🏍️ Spiro raises $50m

Plus: 💵 Selar Launches ₦10M Tuition Grants

Innovation Village
February 25, 2026

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Good Morning Valued Subscribers👋

Selar, the African digital commerce and creator platform, has launched ₦10 million in tuition grants aimed at supporting 150 students across Nigeria. The initiative is designed to ease financial barriers to education, particularly for young learners and aspiring professionals seeking to advance their skills in technology, entrepreneurship, and creative industries.

By providing direct financial support, Selar is positioning itself as more than a commerce platform — it is emerging as a key player in Nigeria’s growing ecosystem of education and youth empowerment initiatives. The grants are expected to create tangible opportunities for students who might otherwise struggle to access quality educational resources, while reinforcing the company’s commitment to investing in human capital across Africa.

Let’s dive in👇

Today’s Menu ☕️

🏍️ Spiro Raises $50M to Expand Africa’s E-Mobility Network
💰Casava, Rivy Launch Solar Insurance for Nigerian SMEs
💡EKEDC Sets Feb 28 Tax ID Deadline for Businesses
💵 Selar Launches ₦10M Tuition Grants for 150 Students
🪙 Juicyway Upgrades Cross-Border Payments with Aptos

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🏍️ ELECTRIC VEHICLES

Spiro Raises $50M to Expand Africa’s E-Mobility Network

Spiro, a leading African electric mobility provider, has secured $50 million in debt financing from Afreximbank, Nithio, and the Africa Go Green Fund to accelerate its continental expansion. The funding will support the growth of Spiro’s battery-swapping infrastructure, development of proprietary technologies, and integration of renewable energy solutions.

Since its founding in 2022, Spiro operates in six countries with over 2,500 battery-swapping stations and a fleet of 80,000+ electric motorcycles, enabling more than 30 million battery swaps..............….continue reading

💰INSURANCE

Casava, Rivy Launch Solar Insurance for Nigerian SMEs

Casava has partnered with clean-tech financier Rivy to introduce Nigeria’s first dedicated renewable energy insurance suite for SMEs investing in solar power. The product embeds insurance directly into Rivy’s financing platform, enabling businesses to secure both funding and coverage in a single digital process.

The policy covers solar panels and inverters against theft, vandalism, and accidental damage, as well as transit and pre-installation risks. The move addresses a longstanding gap in Nigeria’s clean energy ecosystem, where SME solar installations—typically costing ₦500,000 to ₦5 million—have been difficult to insure.............….continue reading

💡ELECTRICITY

EKEDC Sets Feb 28 Tax ID Deadline for Businesses

Eko Electricity Distribution Company (EKEDC) has directed all corporate and Maximum Demand customers to submit verified tax identification details by February 28, 2026, or risk invoice suspension and possible disconnection.

Under the Nigerian Tax Act (2025), electricity invoices must include a valid Tax Identification Number (TIN), CAC registration number, or National Identification Number (NIN). Bills issued without these details will be considered invalid, potentially preventing invoice generation and leading to service disruption...............….continue reading

💵 EDUCATION

Selar Launches ₦10M Tuition Grants for 150 Students

Selar has announced a ₦10 million tuition grant under the third edition of its Smart Hustle Initiative, targeting 150 Nigerian students. The fund will award ₦100,000 each to 50 final-year university and polytechnic students, and ₦50,000 each to 100 SS3 students preparing for WAEC and JAMB exams.

Applications run from February 24 to March 13, 2026, with eligibility requiring academic documentation and a video statement. The programme aims to ease financial strain amid rising tuition costs and address broader socioeconomic challenges affecting youth...........….continue reading

🪙CRYPTOCURRENCY

Juicyway Upgrades Cross-Border Payments with Aptos

Juicyway has integrated the Aptos blockchain to modernize cross-border payments, enabling faster, cheaper, and more reliable settlements. Leveraging Aptos-native stablecoins, the platform—having processed over $3 billion in transactions—offers near-instant settlement, improved liquidity across Africa, and smoother global transactions.

The upgrade reduces transaction fees, mitigates FX volatility, and provides predictable payments for businesses. It also supports faster USD settlements, expanded Africa–Asia corridors, and compliant on- and off-ramp connectivity............….continue reading