TechCabal

A continent-wide publication that documents advancements in innovation and technology throughout Africa.

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Kenya to scrap risk-based loan pricing to lower interest rates

1 day ago | techcabal.com | Adonijah Ndege

The Central Bank of Kenya (CBK) has proposed scrapping the risk-based credit pricing model in favor of pegging lending rates to its benchmark policy rate, a major shift aimed at lowering borrowing costs and improving access to credit for households and businesses. The decision follows frustration within the CBK over the to lower interest rates despite multiple reductions in the benchmark lending rate since October 2024.
Why Visa is banking on contactless payments for its next growth wave in Africa

2 days ago | techcabal.com | Ganiu Oloruntade

Global payments giant Visa is doubling down on contactless payments across Africa as part of a broader strategy to expand its relevance in markets where traditional card usage is still limited.
Banks built the trust. Now they're building the tech

3 days ago | techcabal.com | Adonijah Ndege

It used to be simple: if you wanted to keep your money safe, you went to the bank. If you needed a loan, you dressed up, filled out some forms, and hoped a credit officer would like your story. The bank was the trusted gatekeeper, and for the most part, that worked. But that formula doesn’t hold anymore, not when 22-year-olds in Nairobi can borrow money, invest in crypto, and pay rent, all through apps that never ask them to walk into a branch. Across Africa, the financial playing field is changing.
Lumi Business Joins Forces with Chowdeck to Power Smart Inventory for Restaurants in Nigeria

1 week ago | techcabal.com | Timi Odueso

Lagos, Nigeria – 17/04/2025 – For restaurants and food businesses across Nigeria, online marketplaces like Chowdeck have opened the floodgates to new customers—but this opportunity also created a major challenge. Orders come in fast, but inventory tracking? A disjointed, manual mess. That pain ends now. Lumi Business, Nigeria’s leading business management platform for SMEs, has announced a powerful new integration with Chowdeck, the country’s fastest-growing food delivery marketplace.
Zimi secured $320,000 to test V2G tech in South Africa

1 week ago | techcabal.com | Sakhile Dube |Kosisochukwu Ugwuede |Frank Eleanya |Faith Omoniyi

Zimi, a South African electric vehicle (EV) charging solutions startup, has secured $320,000 (R6 million) in grant funding from the Energy and Environment Partnership (EEP Africa Trust Fund) to test its vehicle-to-grid (V2G) technology in South Africa. Vehicle-to-grid (V2G) is a technology that lets electric cars send power back to homes, businesses, or the electricity grid when needed.
đ¨đżâđTechCabal Daily â Laid off for doing too well

1 week ago | techcabal.com | Adonijah Ndege

Imagine losing your job because your company’s customers were on their best behaviour? Well, we mean, isn’t that what you’re hoping for if you work for a company that is frequently in the loan recovery business? It’s a weird position to be in—rooting for success, only to be let go because things went too well. That was the fate of 28 Tala employees who were let go this month. In digital lending, keeping a low loan default rate is how you stay capital-efficient.
Polytope Labs Raises Over $5 Million to Scale Hyperbridge, backed by the Polkadot Ecosystem Fund

1 week ago | techcabal.com | Timi Odueso

Hyperbridge, a secure and highly scalable blockchain interoperability protocol, has raised over $5 million – $2.5 million in its seed round and $2.8 million in its public sale. The seed round was led by the Polkadot Ecosystem Fund (a joint venture by the Web3 Foundation and venture capital firm Scytale Digital). All these came on the heels of its crowd loan, which saw the project raise $2.7 million to secure a parachain slot, making it the most successful in recent times.
Introducing Dot Float: Quiet Returns From Idle Funds

1 week ago | techcabal.com | Timi Odueso

If you run a wallet service, a payment platform, or a fintech product with a payout system, you’re already familiar with the concept of float, the operational balance that helps keep things moving. But in most cases, that float sits idle. It doesn’t generate returns. It doesn’t contribute to your bottom line. It simply exists to keep your infrastructure functioning. At Dot, we’ve been thinking about how to change that.
Circool by SolarCorp: How Africa's First Solar Wallet is accelerating solar power adoption in Africa

1 week ago | techcabal.com | Timi Odueso

Sub-heading: Circool, Africa’s first Solar wallet, is on a mission to make solar power adoption faster through its savings feature. Power supply is key to productivity for Nigerians. With remote work boom and 42% of African employees working remote at least once a week. MSMEs also need stable power supply to drive sales. However, the current options are not cutting it. Government supplied electricity is totally unreliable, with power grid collapses and infrequent power supply schedule.
How Circool by SolarCorp is Making Solar Power Accessible to Everyone

1 week ago | techcabal.com | Timi Odueso |Towobola Bambgose

Everyone needs stable power supply for their day to day activities: Remote workers, MSMEs, households, the list is endless. With the recent fuel hikes and power grid collapse, it’s only apparent that these existing form of electricity generation is not sufficient to meet the needs of the ever-growing Nigerian population. The next best alternative is getting a solar system. However, a lot of Nigerians cannot afford to pay outright for a solar system.