Speaking at the inaugural AXA Mansard Sustainability Symposium held in Lagos, the company’s Chief Executive Officer, Kunle Ahmed, urged corporate leaders to shift their focus from “risk to resilience” by embedding environmental and social sustainability into their operations.

‎The call comes as Nigeria and other West African countries face worsening climate challenges. According to the United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA), heavy rains and flooding affected about 6.9 million people across West and Central Africa in 2024, with Nigeria accounting for approximately 1.3 million of those impacted.

Lagos alone now experiences annual flooding that disrupts lives and businesses.

“These statistics are not just numbers; they represent families, communities, and enterprises. They demonstrate that climate risk is a business risk,” Ahmed said.

‎Highlighting the company’s commitment to sustainability, Ahmed disclosed that AXA Mansard has assessed more than ₦14.5 billion worth of assets for climate risk exposure over the past three years.

Within the same period, the firm reduced petrol-related emissions by 46 %, electricity-related emissions by 34 %, diesel emissions by 12 %, and water consumption by 39 %. He added that employees have contributed more than 30,000 hours of volunteering, positively impacting over 10,000 lives.

“For us, sustainability is not a buzzword; it is the reason our business will continue to serve Nigerians,” he said.

‎The insurer is also driving innovation to shield communities from climate shocks. In collaboration with the Insurance Development Forum, UNDP, AXA Climate, and Swiss Re, AXA Mansard helped design a parametric flood insurance solution for Lagos State.

Using satellite-based flood triggers, the product enables rapid payouts and is projected to protect up to four million people, offering coverage of up to US$7.5 million during a catastrophic flood event.

“This initiative demonstrates how insurance can close the protection gap and strengthen community resilience,” Ahmed noted.

‎He further encouraged Nigerian businesses to view sustainability as a competitive advantage rather than an expense, citing the AXA Future Risks Report 2025, which ranks climate change among the top three global threats to enterprises.

“Adopting sustainable practices reduces operational risks, protects cash flows, opens new markets, and attracts investors. It’s not just the right thing to do; it’s smart business,” he affirmed.

‎Ahmed reiterated AXA Mansard’s commitment to working with its customers in advancing a low-carbon, inclusive economy.

“Nigeria has enormous potential to build a green economy. With your collaboration and our expertise, we can transform risk into resilience and create shared value for all,” he concluded.

On Friday, 16 May 2025, the company gathered stakeholders at the UNDP Innovation Centre, Lagos, to reflect on a journey that began in 2021 with a mission to break down financial limitations for Nigeria’s underserved small businesses. 

Today, the numbers do the talking; Trade Lenda has supported thousands of MSMEs’ operations in over 100 markets nationwide, and over $10 million committed toward expanding access to productive credit.

We were there to witness a company that isn’t simply surviving, Trade Lenda is growing, building, and leading a movement for inclusive finance.

From inception, Trade Lenda set out to disrupt the status quo. “Our mission was to democratise access to finance for the underserved Small and Medium Scale businesses across Nigeria, Africa, and emerging markets,” said Adeshina Adewumi, CEO and founder of Trade Lenda.

“We understood early on that inclusion must go beyond slogans.”

And the company has acted on that understanding. Trade Lenda has disbursed credit to a vast network of traders, women-led cooperatives, and rural entrepreneurs. Its technology has bridged gaps where traditional banks fall short. 

Trade Lenda’s partnerships, especially with development finance institutions and grassroots organisations, have enabled the company to deliver practical value to groups usually excluded from formal finance. 

In the last four years alone, the fintech company has empowered single mothers expanding their shops, farmers increasing their hectares under cultivation, and informal traders creating new jobs.

More than just a fintech, Trade Lenda is taking a policy-facing role. “We are evolving from just a financial access platform to becoming an activist for shared economic prosperity,” Adewumi said. 

Selected among 10 semi-finalists in the Milken-Motsepe Prize competition, 2024, the fintech company’s new vision involves lobbying for inclusive finance policies, enabling women’s economic empowerment through targeted capacity-building, and applying data-driven models to tackle poverty and food insecurity.

And Trade Lenda is not alone in this mission.

In a panel session, speakers from VFD Microfinance Bank, UNDP Nigeria, and other ecosystem players stressed the urgent need for institutional reform to support financial inclusion. 

According to Trade Lenda, over $10 million has already been committed over the next two years, targeting support for women entrepreneurs and small-scale traders. 

Trade Lenda now seeks to expand that fund to $20 million within the next three years. And in a strategic move, the company is working to become a full-fledged financial institution, deepening its role in a space it has helped redefine.

UNDP’s partnership with Trade Lenda has already provided climate and crop data to rural farmers to enhance resilience and boost yields.

“You can’t throw generic solutions at complex, local problems,” Lantana Elhassan, head of exploration at UNDP Nigeria, said. “You scale with partners who understand context.”

Inconsistent policies, climate impacts, cultural biases against women-led businesses—these were all named as threats to progress. But the resolve to address them was just as firm.

Trade Lenda’s track record goes beyond credit, the organisation is investing in financial literacy, building trust in underserved communities, and opening up access through tech tools designed for inclusion, not exclusion. Its model is a rebuttal to anyone who believes profitability and impact are mutually exclusive.

“As we cut our way forward to the next chapter,” Adewumi concluded, “our call today is not just for celebration, it is for alignment. Let’s finance the future of inclusion with intentional capital.”

Indeed, with a growing coalition of stakeholders, it looks like Trade Lenda’s next chapter could have even greater impact. Not just for the company, but for the thousands of entrepreneurs whose potential has long been overlooked.

This event was officiated by the Governor of Anambra State, Professor Charles Chukwuma Soludo, CFR and the United Nations Development Programme Resident Representative in Nigeria, Ms. Elsie G Attafuah.

This initiative aligns with Governor Charles Chukwuma Soludo’s visionary agenda of “Everything Technology, Technology Everywhere” and aims to empower youth, drive innovation, and foster economic growth across the state.

The Makerspace in Awka is designed to democratize access to entrepreneurship and technological innovation.

It will create pathways for improved livelihoods by providing young people with the resources, skills, and collaborative environments to bring their ideas to life.

The Anambra Innovation Makerplace, strategically located in Awka, will prioritize inclusivity, with special programs tailored for young women, persons with disabilities, individuals with low literacy skills, and youth in underserved areas.

Speaking during the launch of the Makerspace, Professor Chukwuma Charles Soludo, the executive governor of Anambra State stated that, This Makerspace will unlock new opportunities, drive economic growth, and empower local talent. Through collaborative partnerships such as the UNDP, we will pave the way for innovation. I believe that technology is the bridge to a prosperous future, and we are immensely delighted to embark on this journey with UNDP. Our long-term vision is to raise a powerful Anambra Digital Tribe who will drive economic transformation through innovation, position Anambra as Africa’s Silicon Valley and make a significant impact on the global stage.

The value of Anambra’s Makerspace’s in entrepreneurship development is multifaceted.

The Innovation Makerplace will provide young entrepreneurs with the tools and resources needed to turn ideas into tangible prototypes, facilitating the testing and refinement of products.

Breaking barriers to innovation, the space enables entrepreneurs to experiment and iterate without significant upfront costs.

Thus, entrepreneurs are equipped with the resources to ignite ideas, permitting prototyping, testing and refinement of products.

What’s more, the Makerspace is forward-looking and promotes technological know-how through offering trainings and workshops, enabling skill refinement and keeping entrepreneurs abreast with emerging technologies.

In her remarks, Ms. Elsie G. Attafuah, UNDP Resident Representative expressed that the groundbreaking ceremony was “A landmark for young entrepreneurs, artisans, and innovators of the state and region at large.”

Furthermore, she reflected on the significance of Nigeria’s youthful population, expressing that its talented youth are an invaluable asset and “The ability to create and innovate locally is not just a matter of choice; it is essential for economic resilience and growth.”

Ms. Attafuah acknowledged the support of the Anambra state government and private sector partners, dedicated to ensuring the Makerspace remains sustainable, accessible, and impactful.

She extended gratitude to the Mastercard Foundation for its support in the establishment of the Makerspaces. Redefining entrepreneurship, Ms. Attafuah stated that,

“The Makerspace puts young women, persons with disabilities, persons with low literacy skills and those living in non-urban areas at the forefront, for economic growth synonymous with social progress – leaving no one behind.”

The Makerspace is a launchpad for ideas that address real-state challenges extending to wider challenges of the nation.

As such this space will bridge the gap between education and employability, enhancing the quality of life for all who live in Anambra and Nigeria. Empowering communities and preserving Nigeria’s rich culture, the space blends art, technology, and local craftsmanship, igniting creative capabilities in the region.

The Special Adviser to Governor Soludo on Innovation and Business Incubation, Chinwe Okoli, expressed enthusiasm for the partnership:

“We are immensely delighted to have UNDP support Mr. Governor’s vision for the Solution Innovation District as we continue to build the Anambra Innovation Ecosystem. The Solution Innovation District is designed to attract opportunities like this from leading institutions, further cementing Anambra’s position as a hub for innovation and creativity.”

She highlighted the Makerspace’s cutting-edge features, stating, “The facility will be equipped for robotics, textiles, and electronics, with dedicated sections for design, prototyping, and advanced technological experimentation. It will also include collaborative zones for brainstorming, ideation, and project pitching. Importantly, the Makerspace will integrate designs that celebrate Anambra’s rich heritage while meeting global standards.”

The project stems from the UNDP-Anambra Stakeholders Meeting on Digital Transformation and Tech Development held in August 2024.

This strategic dialogue highlighted critical gaps in the state’s innovation ecosystem, particularly within tertiary institutions, and laid the foundation for this transformative partnership.

The Anambra State Innovation Makerplace will bridge these gaps by fostering collaboration among academia, industry, and government while serving as a launchpad for the commercialization of groundbreaking ideas.

The Innovation Makerplace will incorporate green building materials, energy-efficient systems, and sustainable waste management practices.

By involving local youth and artisans in its design, construction, and operations, the project not only nurtures local talent but also reinforces its commitment to environmental stewardship and community ownership.

The Makerspace is a highlight of the upcoming Anambra Innovation Week 2024, scheduled for November 25–29, 2024.

This event celebrates the state’s remarkable strides in technology and innovation under the theme “Creating the Future of Africa Now” serving as a premier platform to showcase and celebrate Africa’s dynamic innovation ecosystem.

The Makerspace aligns seamlessly with the vision to position Anambra as a regional leader in technology, entrepreneurship, and creativity. Local firms will lead the remodeling, repurposing, and furnishing of the facility, which is set to become fully operational within six months.

The UNDP has launched the timbuktoo Fintech Startup Accelerator Programme, a Pan-African initiative designed to support technology-driven startups in the financial services sector. 

The timbuktoo Fintech Startup Accelerator Programme aims to leverage innovations to address some of Africa’s most complex development challenges by facilitating scalable solutions with clear monetization strategies.

Based at the timbuktoo Fintech Hub in Lagos, Nigeria, the programme supports startups that:

• Deploy technology solutions in the financial services sector: These startups use digital tools and platforms to drive innovation and efficiency within the financial sector.
• Contribute to the achievement of sustainable development goals (SDGs): These startups’ solutions promote growth, industrialization, trade, education, health, and inclusive governance, aligning with one or more SDGs.
• Are highly scalable: Startups that demonstrate potential for rapid expansion across African markets through digital distribution channels.
• Hold a defensible position: These startups have a sustainable competitive advantage through Intellectual Property (IP) rights, network effects, domain expertise, or regional market dominance.
• Have a strong monetization strategy: Startups with a clear path to profitability and long-term financial viability.

Benefits

Participants in the programme will receive:

• Mentorship and Coaching: Guidance from leading industry experts and seasoned entrepreneurs across Africa.
• Equity-free Funding: Up to $25,000 to support the growth of the startups.
• Networking Opportunities: Access to a network of fellow startup founders and entrepreneurs from across the continent.
• Investor and Customer Connections: A platform to connect with potential investors and customers.
• Technical Resources: Access to resources tailored to accelerate the growth and impact of the startups.

Eligibility

The programme is open to technology-focused entrepreneurs and startup founders across Africa aged 18 to 35. Applicants must meet the following criteria:

• Citizens of an African country: Founders must be citizens of an African Union member state.
• Local Ownership: Startups must be locally owned and based in any African country.
• Technology in Financial Services: Startups must leverage technology to capitalize on development opportunities and solve challenges in the financial sector.
• Minimum Viable Product: Startups must have a working product.
• Corporate Governance: Startups must have existing systems for accountability, social, and environmental safeguards.

A 4-week build-a-thon will include pitching sessions with Africa’s leading investors, masterclasses with fintech experts, and fireside chats with industry executives. 

This bootcamp will support product development, go-to-market strategies, and market testing. It will be conducted in a hybrid format with a 2-week physical residency in Lagos, Nigeria from July 7th to 21st, 2024.

The most promising startups will receive long-term support for 5 months from August 2024 to December 2024. This phase includes tailored coaching, product refinement, and scaling support. 

Partnerships will be facilitated to spur product iterations, market access, and capital raising.

How to Apply

The application portal will be open till June 21st, 2024. Apply for the timbuktoo Fintech Startup Accelerator Programme and grab the opportunity to innovate, scale, and make a huge impact in the financial services sector.

The project, Techeconomy gathered, will culminate into a South-South and South-East Startup Landscape & State of Digital Jobs Report.

The Report seeks to propel the regional digital and innovation space, attract investors, talents and support by showcasing its current strength, gaps and opportunities.

It will provide a comprehensive mapping, documentation and spotlight of key activities, innovators and stakeholders who are leveraging technology to create opportunities and solve diverse economic/development challenges for and from the region.

Such key actors include startups, financiers, events, support organizations (including Hubs, Universities, Enterprise Support Organizations -ESOs, Government Institutions etc) across eleven States in the regions

The Digital Ecosystem in the South-South/South-East of Nigeria has grown over the last Ten years as home to great Institutions and vibrant Technology communities (such as Google Developer Group, Meta Circle and others). It’s also home to several innovative early stage Startups (and Founders) including  Xend Finance  (Google backed DeFi platform), Greenage Technology (Nigeria’s foremost Solar OEM) and HouseAfrica (Sytemap) to mention a few.

Despite the foregoing, very little is known about the Ecosystem from outside leading to fewer coverage and opportunities for its stakeholders.

#StartupSouth believes the Nigeria Innovation ecosystem is capable of more than it has achieved in recent years and is positioning South-South-East Nigeria to become the epicenter of future growth. This project represents a step in that direction.

The report will also help States (and Cities) in the region identify and deploy their unique strengths for development. The states covered in the report include Abia, Akwa Ibom, Anambra, Bayelsa, Cross River, Delta, Ebonyi, Edo, Enugu, Imo, and Rivers states.

The project which enjoys technical support from the United Nations Development Program (UNDP) Nigeria’s Innovation Center through the Accelerator Lab will publish its findings during a special #ScaleSouth Summit to be held in the second quarter of 2024.

“Through this collaborative effort, we aim to shine a spotlight on the immense potential of the South-South-East Startup ecosystem by identifying key stakeholders, mapping ecosystem activities, and highlighting opportunities and gaps. We seek to catalyze strategic interventions for sustainable development and job creation,” said Uche Aniche, convener of #StartupSouth

“At UNDP, we strongly believe that it is possible to catalyse inclusive growth in Nigeria and spark a development revolution through Regional Innovation. By providing technical support to this important work, we hope that the ecosystem gets re-energised to show-case its transformative impact and create opportunities for sustained collaboration and partnership with others,” said William Tsuma, chief innovation officer and head of UNDP Office in Lagos.

“Highlighting the depth of the digital economy and startup ecosystem holds immense potential for equitable, accelerated and sustainable job creation in the South-South and South-East region. This timely intervention by #StartupSouth is a huge step in the right direction as it will spotlight opportunities, inspire collaborations, and catalyze strategic investments in the ecosystem. SSEAN is happy to support this project” Engr. Olushola Aina, Board Member at South-South-East Angel Network (SSEAN).

The meeting’s discussions centered on how the UNDP, in keeping to the memorandum of understanding (MOU) signed with Anambra State Government, could support with the implementation of the state’s ICT Policy developed by the Agency.

Recall that at the Anambra ICT Stakeholders’ Engagement Workshop held earlier this month, stakeholders made contributions as well as gave their buy-in into the policy.

The meeting provided an opportunity to brainstorm on strategies that ensure educational services remain accessible to children living in Internally-Displaced Persons (IDP) camps in flood prone areas of the state.

The utilization of technology to address this issue was carefully considered, demonstrating the Governor’s commitment to the new order, through the activities of the Agency.

Chukwuemeka Fred Agbata, the MD/CEO, Anambra ICT Agency, said the meeting reflects the kind of strategic partnership the agency is seeking in its quest to realize its mandate.

On the issue of displaced children during the flood, Agbata, who was represented at the meeting by Jude Emesim, the Tech Partnership and Digital Investment Lead in the Agency, said, “We need to find a way to ensure that the children can continue to go to school even while the flood is happening.

“They should not be forced to sit at home while their mates are in school. Ndi Anambra need to come together and help, ensure uninterrupted education for the affected children.

This collaboration between Anambra State and the UNDP holds a huge promise for the state’s growth and development.

The Fourth Industrial Revolution (4IR) remains a priority for Africa. The continent may not yet have the infrastructure, connectivity and technology that defines 4IR innovation and growth in other countries around the globe, but there is significant investment into Africa and its potential.

From financial institutions to organisations to the public sector, 4IR remains a priority for those that have the foresight to see how a commitment to Africa will pay dividends in the future. 

The Council for Scientific and Industrial Research (CSIR) in South Africa was developed for the sole purpose of driving 4IR within the country, and to allow for the growth and development of technologies and digital innovations that will empower organisations.

The goal of the CSIR is to enhance the foundations of technology so that 4IR can evolve smoothly and sustainably.

The CSIR also has a presence in Kenya and Ghana with similar objectives in mind – bolster each country’s confidence around 4IR and continue to build the connective tissue required to maintain momentum. 

The World Economic Forum (WEF) underscores the importance of such organisations and the need for ‘collective action in institutionalising 4IR technologies’ at a time when technology needs to follow the pathway of social good, not just innovation.

It is a sentiment echoed in a recent discussion around the start of human clinical trials for artificial intelligence (AI) brain implants – the Neuralink chip is set to enter the human brain and the most significant question raised is how this needs to be balanced with societal impact and technology for good.

This is the stance that dominates how the WEF believes 4IR should be managed across Africa as it will allow for richer collaboration and socioeconomic growth.  

However, the WEF emphasises the need for improved governance and regulation by the government to ensure that the risks that come with 4IR – security, and inequality – are managed effectively.

A sentiment shared by PriceWaterhouse Coopers (PWC) who believe that while there is potential within 4IR there is an equal need for concern. Technologies have to be harnessed and focused in the right ways to ensure that they do what they promise – revolutionise the world and transform lives – not eat into resources and create greater divides between the haves and the have-nots.  

The research firm is also paying attention to how 4IR can drive the Sustainable Development Goals (SDGs). In collaboration with the WEF, PWC believes that 4IR can be steered in the right direction to help overcome systemic challenges across Africa and resolve many of the complexities that inhibit development and growth.

This, says the firm, needs connectivity. It is connectivity that forms the backbone of 4IR, citizen service delivery, and the development of richer services and capabilities across agriculture, medicine, and education.

As the report emphasises – more than 80% of technology applications recognised as key to achieving the SDGs require internet access.  

Which is precisely what the UNDP believes to be key in driving the 4IR bus across the long stretches of Africa. In its recent playbook, the organisation emphasises the need for inclusive transformation, and the use of technology to remove the stain of the growing digital divide.

The playbook is designed to provide companies and governments with insights that allow for them to build a 4IR strategy that’s reliant on relevant technology and resilient to change and disruption. 

What all this means for the organisations that are growing their digital foundations in the region is that there is a cohesive drive towards the development of 4IR in Africa.

A drive that’s paying attention to more than just ROI and the bottom line. Rather, it is a shared vision across organisations and institutions to fully realise the potential of 4IR on a continent that could shine on the global stage with the right investment and support. To ensure this becomes a reality, companies need to collaborate and invest in technologies that will empower their evolution into 4IR.  

The selected Agritechs received varying amounts of funding to help them scale their businesses and develop innovative solutions that address challenges in the agriculture sector.

The funding ranges from N600,000 to N2.4m. The startups will also receive access to business support services, incubation, and networking opportunities.

Achesa, a startup raising the income of smallholder farmers through optimised yields, improved productivity and market access, emerged tops during the challenge and won the grand prize of N2.4 million. In addition to the N2.4 million, Achesa and 10 runner-ups will receive incubation support from Hub One, the tech startup accelerator of FCMB, for three months and access to workspace, market and networks to aid business growth.

Cardinal Torch and eSusFarm were second and third runners-up. They got N1.9 million and N1.5 million, respectively, from the Bank, while Farmsquare and Bionet also received N600,000 each from FCMB.

Twenty-two other winners were given N600,000 each by the United Nations Development Programme in Nigeria and the Centre for Food and Research.

Congratulating the winners, Mrs Yemisi Edun, Managing Director of FCMB, said: “As an institution fostering inclusive and sustainable growth in local communities across the country, we prioritise agriculture and are committed to supporting Agritechs to build innovative solutions that will address the challenges in the sector and drive economic growth. We will continue to work with other stakeholders to improve agriculture and create a future of shared prosperity for Nigerians. We congratulate all the winners and look forward to working with them in their next growth phase.”

Organised by FCMB, the UNDP and CEFTER, the Agrohack challenge crowdsources solutions to the challenges faced across Nigeria’s Agricultural value chain and bridges the funding gap. Over 1000 Agritech startups, agribusiness entrepreneurs, engineers, innovators, and tech solution enthusiasts across Nigeria applied for the competition, with 50 selected to participate in the pre-incubation boot camp and Demo Day.

A member of the FCMB Group Plc, First City Monument Bank is a purpose-beyond-profit corporation. The Bank is committed to fostering inclusive and sustainable growth in the communities it serves.

The Bank does this by building a supportive ecosystem rooted in Africa that connects people, capital, and markets.