Business and Brand
Salad Africa and Glovo to launch First-of-Its-Kind SME Financing Program in Nigeria
Salad’s embedded lending infrastructure will enable Glovo to extend financing to qualified Glovo partners in Nigeria.
LAGOS, 24 APRIL, 2025: Salad Africa, a fintech that provides embedded lendinginfrastructure to B2B marketplaces and technology-enabled SMEs, has announced a strategic partnership with Glovo, a leading multi-category app that connects users with businesses and riders in Nigeria. Through this partnership, Salad Africa will power a first-of-its-kind SME financing program designed to provide eligible Glovo partners with access to working capital – at better rates and more accessible terms than traditional banks. The goal is to help businesses scale faster, launch new products, and drive increased revenue – all within the Glovo ecosystem. Qualified partners on the Glovo platform will be able to apply for loans ranging from ₦50,000 to over ₦100 million, with eligibility and credit decisions powered by real-time sales data from the Glovo app. To qualify, merchants must have been active on Glovo for at least three months and meet the set performance and operational criteria. This data-driven approach ensures faster, fairer, and more accurate lending decisions.Once eligible partners are identified, they will receive a notification with Know Your Business (KYB) requirements and application steps. Upon KYB completion and approval, funds will be disbursed directly, with repayments made seamlessly as a percentage of future sales; processed entirely through the Glovo platform. Unlike standard financial institutions, this initiative offers loans without the need for collateral, using real-time sales data from the Glovo app to assess eligibility and creditworthiness. This program falls under the umbrella of Glovo Local, Glovo’s global program dedicated to empowering small and medium-sized businesses (SMEs) to thrive in the digital economy. Through Glovo Local, SMEs who make up 90% of shops and restaurants on the Glovo app across 23 countries, get access to tools and support such as marketing, order management, visibility on the platform, training, and seamless financial support. As the first industry player in Europe, Africa, and Central Asia to support SMEs in this way, Glovo is driving growth, catalyzing local economies, and promoting sustainable, inclusive businesses. The partnership between Glovo and Salad Africa represents a major step forward in supporting small businesses with the resources they need to grow sustainably and efficiently. Commenting on the partnership, Kolawole Adeniyi, Head of Commercial, Glovo Nigeria said, “At Glovo, we’re constantly looking for ways to empower our partners and support their growth journeys. Through this initiative, we’re providing access to much-needed working capital directly within our ecosystem, making it easier and faster for our partners to scale. This partnership with Salad Africa is a game-changer—it ensures our merchants can unlock new opportunities without traditional barriers.” Chikodi Ukaiwe, Chief Executive Officer at Salad Africa said, “Supporting local businesses is at the heart of everything we do at Salad, so we’re thrilled to partner with Glovo to provide small and medium sized restaurants with fast, fit for purpose financing to meet growing demand and scale their operations. Embedded finance is unlocking new channels of credit that simply weren’t available before, and we’re proud to be making access to capital more seamless and timely for Glovo’s network of restaurants.” Glovo is currently the only player in the industry offering this type of financing to SMEs, reinforcing its commitment to being a growth partner for local businesses. By removing the common roadblocks SMEs face in accessing traditional finance, Glovo and Salad Africa are driving financial inclusion, catalyzing local economies, and supporting the digital transition of businesses across Nigeria. Since inception, Salad Africa has recorded $1.5M in credit unlocked value and helped about 1,500 SMEs to scale their business operations sustainably. Salad is on a mission to make financing more accessible for SMBs in Africa. About GlovoGlovo is a pioneering multi-category app that connects users with businesses and couriers, offering on-demand services from local restaurants, grocers, supermarkets, and high-street retail stores. Founded in 2015 in Barcelona, Glovo operates across 23 countries in Europe, Central Asia, and Africa, with a vision to build the largest online marketplace, giving everyone access to anything in their city within minutes.For more information, please visit: https://about.glovoapp.com/ About Salad Africa Salad Africa is an impact-focused fintech startup on a mission to make financing more accessible for SMBs in Africa. Salad provides embedded lending solutions to digital platforms and connects banks and financiers to underserved businesses that leverage technology in their operations.
Business and Brand
MAGGI Strengthens Stakeholder Understanding of Food Quality and Safety Through Immersive Value Chain Engagements
As part of activities marking World Food Safety Day, MAGGI engaged stakeholders across its value chain through a series of immersive experiences designed to deepen understanding of the journey from ingredients to table and reinforce the collective responsibility required to uphold food quality and safety.The engagements brought together suppliers, distributors, consumers, journalists, and digital content creators, reflecting MAGGI’s commitment to transparency and continuous stakeholder engagement. Through interactive sessions and firsthand experiences, participants gained valuable insights into the processes, partnerships, and standards that contribute to delivering quality products to millions of Nigerian households.During the engagements, suppliers explored MAGGI’s quality requirements and manufacturing standards, while distributors were engaged on best practices in product handling, storage, and warehousing to help maintain product quality throughout the distribution chain. Consumers also had the opportunity to interact directly with experts, ask questions, and learn more about the ingredients, processes, and expertise behind MAGGI products.The initiative culminated with a factory experience at Nestlé Nigeria’s Agbara Factory, where journalists and digital content creators followed the journey of a MAGGI cube from locally sourced Soya beans ingredients to finished product. Participants gained deeper insight into how soya beans sourced from Nigerian farmers are transformed through carefully controlled fermentation processes and advanced manufacturing technology to deliver the distinctive taste, quality, and consistency consumers associate with MAGGI.The experience also highlighted the connection between traditional African food preparation methods and modern food manufacturing. Participants explored how fermentation techniques used in MAGGI production draw inspiration from time-honoured practices familiar to many Nigerian consumers through local seasonings such as iru, dawadawa, and ogiri.A key highlight of the visit was the opportunity to observe the rigorous quality assurance and food safety systems embedded throughout the production process. From ingredient sourcing and testing to manufacturing, packaging, and distribution, participants witnessed the extensive standards, continuous monitoring, and scientific expertise that help ensure product quality and food safety at every stage.Speaking on the initiative, Funmi Osineye, Category Manager, Culinary, Nestlé Nigeria, said: “MAGGI reaches millions of consumers through a value chain that includes farmers, suppliers, distributors, retailers, consumers, and many other partners. We believe quality and food safety are shared responsibilities, which is why we continuously engage stakeholders across the value chain to build understanding, strengthen collaboration, and provide greater visibility into the journey behind our products.””By opening our doors and creating opportunities for dialogue, we are helping stakeholders better understand the ingredients, expertise, and processes that contribute to the quality consumers have come to trust from MAGGI.”Also speaking, Talla Fall, Factory Manager, Nestlé Nigeria Agbara Factory, said: “At Nestlé, quality and food safety are embedded into every stage of our operations. From sourcing ingredients and testing raw materials to manufacturing and packaging, our teams work diligently every day to uphold the high standards that consumers expect from MAGGI. These engagements provide an important opportunity to demonstrate the care, expertise, and rigorous processes behind every product.”The programme also featured an interactive cooking session, where participants experienced the practical application of MAGGI products in everyday meal preparation. The session sparked engaging conversations around taste, quality, nutrition, and responsible product use, while allowing participants to experience the products firsthand.Through initiatives such as these, MAGGI continues to foster greater transparency, strengthen stakeholder confidence, and reinforce its commitment to delivering quality products that help consumers prepare tasty and nutritious meals every day.
Business and Brand
Over 21,000 Students Sit for InterswitchSPAK Pre-Qualifying Examinations as National Exams Kick Off Across Nigeria
Lagos, Nigeria – June 11, 2026 – Interswitch, Africa’s leading technology company focused on creating solutions that enable individuals and communities prosper, has announced the commencement of the national pre-qualifying examinations for Season 8 of InterswitchSPAK, its flagship science competition for senior secondary school students across Nigeria. The examination phase began on Tuesday, June 9, 2026, and will run through Tuesday, June 16, 2026, with a total of over 21,000 students nationwide sitting for the examinations. This represents a 19.7 percent increase compared to the over 18,000 registrations recorded in Season 7, underscoring continued nationwide growth and interest in the competition. Now in its eighth season, InterswitchSPAK continues to strengthen its position as one of Nigeria’s leading platforms for identifying and nurturing exceptional Science, Technology, Engineering and Mathematics (STEM) talent at the secondary school level. The national pre-qualifying examinations mark the first stage of a rigorous selection process designed to identify the brightest young minds in STEM across the country. Successful candidates will progress through subsequent stages of the competition, culminating in a televised grand finale where finalists compete for scholarships and prizes worth over ₦40 million. Speaking on the commencement of the examinations, Cherry Eromosele, Executive Vice President, Group Marketing and Communications, Interswitch, expressed delight at the continued growth and participation in the initiative.“The remarkable increase in registrations for Season 8 reflects the growing enthusiasm among young Nigerians for STEM education and innovation. We are encouraged by the confidence students, parents, teachers, and schools continue to place in InterswitchSPAK as a platform for academic excellence and opportunity. As the examinations commence, we look forward to discovering another set of exceptional young talents who will shape the future of science and technology in Nigeria,” said Eromosele. This year’s registration process also introduced an expanded access model, allowing parents and guardians to register their wards directly, alongside the traditional school-based registration approach. This enhancement contributed to broader participation and reinforced Interswitch’s commitment to creating inclusive access to educational opportunities for talented students nationwide. Over the past seven seasons, InterswitchSPAK has continued to deliver impact through scholarships, mentorship, and national recognition for outstanding students, while consistently promoting educational equity and excellence in STEM education. The overall winner of Season 8 will receive a ₦15 million tertiary scholarship, including monthly stipends. The first runner-up will receive a ₦10 million scholarship inclusive of monthly stipends, while the second runner-up will be awarded a ₦5 million scholarship, also including monthly stipends. All scholarships are payable over five years. In addition, all nine finalists will receive brand-new laptops and other exciting prizes. Beyond the top prizes, Season 8 introduces enhanced rewards for finalists placed 4th to 9th, alongside increased recognition for the teachers of students who finish in the top nine. The expanded reward structure further underscores Interswitch’s commitment to celebrating academic excellence and recognising the vital role educators play in nurturing future STEM leaders. Through InterswitchSPAK, Interswitch remains committed to investing in Nigeria’s education ecosystem and empowering the next generation of scientists, engineers, innovators, and problem-solvers who will shape the country’s future and strengthen its global competitiveness. For more information and official updates, visit https://www.interswitchspak.com/ and follow InterswitchSPAK on Instagram, TikTok, Facebook, YouTube, and X.
Business and Brand
Interswitch Partners with Temenos to Scale Digital Banking Services Across Africa
From Left: Santosh Rao, Managing Director, Middle East and Africa (MEA), Temenos, and Mitchell Elegbe, Group Managing Director and Founder, Interswitch Group, at the signing ceremony of a strategic partnership between Interswitch and Temenos to scale digital banking services across Africa, held recently during the Temenos Community Forum (TCF) 2026 in Copenhagen, Denmark.
Interswitch will use Temenos solutions to deliver managed services to banks and financial institutions across Africa Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, andTemenos (SIX: TEMN), a global leader in banking technology, today announced a collaboration, wherein Interswitch will adopt Temenos technology to enhance its digital banking capabilities, supporting its growth and expanding access to modern financial services across the continent.Interswitch will use Temenos solutions – across core banking, digital banking, payments, wealth management and financial crime – to provide cloud-hosted and on-premises managed services to banks and financial institutions across Africa. This will enable institutions to progressively transform their banking platform and evolve to more customer-centric business models. The service will initially support key African markets including Nigeria, Ghana, Côte d’Ivoire, Kenya and others.Jonah Adams, Managing Director for Digital Infrastructure & Managed Services (Systegra) at Interswitch, said: “By adopting Temenos’ cloud-native, composable platform, Interswitch gains the flexibility and scalability to accelerate its next phase of growth and deliver banking services that meet the needs of African markets.This is a pivotal moment for Interswitch as we accelerate our expansion beyond payments and reimagine digital banking for Africa. Our partnership with Temenos is strategic in that it allows us to introduce a highly configurable banking platform that leverages the latest cloud technologies into our technology stack. Temenos delivers on this and brings an unmatched breadth and depth of capability to support our vision and scale our services across the continent.”William Moroney, Chief Revenue Officer, Temenos, commented: “Interswitch is an important new customer and partner for Temenos in Africa. The collaboration underscores the adaptability of our platform to power innovative banking services tailored to the needs of African markets. Interswitch’s strong presence across the continent also extends our reach and further strengthens our ecosystem and partner network.”Widely known for its Quickteller and Verve brands, Interswitch operates in 32 African countries, supporting more than 300 financial institutions. Through Quickteller, its digital payments and services platform, Interswitch has played a significant role in shaping consumer and merchant payments. Verve International, a domestic payment cards and tokens scheme and a subsidiary of Interswitch, recently surpassed 100 million payment cards issued. The business continues to drive innovation in tokenization, reinforcing its position as one of Nigeria’s most widely used payment cards and token platforms.
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