The federal government said that it would invest N12 billion to fund digital economy research projects, ensuring the country benefits from the dividends of digital transformation. Bosun Tijani, minister of communications and digital economy, said this at the opening ceremony of the 18th edition of the International Conference on Theory and Practices of Electronic Governance in Abuja. Mr Tijani said that platforms like ICEGOV had created an opportunity for countries to research the capabilities of emerging technologies and balance them with policies as they affect societies.

He said Nigeria’s participation in ICEGOV of 2024 highlighted the need for the country to research the digital economy, adding that the records won the country the confidence of partners to host the 2025 edition.
“The Nigerian government is not just doing this as a show because immediately after ICEGOV last year, we funded over 55 research projects.

“At the moment, we are putting together about N12 billion to fund further research projects that are focused on the digital economy. We are setting up three research clusters of six universities, each one focused on artificial intelligence, and another focused on the biggest issue in our nation today, which is connectivity, where we are investing significantly. “Thirdly, because of our population, we are also funding another research cluster that is focused on digital skills and literacy,’’ Mr Tijani said. The minister also stated that digital technologies have become the core of human activities, noting that without them, societies would remain underdeveloped.

According to him, it is essential that these technologies are no longer viewed solely as economic tools, but as instruments to reshape and govern society as well. Elsa Estevez, chair of the ICEGOV Steering Committee, while reflecting on the conference theme, noted that AI and its associated risks necessitate cooperation among countries, entities, and governments at all levels. She said that securing the public digital space requires regulation, education, and awareness, all based on sound information ethics.

Kashifu Inuwa, Director-General of NITDA, stated that the government had plans to integrate digital literacy skills into the school curricula by 2026. Mr Inuwa said the government needed to do that to ensure the country’s youthful population’s technology growth rate aligned with government initiatives. Mr Inuwa also stated that the government was implementing measures to ensure that public servants became digitally literate, thereby enabling better service delivery in the public sector.
(NAN)

Nigerian fintech firm Moniepoint Inc. said on Tuesday it had raised more than $200 million in a funding round led by Development Partners International, as it seeks to expand its digital financial services across Africa and beyond. The Series C financing, which also included LeapFrog Investments, Visa, Google’s Africa Investment Fund, and the International Finance Corporation, is one of the largest equity fundraisings by an African fintech this year. Moniepoint, formerly known as TeamApt, said the funds would support its expansion into new markets and enhance its offerings for small and medium-sized enterprises, which form the backbone of Africa’s informal economy. “This is a proud day for Moniepoint,” said Tosin Eniolorunda, the company’s co-founder and CEO. “We founded the company to widen financial inclusion and help African entrepreneurs realise their potential. This funding will help us accelerate that mission.”
Founded in 2015, Moniepoint has grown into Nigeria’s largest business banking platform, serving over 10 million active users and processing more than $250 billion in annual transaction value. The company has remained profitable at scale, a rare feat among global fintechs. The funding follows a string of product launches, including MonieWorld, a remittance platform targeting the African diaspora in Britain, and a bookkeeping tool for micro and small businesses. DPI, which led the first close of the round in 2024, said Moniepoint’s combination of growth and impact made it a standout investment. “Moniepoint continues to deliver innovation alongside sustained profitability,” said DPI partner Adefolarin Ogunsanya. “We’re proud to support its next phase of growth.”
LeapFrog’s Karima Ola said the investment aligned with the firm’s vision of building inclusive financial infrastructure across Africa. Lightrock, Alder Tree Investments, Proparco, Swedfund, and Verod Capital Management also participated in the funding round. Financial Technology Partners acted as exclusive adviser to Moniepoint.

United Nations’ leading development agency (UNDP) and the G7 Italian Presidency, along with a delegation of private sector leaders from the African continent, is meeting with G7 AI leaders in San Francisco, hosted by the Italy Consul General in San Francisco with Ministry of Enterprises and Made in Italy (MMIT), InnoVit and CDP. With the UNDP delegation led by the Chief Digital Officer Robert Opp, and the Italy delegation led by Fausta Bergamotto, Undersecretary of State, Ministry of Enterprises and Made in Italy the objective is clear: we must bend the arc of AI collectively to benefit sustainable development in Africa. The AI Hub for Sustainable Development is co-led by UNDP and Italy’s MMIT. Following the G7 Leaders Declaration, the Hub aims to co-create innovative partnerships, solutions, and investments between G7 and Africa’s private sector to transform energy, agriculture, health, water, education and training, and infrastructure in Africa. 

This international conference focused on four key areas of opportunities for development: 1) inclusive and representative datasets including low resourced languages, 2) local AI talent development across Africa in countries, 3) accessible and affordable green computing infrastructure, and 4) enabling environments for responsible AI adoption. As history was written in 1945 during the drafting of the UN Charter in San Francisco that gave birth to the United Nations, this international conference lays the fertile ground to anchor sustainable development at the heart of AI private sector globally and in Africa – and collectively move beyond goodwill and commitments to impactful, scalable partnerships with the private sector for AI-led industrial growth, one where Africa is an equal partner for years to come. Leaders from the Italian government, UNDP, and Silicon Valley’s investment community commented on the significance of the G7 Italian Presidency Special Event:

Vincenzo Del Monaco, Minister Plenipotentiary at the Ministry of Enterprises and Made in Italy and Co-chair of the G7 Digital and Tech Working Group: “True to the spirit of the Italy-Africa Mattei plan, we need to ensure AI is an equal partnership opportunity with Africa. The AI Hub is a space for collective action with the pivotal role of the G7 and African industry.” Keyzom Massally, Head of Digital & AI Programmes, UNDP:

“Sustainable development is facing multidimensional crises of trust and innovations that do not put people at the center of AI. Building on the AI commitments of G7 countries, we must convene in shared spaces to understand, learn, and co-create, and go beyond the status quo of global AI development. This is the goal of the AI Hub for Sustainable Development. Coming to San Francisco with African private sector leaders is a demonstration of how we must go beyond dialogue to people-focused impact for development at scale.” Ali Diallo, CEO and Founder, Aurion Capital: “With Aurion Capital, we are mobilizing capital to invest in AI-enabled companies supporting rural and emerging economies and at the same time, educating local stakeholders around ways to attract the right kinds of investments in the form of public, private, and institutional capital to solve challenges in key sectors like healthcare and energy.
Our funds are committed to empowering startups and innovation-driven enterprises that build transformational digital solutions that strengthen the footprint of America and of its allies on the international stage. Investing in critical digital infrastructure in an ever-changing geo-political landscape requires strong collaborations between all stakeholders; as a result, we are seeing significant interest from American investors and companies to build stronger bridges across Rural America and international markets such Italy and Africa through partnerships with local entrepreneurs and government agencies to ensure long term growth and sustainability.” Some notable African leaders working at the country-level for development at the international conference include: Tonee Ndungu, Founder, Kytabu; Alex Tsado, Founder and CEO, Ahura AI; Houda Ghozzi, CEO, Open Startup International; Daniel Boateng, Venture Talent Specialist, The Future List; and Sam Yala, President of the African Institute of Mathematical Sciences (AIMS).