Government in collaboration with Air Peace and other stakeholders.

Odumegwu-Ojukwu also thanked President Tinubu for approving the emergency operation.

“I wish, on behalf of the Ministry of Foreign Affairs and the Federal Government’s diplomatic missions, to express our profound appreciation to the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, for these emergency rescue missions.

“His decisive leadership and compassionate intervention in facilitating the successful airlift and safe return of Nigerians stranded in South Africa, imperilled by the spate of xenophobic incidents, no doubt saved many precious lives which could have been lost if not for this timely action.“

She also commended Nigeria’s diplomatic missions in South Africa and Air Peace for their support in ensuring the successful evacuation.

The evacuation programme concludes the Federal Government’s response to the latest wave of xenophobic violence that affected Nigerian nationals living in South Africa.

The post Xenophobia: More Than 1,500 Nigerians Evacuated from SA as Final Repatriation Flight Lands in Lagos appeared first on Tech | Business | Economy.

The incident has triggered widespread disruptions across the carrier’s flight schedule.

The Incident

According to a statement released by Air Peace management, the collision occurred shortly after the arrival of Flight P47427 from Kano.

All passengers had already safely disembarked when a baggage conveyor belt vehicle, owned and operated by the Nigerian Aviation Handling Company (NAHCO), crashed into the aircraft’s engine.

The airline confirmed the impact was severe enough to render the wet-leased Airbus A320 “totally unserviceable.”

“The ground handling equipment belonging to and operated by NAHCO tore into the aircraft,” the airline statement said. “This unfortunate incident has significantly impacted our operations, as the aircraft was rostered to operate multiple flights within our network over the coming days.”

Operational Impact and Delays

Air Peace warned passengers to prepare for immediate schedule adjustments as the airline manages the sudden loss of capacity.

• Flight Schedule Changes: Several scheduled services will experience delays, and some flights face potential cancellation.
• Mitigation Strategy: The airline’s operational teams are actively adjusting its remaining fleet to cover the deficit and minimize passenger inconvenience.
• Customer Support: Affected travelers are being offered alternative flight options and assistance through the carrier’s customer service channels.

Investigation Launched

Air Peace emphasized that passenger and crew safety remains its highest priority. The airline is currently cooperating with aviation regulatory authorities and NAHCO management to investigate the root cause of the tarmac accident.

NAHCO, one of Nigeria’s primary ground handling service providers, has not yet issued a public statement regarding the vehicle operator or the circumstances leading to the crash.

The post Air Peace Airbus A320 Damaged by NAHCO in Ground Collision, Sparking Flight Disruptions appeared first on Tech | Business | Economy.

However, foldable smartphones have taken thinness to another level. Once unfolded, many of them become way slimmer than conventional smartphones, making them some of the most impressive achievements in mobile technology today.

Although foldables are among the most expensive smartphones on the market, the category has matured considerably in 2026.

The conversation is not whether foldable phones are good enough for everyday use. Instead, manufacturers are competing on processing power, battery life, software optimisation and display technology.

The first half of 2026 provided several interesting foldables. Samsung finally commercialised the trifold smartphone it unveiled last year, while OPPO, Honor and Motorola introduced new models that address many of the shortcomings seen in earlier generations.

In this review, we explore the top foldable smartphones released in H1 2026 and what makes each one stand out.

1. Samsung Galaxy Z TriFold

We are still in the early years of foldable smartphones, yet Samsung has already moved beyond the traditional book-style design with its trifold approach.

Rather than simply making a larger folding display, the Galaxy Z TriFold unfolds twice, giving users a screen that behaves like a foldable tablet while remaining compact enough to fit into a pocket.

This evolution is possible because Samsung has spent years refining both its hardware and software. The new One UI 8.5 is heavily optimised for multitasking across multiple screen sections, allowing three or more applications to run comfortably without feeling cramped.

Foldable Features:

• Processor: Qualcomm Snapdragon 8 Elite Gen 5
• Display: Triple Dynamic AMOLED 2X panels with an adaptive 120Hz refresh rate and an unfolded display measuring nearly 10 inches
• Battery and charging: 5,600mAh battery with 45W wired charging
• Durability: Reinforced Armour Aluminium frame, IP48 rating

Unique Feature:

The Galaxy Z TriFold’s biggest advantage is its trifold design.

Unlike other foldables that simply double the screen size, Samsung’s design unfolds twice to create an almost tablet-sized workspace. That makes it ideal for professionals who frequently multitask, edit documents, watch videos or use Samsung DeX-like desktop features without carrying an additional device.

Price: Starts at approximately $2,799 (N3.8 million), making it one of the most expensive consumer smartphones ever released.

2. OPPO Find N6

While Samsung continues to experiment with new form factors, OPPO has taken a different approach. The Find N6 focuses on refining almost every aspect of the traditional book-style foldable rather than reinventing it. The result is one of the most balanced foldables released so far this year.

The Find N6 continues OPPO’s tradition of hardware optimisation. Instead of focusing solely on being the thinnest, OPPO combines flagship performance, impressive battery endurance and one of the least noticeable display creases currently available on a foldable smartphone.

Foldable Features:

• Processor: Qualcomm Snapdragon 8 Elite Gen 5
• Display: Large LTPO AMOLED inner display with a 120Hz refresh rate and 2,500 nits of peak brightness
• Battery and charging: 6,000mAh Si-C battery with 100W wired charging
• Durability: Aircraft-grade hinge construction, IP59 rating

Unique Feature:

The Find N6 excels in balance.

Many foldables excel in one area while compromising another. OPPO combines excellent battery life, a premium display, flagship performance and a lightweight design without any obvious weaknesses. For many buyers, it comes closest to being the all-round foldable flagship of 2026.

Price: Starts at around $1,699 (N2.3 million), making it a more affordable choice than Samsung’s TriFold while still offering flagship hardware.

3. Honor Magic V6 (2026 Foldable)

Honor is showing no signs of slowing down. After launching the 600 Pro, one of its most talked-about flagship smartphones earlier this year, the company followed up with the Magic V6, continuing its reputation for packing powerful hardware into an ultra-thin design.

Even with its slim profile, the Magic V6 houses Qualcomm’s latest Snapdragon platform alongside one of the largest batteries found in any premium foldable, proving that thin smartphones no longer have to sacrifice battery life or performance.

Foldable Features:

• Processor: Qualcomm Snapdragon 8 Elite Gen 5
• Display: Dual LTPO OLED displays with a 120Hz refresh rate
• Battery and charging: 6,660mAh Si-C battery with 80W wired charging and fast wireless charging
• Durability: Advanced titanium hinge, IP69 rating

Unique Feature:

The Magic V6’s greatest strength is how much technology Honor manages to fit into such a slim body.

At just 4mm when unfolded, it combines one of the largest batteries in the foldable market with flagship cameras, premium displays and top-tier processing power. It is also one of the easiest foldables to recommend for users who want a familiar slab-style smartphone that unfolds into something larger.

Price: Starts at $1,799 (around N2.4 million), although it may cost more in Nigeria because of import duties and exchange rate fluctuations.

4. Motorola Razr Fold

Motorola surprised consumers this year by introducing the Fold form factor to the Razr lineup.

Previously, the Razr series focused almost entirely on clamshell-style flip phones. The Razr Fold changes that by adopting a larger book-style design while maintaining Motorola’s emphasis on clean software and practical usability.

Powering the device is Qualcomm’s latest Snapdragon platform with custom Oryon V3 CPU cores and an Adreno GPU, delivering excellent multitasking performance that complements its expansive 8.1-inch internal display.

Foldable Features:

• Processor: Snapdragon 8 Elite Gen 5 with Qualcomm Oryon V3 CPU architecture
• Display:1-inch LTPO OLED internal display with a 120Hz refresh rate and up to 6,000 nits of peak brightness
• Battery and charging: 6,000mAh battery with 68W wired and 80W wireless charging
• Durability: Reinforced titanium hinge, IP48/IP49 rating

Unique Feature:

Motorola’s biggest advantage is its software experience.

Instead of overwhelming users with numerous multitasking features, Motorola keeps Android close to Google’s vision while introducing thoughtful foldable optimisations. The result is one of the cleanest and easiest foldable experiences available, particularly for users migrating from traditional smartphones.

Price: Starts at around $1,599 (about N2.1 million in Nigeria), making it one of the more competitively priced premium foldables released this year.

Foldable smartphones are expensive, but they now provide better value than they did just a few years ago.

Among the devices reviewed, the OPPO Find N6 delivers the best balance of price, battery life, performance and display quality, making it the strongest overall value for buyers who want a premium foldable without paying Samsung’s premium prices.

What all four devices have in common is Qualcomm’s latest flagship Snapdragon platform, which delivers the level of performance expected from smartphones in this price category.

Combined with advances in hinge engineering, Si-C batteries and flexible OLED technology, manufacturers are now able to pack powerful hardware into devices that become remarkably thin when unfolded.

The standout innovation, however, belongs to the Galaxy Z TriFold. As foldable technology continues to evolve, the next challenge for manufacturers will be making these devices thinner, more affordable and accessible to a wider range of consumers.

The post Top Foldable Smartphones of H1 2026 appeared first on Tech | Business | Economy.

The nomination window runs from July 15 to September 9, 2026, ahead of the Unstoppable Africa 2026 event scheduled to hold in New York from September 20 to 21.

The campaign will highlight individuals whose work is creating opportunities and driving progress across different sectors on the continent.

As part of the activities around Unstoppable Africa, GABI’s flagship event co-convened by the United Nations and African Union and organised by the UN Global Compact, the campaign will focus on five categories: Energy, Digital Transformation, Trade, Creative Industries and Sports.

Through the Energy category, GABI will recognise leaders working on solutions that improve access to sustainable and reliable energy. The Digital Transformation category will spotlight individuals advancing Africa’s digital economy through technology, innovation and infrastructure.

The Trade category will focus on people creating new economic opportunities, supporting regional trade and helping African businesses expand. Meanwhile, Creative Industries will recognise those building businesses across areas such as film, music, fashion, art and design.

The Sports category will highlight athletes, investors, administrators and innovators using sports to create jobs and develop new economic opportunities.

GABI said the campaign aims to bring more attention to business leaders and innovators whose contributions may not always receive global recognition.

Sanda Ojiambo, UN assistant secretary-general and CEO, and executive director of the UN Global Compact, said the initiative shows the importance of African entrepreneurs and businesses in global markets.

“With 12 of the world’s 20 fastest-growing economies in Africa, the continent’s contribution to business, trade and investment continues to grow. Every day, African entrepreneurs, innovators and business leaders are shaping industries, driving markets and strengthening economies. 

“Through the Unstoppable Africans campaign, we want to recognise these changemakers, celebrate their achievements and provide a global platform to share their stories. We encourage people across Africa and around the world to nominate the individuals whose work deserves to be seen and recognised.”

Individuals can nominate themselves or others whose work is contributing to business, investment, innovation or economic opportunities across any of the five focus areas.

Interested individuals can submit nominations before the September 9, 2026 deadline. Following the close nominations, GABI will select five changemakers, one from each category, to feature in its #UnstoppableAfricans storytelling series ahead of Unstoppable Africa 2026.

The selected stories will be shared with business leaders, investors, policymakers and partners globally.

The event will take place at the Marriott Marquis in New York under the theme, “Powering Business, Scaling Economies, Shaping the Future.”

The post GABI Invites African Entrepreneurs to Submit Nominations for #UnstoppableAfricans 2026 appeared first on Tech | Business | Economy.

The Rural Electrification Agency says it has deployed artificial intelligence (AI)-powered planning and monitoring systems to map more than 750,000 communities across Nigeria as part of efforts to improve rural electrification.

The agency disclosed this on Tuesday at the Solar & Storage Live Nigeria Conference hosted by the Renewable Energy Association of Nigeria (REAN), where policymakers, investors, manufacturers and renewable energy developers discussed opportunities in solar power, battery storage and other clean energy technologies.

Speaking at the event, Abba Aliyu, managing director and chief executive officer of the Rural Electrification Agency, said the AI-powered platform enables the government to determine the most suitable electricity solution for each community.

“REA has deployed AI-enabled planning and monitoring systems to map more than 750,000 communities across the country, enabling the government to identify the most suitable electrification solution for each location, whether through mini grids, solar home systems or conventional grid extension,” Aliyu said.

He added that the agency is also deploying AI-enabled smart meters and central monitoring systems to improve the efficiency and performance of mini grids while strengthening transparency and accountability in project implementation.

Aliyu described battery storage as the next major growth area in Nigeria’s electricity sector and urged investors to take advantage of emerging opportunities as the country expands renewable energy deployment.

According to him, intervention programmes such as the Distributed Access through Renewable Energy Scale-Up (DARES) initiative and the upcoming Desert to Power programme are helping to reduce investment risks and attract more private capital into Nigeria’s renewable energy market.

He also said engagements with state governments have strengthened support for renewable energy investments through faster land acquisition, better policy alignment and investment promotion efforts.

Also speaking at the conference, the Renewable Energy Association of Nigeria (REAN) called for increased investment, closer collaboration among industry stakeholders and sustained government support to accelerate the country’s transition to clean energy and expand access to affordable electricity.

Ayo Ademilua, president of REAN and chief executive officer of A4&T Power Solutions, said the conference was designed to expose local industry players to global innovations while attracting more investment into Nigeria’s growing renewable energy sector.

He said Nigeria must fully harness its abundant renewable energy resources, including solar, hydro, wind and biomass, to improve electricity supply and diversify the country’s energy mix.

Ademilua also rejected the notion that renewable energy is too expensive, saying advances in technology and wider adoption have significantly reduced the cost of solar solutions over the past decade.

“Renewable energy should not be viewed from the perspective of initial cost alone. When you invest in renewable energy, you are investing in assets that serve you for many years, unlike fossil fuels where you continue to spend on fuel,” he said.

The post REA to Use AI to Map 750,000 Nigerian Communities for Electrification appeared first on Tech | Business | Economy.

Migration is not modernisation. Unfortunately, many companies have merged the two, and the result is a gap that’s creating incoherence and a lack of visibility, constraining their ability to benefit from AI and its capabilities.

Cloud migration has been sold as digital modernisation, but this only changes the address of the system. Real modernisation changes architecture, data models, integration logic, and the capacity to generate value. Companies want their modernisation projects to actively reduce other costs, show long-term ROI, and empower their staff with systems that work faster and smarter. So, when migration and modernisation are confused, companies end up paying cloud prices for on-prem problems and arrive in the AI era without the foundations required to ensure AI can function effectively.

This widening gap between technology investment and business outcomes creates its own set of problems. Invisible data and constrained AI capacity and system incoherence tend to fall in the cracks left by this gap and leave companies behind on the curve of adoption. The capabilities that define how competitive companies are operating in 2026, such as predictive analytics, natural language querying, automated reconciliation, and intelligent workflow routing, are all cloud-native by architecture and can’t run on a legacy on-premises ERP.

In a recent McKinsey report on the State of AI in 2025, the survey across nearly 2,000 executives in 105 countries found that 88% of companies have started to use AI in at least one area of the business, an increase from 78% in 2024. However, only 39% are able to attribute any measurable EBIT impact to AI.

As McKinsey says:

‘Meaningful enterprise-wide bottom-line impact from the use of AI continues to be rare.’ Companies that are extracting value share one structural characteristic, the AI can see their core systems.

On-premises ERP systems are struggling uphill within the AI economy. They hold their data in local databases, and to make this usable for AI, it has to be extracted, cleaned and pushed somewhere accessible. And this entire process slows down the entire

AI insights value chain because the data is no longer live, and the insights it produces are out of date. It’s a challenge felt by many companies sitting on ERP platforms that aren’t quite agile and accessible enough for the onslaught that is AI, and it also can’t be completely resolved with middleware or custom integrations.

These workarounds can often cost the company more money and introduce latencies that still don’t deliver what a cloud-native deployment can provide as standard. Without real-time data pipelines feeding into core systems, AI deployments remain siloed and limited.

There is a financial case for moving from legacy ERP to a more agile and modernised cloud deployed system that sits outside the AI discussion as well. According to the Forrester TEI study on Dynamics 365 Business Central, companies moving into ERP modernisation can also see a potential return on investment of 265% with measurable productivity gains across operations (12.5%), sales (15%) and finance (15.6%).

Hardware refresh cycles, manual upgrades, patch management and backup infrastructure carry costs that are easy to underestimate because they’re distributed across time and teams.

And as companies keep their ERP systems on-prem, the real question isn’t what gaps are left or the siloes that limit collaboration, but rather what you can’t do. And that question is becoming more urgent with each update cycle.

ERP systems benefit from automatic updates and refreshes, now bringing new AI capabilities with each update cycle, where on-premises platforms are only receiving maintenance. It’s a sticky space to be in, especially for companies that are trying to minimise expenditure and tighten budgets.

Fortunately, ERP platforms and integrations have modernised alongside the architecture. ERP migration partners work across the full Microsoft stack, from legacy on-premises environments through to Dynamics 365 Business Central and Finance and Operations.

Business Central has become a solid fit for companies wanting a capable and manageable platform built for growth, while Finance and Operations slots into larger and more complex companies.

Getting the tech right before the migration determines whether or not the project delivers on its promise or simply moves the problem to a new postcode. It also addresses the cost problem, optimising migration to budget expectations and a clearly defined ROI.

The same Forrester study found that companies that have made this move correctly have avoided more than $30,000 in third-party consulting fees annually. It’s a saving that comes from reduced complexity and streamlined optimisation through the cloud, and is why the quality of the migration partner is as important as choosing the right ERP.

Modernisation is not migration, but the right migration is definitely a step towards modernisation and removing the barriers inhibiting access to next-generation AI capabilities.

The post AI is Changing the Role of the Enterprise Resource Platform appeared first on Tech | Business | Economy.

Nigeria is undeniably Africa’s leading home for unicorn startups, accounting for five of the continent’s 12 companies valued at more than $1 billion.

According to the 2025 Global Innovation Index, Nigeria’s unicorns include

• Flutterwave,
• OPay,
• Moniepoint,
• Interswitch and
• Andela, among companies enabling the country to stay ahead of South Africa, Egypt, Kenya and Senegal in the number of billion-dollar startups.

However, experts have warned that maintaining this position will require deliberate action as startup funding continues to decline and investors become increasingly cautious.

Data from Africa: The Big Deal shows African startups raised about $5.2 billion in 2021 before funding dropped to around $3.3 billion in 2022 and $2.9 billion in 2023. Investment remained below previous highs in 2024 as rising global interest rates slowed venture capital activity.

The experts warned against relying too heavily on fintech and foreign venture capital, arguing that Nigeria can still produce the next generation of unicorns if local investors, founders and government each play their part.

Local capital, infrastructure key to future growth

Chigozie Njoku, co-founder and CEO of Afiari, said shrinking funding has made local risk capital more important for early-stage founders.

“What now needs to happen is that more local capital is required as risk capital to encourage more builders to build and grow businesses before larger investors can then come in.

“Capital is always looking for where it can be returned and if we are able to prove the market by leveraging local capital early enough, it can easily attract more funding to scale more startups to unicorn status and then create a ripple effect for more funding in the ecosystem,” he said.

Njoku noted that funding has declined over the past few years as high interest rates and global economic uncertainty forced many international investors to scale back their activities.

Beyond funding, he identified poor infrastructure as another major obstacle to building billion-dollar companies.

According to the Infrastructure Concession Regulatory Commission (ICRC), Nigeria faces an estimated $2.3 trillion infrastructure gap and requires about $100 billion annually to bridge it.

Njoku said inadequate infrastructure forces startups to spend valuable resources building systems that should already exist.

“This is where both the government and private sector can collaborate to lay the foundation for growth.

“Once we have great infrastructure in both physical and human development, talent becomes easy to groom since we already have the numbers, solutions can be built and adopted easily leading to growth, and capital can then come in to catalyse the growth even further. So it’s a mix of all.”

He added that building digital products without adequate internet access limits adoption and slows growth.

“The challenge, however, is in execution. Once we can execute properly, we begin to see growth happening. DFIs can then work with the government to ensure that the right things are funded, not just for international interests but also for local interests.”

Sectors likely to produce the next unicorns

Gideon Tomoloju, CEO of Pixxis Agency, believes the next generation of unicorns will come from businesses solving complex, high-impact problems rather than entering already crowded markets.

“I’m not convinced that simply creating more startups in already crowded sectors will produce Africa’s next unicorns. Companies solving deep, high-impact problems with strong barriers to entry are more likely to create outsized value,” he said.

He pointed to TerraHaptix, led by Nathan Nwachukwu, as an example of a company building advanced defence and autonomous technologies in a largely untapped sector across Africa.

Tomoloju advised founders to focus on underserved industries where innovation can deliver greater economic impact instead of launching another payments company.

While he expects fintech to continue growing, he said payments and financial inclusion are already being addressed by companies such as OPay, PalmPay and Moniepoint.

He also identified logistics as another sector with significant potential, citing Chowdeck‘s growth as proof that the market can support large-scale innovation despite its operational challenges.

“Any company that can consistently execute over the next five years while navigating Nigeria’s infrastructure and regulatory challenges could very well become the continent’s next unicorn. To me, Chowdeck has introduced a new strategy for logistics that has proven to be effective over the last three years.”

Njoku agreed that the next wave of unicorns will likely emerge from businesses that build on existing digital payment infrastructure rather than creating new payment rails.

“While we will continue to see growth in fintech solutions and perhaps a few more unicorns, the sectors that will produce more unicorns will be those that facilitate commerce at scale using the payment rails that have been built. So, rather than just sending and receiving money, using payments to solve further issues around transportation, retail, healthcare and others will see a wave of unicorns.

“Another set will be those that leverage AI to take actions for both enterprises and SMEs across industries such as education, pharmaceuticals, energy, retail and manufacturing.”

Mistakes holding startups back

Tomoloju said many founders expand too quickly after raising capital instead of focusing on building sustainable businesses.

“After raising capital, they move into larger offices, hire faster than necessary, upgrade their lifestyles or spend heavily on sponsorships that don’t directly contribute to growth. Sustainable businesses are built on operational discipline,” he said.

He also argued that more founders need practical business knowledge, stressing that building a successful company requires more than developing good software.

“Great technology alone doesn’t guarantee a successful company.”

Government’s role

Tomoloju said the government must place greater priority on entrepreneurship and innovation through well-funded incubator and accelerator programmes that equip young Nigerians with practical business skills.

“Our education system is producing graduates, but too few are adequately prepared for the realities of building businesses in a challenging economic environment.”

He also called for policies that encourage highly skilled Nigerians in the diaspora to return and contribute to the country’s innovation ecosystem.

According to him, the government must address the basic conditions businesses rely on, including stable electricity, reliable internet access, quality infrastructure and predictable policies.

He said these improvements would strengthen local businesses and rebuild investor confidence in Nigeria’s technology ecosystem.

Tomoloju also urged founders to reduce their dependence on foreign capital and focus on building businesses with sound unit economics, sustainable revenue and long-term resilience.

He noted that the investment climate has changed significantly since the technology funding boom of 2019, when venture capital flowed more freely into Nigeria. Hyperinflation, currency volatility and the collapse of several startups have since made investors more cautious.

Despite the slowdown, data from Africa: The Big Deal shows African startups raised $3.2 billion in 2025, representing a 40 per cent year-on-year increase, driven largely by a surge in mega funding rounds.

The post How Nigeria Can Retain its Position as Africa’s Unicorn Capital appeared first on Tech | Business | Economy.

The competition showcased innovative business solutions from young founders across technology, fashion, education and the creative economy. This reinforced the growing role of entrepreneurship in solving local challenges and creating economic opportunities.

Over the course of the competition, these 10 founders pitched solutions designed to address everyday problems, with entries assessed on innovation, scalability, market viability and potential impact.

The Pitchathon provided participants with an opportunity to present their businesses before a panel of judges while gaining visibility, feedback and access to valuable networks.

At the end of the competition, Samiat Damilola Yusuf secured the first-place prize of ₦2.5 million for Aplikant, a technology AI powered platform designed to manage applications, track participants, take attendance, and generate impact reports.

Amina Jummai Mayaki, creative director of Vogues by Maj, claimed the second-place prize of ₦1.5 million for her fashion brand, while Abdullahi Muhammed Jamil received ₦1 million for Roomie, an application that helps university students find compatible roommates, addressing a common challenge faced by undergraduates across Nigeria.

The quality and diversity of the ideas reflected the growing confidence of Nigeria’s startup ecosystem. According to the 2024/2025 Global Entrepreneurship Monitor (GEM) Global Report, entrepreneurial activity continues to be a major driver of innovation, employment and economic resilience across emerging economies, with young founders playing an increasingly important role in building scalable businesses.

Reflecting on the competition, Abu-Sufyan Aliyu, senior manager, Sales, North-East Region, MTN Nigeria, said:

“The Gathering on 100 Pitchathon brings young people together with mentors, collaborators, business partners and opportunities that can help move their ideas forward. Beyond the grants, we want every participant to leave with new knowledge, stronger networks and the confidence to keep building. That’s what it truly means to Live It 100.”

The Kano edition attracted more than 500 Pitchathon applications, reinforcing the competition’s growing reputation as a launchpad for young entrepreneurs.

Following the success of previous editions in Lagos, Aba and Enugu, where winning startups received a combined ₦55 million in seed funding, the initiative continues to connect promising founders with the resources and support needed to scale their ideas.

The post The Gathering on 100 Pitchathon Awards ₦5 Million to Entrepreneurs in Kano appeared first on Tech | Business | Economy.

The joint offer values PayPal at $60.50 per share, about 28% above the company’s closing share price on Tuesday.

The proposal, submitted earlier this month, is backed by about $50 billion in financing committed by banks, making it one of the biggest funding packages seen in a technology acquisition.

The people, who spoke on condition of anonymity because the talks are private, said Stripe and Advent first approached PayPal in early April.

They added that PayPal has not yet responded to the latest proposal, although the two firms hope to move discussions forward in the coming weeks.

If the acquisition goes ahead, Stripe and Advent would each own an equal stake in PayPal. The proposal does not involve breaking up the company.

PayPal, Stripe and Advent all declined to comment.

Investors reacted positively to the report as PayPal shares climbed 16.2% in pre-market trading.

PayPal was one of the companies that helped bring digital payments into the mainstream. However, it has found it difficult to keep pace as consumers turned to services such as Apple Pay and Google Pay, while newer financial technology firms expanded their presence.

The company’s market value reached about $360 billion in 2021 during the pandemic-driven boom. Since then, slowing growth and tougher competition have reduced its valuation.

Earlier this year, its market capitalisation fell to about $36 billion, and the stock has lost more than 40% of its value over the past year.

The company has also been restructuring its business under chief executive Enrique Lores, who took over in March.

In April, PayPal reorganised its operations into three divisions covering checkout, Venmo and consumer financial services, and payments and cryptocurrency. The company also made several management changes as part of a turnaround plan.

In May, Lores said PayPal would use artificial intelligence to simplify operations and remove duplicated roles across the business. The company expects those efforts to save about $1.5 billion over the next two to three years and plans to reinvest the savings to support future growth.

Despite its challenges, PayPal still reports steady business performance. First-quarter revenue rose 7% year-on-year to $8.35 billion, beating analysts’ expectations of $8.05 billion. On a currency-neutral basis, total payment volume increased 8% to about $464 billion.

For Stripe, acquiring PayPal would expand its reach into consumer payments through PayPal’s checkout services and Venmo, while strengthening its existing business serving merchants and enterprises.

Stripe, which is still privately owned, was valued at $159 billion in a February share sale, more than 70% higher than a year earlier.

Currently, companies across the global payments industry are seeking larger scale and stronger positions in faster-growing areas such as cross-border payments and business-to-business transactions.

Last year, Global Payments agreed to acquire Worldpay from FIS and GTCR in a $24.25 billion deal. Canadian payments company Nuvei also acquired Payoneer for $2.75 billion with backing from Advent International and other private equity investors.

Meanwhile, Mastercard is exploring the sale of a majority stake in its UK payments business, Vocalink, back to British banks following concerns over foreign ownership of critical financial infrastructure.

The post Stripe, Advent Make $53 Billion Bid to Acquire PayPal appeared first on Tech | Business | Economy.