Silverbacks partially exits from OmniRetail with a 5x return on its investment
An African-focused private investment firm, Silverbacks partially exits from OmniRetail with a 5x return on its initial investment. This comes one month after securing a 29x return from its Lemfi exit. The exit follows OmniRetail’s recent $20 million Series A raise, which saw participation from 64-year-old manufacturing titan, Flour Mills
How to Start a Recycling Business in Nigeria This Year
With 32 million tonnes of solid waste generated every year, including about 2.5 million tonnes of plastic, Nigeria has a huge raw material base for recycling. Currently, only roughly 30% of this waste is even collected. That means tons of paper, plastic, and metal are clogging landfills and waterways, while savvy entrepreneurs
Peter Browne on Using Tech, Faith, & Innovation to Empower Emerging Farmers
In a world where poverty, food insecurity, and inequality continue to shape the lives of millions, Peter Browne is using faith and tech to empower emerging agripreneurs in South Africa. A South African mathematician-turned-entrepreneur, Peter walked away from successful businesses to pursue a bold vision: using digital innovation to uplift
The Role of Women in Green Energy in Africa This Year
Green energy in Africa is growing rapidly, and women are playing a vital role as entrepreneurs, technicians, and leaders. As one industry leader notes, “Promoting the participation of women in the renewable energy sector is vital as the sector plays a bigger role in helping to provide access to energy for
Top 11 Tech Hubs in Africa This Year
Africa’s digital economy is booming. Tech funding in Africa reached over $2.2 billion in 2024, and major cities are emerging as innovation epicenters. Many hubs are driven by youthful populations, rising internet use, and mobile-first solutions. According to Dealroom’s 2025 Global Tech Ecosystem Index, Lagos (Nigeria) was the world’s fastest-growing tech ecosystem, producing five unicorns and expanding
Eid al-Adha Celebrations Amid Economic Hardships in West Africa
This year’s Eid al-Adha celebrations in West Africa are unfolding against a backdrop of soaring inflation and economic stress. Muslims in Nigeria, Ghana, Senegal, and neighboring countries have long marked this holy feast with ritual animal sacrifices, festive meals, and generous charity. But as inflation climbs and livelihoods falter, the joys of
Ayoola Ogunyomi on Bridging the Investment-Exit Gap in Africa’s Startup Ecosystem
Known for his curiosity and drive, Ayoola Ogunyomi has actively pivoted into emerging technologies, including cryptocurrency, blockchain, AI, data science, and design thinking. He is the co-founder and CEO of Umbrella, a platform designed to bridge the investment-exit gap in Africa’s startup ecosystem by connecting vetted startups, investors, and advisors
Starlink suspends service in South Africa pending compliance
Starlink suspends service in South Africa for users who accessed its broadband through international roaming plans. The move follows a clampdown by the Independent Communications Authority of South Africa (ICASA), which has intensified its enforcement against unauthorised use, ordering distributors like ICASAsePush to halt operations and warning users that accessing the
Kenya to scrap tax breaks on employee stock ownership plans in 2025 Finance Bill
Kenya to scrap tax breaks on employee stock ownership plans (ESOPs) for early-stage startups, a move that risks gutting one of the few incentives left to attract talent in a sector struggling to raise capital and make payroll. Under the Finance Bill 2025 proposal, the government wants to remove a provision allowing
100 Profitable Business Ideas in Antarctica to Start This Year
Antarctica, the world’s southernmost continent, is known primarily for its extreme climate, icy landscapes, and scientific research stations. However, in recent years, the continent has also begun presenting unique and emerging opportunities for innovative entrepreneurs. Although the environment is harsh and regulations are stringent, there is growing interest in starting
