MSMEs are crucial for economic growth globally, including in Nigeria. And for a long time in Africa’s largest economy, they have served as the lifeblood fuelling economic growth and development by creating jobs, reducing poverty, and generating wealth. The International Labour Organisation (ILO) says that MSMEs account for 96 per cent of businesses, 84 per …
Author Archives: agbetiloye
My Pivot Journal: Adeoni’s journey to rekindling her childhood passion for drawing.
My Pivot Journal is a Ventures Africa weekly series documenting people’s career transitions from one industry to another, especially to tech. Funmbi Adeoni is a talented artist who has carried a deep passion for art since her childhood years. Although she never took her artistic aspirations seriously, the transformative events of the COVID-19 pandemic propelled her to …
Takeaways from Nigeria’s Q1 2023 GDP report
So far this year, Nigeria’s economy has encountered a multitude of challenges, ranging from a cash crunch at the beginning of the year to persistent high-interest rates and sky-bound inflation rates. These obstacles have had significant repercussions on the country’s economic performance, including its GDP. According to the latest report by the National Bureau of Statistics, …
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Kenya’s ambitious plan to manufacture smartphones
Traditionally, food, clothing, air, and shelter are recognized as the fundamental necessities of life. However, with the overwhelming advancement in technology that we are experiencing, we might consider adding mobile phones to the list. While it may not sustain life itself, it has undeniably become an indispensable tool with which we navigate our everyday lives. …
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Weekly Economic Index: Ghana’s $3 billion loan, Nigeria’s hydropower project, and more layoffs
IMF approves a $3 billion loan for Ghana On Wednesday, the International Monetary Fund (IMF) announced that it has approved a three-year extended credit facility of $3 billion for Ghana. This approval allows for an immediate disbursement of approximately $600 million. The approved loan is intended to provide economic recovery and stability to Ghana amidst …
SLK’s Teetotaler: Laughing all the way to Netflix
“Laughter is the best medicine,” they say, and it was with great anticipation that I entered the bustling film house cinema in Twin Waters Lagos to watch the premiere of Teetotaler, a comedy special just acquired by the global streaming giant Netflix. As the crowd settled into their seats, eagerly awaiting the arrival of the …
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The Africa’s Business Heroes Prize effect: Gricd’s expansion story.
With a fast-growing population, Africa is witnessing a remarkable rise in entrepreneurial ventures. From small-scale startups to established enterprises, businesses of all sizes have the burning desire to meet the evolving demands of the population, which seeks innovative solutions, products, and services. However, this dynamic and rapidly evolving business landscape is plagued with several challenges, …
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Food systems innovations to lower methane emissions in livestock, waste, and rice cultivation.
Agriculture has been a fundamental aspect of human civilization since ancient times, playing a critical role in providing food and other essential resources necessary for human survival. The sector has been a driver of economic growth, food security and employment for many people, particularly in developing countries, where a significant portion of the population relies …
My Pivot Journal: Success Bello’s Journey to becoming a digital marketer.
My Pivot Journal is a Ventures Africa weekly series documenting people’s career transitions from one industry to another, especially to tech. As a first-class graduate of Industrial Chemistry, Success Egbekhuwa Bello had a promising future in science. However, her brief experience as a quality control analyst was not fulfilling. During her free time, she discovered her passion …
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Why is Starlink not in South Africa?
The arrival of Starlink in Africa has been widely welcomed as a potential game-changer for internet connectivity. Many parts of the continent, still lack internet infrastructure and reliable internet connectivity. So the introduction of satellite internet is considered a valuable tool in reducing the digital divide and reaching regions beyond the range of fibre optics. …