Justina

Jumia stock rallies 20% on future profit hopes

Jumia’s stock rose 20% Friday after the company reaffirmed its path to profitability by 2027, even as losses widened and revenue fell in Q1 2025.

BREAKING: Airtel Money plans 2026 IPO amid fintech growth push

Airtel Money has been a significant growth driver for Airtel Africa. The service operates in 14 countries across the continent, including key markets like Zambia, Uganda, Tanzania, Malawi, Gabon, and the Democratic Republic of Congo.

Swedfund backs TLG fund with $15 million to strengthen SMEs

Swedfund has invested $15 million in the TLG Africa Growth Impact Fund II to help bridge Africa’s SME financing gap. The fund targets job creation and economic recovery for small and medium-sized businesses, working alongside global partners.

SEC flags unregistered investment schemes by PWAN/PWAN MAX

Nigeria’s SEC has issued a public warning against PWAN and PWAN MAX, calling out their unauthorized capital-raising practices and possible ponzi structure.

Students heave sigh of relief following MTN’s come back to Kogi

MTN Nigeria has resumed full network services across Kogi State after a two-week outage caused by a tax dispute. The return brings major relief to over 1.5 million residents and students at Federal University Lokoja who faced severe academic and communication setbacks.

SEC warns against Tofro.com, flags crypto platform as unregistered and fraudulent

The SEC has warned the public against investing in Tofro.com, calling it an unregistered platform showing signs of a Ponzi scheme, including failed withdrawals and unusually high returns.

May Day strike grounds ride-hailing in Nigeria as drivers demand fairer terms from Uber, Bolt

On Workers’ Day, Nigerian app-based drivers with AUATWON staged a nationwide strike against Uber and Bolt, demanding fare reform, safety, and fair labor terms.

Lagos gets electric tricycle hailing via Bolt

Bolt has launched electric tricycles in Lagos, expanding its green mobility strategy in Nigeria with battery-powered “keke” to reduce emissions and fuel costs.

Kogi students relocate, protests loom over crippling MTN shutdown

MTN’s network shutdown in Kogi State has disrupted education and commerce, forcing student relocations and triggering plans for mass protests over a ₦1.2 billion tax dispute.

Aruwa Capital nears $50M target as it closes $35M for gender-focused fund II

Aruwa Capital Management, a female-led Lagos private equity firm, closes $35M for its gender-lens Fund II and plans to expand investments across Nigeria and Ghana.

OmniRetail raises $20M Series A to scale Africa’s informal retail infrastructure

The company achieved profitability in 2024 and processes over $800M annually.

Lendsqr launches voice, video AI for loan assessments

Lendsqr has developed an AI-powered voice and video analysis model to revolutionize credit scoring for Nigeria’s informal sector, offering a new path to financial inclusion for over 100 million unbanked adults.