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Syndicate Bio, SophiaGenetics Forge Historic Partnership to Revolutionize Genomic Medicine in Africa

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An indigenous biotechnology start-up, Syndicate Bio, has joined forces with SophiaGenetics, a leading cloud-native software firm in data-driven medicine, to establish the first-ever laboratory in Africa offering comprehensive genomic profiling and liquid biopsy services.

This groundbreaking collaboration signifies a pivotal moment in Africa’s healthcare evolution, promising unparalleled access to state-of-the-art genomic technologies that were previously out of reach for patients across the continent.

By harnessing Sophia Genetics’ proficiency in cloud-based healthcare solutions, Syndicate Bio is set on a mission to democratize genetic testing and equip healthcare providers with advanced diagnostic tools.

The alliance holds immense promise for enhancing cancer care in Africa, where the need for such advancements is dire.

Recent data from the World Health Organization underscores the urgency of this endeavor, with a staggering 1.1 million new cancer cases reported annually in Africa, leading to approximately 700,000 fatalities.

Without immediate interventions, projections indicate a bleak outlook, with cancer-related deaths expected to soar to nearly one million annually by 2030.

The establishment of this laboratory fills crucial gaps in diagnostic capabilities, particularly benefiting underserved individuals who previously had to seek testing outside the continent. Moreover, it marks a significant step towards reducing the burden of cancer and other diseases in Africa.

According to the Chief Medical Officer of SOPHiA Genetics, this partnership transcends immediate clinical impact. By leveraging the wealth of data generated, the collaboration aims to fuel innovation, expedite drug discovery, and ultimately elevate health outcomes on a global scale.

In October 2023, Syndicate Bio reaffirmed its commitment to advancing genomic research in Nigeria by entering into a Memorandum of Understanding (MoU) with the Nigerian Institute of Medical Research (NIMR). This strategic alliance is poised to drive transformative studies in infectious and non-infectious diseases, with a specific focus on addressing prevalent health challenges within Nigeria.

Central to this collaboration is NIMR’s role in ensuring ethical oversight, facilitated through its internal ethics body and the National Health Research Ethics Committee (NHREC). By leveraging NIMR’s expertise and infrastructure, Syndicate Bio aims to expedite the identification of potential drug targets, thus catalyzing innovation in healthcare solutions tailored to the unique needs of the Nigerian population.

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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