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Beyond degrees: ABU Zaria to transform students into entrepreneurs before graduation. August 25, 2026 Discover more World News Feed Newspaper Ad Space Local News August 25, 2026 - Advertisement - Discover more Nigeria Business Directory Government Discover more Aviation Industry News Ahmadu Bello University, ABU, Zaria, is intensifying efforts to equip students with entrepreneurial skills and transform them into employers of labour before graduation amidst shrinking conventional employment opportunities. The Vice-Chancellor, Prof. Ahmed Adamu, disclosed this in Zaria on Tuesday, at the inauguration of the "Create Before You Graduate" programme, an initiative organised by the International Centre for Excellence for Rural Finance and Entrepreneurship, ICERFE. The programme was organised in collaboration with the university's Directorate of Advancement and International Education, to provide students with opportunities to develop and commercialise innovative ideas. Mr Adamu said the initiative was designed to move entrepreneurship education beyond classrooms by providing students with the freedom, space and support required to transform innovative ideas into viable businesses. He noted that the university had offered entrepreneurship-related courses for years, adding that it would now focus more on producing graduates capable of creating jobs rather than depending on others. "We have always felt that, in recent times, we need to get students out as employers of labour rather than employees of other people," he said. The vice-chancellor said the university had developed the networks and traction required to sustain the initiative through support from alumni, investors, government agencies and financial institutions. He said ABU's growing reputation in innovation had attracted policymakers and investors, adding that various state governments and development partners were increasingly supporting initiatives promoting entrepreneurship. Mr Adamu disclosed that Moniepoint had recently selected ABU for an investment of about N1 billion to establish an incubation hub, expected to further strengthen the university's innovation ecosystem. He explained that "Create Before You Graduate" would operate as a standalone platform rather than a compulsory academic course, giving students greater freedom to explore ideas beyond conventional classroom limitations. The vice-chancellor said the initiative could serve as a model for universities seeking to complement academic learning with practical entrepreneurship, innovation and job creation capable of contributing to economic development. Earlier, a former Director-General of the National Automotive Design and Development Council, NADDC, Jelani Aliyu, urged students to harness innovation and emerging technologies to contribute meaningfully to national development. Mr Aliyu, who delivered keynote address at the event, said the paper intended to inspire students to believe in their abilities, remain patriotic and recognise their capacity to develop solutions capable of benefiting communities and Nigeria. According to him, Nigerian students could compete globally if they understood available opportunities and technological tools and effectively applied them to develop innovative solutions to contemporary challenges. "We are at a crucial point in Nigeria's history where we need every innovative idea to really move the country forward," Mr Aliyu said. He urged the students to take advantage of the tools, facilities and enabling environment provided by ABU to pursue innovative ideas, develop solutions and achieve their entrepreneurial aspirations. Speaking on electric mobility, Aliyu said although he had left NADDC for the private sector, initiatives introduced during his tenure contributed significantly to advancing Nigeria's electric vehicle development. He said the council pioneered solar-powered electric vehicle charging stations to address challenges associated with unreliable electricity supply from the national grid. Mr Aliyu added that NADDC worked with automobile manufacturers and supported the establishment of training centres, noting that some companies were now assembling electric vehicles locally. He expressed optimism that Nigeria's electric mobility drive would continue to gain momentum, pledging his continued support for technological innovation and development of the sector. Also speaking, a former Vice-Chancellor of the university, Prof. Shehu Abdullahi, assured students that the university would continue providing mentorship and other support while allowing them to lead innovation development. Mr Abdullahi urged the university management to sustain the initiative, stressing that producing self-reliant graduates capable of creating employment was essential to addressing Nigeria's growing youth unemployment challenge. In his remarks, the Director of ICERFE, Prof. Baba El-Yakub, said the university remained committed to supporting outstanding student teams participating in international innovation and entrepreneurship competitions. Mr El-Yakub said ABU had previously supported students who represented Nigeria at international competitions in Silicon Valley, United States, and China, demonstrating its commitment to nurturing young innovators. He disclosed that three student teams were currently preparing to participate in innovation-related engagements in Nairobi, Shenzhen and Brazil as the university continued mobilising support for student innovators. NAN - Advertisement - More articles. 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Moniepoint is phasing out MonieWorld, its UK remittance product. Quick Links * Exclusive Moniepoint is phasing out MonieWorld, its UK remittance product By Temitayo Jaiyeola 25th Aug, 2026 Get TC updates in your Newsfeed Share Less than 18 months after launching MonieWorld to serve Nigerians in the UK, Moniepoint, the Nigerian fintech unicorn, is discontinuing the diaspora-focused business after what it says was a thorough review of the group's portfolio and long-term priorities. "Moniepoint Inc., Africa's all-in-one financial platform, today announced that MonieWorld, its UK-based remittance business, is undergoing a strategic transition as the Group refocuses its resources on building and scaling its core platform for African businesses," the company said in a statement shared with TechCabal on Tuesday. The move marks a shift in Moniepoint's expansion strategy as it scales back from the UK to double down on markets where it already has scale. In April 2025, Moniepoint launched MonieWorld, its remittance product that allows UK residents to send money directly from a MonieWorld account, cards, a British bank account, or via Apple Pay and Google Pay to any Nigerian bank account. At the time, the company was targeting a slice of the £2.76 billion ($3.69 billion) UK-Nigeria remittance market. "MonieWorld has given Nigerians in the diaspora a fast and reliable way to send money directly to any Nigerian bank account, supporting friends and family back home," the company said in the statement. However, Moniepoint is now phasing out its UK remittance product less than two years after launching, marking a retreat from its first foray outside Nigeria that required millions of dollars in upfront investment. Rather than continue funding the UK business, Moniepoint is redirecting its resources to Nigeria, where it processed $294 billion in annualised transactions in 2025, and Kenya, where it acquired a majority stake in a microfinance bank in May. The company said MonieWorld was built on an intentional foundation of early-stage investment following the incorporation of Moniepoint GB in February 2024. "The Group committed £1.2 million in setup expenditure covering administrative costs, tech infrastructure, and compliance staffing necessary to operate within the UK's regulated market and secured a $2.5 million equity deposit to acquire FCA-authorized Electronic Money Institution Bancom Europe Ltd in July 2025," it said. The Bancom deal was meant to fast-track Moniepoint's UK play and clear regulatory hurdles for operations across the UK and the European Economic Area. According to UK regulatory filings in 2025, Moniepoint Group earmarked $7.39 million for its London expansion. Between February and December 2024, it spent $1.26 million, reported as a loss, on administrative and infrastructure expenses, and another $2.51 million as an equity deposit for its acquisition of Bancom, an electronic money institution regulated by the UK's Financial Conduct Authority (FCA). "Despite the trading loss, demand for remittance services in the market has remained stable, supported by the strong and consistent flow of funds from the UK to Nigeria," the company wrote in the regulatory filings. Moniepoint said in its Tuesday statement that MonieWorld recorded a 70% increase in monthly transaction volume among the UK diaspora using cards, Apple Pay, and Google Pay. "Having validated its cross-border infrastructure and delivered value to thousands of diaspora users, the Group is now redirecting this technical, capital, and operational architecture toward its primary African markets," it said. It did not disclose how much money MonieWorld processed or how many customers it acquired. The company confirmed MonieWorld will still process funds and customers will receive communication throughout the transition, including guidance on timelines, next steps, and support for any funds or transactions in progress. Moniepoint added that most of the MonieWorld team will be redeployed to other departments. "Changes arising from the MonieWorld decision will involve a combination of role transitions and redeployment, with affected employees already informed and supported through the process. Further changes will take place over the coming weeks," it said. The company did not give a clear timeline for the transition process. Even as it discontinues its UK remittance play, Moniepoint is not abandoning international expansion altogether. Instead, it said it is focusing on Africa. "The company's next chapter will build on this principle, with continued investment in products, infrastructure and markets that strengthen African businesses," it said. In May, Moniepoint completed its acquisition of a 78% stake in Kenya's Sumac Microfinance Bank, ending a multi-year effort to secure a foothold in East Africa's largest economy. In July, it appointed Rose Muturi, former Branch Kenya CEO, as the chief executive for Kenya. Moniepoint, best known for its blue Point-of-Sale devices used by thousands of agents across Nigeria to dispense cash, is doubling down on what works: Nigeria, where it recently acquired Orda, a cloud-based restaurant software provider, and Kenya, where it already has established operations and regulatory footholds. True scale demands moving beyond surface-level integrations to robust execution. We've filtered the noise out of Moonshot 2026, optimising the conference strictly for high-calibre connections between startup founders, global financial operators, enterprise leaders and individuals rewiring Africa's technical frameworks. Get 20% off Early Bird tickets for a limited time. More from this Author * Explainers AI is making Africa's cheapest smartphones harder to afford * Telecoms Nigeria to earn $41 million from MTN's $406 million dividend payout * Banking Nigerians are returning to ATMs as PoS transactions fall 20% Exclusive Exclusive: Kenya's Cloud9 acquires Chpter less than a year after founders left Kenn Abuya | 3 weeks ago

A deep dive into Proparco's 14 African investments. As a development finance institution (DFI), Proparco's venture activity in Africa is defined by its role as a syndicate partner, not a leader. The fund has led only one of its 14 tracked deals, indicating a clear prefere AU-Startups · Midnight Proparco leads just 7% of its African venture deals. As a development finance institution (DFI), Proparco's venture activity in Africa is defined by its role as a syndicate partner, not a leader. The fund has led only one of its 14 tracked deals, indicating a clear preference for joining rounds where other investors set the terms and valuation. This follower strategy, combined with a heavy concentration in fintech and frequent collaboration with other institutional investors, paints a picture of a capital provider that amplifies existing venture rounds rather than originating them. How they actually invest. Proparco's investment strategy spans from seed to Series C, but its activity clusters around early-growth stages. Series A rounds are the most frequent target, accounting for four of their 14 deals, with seed and bridge rounds each appearing three times. This suggests a mandate that is flexible on stage but finds a sweet spot in providing capital to companies that have already found product-market fit. Their behaviour is overwhelmingly that of a co-investor. Leading just 7% of their deals means that in 13 out of 14 cases, they relied on a different fund to take the lead director seat, conduct primary diligence, and set the terms of the deal. While they have participated in rounds with a total disclosed value of $306.4M, their individual cheque sizes remain unknown. The portfolio shows a powerful sector focus: 50% of the 12 companies they have backed are in fintech, a concentration that points to a clear and deeply held investment thesis. Who they invest alongside. Proparco's co-investor network reveals two primary channels for deal flow: other DFIs and established African venture capital funds. They have shared three deals with the International Finance Corporation (IFC), suggesting a strong syndication relationship between a DFI and the World Bank's private sector arm. This pattern points to a flow of deals that are vetted and structured within the institutional development finance community. At the same time, Proparco frequently partners with traditional VCs. They have joined rounds with E3 Capital, Launch Africa, and Digital Africa twice each. This demonstrates an ability to tap into the mainstream African venture ecosystem, likely joining rounds sourced and led by these on-the-ground fund managers. For founders, this means a commitment from one of these VCs could serve as a strong signal and a direct pathway to securing Proparco as a co-investor. What these bets say about the market. A funding gap of approximately $32.2 billion exists for Micro, Small, and Medium-sized Enterprises in Nigeria, according to one report. These businesses form the backbone of the economy but have been historically neglected by traditional banks, limiting their access to credit and reliable digital payments. Proparco has backed Moniepoint, a company building a full suite of financial tools for this segment. In the Democratic Republic of Congo, less than 20% of the population has access to electricity. This forces most businesses and households to depend on diesel generators, a market valued at $46.4 million in 2021 and projected to reach $62.1 million by 2030, according to ResearchAndMarkets.com. Proparco has invested in Nuru, a company developing and operating solar-powered metrogrids to provide a reliable alternative. Across the Middle East and Africa, a significant gap persists between the skills of young graduates and the needs of the technology job market, contributing to high youth unemployment. Traditional academic institutions often fail to provide the practical, job-ready digital skills that employers require. Proparco's portfolio includes an investment in GOMYCODE, an edtech company that provides blended online and in-person training. The supply chain for informal retailers in Francophone Africa is highly fragmented, with multiple layers of middlemen driving up costs and creating unreliable delivery. This structure limits shop owners' access to inventory and working capital, while denying FMCG brands visibility into their distribution channels. Proparco has backed Maad, a B2B e-commerce platform digitising procurement for these small retailers. What the portfolio is betting on. Proparco's investments reveal a clear thesis centred on fintech as foundational infrastructure for Africa's economies. With six of its 12 portfolio companies operating in this sector, the fund is betting heavily on platforms that enable payments, credit, and financial management for businesses. This is best exemplified by its backing of Moniepoint, which provides an all-in-one digital banking service for SMEs in Nigeria. Beyond pure fintech, the portfolio shows a focus on digitising other core sectors. This includes logistics and commerce through its investment in Maad, which is building a B2B marketplace for informal retailers in Senegal, and mobility through its backing of Fleeti. A third pillar of the strategy is investing in fundamental human and physical capital. This is visible in their support for edtech companies like GOMYCODE and Moringa School, which address the digital skills gap. It is also evident in their backing of Nuru, which is building critical energy infrastructure in the DRC. What we cannot see. Our data provides a clear view of Proparco's strategy, but it has important limitations. Most significantly, we cannot see the size of their individual cheques. The database tracks the $306.4M total value of the rounds they joined, but not their specific contribution, making it impossible to know if they typically write $1M or $10M cheques. Furthermore, the data on two of the 14 rounds is undisclosed, and the value of the bridge round for Moringa School is also missing, obscuring a portion of their investment activity. The scope of our data is the fund's "tracked activity", which may not represent its entire African venture portfolio. Finally, with a portfolio that began in mid-2022 and no recorded exits, it is too early to draw firm conclusions about their follow-on strategy or expected returns profile. If you are pitching them. * Secure a lead investor first. With a 7% lead rate, Proparco is almost certainly not going to lead your round. Your best approach is to pitch them to join a syndicate that already has a committed lead. * Your business should probably be in fintech. Half of their portfolio is in fintech, making it their clear area of focus. Companies providing financial infrastructure or services to SMEs are particularly well aligned with their demonstrated interests. * Get an introduction from their partners. Proparco consistently invests alongside the IFC, E3 Capital, Launch Africa, and Digital Africa. A commitment from one of these funds is likely the most effective way to get their attention. * Emphasise your long-term development impact. As a DFI, Proparco has a mandate that extends beyond purely financial returns. Founders who can clearly articulate their company's role in solving fundamental market problems, such as financial inclusion or infrastructure gaps, will resonate with their mission. Analysis reflects the writer's views based on public sources as of publication. For informational purposes; not financial or legal advice. Verify independently before acting on it. Editorial policy · Disclaimer.