♻️ Mohinani Group to launch PET recycling plants with $37m IFC loan

Today’s Menu ☕️

🧑🏽‍💻 Lagos State Ends Remote Work Policy for Civil Servants Amid New Minimum Wage Rollout
💰 Egyptian Startup Qme Secures $3M to Revolutionize Queuing Systems in MENA
🤖 Nigerian entrepreneur Dozy Mmobuosi launches AI platform for agriculture amid legal challenges
📱 Airtel Nigeria increases internet and voice plan prices by 50% following MTN’s price hike
📱Mohinani Group to launch PET recycling plants in Nigeria and Ghana with a $37M IFC loan

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🧑🏽‍💻 REMOTE WORK

Lagos State Ends Remote Work Policy for Civil Servants Amid New Minimum Wage Rollout

The Lagos State Government has announced that its work-from-home initiative for public servants will officially end on March 31, 2025. This decision, declared by Head of Service Mr. Bode Agoro in a recent NAN statement, aligns with the government’s rollout of an N85,000 minimum wage for civil servants—a measure aimed at boosting worker welfare and enhancing service delivery across all government departments.

Originally introduced in February 2024 as a response to the economic pressures brought on by the federal government’s removal of the petrol subsidy, the remote work policy was designed to help civil servants reduce their commuting costs and alleviate financial burdens. Under the policy, staff on Grade Levels 1 to 14 were permitted to work from home two days a week, while those on Grade Levels 15 to 17 were allowed one remote workday per week. This arrangement was widely seen as a necessary stopgap during a challenging period, providing some relief in an otherwise strained economic climate.

However, with the implementation of the new minimum wage, state officials now believe that a return to traditional office work will foster greater accountability, efficiency, and improved service delivery within Ministries, Departments, and Agencies (MDAs).........…continue reading

💰FUNDING

Egyptian Startup Qme Secures $3M to Revolutionize Queuing Systems in MENA

Egyptian B2B SaaS startup Qme has just raised $3 million in a seed funding round led by AHOY—a multisector technology company from the GCC—marking a significant milestone in the region’s digital transformation. As a forward-thinking, AI-driven platform, Qme is on a mission to tackle one of MENA’s persistent problems: inefficient queuing systems and outdated appointment booking methods that cost people precious time.

Since its commercial launch in Q4 2023, Qme has already served over 100,000 customers across healthcare, banking, and government sectors. The impact has been nothing short of transformative: average waiting times have plummeted from 116 minutes to just 14 minutes. Furthermore, the platform has slashed phone booking no-show rates to below 1% and replaced cumbersome paper-based systems, saving an estimated 50,000 square meters of paper in the process......…continue reading

🤖 STARTUPS

Nigerian entrepreneur Dozy Mmobuosi launches AI platform for agriculture amid legal challenges

Nigerian entrepreneur Dozy Mmobuosi is set to launch an innovative AI platform aimed at enhancing farming practices across Africa. This initiative comes in the wake of significant challenges faced by Mmobuosi and his previous ventures, particularly following a report by activist short-seller Hindenburg Research in 2023, which revealed substantial irregularities at Tingo Group. The report led to a dramatic decline in the company’s stock price and triggered an investigation by the U.S. Securities and Exchange Commission (SEC).

Despite the serious allegations against him, which include a $250 million fine and a ban from serving as a public company director due to purported fraudulent activities, Mmobuosi is determined to revitalize his business endeavors amid ongoing scrutiny. In December 2023, the SEC formally charged Mmobuosi and his companies—Tingo Group, Agri-Fintech Holdings, and Tingo International Holdings—with inflating financial metrics to mislead investors.......…continue reading

📱TELECOMS

Airtel Nigeria increases internet and voice plan prices by 50% following MTN’s price hike

Airtel Nigeria, the second-largest telecommunications operator in the country, has announced a significant increase in the prices of its internet and voice plans, raising them by 50%. This decision comes just one week after a similar price hike was implemented by MTN Nigeria.

Under the new pricing structure, Airtel’s most affordable monthly data plan now offers 2GB for ₦1,500, replacing the previous 1.2GB plan that was priced at ₦1,000. Other notable changes include the following:

• A 3GB plan is now available for ₦2,000, up from the previous 1.5GB plan priced at ₦1,200.

• The 4GB plan has increased to ₦2,500, which was previously 3GB for ₦1,500.

• An 8GB plan now costs ₦3,000, a rise from the former 4.5GB plan that was priced at ₦2,000.

Larger data plans have also seen adjustments in their pricing. The 10GB plan is now priced at ₦4,000, up from the previous 6GB plan that cost ₦2,500. Additionally, the 13GB plan is now available for ₦5,000, an increase from the earlier 10GB plan priced at ₦3,000. The 18GB plan has risen to ₦6,000, previously offered at ₦4,000 for 15GB, and the 25GB plan is now priced at ₦8,000, replacing the former 18GB plan that cost ₦5,000........…continue reading

♻️ RECYCLING

Mohinani Group to launch PET recycling plants in Nigeria and Ghana with a $37M IFC loan

In a significant boost for environmental sustainability and job creation, the International Finance Corporation (IFC) has partnered with Ghana-based manufacturer Mohinani Group Limited to spearhead the recycling of Polyethylene Terephthalate (PET) from plastic waste in Ghana and Nigeria. This strategic alliance marks a pivotal moment in Africa’s journey towards a circular economy and reduced dependency on virgin plastics.

Under this partnership, IFC will extend a loan of $37 million to support Mohinani Group’s subsidiaries, Polytank Ghana Limited and Sonnex Packaging Nigeria Limited, in establishing large-scale PET recycling plants. Each facility will boast an annual production capacity of 15,000 tons of recycled PET (rPET) resins. These resins will serve as substitutes for virgin PET used in manufacturing food-grade and beverage packaging containers. By sourcing 90 percent of the raw materials from local small businesses engaged in plastic collection, the initiative not only bolsters the recycling ecosystem but also stimulates local economies.......…continue reading

OTHER STORIES

• EIB invests €15 million in I&P Afrique Entrepreneurs 3 fund to boost economic development in Africa……..continue reading

• How African Creators Can Thrive on Short-Form Video Platforms…….continue reading

• Frogfoot Acquires ATC’s Fibre Business in South Africa……continue reading

OPPORTUNITIES

• Applications are now open for the latest edition of the Tony Elumelu Entrepreneurship Programme (TEEP), designed to support startups through comprehensive training, mentorship, and a funding opportunity of US$5,000 Deadline = 1st Mar 2025……..continue reading

• Global payment card network Visa has announced the opening of applications for the fourth edition of its biannual Africa Fintech Accelerator. Deadline = 15th March 2025…….continue reading

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