Chimgozirim Nwokoma

JumiaPay records a 37.8% decline in transactions but Jumia's gross profit grows by 5%

Jumia has released its Q1 2023 earnings report, showing a 37.8% decline in the number of transactions completed using JumiaPay. However, its operating losses also fell as the company continues its push for profitability.

Chimgozirim Nwokoma

5 days ago

Fintech

TymeBank's parent company gets $77.8 million to drive its South African and Asian expansion plans

With more than 7 million customers in South Africa, Tyme has raised $77.8 million, which it plans to use for expansion across Southeast Asia and South Africa.

Chimgozirim Nwokoma

5 days ago

Fintech

Ongoing USSD disputes threaten to exclude 17 Million Nigerians from banking services

The dispute between commercial banks and telcos in Nigeria has taken a new turn after telcos received approval to cut off access to banks. However, such a move risks alienating the over ten million Nigerians who do not have smartphones but own bank accounts.

Chimgozirim Nwokoma

5 days ago

Telecoms

Why the Nigerian Communications Commission is pushing for harmonised short codes

The unified USSD codes for network providers have come into effect today. Here are all the codes, the services they can be used for, and why the NCC wants a harmonised short code system.

Chimgozirim Nwokoma

1 week ago

Startups

Inside Unyte's ambitious plan to provide insurance for all Nigerians

Less than 1% of Nigerians own any form of insurance, but Unyte, a newly launched insurtech startup wants to significantly increase this percentage. Having locked down partnerships with major insurance providers, it believes that it can drive insurance by improving acces...

Chimgozirim Nwokoma

1 week ago

Equity Merchants

WellaHealth CEO shares insights on growing with venture capital, closing the gender funding gap, and the need for patient capital

Ikpeme Neto did not always want to be an entrepreneur but starting a business was a great way to extend his impact. In this article, he shares tips for founders seeking venture capital and how to close the gender funding gap.

Chimgozirim Nwokoma

2 weeks ago

edtech

Sim Shagaya's Miva Open University gets licence to operate online university in Nigeria

Miva Open University has received an open learning licence to operate an online university in Nigeria. Courses on offer include Cyber Security, Data Science, and Software Engineering.

Chimgozirim Nwokoma

2 weeks ago

Fintech

Report: By 2030, Africa will be fintech's fastest-growing region

Fintech startups have come to represent the innovation that's taking place in Africa's startup space. A new report by the Boston Consulting Group and QED Investors expects the region to be fintech's fastest growing this decade.

Chimgozirim Nwokoma

2 weeks ago

Startups

Gricd rebrands to Figorr, raises $1.5 million seed funding to help insure perishable goods

More than 30% of agricultural produce in Nigeria is lost to poor storage facilities. Gricd, a startup that provides Internet of Things technology for storage facilities, has raised $1.5 million to expand its team and improve its product. It is also changing its name to ...

Chimgozirim Nwokoma

2 weeks ago

Governance & Policy

Will your BVN expire? CBN says no, but a now-deleted/restricted page says otherwise

After reports surfaced about the ten-year expiry date for BVNs, the CBN has come out to deny them. However, a search of the CBN's BVN FAQ page confirms the existence of a document stating that BVNs will expire after ten years.

Chimgozirim Nwokoma

2 weeks ago

Fintech

Are local card schemes the lifeline for Africa's virtual card startups?

As virtual dollar cards have become a popular means of international payments, African card issuers have struggled with chargeback fraud and declined transactions. This has led to calls for a local card scheme, a solution several experts disagree with.

Chimgozirim Nwokoma

2 weeks ago

Governance & Policy

Why Kenya wants to tax content creators and influencers

The Kenyan Revenue Authority has indicated an interest in taxing content creators in amendments made to the Finance Bill. Should the amendments be approved by President William Ruto, content creators will pay a 15% withholding tax.

Chimgozirim Nwokoma

3 weeks ago

Startups

Why did Treepz ditch bus-hailing for car-sharing after a $4.5M cash injection?

Treepz was founded in 2019 as a bus-hailing startup. After expanding to three African countries, it has launched a car-sharing service. Still, questions remain over its business model.

Chimgozirim Nwokoma

3 weeks ago

Fintech

Chargebacks, insufficient funds: Why Nigerian fintech startups are struggling with virtual cards

Low transaction limits drove the adoption of virtual dollar cards. Now chargeback fraud and declined transactions threaten their continued usage.

Chimgozirim Nwokoma

3 weeks ago

Equity Merchants

"Founders should interview investors as much as the investors do" — Victor Kareem, Executive Director, Lagos Angel Network

Victor Kareem is the Executive Director at Lagos Angel Network where he leads its day-to-day activities. In this article, he shares tips for founders to choose the right investors and why venture capitalists differ from angel investors.

Chimgozirim Nwokoma

3 weeks ago

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