
Nigerian Logistics Startup Renda Secures $1.9 Million Pre-Seed Funding
Renda, a Nigerian logistics startup tackling order fulfilment challenges, has secured $1.9 million in pre-seed funding.
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The African Development Bank Group (AfDB) and the United Nations Development Programme (UNDP) have announced a major new plan aimed at expanding the use of artificial intelligence (AI) across Africa to foster inclusive economic growth and create jobs.
The initiative, known as the AI 10 Billion Initiative, was unveiled at the Nairobi AI Forum 2026 held from February 9-10 in Kenya, where leaders from governments, the technology sector, investors and development partners gathered to discuss the future of AI on the continent.
The initiative is a joint effort between the Bank Group, UNDP and private sector partners designed to raise upto US $10 billion by 2035.
According to organizers, the funds will support targeted investments that strengthen the foundations for AI adoption, including entrepreneurship, data infrastructure, skills development and supportive policy frameworks, with the goal of generating up to 40 million new jobs across Africa by 2035.
Officials described the plan as a response to themes highlighted throughout the Nairobi AI Forum, where participants emphasized the importance of building AI systems that are trustworthy, locally relevant, and supportive of broad-based development outcomes.
The forum underscored the need for interoperable data systems, ethical governance standards, workforce upskilling and partnerships that link investors with innovators.
The AI 10 Billion Initiative draws on the African Development Bank’s June 2025 report, “Africa’s AI Productivity Gain: Pathways to Labor Efficiency, Economic Growth and Inclusive Transformation,” which outlines a phased approach to preparing African economies for AI.
The strategy highlights five critical enablers, data, compute capacity, skills, trust and capital, as essential for building AI readiness and ensuring the continent benefits from emerging digital opportunities.
At the launch, Nicholas Williams, Manager of the Bank Group’s ICT Operations Division, said the Bank is using its position as a leading multilateral development institution to make sure Africa participates fully in the AI era.
He noted that the initiative will help strengthen ecosystems that support AI entrepreneurs, expand data infrastructure and promote inclusive growth across diverse sectors.
Jean-Luc Stalon, UNDP’s Resident Representative in Kenya, highlighted UNDP’s role in building practical partnerships with the private sector that can turn AI potential into real job creation and improved livelihoods in communities.
The AfDB estimates that wider adoption of AI technologies could contribute as much as US $1 trillion to Africa’s gross domestic product by 2035, through improved productivity, new industries and expanded digital economies.
Over the next 10 months, the Bank plans a series of engagements with governments, investors and development partners to secure commitments, build alliances and turn the AI 10 Billion Initiative’s goals into tangible projects.

Renda, a Nigerian logistics startup tackling order fulfilment challenges, has secured $1.9 million in pre-seed funding.

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