Byte Trend

This should be trending

https://www.threads.com/.ai/post/DYhfmrugotL?xmt=AQG0PtH9h6v52vDxEDBEFCHer4PVx5m4AbsI2-LdogyhGsuLRuYGgdZ_5dZSRZD_LVSPflmB&slof=1

Ukachi Benita | Web 3 + AI (@bigbeni.ai) on Threads • Used AI to build automated fish pond monitoring system #ai #google #gemma4 #fish #farm

Africa Finance Corporation Approves US$100 Million Commitment to Africa-Focused Technology Funds

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today announced that its Board has approved a commitment of up to US$100 million to invest in Africa-focused technology fund managers.

The launch comes at a pivotal moment for Africa. The continent’s digital economy is projected to contribute over US$700 billion to GDP by 2050, driven by a fast-growing, digitally connected population and accelerating enterprise adoption of technology. Yet despite this momentum, a persistent gap in long-term institutional capital continues to constrain the development and scaling of high-potential technology businesses across the continent.

Through this commitment, AFC will deploy catalytic capital in leading Africa-focused technology Funds and in particular African-owned fund managers. In doing so, AFC aims to address the underrepresentation of local capital in venture funding by catalysing greater participation from African institutional investors and deepening local ownership within the ecosystem.

Africa’s venture capital ecosystem has demonstrated real potential – the continent has produced nine unicorns, some of its leading fund managers have generated returns of up to 128 times the capital originally invested, and African start-ups raised US$3.8 billion in 2025 alone. Yet local institutional capital remains significantly underrepresented across many fund cap tables, with the majority of venture funding continuing to flow from international sources. AFC’s commitment is designed to shift that dynamic.

“Across the continent, young Africans are not waiting for the digital economy to arrive; they are seizing the moment — adopting technology, creating markets and solving real economic problems faster than infrastructure has kept pace. That is the investment signal. AFC’s US$100 million Africa-focused Technology Fund will accelerate the convergence of growing demand, rapid technology adoption, youthful demographics and the enabling infrastructure we are building. Digital infrastructure is now as fundamental to Africa’s transformation as roads, rail, ports and power — enabling productivity, payments, logistics, services, data and cross-border trade, while creating jobs and industrial scale.”

– Samaila Zubairu, President and CEO, AFC

As part of the initial deployment, AFC has made anchor commitments to Lightrock Africa Fund II and Future Africa Fund III, positioning the Corporation across the full innovation lifecycle – from early-stage venture capital through to growth-stage scaling. These initial commitments represent the first tranche of a broader deployment, with AFC actively evaluating a pipeline of additional Africa-focused funds spanning a range of strategies and stages, with further commitments expected in the near term.

Africa Finance Corporation Approves US$100 Million Commitment to Africa-Focused Technology Funds - TechAfrica News Through this commitment, AFC will deploy catalytic capital in leading Africa-focused technology Funds and in particular African-owned fund managers.

Elon Musk waited too long to sue OpenAI and its leaders, a jury in Oakland, California, decided on Monday. A lawsuit he filed was barred by the statute of limitations, the jury found after about 90 minutes of deliberation.

Their verdict was advisory, but Judge Yvonne Gonzalez Rogers said she agrees with the jury.

“The court now confirms the prior indication that it would accept the jury’s findings as its own,” Rogers said.

“I think that there’s a substantial amount of evidence to support the jury’s finding, which is why I was prepared to dismiss on the spot,” she added in court on Monday.

Musk helped cofound and fund OpenAI, giving $38 million in its early years. He sued CEO Sam Altman, company president Greg Brockman, and OpenAI in February 2024, alleging that they “stole a charity” and unjustly enriched themselves when they shifted to a structure that includes a for-profit arm.

“I was a fool,” Musk told the court earlier this month. “I gave them free funding to create a startup.”

Musk’s case threatened to derail the ChatGPT maker as it plans what could be a blockbuster IPO. The jury’s decision is a win for OpenAI and its founders, Altman and Brockman.

Musk loses case against OpenAI | CNN Business Elon Musk waited too long to sue OpenAI and its leaders, a jury in Oakland, California, decided on Monday. A lawsuit he filed was barred by the statute of limitations, the jury found after about 90 minutes of deliberation.

Celebrity Agency script - with full installation support send a DM to purchase

🚀 **Learn. Grow. Succeed.**
At Qwik Submit, we bring you expert-led courses in tech, fashion, business & more. Your journey to success starts here!

**Upgrade Your Skills. Upgrade Your Life.**
Join Qwik Submit today and explore courses that help you stand out in tech, fashion, business, and beyond!