FG announces N100M AI fund for Nigerian startups

The National Centre for Artificial Intelligence and Robotics, NCAIR, has launched a N100 million AI Fund in collaboration with Google.

Google Opens N75m Hustle Academy Fund For Nigerian SMBs

Google on Thursday called for applications for the Hustle Academy SMB Fund, a N75 million equity-free fund dedicated to the Nigerian Small and Medium Businesses (SMBs). Head, Brand and Reputation, Sub Saharan Africa, Google, Mojolaoluwa Aderemi-Makinde, said in a statement, that the initiative would offer N5,000,000 to 15 Nigerian small business owners. Aderemi-Makinde said that this initiative cemented Google’s unwavering commitment to cultivating entrepreneurial growth in Nigeria. She said that SMBs formed the backbone of Nigeria’s economy but consistently grapple with challenges, notably the perennial obstacle of securing vital funding. Aderemi-Makinde said that according to the World Bank, African SMBs faced a staggering finance gap of $330 billion. She said that additionally, only 25 per cent of SMBs in Africa had access to bank loans, a percentage that sharply contrasted the 50 per cent observed in developed economies. ‘’Hustle Academy Fund is a testament to the resilience and innovation of Nigerian small businesses, which are the backbone of our economy. ‘’We are hopeful that this fund will further empower them to succeed and drive economic growth, creating jobs and opportunities for all Nigerians,’’ she said. According to her, Google’s Hustle Academy, introduced in 2022, provides SMEs with business and management education, mentoring, and networking, with a particular emphasis on preparing them to package their businesses. Aderemi-Makinde said that it was in order to raise the necessary capital to take their businesses to the next level. She said that since its inception, the programme had graduated over 4,000 SMBs in Nigeria, with a notable 74 per cent  from the first-year reporting marked business growth. According to her, the fund earmarks a N75 million pool exclusively for Nigeria to support 15 investor-ready SMBs through non-dilutive funding. She said that this commitment was further enriched with tailored mentorship, ensuring these businesses were primed for success. Also speaking, Product Marketing Manager and the Hustle Academy Programme Lead at Google, Sinmisola Nojimu-Yusuf, said that the Hustle Academy Fund provided SMBs with the resources and support they needed to succeed. Nojimu-Yusuf said: ”Wth equity-free funding, mentorship, and opportunities for increased visibility and networking, we are supporting SMBs to grow and thrive.” She said that Google  was committed to supporting the Nigerian entrepreneurial ecosystem, and the fund was a key part of that commitment. According  to her, to be eligible for the Hustle Academy SMB Fund, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. She said that SMBs should have a track record of commitment to growth, operate in sectors aligned with the digital economy or have a digital enablement strategy. According to her, previous participation in the Hustle Academy programme is an added advantage. Nojimu-Yusuf said that applications for the fund would open on Tuesday and close on October 12th. She said that detailed insights into the fund and application procedures are on ‘google/hustleacademyfund’. Google’s mission is to organise the world’s information, make it universally accessible and useful. 

Google to update personal information control tool

Google has announced plans to update its personal information control tool to allow users to keep track of their contact information in search. It stated that last year, it launched the ‘results about you’ tool to allow people to request the removal of search results that contain their personal phone number, home address, or email, from Search. It noted that it had now updated and improved the tool, helping users keep track of their personal contact information in Search and alerting them when it is found so that they can remove it. In a statement, the firm said, “In the coming days, we’ll be rolling out a new dashboard that will let you know if web results with your contact information are showing up on Search. “Then, you can quickly request the removal of those results from Google — right in the tool. We’ll also notify you when new results from the web containing your contact info pop up in Search, to give you added peace of mind.” According to Google, the tool is currently available in the United States and will be rolled out globally soon. Also, the firm announced that its SafeSearch blurring setting, which allows, and protects family members from encountering explicit imagery on Search, will be rolled out to users globally next month. It stated that the setting ensures that explicit imagery — such as adult or graphic violent content — will be blurred by default when it appears in Search results. It added, “We have long had policies that enable you to remove non-consensual explicit imagery from Search. Now, we’re building on these protections to enable people to remove from Search any of their personal, explicit images that they no longer wish to be visible in Search.” ends

Infractions: Delist Easynaira, 17 others from Playstore, FCCPC tells Google 

The Federal Competition and Consumer Protection Commission (FCCPC) has asked Google to immediately delete Swiftcash, Easynaira, and 16 other loan apps from the Play Store over regulatory infractions. CEO of the commission, Babatunde Irukere in a statement disclosed that the affected loan apps have been operating on the Google Play store without regulatory approval or in violation of the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending. Other apps to be removed from the Google platform include Getloan, Joy Cash-Loan, Camelloan, Cashlawn, Nairaloan, Eaglecash, Moneytreefinance Made Easy, Luckyloan and Cashme. The removal order also affects Crediting, Swiftkash, Hen Credit loan, Nut loan, Cash door, Cashpal, and Nairaeasy gist loan. Irukera said the Commission would continue to engage with Google to clarify how and why apps that have not received relevant regulatory approvals are available on Google’s platform (Playstore). “Under the Guidelines, only DMLs that have been subjected to regulatory scrutiny and compliance evidenced by written approval from the Commission are allowed on Playstore. The Commission notes that some DMLs have resorted to the use of Android Package Kits (APK) file formats to reach consumers outside of the Google Play store. “This appears to be a device by some of these DMLs to evade or avoid regulatory compliance,” he said. Irukera added that compliance with the Guidelines is mandatory for all DMLs regardless of whether they intend to be placed on Playstore, operate by APK file formats, or any other means for that matter. According to him, failure to comply with the Guidelines is a violation of law and renders any such operation illegal. Meanwhile, the FCCPC boss said all approved digital lenders will now have to revalidate their registration by submitting their information to the Commission. “DMLS operating by any means or on any platforms whatsoever are hereby required to provide evidence of compliance with the Guidelines within five (5) days from the date of this Release. Also, all existing and approved DMLS providing digital lending services through APK file formats in addition to Playstore, are required to provide evidence that such APK operations are in compliance with the law. “All previously approved DMLs or otherwise must revalidate the information provided to the Commission by filling DL Form 01 and resubmit the same,” the Commission said in the statement released on Wednesday. The need for revalidation of registration by the DMLs may not be unconnected with the recent discovery that some of the approved lenders are also engaging in illegal practices of harassing and defaming their customers to recover their debt.

Google’s first West Africa Director Ehimuan bows out

One of the most prominent women in African tech — and Google’s pioneering West Africa Director, Dr. Juliet Ehimuan, has left the company after 12 years. Dr. Juliet Ehimuan, one of the most prominent African women in tech and an instrumental leader in Google’s regional growth, has announced her departure from the company via LinkedIn, stating her intent to take on a broader role within the regional tech landscape. A respected figure in the tech industry and key player in Google’s African initiatives, Ehimuan unveiled plans to collaborate with corporate executives, global investors, African governments and start-up founders to drive growth, excellence and digital transformation within the African tech ecosystem and the broader business landscape. Africa’s tech ecosystem has seen significant interest from global leaders recently – this month alone, Sam Altman of OpenAI, Bill Gates and tech investor Erik Moore were all in Lagos, where they each convened the local tech ecosystem – projecting their interest and positioning themselves as players in Africa. These high-profile engagements underscore the global tech community’s recognition of the wealth of innovation and potential on the continent, the fact of Africa’s place as a destination for investment up and down the tech value chain, and their desire to connect and engage with it.