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1 week ago | 
techpoint.africa | Chimgozirim Nwokoma
Agriculture is the backbone of Africa’s economy, employing over 60% of the continent’s labour force and contributing significantly to the gross domestic product (GDP) in many countries. In Ghana, home to agritech startup Complete Farmer, agriculture makes up 54% of its GDP, accounts for over 40% of export earnings, and employs 52% of the labour force.
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1 week ago | 
techpoint.africa | Chimgozirim Nwokoma
Profit before tax slumped to ₦181.5 million in Q1 2025. While revenue is up 11.5% year-on-year to ₦3.87 billion, finance costs have risen nearly tenfold from a year earlier. A marginal increase in net profit was supported by a lower tax expense. Chams Holding Company Plc reported a steep 54% year-on-year drop in profit before tax for the first quarter of 2025, as surging finance costs weighed on its bottom line despite healthy top-line growth.
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2 weeks ago | 
techpoint.africa | Chimgozirim Nwokoma
Gurbhej Dhillon, who joined Flutterwave from Goldman Sachs in 2022, has announced his departure from the company. Dhillon, who joined as Chief Technology Officer, made this announcement in a LinkedIn post on Thursday, May 1, 2025. “After an incredible journey as the Chief Technology Officer at Flutterwave, I am stepping away from the company,” he wrote.
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2 weeks ago | 
techpoint.africa | Chimgozirim Nwokoma
Seven growth-stage African startups operating in the pharmacy sector have been selected to receive up to $225,000 each in grant funding through the third cohort of Investing in Innovation (i3) — an initiative designed to help African healthtech startups commercialise and scale their solutions.
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2 weeks ago | 
techpoint.africa | Chimgozirim Nwokoma
On Thursday, April 24, 2025, Legend Internet became the first Nigerian broadband provider to list on the Nigerian Exchange (NGX), floating two billion ordinary shares at ₦5.64 each. The Abuja-based company, known for its fibre-to-the-home and fintech services, also announced plans to raise ₦150 billion in debt and equity to fund its nationwide expansion. With Nigeria’s broadband penetration still below 50%, Legend Internet’s public debut is crucial for Nigeria’s digital future.
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2 weeks ago | 
techpoint.africa | Chimgozirim Nwokoma
Nigerian fintech Salad Africa has partnered with Glovo Nigeria, which will see it provide financing for small and medium businesses on Glovo. The Techstars-backed startup will provide loans ranging from ₦50,000 to ₦100 million to merchants who have been active for a minimum of three months on the Glovo platform. Eligibility and credit decisions will be powered by sales data on the Glovo app.
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2 weeks ago | 
financeinafrica.com | Chimgozirim Nwokoma
Last year, our CEO, Múyìwá Mátùlúkò, posted this tweet detailing his experience opening an account and getting a debit card in ten minutes. But that did not happen in a banking hall but by the roadside and facilitated by one of the over 1.8 million point of sale (POS) agents sprawled across Nigeria. According to the Access to Finance in Nigeria (2024–2025) report by Intelpoint and Finance in Africa, a staggering 95.4% of respondents depend on these POS agents to access financial services.
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2 weeks ago | 
techpoint.africa | Chimgozirim Nwokoma
Nigerian investment firm Aruwa Capital Management has raised $35 million in the first close of its second fund, with an initial target of $40 million. The firm now aims for a final close of $50 million, with a hard cap of $60 million. Fund II boasts a mix of returning and new investors.
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3 weeks ago | 
techpoint.africa | Chimgozirim Nwokoma
Last year, our CEO, Múyìwá Mátùlúkò, posted this tweet detailing his experience opening an account and getting a debit card in ten minutes. But that did not happen in a banking hall but by the roadside and facilitated by one of the over 1.8 million point of sale (POS) agents sprawled across Nigeria. According to the Access to Finance in Nigeria (2024–2025) report by Intelpoint and Finance in Africa, a staggering 95.4% of respondents depend on these POS agents to access financial services.
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3 weeks ago | 
techpoint.africa | Chimgozirim Nwokoma
In response to ongoing disruptions in United States Agency for International Development (USAID)-funded supply chains, the Government of Ghana has partnered with autonomous drone logistics company Zipline to maintain the flow of essential medical supplies across the country. The decision comes after a stop-work order affecting numerous USAID programs and an extended review process that has left many health facilities facing uncertainty.
