Сәлеметсіз бе,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- Digital lenders face ₦100M fines under new rules
- Neibar wants you to give, not sell
- Nedbank acquires iKhokha in $93.3M fintech deal
Digital lenders face ₦100M fines under new rules
Digital lenders in Nigeria are facing much tougher rules, and the penalties now have a serious bite. Under new regulations from the Federal Competition and Consumer Protection Commission (FCCPC), companies reportedly caught engaging in unethical practices could be fined up to ₦100 million or 1% of their annual turnover, whichever is higher. Individuals could face ₦50 million fines, and directors risk sanctions lasting as long as five years.
The Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations, 2025, released in July, are the FCCPC’s strongest move yet to clean up the country’s $2.1 billion consumer lending space. It replaces ad-hoc crackdowns — like app delistings and office raids — with clear, standard penalties. The message is clear: digital lending is no longer the Wild West, and operators will be treated like serious players in Nigeria’s financial system.
These rules don’t just target bad behaviour like harassing borrowers and their contacts. They also impose strict licensing fees, caps on app ownership, annual levies, and new compliance requirements. Airtime lending, which helped power MTN’s ₦83.19 billion fintech revenue in H1 2025, now falls squarely under the FCCPC’s watch. Only microfinance banks are exempt, and even they must apply for a waiver.
Operators must prove they treat customers fairly; no unsolicited marketing, clear disclosure of fees, and only lending to people who can repay. The FCCPC will also monitor interest rates to ensure they’re not “exploitative and inimical to consumer interest.” Data protection laws apply too, and companies must be ready to hand over records within 48 hours of request.
Existing lenders — 461 as of early August — have 90 days to comply. Approvals will expire after three years and cost up to ₦1 million, covering only two apps, with extras costing ₦500,000 each. Annual renewals and biannual reporting are now mandatory, and a ₦500,000 yearly levy is in place.
Neibar wants you to give, not sell
What if your old blender, that stack of books you’ll never read again, or last semester’s exam papers didn’t end up in a dusty corner or worse, the landfill? That’s exactly the thinking behind Neibar, a new social platform that lets people in sub-Saharan Africa give away items they no longer need, completely free.
It’s a timely idea. The region generated 174 million tonnes of household solid waste in 2016, and that figure is set to jump nearly 40% to 244 million tonnes by 2025. Despite 70–80% of this waste being recyclable, only about 4% actually gets recycled. Roland Namwanza, a software developer, decided it was time to do something about the waste-and-need paradox he saw in his community.
Instead of another buy-and-sell marketplace, Namwanza built Neibar around the idea of giving without expecting anything in return. “We saw quite several useful items going unused while people nearby were struggling to get what they needed,” he told Techpoint Africa. “This felt like the right moment to create something that ensures everything is put to good use.”
The Android-only app, launched publicly in July 2025, lets users list items from clothing, electronics, and groceries to office supplies, books, and even university past exam papers. Once something is posted, nearby users get an email alert and can reserve it on a first-come, first-served basis. A built-in chat tool helps arrange a safe public meet-up for the exchange.
While users can swap items if they want, Neibar’s ethos is pure giving. To keep it fair, there’s a two-items-per-day limit so no one can hoard goods for resale. “We want equal distribution of resources,” Namwanza explains. “This way, everyone gets a chance.
”From past papers helping first-year students to furniture finding new homes, the platform has already seen 25 successful giveaways. For more on how Neibar is building a community around generosity and tackling Africa’s waste challenge one item at a time, check out Sarah’s latest for Techpoint Africa.
Nedbank acquires iKhokha in $93.3M fintech deal
Nedbank is making a bold play in the fintech space, snapping up Durban-based payments startup iKhokha for around R1.65 billion ($93.3 million) in cash. The deal, now in the hands of regulators, is expected to close in the next few months.
iKhokha isn’t losing its identity in the process. The brand and leadership team will stay put, with a management lock-in to keep everyone rowing in the same direction as Nedbank rolls out its SME digital push.
For Nedbank, this is all about turbocharging its digital services for entrepreneurs. “A pivotal moment,” is how Ciko Thomas, the bank’s Group Managing Executive for Personal and Private Banking, put it, pointing to iKhokha’s tech as a perfect fit for Nedbank’s financial muscle.
iKhokha’s CEO and co-founder, Matt Putman, is equally upbeat. For him, the acquisition means more firepower to innovate and bring even more value to the merchants already using the platform. And it’s a big payday for the company’s long-time backers — Apis Partners, Crossfin Holdings, and the International Finance Corporation — who are cashing out after years of fuelling its growth.
Founded in 2012, iKhokha has grown into one of South Africa’s leading payment providers, offering mobile PoS devices, a card payment app, and business management tools. It processes more than R20 billion ($1.1 billion) in payments each year and has handed out over R3 billion ($169.7 million) in working capital to SMEs.
The acquisition speaks to a bigger trend: banks teaming up with fintechs instead of competing with them. For Nedbank, this is not just a buyout; it’s a way to future-proof its business in a digital-first world. For iKhokha, it’s a ticket to scale faster and reach more entrepreneurs than ever.
In case you missed it
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What I’m watching
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Opportunities
- MTN Nigeria has kicked off its 12-week Cloud Accelerator, designed to give African growth-stage startups a boost with funding, mentorship, and cloud infrastructure. Applications are open until tomorrow, August 15, 2025. Apply here.
- Want to attend an evening of connection, conversation, and insight on how data is shaping East Africa’s creative economy? Join Communiqué on Thursday, August 21 at 6pm at Alliance Française, Nairobi, featuring Brian Kimanzi, Mars Maasai (HEVA Fund), Ezy Onyango (PAIPEC-CCI), Wangui Njoroge and more. Register here.
- Moniepoint is hiring for several positions. Apply here.
- Lagos Business School is looking for an Instructional Designer. Apply here.
- Max Drive is hiring a Facility/ Administrative officer. Apply here.
- Moove is looking for a Maintenance Executive. Apply here.
- Glovo is looking to fill several roles. Apply here.
- Businessfront, the parent company of Techpoint Africa, is looking for a Researcher and Scriptwriter Intern for Businessfront TV. Apply here.
- Building a startup can feel isolating, but with Equity Merchants CommunityConnect, you can network with fellow founders, experts, and investors, gaining valuable insights and exclusive resources to help you grow your business. Click here to join.
- Help us make Techpoint better for you! Your feedback shapes what comes next (your responses may potentially save my job. A bit dramatic, but still). It will only take 30 seconds to tell us what works and what doesn’t. Fill it here.
- To pitch your startup or product to a live audience, check out this link.
- Have any fresh products you’d like us to start selling? Check out this link here.
- Follow Techpoint Africa’s WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a superb Thursday!
Victoria Fakiya for Techpoint Africa.
