Author: Insider Editor

Nigeria’s Central Bank has raised its interest rate to 27.5% in its final monetary policy meeting of the year, following a rise in inflation in October. The monetary policy committee (MPC) increased the benchmark rate by 25 basis points to address the growing inflationary pressures. Governor Olayemi Cardoso explained at a media briefing that the decision was made in response to the uptick in both food and core inflation measures, which saw significant year-on-year increases in October 2024. “Members agreed unanimously to stay focused on addressing price developments,” he said. The rate hike follows an unexpectedly strong economic performance in…

Cleo Capital, an early-stage venture fund known for backing companies like AI firm Groq, fintech platform Ellevest, and fashion brand Hill House, has announced a new cybersecurity accelerator aimed at tackling the growing challenges of online threats. The program is open to pre-seed and seed-stage startups worldwide. This remote, 12-week accelerator offers participants a standard investment of $250,000 in exchange for 7% equity. Cleo Capital plans to select up to ten companies for the inaugural cohort. Sarah Kunst, Cleo Capital’s founder and managing partner, was inspired to launch the initiative after observing a surge in fraud across sectors she’s involved…

As the CEO of Maser Group, a $5 billion leader in consumer electronics, and the founder of MDR Investment, I’ve always believed in the transformative power of investment to uplift communities. In Africa, with its vast, untapped resources, we see a unique opportunity to combine cutting-edge technology with sustainability. Maser Group and MDR Investment are working together to ensure that Africa’s resources fuel its growth, create jobs, and reduce poverty across the continent. Revolutionizing Africa’s Mining Sector The global shift towards greener energy has ignited an unprecedented demand for minerals like copper, cobalt, and lithium, which Africa has in abundance.…

Gossy Ukanwoke’s story is one of vision, passion, and innovation. From his early days as a young entrepreneur shaking up Nigeria’s digital education sector with BAU, Nigeria’s first online university, to stepping into one of the country’s biggest entertainment and tech companies, BetKing, Ukanwoke’s journey is nothing short of remarkable. Before joining BetKing, Gossy had stepped back from the daily grind of business to focus on investing in other ventures. But in 2019, when BetKing called on him to lead, he couldn’t resist. At the time, BetKing was just another player in the crowded Nigerian sports betting industry. Under his…

1. Ignoring Market Research: The Blindfolded Voyage Mistake: Imagine setting out on a journey without a map or compass. That’s what many entrepreneurs do when they neglect market research. They pour their heart and soul into a product or service they believe in, only to discover that no one else is interested. This lack of understanding can lead to launching a product that falls flat or, worse, becomes a costly failure. Lesson Learned: Before you dive in, take the time to truly understand the waters you’re entering. Conduct comprehensive market research to know your audience, identify competitors, and spot industry…

Zenith Bank has announced the fourth edition of Zecathon, its flagship startup competition and incubation program aimed at nurturing Nigeria’s tech and entrepreneurial ecosystem. The initiative targets early-stage startups developing innovative solutions in fintech, embedded finance, cybersecurity, healthtech, agritech, and e-commerce. ₦77.5 Million in Prizes and Comprehensive Support With total prize money of ₦77.5 million, the program offers significant financial backing for startups: Winners will also benefit from a six-week incubation program running from December 2024 to February 2025, providing: Application and Competition Timeline Eligible startups must be registered Nigerian businesses with viable products or MVPs demonstrating market traction in…

The essence of entrepreneurship is filled with unexpected turns and challenges. Founders launch their companies based on a vision, creating a business plan that reflects their hopes for the future. They hit the ground running, making rapid decisions with limited resources and unclear expectations about the outcomes. In many ways, they are constructing the foundation of a house without knowing what the roof will ultimately look like. The decisions made in these early stages are crucial, laying the groundwork for the company’s future as it grows. However, the pressure of arbitrary deadlines and self-imposed goals can lead founders to overlook…

This exclusive program is tailored for promising education technology startups that harness artificial intelligence, providing a fantastic opportunity for Utiva to amplify its impact on education across Africa. The Growth Academy is a three-month hybrid initiative that offers startups equity-free support, access to Google’s tools, and hands-on mentorship from AI experts. Participants also gain strategic advice to help scale their businesses, improve their leadership skills, and connect with a global network of venture capitalists and industry leaders. Utiva’s involvement highlights its emerging role as a leader in using AI to address challenges in education. This opportunity couldn’t be more timely…

The days when Africa was labelled the “Dark Continent,” plagued by challenges like illiteracy, a heavy disease burden, and information gaps, are long gone. In 2024, Africa is thriving with informed citizens, improved infrastructure, and growing economies, according to AvaTrade, a trusted broker with seven regulations across six continents. Unemployment rates are decreasing as the Internet continues to educate and empower individuals in financial matters. With greater access to technology, people are learning about forex trading, making significant investments, and enjoying a higher standard of living. The outlook for 2025 is even brighter, with technology poised to drive Africa into…

As an advisor to small businesses and aspiring founders, I often encounter the misconception that every new business must begin with a disruptive idea. I disagree. In my experience, the most successful entrepreneurs identify a significant opportunity first and then apply innovative ideas to address it. The best opportunities arise from pressing needs, coupled with a growing customer base that has purchasing power. For instance, technologists sometimes create a new device or app simply because they can, assuming it will appeal to everyone. Similarly, social entrepreneurs may pitch ambitious ideas to end world hunger, overlooking the fact that those most…