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1 week ago | 
techcabal.com | Ganiu Oloruntade |Kenn Abuya |Bunmi Bailey |Muktar Oladunmade
Nigeria’s tech ambitions were on full display this week at GITEX Africa in Morocco, where the National Information Technology Development Agency (NITDA) pitched to the international audience a future shaped by artificial intelligence in Nigeria and cybersecurity, two pillars it hopes will define the country’s next phase of digital transformation.
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1 week ago | 
techcabal.com | Bunmi Bailey |Adonijah Ndege |Sakhile Dube |Towobola Bambgose
Ten of Nigeria’s biggest banks recorded a 58% surge in e-payments income as digital transactions hit a record high in 2024, according to their latest financial statements. The increase, driven by higher transfer volumes, increased reliance on mobile apps, and card usage across retail channels, is reshaping the traditional profit model of banking in Nigeria.
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1 week ago | 
techcabal.com | Ngozi Chukwu |Sakhile Dube |Kenn Abuya |Bunmi Bailey
PricePally, a Nigerian online grocery start-up known for group-buying, is testing grocery exports to drive revenue growth after a slump in its B2B segment. Its B2B procurement service, which contributed a quarter of revenue, shrank to 10% in 2024 after a sharp naira devaluation and food inflation. Founded in 2019, PricePally built a following among millennials with bulk-buying deals, enabling users to make group purchases of staples like rice, yam, tomatoes, etc.
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1 week ago | 
techcabal.com | Kosisochukwu Ugwuede |Muktar Oladunmade |Frank Eleanya |Bunmi Bailey
Mobile money is so ubiquitous in Ghana people have little to no need for traditional banks. With a mobile money account—every major telecom player offers a ‘MoMo’ service—you can send and receive money, withdraw cash at vendor or agent outlets, even receive some interest if you leave your money in your wallet long enough, and run a small business comfortably. Kofi Dotse, a Ghanaian serial entrepreneur, told me he hasn’t entered a banking hall in several years.
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1 week ago | 
techcabal.com | Towobola Bambgose |Hannatu Asheolge |Adonijah Ndege |Bunmi Bailey
VFD Microfinance Bank Ltd. held its 3rd Annual General Meeting for the 2023 financial year on Thursday, the 10th of April, at Herel Play, Ikoyi Lagos. The AGM was themed “Banking with Purpose, Delivering with Impact.”The meeting’s agenda included presenting the audited financial statements for 2022 and 2023, re-electing and appointing directors, re-appointing auditors, and determining the remuneration for auditors and directors.
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2 weeks ago | 
techcabal.com | Bunmi Bailey |Frank Eleanya |Faith Omoniyi |Abraham Augustine
This article is part of TechCabal’s ongoing coverage of the impact of Trump’s tariffs on Africa’s technology landscape. The zero-interest era in the US saw venture capital firms pour billions into emerging markets, including Africa, in search of outsized returns. But the US trade tariff, paused for 90 days, could dampen non-oil export volumes, create unstable exchange rates, and fuel inflation if or when resumed.
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1 month ago | 
techcabal.com | Bunmi Bailey
Local e-commerce players in Africa Jiji and Jumia see no threat to Temu's marketing blitz in Nigeria's $13 million e-commerce market.
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1 month ago | 
techcabal.com | Bunmi Bailey |Frank Eleanya |Kenn Abuya |Adonijah Ndege
Over 2,500 ride-hailing apps, mostly locally developed ones, have attempted to compete for commuters since US-based Uber entered the Nigerian market in 2014, according to a top official of the Amalgamated Union of App-Based Transporters of Nigeria (AUATON). Rising operational costs, regulatory hurdles, and the dominance of well-funded foreign players have made it nearly impossible for local platforms to compete.
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1 month ago | 
techcabal.com | Bunmi Bailey |Frank Eleanya |Adonijah Ndege |Faith Omoniyi
Nigeria recorded the steepest decline in cash transactions to surpass six cash-reliant economies in the past decade thanks to the rapid adoption of digital payments and rising fintech partnerships, according to a report by global payment processing company Worldpay. From 2014 to 2024, cash transactions in Nigeria fell by 59%, the largest drop among the seven major economies analysed.
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1 month ago | 
techcabal.com | Kenn Abuya |Bunmi Bailey |Frank Eleanya |Faith Omoniyi
Elon Musk’s Starlink has become Kenya’s seventh-largest internet service provider (ISP), overtaking established local rivals like Dimension Data and Liquid Telecommunications Kenya just six months after breaking into the country’s top ten. The satellite broadband provider now has 19,146 users—up from 16,786 three months earlier—capturing 1.1% of Kenya’s internet market, according to the Communications Authority of Kenya (CA) data.
