Bolu Abiodun

After 3 million trips, Shuttlers gets $4m investment to grow its shared mobility solution

Nigerian shared mobility platform, Shuttlers, has raised $4 million to grow its solution in Nigeria. The funding round was led by Verod-Kepple Africa Ventures (VKAV). Shuttlers plans to use the funding to increase its market share in the bus-sharing space.

Bolu Abiodun

2 months ago

internet

Starlink might be going from Internet saviour to a nice-to-have

Complaints about Starlink becoming slower have increased on social media. Some have attributed the reduction in speed to too many people using Starlink's limited satellites. However, some users believe more satellites will not solve the problem as satellite Internet wil...

Bolu Abiodun

2 months ago

Startups

How these young founders raised $500k for their fan engagement platform, Rivet

From music to engineering and artificial intelligence, the founders of Rivet come from diverse backgrounds that have played a role in helping them build the fan engagement platform, Rivet. As Gen Z founders, they discuss their building and fundraising process.

Bolu Abiodun

2 months ago

Startups

Goodwell and Oxfam Novib launch Pepea, a $21.7m fund for East African startups

Goodwell and Oxfam Novib have set up Pepea, a $21.7 million fund for East African startups. The fund will be deployed in Kenya, Uganda, and Ethiopia. It will target businesses in sectors representing a large portion of household spending in low-income communities.

Bolu Abiodun

2 months ago

Cryptocurrency

Crypto is rising for the wrong reasons

The crypto market has grown by 40% — $20,000 to $28,000 — between January 15, 2023, and March 24, 2023. Experts attribute recovery efforts by the US Federal Reserves (Feds) to mitigate the effects of recent bank failures as one of the reasons for the rise. However, ...

Bolu Abiodun

2 months ago

Startups

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

2 months 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

2 months 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 months 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

3 months 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

3 months 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 months 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 months 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

3 months 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

3 months 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

3 months ago

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