Lagos – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Tue, 02 Jun 2026 15:35:09 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Lagos – Tech | Business | Economy https://techeconomy.ng 32 32 Lagos Retains U.S. Visa Hub Status as America Cuts African Processing Centres to 20 https://techeconomy.ng/lagos-retains-us-visa-hub-status-africa-restructuring/ https://techeconomy.ng/lagos-retains-us-visa-hub-status-africa-restructuring/#respond Tue, 02 Jun 2026 15:35:09 +0000 https://techeconomy.ng/?p=182711 Lagos will remain one of only 20 cities in Africa authorised to process US visa applications under a restructuring plan by the United States State Department that will reduce the number of embassies and consulates handling visa services across the continent.

According to a report by the Associated Press (AP), the State Department plans to cut the number of African missions offering full visa processing from nearly 50 to 20 in the coming weeks.

The decision was outlined in an internal memo obtained by AP and confirmed by three U.S. officials familiar with the matter.

The development means applicants in Nigeria will continue to have direct access to full visa services in Lagos. However, people seeking US visas from countries that are not designated as processing hubs will have to travel to approved cities such as Lagos, Nairobi or Johannesburg to complete their applications.

The report said the restructuring is part of a review of US overseas operations aimed at strengthening immigration controls, visa screening procedures and deploying diplomatic resources more efficiently.

Officials linked the changes to initiatives to reduce visa overstays and strengthen enforcement, while also responding to staffing reductions across US diplomatic missions worldwide.

“The State Department plans to drastically slash the number of US embassies and consulates in Africa that can process visas for foreigners seeking to come to the United States.

“The almost 50 US embassies and consulates that are processing visa applications will be reduced to 20 in the coming weeks, according to three U.S. officials and an internal memo obtained by The Associated Press.”

Under the new arrangement, the cities that will retain full visa processing services are Abidjan, Accra, Addis Ababa, Cape Town, Dakar, Dar es Salaam, Djibouti, Johannesburg, Kampala, Kigali, Kinshasa, Lagos, Lomé, Luanda, Malabo, Monrovia, Nairobi, Port Louis, Praia and Yaoundé.

While embassies and consulates outside those locations will remain open, their responsibilities will be scaled back. They will continue providing services to US citizens, emergency assistance and selected diplomatic functions, but will no longer handle the full range of visa processing activities.

The State Department said it is reviewing overseas operations to ensure resources are aligned with US national interests and security requirements.

Although officials have not announced a final implementation date, they indicated that the changes are expected to take effect soon.

The restructuring is likely to increase travel expenses and administrative requirements for visa applicants in non-hub countries, many of whom will now need to cross borders to attend visa interviews and complete processing.

It is also expected to place additional demand on some of Africa’s busiest visa centres, particularly Lagos, Nairobi and Johannesburg, where application volumes are already high.

Lagos is expected to play an even more important part under the new system. The city already handles most US visa applications submitted in Nigeria, especially from the southern part of the country, and serves as a major commercial and diplomatic centre in West Africa.

The United States is also expanding its presence in the city through a new consulate complex under construction in Eko Atlantic City. The facility, valued at about $537 million, is expected to become one of the largest US consulates in the world and will significantly increase capacity for consular and diplomatic operations.

The changes further makes Lagos’ as a fundamental gateway for US visa services in Africa and reiterate Nigeria’s importance in Washington’s diplomatic and mobility strategy on the continent.

Secretary of State Marco Rubio has approved measures aimed at visa issuance procedures as part of efforts to strengthen immigration management and security screening, according to officials familiar with the policy.

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Rack Centre Opens Training Programme to Tackle Nigeria’s Data Centre Skills Gap https://techeconomy.ng/rack-centre-lagos-training-data-centre-skills-gap-nigeria/ https://techeconomy.ng/rack-centre-lagos-training-data-centre-skills-gap-nigeria/#respond Tue, 28 Apr 2026 13:11:22 +0000 https://techeconomy.ng/?p=180655 Rack Centre, a Lagos-based Tier III carrier and cloud-neutral data centre operator, is launching a structured training programme for university students and young engineering graduates as it seeks to grow Nigeria’s pool of technical talent.

The programme is expected to begin on Wednesday and comes as demand for digital infrastructure increases across Africa.

Growth in cloud services, artificial intelligence workloads and enterprise data storage has increased requirements on operators to find engineers who can run critical systems.

Experts in the sector say new facilities are opening, but skilled workers remain in short supply.

There’s a lot of recycling of the same people across companies,” said Adebola Adefarati, Rack Centre’s head of marketing and communications. “People move from one data centre or telco to another, and it becomes a closed loop. The industry has to start creating new talent.”

Rack Centre said many operators still depend on internal training because experienced workers are limited. The problem is bigger in Africa, where specialised training is scarce and trained staff are usually hired away by foreign firms.

According to the company, engineers who can manage infrastructure in Nigeria are especially attractive abroad because they already understand how to work under difficult conditions such as unstable grid power and high temperatures.

Once people gain experience running reliable systems in Nigeria, they become prime targets,” Adefarati said. “We’ve seen a number of our own people leave for opportunities abroad.”

Rather than compete for the same workers, Rack Centre said it wants to help build a larger talent pipeline for the industry.

Data centres usually run with small teams, but those teams need specialised knowledge. Staff must manage power systems, cooling equipment, network hardware, monitoring tools and emergency response systems around the clock.

The first group will take in between 15 and 20 trainees. Rack Centre said only some may join the company after graduation, while others could move into jobs with telecom firms and other data centre operators.

Participants will receive classroom training, technical certifications and practical experience inside a live operating facility. One certification track will be delivered with Schneider Electric’s training platform. The full programme will run for about four to five months.

Rack Centre said it will fully cover the estimated $2,500 cost per participant.

The issue is not that people aren’t studying engineering,” Adefarati said. “It’s that they’re not trained to work on systems that must run 100% of the time. Data centres are different. You’re dealing with redundant power, precision cooling, and real-time fault detection in a highly sensitive environment.”

The company said operating in Nigeria brings added pressure. Cooling systems must work efficiently in extreme heat, while power infrastructure must cope with an unreliable national grid.

Rack Centre is also developing the programme with the Africa Data Centres Association, which is working towards training up to 1,000 professionals over the next two years.

The initiative also aims to improve gender balance in the sector. Women are still underrepresented in many technical operations roles, and Rack Centre said it wants at least one-third of each cohort to be female.

Data centres are often seen as hardware,” Adefarati said. “But their success is fundamentally about people.”

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LAWMA: Lagos Recycles 405 Tonnes of E-Waste in 2025 https://techeconomy.ng/lawma-lagos-recycles-405-tonnes-of-e-waste-in-2025/ https://techeconomy.ng/lawma-lagos-recycles-405-tonnes-of-e-waste-in-2025/#respond Sun, 12 Apr 2026 16:23:35 +0000 https://techeconomy.ng/?p=179610 The Lagos Waste Management Authority has announced that the state recycled 405.17 tonnes of electronic waste (e-waste) in 2025, marking a significant milestone in its push toward environmental sustainability and safer waste management practices.

Muyiwa Gbadegesin, the managing director of LAWMA, disclosed the figures in Lagos, noting that the achievement reflects steady growth in the state’s formal recycling efforts. The latest figure represents an increase from 355.15 tonnes in 2024 and 305.63 tonnes in 2023, indicating a consistent upward trend in e-waste processing.

Rising E-Waste, Growing Response

E-waste, comprising discarded electronics such as mobile phones, computers, batteries, and household appliances, remains one of the fastest-growing waste streams globally, largely due to rapid technological advancement and consumption.

However, improper disposal poses serious environmental and health risks, as many of these materials contain toxic substances like lead, mercury, and arsenic.

In response, Lagos State has intensified efforts to ensure safe collection, recycling, and disposal of electronic waste.

Strengthening Recycling Infrastructure

Gbadegesin revealed that the state has established a dedicated e-waste management unit and partnered with 17 certified recycling companies and approved collection centres to ensure proper handling of hazardous materials.

The agency also plays a regulatory role by formalising informal waste operators, enforcing compliance with environmental standards, and expanding public awareness on safe e-waste disposal.

These measures are part of broader efforts by the Lagos State Government to build a structured and sustainable waste management ecosystem.

Experts Raise Concerns Over Capacity Gaps

Despite the progress, environmental experts warn that significant challenges remain.

Stakeholders have highlighted limited recycling capacity relative to the volume of waste generated; low public awareness at the household level, and continued dominance of informal recycling practices.

They also stress the need for stronger implementation of policies such as the Extended Producer Responsibility (EPR) framework and increased funding for environmental initiatives.

Toward a Circular Economy

As Nigeria’s commercial hub, Lagos generates thousands of tonnes of waste daily, making effective waste management critical to public health and environmental protection.

LAWMA’s progress in e-waste recycling signals a growing shift toward a circular economy, where waste is treated as a resource rather than discarded.

Outlook

While the 405-tonne milestone underscores improving capacity and awareness, experts agree that scaling infrastructure, policy enforcement, and public education will be essential to fully address Lagos’ growing e-waste challenge.

The state’s next phase will likely determine whether it can transition from incremental progress to system-wide transformation in waste management.

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NDPC Warns Content Creators Against Filming Nigerians Without Consent https://techeconomy.ng/ndpc-warns-content-creators-filming-nigerians-without-consent/ https://techeconomy.ng/ndpc-warns-content-creators-filming-nigerians-without-consent/#respond Fri, 13 Mar 2026 13:28:41 +0000 https://techeconomy.ng/?p=177772 The Nigeria Data Protection Commission (NDPC) has warned content creators against filming or photographing people in public without their consent and posting the material online.

The commission said it had received reports of individuals taking pictures and recording videos of unsuspecting members of the public and sharing them on social media.

According to the regulator, such actions violate the privacy rights of citizens protected under Section 37 of the 1999 Constitution of the Federal Republic of Nigeria and the Nigeria Data Protection Act, 2023.

Officials pointed to a recent case involving a content creator who stands by the roadside in Lagos and records members of the public as part of what she describes as a “reality show”.

The commission stated that using people’s images in that way requires consent unless the creator can clearly justify it under other lawful grounds for processing personal data.

Preliminary checks by the NDPC found that the activity amounts to a deliberate invasion of citizens’ privacy. The commission said the recordings do not serve a public interest or any legitimate purpose.

It also noted that those being filmed do not expect their images to be captured and shared online by a stranger.

Following the development, the National Commissioner and Chief Executive Officer of the NDPC, Vincent Olatunji, directed major social media platforms to strengthen enforcement of their community rules.

Platforms mentioned include TikTok, X (formerly Twitter) and Meta Platforms.

The commission said these companies must act quickly when harmful content appears on their platforms. If they fail to respond on time, the regulator warned that it may impose sanctions under the Nigeria Data Protection Act.

The NDPC also reminded content creators that they are responsible for what they publish online. According to the commission, anyone who violates the privacy rights of citizens may face legal consequences, including criminal prosecution.

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Verto Opens Lagos Office to Strengthen Fintech Growth, Cross-Border Payments in West Africa https://techeconomy.ng/verto-opens-lagos-office-fintech-cross-border-payments/ https://techeconomy.ng/verto-opens-lagos-office-fintech-cross-border-payments/#respond Mon, 10 Nov 2025 14:06:41 +0000 https://techeconomy.ng/?p=170817 Verto has opened a physical office in Victoria Island, Lagos, placing a local operations team at the heart of its West African expansion and giving Nigerian businesses a visible point of contact for cross-border payments and foreign exchange services.

The new hub, located at 21 Ahmed Onibudo Street, brings more than 25 staff onshore. It will oversee customer support, drive product development targeting West African markets, and enhance collaboration with banks, payment service providers, and regulators.

Verto Launches Lagos Office
Ola Oyetayo, Verto co-founder and CEO

Verto said the decision to open in Lagos follows growing demand from businesses seeking an on-the-ground partner rather than a fully remote platform.

Over the years, Verto “has supported over 5,000 Nigerian and African businesses” and “processes more than $25 billion USD in annual global transactions today across 200+ countries and 49 currencies.”

How Verto Wants to Transform Global Payments for Fintechs, Online Marketplaces

Co-founder and Chief Executive Officer, Ola Oyetayo, noted the scale of the business, saying, “We do about $3 billion a month in transaction volume, you know. So it’s a lot of volume, 49 currencies.”

Country Director for Verto Nigeria, Austin Okpagu, described the launch as a long-term commitment to the Nigerian market.

As Africa’s largest and most innovative fintech hub, Nigeria offers a dynamic environment for digital trade, entrepreneurship, and financial innovation, making it the natural anchor for Verto’s West African operations. 

“This hub allows us to respond faster to client needs, craft solutions tailored to local markets, and work even more closely with regulators and financial partners across the region.”

Oyetayo traced Verto’s beginnings to his years in the United Kingdom, where he began informally matching Nigerians abroad who wanted to invest at home with those in Nigeria who needed to pay for goods and services overseas.

That’s really how Verto started, on WhatsApp, people would come to me saying, ‘I need $10,000,’ and I’d find someone who needed naira. I matched both of them together,” he said.

That origin story revealed why physical presence is now important. For several years, Verto deliberately maintained a low profile in Nigeria, preferring to prove its model first while navigating changing financial regulations. 

However, customers increasingly wanted local access, a physical office where they could resolve issues, speed up onboarding, and interact with a responsible team, especially amid Nigeria’s volatile FX cycles.

Local partners also backed the decision, as the CEO from Paga described the working relationship as creative and solution-driven:

We’ve been able to call on you guys and say, here’s what we’re thinking about. Can we think about it together? And they’ve been very creative about how to resolve.”

A technology customer added that Verto’s pricing structure and reliability had simplified operations:

Within a month, at least, making transactions and payments to suppliers all around the world… I like the fact that I don’t have to haggle. The price is the price. Could it be better? Can always be better, right? But it makes it so much easier for my team to validate their pricing, knowing that there’s one place they get the pricing and they plug it in, and it makes our workflow a lot more.”

At the launch of the new Verto Lagos office, the company outlined three operational priorities for its Lagos team: stronger customer relationships, tailored product development (including the rollout of Verto Atlas), and enhanced naira liquidity through deeper partnerships with local banks and payment processors.

The CEO stressed that the office represents a sustained investment, not a publicity move. He also emphasised the importance of trust and compliance, noting that the company values reliability over short-term pricing gains.

The event, featuring live product demos, customer testimonials, and open discussions about collaboration, brought together long-time customers, banking partners, regulators, and fintech stakeholders.

Verto said the Lagos team will focus on improving onboarding times, expanding collection and payout solutions, and optimising account services in the coming months.

The new office is a focus from a purely digital, global fintech model to a hybrid approach, platform scale supported by local expertise. In Nigeria, where trust and physical presence are essential to business relationships, that transition could prove decisive.

The new Verto Lagos office is located at 21 Ahmed Onibudo Street, Victoria Island. The company operates globally with offices in London, Cape Town, Nairobi, Pune, Dubai, New York, and Malta, and supports over 49 currencies across multiple African and international markets.

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TGIPay Launches New Payment Gateway to Drive Africa’s Digital Economy https://techeconomy.ng/tgipay-launches-payment-gateway-africa-digital-economy/ https://techeconomy.ng/tgipay-launches-payment-gateway-africa-digital-economy/#respond Mon, 03 Nov 2025 12:33:23 +0000 https://techeconomy.ng/?p=170390 TGIPay has officially launched its next-generation payment gateway in Lagos, introducing a platform designed to simplify and secure digital transactions for businesses across Africa. 

Marking its entry into the continent’s expanding digital economy, the launch, attended by representatives of the Central Bank of Nigeria (CBN), key industry partners and regulators, highlighted TGIPay’s goal to drive seamless and secure financial transactions across the continent.

TGIPay was designed to simplify payment collection and processing for businesses of all sizes, offering multi-channel acceptance options, including cards, transfers, USSD, and bank accounts. 

The platform provides real-time settlements, intuitive dashboards, and developer-friendly APIs, making it a comprehensive solution for merchants navigating Africa’s growing digital commerce landscape.

Speaking at the launch, Gbolahan Raji, managing director and chief executive officer of TGIPay, said the company aims to close the gap between financial inclusion and digital adoption across the continent.

TGIPay is more than a payment gateway; it’s a catalyst for growth,” he said. “We have built a platform that empowers businesses to scale effortlessly, giving them tools to collect payments securely and manage transactions transparently. Our mission is to redefine trust and reliability within Africa’s payment ecosystem.”

Also addressing guests, Olumide Adebowale, chairman of TGIPay, reaffirmed the company’s commitment to innovation and collaboration.

Africa’s payment landscape is evolving rapidly, and TGIPay is here to set a new standard of excellence,” Adebowale noted. “Our collaborations with banks, fintechs, and regulators demonstrate our commitment to building sustainable solutions that simplify commerce, strengthen compliance, and foster confidence in digital payments.

This vision has been over three decades in the making — a dream conceived more than 30 years ago has thoughtfully been nurtured into reality. Seeing it come to life today is both humbling and deeply fulfilling. I extend my sincere appreciation to everyone who contributed to turning this long-held dream into a thriving platform that will shape Africa’s financial future.”

TGIPay’s technology is built on a unified payment experience that enables merchants to receive payments via cards, bank transfers, USSD, or bank accounts, all from a single dashboard. Its smart settlement system supports real-time tracking and instant notifications, while its PCI DSS–certified security framework ensures robust protection for every transaction.

Tanitoluwa Adebowale, chief technology officer of TGIPay, shed further light on the company’s technology-first approach.

Our goal from day one was to build a platform that doesn’t just process payments but anticipates risks, ensures reliability, and scales intelligently. Every line of code at TGIPay reflects our commitment to performance, data integrity, and security. This product represents our commitment to innovation and excellence, and we are excited to see how it will positively impact our customers and the market. We are obsessed with creating technology that serves people — safely and seamlessly.”

In line with this, Lanre Adelanwa Basamta, co-founder and CEO of Optimus AI, commended TGIPay’s dedication to building a secure and resilient infrastructure.

TGIPay’s intentionality toward data protection and user security is impressive. Their architecture shows deep respect for customer trust — a quality that sets them apart in today’s fintech landscape. It’s refreshing to see a platform built with such precision and foresight.”

The launch featured live demonstrations, partner showcases, and networking sessions, underscoring TGIPay’s readiness to reshape how businesses and consumers transact across Africa.

As TGIPay embarks on its continental expansion, its focus remains on building trust, simplifying payments, and accelerating financial inclusion.

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Turning Trash into Intelligence: How TrashDisappears is Using AI to Clean Nigerian Cities, Boost Urban Data https://techeconomy.ng/trashdisappears-ai-waste-management-nigeria/ https://techeconomy.ng/trashdisappears-ai-waste-management-nigeria/#respond Fri, 24 Oct 2025 08:21:47 +0000 https://techeconomy.ng/?p=169889 When we say Nigerian cities are drowning, it’s not just in waste, but in missed opportunities. The World Bank estimates that Africa generates over 125 million tonnes of solid waste each year, however, only 44% is collected properly. 

In Lagos alone, where over 14,000 tonnes of waste are produced daily, much of it ends up clogging drains, encouraging floods, and releasing toxic fumes into the air. 

Still, every street corner is filled with piles of trash that never quite disappear.

For Anthony Obiorah, founder of TrashDisappears, this was a systems problem begging for a smarter solution, it wasn’t limited to a civic failure.

His Lagos-to-Abuja moving experience stimulated the idea. “I had lots of trash that I needed to dispose of,” he said. “It occurred to me that if I could sell them, I could actually make something from them. But when I went online to look for recyclers, I couldn’t find any. That was when I realised this wasn’t just an environmental issue, it was a connectivity problem.”

Anthony Obiorah, founder of TrashDisappears
Source: TrashDisappears

That moment birthed TrashDisappears, a young Nigerian startup building what Obiorah describes as a “smart waste ecosystem”, a platform that connects households, waste collectors, and recyclers through a simple mobile app. 

Using AI, the platform maps collection routes, classifies waste, and matches recyclers with verified waste streams.

It reframes waste not as an eyesore, but as data, information that, if organised, could clean cities, reduce emissions, and create jobs.

Nigeria’s waste value chain is greatly fragmented. Informal collectors, municipal trucks, and recyclers usually operate in isolation, without coordination or reliable data. Obiorah saw this gap early on and decided to take what he calls a “systems-level approach.”

Yes, it was intentional,” he said when asked about his strategy. “We know the whole system has been fragmented. You just have collectors, you just have recyclers. There is no connectivity. What we are trying to do is create that marketplace that connects all the stakeholders.”

TrashDisappears aims to unify this broken chain, starting from the waste generator, to the collector, to the recycler, and back again to manufacturers who use recycled products. The app will allow users to snap a photo of their waste, and through AI, classify it instantly.

When you use your phone and take a snapshot, the AI model tells you that this waste is in this category, either plastic, metal, or food waste,” Obiorah explained. “That way, it’s easier for you to know what waste you are sorting.”

Once uploaded, the system routes the request to available collectors, who can then find the most efficient route, optimised by AI to reduce cost, fuel consumption, and emissions.

The Power of Data in Dirty Work

In Nigeria, where many see waste management as a “low-tech” problem, convincing users and investors that data is actually important is no small task. But Obiorah insists it’s non-negotiable.

If we are truly saying that we want to manage waste, data is key, because there’s nothing you can do effectively without data,” he said.

He believes that by digitising waste flow, TrashDisappears could eventually help cities plan better. “You must have a start point,” he continued. “You want to get a cleaner environment? You must know where it’s at the moment and what you need to achieve by a certain point.”

To build reliable datasets, the team collects and verifies data continuously through its AI module and partner networks. “We know it might not be possible for us to get 100%, but at least we have like 90% on how true our data is,” he said.

This data-centric model, he adds, will be invaluable to municipalities and private operators alike, helping them design smarter waste management strategies, forecast collection patterns, and enforce compliance.

A Platform Built on Partnerships

The startup’s partnerships stretch across the ecosystem, formal and informal. “We are collaborating with the municipal waste authorities,” Obiorah explained. “We are also collaborating with the unconventional collectors, the informal ones. One of the things we’re trying to do is to formalise them, bring them into a more organised sector.”

He adds that recycling firms and households are also part of this network. “We’ve had discussions with all the stakeholders in the value chain, because that’s really where we can achieve our goal.”

While bureaucracy is a challenge, TrashDisappears has found creative ways to operate within and around government frameworks. “We’re already having that conversation with them, and at the moment, they are being receptive,” he said. “But we also know that the informal sector is hugely untapped. That area doesn’t require too much government intervention.”

Not Yet Launched, But Already Moving

Interestingly, TrashDisappears hasn’t launched yet, but its plans are well underway. “We have started sensitisation, and we have developed our prototype,” Obiorah revealed. “We’re currently fundraising and have been invited to pitch at the African Innovation Dance Season Two next month. Based on our plans, we hope to launch by February next year.”

The app’s business model is built to balance commercial sustainability with environmental impact. “Part of our revenue streams is through transaction commissions,” he explained. “We’ll also have a freemium model, corporate partnerships, in-app ads, and a gamification feature where people can play games related to waste.”

There’s even a “share sphere” feature for giving out unused materials, whether freely or for a fee. “Our app opens up different avenues for revenue,” he said.

Beyond Waste: Building City Intelligence

For Obiorah, the ultimate vision for TrashDisappears goes beyond waste disposal. “Yes,” he said, “we see TrashDisappears as a potential data infrastructure provider, not just a waste platform. We want to use data for predictive analysis, to advise both generators and municipalities. We’re not just managing waste, we’re reducing it, creating cleaner cities, and educating people.”

The team plans to launch in Lagos and Abuja first, with expansion plans across Africa. “We definitely will explore carbon credit opportunities and regional expansion,” he said. “Our idea is for TrashDisappears to be a global platform.”

But scaling such innovation in Nigeria demands systemic change. When asked what single government policy he would change to support innovations like his, Obiorah paused briefly before saying: “We need to look at proper enlightenment.”

He believes that without public education and consistent enforcement, even the best technologies will fall short.

At its core, TrashDisappears isn’t only focused on cleaning streets, it’s trying to clean systems. It’s betting that data can make Nigerian cities tidier and smarter.

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ABAN, Madica Ventures Partner to Anchor Africa’s Startup Funding in Local Hands https://techeconomy.ng/aban-madica-ventures-partnership-african-startup-funding/ https://techeconomy.ng/aban-madica-ventures-partnership-african-startup-funding/#respond Sat, 18 Oct 2025 12:51:46 +0000 https://techeconomy.ng/?p=169545 In a bid to enhance Africa’s homegrown investment ecosystem, the Africa Business Angel Network (ABAN) and Madica Ventures signed a Memorandum of Understanding (MoU) at the ABAN Congress 2025 in Lagos.

Focused on strengthening local capital participation across the continent, the partnership is designed to bridge long-standing gaps between early-stage startups and local investors, focusing on three critical areas, including pipeline sharing, market knowledge exchange, and ecosystem development. 

Together, both organisations aim to build a stronger foundation for sustainable startup growth driven by African investors and African capital.

Speaking at the signing ceremony, Yemi Keri, president of ABAN, said, “The future of Africa’s innovation economy depends on how effectively we can mobilise local capital and empower local investors. Our collaboration with Madica helps bridge the gap between angel investors and institutional capital, ensuring that more funding comes from within the continent, and that startups everywhere in Africa can access the right type of support to scale.”

Under the new MoU, ABAN and Madica Ventures will share access to curated, investment-ready startups, focusing on underserved regions that usually fall outside major investment hubs. 

Both parties will also facilitate direct learning between African angel investors and Madica’s global investment experts, a move expected to boost investor trust and improve deal quality across the board.

Emmanuel Adegboye, head of Madica, reinforced the partnership’s mission to go beyond funding:

Early-stage founders in Africa need more than just capital. They need a community of investors who understand their context and champion their growth. We have seen firsthand that remarkable founders exist in every corner of the continent, yet too many remain disconnected from the capital and networks they need to thrive. 

“Through this collaboration with ABAN, we are closing that gap, aligning angels and institutional investors to work in sync, expand early funding pathways, and ensure that high-potential startups, wherever they are in Africa, have a real shot at scale.”

The agreement, which will remain active for two years, sets a foundation for more collaborative initiatives aimed at aligning local wealth with Africa’s rapidly growing startup scene.

Fadilah Tchoumba, CEO of ABAN, noted, “This collaboration reinforces our belief that Africans must finance Africa’s growth. By working with Madica, we are amplifying local capital participation and creating new pathways for investors to engage more meaningfully with the continent’s most promising ventures.”

Beyond the signatures and formalities, the ABAN–Madica partnership goes beyond capital mobilisation, it focuses on ownership, influence, and redefining the flow of investment power back to the continent.

In merging ABAN’s extensive angel network with Madica’s venture-building expertise, both organisations are bolstering how Africa’s startup ecosystem can evolve, prioritising sustainability, inclusivity, and local empowerment over dependency on foreign capital.

Africa’s next wave of innovation will be financed by Africans themselves.

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Mantrac Nigeria Launches Digital Service Centre for Real-Time Remote Support Across West Africa https://techeconomy.ng/mantrac-nigeria-digital-service-centre-real-time-support-west-africa/ https://techeconomy.ng/mantrac-nigeria-digital-service-centre-real-time-support-west-africa/#respond Wed, 15 Oct 2025 17:43:56 +0000 https://techeconomy.ng/?p=169387 Having driven much of Nigeria’s construction and industrial growth, Mantrac Nigeria is now turning that same energy towards digital efficiency.

The sole authorised Cat dealer representative in Nigeria, has launched its Digital Service Centre in Lagos, a remote support hub built to keep equipment running with greater efficiency and less downtime, across Nigeria and West Africa. 

From the control room, Mantrac engineers can detect faults, run diagnostics, and resolve technical issues long before a breakdown occurs. This will ultimately improve customer service, speed up repairs, and reduce on-site intervention. 

The initiative aligns with Mantrac’s goal of enhancing after-sales service through technology and human expertise.

By combining Caterpillar’s world-class technology with local expertise, we’re ensuring customers get immediate, intelligent support — no matter where they are,” said Emad Adeeb, managing director of Mantrac Nigeria. “This is about empowering productivity and building stronger partnerships.”

The centre currently supports over 200 customer sites, cutting response time to as little as 20 to 50 minutes, depending on the issue. For Mantrac Nigeria, that’s beyond fixing machines faster, it’s about building trust in markets where equipment downtime can mean massive losses.

The centre functions as a command hub for remote diagnostics, performance tracking, and technical support for customers across mining, oil and gas, construction, and agriculture.

According to Nigel Lewis, chief operating officer of Mantrac Group, the development is a turning point for the company’s operations in Africa.

It is an example of how we are harnessing digital solutions to improve customer outcomes, enhance operational safety, and create a sustainable service model that will shape the future of our industry,” he said.

Interestingly, Mantrac Nigeria’s MD, Adeeb stressed that the operation remains fully human-driven, despite the global rush toward artificial intelligence.

We use well-advanced technology,” he clarified. “No AI, it’s all human intelligence and experience.”

Caterpillar is proud to support Mantrac on this innovative initiative,” added Stephane Latini, director of Distribution, Eastern Africa at Caterpillar Inc. “Digital service solutions are transforming how we support our customers globally, and this new centre ensures that Nigerian and West African businesses can maximise equipment performance, productivity, and uptime with the latest Caterpillar technology.”

The Digital Service Centre ensures longevity of Caterpillar equipment and provides live remote troubleshooting through video consultations, enabling real-time support and issue resolution. 

The service centre integrates Cat Product Link and VisionLink, systems that allow customers to track equipment health, analyse usage, and plan maintenance before breakdowns occur. It also supports remote software calibrations and condition-based maintenance, helping extend asset life and lower operational costs.

Mantrac has long been recognised for investing in technical education, a focus that continues to underpin its service excellence. Inside the company’s technical facility lies a machine lab complete with a hydraulic simulator and workshop space where trainees learn how to disassemble, assemble, and analyse Caterpillar components.

“We train both our engineers and our customers’ engineers,” one of Mantrac’s engineers said during a tour of the facility. “We increase their skills to make sure they do a better service and get good quality, good life from their equipment.”

Through Caterpillar University, engineers and customers can access hands-on and online training, from basic equipment awareness to advanced troubleshooting. 

The platform is open globally under the initiative Technician for the World, providing free courses and certification opportunities that improve employability and strengthen local technical capacity.

Despite the heavy emphasis on digitalisation, Mantrac believes people remain the foundation of reliable service. The company recruits fresh engineering graduates and trains them for 3 to 6 months, building a skilled workforce to replace the 20% manpower lost annually to migration and other factors.

There are lots of smart engineers in Nigeria,” Adeeb admitted. “But every year we lose about 20% of manpower. This is how we fill the gap, by training, retraining, and empowering.”

For customers, the new Digital Service Centre means faster problem-solving, less equipment downtime, and direct access to expert advice, all without the need to wait for a field visit. And for Mantrac, it shows a drive for technology to complement experience, but never replacing it.

Located in the heart of Ikeja, the service is toll-free for one year and old units can be upgraded to leverage the new technology.

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Customer Service Week: Bolt Celebrates the Unsung Heroes Who Keep Its Wheels Turning https://techeconomy.ng/bolt-customer-service-week-2025-celebration-nigeria/ https://techeconomy.ng/bolt-customer-service-week-2025-celebration-nigeria/#respond Tue, 07 Oct 2025 14:15:34 +0000 https://techeconomy.ng/?p=168854 Without drivers who brave the Lagos traffic and riders who put their trust in them daily, the so-called “ride-hailing revolution” would grind to a halt. This week, Bolt decided to pause and pay tribute to those very people, the men and women who keep its green logo in motion.

In the spirit of Customer Service Week, the mobility giant rolled out a series of activities and giveaways across Nigeria to appreciate its drivers and riders. Themed “Bolt Says Thanks” and “Our Daily Heroes,” the celebration is more about gratitude to those who make the platform function day after day.

For drivers, Bolt is dishing out commendable rewards. About 300 drivers across 10 cities are receiving ₦5,000 Chicken Republic meal vouchers, a small but heartfelt nod to their daily grind. 

In Lagos, 150 drivers will get something extra; a proper lunch at the Bolt Driver Engagement Centre on Thursday. The company promises a day of good food, laughter, and lucky dips, where the spin of a wheel could win a prize or two.

Riders, too, aren’t being left out. At Ikeja City Mall (ICM), Bolt is setting up an activation hub where customers can engage in games and walk away with prizes. For the digital crowd, the company is also hosting an Instagram Bingo game with a tempting reward; ₦1 million worth of ride credit for one lucky winner.

And that’s not all. Throughout the Customer Service Week, Bolt plans to hand out more surprises, including spa sessions, shopping vouchers, and even more meal vouchers, as tokens of appreciation for loyal users who have made Bolt their preferred choice in a fiercely competitive market.

Speaking on the initiative, Osi Oguah, General Manager, Bolt Nigeria, said: “At Bolt, we believe our drivers and riders are the real heroes who make what we do possible every single day. This week is about saying thank you to them for their dedication, loyalty, and the positive spirit they bring to our community. ‘Bolt Says Thanks’ is our way of celebrating their everyday efforts and showing that we truly appreciate them.”

For Bolt, the celebration is a statement of value, not just about giving gifts. In spotlighting the people behind the app, the company stresses a message usually lost in corporate noise: no algorithm can replace human effort.

As Customer Service Week unfolds, we see that while technology may boost the operations of Bolt, it’s the people behind the wheel and in the backseat who truly drive the brand forward.

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