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💼 Mayor of London Leads Tech Partnership Between London and Lagos

💼 Mayor of London Leads Tech Partnership Between London and Lagos

Plus: 📈 GTCO Becomes First Nigerian Bank to Cross N100 Mark

Innovation Village
July 17, 2025

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Today’s Menu ☕️

💼 Mayor of London Sadiq Khan Leads Tech Partnership Between London and Lagos
📈 GTCO Becomes First Nigerian Bank to Cross N100 Mark, Bolstered by London Listing and Record Profits
🧊 Kenyan startups Roam and Keep It Cool launch Africa’s first fully electric cold-chain delivery network
🛒 Temidayo Ojo Named CEO of Jumia Nigeria in Strategic Leadership Shift
🚙 Chery Group to launch iCAUR, a new EV brand, in South Africa by early 2026

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💼 TECHNOLOGY

Mayor of London Sadiq Khan Leads Tech Partnership Between London and Lagos

London’s Mayor, Sadiq Khan, is in Nigeria as part of a five-day trade mission, bringing together the UK and African business and cultural communities. As part of his visit, he launched a landmark partnership between London and Lagos—two of the world’s most dynamic innovation hubs. The highlight was the Bridging Borders: How London and Lagos Can Shape the Future of Global Tech summit, held at the John Randle Centre for Yoruba Culture and History and organised by London & Partners.

Khan described London as Europe’s tech capital and Lagos as Africa’s, highlighting their shared ability to produce unicorns and drive digital growth. Over two dozen UK-based tech and sustainability companies joined the mission, exploring opportunities in Nigeria’s mobile-first ecosystem.

Key discussions focused on easing cross-border banking restrictions for African startups, harmonising digital standards, and leveraging diaspora connections. Speakers like Iyinoluwa Aboyeji and Dr. Juliet Ehimuan highlighted the importance of ethical AI, infrastructure, and scalable solutions.

Lagos Commissioner Olatunbosun Alake described the initiative as “a bridge stronger than broadband,” while Deputy Mayor Howard Dawber called it “the beginning of a new chapter.”

With fintech, infrastructure, and talent leading the way—and follow-up visits and investments expected—this UK-Nigeria tech alliance is poised to transform innovation across continents...…...…continue reading

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📈 STOCK MARKET

GTCO Becomes First Nigerian Bank to Cross N100 Mark, Bolstered by London Listing and Record Profits

Guaranty Trust Holding Company Plc (GTCO) has made history as the first banking stock on the Nigerian Exchange (NGX) to surpass the N100 price mark, trading between N102 and N103 on July 16, 2025. This milestone reflects strong investor confidence, backed by over 27% month-to-date stock gains and GTCO’s robust financials.

Key drivers include GTCO’s record ₦1.017 trillion profit in 2024 and ₦300.4 billion pre-tax profit in Q1 2025, fueled by over 41% growth in both interest and fee income. Its July dual listing—2.29 billion shares on the London Stock Exchange and 2.28 billion on the NGX—boosted its market capitalization past ₦3 trillion and aims to raise $100 million for recapitalising GTBank Nigeria, in line with the CBN’s ₦500 billion capital requirement.

CEO Segun Agbaje described the move as pivotal, citing goals of a 25% ROE and 15% dividend yield. As Nigeria’s banking sector rallies, GTCO’s innovation, transparency, and global strategy cement its leadership in African finance........…continue reading

🧊 LOGISTICS

Kenyan startups Roam and Keep It Cool launch Africa’s first fully electric cold-chain delivery network

Two Kenyan startups, Roam and Keep It Cool, have launched Africa’s first fully electric cold-chain delivery network, revolutionizing sustainable logistics. This partnership merges Roam’s electric mobility expertise with Keep It Cool’s solar-powered refrigeration and cold-chain platform, Markiti, to transform food distribution across Kenya.

The initiative begins with five Roam Air electric motorcycles integrated into Keep It Cool’s fleet, which already transports over 250,000 kilograms of fresh produce weekly to more than 4,000 businesses. The Roam Air bikes, with a 240 kg payload, reduce operational costs by up to 75% compared to fuel-powered alternatives—ideal for last-mile urban delivery.

Roam’s Elijah Gakomo highlights the project's environmental and economic impact, while Keep It Cool’s Abigail Gichigi notes their cold storage tech is already saving 400 tonnes of fish annually from spoilage. The partnership demonstrates how local innovation can address global challenges, from food security to climate change, by building cleaner, scalable logistics solutions for Africa’s future........…continue reading

🛒 ECOMMERCE

Temidayo Ojo Named CEO of Jumia Nigeria in Strategic Leadership Shift

Jumia Nigeria has appointed Temidayo Ojo as its new Chief Executive Officer, marking a significant leadership shift in its largest market. Ojo succeeds Sunil Natraj, who guided the company through economic challenges and helped restore growth. A seasoned insider, Ojo joined Jumia in 2020 and previously led Jumia Ghana to record growth as CEO. His promotion reflects Jumia’s strategy to elevate local talent and deepen regional expertise.

Ojo holds an MBA from IESE Business School and an engineering degree from the University of Lagos. He described the appointment as personal, citing his deep understanding of Nigeria’s market and commitment to its digital future.

Group CEO Francis Dufay praised Ojo’s vision, energy, and customer-centric approach, calling him the ideal choice to lead Jumia Nigeria into its next chapter. Dufay also commended Natraj’s pivotal role in stabilizing the business.

As part of a broader leadership reshuffle, Seleem Musibau becomes CEO of Jumia Ghana. Jumia reaffirmed its commitment to nurturing African leadership and accelerating sustainable growth.......…continue reading

🚙 ELECTRIC VEHICLES

Chery Group to launch iCAUR, a new EV brand, in South Africa by early 2026

Chinese automaker Chery Group is set to launch its new energy vehicle (NEV) brand, iCAUR, in South Africa by the first quarter of 2026, marking a major step in its African electrification strategy. Founded in 2023, iCAUR focuses exclusively on electric and hybrid SUVs and has already debuted in China, India, and Malaysia.

The South African lineup will include a mix of electric and hybrid SUVs tailored to local drivers, with 15 dealerships planned in major cities to support sales and service. iCAUR aims to combine advanced EV technology with bold design and a user-centric approach, offering South Africans a more personal and joyful electric driving experience.

National Brand and Marketing Manager Shannon Gahagan emphasized iCAUR’s mission to connect with South Africa’s vibrant, eco-conscious communities. Beyond vehicles, the brand will also roll out lifestyle partnerships and community initiatives, positioning itself as more than just a carmaker—but a modern mobility lifestyle brand..........…continue reading