AfDB Opens HEI Innovation and Entrepreneurship –

• Share
• Tweet

The African Development Bank (AfDB), through its Innovation and Entrepreneurship Lab in partnership with EyeCity Africa, has opened applications forPhase II of its Higher Education Institutions (HEI) Innovation and Entrepreneurship Programme, a free initiative supporting African universities and research centres to establish or strengthen entrepreneurship support structures.

The programme aims to transform academic talent and research into viable businesses by equipping institutions with practical tools, training, networks and support to develop their innovation and entrepreneurship ecosystems.

Benefits of the Programme

Selected institutions will receive:

• Practical Training: Online training modules covering governance, operations, funding, partnerships and sustainability.
• Ready-to-Use Toolkits: Frameworks and practical resources to establish or improve entrepreneurship support structures.
• Continental Networking: Access to a pan-African peer network of higher education institutions.
• ENNOVA Platform Access: Onboarding to the African Development Bank’s ENNOVA platform.
• Strategic Support: Selected institutions will receive tailored, hands-on assistance to develop innovation and entrepreneurship strategies.
• Institutional Capacity Building: Support to strengthen incubators, innovation hubs, accelerators and technology transfer offices.

Participation is free of charge.

Who Can Apply?

• Higher education institutions across Africa.
• African universities seeking to establish entrepreneurship support structures.
• Research centres interested in strengthening innovation and commercialisation.
• Institutions with existing incubators, accelerators or innovation hubs.
• Institutions looking to establish or strengthen technology transfer offices.

Programme Tracks

Applications are open to institutions at different stages of development through two groups:

Start Group: Setting Up for the First Time

For institutions that want to establish enterprise support structures but do not yet have an incubator, innovation hub or technology transfer office.

Scale Group: Strengthening Existing Structures

For institutions with existing incubators, accelerators, innovation hubs or technology transfer offices seeking to improve and expand their operations.

Application Requirements

Interested institutions must demonstrate the following:

• Leadership Commitment: A letter from the head of the institution confirming commitment to the programme and future entrepreneurship support initiatives.
• Staff Availability: Ability to commit approximately 12–16 hours over a three-week period.
• Women and Youth Participation: Commitment to promoting the participation of women and young people in entrepreneurship support activities.

Applicants should also prepare their institution’s details and information about the current stage of their enterprise support unit.

How to Apply

Interested and eligible African higher education institutions and research centres should:

1. Visit the official programme application portal.
2. Review the programme requirements and select the appropriate group: Start or Scale.
3. Prepare institutional information and details about existing or planned entrepreneurship support structures.
4. Obtain a commitment letter from the institution’s leadership.
5. Complete and submit the application form in English or French.

Application link:https://www.eyecity.africa/hei-call-for-applications

Application Deadline

Call for Applications: DBN Free Entrepreneurship Training Program for Entrepreneurs Cohort 2

Call for Applications: SAIS Livestock Investment Readiness Program 2027 Offers African Start-ups (Up to €15,000 in Funding)

Business

Gombe Seeks Czech Investment in Agro-Processing: What It Could Mean for Local SMEs

Gombe State is seeking investment and technology partnerships with Czech businesses to expand agro-processing and manufacturing, with a focus on tomato processing, cold storage, irrigation and agricultural mechanisation.

The state government said the proposed partnerships would help reduce post-harvest losses, strengthen agricultural value chains and create employment opportunities by attracting foreign businesses into its agricultural and industrial sectors.

The Commissioner for Finance and Economic Development, Muhammad Magaji, disclosed this at an investment engagement organised by the Nigeria-Central Europe Chamber of Commerce (NCECC), in partnership with the Regional Trade Institute and the Embassy of the Czech Republic in Nigeria, in Abuja.

Magaji said Gombe accounts for an estimated 10 per cent of Nigeria’s tomato production, making the state an important location for investment in agricultural processing.

He also highlighted the country’s estimated $100 million annual tomato paste import bill and post-harvest losses of about 50 per cent of agricultural output as opportunities for investment in local processing and preservation facilities.

According to him, investments in tomato processing, cold storage, drying and packaging could help preserve agricultural produce, reduce waste and strengthen domestic production.

The commissioner added that improved road infrastructure would connect farming communities to markets and processing facilities, while better security would help create a more favourable environment for businesses and investors.

Speaking at the engagement, the Czech Ambassador to Nigeria, Tomáš Výprachtický, said economic cooperation between both countries could be strengthened by combining Nigeria’s agricultural resources and human capital with Czech engineering and manufacturing expertise.

He identified agriculture, energy, healthcare, security, manufacturing and technology as potential areas of cooperation, adding that partnerships could support investment, technology transfer and business development.

The Gombe State Governor, Muhammadu Yahaya, represented by his deputy, Manassah Jatau, said international partnerships could expand businesses, create employment and improve livelihoods, particularly among young people.

Also speaking, Jamilu Isyaku Gwamna, who is a member of the NCECC Advisory Council, identified precision engineering, industrial technology and water-production systems as areas where Czech expertise could support agricultural and industrial development in the state.

He said international partnerships should focus on increasing agricultural production, expanding local processing and manufacturing, and creating employment opportunities.

The engagement also featured discussions on collaboration between Nigerian and Czech universities in areas including computer science, artificial intelligence, precision engineering and applied research.

Williams Kuria, Vice-Chancellor of the Federal University of Applied Sciences, Kachia, said technology partnerships should go beyond importing equipment to developing local skills to operate, maintain and eventually manufacture industrial machinery.

The event, themed Opportunities and Possibilities Between Nigeria and the Czech Republic, brought together government officials, diplomats, investors and business leaders to explore trade, investment and technology transfer opportunities.

However, no specific investment amount or signed investment agreement for Gombe State was announced at the event.

The proposed partnerships could create opportunities for small businesses operating across Gombe’s agricultural and manufacturing value chains, particularly those involved in tomato production, food processing, packaging, storage and transportation.

For small-scale agro-processors, investment in processing facilities and preservation technology could improve access to equipment and infrastructure needed to convert agricultural produce into finished products.

Improved cold storage, drying and packaging facilities could also help businesses preserve perishable produce, reduce post-harvest losses and extend the period within which agricultural products can be sold.

Farmers and agricultural cooperatives could benefit from stronger connections to processing companies and larger markets, while small businesses involved in packaging, equipment supply, logistics and distribution could find opportunities within an expanding agricultural value chain.

Technology transfer and skills development could also support local manufacturers and technical businesses seeking to improve production processes and adopt more efficient equipment.

However, the extent of these opportunities will depend on whether the proposed investment discussions translate into concrete projects, business partnerships and accessible support for local enterprises.

Business

LCCI Identifies Six Measures to Reduce Business Operating Costs: What Nigerian SMEs Stand to Gain

The Lagos Chamber of Commerce and Industry (LCCI) has identified six key measures the Federal Government should implement to reduce the cost of doing business, support small and medium-sized enterprises (SMEs) and stimulate economic recovery in Nigeria.

The chamber called for urgent government action to address rising operating expenses, improve the business environment and strengthen productive activities as the country enters the final quarter of 2026.

The Director-General of LCCI, Dr Chinyere Almona, said coordinated policy measures were necessary to ease production constraints and improve conditions for businesses across the country.

The six priorities identified by the chamber include reducing energy and transportation costs, accelerating support for manufacturing and SMEs, sustaining disinflation while protecting productive investment, improving the tax and regulatory environment, strengthening agricultural value chains and promoting public-private sector dialogue.

On energy and logistics costs, Almona called for improved electricity supply, stronger domestic refining and distribution efficiency, better transport infrastructure and the removal of unnecessary charges across supply chains.

She said government efforts to moderate petrol price volatility should translate into lower and more predictable energy costs for businesses.

The chamber also urged the Federal Government to expand support for manufacturers and SMEs through affordable financing, reliable electricity, improved industrial infrastructure and more efficient import and export procedures.

It called on development finance institutions to provide transparent financing arrangements for viable businesses, with interventions focused on improving productivity, production capacity, technology adoption and employment.

On inflation and investment, Almona said monetary policy should remain consistent with price stability while considering the effects of interest rates on credit availability for productive businesses.

She added that fiscal policy should complement monetary measures by addressing supply-side constraints, improving infrastructure and strengthening domestic production.

Regarding taxation and regulation, the LCCI director-general called for simplified compliance procedures, effective taxpayer education, harmonisation of overlapping charges and transparent dispute-resolution mechanisms.

She also recommended reviewing regulations that impose disproportionate costs on SMEs to encourage business formalisation, investment and expansion.

On agriculture, the chamber urged increased government investment in irrigation, mechanisation, storage facilities, rural roads, agricultural financing and agro-processing.

It also called for measures to address insecurity in farming communities and improve the transportation of agricultural produce from farms to markets.

According to Almona, reducing food prices requires an efficient agricultural value chain that minimises wastage, transportation expenses and unnecessary intermediaries.

The chamber further called for institutionalised engagement between the government and organised businesses to improve policy implementation, address operational challenges and strengthen accountability.

Almona said such engagements should provide opportunities for stakeholders to assess policy outcomes and resolve challenges affecting businesses.

The recommendations highlight some of the major challenges facing small businesses in Nigeria, particularly high electricity and transportation expenses, limited access to affordable financing and multiple regulatory obligations.

Improved electricity supply and lower logistics costs could help small manufacturers, retailers and service providers reduce their operating expenses and improve their ability to compete.

Increased access to affordable financing could also enable SMEs to purchase equipment, expand production, adopt new technologies and employ more workers.

Simpler tax procedures and harmonised charges could reduce the administrative and financial burden on small businesses, particularly those seeking to formalise their operations.

For agribusinesses, improved storage facilities, irrigation, rural roads and agricultural financing could help reduce post-harvest losses and improve access to markets.

The LCCI maintained that the next phase of economic reforms should translate macroeconomic improvements into lower business costs, stronger domestic production, higher productivity and employment.

Business

CBN Raises Capital Requirements for Stablecoin Operators: What Nigerian Fintech SMEs Should Know

The Central Bank of Nigeria (CBN) has introduced new capital and licensing requirements for stablecoin issuers and other virtual asset service providers, raising the financial and regulatory obligations for businesses operating in Nigeria’s digital asset market.

The requirements are contained in the bank’s Regulations for the Operations of Non-Security Virtual Assets in Nigeria, issued on November 5, 2026, to establish a regulatory framework for stablecoins, deposit money tokens and related virtual asset services.

Under the new framework, issuers of naira-backed stablecoins, classified as Class 1 operators, are required to maintain a minimum paid-up capital of ₦10 billion.

Companies issuing foreign currency-backed stablecoins, including dollar-pegged tokens, classified as Class 2 operators, must maintain at least ₦15 billion in paid-up capital.

The CBN also prescribed a minimum capital requirement of ₦1 billion for other non-security virtual asset service providers, including businesses involved in cryptocurrency exchanges, digital wallets, custody, transfers and related services.

The bank said the capital requirements must be maintained at entry and throughout the period of operation, adding that it may prescribe higher amounts depending on the risks and activities of individual operators.

The new rules also require stablecoin issuers to maintain reserve assets equivalent to the value of their outstanding tokens, alongside an additional two per cent buffer to protect against potential losses and operational liabilities.

For naira-backed stablecoins, issuers must also maintain at least 20 per cent of their reserve pool in a dedicated deposit account with the CBN.

The regulations further introduce requirements covering corporate governance, liquidity management, customer protection, cybersecurity, anti-money laundering and regulatory reporting.

Existing operators are required to register with the CBN within 30 days of the commencement of the regulations, begin submitting supervisory reports within 60 days and complete their licence applications within 180 calendar days.

The bank said existing operators may continue providing services during the transition period, subject to regulatory conditions and restrictions on expanding their activities.

Operators that fail to submit their applications within the stipulated period will be required to stop providing the regulated services until they obtain the necessary licence or authorisation.

The framework also distinguishes between virtual assets regulated by the CBN and those classified as securities, which remain under the regulatory oversight of the Securities and Exchange Commission (SEC).

The higher capital requirements could make it more difficult for smaller fintech startups to enter the stablecoin issuance market, particularly businesses that do not have access to substantial investor funding or institutional capital.

For startups planning to issue naira-backed stablecoins, the ₦10 billion minimum capital requirement creates a significant financial threshold, while businesses seeking to issue foreign currency-backed stablecoins must meet the higher ₦15 billion requirement.

Smaller fintech companies that operate cryptocurrency exchanges, digital wallets, custody and transfer services are subject to the separate ₦1 billion capital requirement. This means businesses must identify the category of service they provide to determine the applicable licensing and capital obligations.

The regulations could also increase operating costs for affected businesses, as they will need to invest in compliance systems, cybersecurity, customer verification, transaction monitoring and reporting processes.

Another important consideration is that the capital requirements must be maintained separately from funds held as stablecoin reserves, customer assets and operational liquidity. Businesses cannot use the same funds to satisfy multiple regulatory obligations.

For existing operators, the transition period provides time to review their business structures, capital positions and licensing status before completing the required applications.

However, the requirements do not mean that every fintech business using stablecoins or offering digital payment services must maintain ₦10 billion or ₦15 billion in capital. The applicable threshold depends on whether the business issues stablecoins or provides other regulated virtual asset services.

The CBN said the new framework is intended to support responsible innovation while strengthening financial stability, consumer protection and oversight of virtual asset activities in Nigeria.

• 
  Business4 years ago

  BREAKING: CBN announces New Withdrawal Policies, Pegs ATM Withdrawals Limit at N20,000 daily, N100,000 weekly

• 
  Business6 years ago

  First Bank Nigeria Joins SME Finance Forum

• 
  Business6 years ago

  FG Opens Application Portal for N75 Billion MSME Survival Fund 10pm Today, Releases Time-table for Payroll Support Scheme for different sectors

• 
  Business3 years ago

  Call for Applications: MTN ICT and Business Skills Training (N90 Million Grant for 300 Participants)

• 
  Business5 years ago

  Sendbox raises $1.8 million in seed funding to digitize deliveries for African SMEs

• 
  Business6 years ago

  How to apply and benefit from free CAC Business Name Registration for 250,000 MSMEs

• Business4 years ago

  Call for Applications: Rural Youth Skill Acquisition Programme for Nigerian Youths (receive N50,000 monthly stipend)

• 
  Articles & Resources6 years ago

  How to put your house in order for tax purposes