AGP Executive Report
Last update: 9 hours agoSME Growth & Grants: A Kenyan entrepreneur, Annick Gulenywa’s Veira, is building an all-in-one operating system for small businesses—covering sales, inventory, payments, tax compliance and AI insights—after winning support from the Tony Elumelu Foundation’s 2025 programme. Digital Payments & Inclusion: OpenAI says ChatGPT Ads hit a $1bn annualized revenue run rate in under 200 days and is expanding self-serve Ads Manager to India, Europe, the Middle East and North Africa, with SMBs taking a “material share” of spend. Connectivity Investment: Airtel Africa plans about $1.1bn in capex across 14 markets to expand coverage, fibre and capacity, with Nigeria a key focus as data demand rises and power costs bite. Energy for Businesses: All On and Energise Africa are investing $4m in solar mini-grids across 19 Nigerian communities in Jigawa and Bauchi, targeting nearly 100,000 people and local enterprise benefits. Water Crisis Hits Households: Residents in South Africa’s uMngeni-uThukela area report taps running dry for months, forcing long daily trips and still receiving municipal bills. Credit & Agriculture: Nigeria’s agriculture credit rose 23% in Q1 2026 as banks shifted lending away from oil and manufacturing. Cybersecurity for SMBs: Kaspersky warns small businesses face the same attack methods as large firms, with rising spyware, password-stealer and backdoor threats. SME Finance Deal (South Africa): The AfDB invested $332m via a Standard Bank social bond to expand SME lending, with extra focus on women-led businesses. Fraud Risk: A report highlights “dual fraud” threats in SMEs—both internal and external—showing how weak controls can turn everyday operations into losses.
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