Bolu Abiodun

Rwazi raises $4 million seed to provide businesses with accurate market intelligence on Africa and other emerging markets

Market intelligence startup Rwazi has raised $4 million seed. The startup plans to use the funding to expand into more markets and launch new products

Bolu Abiodun

4 days ago

Startups

Nigeria’s Ventures Platform leads $2.5m seed round in Dubai-based embedded finance startup, Credable

Embedded finance platform Credable has raised $2.5 million to provide financial services to businesses in emerging markets. The startup wants to use the funding to expand into bigger markets — Nigeria and Pakistan.

Bolu Abiodun

1 week ago

People

Building custom PCs might not be common in Nigeria, but here’s how Fope Davies made ₦252m from it in 2022

Fope Davies went from selling laptops to repairing and then making them. He dreams of building the next Dell or Apple, and although ₦252m generated in 2022 is a long way from that, he might as well be on his way.

Bolu Abiodun

2 weeks ago

Startups

Dream VC launches its third talent accelerator programme to train Africans aspiring to be startup investors and VC professionals

Dream VC has launched the 2023 cohort of its VC and investor training programme. The programme is for those interested in working with VC firms or learning to become an investor. Launch into VC (LIVC) will run for three months — June 2023 to August — while investor ...

Bolu Abiodun

2 weeks ago

Startups

Naspers shuts down its $77m investment fund, Foundry, the largest in South Africa

Naspers has shut down its South Africa-focused technology investment fund, Foundry. The fund valued at R1.4 billion ($77 million) has only been deployed halfway — R740 million $40 million. Naspers will, however, maintain the investment it has already made in startups....

Bolu Abiodun

2 weeks ago

Governance & Policy

“They are all legal tender.” CBN spokesperson encourages Nigerians to accept old naira notes

Isa Abdulmumin, the Central Bank of Nigeria's (CBN) Acting Director, Public Communications Department, has said the old and new naira notes are now legal tenders. Although the CBN is yet to issue a statement, Abdulmumin assures Nigerians that they can start spending old...

Bolu Abiodun

3 weeks ago

Fintech

Hackers steal ₦2.9 billion from Flutterwave accounts, motion granted to freeze accounts connected with stolen funds

In early February 2023, hackers transferred over ₦2.9 billion from Flutterwave accounts. While police investigations are ongoing, Flutterwave is seeking to freeze accounts where some of the money was transferred. A motion to freeze accounts in 27 financial institution...

Bolu Abiodun

3 weeks ago

Insights

Even with zero charges and speedy transfers, Nigerians are not using the eNaira. Here’s why

In my search for an alternative to cash and unreliable digital transactions, I turned to the eNaira. Its seamless onboarding process and zero transfer charges make it a great alternative. However, Nigerians don't care about it. Here's why.

Bolu Abiodun

4 weeks ago

Finance

I tried going cashless for 24 hours in Lagos. Here’s what happened

Depending on who you ask, the scarcity of cash in Nigeria is causing a lot of hardship. I experienced this hardship first-hand in an attempt to survive a day in Lagos without cash, and here's how it went.

Bolu Abiodun

1 month ago

Startups

Bolt lays off 17 of its 70 workers in Nigeria to restructure its operations in the country

Ride-haling platform Bolt has laid off 17 of 70 employees in Nigeria. The layoff reportedly affected mostly junior and mid-senior employees of the company's Nigerian operations. Bolt told affected employees that the layoff was due to the restructuring of operations in N...

Bolu Abiodun

1 month ago

Startups

Jumba, a Kenyan startup easing the procurement of construction materials, secures $4.5m seed

Jumba, a Kenyan marketplace for construction materials, has closed a $4.5 million seed round

Bolu Abiodun

1 month ago

Startups

CcHub to support 72 startups in Nigeria and Kenya with $15m edtech accelerator programme

Bolu Abiodun

1 month ago

Education

Akowe wants to put Nigerian certificates on the blockchain, and here’s how it will work

A startup called Akowe wants to put Nigerian certificates on the blockchain, but how will it find a way around the bureaucracies that come with public institutions in Nigeria? Let's find out.

Bolu Abiodun

1 month ago

Fintech

What is Banking as a Service, and how does it work?

As the financial services space evolves, more concepts are being embraced. One of them is Banking as a Service. Although not entirely new, it is gaining popularity as technology advances and customer preferences change.

Bolu Abiodun

1 month ago

Startups

African identity verification and KYC provider Smile Identity raises $20m Series B

Smile Identity raises $20m Series B to increase its engineering and product team

Bolu Abiodun

1 month ago

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