As AI’s new course is requiring even bigger quantities of vitality, tech firms have...

South Africa’s digital lender Tyme Group has raised $250 million in a Series D round at a $1.5 billion valuation. With the valuation, Tyme becomes Africa’s ninth unicorn, two months after Nigeria’s Moniepoint hit the billion-dollar threshold. Tyme plans for an initial public offering by the end of 2028. The funding round was led by

The 95,000 employees working in Nigeria’s 24 commercial banks share a common experience: a culture of secrecy around how much they earn. In the banking industry, discussing salaries is not just taboo—it’s almost forbidden. “Salaries in banking are sacred,” said one GTCO employee, who asked to remain anonymous due to company policies “At onboarding, HR

AI’s emissions are about to skyrocket even additional It’s no secret that...

Nigeria’s inflation rate accelerated to a more than 6-month high in November on higher food and transport prices. Data from the National Bureau of Statistics on Monday put November’s inflation rate at 34.60%, up from 33.8% reported in October. The median estimate of five economists in a TechCabal survey was 34.01%. The primary drivers of

Juicyway, a Nigerian cross-border payments startup that helps businesses get FX for international transactions, has raised $3 million in pre-seed funding. The company will use the funding to expand its marketing and business development teams, improve its technology, and scale its business in Nigeria, the US, the UK, and Canada. P1 Ventures led the round

This article was contributed to TechCabal by Uchenna Okpagu.  As AI adoption accelerates globally, Africa finds itself at a crossroads, with both immense potential and significant risks. Whether fine-tuning an existing large language model or training a frontier AI model tailored to the continent, addressing the ethical and societal challenges associated with AI deployment is

Final week, this area was all about OpenAI’s 12 days of shipmas. This...

Nigeria’s Central Bank (CBN) has imposed a ₦150 million fine on deposit money banks and financial institutions caught selling newly minted banknotes to currency hawkers. The details of the fine, contained in a Friday circular seen by TechCabal, come as Nigeria grapples with a prolonged cash shortage that has left customers struggling to access cash

It’s no secret that the present AI increase is utilizing up immense quantities...

Tizeti, a Y Combinator-backed internet service provider operating in Nigeria, Togo, and Ivory Coast, will list on the Nigerian Exchange (NGX) two years after first sharing its ambitions to become a public company. An Initial Public Offering (IPO) will allow Tizeti to raise money from a wider pool of investors at a time when VC

First Bank, Nigeria’s oldest bank, was hit by a massive fraud incident that led to the theft of ₦7 billion from customer accounts by unknown persons, according to one person with direct knowledge of the matter. Three other persons who asked not to be named discussing sensitive company matters confirmed the incident.  The scope and