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African startups invited to pitch for $1m “Future of Capitalism” challenge

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Organizers of the annual “Future of Capitalism” competition have invited African startups to pitch for the 2024 edition which carries a $1m prize tag.

In a press release issued by the competition’s founder, Leo Lion, the “Future of Capitalism” competition “allows founders to accelerate their startups with an investment of up to $1 million.”

The global startup competition is looking for innovative tech that will help businesses work smarter, the release said.

The release said the Leo Lion Foundation is committed to using business success and commercial acumen as a platform to support social projects across the world.

A statement posted on the website of the Leo Lion Foundation said:

“Do you want to realise your ambitions and use your business success to make a difference? The Future of Capitalism Tech Startup Competition is the right choice for you.

“The competition aims to invest in tech startups that want to make both a commercial and a social impact.

“Either by using business profits to support social causes or through providing a technology that could positively impact the people’s lives.

“​The “Future of Capitalism” competition is on the lookout for tech startups that will transform how businesses operate, and founders who want to improve the world we live in.

“If your technology can transform how businesses operate – from improving productivity, security, logistics or sustainability to streamlining financial processes and enhancing customer experience, or perhaps something else – then this is the competition for you.”

Applications for the competition are now open and will close on Monday, September 30, 2024.

Eight shortlisted finalists will be invited to London for the chance to pitch their innovation in front of a prestigious panel of judges, including tech investment professionals, experienced entrepreneurs and angel investors, the statement said.

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Ghana partners with The Gambia to provide free roaming services

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Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

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Tanzania to host 6th Ocean Innovation Africa summit in February

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Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.

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