💰 Aruwa Capital Raises 90% of $40m Target for Second Fund,

Today’s Menu ☕️

💰 Aruwa Capital Raises 90% of $40m Target for Second Fund, Eyes Upsize Amid Investor Confidence
💰 Zeepay Secures $18 Million Debt Funding to Power Mobile Money Expansion Across Africa
💰 IFC and TLG Capital Secure $75m First Close for African SME Private Credit Fund
🧑🏽‍💻 Why WAEC and NECO Switching to CBT Exams Is Long Overdue
🤖 Meta Unveils Standalone AI App Powered by Llama 4 to compete with ChatGPT

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💰 FUNDING

Aruwa Capital Raises 90% of $40m Target for Second Fund, Eyes Upsize Amid Investor Confidence

Aruwa Capital Management, a female-founded and led investment firm based in Lagos, has announced it has raised 90% of its $40 million target for its second fund—Aruwa Capital Fund II—as investor appetite grows for gender-lens and impact-focused investing in Africa. The early-stage growth equity fund manager is doubling down on its strategy to back transformative, high-growth businesses in Nigeria and Ghana, particularly in essential sectors like healthcare, energy access, financial services, food, and agribusiness.

This milestone already surpasses the $20 million final close of Aruwa’s first fund in 2022. Encouraged by strong investor demand, Aruwa Capital now plans to increase the target for Fund II to $50 million, with a hard cap of $60 million, within the year..…… continue reading

💰 FUNDING

Zeepay Secures $18 Million Debt Funding to Power Mobile Money Expansion Across Africa

Ghanaian fintech firm Zeepay has secured $18 million in senior secured debt funding to strengthen its working capital and accelerate its expansion across Africa’s booming mobile money and cross-border payment markets. The financing, arranged by South Africa-based advisory firm Verdant IMAP, reflects rising investor confidence in Zeepay’s role as a critical bridge between global remittance networks and local mobile wallets.

The new funding will provide crucial float financing support, ensuring Zeepay can manage liquidity demands associated with real-time mobile money transactions and international remittances. As mobile money adoption continues to surge across the continent—often outpacing traditional banking—Zeepay’s services remain vital for millions who rely on fast, affordable digital financial solutions..……… continue reading

💰 FUNDING

IFC and TLG Capital Secure $75m First Close for African SME Private Credit Fund

The International Finance Corporation (IFC) and TLG Capital have raised $75 million in the first close of the TLG Africa Growth Impact Fund II (AGIF II), delivering a major boost to small and medium-sized enterprises (SMEs) across Africa and helping to protect jobs on the continent.

Anchored by IFC’s Distressed Asset Recovery Program (DARP) with a commitment of up to $20 million, the fund also enjoys strong backing from Swedfund, Norfund, Bpifrance, and the UK Foreign, Commonwealth & Development Office (FCDO) through its Manufacturing Africa program. The newly launched AGIF II fund is designed to offer a financial lifeline to up to 20 African SMEs facing challenges with existing loan options.

The financing will be delivered in partnership with African banks, ensuring SMEs can access the local capital they need to overcome macroeconomic shocks, operational hurdles, or industry-specific headwinds. AGIF II will support businesses operating in critical sectors including manufacturing, healthcare, agriculture, and telecoms — areas considered vital to economic resilience and inclusive growth..……… continue reading

🤖 ARTIFICIAL INTELLIGENCE

Meta Unveils Standalone AI App Powered by Llama 4 to compete with ChatGPT

Meta has launched its own standalone AI app, powered by the new Llama 4 model — and it’s a big move toward creating a more personal, smarter AI experience for everyone. Announced at Meta’s LlamaCon event, this new app brings Meta AI out of the shadows of WhatsApp, Instagram, Facebook, and Messenger — where it has quietly gained traction — and into its own dedicated platform designed to rival AI tools like ChatGPT.

Unlike other general-purpose AI assistants, Meta’s new offering stands out by using its deep well of user data to provide personalized interactions. Drawing from years of user activity across Meta’s platforms — including your profile, preferences, and friend networks — Meta AI promises more relevant, engaging, and helpful responses tailored specifically to each individual. Currently, this personalized feature set is available in the U.S. and Canada......…continue reading

🧑🏽‍💻 EDUCATION

Why WAEC and NECO Switching to CBT Exams Is Long Overdue

It’s official — WAEC and NECO are going digital. According to Nigeria’s Minister of Education, Dr. Tunji Alausa, Computer-Based Testing (CBT) will become the new normal for the country’s major secondary school exams starting in 2026. Objective papers will begin CBT rollout as early as November 2025, with full essay and multiple-choice CBT adoption expected by May/June 2026.

For some, this sounds ambitious. But this is long overdue for anyone who’s watched Nigerian education struggle under the weight of exam malpractice, logistics chaos, and outdated testing models.

Let’s not forget — JAMB made this move years ago. In 2025 alone, it’s running UTME exams for over 2 million candidates in 800+ centres nationwide. Despite glitches and occasional disruptions, CBT has proven to be faster, more secure, easier to manage, and far more scalable. So the question isn’t whether WAEC and NECO can do it. The question is: Why didn’t they do it sooner?..……continue reading

OTHER STORIES

• Glovo and Salad Africa Launch SME Loans of up to ₦100 Million for Nigerian Businesses.……continue reading

• UNHCR, the UN Refugee Agency, has announced an expanded three-year global partnership with TECNO, the innovative technology brand, to tackle education gaps among refugee children and youth across Africa…….continue reading

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