Globally, currencies sometimes experience value fluctuation. However, due to severe economic issues, Nigeria’s naira has incessantly experienced more critical depreciation than subtle fluctuations. This consistent devaluation makes it frustrating to save in naira. Because while you work so hard, you may have to watch your “savings” deplete without spending it. Therefore, it’s understandable for you to

Image Source: iProcure iProcure, a Kenyan agritech startup, has recently secured a $10.2 million Series B financing led by Investisseurs & Partenaires. The funding, structured as debt and equity, will support iProcure’s expansion into Uganda and Tanzania as well as their launch of a credit offering for agro-retailers to purchase supplies on credit. Other participants

Image Source: Omnibiz Omnibiz, a Nigerian B2B e-commerce company, has recently secured a $15 million pre-Series A investment led by Timon Capital. The raise is structured as a $5M equity and $10M debt investment deal and saw participation from Ventures Platform, Lofty Inc, Chapel Hill Denham, Chandaria Capital, and Musha Ventures.  Present in over 12

The South Africa Reserve Bank (SARB)’s Prudential Authority has issued a guidance note to banks for dealing with transactions by crypto asset service providers (CASPs).  In the note signed by the Prudential Authority CEO Fundi Tshazibana, the central bank said that it is aware that certain banks in the country have previously opted to terminate

The transitions and definitions of work systems have significantly evolved over the past few years. Statistics show that the pandemic was an eye-opener for African individuals and organisations. Specifically, the possibilities for tech skill owners to flourish as freelancers rose notably. So, it’s little wonder why freelance platforms are currently prevalent in Nigeria and Africa

Drivers of popular ride-hailing apps Uber and Bolt in Cape Town have suspended their business activities and embarked on a strike to express their discontentment with the ride-hailing ecosystem in the country. The disgruntled drivers have cited low earnings and a slow permit process as major factors behind the strike action.  The drivers began demonstration

Image Source: HerRyde Last Friday, HerRyde, a woman-only ride-hailing company, launched in Abuja. According to the company’s co-founders (CEO Monsurah Oluwafuyi, COO Muhammad Muazu, and Chief Product Officer Kamaldeen Ibrahim), the company is providing a safer option for female drivers and riders while creating work opportunities for more women.  In an exclusive statement made to

Image Source : Lori Systems Lori Systems, an African digital logistics company, has recently secured an undisclosed amount of investment from Google, the third such investment by Google on the continent. The two companies Google had previously invested in as part of its $50 million Africa Investment Fund are SafeBoda and Carry1st. The fund was

Last-mile delivery continues to be an enigma for Nigerian shoppers and businesses. SmartParcel is bringing “smart” postal boxes to the mix. Nigeria’s last-mile challenge begins with sparse postal service distribution. Poor addressing systems in sprawling urban and rural areas and weak transport infrastructure combine to make the last-mile headache terminate in frustrated customers, struggling businesses

South African mobile network operator MTN’s latest financial results showed a solid 14% growth of its fintech business over the first 6 months of 2022. The volume of mobile money transactions increased by 31.5% year-on-year while the value of transactions increased by 11.7%. The company’s active mobile money customers also increased by 24.0% to 60.7

Hytch, a Nigerian ride-hailing startup that launched to the public in May this year to help people share rides and move faster and cheaper, will no longer provide car-pooling services. According to a source who works closely with the startup, the company has aborted its ambitious mission of scaling the highly-fragmented in-city car-pooling transportation sector

South African mobile network operator MTN has announced that it has received a $35 million binding offer from an undisclosed buyer for its Afghanistan business. The completion of the deal will see the company completely phase out its presence in the Middle East region. According to Reuters, in a news call with journalists, MTN Group