Johnstone Kpilaakaa

Exclusive: Nigerian startup Cova shuts down

Cova, a Nigerian wealthtech startup that enables users to track their assets in one place, is shutting down.

ID-related fraud issues faced by US fintech mirror Africa’s trends

In 2021, 42% of US Bank Secrecy Act filings focused on identity fraud. Similar challenges exist in Africa, posing a dual obstacle for cross-border payments startups.

Zilla halts BNPL service to focus on cross-border payment

Nigerian fintech startup, Zilla is discontinuing its buy-now-pay-later (BNPL) service to focus on Zillawire, its newly launched cross-border payment.

SafeBoda is returning to Kenyan roads

Ugandan ride-hailing startup, SafeBoda, is set to re-launch in Kenya via Nairobi, the capital city, in February. According to a countdown on its website as of today, January 22, 2024, the ride-hailing service will hit Nairobi roads in the next 13 days—February 4, 2024.

BD Insider 217: Why Iyin Aboyeji wants to build the “YC of Africa”

Prime Video cuts funding and staff in Africa. Still Inside: The launch of Accelerate Africa + Tech VC trends that will shape Africa in 2024.

Nigerian CBN governor Cardoso’s debut MPC meeting scheduled for February

Olayemi Cardoso is scheduled to chair his first monetary policy meeting as the CBN governor in February, as indicated by a tentative calendar released by the Bank.

Amazon Prime cuts funding and staff in Africa

Amazon Prime Video is not exiting Africa and the Middle East, but it is reducing its budget and workforce in both regions. Additionally, the streaming service will pause Original productions.

Five things that made Tyme Bank profitable in 2023

TymeBank, a neobank based in South Africa, attributes its 2023 profitability to five crucial elements, including a distinctive business model, strategic partnerships, lending products, and capital infusion.

UNDP launches $1 billion innovation fund to back African startups

The United Nations Development Programme has launched timbuktoo Initiative, a $1 billion innovation fund to invest in African startups.

Ezdehar invests $10M in Yodawy for a minority stake in the Egyptian healthtech

Ezdehar, an Egyptian firm, invested $10 million in Yodawy, acquiring a minority stake in the health tech. Yodawy serves 35 health companies, 800+ firms, and 3,000 pharmacies, delivering over 6 million prescriptions since 2018.

Vodafone inks $1.5 billion deal with Microsoft to transform user experience in Africa and Europe

Vodafone and Microsoft join forces in a $1.5 billion deal to enhance user experience in Africa and Europe. The deal will also introduce a program to aid 100 million consumers and one million SMEs in Africa.

Nigeria’s security worsens, raising doubts about NIN-SIM linkage

Insecurity lingers in Nigeria, three years after introducing NIN-SIM linkage to address it. Ex-minister blames security operatives for underutilising the platform.