News
AIF Tables $ 185 000 for Innovation Prize for Africa 2018 Awards
By peter oluka
The African Innovation Foundation (AIF) has announced the seventh edition of the Innovation Prize for Africa (IPA) www.InnovationPrizeForAfrica.org themed “investing in inclusive innovation ecosystems” thereby inviting submissionsto reward the best home-grown innovations on the continent.
The annual Award seeks to celebrate outstanding breakthroughs that deliver practical, and commercially viable African solutions that are innovative and sustainable.
Affirming AIF’s purpose to catalyse the innovation spirit in Africa, Pauline Mujawamariya Koelbl, the IPA Director commented, “We are pleased to launch IPA 2018 and are confident that this edition will prove bigger and better in terms of participation and quality of submissions.
With each edition, IPA has gone from strength to strength attracting innovators across disciplines and with outstanding solutions to African challenges.
For this seventh edition, we also look forward to expanding our ever-growing network of innovators, enablers and partners in order to join hands and build stronger, more sustainable innovation ecosystems that will propel the continent forward.”
IPA Awards timeline and eligibility
The call for entries will run for three months starting from 10 October 2017 with a submission deadline of 10 January 2018 at 23:59pm GMT.
IPA’s goal is to strengthen African innovation ecosystems by supporting a culture of innovation and competitiveness, whilst spurring growth of innovative, market-driven African solutions to African challenges.
Specifically, IPA honours and encourages pioneering achievements that contribute towards developing new products, increasing efficiency and/or saving cost in Africa. Applications will be accepted from all Africans including those living in the diaspora.
This edition encourages greater participation from women innovators who are increasingly playing a key role in driving African economies forward through business and entrepreneurship.
The submissions will be judged on the backdrop of IPA’s themes supporting social and economic innovation in the following five categories: manufacturing and service industry; health and well-being; agriculture and agri-business; environment, energy and water; and ICT showcasing ground-breaking innovations.
IPA 2018 winners will be announced at an annual ceremony in July 2018 (exact dates and country to be confirmed).
The Award is the leading innovation event on the African calendar, bringing together some of Africa’s most inspiring innovators and entrepreneurs, leaders of hubs and accelerators, angel and venture capital investors, development institutions, government leaders, media practitioners and other game changers.
Creating an enabling environment for local innovators
This year’s theme ‘Investing in Inclusive Innovation Ecosystems’ calls for African governments and innovation stakeholders to invest in building bridges for more inclusive ecosystems that will accelerate and scale African innovation at all levels of society.
The aim is to increase access to innovative financing and know-how and to enhance collaboration between African nations to enable local innovators to access higher value markets for their solutions at a faster rate.
“IPA is a platform to showcase the inherent ingenuity that exists in Africa,” said Walter Fust, Chairman of the AIF Board. “Each year, several hundred participants submit their entries with new solutions to overcome African-specific challenges. This year we want to drive greater pan-African synergies across our network of enablers and partners to create inclusive opportunities for local innovators and together disrupt business models, empower people and drive positive social impact across the continent.”
Register NOW for IPA 2018
Last year saw over 2 500 applications from across the continent, with the highest number of women applicants (482 representing 19%).
This year promises to be even bigger. To date, IPA has attracted more than 7 500 innovators spanning 52 countries featuring 55 of the continent’s top innovators and 400+ innovation enablers making it a truly a pan-African initiative.
Previously AIF has supported past winners and nominees with over US$ 1 million to move their innovations forward. Due to the exposure received via IPA, past winners have gone on to secure over US$ 30 million in investments to grow and scale their businesses.
In addition to the lucrative share prize of US$ 185 000 cash, selected innovators are offered many opportunities including access to the AIF networks via its platform, ZuaHub (www.ZuaHub.org), where AIF connects innovators with resources and help them grow.
AIF has contributed to building African innovation ecosystems and has witnessed increased opportunities for African innovators in comparison to 2011 when IPA was launched.
The selection process will be led by an expert panel based on their knowledge and experience within the aforementioned IPA five key sectors as well as their influence and contributions to the tech and business industry on the African continent.
Get involved and sponsor IPA 2018
In the last six years, the IPA has recognized numerous Africans for their innovative solutions aimed at improving the lives of people across the continent. The IPA Awards celebrate African ingenuity by showcasing and rewarding the very best African innovators solving African challenges and creating new opportunities which lead to inclusive growth across the continent.
For this edition, the IPA will bring together select stakeholders comprising of innovators, entrepreneurs, investors, leaders of innovation hubs and technology parks, policy makers as well cutting-edge African training institutions. It is an opportunity for companies to forge important partnerships, synergies and collaborations with innovation enablers from across the continent to strengthen Africa’s investment climate through innovation.
Organizations can register their interest in supporting African innovation by contacting AIF for more details on the IPA sponsorship opportunities available.
Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).
The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million
Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.
The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.
In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN, described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.
“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”
Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.
He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.
Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”
A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.
The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.
Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”
News
FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations
In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.
The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.
Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”
Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.
TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.
Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.
Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
MTN Says New N6.98 USSD Charge Won’t Affect Airtime Recharge
Sofri Microfinance Bank Rejig Digital Platforms for Better Customer Experience
DLM Group Unveils Innovative Sovereign Bond Backed Composite Notes
Study Reveals 7% of Industrial Organizations Tackle Vulnerabilities Only When Necessary
NITDA, NCFRMI Forge Strategic Alliance for Inclusive Digital Transformation of Displaced Nigerians
General News2 days agoNASRDA, Galaxy Space Firm Sign MoU on Satellite Connectivity
Telecom2 days agoOver 1m Nigerians Reached through MTN Staff’s Digital and Community Outreach
Telecom2 days agoMafab Gets 0724 Number Series, Launches Mcom 5G Brand
News2 days agoDBN Awards N13m in Grants to Tech Startups
Telecom2 days agoNCC to Name, Shame Telecom Infrastructure Vandals
News2 days agoFCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations
Telecom2 days agoWSIS Review: Nigerian ICT Leaders Urged to Shape Global Digital Future
E-Financial2 days agoBank Customers Petition CBN over Illegal Deductions, Demand Action