- Share
- Tweet
Applications are now open for Momentum Cohort 2, an incubation programme supporting tech-driven startups across Africa that are ready to take their ventures to the next level.
The programme is designed for startup teams seeking the right environment, resources and support to grow their businesses and create meaningful impact.
Programme Highlights
- Cohort: Momentum Cohort 2
- Eligibility: Tech-driven startups across Africa
- Team requirement: Teams must have 2 co-founders
- Incubation period: 6 months
- Location: Kigali, Rwanda
- Relocation: Selected teams must be willing to relocate to Kigali for the six-month programme
- Solo founders: Not eligible
- Deadline:26 August 2026
The opportunity is particularly suited to founders building innovative technology solutions with the potential to grow and contribute to Africa’s digital economy.
AIMS’ partnership with the Mastercard Foundation includes entrepreneurship support as part of its broader work to equip young Africans with skills and pathways to meaningful work and innovation.
Who Should Apply?
The programme is ideal for African tech startup teams that:
- Have two co-founders actively involved in the venture.
- Are building technology-driven solutions.
- Are ready for an intensive incubation experience.
- Can commit to relocating to Kigali for six months.
- Are looking to strengthen their product, business model and growth strategy.
How to Apply
Interested and eligible startup teams can submit their applications through the application link below:
Call For Applications: Ashinaga Africa Initiative Scholarship 2026( Fully Funded)
Call For Applications: Pan-African Youth Impact Bootcamp 2026 | Fully Funded – Cohort 2.0
Business
EU, UNIDO Build Capacity for Small Hydropower Projects Supporting Nigeria’s Agro-industry
The European Union (EU) and the United Nations Industrial Development Organisation (UNIDO) are stepping up efforts to expand Nigeria’s renewable energy capacity, with the 620kW Balanga Dam Small Hydropower Project in Gombe State emerging as a potential model for powering agro-industrial development.
UNIDO, with funding support from the EU, organised a capacity-building workshop in Gombe on Monday to strengthen the ability of policymakers, project developers, financial institutions and other stakeholders to develop and implement Small Hydropower (SHP) projects.
The workshop also featured the fourth meeting of the project steering committee, where participants examined the potential of small hydropower to expand electricity access, promote rural development and support agro-processing activities.
Speaking at the event, UNIDO Representative and Sub-Regional Director, Philbert Johnson, said Nigeria has an estimated 24,000 megawatts of hydropower potential, including about 3,500MW from small hydropower projects.
Johnson said Nigeria’s electricity access remains below 60 per cent, highlighting the need to harness the country’s renewable energy resources to close the electricity supply gap.
“Among these renewable energy sources, SHP holds great potential towards increasing access to electricity and addressing climate change,” he said.
According to Johnson, the project is being implemented by UNIDO in collaboration with the Federal Ministry of Power, Federal Ministry of Water Resources and Sanitation, Rural Electrification Agency and relevant state governments, including Gombe.
He explained that the Balanga Dam project was selected as a practical case study for the workshop to give participants hands-on knowledge and skills needed to effectively develop and implement small hydropower projects.
“The Balanga Dam Small Hydropower Project is more than a mere energy infrastructure initiative. It provides us with a hands-on opportunity to examine how our water resources can be optimally harnessed to support economic transformation, improve livelihoods and strengthen energy security,” Johnson said.
The 620kW project is expected to play a broader role beyond electricity generation by supporting irrigation, water supply, flood control, livelihoods and agro-processing activities in Gombe State.
The Deputy Governor of Gombe State, Dr Manassah Jatau, said the state government would provide the necessary support to accelerate the completion of the project.
Jatau commended the EU Delegation, UNIDO, the Global Environment Facility and the Rural Electrification Agency for their contributions to the development of the project.
He described the Balanga Dam project as strategically important to the state, particularly because of its potential to provide clean electricity while supporting agricultural and rural economic activities.
“It is a great honour for us to host this important Capacity Building Workshop on Small Hydropower Development. By choosing Balanga Dam SHP as a case study, you have put Gombe State on the national map for renewable energy and sustainable water management,” Jatau said.
The deputy governor also disclosed that the state government would facilitate the completion of the hydropower project and the agro-processing cluster expected to serve as the primary off-taker of the electricity generated.
He said the government would integrate small hydropower development into its rural electrification and irrigation master plan while promoting community ownership to ensure the sustainability of the project.
“We will integrate SHP development into our rural electrification and irrigation master plan. We will ensure community ownership so that the project is protected, sustained, and delivers benefits to the host communities,” Jatau said.
The project reflects growing efforts to connect renewable energy development with productive economic activities rather than focusing solely on electricity generation.
The initiative also highlights the potential of Nigeria’s small hydropower resources to contribute to the country’s energy transition while supporting climate resilience and inclusive rural development.
With Nigeria facing persistent electricity supply challenges and increasing demand for reliable power, stakeholders at the workshop stressed the importance of developing alternative energy sources that can serve communities and productive sectors.
The EU-UNIDO partnership is therefore positioning small hydropower as part of a wider strategy to expand renewable energy, strengthen energy security and promote sustainable industrial development in Nigeria.
The development of the Balanga Dam project is expected to further strengthen Gombe State’s renewable energy drive while creating a link between clean power generation, agriculture, irrigation and rural economic development.
Business
AFC Capital Partners Launches $150m Climate-Resilient Infrastructure Fund in Nigeria
AFC Capital Partners, the asset management subsidiary of the Africa Finance Corporation (AFC), has launched a $150m Infrastructure Climate-Resilient Fund (ICRF) in Nigeria following regulatory approval from the Securities and Exchange Commission (SEC).
The fund was formally launched in Lagos on Monday through the establishment of an SEC-registered closed-end investment vehicle designed to channel domestic institutional capital into critical green and climate-resilient infrastructure projects across Nigeria.
The Nigerian fund forms part of a broader $750m pan-African climate initiative and is expected to help unlock investments from pension fund administrators, insurance companies and sovereign wealth funds. The initiative is targeting an overall project financing pool of $3.7bn.
Speaking with journalists on the sidelines of the launch, the Chief Financial Officer of AFC Capital Partners Nigeria Limited, Chika Dotimi-Beke, said the immediate priority is to raise capital and begin deploying it into infrastructure projects.
“The primary goal is to bring investors into the fund. Today marks the approval of our license from the SEC, so our focus is now on onboarding institutional investors,” Dotimi-Beke said.
She added that the fund expects to make its first investment before the end of the year, with transport and renewable energy identified as priority sectors once the Nigerian fund achieves its first close.
Gbadebo Adenrele, Managing Director/CEO of Investment Banking at United Capital Plc, which served as financial adviser and issuing house for the transaction, highlighted the size of Nigeria’s domestic investment market.
According to Adenrele, Nigeria’s investment pool, particularly pension fund assets, is estimated at between N31tn and N32tn and continues to expand.
He also pointed to Africa’s infrastructure financing gap, estimated at between $130bn and $170bn annually, stressing the importance of de-risking infrastructure projects to attract institutional investors, development finance institutions and commercial banks.
The fund is also designed to address the growing economic impact of climate change on African infrastructure.
David Johnson, Chief Risk Officer at AFC, said Africa loses an estimated $200bn annually because of climate-related disruptions.
In Nigeria, he noted that flooding damages roads and creates severe traffic delays, while rising temperatures increase the deterioration of transport infrastructure. Transport costs currently account for nearly 40 per cent of the cost of goods, he added.
Johnson said investments in climate-resilient transport infrastructure could help reduce logistics costs for businesses and consumers while also delivering competitive returns to investors.
To manage project execution risks and currency volatility, the fund will maintain a diversified portfolio covering early-stage projects, mid-stage financing and mature operational assets.
Ayaan Adam, Chief Executive Officer of AFC Capital Partners, described the ICRF Nigeria as a dedicated investment pathway for institutional investors seeking exposure to climate-resilient infrastructure assets.
“By combining institutional capital with AFC’s infrastructure expertise and the catalytic power of blended finance, we can address both the financing needs of critical infrastructure and the growing risks posed by climate change,” Adam said.
The Green Climate Fund supports the vehicle by providing first-loss capital and technical assistance aimed at reducing investment risks and attracting additional private-sector financing.
AFC Capital Partners is an SEC-licensed asset manager registered in Mauritius and Nigeria. Its parent organisation, the Africa Finance Corporation, was established in 2007 and has deployed more than $20bn across 36 African countries.
Ashinaga is inviting applications for the Ashinaga Africa Initiative (AAI) Scholarship 2026, an international leadership programme providing full financial support for talented students from Sub-Saharan Africa to pursue higher education abroad.
The programme supports 20 students each year, equipping them with university education, leadership training and the skills needed to become future leaders and contribute to the development of their communities and countries.
About the Ashinaga Africa Initiative
The AAI is designed for young people who have lost one or both parents and demonstrate strong academic potential and a commitment to creating positive change in Sub-Saharan Africa.
Selected Scholars receive financial support for international university degrees, leadership development and other academic-related expenses.
Eligibility Requirements
- Have lost one or both parents.
- Have completed secondary school and obtained their national examination results within the last two years, or be completing secondary school and awaiting final results.
- Be unable to afford university education abroad without financial assistance.
- Be proficient in English, French or Portuguese.
- Have consistently ranked among the top 10% of their class during the last two or three years of secondary school.
- Be available to participate in Ashinaga’s preparatory programmes for one year before university.
- Be committed to returning to their home country or another country in Sub-Saharan Africa after graduation to contribute to its development.
- Have no dependents who could interfere with their studies.
- Be in good enough health to study abroad.
Benefits
The Ashinaga Africa Initiative provides comprehensive financial support, including:
- University tuition
- Accommodation during academic terms and holidays
- Health insurance
- International flights
- Monthly living stipend
- Food and necessary academic expenses
- Leadership development and preparatory programmes
Required Documents
- Passport, national ID card or birth certificate
- Death or disappearance certificate of the parent(s), or another official document proving orphan status
- Most recent secondary school report or transcript
- Secondary school completion certificate or equivalent, where applicable
- University academic records, if currently enrolled in university
Who Should Apply?
The opportunity is particularly suited to high-achieving young people from Sub-Saharan Africa who have experienced the loss of a parent, demonstrate leadership potential and are committed to contributing to Africa’s development after completing their education.
Interested applicants should review the official requirements and application process carefully before submitting their applications.
Application information:Ashinaga Africa Initiative – Official Application Page
Business4 years agoBREAKING: CBN announces New Withdrawal Policies, Pegs ATM Withdrawals Limit at N20,000 daily, N100,000 weekly
Business6 years agoFirst Bank Nigeria Joins SME Finance Forum
Business6 years agoFG Opens Application Portal for N75 Billion MSME Survival Fund 10pm Today, Releases Time-table for Payroll Support Scheme for different sectors
Business3 years agoCall for Applications: MTN ICT and Business Skills Training (N90 Million Grant for 300 Participants)
Business6 years agoHow to apply and benefit from free CAC Business Name Registration for 250,000 MSMEs
Business4 years agoCall for Applications: Rural Youth Skill Acquisition Programme for Nigerian Youths (receive N50,000 monthly stipend)
Articles & Resources6 years agoHow to put your house in order for tax purposes
Business4 years agoCall for Applications: Tony Elumelu Foundation Entrepreneurship Programme 2023 for African Entrepreneurs (get $5,000 seed funding)
