Innovation Village Newsletter
Posts
💵 AfDB Invests $100M in New Infrastructure Fund

💵 AfDB Invests $100M in New Infrastructure Fund

Plus: 📲 Tim Cook to Step down at Apple

Innovation Village
November 17, 2025

In partnership with

‘

TGIF☀️

If there’s one thing the tech world loves, it’s a plot twist and this week just handed us a big one. Tim Cook, the steady, unshakeable captain of Apple’s ship for over a decade, may be preparing to hand over the wheel next year. It’s wild to even imagine a post-Cook Apple, especially for a generation that has only ever known the company through his calm precision and quiet dominance.

That’s the real takeaway today: even the biggest giants eventually face the moment where a familiar voice steps back and a new one steps in. Leadership changes don’t just shift a company — they shift an entire industry’s rhythm. So, as we slide into the day’s stories, it’s hard not to think about how quickly eras begin, evolve, and quietly wrap up when no one’s looking.

Let’s dive in.👇

Today’s Menu ☕️

💵AfDB Pumps $100M Into Infrastructure Fund to Power Africa & Asia
💰IFC Backs Justrite With $15M to Supercharge Its Nationwide Expansion
🛒 Jumia’s Q3 Boom: Nigeria Powers a Big Comeback
🏦Revolut Makes Its First Big Move to Become a South African Bank
🤖FG Launches AI WhatsApp Chatbot to Help Young Nigerians Find Jobs & Mentors
📡Amazon’s Kuiper Becomes Leo as Satellite Rivalry Heats Up

💵FUNDING

AfDB Pumps $100M Into Infrastructure Fund to Power Africa & Asia

The African Development Bank (AfDB) has just approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF) — a major boost for infrastructure development across fast-growing markets.

This funding is part of EAAIF’s big plan to raise $300 million in long-term debt this year and ultimately deploy over $850 million into projects across Africa and Asia by 2027.

Where’s all this money going? Straight into sectors that make economies run smoother and stronger:

Renewable energy and power projects
Transport and logistics networks
Digital connectivity
Climate-resilient infrastructure

This marks the fourth time AfDB is backing EAAIF, showing how strong and strategic the partnership has become. The goal is simple:
unlock more capital, attract private investors, and build the infrastructure that drives jobs, growth, and climate resilience across emerging markets.........…continue reading

Become the go-to AI expert in 30 days

AI keeps coming up at work, but you still don't get it?

That's exactly why 1M+ professionals working at Google, Meta, and OpenAI read Superhuman AI daily.

Here's what you get:

Daily AI news that matters for your career - Filtered from 1000s of sources so you know what affects your industry.
Step-by-step tutorials you can use immediately - Real prompts and workflows that solve actual business problems.
New AI tools tested and reviewed - We try everything to deliver tools that drive real results.
All in just 3 minutes a day

Join 1M+ pros

💰INVESTMENTS

IFC Backs Justrite With $15M to Supercharge Its Nationwide Expansion

The International Finance Corporation (IFC) is looking to lend $15 million (in naira) to Justrite, one of Nigeria’s most popular homegrown supermarket chains — and the goal is simple: help the retailer open 25 new stores across the country.

Justrite, founded in 2000 by the Aderinwale family, has become a go-to shopping destination for millions of Nigerians, especially in fast-growing urban areas. Its expansion comes at a time when demand for modern, convenient retail is rising across the country.

A big confidence boost came in 2022, when Africinvest bought a 40.4% stake in the company. That investment strengthened Justrite’s structure and signaled that serious players believe in its growth story….continue reading

🛒E-COMMERCE

Jumia’s Q3 Boom: Nigeria Powers a Big Comeback

The e-commerce giant pulled in $45.6 million in revenue (up 25% from last year) and grew GMV by 21% to $197.2 million. Even better, physical goods (Jumia’s renewed focus) surged 26% when South Africa and Tunisia are excluded.

The company is also finally tightening up operations. Losses are shrinking — operating loss dropped to $17.4 million, and adjusted EBITDA improved 17%. Cash outflow is half what it used to be. Slow progress, but real progress.

But the real star? Nigeria.
Physical goods orders jumped 30%, and GMV soared 43% — easily one of Jumia’s strongest performances anywhere. More customers, better delivery, more products, and increasing trust are driving the boom.............…continue reading

🏦BANKING

Revolut Makes Its First Big Move to Become a South African Bank

Revolut — the global fintech giant everyone knows for its sleek app and low-stress banking — has officially taken its first regulatory step to becoming a licensed bank in South Africa. They’ve submitted what’s called a Section 12 application to the Prudential Authority, which basically signals: “Yes, we’re serious about banking here.”

Revolut has appointed Dr Gaby Magomola — former African Bank CEO and a heavyweight in the finance world — as Chairman of Revolut South Africa. The man has held top roles at Citibank, Barclays, FNB, and even the Development Bank of Southern Africa. In short: Revolut didn’t just hire talent; they hired credibility.

This move is part of Revolut’s bigger plan to expand across Africa. The company first teased this expansion back in September during the launch of its new global HQ in London..…..…continue reading

🤖ARTIFICIAL INTELLIGENCE

FG Launches AI WhatsApp Chatbot to Help Young Nigerians Find Jobs & Mentors

Nigeria’s Federal Government just rolled out a new AI-powered WhatsApp chatbot designed to help young people find jobs, mentors, business resources, and credible information — all from the app they already use every day.

It’s called the Youth Help Desk WhatsApp AI Chatbot, and it’s part of the government’s push to use technology to tackle the country’s massive youth unemployment problem. The initiative is led by the Ministry of Youth Development in partnership with the Presidency’s digital innovation office.

The idea is simple:
Instead of young Nigerians searching endlessly online or relying on unverified job posts, the chatbot brings verified opportunities, real-time support, and professional mentorship straight to WhatsApp............…..…continue reading

📡SATELLITE

Amazon’s Kuiper Becomes Leo as Satellite Rivalry Heats Up

Amazon has officially renamed its satellite internet project Project Kuiper to Amazon Leo, and the new name says it all — the focus is now squarely on low-Earth orbit (LEO) satellites. According to CEO Rajeev Badyal, the old name was just a code name inspired by the Kuiper Belt. Now that the project is moving into full-scale deployment, Amazon wants the branding to match the tech powering it.

And yes, this rebrand is happening right as Amazon is gearing up to take on Starlink head-to-head.

Amazon Leo has partnered with U.S. radio equipment company Vanu to roll out cell towers across remote parts of Southern Africa. These towers will use Amazon’s LEO satellites to bring coverage to places traditional networks can’t reach — a big push to win early ground on the continent.

Starlink, meanwhile, is struggling to enter South Africa due to regulatory issues. The company is refusing to give up 30% equity to local groups and is lobbying for an alternative investment model instead. Until the rule changes, they’re stuck waiting............…..…continue reading