Africa Startups Kick Off 2025 With Nearly $300M in Funding

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February 10, 2025

The year 2025 has started on a high note for Africa’s startup ecosystem, with January marking a significant milestone in Venture funding.

According to a report by Africa: The Big Deal, African startups collectively raised $289 million through deals exceeding $100,000, excluding exits. This impressive figure represents a 3.5x increase compared to January 2024, when startups secured just $85 million.

The significant funding recorded, also makes January 2025 the second-best January in recent history, trailing only the record-breaking month of January 2022, which occurred during the peak of the funding surge.

Surge in Equity Funding

Africa’s financial Equity landscape experienced a significant transformation in January 2025, with a notable surge in equity funding attracting investors from across the globe. A staggering 90% of the total funding in January came from Equity investments, amounting to $262 million, which is a 4.4x increase from January 2024. This makes it the second-strongest January for equity fundraising since at least 2019.

In total, 40 deals of $100,000 or more were recorded, fewer than in 2022, 2023, and 2024. However, on a positive note, 26 of these deals exceeded $1 million, surpassing the 21 deals recorded in January 2024. This also makes it the second-best January in terms of the number of $1 million+ deals since at least 2019.

Major Deals Driving the Momentum

A significant portion of the funding was concentrated in just four large deals, which collectively accounted for nearly 60% of the total funds raised. These deals came from startups within the Big Four African markets (Nigeria, South Africa, Egypt, and Kenya), though three of them focused on expansion into new regions within and beyond Africa.

The standout deals of the month included:

PowerGen (Energy) – $50M+: Raised to develop a scalable platform for distributed renewable energy solutions across Africa.

LemFi (Fintech) – $53M: Secured funding to support its expansion into Asia and Europe, strengthening its global footprint in cross-border payments.

Naked (Insurtech) – $38M (Series B): Aimed at automating and broadening its product offerings, leveraging Al-driven insurance solutions.

Enko Education (Edtech) – $24M: Raised capital to continue expanding its network of African schools, improving access to quality education.

Could Africa’s Latest Funding Surge Produce a New Unicorn?

Recall that last year the African continent recorded a significant milestone after it produced two unicorns (Moniepoint and Tymebank). With a whopping $289 million already raised in January 2025, African startups have no doubt begun the year on a strong footing. The scale of investment suggests that the continent may likely witness the rise of another unicorn valued at $1 billion or more.

Historically, African unicorns such as Flutterwave, Chipper Cash, and MNT-Halan emerged after securing large funding rounds and demonstrating rapid growth in high-potential markets. If we look at the current funding trends, some of the startups that secured significant funding last month could be on a similar path.

Startups like LemFi and Naked are already on growth trajectories that could push them toward the $1 billion valuation mark, especially if they continue expanding into new markets successfully. The combination of increased investor confidence, market expansion strategies, and strong sector growth makes it likely that at least one of these startups or another high-growth company could hit unicorn status in the near future.

A Promising Start for 2025

The remarkable growth in startup funding at the beginning of 2025 reflects a renewed investor confidence in Africa’s innovation ecosystem. Despite global economic uncertainties, the continent continues to attract substantial capital, particularly in sectors such as fintech, energy, insurtech, and education.

If this momentum persists, 2025 could shape up to be one of the most exciting years for Africa’s startup landscape. With strong early indicators, all eyes will be on how the funding trajectory evolves in the coming months and whether Africa’s startups can sustain this impressive growth throughout the year.

Okomu Oil Palm Plc Reports 58% Profit Growth in 2024, As Revenue Surged by 73.44%

By

Samuel Nwite

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February 10, 2025

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Okomu Oil Palm Plc has announced a pre-tax profit of N52.05 billion for the 2024 financial year, reflecting a 58% increase from the N32.85 billion recorded in 2023. The company attributed this remarkable growth to a sharp rise in revenue, which surged by 73.44% to N130.06 billion, compared to N75.10 billion in the previous year.

The surge in revenue was largely driven by strong domestic sales of crude palm oil and rubber, which contributed over 82% of total revenue. Local sales climbed significantly to N107.54 billion, up from N67.04 billion in 2023, reflecting heightened market demand. Export sales also experienced robust growth, rising to N22.5 billion from N7.5 billion in the previous year.

Despite the impressive revenue growth, Okomu Oil Palm Plc faced significant cost pressures, with total expenses rising by 76.5% year-on-year to N79.21 billion. The cost of sales grew to N48.48 billion, an increase of 75.6% while operating expenses surged by 78% to N30.78 billion.

Nevertheless, the company maintained a strong gross profit margin of 62.7%, a slight dip from the 63.2% recorded in 2023. This indicates that, despite rising costs, Okomu Oil Palm successfully retained a substantial portion of its revenue as gross profit, demonstrating effective cost management and strategic pricing.

The company’s operating profit rose by 69% to N50.79 billion, indicating improved management of costs relative to revenue generation. Okomu Oil Palm also recorded a net finance income of N1.26 billion, mainly driven by foreign exchange gains from export proceeds, which helped cushion the impact of mounting FX losses.

After accounting for taxation, which increased by 52% year-on-year to N17.77 billion, Okomu Oil Palm Plc’s profit after tax stood at N34.28 billion, representing a 61.9% increase compared to the previous year. The company’s earnings per share (EPS) also grew by 61.9% to N35.93, reflecting improved returns for shareholders.

The company’s return on assets (ROA) improved to 28% from 22%, indicating better efficiency in utilizing its assets to generate profit. Similarly, the return on equity (ROE) increased to 257% from 193%, signifying a substantial rise in shareholder value as a result of higher profitability.

However, the company experienced a decline in its inventory turnover rate, which fell from 0.12x in 2023 to 0.09x in 2024. This suggests that Okomu Oil Palm took a longer time to sell its inventory, potentially due to increased stock levels or a slower sales cycle.

On the capital structure front, the equity ratio rose slightly from 41% to 42%, indicating a modest increase in the proportion of assets financed by shareholders, including retained earnings. Additionally, Okomu Oil Palm enhanced its financial flexibility by increasing its working capital from N4.55 billion to N8.28 billion in 2024, thereby strengthening its ability to finance operations and meet short-term obligations.

The company’s improved financial performance reflects stronger sales and marketing strategies, effective cost-control measures, enhanced asset efficiency, and a robust cash position. These factors have contributed to better shareholder returns and positioned Okomu Oil Palm Plc for sustained growth in the coming years.

Okomu Oil Palm’s record-breaking earnings come at a time when Nigeria’s palm oil industry is witnessing renewed expansion, with Presco Plc, another major player in the sector, also posting a record pre-tax profit of N128 billion for 2024. The continued growth of domestic palm oil production is expected to generate significant foreign exchange inflows and support Nigeria’s ongoing efforts to diversify its economy.

The surge in Nigeria’s palm oil output is occurring amid supply disruptions in the global market, particularly in Malaysia, the world’s second-largest producer. Malaysia’s palm oil production fell by 17% in January 2024, marking its largest decline in nine years due to heavy rains and flooding that disrupted harvesting. The country’s palm oil reserves also dropped by 7.6% to 1.58 million tons, leading to a tighter supply in international markets.

Nigeria was once a dominant player in the global palm oil industry, accounting for 43% of global production in the 1960s. However, its market share has since dwindled to about 2% today. The country now produces only 1.4 million metric tons annually, while demand stands at 3 million metric tons, forcing Nigeria to spend over N500 billion annually on imports to bridge the supply gap.

However, local companies such as Okomu Oil Palm and Presco Plc are leading a resurgence in Nigeria’s palm oil sector, helping the country reduce its reliance on imports and reinforcing its position in the global supply chain.

Why Dreamcars’ $DCARS Presale Could Be the Next Opportunity in Crypto

By

TI Partners

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February 10, 2025

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Let’s be honest – most of us have stopped at a luxury car dealership window, dreaming about sliding behind the wheel of that gleaming Lamborghini. But the price tag? Ouch. That’s where Dreamcars comes in with a game-changing idea.

They’re taking those dream machines and slicing them up into affordable pieces using blockchain tech. Their $DCARS token presale is making waves, already pulling in more than $1.3 million from savvy investors who see the potential in turning these head-turners into money-makers.

Transforming Luxury Cars from Status Symbols to Income Generators

Remember the old saying about cars being the worst investment because they lose value the moment you drive them off the lot? Dreamcars is tearing up that rulebook. Instead of watching these beautiful machines burn through cash sitting in garages, they’re putting them to work. And here’s the kicker – you can grab a piece of a Lamborghini or Bentley for less than the cost of a pizza. We’re talking $10 to get started.

Take their latest addition – a mean-looking Lamborghini Urus that’s already proving the concept. Rather than collecting dust in some billionaire’s garage, this beast is out there hustling in places like Dubai, Miami, and Marbella. The best part? You don’t have to worry about oil changes or tire rotations – there’s a whole team handling that boring stuff while you watch the rental income roll in.

The Countdown Begins!

Mark your calendars! $DCARS launch date will be announced on 20.02.2025 at 2 PM UTC!

Secure your tokens before it’s too late ? https://t.co/lFwRRVpuRF pic.twitter.com/vxXujnz4zJ

— Dreamcars (@dreamcars_bsc) February 3, 2025

The Power of Professional Fleet Management

You know those super-connected hotel concierges who can get you into any hot spot in town? Dreamcars runs their car service the same way. These guys don’t just rent cars – they play the luxury market like a finely-tuned instrument. Take Formula 1 weekend in Dubai. That’s when they can name their price for an Aventador – $4,000 a day, and the rich and famous happily pay up.

But what really sets them apart is their little black book of contacts. We’re talking the cream of the crop – luxury hotels where sheiks stay, concierge services that cater to billionaires, and event planners who throw parties for royalty. Every time one of these big shots needs a stunning ride for their A-list clients, that’s more money flowing to investors.

Think about it like a traveling circus of supercars, but way more luxurious. When Miami’s Art Basel kicks off, the flashiest rides head south. When Marbella’s yacht season hits its peak, the perfect vehicles cruise in to meet the demand. It’s a constant dance of supply and high-class demand, orchestrated by people who know the luxury market like the back of their hand.

Understanding the Tiered Earning System

Now let’s talk numbers, but keep it simple. Dreamcars has set up different levels of earning potential, kind of like a frequent flyer program but way more lucrative. Jump in at the entry level with a 2% token lock-up, and you’re looking at up to 20% APY. Ready to go bigger? Premium vehicles kick that up to 20-30% APY with a 5% lock-up. The high rollers who lock up 7% can see returns soaring past 30% APY.

The best part? You get paid in USDT – no funny business with obscure tokens. The whole system runs on smart contracts, which is tech-speak for “everything happens automatically and transparently.” No chasing payments or dealing with paperwork. You can start small and work your way up as you get comfortable with how everything works.

The Technology Behind the Platform

Each car in the Dreamcars family gets its own digital twin – an NFT that holds all the important stuff like serial numbers, service history, and proof it’s the real deal. Every rental, every oil change, every detail gets recorded where everyone can see it. No more wondering if that scratch got fixed or if the maintenance schedule is up to date.

Want to trade your share in a Lamborghini for a piece of a Ferrari? The marketplace makes it as easy as swapping baseball cards (if baseball cards were worth thousands of dollars). This solves one of the biggest headaches in car investing – being able to cash out when you want to.

Building a Sustainable Investment Model

Here’s what sets Dreamcars apart from your typical crypto project – they’re not selling digital dreams, they’re backing their tokens with actual supercars that make real money. While other projects are busy creating the next virtual whatever, Dreamcars has real engines running and real wheels turning.

These cars aren’t just pretty pictures on a website or numbers in a database. They’re out there right now, turning heads and turning profits. Every rental, every maintenance check, every insurance payment – it’s all tracked on the blockchain where anyone can see it. Think of it as having X-ray vision into your investment, seeing exactly how it’s performing and where every dollar goes.

And let’s talk about security for a second. Ever tried to steal a Lamborghini? Good luck with that. These cars are covered by serious insurance and tracked with military-grade precision. Your investment is probably safer in one of these machines than it would be in most other places.

Joining the Dreamcars Revolution

Getting started is easier than parallel parking a Smart car. Just head over to the official Dreamcars website and connect your crypto wallet – they work with both MetaMask and Trust Wallet. Right now during the presale, $DCARS tokens are going for $0.013 each, which is a sweet deal considering they’re expected to list at $0.03.

Got crypto burning a hole in your digital pocket? Whether it’s USDT, ETH, or BNB, that’s your golden ticket into Dreamcars. No complicated hoops to jump through – just grab your tokens and start earning. The minute you’re in, you can start staking and watching those returns roll in, even before the whole thing goes live. After the presale closes, just claim your piece of the action and you’re ready to roll.

Join the Dreamcars Community

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Federal Judge Blocks Musk’s Team from Treasury Payment System Over “Irreparable Harm” Concerns

By

Samuel Nwite

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February 10, 2025

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In a significant legal setback for the Trump administration’s cost-cutting agenda, a federal judge has temporarily restricted Elon Musk’s government efficiency team from accessing a critical Treasury Department payment system.

The judge cited concerns over data security and the potential for “irreparable harm” to millions of Americans who rely on government benefits.

The ruling, issued early Saturday by U.S. District Judge Paul Engelmayer, effectively blocks the Department of Government Efficiency (DOGE) from interfacing with the Treasury’s sensitive payment network, which processes tax refunds, Social Security and disability benefits, and federal employees’ salaries. In addition to revoking access, the court ordered that any information downloaded from the system since January 20 be destroyed immediately.

Engelmayer’s decision was in response to a lawsuit filed by New York Attorney General Letitia James and 18 other state attorneys general, who argued that DOGE’s involvement posed an “unprecedented and dangerous” breach of government security protocols. The legal action comes amid broader resistance to the Trump administration’s aggressive restructuring of the federal workforce and Musk’s expanding influence over government operations.

White House Decries “Judicial Overreach”

The ruling has sparked fierce backlash from the White House, which dismissed the decision as an attempt to obstruct much-needed reforms.

“Grandstanding government efficiency speaks volumes about those who’d rather delay change with legal shenanigans than work with the Trump administration to rid the government of waste, fraud, and abuse,” said White House spokesperson Harrison Fields in a statement to CNN.

The administration has positioned DOGE as a radical attempt to streamline government functions, arguing that its efforts will cut billions in unnecessary spending. However, critics—including lawmakers, unions, and cybersecurity experts—warn that Musk’s team is overstepping legal boundaries by seeking access to critical government infrastructure.

Musk Defends DOGE, Insists Treasury Access Was “Necessary”

Musk, responding to the controversy on social media, defended DOGE’s access to the Treasury system, claiming that the initiative was an agreed-upon measure to improve financial auditing.

“DOGE and the Treasury Department jointly agreed to requirements involving government payments, including that all outgoing government payments have a payment categorization code, which is necessary in order to pass financial audits,” Musk wrote.

“The above super obvious and necessary changes are being implemented by existing, long-time career government employees, not anyone from @DOGE. It is ridiculous that these changes didn’t exist already!” he added.

Despite Musk’s assertion, the attorneys general behind the lawsuit maintain that DOGE’s activities pose significant risks to Americans’ private financial data. Their legal filing argues that Musk’s team, consisting mostly of “special government employees” with limited federal experience, was granted improper access to one of the most sensitive systems in the U.S. government.

Fears Over Potential Payment Disruptions

The battle over DOGE’s access has triggered fears that the administration could use the Treasury system to unilaterally freeze payments, a concern exacerbated by the administration’s broader efforts to restructure federal operations.

“The conduct of DOGE members presents a unique security risk to the States and State residents whose data is held,” the lawsuit alleges, warning that any disruption to the Treasury system could delay vital payments to millions of Americans.

The payment network, which processes transactions for more than 250 federal agencies, plays a central role in the lives of countless individuals, from retirees relying on Social Security to federal workers expecting their salaries. With DOGE’s ambitions extending beyond the Treasury, many fear the administration is moving toward an unprecedented consolidation of control over government financial systems.

DOGE’s activities have become a flashpoint in a larger political and legal battle over the Trump administration’s push to “shrink” the federal government. The initiative, spearheaded by Musk and a team of hand-picked analysts, has sought to disrupt multiple government operations, including workforce management, real estate holdings, and records control.

The Treasury case is just one of several legal challenges facing the administration’s restructuring drive.

On Friday, a separate court ruling temporarily blocked the administration’s attempts to dismantle the U.S. Agency for International Development (USAID). A judge ordered the reinstatement of 500 employees who had been suspended and blocked a plan to place 2,200 others on administrative leave. On Thursday, another judge paused the administration’s “buyout” offer for federal employees, pending further legal review. Earlier rulings had already halted a sweeping federal spending freeze that threatened to cripple government operations.

These legal battles have fueled tensions between the administration and Democratic lawmakers, who accuse Trump and Musk of attempting to consolidate executive power by undermining federal institutions.

“The reckless actions of this administration and its unchecked delegation of authority to unelected billionaires pose an existential threat to the rule of law,” said Senate Majority Leader Chuck Schumer in a statement. “We will not allow Musk to play kingmaker with taxpayer money.”

The next phase of the legal fight is set for February 14, when Engelmayer will preside over a hearing to determine whether the temporary restriction on DOGE’s access should be extended.

Legal analysts suggest that the case could have far-reaching implications, not only for the Trump administration’s restructuring efforts but also for the role of private sector figures like Musk in government operations.

For now, DOGE’s access to the Treasury remains frozen. However, with Musk’s growing influence in Washington and Trump’s determination to push through his agenda, the battle over DOGE’s future is far from over.

Universal Advantages of 1win for All Players

By

TI Partners

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February 10, 2025

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1win has established itself as a platform that caters to the needs of all players, whether they are beginners or professionals. Its universal features, focused on reliability, accessibility, and user satisfaction, ensure a seamless and enjoyable experience for everyone.

Reliability and Security

1win prioritizes the safety and trust of its users, employing top-tier security measures and maintaining transparent operations.

Licensed and Regulated Platform:
Operating under a verified license, 1win ensures legal compliance and adherence to global standards, providing players with a secure and fair environment for gaming and betting.
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The platform uses advanced SSL encryption to safeguard personal and financial information. Players can enjoy peace of mind knowing their data is handled with the utmost care.
Fair Play Guarantee:
With regular audits and the use of certified random number generators (RNGs), 1win guarantees fair outcomes in all its games, creating an environment players can trust.

Accessibility Across All Devices

1win ensures its platform is available to players anytime, anywhere, with its highly accessible design and mobile compatibility.

Mobile Version and Dedicated App:
Whether on Android, iOS, or via the mobile browser, 1win offers a smooth, responsive experience. Players can seamlessly access their favorite games, make bets, and manage accounts on the go.
Gaming Without Boundaries:
The platform’s optimized interface adapts to various screen sizes, providing an equally enjoyable experience on smartphones, tablets, and desktops.

Fast and Reliable Customer Support

1win’s customer support team is available 24/7 to address any player concerns promptly and professionally.

Round-the-Clock Assistance:
Whether it’s a technical issue or a question about bonuses, the support team is always ready to help via live chat, email, or other communication channels.
Focus on Player Comfort:
By prioritizing quick responses and efficient solutions, 1win ensures that every player feels valued and supported throughout their experience.

Why 1win is the Ultimate Choice for All Players

1win stands out as a platform that combines security, accessibility, and user-centric services. Its commitment to providing a safe, fair, and enjoyable experience makes it the ideal choice for players of all preferences and experience levels.

From its robust security measures and mobile compatibility to its 24/7 customer support, 1win offers a comprehensive package that ensures satisfaction for every player. Whether you’re gaming from home or on the move, 1win has you covered!

Why 1win Attracts Players of All Experience Levels

1win has become a go-to platform for gamers and bettors of varying expertise, thanks to its adaptability, inclusivity, and player-focused approach. Whether you’re a newcomer taking your first steps into online gaming or a seasoned professional seeking advanced features, 1win offers tailored opportunities for everyone.

For Beginners: A Smooth Start

1win makes it easy for new players to dive into the world of online gaming without feeling overwhelmed.

User-Friendly Interface:
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Risk-Free Learning:
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Welcome Bonuses:
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For Professionals: Advanced Features and Opportunities

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High-Stakes Options:
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Exclusive Tournaments and Promotions:
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Loyalty programs and VIP accounts offer professionals additional benefits such as cashback, faster withdrawals, and personalized services, enhancing their overall experience.

A Platform for Everyone: Inclusivity and Innovation

What sets 1win apart is its ability to bridge the gap between different types of players.

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The platform adapts to the needs of both casual players and professionals, offering tools and options that make gaming enjoyable at every level.
Innovative Solutions:
With cutting-edge technology, mobile compatibility, and 24/7 support, 1win creates a modern environment where anyone can thrive.
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By fostering a sense of inclusion and offering a variety of games and services, 1win has built a loyal and diverse player base.

Why 1win Stands Out for All Players

1win’s success lies in its understanding of the diverse needs of its users. By providing tailored experiences, robust features, and unmatched convenience, the platform ensures that both new and experienced players feel right at home.

No matter your skill level, 1win offers the tools, opportunities, and support needed to enjoy a rewarding gaming journey. Join today and see why players from all walks of life choose 1win!

Conclusion: 1win – A Platform for Every Player

1win has carved a unique niche in the online gaming and betting industry by creating an environment that caters to players of all experience levels. From beginners looking for an easy and risk-free start to seasoned professionals seeking advanced features and high-stakes opportunities, 1win has something for everyone.

For newcomers, the platform provides a user-friendly interface, free demo games, and generous welcome bonuses, ensuring their journey begins with ease and excitement. With clear navigation and learning opportunities, even those new to gaming can quickly gain confidence and explore the wide range of options available.

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What truly sets 1win apart is its universal appeal. It combines innovative technology, reliable security, and round-the-clock support to create a seamless and enjoyable experience for all users. The platform’s commitment to accessibility through mobile apps and responsive design further enhances its reputation as a modern and player-focused solution.

Whether you’re here for casual fun or serious gameplay, 1win ensures that every moment is rewarding and secure. Join the growing community of players who trust 1win as their ultimate gaming and betting destination. It’s more than a platform—it’s a place where every player can thrive.