안녕하세요,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- Nigeria launches a trade desk to attract more funding
- Mastercard opens its first office in Ghana
- Ethiopia to expand EV charging infrastructure
Mastercard opens its first office in Ghana
Mastercard is making a big move in West Africa by opening its first office in Accra, Ghana. With a physical presence in Ghana, Mastercard plans to work closely with local players, introduce innovative financial solutions, and strengthen its role in the country’s financial sector.
Mark Elliott, Mastercard’s Division President for Africa, said the new office is all about understanding and meeting the customers’ needs in Ghana. He highlighted their ambitious plans for West Africa and how having an office in Accra will make it easier to collaborate with local partners and roll out advanced payment technologies. The goal is to shape the future of payments in a way that benefits everyone.
Ghana’s economy is growing, with a 2023 GDP per capita of $2,238 and strong sectors like agriculture, mining, and tech. Mastercard sees this as an opportunity to drive digital transformation and support local businesses. Folasade Femi-Lawal, Mastercard’s Country Manager for West Africa, shared how partnerships with banks, fintechs, and other companies are already creating positive changes in the region.
Mastercard has been busy in Ghana long before opening this office. They’ve partnered with companies like Kalabash, KaiOS, and Boost to expand access to digital services in underserved areas. They’ve also teamed up with Access Bank and Fidelity Bank to improve cross-border payments, making it easier for people to send and receive money. Initiatives like the Mastercard Fintech Forum and Fraud and Cyber Resilience Forum have also brought important conversations and solutions to the table, helping the financial sector grow stronger.
This new office in Accra isn’t just a one-off. Mastercard already has offices in major cities across Africa, including Lagos, Nairobi, Johannesburg, and Casablanca. Opening in Ghana is another step toward building a more connected and sustainable digital economy across the continent. It’s clear Mastercard is doubling down on its mission to drive financial inclusion and bring innovative solutions to Africa.
Nigeria launches a trade desk to attract more funding
Nigeria has just launched the Technology Export and Digital Trade Desk, a new initiative designed to attract more investment into the tech sector and boost startup funding to $5 billion a year.
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The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, announced this yesterday, Monday, January 13, 2025, saying it’s a collaboration between his ministry and the Federal Ministry of Industry, Trade, and Investment.
So, what’s the plan? The Trade Desk is all about strengthening the tech industry’s role in Nigeria’s economy. Right now, the sector contributes about 14–18% to GDP, but the goal is to push that up to 21% within the next three years.
The Desk is working to increase annual funding for Nigerian startups, growing it from $1 billion to $5 billion over the same timeframe. On top of that, it’s expected to help startups access global markets and compete better across Africa and beyond. Tijani explained that this is part of the ministry’s trade strategy, which focuses on promoting Nigerian tech exports.
Per Nairametrics, there’s also a focus on improving Nigeria’s standing in the Economic Complexity Index (ECI), which measures how diverse and complex a country’s exports are. Nigeria doesn’t rank well right now — it’s sitting at 127th out of 133 countries. The government hopes the Trade Desk will change that by encouraging innovation and expanding the country’s digital economy. President Bola Tinubu has tied this effort to his broader goal of achieving a $1 trillion economy powered by innovation, investment, and trade.
Nigeria used to be the top destination for startup funding in Africa, but it was overtaken by Kenya in 2023. Last year, Nigerian startups raised just over $400 million, while Kenya brought in $638 million.
The bright spots for Nigeria were two big deals: Moove’s $110 million Series B, led by Uber, and Moniepoint’s $110 million Series C. The Trade Desk is expected to help change the game by increasing annual funding for startups and attracting more foreign investment.
Tijani called the initiative a big step forward for the country’s tech ecosystem. By focusing on digital trade and giving startups the tools they need to compete globally, the Trade Desk could help Nigeria reclaim its spot as a top destination for tech innovation and funding.
Ethiopia to expand EV charging infrastructure
Ethiopia is charging ahead with plans to expand its electric vehicle (EV) charging infrastructure, taking another step toward building a greener and more sustainable transportation system. The government announced a major push to roll out more EV charging stations across the country, making it easier for drivers to embrace electric cars and reduce reliance on fossil fuels.
This is part of Ethiopia’s broader environmental strategy. The country has been ramping up its commitment to renewable energy, leveraging its vast potential in hydropower and other clean energy sources. Now, the focus is on making electric mobility a key part of its green transition.
Currently, Ethiopia has a limited number of EV charging stations, which has slowed down EV adoption. By addressing this gap, the government aims to encourage more Ethiopians to consider electric cars, not just for environmental reasons but also to reduce long-term transportation costs.
The plan also ties into Ethiopia’s ambitions to position itself as a leader in clean energy innovation in Africa. The government is looking at how it can use its growing renewable energy capacity to power EVs, creating a sustainable cycle that benefits both the economy and the environment.
Globally, EVs are gaining traction, with countries like Kenya and South Africa also making strides in electric mobility. Ethiopia’s move puts it on the map as another African nation actively working to embrace this global trend. With the right investments and partnerships, the country could not only boost EV adoption locally but also attract international players to its market.
This expansion plan is a win for both the environment and the economy, paving the way for a cleaner, more sustainable future. It’s exciting to see how Ethiopia’s vision for renewable energy and electric vehicles will shape the region’s green transportation future.
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Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa.
