The event brought together founders, venture capital investors, corporate venture arms, philanthropic organisations and policymakers to examine the state of Africa’s private capital ecosystem.

AVCA Chief Executive Officer Abi Mustapha-Maduakor opened the summit and commended the resilience of the venture capital sector through difficult funding cycles.

She said that despite tougher fundraising conditions, “venture-backed exits reached a record high in 2025,” pointing to what she described as a shift in the market. She added, “The centre of gravity is moving toward local capital, local expertise, and local conviction.”

A keynote fireside conversation followed between actor and investor Boris Kodjoe and AVCA’s CEO. Kodjoe focused on how perception influences investment decisions and market behaviour. He said, “Storytelling is economic architecture, those who control the narrative shape valuation, and perception is what drives investment.”

The AVCA VC summit then moved into deeper industry discussions on the structure of venture capital in Africa.

A panel titled From Hype to Fundamentals: Resetting the African VC Story brought together Tidjane Dème of Partech Partners, Sapna Shah of Novastar Ventures, Fatoumata Bâ of Janngo Capital, and Mohamed Eissa of the International Finance Corporation (IFC).

The session focused on whether global venture capital models align with African market realities and where expectations have not matched outcomes.

Tidjane Dème pushed back against the idea that the ecosystem is underperforming. He quoted Ido Sum, saying, “African venture capital isn’t broken, it’s just young.” 

He added, “A decade ago, we saw around 30 deals a year; today, that number exceeds 500. We’re still building, and we can’t compare ourselves to a 50-year-old U.S ecosystem just yet. We have time.”

Mohamed Eissa also highlighted the scale of growth in funding. “This ecosystem is still very young, but it has grown from about $400 million of annual investment to roughly $4 billion in just over a decade, clear evidence that the capital base is expanding, even if it’s still not enough.”

Attention later shifted to exit routes and liquidity challenges in the market. Industry participants including Patricia Rinke of AfricInvest, Ibrahim Sagna of Silverbacks Holdings, and Andreata Muforo of TLcom Capital discussed the importance of collaboration in improving exits.

They also pointed to mergers, acquisitions and strategic sales as more practical liquidity options than public listings in many cases.

Speaking on the role of domestic capital, Alex Rumanyika of Uganda’s National Social Security Fund (NSSF) called for stronger participation from African institutional investors.

He said, “If we don’t get into this space, it is going to be an existential threat for NSSF and many pension funds. We need to diversify away from overexposure to government assets and into the sectors where jobs are actually being created.”

The conference was followed by a Private Credit Summit, where investors discussed new financing approaches shaping Africa’s private capital market. The focus shifted to credit strategies and how they are expanding funding options for businesses across the region.

Nathaniel Micklem of Ninety One said, “Private credit is one of the most exciting parts of our asset management platform, but it cannot be built using imported public equity or private-equity instincts. What works in Africa is deploying into stronger, more resilient businesses and sectors, not earlier-stage ventures or smaller SME exposures.”

Walid Cherif of BluePeak Private Capital said private credit continues to gain relevance in Africa due to its flexibility in markets where exits remain limited.

He said, “Private credit is especially suited to African markets because companies continue to perform even when exits are hard to achieve. It is an easier conversation today than it was years ago.”

He added that discipline is essential in the sector, noting that credibility with investors depends on long-term execution and returns, not just strong market narratives.

The post AVCA Spotlights African Diaspora Capital, Exit Pathways and Private Credit as Key Drivers of Growth Across the Continent appeared first on Tech | Business | Economy.

The platform, powered by C2FO and backed by the International Finance Corporation, connects suppliers, large companies and financial institutions on one system.

It allows businesses, especially micro, small and medium enterprises (MSMEs), to access cash tied up in approved invoices without collateral.

At full scale, the platform is projected to generate between $25 billion and $30 billion in annual financing for businesses in Nigeria.

CycleFlow Nigeria Chairman, Segun Ogunsanya, says the launch is designed to solve a basic problem where many small businesses deliver goods or services and wait 60 to 120 days to get paid. During that period, they find it difficult to fund operations, pay staff or take new orders.

With this system, once an invoice is approved by a large buyer, the supplier can choose to receive payment early at a discounted rate. The money can come from banks or the buyers themselves.

Segun Ogunsanya, chairman of CycleFlow Nigeria, said the platform addresses a core challenge in the financial system.

“By enabling immediate access to funds locked in accounts receivable, we are not just financing businesses; we are powering economic growth across the entire ecosystem.”

Across Africa, MSMEs make up about 90% of businesses and account for up to 80% of employment. However, access to credit is still limited. In Nigeria, many of these businesses cannot meet bank requirements such as collateral or long credit histories.

CycleFlow takes the risk away from the small business and ties financing to the credit strength of the larger buyer. That structure allows suppliers to access funds faster and on better terms.

On the economic impact, data from the IFC shows that every $1 million in financing for small businesses can create an average of 16.3 direct jobs over two years.

At scale, the platform could support more than 480,000 direct jobs in Nigeria, with indirect employment running into millions.

Mohamed Gouled, IFC’s vice president for Products & Clients, said the model changes how businesses access capital.

“Millions of MSMEs across Africa are sitting on receivables they cannot convert into much-needed capital to grow and hire. This platform changes that equation.”

The system also removes several limitations common in traditional lending. There are no loan applications, no collateral requirements and no lengthy approval processes. Suppliers decide when to access funds and at what cost.

Alexander “Sandy” Kemper, founder and CEO of C2FO, said the launch in Nigeria marks the start of a bigger expansion.

“This launch kicks off our broader strategy to bring affordable liquidity solutions across Africa and other emerging markets worldwide.”

The platform already operates globally and processes millions of invoices daily. It has funded hundreds of billions of dollars in working capital to businesses since its launch.

CycleFlow’s launch in Nigeria comes as the government focuses on stronger support for small businesses. MSMEs are important to job creation and economic growth but still face funding constraints.

Linking buyers, suppliers and financiers in one system, the platform is expected to improve cash flow across supply chains and reduce delays that slow business activity.

SMEs no longer need to wait months to be paid, they can access their money in days.

The post C2FO, IFC Launch CycleFlow in Nigeria Targeting $30bn Annual SME Financing Gap appeared first on Tech | Business | Economy.

The closing event, held on February 5, 2026, at the Lagos Continental Hotel, Victoria Island, marked the end of a year-long pilot that supported 100 women-led businesses from 23 countries. 

Backed by the International Finance Corporation (IFC) and the World Bank, in partnership with ASR Africa, women-led businesses in the first cohort mobilised more than $4 million in financing. 

Seventeen startups secured external funding, exceeding the original target set at the start of the program.

Founders from different stages, including early-stage startups and more established companies, participated in the first cohort.

Support focused on technical training, business coaching, mentorship and direct introductions to investors, with founders receiving over 120 hours of targeted technical support, more than 270 investor connections were facilitated, and about 100 mentors were involved across the continent. 

A smaller group of startups received additional advisory support beyond the standard training structure.

Speaking at the event, Marieme Niang Camara, IFC’s regional gender lead for Africa, said the pilot provided enough results to justify expansion.

“When we started with 100 women entrepreneurs, it was a successful pilot, but we realised that 100 is just the beginning for a region like Africa,” she said. 

“Now we’re moving from 100 to 1,000, and we’re doing it strategically through segmentation, from startups to growth-stage and scale-up companies.”

The initiative, built on readiness, focused on gaps faced by women founders, especially at the point where businesses move from early traction to engaging investors.

She Wins Africa leveraged catalytic grants of about $100,000 to reduce risk for private investors and this helped attract nearly $400,000 in follow-on investment from regional partners, including Octerra Capital, IMEX, Sahel Capital and Nubia Capital.

ASR Africa’s Managing Director and Chief Executive Officer, Dr Ubon Udoh, said the expansion reveals lessons from the first phase.

“We’re scaling up from the first phase of 100 women from 23 countries to 1,000 women across Africa,” he said. “This expansion will create more sustainable impact and extend the program’s geographical reach.”

Several founders shared their experiences at the closing event, revealing how the programme helped their business move from operating locally to preparing for cross-border growth, while improving internal planning and investor readiness. 

Mentorship and investor exposure also changed how they negotiated and positioned their company.

The next phase will prioritise businesses that are ready to scale, while still supporting early-stage founders. The expansion is the first of four projects planned under the She Wins Africa platform.

IFC noted that the programme aligns with its focus on private sector growth and women’s economic participation across Africa. 

ASR Africa, on the other hand, will continue to support the initiative as part of its work in economic and social development on the continent.

The closing event formally closed the pilot phase, but partners said the focus now shifts to onboarding a much larger group of women entrepreneurs and building on the results already recorded.

The post She Wins Africa Closes First Phase in Lagos, Expands Reach to 1,000 Women Entrepreneurs appeared first on Tech | Business | Economy.

This new facility is secured through sustainability-linked debt financing arranged by IFC, Proparco, Emerging Africa Infrastructure and Asia Infrastructure Fund (EAAIF) and Ninety-One.

It will fund WIOCC Group’s ongoing expansion of connectivity capacity and digital infrastructure across Africa.

Samuel Ndungu, CFO of WIOCC Group, commented:

“This new financing underscores the continued confidence of our development finance partners in WIOCC Group’s long-term growth strategy and our role in driving Africa’s digital transformation. The additional capital enables us to further scale our network infrastructure, extend our data centre footprint and enhance the resilience and capacity of our pan-African digital ecosystem. Through this, we remain steadfast in our commitment to enabling digital inclusion and making an enduring contribution to the development of Africa’s digital economy.”

Chris Wood, CEO of WIOCC Group, also commented:

“This additional financing represents another significant step forward in advancing the resilient, scalable and open-access digital infrastructure required to support Africa’s growth. It strengthens our ability to execute on our long-term vision, expand our hyperscale network and data centre footprint, and continue building the continent’s most open, interconnected digital ecosystem. We are grateful for the continued confidence of our funding partners and remain fully committed to supporting the growth, innovation and digital inclusion that will shape Africa’s future.”

Also speaking, Sarvesh Suri, IFC’s regional industry director for Infrastructure and Natural Resources, Africa, said:

“IFC is proud to deepen its long-standing partnership with WIOCC Group as they scale Africa’s digital infrastructure. Through a blend of USD and ZAR financing, we are supporting WIOCC in optimizing its capital structure, mitigating currency risk, and accelerating investments in resilient, open-access networks. This commitment reflects our strategy to expand connectivity and data center capacity across the continent—advancing digital inclusion to drive job creation and economic growth.”

Puleng Pitso, investment specialist, Ninety-One, the fund manager for EAAIF, has this to say:

“Digital connectivity is one of the most powerful enablers of economic growth in Africa. By expanding access to high-speed internet, we are unlocking opportunities for entrepreneurs, small businesses, and industries to thrive in the digital economy. EAAIF and Ninety One’s investment in WIOCC will help strengthen the foundations for inclusive growth, job creation, and innovation across the continent.”

Françoise Lombard, CEO of Proparco, said:

“The AFD Group has been supporting WIOCC since its inception back in 2007. Proparco is very proud to reinforce the long-standing partnership with this flagship African player at a time when it has successfully evolved into a diversified digital infrastructure platform. By supporting WIOCC’s expansion across terrestrial fiber, submarine cables and open-access data centers, Proparco is helping strengthen a leading network that carries an important part of Africa’s internet traffic. This new financing, arranged alongside IFC and Ninety-One, will contribute to accelerating resilient, energy-efficient connectivity solutions in markets where reliable digital services are essential for economic transformation.”

Since its inception in 2008, the Group has deployed more than USD $750 million in digital infrastructure, including the linking of open-access data centres via hyperscale connectivity, fundamentally transforming the cost, reliability, and nature of communications across the continent.

As WIOCC expands its footprint, this latest financing reinforces its focus on building a resilient, inclusive, and future-ready carrier-neutral digital ecosystem.

The post WIOCC Group Secures Additional $65 Million Debt Raise Led by IFC, Proparco, others appeared first on Tech | Business | Economy.

On Tuesday the 2nd of December, the programme brought together over 100 senior stakeholders from government, development partners, development finance institutions and the private sector, to reflect on the last six successful years of UKNIAF work and celebrate the close-out for this phase of UK government support.

Since its inception, UKNIAF has provided targeted technical assistance and advisory support to Federal and State institutions across the Power, Infrastructure Finance and Roads sectors, helping to embed evidence-based reforms and data-driven decision-making.

Through its work, the programme enabled significant finance to be mobilised and supported sector transformation in sub-national markets. It strengthened key institutions, creating a more investor-ready environment for infrastructure.

Plenary and panel sessions during the event featured senior representatives of participating ministries, departments and agencies, development partners and private actors.

These discussions highlighted how institutional capacity had evolved, where reforms had taken root, and what was required to sustain momentum.

Participants emphasised the significant contributions of the programme towards supporting economic growth and improving livelihoods. In the Power sector, UKNIAF’s success was underscored in the adoption of landmark policies, enhancing regulatory capabilities and creating new markets.

Examples included the development of the country’s first Integrated Resource Plan which charts a least cost, low carbon pathway for power sector expansion; designing advanced data capabilities at the Nigerian Electricity Regulatory Commission (NERC) to monitor and manage tariffs, grid flows and outages in real time.

And, enabling states to create their own electricity markets to meet their own needs and capitalise on their resources.

In the Infrastructure sector, participants welcomed UKNIAFs efforts to improve the planning, financing and delivery of bankable projects. Key examples included the mobilisation of $75m of financing from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme, through the provision of project preparation services to two states; accelerating sustainable mini-grids and solar plants by supporting the Rural Electrification Agency (REA) adopt new project models and technical standards. And, helping to build Nigeria’s bankable project pipeline through the design of a new project preparation facility, with ₦21billion allocated in both of the 2024 and 2025 budgets respectively for its operationalisation.

Frank Edozie, UKNIAF team lead, said:

“UKNIAF’s close-out was not an end point, but a handover for sustained delivery. For over six years, we helped strengthen institutions with tools that make Nigeria’s infrastructure landscape more transparent, climate-smart and attractive to investors, and this legacy now sits with our partners to sustain and grow.”

According to Adebayo Adelabu, the minister of Power,

“The technical assistance, capacity development, and advisory services provided under UKNIAF have laid a firmer foundation for the sustainable and inclusive electricity supply industry we are building in our nation today.”

Cynthia Rowe, head of Development Corporation for UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, added:

‘’I take great pride in the achievements of the United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF) and the strong partnership between the UK and Nigeria. Together, we have achieved milestones that once seemed far out of reach. From supporting pioneering states to take control of their electricity markets, to unlocking $75m in financing with project preparation assistance and designing Nigeria’s Climate Change Fund to attract global climate investment. Our shared success has shown what is possible’’.

Prof. Chidiebere Onyia, secretary to the State Government, Enugu State, said:

“The impact of UKNIAF is also reflected in the quality of ambassadors that have transferred the knowledge and experience from the programme into the subnational and national infrastructure delivery process leading to impact and irreversibility. UKNIAF is maybe ending as a programme, but UKNIAF’s legacy in supporting senior decision makers lives on.”

The event delivered renewed commitments from partners to sustain tools and reforms, and the dissemination and handover of knowledge products and programme outputs.

It also reinforced relationships among public, private, and development actors and deepened understanding of the roles that public and private sector players can continue to play in Nigeria’s infrastructure landscape.

Participants included beneficiary clients and donor partners such as the Nigeria Governors’ Forum, the Federal Ministry of Power, the Ministry of Finance, the Nigerian Electricity Regulatory Commission, the Rural Electrification Agency, the Transmission Company of Nigeria, key state governments and other agencies.

They were joined by donor partners and Development Finance Institutions (DFI), including the African Development Bank, World Bank, International Finance Corporation (IFC), and others, alongside private sector and civil society organisations active in Nigeria’s infrastructure and energy ecosystems.

The post UKNIAF in Nigeria: Assessing Infrastructure Advisory Achievements, Future Challenges appeared first on Tech | Business | Economy.

The investment reflects Moniepoint’s rapid growth, sustained profitability and proven impact, and will fuel its ongoing mission to power the financial dreams of millions of businesses and their customers across Africa and the global diaspora.

The round was led by Development Partners International’s African Development (ADP) III fund, with the final close anchored by LeapFrog Investments, a leading impact investor.

Other investors in the round include Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management.

Moniepoint is one of the few fintechs globally, and the first in Africa, to achieve profitability at unicorn scale while driving financial inclusion.

As Nigeria’s leading payments and digital banking platform, its customer base exceeds 10 million active businesses and personal banking customers, and it processes over US$250 billion in digital payments transaction value annually.

The proceeds of the round will be used to power the Company’s next phase of growth, enhancing its capacity to help African businesses and individuals realise their financial dreams and accelerating Moniepoint’s continued expansion across the continent and into international markets.

The closure of the funding round marks a highly successful period featuring notable product launches, such as MonieWorld, a remittance solution targeting the African diaspora in the United Kingdom and the launch of its integrated payment and bookkeeping solution designed to simplify business operations for micro, small, and medium-sized enterprises (MSMEs).

Moniepoint was ranked as one of Africa’s fastest-growing companies for the third consecutive year by the Financial Times and featured among CNBC’s list of the world’s top fintech companies in 2025.

Moniepoint Inc. (formerly TeamApt Inc.) was founded in 2015 by Tosin Eniolorunda and Felix Ike. Today, it is Nigeria’s leading business banking provider and a trusted financial platform for the country’s MSMEs.

Originally rooted in building payment infrastructure and solutions for banks, Moniepoint has considerably expanded its offerings to include digital payments, business and personal banking, credit, cross-border payments, and business management tools.

Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., said:

“This is a proud day for Moniepoint, and I extend my sincere gratitude to the entire team for their tireless work to make this possible. We founded the Company out of a genuine passion to widen financial inclusion and to help African entrepreneurs realise their potential. That same passion drives the work we do today, and it is heartening to know it is shared by leading, global institutions.

“We will not rest on our laurels. The proceeds from our landmark Series C will be deployed judiciously to generate even more momentum as we enter the next chapter of Moniepoint’s story, with financial happiness for Africans everywhere remaining our ultimate goal.”

Adefolarin Ogunsanya, Partner at Development Partners International, commented:

“Since leading the first close of this landmark Series C, we have seen Moniepoint reach new heights – delivering innovation alongside sustained growth and profitability. DPI is proud to have anchored this round, reaffirming our conviction and support for the business and its leadership team. We continue to be impressed by Moniepoint’s powerful combination of commercial success and its impact on financial inclusion, and look forward to our continued partnership with Tosin and his team as they scale further in Nigeria, across Africa and beyond.”

Karima Ola, Partner at LeapFrog Investments, added:

“MSMEs are the heartbeat of African economies – creating the majority of jobs and driving innovation. However, the vast majority have no access to digital banking and formal credit. Moniepoint has become an indispensable partner to MSMEs by empowering them with the digital tools and trust they need to transact, grow, and employ others at scale.

“At LeapFrog, our vision is to support the ongoing evolution of Africa’s financial infrastructure – where global digital payment ecosystems are well connected; cross-border payments are smooth, safe and affordable; and SMEs have seamless access to credit, digital payments, and the wider suite of financial tools they need to thrive. Our investment in Moniepoint epitomises that vision.”

Farid Fezoua, Global Director for Disruptive Technologies, Services, and Funds at IFC, said:

“IFC has extensive experience in investing in technology-driven startups that help businesses process and accept payments in emerging markets. We look forward to supporting Moniepoint’s effort to increase the adoption of digital payments among MSME retailers in Nigeria, a segment underserved by banks and other traditional financial institutions. Moniepoint provides competitively priced point-of-service devices, as well as a modern platform enabling MSMEs to access loans, bookkeeping, and several other offerings. This allows merchants to grow their business and create more jobs in a sector considered the backbone of Nigeria’s economy, where cash is still predominant.”

This latest capital raise sees Moniepoint expand its roster of blue-chip investors which already comprises institutions including QED Investors, Novastar Ventures, Lightrock, FMO, British International Investment, Global Ventures, Endeavor Catalyst, and New Voices Fund.

Financial Technology Partners acted as exclusive financial and strategic advisor to Moniepoint in this transaction.

It will be recalled that the Series C round’s first close announcement took place in October 2024.

The post Moniepoint Closes $200m Series C Funding Round Backed by DPI, Google, Visa, IFC and LeapFrog appeared first on Tech | Business | Economy.

Moniepoint’s 2025 Informal Economy Report reveals what most Nigerians already live, small businesses are earning more but gaining less.

Sixty-five percent of Nigeria’s informal businesses across the country reported an increase in revenue over the past year, but only 47% saw a growth in profit. At the same time, 79% said the cost of doing business had increased, driven mainly by higher supplier prices, transport expenses, and the relentless depreciation of the naira.

This contradiction, of higher earnings but shrinking returns, captures the state of the Nigerian economy today.

Growth Without Profits

The country’s informal economy looks alive. The markets are filled with activities, goods are moving daily, artisans are finding work, and service providers are busy, but look deeper, they are all exhausted. 

The report stresses how traders, among others, watch their margins evaporate, unable to keep pace with inflation. “The cost of doing business has increased for 80% of informal businesses in that same period. A goal for us in this report was to establish context like this: helping key stakeholders see and understand the effects of every decision made on informal businesses, and giving them a voice where they’ve previously gone largely unheard,” said Tosin Eniolorunda, founder and group CEO, Moniepoint Inc.

Unsurprisingly, 44% of Nigeria’s informal businesses make less than ₦20,000 daily in revenue, and most make profit of only ₦10,000 to ₦20,000 a day. Business owners skip meals to restock, workers forgo pay to keep their jobs.

And for women-owned businesses, 41% of women earn below ₦10,000 daily, compared to 34% of men. It tells us that Nigeria’s informal economy, while inclusive in appearance, still aligns with the inequalities of the formal one.

Survival Mode Economics

We see an economy built on individuals, isolated, unstructured and overstretched, highly fragmented. Eighty-five percent of informal businesses are sole proprietorships, usually run by one person who handles everything from supply to sales to bookkeeping. Only 40% employ labour, and when they do, it’s typically one to three workers. It’s not that they don’t want to expand, it’s just that they can’t afford to.

Record keeping is also informal. Seventy-five percent of business owners say they track their income and expenses, but 38% disclose they do so mentally, without written or digital records. Most lack a clear view of their cash flow, making them invisible to lenders and policymakers.

That lack of structure limits access to credit, planning, and long-term growth.

Credit access is also deteriorating as 51% of informal business owners have never taken a loan and have no intention to do so, compared to 30% in the last report.

Fear of debt, high interest rates, and lack of collateral keep them shut out of the financial system. Among those who borrow, only 6% have ever secured loans above ₦1 million, with digital lenders and microfinance banks emerging as their most common sources.

The result is a self-sustaining cycle of informality; low records, low credit, low growth.

Inflation and the Cost of Resilience

Inflation has become the most punishing cost of doing business in Nigeria. It’s the invisible tax that eats into every sale, every restock and every saving. 

Dr Nurudeen Abubakar Zauro, technical adviser to the President on Economic and Financial Inclusion, explained:

“With the removal of fuel subsidies and devaluation of the Naira by the monetary authorities, inflation rate increased from 22.41% in May 2023 to a climax of 34.8% by December 2024 according to the data from the National Bureau of Statistics (NBS). In July 2025, inflation rate declined drastically to 21.88%.”

For informal businesses, that drop brings a little comfort. Inflation may have eased statistically, but prices are still suffocating. The report found that while 74% of business owners save money, 69% save less than ₦50,000 monthly, and 42% say their savings cannot last a month if their business income stops.

Even the much-celebrated digital transition has not fully arrived. While many businesses use transfers to restock, most still prefer to receive payments in cash, and only 16% say digital transactions account for more than half of their total revenue. The infrastructure may be modern, but consumer behaviour is still very traditional and survival rarely leaves room for experimentation.

Policy and Structural Limitations

For an economy that contributes around 65% of the nation’s GDP and supports over 80% of jobs, the informal sector is strangely underserved by policy. It sustains Nigeria, but without protection. 

Dr Chinyere Almona, director-general of the Lagos Chamber of Commerce and Industry, noted:

“The most pressing challenge, therefore, is misaligned policy frameworks that inadequately balance revenue generation with sectoral resilience, inadvertently driving many players further into informality. What is needed is not merely regulation, but coherent regulatory empathy, a framework that recognises informality as a springboard for innovation, employment, and resilience, rather than a nuisance to be managed.”

Despite recent policy initiatives such as the Nigeria Consumer Credit Corporation (CrediCorp), the Nigeria Tax Administration Act (NTAA), and small business registration campaigns, the report disclosed that formalisation is still out of reach for most small business owners, expensive, bureaucratic and unrewarding. 

“Although many informal businesses are unfamiliar with the process of registering their business, the assumption is that it is costly and complex. These assumptions make them unlikely to attempt the process,” said Zauro.

It’s not a lack of will, but a lack of trust. 

From Resilience to Reform

If there’s one thread that ties Moniepoint’s findings together, it’s that resilience is not enough. The informal sector needs access, not a round of applause.

In her commentary, Dr. Almona called for a shift in thinking. “Policies must pivot from punitive compliance models to incentive-driven, inclusion-focused strategies to effectively support growth and formalisation.”

That means simplifying registration, improving access to finance, expanding digital infrastructure, and providing targeted support for women entrepreneurs; all areas where private sector players like Moniepoint, SMEDAN, and IFC are already collaborating and this must continue in order to bridge the trust gap between the street and the system. 

Moniepoint’s report measures Nigeria’s informal economy, exposing its weaknesses and the fatigue of millions of businesses. Nigerians are counting coins under candlelight, calculating what can wait till tomorrow. Informal businesses are the backbone of the economy, but they’re carrying too much weight without support.

Until policymakers, financiers, and regulators begin to design for their reality, not their assumptions, Nigeria’s growth will stay uneven. The country’s entrepreneurs are doing their part. It’s time the system met them halfway.

The post 65% of Nigeria’s Informal Businesses Saw Higher Revenues in 2025, But Only 47% Made More Profit appeared first on Tech | Business | Economy.

The financing includes loans of $10 million and ZAR 200 million (about USD$11) from IFC, a member of the World Bank Group, and $20 million from Proparco, a development finance institution and subsidiary of the Agence Française de Développement Group.

WIOCC expects to sign an additional $10 million loan for its expansion in Nigeria with RMB in the next few weeks.

With the funding, WIOCC Group will expand its core and edge data centres in the DRC, Nigeria, and South Africa to meet growing demand for colocation and other data centre services.

It will also grow its fibre networks, helping bridge the digital divide, and fostering economic growth across Africa.

The financing is structured as a sustainability-linked debt, with pricing linked to WIOCC’s commitment to improve the energy efficiency of its data centres and obtain EDGE green building certification for them. EDGE, an innovation of IFC, makes it easy to design and certify resource-efficient and zero carbon buildings.

“We are excited to conclude this next stage of our capital raise, which will enable significant expansion, adding further capacity to our open-access data centre operation and extending open-access hyperscale national, international, and metro connectivity across our key markets in Nigeria, southern Africa, the DRC and Greater East and Central Africa,” said Chris Wood, CEO of WIOCC Group. “Our policy of continual investment in infrastructure to create Africa’s first, truly open-access interconnected digital ecosystem means ongoing investment for growth, ensuring readiness to meet the future demands of our clients’ customers throughout Africa.”

“The Agence Française de Développement Group have been supporting WIOCC since its inception back in 2007,” said Ariane Ducreux, head of Energy, Digital and Infrastructure at PROPARCO.

“We are very proud to pursue this long-term partnership by supporting the expansion of the Open Access Data Centres’ activities in Nigeria, South Africa, DRC and beyond. Truly neutral and open-access data centres are the cornerstone of a diversified digital ecosystem. Local data storage and processing capacity are also vital for the resilience of Africa’s digital network, as recent outages have demonstrated. The sustainability-linked structure of this new financing, along with technical assistance support, also aims to incentivize the rollout of energy and water efficient data centres, while adapting implementations to the specs of each site environment,” Ducreux said.

“Our long-standing partnership with WIOCC of more than 15 years demonstrates IFC’s commitment to increasing affordable and reliable digital connectivity in Africa through shared infrastructure. This new debt facility will help WIOCC fulfil its ambition to establish an integrated, open-access, core-to-edge cloud ecosystem throughout the African continent, which is critical to bridge the digital divide,” said Bertrand de la Borde, IFC Global Industry Director of infrastructure.

“RMB is thrilled to be a Strategic Banking Partner to WIOCC. Digital Infrastructure is one of our core sectors of expertise as a Bank.  As such, we are excited at the opportunity to support this deal and remain committed to partnering with WIOCC on its growth journey across the continent,” said Chidi Iwuchukwu, head of Investment Banking, Broader Africa – RMB.

Since its inception in 2007, WIOCC has been investing in Africa’s digital backbone, delivering open-access infrastructure to meet the growing demand for reliable connectivity solutions throughout the continent.

As WIOCC Group continues to transform digital Africa, this latest capital raise signifies a major milestone in its journey towards building a more connected Africa, fostering long-term partnerships and sustainability.

The post WIOCC Group Secures over $50m from IFC, Proparco and RMB to Expand Digital Infrastructure in Africa appeared first on Tech | Business | Economy.

The money will be used to deploy more fibre optic cables from the sea to the cities and homes.

According to Susan Lund, IFC’s vice president of Economics and Private Sector Development, “The $6 billion is just the capital expenditure of building that (digital infrastructure) out it doesn’t include running and operating the infrastructure.

The World Bank has committed $2.8 billion to different digital development projects in sub-Saharan Africa over the past ten years.

These include investments in fibre optic cable deployment for high-speed internet, data centres, internet service providers, technological tools like mobile phones and laptops, and digital education initiatives.

But the investment has barely scratched the surface of the problem, as a large portion of countries in Africa remain uncovered with infrastructure.

The IFC, a member of the World Bank Group, wants to take its total investment in the continent to around $10 billion by the end of 2024.

This would be doubled in the following year according to Makhtar Diop, managing director of IFC. Much of these investments would go to innovative companies helping to encourage digital adoption in different industries.

A survey of firms in 54 countries to determine how they use the internet in their business operations, found that while more businesses are done online, not many firms are taking full advantage of online opportunities.

Only 5% of firms with fewer than five workers have computers with internet connections in countries like Ethiopia, Ghana, Kenya, Nigeria, South Africa and Uganda.

In many cases, the firms are located in areas without fibre optic cables that enable high-speed internet or they can’t afford smartphones to do digital payments.

Due to this, a further $2.7 billion is needed to assist small and medium businesses in transforming into digital companies.

Investments in this area could help support firms in the manufacturing and agriculture sectors, where digital technologies are usually required to perform specific tasks beyond the current capabilities of most firms in Africa.

The IFC sees the arrival of new submarine cables on the continent as an encouraging step to solving the infrastructure deficit. Around 30 submarine cables with hundreds of terabits of internet capacity have landed in Africa so far.

However, the cost of transmitting the internet capacity from the submarine cables to the cities where firms and individuals can access them is a costly challenge.

Helping small businesses get online not only increases their productivity it also ensures they continue to employ more people.

About 70% of the labour force in Africa is employed by these firms. This represents about 400 million workers, the IFC report noted.

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As global crises cast long shadows, Africa stands at a critical crossroads: Will the continent remain on the sidelines of history or will its leaders band together to forge a new path?

This pivotal question will drive the 2024 Africa CEO Forum, set for 16 and 17 May in Kigali, Rwanda.

This year’s theme, At the Table or On the Menu? A Critical Moment to Shape a New Future for Africa, underscores the important juncture at which the continent finds itself amidst global economic shifts and challenges.

This year’s 11^th edition of the landmark Africa CEO Forum marks more than a decade of unparalleled gatherings of Africa’s most influential leaders, innovators, and policymakers.

The Forum will tackle four transformative agendas: leadership, digital transformation, continental integration, and financing.

Through a series of panel discussions, workshops, and roundtables, participants will explore strategies to achieve the highest public policy standards conducive to growth; to ensure African business is at the forefront of disruptive innovation; to leverage Africa’s collective weight through the African Continental Free Trade Area (AfCFTA); and to creatively overcome obstacles to financing Africa’s ambitions.

Designed to spur actionable solutions, the summit will accelerate the rise of new African success stories.

Amir Ben Yahmed, president of the Africa CEO Forum, emphasises,

“We call on our community of leaders shaping the future of Africa to recognise the structural and enduring consequences of the actions they take at this critical time. The forum will be a crucible for innovative strategies and partnerships, propelling the continent into the opportunities of tomorrow.”

Sérgio Pimenta, IFC’s Vice President for Africa, said,

“Turning Africa’s $3 trillion GDP into $30 trillion by 2050 will require an unbridled African private sector, enabled by the continent’s policymakers to forge partnerships that create markets, increase intra-African trade and advance investment on the continent .”

The Africa CEO Forum is the continent’s premier gathering, uniting Africa’s top executives, global investors, and government leaders annually.

In partnership with IFC, this year’s flagship event will host more than 2,000 public and private sector decision-makers, including over 900 CEOs.

Confirmed attendees include high-profile individuals such as H.E. Wamkele Mene, General Secretary of the African Continental Free Trade Area (AfCFTA ), Makhtar Diop, Managing Director of IFC, Mesfin Tassew, Group CEO of Ethiopian Airlines, Jean-Pascal Tricoire, Chairman of the Board of Schneider Electric, James Mworia, Group CEO & MD of Centum Investment, Sudhir Ruparelia, Chairman of Ruparelia Group, Clare Akamanzi, CEO of NBA Africa, Rostam Aziz, CEO of Taifa Gas, Hardy Pemhiwa, President & CEO of Cassava Technologies or Patricia Poku Diaby, CEO Plot Entreprise Ghana, Karl Olutokun Toriola, MTN Nigeria’s CEO, Faith Mukutu, CEO of Zambeef, Diane Karusisi, CEO Bank of Kigali , Patty Karuaihe-Martin, CEO of NamibRe. Their presence underlines the forum’s status as a critical convener for those looking to shape Africa’s business landscape.

In addition, several Heads of State are expected to attend, further signifying the Forum’s pivotal role in fostering high-level dialogue and partnerships.

These leaders will join forces with attendees to contribute to a collective endeavour that promises to chart a new course for Africa’s economic future.

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