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Five Nigerian Startups Click Top 10 In Cohort 8 Google For Startups Accelerator

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Tech giant, Google, has selected five Nigerian startups to be part of cohort 8 of Google for Startups Accelerator. 

This year’s cohort consists of 10 tech startups from Nigeria, Kenya, Rwanda, and South Africa, all using AI to solve significant challenges across various sectors, including fintech, climate, health, and other services. 

Emerging from competitive applications opened to all African startups in April this year, Nigeria dominates this cohort accounting for 50% of the 10 slots

According to Google, the 10 startups were selected from nearly 1,000 applications, highlighting the remarkable talent and creativity in the African tech ecosystem.

The startups selected from Nigeria include:

  • CDIAL AI, is a startup that is transforming multilingual communication across Africa with the power of artificial and collective intelligence;
  • Earthbond, which is lighting up homes and businesses across Africa with affordable, reliable energy solutions, bolstered by carbon accounting and development finance;
  • MyAIFactchecker, which equips users with an AI-powered tool to combat misinformation and promote informed decision-making through fact-checking;
  • NextCounsel, a Nigerian startup that is supercharging lawyer productivity with an AI-powered tool for contract management, solicitor engagement, and compliance; and
  • Rana Energyprovides clean, reliable energy solutions to SMEs and communities through a data-driven ecosystem. 

 Five others who were selected from other African countries includes;

  1. Fixxr, a South African company that is putting car owners and businesses in the driver’s seat with transparent and convenient on-location vehicle maintenance and repair services;
  2. Lifesten Health from Rwanda, is a health and wellness through cutting-edge screening and incentive-based programs focused on physical, mental, and nutritional health. 
  3. Nakili,a Kenyan startup that is bringing salons, barbershops, and spas into the digital age with a mobile-based app for streamlined management and enhanced customer experiences;  
  4. Nobuk Africa, also from Kenya, is simplifying financial management for groups and collectives across Africa with a seamless platform for collecting funds, reconciling payments, and generating reports; and 
  5. Triply, another Kenyan startup that is building Africa’s travel operating system, connecting travellers with seamless booking experiences and travel businesses with powerful management tools.

Commenting on the selection, the Head of Startups Programs for Google in Africa, Folarin Aiyegbusi, said:  

“We are thrilled to welcome the 8th cohort of the Google for Startups Accelerator Africa program. These startups represent the future of African innovation, harnessing the power of technology to solve real-world problems and uplift their communities. We are committed to supporting these founders by providing them with the resources and mentorship they need to succeed and scale their solutions.” 

He also noted that from July 29th to September 20th, 2024, the ten startups would participate in a structured program designed to support their growth.  

“They will receive direct access to the expertise of Google mentors and seasoned entrepreneurs who have navigated the startup pathhe stated  

“They will engage in technical workshops to refine their products, hone their business strategies, and strengthen their leadership skills. The program will also prepare them to secure follow-on funding from Google’s global network of investors,” he added. 

Since its inception in 2018, the Google for Startups Accelerator Africa program has supported 106 startups from 17 African countries.  

According to the company, these startups have collectively raised over $263 million and created more than 2,800 direct jobs, showcasing the program’s substantial impact on the African tech landscape.  

This year’s cohort places a strong emphasis on artificial intelligence, highlighting the growing importance of advanced technologies in addressing Africa’s most pressing challenges. 

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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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Business

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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