💰Ventures Platform 1st close - $64m

TGIF☀️

Big moves are happening at the intersection of hardware and intelligence, Samsung and NVIDIA are teaming up to build the world’s first “AI factory.” Think of it as the next step in giving AI its own production line — where chips, data, and computing power come together to fuel the next wave of breakthroughs.

It’s a reminder that AI isn’t just software magic; it’s powered by real machines, real chips, and massive innovation happening behind the screens. As giants like Samsung and NVIDIA lay the groundwork for this new era, the rest of us are standing right at the edge of what could redefine how technology is built, scaled, and shared.

So, as we slide into the weekend, one thing’s clear, the future of AI is no longer being imagined, it’s being manufactured.

Let’s dive in👇

Today’s Menu ☕️

💰Ventures Platform Bags $64M to Supercharge Africa’s Next Tech Wave
💸 Flutterwave and Payful Team Up to Make Cross-Border Payments Effortless in Africa
🚆Nigeria Wants Electric Trains in 5 Years, But Can the Power Grid Keep Up?
📶 Nigeria Adds 2 Million New SIMs — But We’re Using Less Data?!
⚖️ FCCPC Cracks Down on “Short Ankara” Scam in Kano
⚙️ China Goes Digital: New Entry Card and 10-Day Visa-Free Transit Make Travel Easier

💵 FUNDING

Ventures Platform Bags $64M to Supercharge Africa’s Next Tech Wave

Big moves are happening in African tech — and Ventures Platform is leading the charge again. The Lagos-based VC firm just secured $64 million for the first close of its new Pan-African Fund II, targeting a total of $75 million.

This isn’t just another seed fund. Ventures Platform wants to help startups push beyond early funding and actually scale — leading Series A rounds and backing the next generation of African unicorns. The fund will focus on Fintech, Healthtech, Agritech, Edtech, AI, and other sectors driving real impact.

Heavyweights like the IFC, Standard Bank, BII, Proparco, and Nigeria’s iDICE programme are on board, alongside global investors (yep, even Y Combinator’s Michael Seibel is in)........…continue reading

💵 PAYMENTS

Flutterwave and Payful Team Up to Make Cross-Border Payments Effortless in Africa

Big news in the fintech world! Flutterwave, Africa’s leading payments giant, has joined forces with Payful, a global payments provider, to make high-value and cross-border transactions faster, cheaper, and way easier across Africa.

Here’s the deal: Payful is expanding into Africa, and by plugging into Flutterwave’s powerful API, its merchants can now collect local payments and settle globally — without dealing with endless bank connections or compliance headaches.

At the heart of it all is Flutterwave’s Virtual Account solution, which gives businesses a simpler way to receive big payments via local bank transfers instead of pricey card systems. That means more reliability, less friction, and smoother business across borders.........…..…continue reading

🚆TRANSPORTATION

Nigeria Wants Electric Trains in 5 Years, But Can the Power Grid Keep Up?

Big moves are happening at the Nigerian Railway Corporation (NRC)! The agency just announced an ambitious plan to switch the country’s rail network to electric trains within five years — part of its bold new “Vision 2-5-10-20” plan.

Here’s the gist

• In 2 years, optimize existing rail assets.

• In 5 years, go electric.

• In 10 years, double rail capacity.

• And in 20 years, grow to a whopping 60,000km network nationwide.

Sounds exciting, right? But there’s one big question — where will all that power come from? 

Right now, Nigeria’s railways run on diesel locomotives (basically trains that generate their own electricity). Going electric means the NRC will have to build thousands of kilometres of electrified tracks, plus the massive power infrastructure to keep them running.........…..…continue reading

📶 TELECOMS

Nigeria Adds 2 Million New SIMs — But We’re Using Less Data?

On paper, Nigeria’s telecom numbers look great — 173.5 million active lines, 49% broadband penetration, and teledensity at 80%. Sounds like progress, right? Well, not quite. Dig a little deeper into the NCC’s latest report, and you’ll see something odd — data usage actually dropped in September, even though millions of new SIMs were added.

So, what’s going on? It’s simple — people are cutting back. With rising food, fuel, and power costs, Nigerians are trimming non-essentials like extra YouTube hours or Netflix binges. Data has become the new “sachet” product — small, necessary, and something you stretch as far as you can............…..…continue reading

⚖️LEGAL

FCCPC Cracks Down on “Short Ankara” Scam in Kano

If you’ve ever bought 5 yards of ankara only for your tailor to say, “Madam, e no reach o!” — the FCCPC just came for the people behind that pain. 😤

The Federal Competition and Consumer Protection Commission has shut down five massive textile warehouses in Kano after uncovering a major fabric fraud. These traders were selling materials labeled as 5 or 10 yards that turned out to be shorter — sometimes by a whole yard!

Big-name brands like Mama Africa, LGR, Hightex, and Nana Tex were all caught in the mix. The FCCPC says this scam cheats both customers and honest traders, creating billions of naira in fake sales every month........…..…continue reading

⚙️TECHNOLOGY

China Goes Digital: New Entry Card and 10-Day Visa-Free Transit Make Travel Easier

Traveling to China is about to get way smoother. Starting November 20, you’ll no longer fill out those old paper arrival cards — everything’s going digital. Travellers can now register online before flying through the NIA website, app, or even via WeChat and Alipay.

But that’s not all — China is also rolling out a major visa-free expansion. You can now stay up to 10 days (240 hours) without a visa if you’re just transiting through, and it’s open to travellers from 55 countries.

New entry points like the Hong Kong–Zhuhai–Macao Bridge and Guangzhou Pazhou Ferry Terminal mean you can zip between Hong Kong, Macao, and Mainland China — all in one trip, visa-free..........…continue reading

OTHER STORIES

• AXIAN Telecom Expands East African Footprint with Acquisition of Wananchi Group……continue reading

• Spotify Launches Weekly Listening Stats for Users….continue reading

• Perplexity to Pay Snap $400M for AI Search Integration………continue reading

• Samsung, NVIDIA Partner to Build World’s First AI Factory….continue reading

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