Nigerian e-commerce startup Alerzo lays off 15% of its workforce

Alerzo, a Nigeria-based B2B e-commerce startup has laid off 15% of its workforce. This is coming seven months after the company downsized its team of 2000 by 5% due to performance-related issues and digitisation of some responsibilities.

BD Insider: A timeline of Nigeria’s 2023 demonetisation policy

Letter 152 examines Nigeria's 2023 demonetisation policy, MFS Africa's plan for cross-border mobile money transfers in Africa and Namibia's residence by investment program.

Flutterwave was not hacked and no user lost any funds, says CEO

Contrary to several media reports, Flutterwave's co-founder and CEO, Olugbenga Agboola says the company's account was not hacked and no users' fund was lost.

Supreme Court says old Naira notes remain legal tender till Dec. 2023

Nigeria's Supreme Court has halted the demonetisation process until December 2023. According to the court ruling, the old ₦200, ₦500 and ₦1000 notes are still legal tender.

Western Union teams up with MFS Africa to enable cross-border mobile money transfers in Africa

MFS Africa has entered into a partnership with Western Union. The partnership will enable funds to be sent from countries around the world to mobile wallets across Africa.

Since 2021, Google has backed 110 African startups through the Black Founders Fund

Black-led startups globally accounted for 0.5% of the venture capital funding in 2020, according to Google. To bridge this gap, the big tech firm launched the Black Founders Fund (BFF) in 2020 across Africa, Europe, South America and North America.

Will Nigeria’s “digital census” be different from INEC’s poor tech?

Nigeria is holding its first digital census this month. This article looks at the failure of Nigeria's most technologically advanced election and what it means for the forthcoming census in the country.

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Flutterwave’s ~$51 million released by Kenyan authorities

Kenyan authorities have unfrozen KSh6.6 billion (~$51 million) belonging to African fintech unicorn, Flutterwave.

Planet42 raises $100M to scale its vehicle rental offering in South Africa and Mexico

South Africa-based mobility startup, Planet42 has raised $100 million in equity and debt funding to scale its operations in South Africa and Mexico

EXPLAINER: Network freeze is not a network shutdown or outage

Some of the campaigns ahead of Nigeria's general elections have been fueled by misinformation. With less than 48 hours to presidential and federal legislators elections, misinformation is at its peak.

Amidst “layoffs for restructuring”, Bolt wants to hire a country manager in Nigeria

In a move to improve its operational processes in Nigeria, ride-hailing company, Bolt has laid off 24% of its workforce in the country.