This week on the Techpoint Africa Podcast, we see fintech startups dominating the news. From exposed in-house frauds to layoffs to rebranding and ambitious dreams, our hosts have somethings to say about the news coming out of the African tech space this week
First off, our hosts dive into the Kippa story. The Nigerian bookkeeping and finance startup, lost ₦30 million to internal fraud connected to Kippa Pay, its agency banking product. This news comes on the heels of the company shutting down Kippa Pay and laying off 40 employees.
And though a senior manager of the company, who has now been released, was arrested in relation to the matter, the company decided against paying those employees the severance packages it promised via email when the layoffs were announced.
Bolu Abiodun shares more insights and details on the story, with Oluwanifemi Kolawole and Chimgozirim Nwokoma chipping in interesting nuggets.
Next is news that saw mixed responses from the African tech ecosystem. Iyinoluwa Aboyeji, former Andela and Flutterwave Founder, has teamed up with Mia von Koschitzky-Kimani to launch Accelerate Africa.
Aboyeji and his co-founder are looking to make it the YCombinator of Africa.
Chimgozirim Nwokoma, while sharing the miniscule details of the story, does not hesitate to share his scepticism about the ambiguity surrounding the accelerator's nature, perks, and plans.
Last is Access Corp's move into the fintech industry by rebranding its Quickbucks to Oxygen X, a lending app, in the hopes of creating a rival to OPay and Carbon's lending products.
The hosts discuss the potential success of loan recovery for the company, especially as it looks to open operations to customers outside Access Bank.
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