Can cNGN succeed where eNaira failed?

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January 11, 2024
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2 min read

Today on the Techpoint Africa Podcast, our hosts are back with insights into this week's top stories in Africa's tech ecosystem.

The stories:

  • Consortium postpones the launch of Nigeria’s naira stablecoin, previously set to go live on February 27, 2024 
  • Kuda launches PoS terminals for businesses
  • Fez Deliverylaunches automated storage systems; Fez Safe lockers

So first off, we touch on the news that Glo subscribers in Nigeria may soon be unable to call MTN subscribers in Nigeria due to the former's failure to pay interconnect fees.

This was revealed by the Nigerian Communications Commission (NCC) in a notice that it had partially approved Globacom's disconnection from MTN Nigeria. Glo customers will be able to receive calls but not make calls to MTN after ten days from the date of this notice. So, if you're a Glo subscriber, there might be tough times ahead.

Quickly, we dive into our first major story for the day. The African Stablecoin Consortium (ASC), the entity handling the cNGN project, has postponed its launch previously scheduled for Tuesday, February 27, 2024, to comply with regulations. Discussing the news, Bolu Abiodun shares his insights on what cNGN is, how it differs from eNaira, and his thoughts on the stablecoin's chances of success.

Next up, we look at the moves being made by Nigerian neobank, Kuda, which announced the launch of its Point of Sale (PoS) terminals for businesses after completing a 14-month successful pilot programme.

Chimgozirim Nwokoma breaks down the details of this story while sharing his thoughts on the self-proclaimed Bank of the Free's venture into the merchant acquisition market. Important to note is the fact that Kuda will be competing against well-established fintechs like Moniepoint, OPay, PalmPay, and Paystack.

Our last major story is about the new product launched by Fez Delivery, the Fez Safe Lockers. What are Safe Locker, what are do they do, and how can you get one? Chimgozirim Nwokoma answers these questions while discussing the practical nature of the product and the ease of adoption by the target market.

Oluwanifemi Kolawole then brings to our attention stories that happened while we were away on our much-needed break as we end the episode.

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You can catch up on the conversation on Google PodcastsApple PodcastsSpotifyYouTube, and anywhere you get your podcasts. You can also send your questions and observations to podcast@techpoint.africa or share your thoughts using the hashtag #TechpointAfricaPodcast.


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Think Maleficent, with more than a little touch of Jade West and a sprinkle of Sponge Bob SquarePants and you've got me. You can follow my sparsely updated adventures on Twitter @WestsidePOV.
Think Maleficent, with more than a little touch of Jade West and a sprinkle of Sponge Bob SquarePants and you've got me. You can follow my sparsely updated adventures on Twitter @WestsidePOV.
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Think Maleficent, with more than a little touch of Jade West and a sprinkle of Sponge Bob SquarePants and you've got me. You can follow my sparsely updated adventures on Twitter @WestsidePOV.

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