Retail-led microfinance bank, FairMoney expands merchant offerings by acquiring PayForce

FairMoney, a Nigerian fintech company has acquired PayForce, a sub-brand of YC-backed CrowdForce in an undisclosed deal.

A list of the harmonised USSD codes in Nigeria

Effective May 17, 2023, all mobile operators are mandated by the Nigerian Communications Commission to migrate from diverse short codes to harmonised codes. We curated a list of the new codes.

Old Naira notes remain legal tender until Dec. 2023, says CBN

The Central Bank of Nigeria says old Naira notes will remain legal tender until December 2023 as ruled by the Supreme Court. This is coming a few hours after President Buhari distanced himself from the bank's non-compliance with the ruling.

Dream VC opens application for its 2023 venture capital fellowship programs

Dream VC, an investor accelerator platform focused on the African tech ecosystem, has today opened up applications for its 2023 venture capital fellowship programs.

Collapsed SVB owns 2% of Chipper Cash, CEO says

In 2021, SVB led a $100 million investment into Chipper Cash, the company's CEO says "SVB owns a very small part of Chipper; [about] 2%."

uLesson is building an online open university named Miva

Nigerian edtech company, uLesson has launched a tertiary education arm, Miva Open University to offer distance e-learning opportunities to Africans.

Andela’s acquisition of Qualified and its evolution since 2014

Andela has acquired Qualified, a technical skills assessment platform, for an undisclosed figure. We examine this acquisition and the company's acquisition.

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.