💵 Nigeria generated ₦600bn VAT from Facebook, Amazon, Netflix

TGIF☀️

We made it, it’s finally Friday. The week may have had its twists, turns, and deadlines, but today comes with that built-in sigh of relief. Before you mentally clock out and let the weekend spirit take over, we’ve got a fresh roundup of stories to keep you in the loop.

Think of it as your pre-weekend catch-up: quick, sharp, and just enough to give you something interesting to chew on (or drop into conversation later).

Let’s dive in.

Today’s Menu ☕️

💵 FCCPC Resolves 9,000+ Complaints, Recovers ₦10 Billion for Consumers in Six Months
🩺 Nigeria Teams Up With China to Build Its First Insulin Plant
💵 Nigeria generated ₦600bn VAT from Facebook, Amazon, Netflix and Other Tech Companies
🏢 African Startup Funding Dips to $117 Million in August 2025 After July Highs
💵 Onafriq, Visa Launch Visa Pay to Boost Digital Payments in DRC
📶 Airtel Africa Begins Construction of the Largest Data Centre in East Africa
💰Vision Invest makes first major African investment with $700M stake in Arise IIP
🤖 OpenAI Signs $300B Cloud Computing Deal With Oracle

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 💵 TAX

Nigeria generated ₦600bn VAT from Facebook, Amazon, Netflix and Other Tech Companies

Nigeria has achieved a major milestone in digital taxation, collecting over ₦600 billion in VAT from global tech giants like Facebook, Amazon, and Netflix. This success follows amendments to the VAT Act that brought non-resident digital companies into the country’s tax net, requiring them to register locally and act as collection agents. The move is part of broader tax reforms aimed at diversifying revenue, reducing oil dependency, and ensuring fairness.

Starting January 2026, reforms will exempt low-income earners and small businesses from certain taxes, while larger corporations contribute more. The government emphasizes these are not new taxes but a restructuring of existing ones. Nigeria’s achievement positions it as a leader in digital taxation across emerging markets.......…continue reading

🩺 HEALTHCARE

Nigeria Teams Up With China to Build Its First Insulin Plant

Nigeria has signed a landmark deal with Shanghai Haiqi Industrial Company to establish its first-ever insulin production plant, a move set to end decades of dependence on costly imports. The facility will stabilize supply, lower costs, and save billions in foreign exchange while creating jobs and building biotech capacity. For millions of Nigerians living with diabetes, it promises reliable access to life-saving medicine — and positions the country as a potential supplier for Africa.....…continue reading

 💵 FINANCIAL SERVICES

FCCPC Resolves 9,000+ Complaints, Recovers ₦10 Billion for Consumers in Six Months

Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has resolved over 9,000 consumer complaints and recovered ₦10 billion between March and August 2025, addressing issues like unauthorised deductions, hidden fees, and poor service. Banking topped the list of complaints, followed by FMCG, fintech, and power.

Beyond refunds, the FCCPC’s work sends a message that businesses must take accountability seriously while giving Nigerians confidence that their grievances matter. The data also highlights regulatory gaps, especially in banking and fintech, offering a roadmap for stronger oversight and consumer protection......…continue reading

🏢 STARTUP

African Startup Funding Dips to $117 Million in August 2025 After July Highs

African startups raised $117 million in August 2025, marking a slowdown from July’s record $555 million but still underscoring the resilience of the continent’s innovation ecosystem. Kenya led the charge with over $66 million from big-ticket deals such as CrossBoundary Energy’s $40 million raise, HewaTele’s $10.5 million, and Ampersand’s $10 million. Nigeria followed with more than $20 million, driven by Koolboks and Chowdeck, while Egypt attracted $14 million led by Breadfast and South Africa added nearly $9 million across diverse sectors.

Smaller markets like Ghana, Cameroon, DR Congo, and Seychelles also registered activity. Energy and climate tech dominated the funding landscape, complemented by fintech, healthtech, e-mobility, and commerce. Despite the dip from July, African startups have already drawn over $1 billion in Q3, reaffirming the continent’s growing importance in global venture capital......…continue reading

💵 DIGITAL PAYMENTS

Onafriq, Visa Launch Visa Pay to Boost Digital Payments in DRC

Onafriq, Africa’s largest digital payments network, has partnered with Visa to launch Visa Pay in the Democratic Republic of Congo, a country where less than a quarter of the population has access to formal banking. By connecting mobile money platforms like M-Pesa and Airtel Money with Visa’s global infrastructure, the move will allow millions of Congolese to transact more easily across local and international systems.

This integration could unlock new opportunities for trade, remittances, and digital commerce, positioning the DRC—and Africa more broadly—on a path toward deeper financial inclusion. While adoption challenges remain, the partnership signals a shift from fragmented mobile money systems to globally connected digital finance.....…continue reading

📶 TELECOMS

Airtel Africa Begins Construction of the Largest Data Centre in East Africa

Airtel Africa has broken ground on what will be East Africa’s largest data centre, a 44MW facility in Kenya’s Tatu City Special Economic Zone. Built through its subsidiary Nxtra, the site will host AI-ready infrastructure, advanced security, and near-perfect uptime when completed in 2027. The project follows Airtel’s recent 38MW build in Lagos, underlining its strategy to expand secure, large-scale data centres across Africa’s biggest growth hubs.

Tatu City’s renewable-powered ecosystem and investor-friendly incentives make it an ideal location, positioning Kenya as a continental leader in sustainable digital infrastructure. With Africa still accounting for less than 2% of global colocation supply, Airtel’s investment highlights both the scale of the gap and the opportunity. Once live, the facility is set to power enterprises, governments, and communities, while anchoring East Africa’s ambitions in the global cloud economy...…..continue reading

💰INVESTMENTS

Vision Invest makes first major African investment with $700M stake in Arise IIP

Saudi Arabia’s Vision Invest has entered Africa with a landmark $700 million investment in Arise Integrated Industrial Platforms (Arise IIP), one of the continent’s largest-ever private infrastructure raises. Arise IIP, active in 14 countries, develops industrial parks that integrate logistics, energy, and manufacturing to strengthen local value chains and reduce import dependence.

The partnership adds Vision Invest to a strong shareholder base that includes Africa Finance Corporation, Equitane, and Afreximbank’s FEDA. The new capital will accelerate Arise IIP’s mission to drive job creation, local manufacturing, and economic diversification—while marking Vision Invest’s first direct foothold on the continent...…..continue reading

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