ສະບາຍດີ,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- MTN revenue jumps 23% as West Africa leads growth
- Startup failure is normal, says Aboyeji
- Lagos, Ogun ride-hailing drivers protest rising fuel costs
MTN revenue jumps 23% as West Africa leads growth
MTN Group reported a strong financial performance for the year ended December 2025, bouncing back from a previous loss and returning to profitability. Service revenue climbed about 23% to roughly R218.5 billion, while profit rebounded significantly after a challenging 2024. Much of that growth came from MTN’s West African operations.
Nigeria was the standout performer. MTN Nigeria recorded about 54.9% growth in service revenue, while MTN Ghana posted around 35.9% growth, making the two markets the biggest contributors to the group’s recovery.
By the end of 2025, MTN said it served more than 307 million voice subscribers, including about 172 million data users and roughly 70 million mobile money customers across 16 markets. Data usage continued to rise rapidly, with overall data traffic increasing by 27% and average monthly consumption per user reaching 12.5GB. These gains were supported by capital expenditure of about R38 billion invested in expanding network capacity and improving service quality.
The company also highlighted significant growth in its fintech ecosystem, particularly through mobile money services. Transaction volumes on its platform increased by 15% during the year to more than 23 billion transactions, while the total value of those transactions exceeded $500 billion. MTN said the expansion of digital payments and financial services remains a key pillar of its strategy to deepen financial inclusion across Africa.
Alongside its operational results, MTN announced an enhanced shareholder remuneration framework, including a share buyback programme of up to R6 billion and a 45% increase in dividends.
Startup failure is normal, says Aboyeji
Startup shutdowns in Africa, from Okra to Edukoya and Zazu, often trigger endless debates about what went wrong. But for Iyin Aboyeji, that reaction misses the point. Speaking at the Africa Deep Tech Conference 2026, the Future Africa co-founder said something many founders and investors struggle to accept: failure is actually the default outcome for most startups.
Victoria Fakiya – Senior Writer
Techpoint Digest
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Aboyeji remarked during a conversation with seasoned tech operator Adia Sowho, where the discussion centred on how deep tech companies in Africa should be funded. Sowho argued that founders need leverage before they walk into any negotiation, whether with investors, partners, or big corporations.
That leverage, she said, can be surprisingly simple: build something people are already willing to pay for. Drawing from her time working at large companies like 9mobile (now T2 Mobile) and MTN Nigeria, Sowho noted that smaller startups rarely get favourable treatment unless they bring real value to the table. “Build something your mother will pay for,” she advised, adding that founders should be able to see clear cash flow before chasing outside funding.
Aboyeji, however, pointed out that deep tech doesn’t always follow the usual startup playbook. Unlike typical consumer apps, deep tech products can take years of research and heavy capital investment before they become commercially viable, meaning early paying customers may not always appear quickly.
Still, both speakers agreed that the ecosystem has deeper issues. Many African startups, Sowho argued, are built without chasing global standards. Instead, founders often focus on quick fixes that simply work for the moment. Changing that mindset, while accepting that failure is part of the process, could shape how the next generation of African startups are built. Find out more in Bolu’s latest story.
Lagos, Ogun ride-hailing drivers protest rising fuel costs
Ride-hailing in parts of Lagos and Ogun, Nigeria, may get a lot quieter this week. Drivers under the Amalgamated Union of App‑based Transporters of Nigeria (AUATON) have begun a three-day strike aimed at forcing ride-hailing platforms to increase fares.
The protest targets major apps, including Uber, Bolt, and inDrive. Drivers say fares on these platforms have remained largely unchanged even as fuel prices, their biggest operating cost, have surged in recent weeks. Other transport operators have already raised their prices, but app drivers say they are still stuck with old rates while also paying commissions and new VAT charges.
For many drivers, the demand is straightforward: raise the fares so they can actually make money from trips. They are also asking for stronger rider verification systems for safety, insurance and welfare packages, an end to unfair driver deactivations, and clearer industry-wide regulations for the e-hailing sector.
So far, the strike appears to be gaining traction. Groups of drivers reportedly gathered in areas like Oshodi-Isolo, Festac, Amuwo-Odofin, Ikeja, and parts of Ogun State, logging out of ride-hailing apps and staging convoy processions. According to union leaders, the goal is to shut down the apps temporarily to draw attention to what they describe as the growing frustration among drivers struggling with rising costs.
For context, AUATON says the strike has been organised with monitoring teams and engagement groups across major hotspots in Lagos and Ogun to ensure compliance. Members are even booking rides through the apps to persuade drivers still working to join the action. As the strike unfolds, many Nigerians are watching closely — some supporting fare increases, others worried about the disruption to commuters.
In case you missed it
- Nigeria to provide up to ₦1 billion ($735,000) in funding for 100 startups through iDICE Startup Bridge
What I’m watching
- How Iran and the US went from friends to bitter foes – BBC Africa
- I’m Changing How I Invest My Money Because of AI
Opportunities
- Tech Unite Africa returns on March 26, 2026, at Oriental Hotel, Lagos, bringing founders, investors, and industry leaders together for panels, exhibitions, and networking. Selected startups will compete in Startup World Cup Nigeria for a chance to reach the global finals and compete for a $1 million investment prize. Register or explore sponsorship opportunities here.
- ABDS 2026 will take place April 29–30, 2026, in Lagos, gathering founders, investors, developers, and policymakers shaping Africa’s blockchain and Web3 ecosystem. The summit focuses on industry insights, partnerships, and investment opportunities in one of the world’s fastest-growing crypto markets. Secure your pass or sponsorship here.
- Scrum Day Nigeria 2026 takes place on March 24 at the Lagos Oriental Hotel, bringing together product leaders, Scrum Masters, engineers, and executives passionate about building better products. The one-day conference features practical keynotes, hands-on workshops, coaching clinics, and real-world case studies focused on product leadership, agile ways of working, and modern engineering practices. If your organisation is considering accelerating delivery whilst improving business outcomes at the same time, this is the room to be in. Apply here.
- Gates Foundation Africa is recruiting Senior Communications Officer at Abuja, Nigeria. Apply by March 25, 2026 here.
- Paga is hiring a Sales Manager. Apply here.
- Paga is hiring senior sales executives. Apply here.
- Paga is looking for sales executives. Apply here.
- Paga is recruiting Senior Key Account Managers. Apply here.
- Paga is hiring Account Managers. Apply here.
- As one of Techpoint Africa’s most engaged readers, you have a direct hand in shaping what we publish next. Take our quick, 3-minute survey to tell us the stories and features you value most. Your responses are anonymous, and your feedback will help guide our editorial focus in the months ahead. Fill the survey here.
- Interswitch is hiring a Strategic Partnerships Executive. Apply here.
- CANAL+ Group is looking for a CDI – Finance & Administrative Director GVA. Apply here.
- Tix Africa is hiring a finance operations specialist (Lagos, Nigeria). Apply here.
- Flutterwave is hiring for several marketing and finance roles. Apply here.
- Credit Direct is expanding and hiring across Product, Tech, Risk, Strategy & HR. Apply here.
- Spot & Tango is looking to hire a Customer Experience Specialist (Remote). Apply here.
- Infuse is looking to hire a Senior Product Manager (Contract, Remote). Apply here.
- LemFi is looking to hire a Customer Support Associate (Lagos, Hybrid). Apply here.
- Moniepoint is hiring for over 100 roles. 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.
- 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 productive week week!
Victoria Fakiya for Techpoint Africa
