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In October, the National Bureau of Statistics reported that Nigeria experienced a 31.52% food inflation rate, marking a 7.80% surge from the corresponding period in the previous year.
Bloc Microfinance Bank has been granted an Approval-in-Principle by the Central Bank of Nigeria.
Zazuu, a U.K.-based and Africa-focused fintech startup has shuttered due to its inability to raise additional funding.
From May 2023 until now, the USSD debt of Nigerian banks has surged by 66.67%, reaching a total of ₦200 billion, according to ALTON.
Nigerian fintech startup, Paystack is downsizing its team outside Africa, starting with the layoff of 33 employees in Europe and the UAE, where it has an engineering hub.
The streaming service reveals fresh new brand identity and plans in the build-up to its February 2024 relaunch.
Nigerian fintech startup, Chimoney has acquired Scrim App in an undisclosed deal. As a result of this acquisition, the Scrim App will be relaunched in December 2023.
Enugu-based blockchain startup, Wicrypt has expanded its WiFi-sharing network to China, naming Onega Ventures as the sole distributor.
South African proptech startup, Neighbourgood has acquired Local Knowledge, a Cape Town-based traveltech startup in a cash and equity deal worth $1.5 million.
South African insurtech startup, Pineapple has raised $21.3 million Series B in a round led by Futuregrowth, Talent10 and MIC, with participation from Old Mutual ESD, Lireas Holdings, ASISA ESD Fund and E4E Africa.
The event provided invaluable insights to craft strategies for growth and expansion in the evolving digital landscape.
In October, Nigerian SEC-licensed trust company, DLM Trust announced that it temporarily paused its appointment as an escrow trustee with Patricia to oversee the repayment of $2 million in customers’ assets lost in a hack last year.
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