In the latest edition of Marketplace Africa, CNN’s Eleni Giokos speaks to the Spotify Head of Music for sub-Saharan Africa, Phiona Okumu, about how Spotify is tapping into the African market and CNN’s Zain Asher learns how women are narrowing the female Fintech gap in Africa.
Spotify launched in South Africa in 2018 and in 38 more African countries in 2021. Okumu believes that Spotify is growing alongside its young population and is “resonating with a youthful audience… in a continent that is diverse as Africa. We needed to make sure that the product was custom-made for the region.”
Okumu acknowledges the musical complexities of the continent, and adds that it is important to “know that the world is ready and read indicators like the popularity and growth of different genres from the continent becoming billboard hits in the US, for example.” She continues, “We’ve seen such amazing success from artists like Wizkid, who is now a billboard artist, something that 10 years ago we might have only dreamed of. I think that’s also very much a result of what streaming is doing in the music world as a whole. It’s enabling discovery.”
According to Okumu, “a lot of Africa is unbanked and does not use credit cards”. To best cater to its new market, Spotify leveraged a partnership with M-PESA, a mobile payment service which is local to Kenya. “We are continuing to ensure that we partner with different service providers across the continent to make sure that the lifestyle of the audience that we want to court also makes sense to the product or makes sense with the product.”
The playlist African Heat is an example of a customised playlist that creates a taste of various African nations. This has enabled discovery for all music lovers across the world, “When you see them being reflected in global charts, then you know that it’s not just a story that we are telling ourselves, the success is global, it’s real, it’s exciting.”
In Nigeria, CNN meets Ife Durosinmi-Etti, founder and CEO of Herconomy, who shares the difficulties she faced when raising money for her business.
The World Bank says all-female start-ups received only 3% of the almost 2 billion dollar of investment going to African tech start-ups from 2013 to 2021. “What I’ve noticed in the tech space is that women are over mentored and underfunded. We need to do more to fund more women and ensure that their businesses actually grow from small businesses to big businesses,” says Durosinmi-Etti.
Fara Ashiru Jituboh, founder and CEO of Okra, raised 3.5 million dollars of venture capital (VC) funding in 2021. “Last year was one of the biggest funding years generally across the board. This last year, if you look at venture capital dollars into technology companies were over 5 billion, 2021 getting close to 6 billion,” she says.
Founder of Ingressive Capital, Maya Horgan Famodu believes that with the help of advancing technical contributions, talent, and infrastructure, “We’re seeing the version 4.0 of a typical emerging market technology ecosystem.”
She adds, “I don’t think there is necessarily a shortage of women technical talent across Africa. If you look at Nigeria, the requirement now for 30% plus of board members to be female. There are a ton of women owned funds [in Nigeria]. Almost every prominent VC in Nigeria has a female partner. If you have a bunch of female founded funds that are hanging out in diverse communities, then likely their portfolios will be reflective. We’re continuously seeing that materialise. There is a literal higher return on investment and higher IRR with diverse teams.”
Durosinmi-Etti concludes, “While funding is very difficult for women to get, some women are getting it and it is opening up. Things are changing.”
Horgan Famodu believes “We are all capable and we are all requisite. We’re all required to build a better Africa.”
Transafam Power CEO Engr. Vincent Ozoude To Speak on Tech-Driven Infrastructure at IoT West Africa
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Engr. Vincent Ozoude, the Managing Director and Chief Executive Officer of Transafam Power Ltd, a power-generating subsidiary of Transcorp Plc, will deliver a keynote address at the upcoming IoT West Africa conference.
created by photogrid
The conference, a premier gathering focused on the transformative power of the Internet of Things (IoT) across various industries, will take place in Lagos from May 13 – 15 2025.
Engr. Ozoude’s keynote, titled “Strengthening the Utilities Sector with Fast Adoption of Advanced Technologies for Future-Ready Infrastructure,” will highlight the critical role of technological innovation in revolutionizing the utilities landscape in West Africa and beyond.
Engr. Ozoude will also share insightful perspectives on how the rapid integration of advanced technologies, such as how Internet of Things (IoT), Artificial Intelligence (AI), and Data Analytics, can address key challenges and unlock unprecedented opportunities within the utilities (Power) sector, referencing how Transafam Power is leveraging cutting-edge technologies to generate sustainable power, contributing the Nigeria’s industrial and national development.
Furthermore, Ozoude’s keynote will explore strategies for enhancing operational efficiency, especially how IoT-enabled sensors and smart grid technologies can optimize energy generation, transmission, and distribution, reducing waste and improving overall efficiency. He will also touch on leveraging advanced technologies for predictive maintenance, early fault detection, and proactive management of Power Generating equipment and infrastructure to minimize disruptions and enhance reliability, as well as the significance of harnessing real-time data insights generated by IoT devices to inform strategic planning, optimize resource allocation, and enhance service.
Transafam Power, under Ozoude’s leadership, has been at the forefront of exploring and implementing innovative solutions to enhance its operations and contribute to a more reliable and sustainable power sector in Nigeria. In May 2023, the company had ceremonial commissioning of Nigeria’s first mobile power generating plant to the national grid, with eight trailer-mounted gas turbines of 30 megawatts each, amounting to 240 MW commissioned.
At the conference, industry professionals, policymakers, and technology enthusiasts will gather and deliberate on how toleverage advanced technologies to shape the future of utilities, presenting a valuable opportunity to gain first hand insights into the transformative potential of technologies.
IoT West Africa is recognized as a vital platform for fostering collaboration, knowledge sharing, and showcasing the latest advancements in IoT across various sectors in the region. Mr. Ozoude’s participation as a keynote speaker underscores the growing importance of technology in addressing the critical needs of the utilities sector and building a more resilient and efficient infrastructure for the future.
Nigeria Government, UN launch US$159 million plan to avert food security and nutrition crisis in Borno, Adamawa and Yobe states
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Nigeria’s Federal Minister of Humanitarian Affairs and Poverty Reduction, Professor Nentawe Goshwe Yilwatda and the UN Resident and Humanitarian Coordinator in Nigeria, Mohamed Malick Fall, today launched the 2025 Lean Season Response Plan for Borno, Adamawa and Yobe (BAY) states in north-east Nigeria.
The Plan seeks US$159 million for urgent nutrition, food, and health interventions and other life-saving assistance for 2 million people in most severe need in the BAY states over the next six months.
In the BAY states, 1 million children are at risk of severe acute malnutrition (SAM) in 2025 – double the number in 2024. Of these children, over 600,000 are at risk of SAM over the next six months. Without access to lifesaving nutrition services, they may die.
An estimated 4.6 million people in the BAY states are also projected to face acute food insecurity during the *lean season starting in June – according to the Government-led Cadre Harmonisé food security analysis results released in March 2025. This marks the sixth consecutive year of severe conditions.
In his remarks at the launch of the Plan in Abuja, Minister Yilwatda emphasized the need for urgent action. “This Plan is not just about structures and strategies. It is about a promise that no child in Borno, Adamawa, or Yobe should have to sleep hungry when the world has enough food; that no mother should lose a child to a condition we know how to treat, and that dignity must never be a casualty of conflict or poverty,” he said.
He also reaffirmed the Federal Government’s commitment to leading the response, aligning it to national policies.
The BAY states are grappling with a 15-year humanitarian crisis, which has been intensified by prolonged conflict, economic instability, and climatic shocks. Significant funding cuts for humanitarian operations in 2025 have multiplied the severity of needs and limited access to much-needed lifesaving support.
The health and nutrition sectors have been particularly impacted in the BAY states, with up to 70 per cent of health services and 50 per cent of nutrition services affected. This is threatening gains in malnutrition prevention and treatment.
“Humanitarianism is under threat; solidarity is in short supply, and the lack of resources is putting millions, especially children, at risk,” the UN Resident and Humanitarian Coordinator in Nigeria, Mohamed Malick Fall, said. He reiterated the critical role of Government leadership and the need for the private sector and emerging donors to support humanitarians to address the alarming needs.
Early action is critical to mitigate the worst impacts of the lean season on children under the age of five and pregnant and breastfeeding mothers. The lean season response plan focuses on the most immediate lifesaving needs, including food assistance, emergency healthcare, nutrition, water, sanitation and hygiene, protection, and agricultural livelihoods. It also calls for sustained investments in locally led responses for longer-term resilience.
In its continued effort toward the implementation of the present administration’s agenda of strengthening national security by committing to robust cybersecurity measures and digital trust to safeguard the nation’s digital infrastructure as well as contribute to the overall peace and prosperity of the nation, the National Information Technology Development Agency (NITDA), has signed a Memorandum of Understanding with SecDojo, SAS, a Cybersecurity training and upskilling company with headquarters in France, to strengthen national resilience against cyber threats through targeted capacity building initiatives.
The Director General of NITDA, Kashifu Inuwa CCIE, and Chief Executive Officer of SecDojo, Mr. Younes Benzagmout at the signing ceremony, which took place during GITEX Africa 2025 in Marrakech, Morocco.
August24news.com Editor gathered that the signing ceremony took place during GITEX Africa 2025 event in Marrakech, Morocco, with the Director General of NITDA, Kashifu Inuwa CCIE, and Chief Executive Officer of SecDojo, Mr. Younes Benzagmout, representing both organisations.
This strategic partnership is designed to bolster Nigeria’s cybersecurity landscape through comprehensive capacity-building initiatives.
The collaboration will focus on the establishment of a Cybersecurity Academy, delivery of advanced training and simulation programmes, development of customised curricula and educational resources, and facilitation of research, knowledge sharing, and professional exchange programmes.
Speaking at the signing ceremony, Inuwa expressed his enthusiasm about the collaboration, describing it as a key milestone in Nigeria’s journey toward a secure digital future.“We just signed an MOU with SecDojo, which is a cybersecurity capacity-building provider, and this is one of our efforts to strengthen our national cybersecurity to enhance our cyber resilience,” he noted.
He asserted that as Nigeria continues its digital transformation journey, investing in human capital is paramount, describing people as the technology component of any innovation ecosystem.
inuwa also noted the growing global demand for cybersecurity professionals and emphasised Nigeria’s potential to fill the talent gap, given its large and youthful population.“Globally, we have the gap, and in Nigeria, we have a young population that if we harness, well, we can train them and connect them with the global value chain to provide cybersecurity services and also to fill some roles and gaps in the global cybersecurity market,” he averred.
While pushing for digital skills integration into Nigeria’s formal education system, the DG called for deeper collaboration between technology stakeholders and the Federal Ministry of Education to embed digital literacy and cybersecurity training into Nigeria’s formal education system.
He stated that, there is an urgent need to shift from short-term skills acceleration programmes to long-term, systemic integration of digital skills into academic curricula at all levels, from primary to tertiary education.
“For me, this goes beyond NITDA. I see a national opportunity, one that involves the Ministry of Education, to institutionalise digital literacy through formal education,” he said. “Currently, what NITDA offers are skills acceleration programmes because these critical digital competencies are not taught in schools.
But to prepare for the future, we must embed these skills into our national education framework,” he added.
Highlighting successful models such as Cisco’s academic integration, which allows students in over 100 Nigerian universities to earn both degrees and professional certifications simultaneously, he stressed the benefits of a dual-track learning system that equips graduates for immediate relevance in the digital economy.
He noted that while Cisco has led the way, the ecosystem must be open to multiple partners, especially those aligned with Nigeria’s National Digital Literacy Framework, and encouraged tech firms and content providers to collaborate, offering open-source or customized content that can be adopted nationally.
“We don’t want to limit this to a single vendor. The opportunity is open to all.
Google has shown interest, and we welcome more partners. There are committees already working with the Ministry, and we’d love to see more stakeholders at the table,” he concluded.
In his remark, Mr Benzagmout, expressed his enthusiasm for the collaboration and reaffirmed the company’s commitment to working closely with Nigerian stakeholders.
He noted that the collaboration aims to bring SecDojo’s innovative training platforms and methodologies to support Nigeria’s cybersecurity professionals while contributing to the development and execution of a comprehensive national cyber capacity-building strategy.
“We sincerely thank NITDA for their trust and partnership and we are excited to begin this journey and look forward to building a successful and impactful collaboration,” he assured.