Muktar Oladunmade

Lagos

Reporter at TechCabal

fun | reporter @TechCabal send scoops to [email protected]

Featured in: Favicon

techcabal.com Favicon

contractordailynews.com Favicon

zikoko.com Favicon

newsdirect.ng

Articles

Nigeria is banking on AI, cybersecurity to lead Africa’s digital future

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.
Tala lays off 28 staff as loan defaults and customer queries fall

1 week ago | techcabal.com | Kenn Abuya |Muktar Oladunmade |Sakhile Dube

Digital lender Tala has laid off 28 employees from its customer operations team, citing a reduced workload due to fewer loan defaults and a drop in customer support queries. In an internal memo seen by TechCabal, the company said the layoffs were necessitated by a shift in how customers repay their loans. An internal memo from February 2025 initially outlined plans to cut 55 roles across Tala’s recovery and customer service teams, citing operational shifts and efficiency measures.
How Moniepoint is going after remittances with Monieworld

1 week ago | techcabal.com | Muktar Oladunmade |Frank Eleanya |Sakhile Dube |Kenn Abuya

Moniepoint, the Nigerian fintech unicorn, has launched Monieworld, its remittance product that allows UK residents to send money directly from a Monieworld account, cards, a British bank account or via Apple Pay and Google Pay to any Nigerian bank account. In a live demo seen by TechCabal, it took just 17 seconds to send £1 to a Moniepoint account, which received ₦2,172—₦53 more than on other remittance platforms like Grey and ₦30 more than Lemfi.
South Africa's Stitch raises $55 million Series B funding

1 week ago | techcabal.com | Sakhile Dube |Kenn Abuya |Faith Omoniyi |Muktar Oladunmade

Stitch, a South Africa-based payments infrastructure startup founded in 2021, has raised $55 million in a Series B round, bringing its total funding to $107 million within just four years of operation. The funding is aimed at expanding its in-person payment offerings, improving its online payment suite, and facilitating its entry into card acquiring.
'CBEX' promised double returns; over ₦1 trillion could be gone

1 week ago | techcabal.com | Kenn Abuya |Faith Omoniyi |Muktar Oladunmade

This is a developing story. In April 2025, CBEX, a digital asset trading platform, collapsed, leaving thousands of Nigerians unable to access their funds. The platform had promised investors a 100% return on investment within 30 days, a textbook red flag for Ponzi schemes. CBEX sustained its illusion of profitability by using funds from new investors to pay earlier ones.
Axel Peyriere's guide to angel investing in Africa

1 week ago | techcabal.com | Muktar Oladunmade |Towobola Bambgose

After spending a decade travelling across developing countries in Asia and Africa, Axel Peyriere, the CEO of Auto24, a used car marketplace, started investing in African startups as an angel investor in 2011. In the fourteen years since he started cutting cheques for African startups, he has backed over 30 startups including Julaya, Bumpa, Monaco, Curacel, Termii, Grey, Remedial Health, and several others.
Affinity Africa wants you to carry a full-fledged bank in your pocket

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.
How Grace Abikoye went from Unilorin to a global investment bank

1 week ago | techcabal.com | Ngozi Chukwu |Timi Odueso |Muktar Oladunmade

Tucked in the quiet contours of Ilorin, a city in Nigeria’s North Central, the University of Ilorin (Unilorin) has stood for half a century as an academic beacon. Now, with the rise of remote work and a new generation of talents, it’s becoming something more—a launchpad for global ambition. No, it has become a place where deserving students, regardless of their backgrounds, nourish their wildest dreams to work in the best global financial companies.
👨🏿‍🚀TechCabal Daily – FairMoney, more money | TechCabal

1 week ago | techcabal.com | Adonijah Ndege |Muktar Oladunmade

2024 was a great year for FairMoney. The fintech remained profitable, grew its revenue, and increased its profit to ₦7.9 billion ($5 million) from ₦780 million ($490,000). As revenue grew, FairMoney also improved its profit margin, increasing from 1% in 2023 to 4.79% in 2024. The fintech keeps roughly ₦6.5 from every ₦100 it makes. However, all this growth was only possible because the fintech stopped relying on borrowing money from other sources like commercial papers to finance its loan book.
Fairmoney grew revenue to ₦121.9 billion on deposit-led lending

2 weeks ago | techcabal.com | Muktar Oladunmade