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How Nigerian startups are de-dollarising their operations

2 days ago | techcabal.com | Ngozi Chukwu

It used to be simple. You built something people wanted, got investments to buy the tools you need and create the team you need to scale exponentially—maybe a few smart hires from abroad. The tech ecosystem was flush with cash and hope for startups and their technology, so the numbers worked. Until 2023, the numbers stopped working for startups in Nigeria; the naira value has depreciated against the dollar.
Africa’s logistics and transport funding in Q1 2025

2 days ago | techcabal.com | Ngozi Chukwu

Thirteen logistics and mobility startups raised funding in the first quarter of 2025. This matched the number of deals inked in Q1 2024, but the total amount plummeted to $44.9 million. Funding this year saw a 69% decrease from the $146 million raised in the same quarter last year. Despite the decline in funding, the number of deals reflects continued investor appetite for vehicle financing platforms. The largest deal was in the mobility-fintech subsector in both years.
ğ¨ğ¿âğTechCabal DailyâMoniepoint's big payout

2 days ago | techcabal.com | Faith Omoniyi

Whatâs the fastest way to get rich (without ending up in handcuffs)? Try joining a startup early. Sure, you never really know which startup will succeed or fail. Just ask Ronald Wayne, the guy who sold his 10% stake in Apple for $800 back in 1976. Today, his stake would be worth a mind-boggling $350 billion. Ouch. But hereâs the real lesson: When Moniepoint closed its $110 million round, two employees cashed in big. One pocketed $850,000 (â¦1.3 billion) by selling two-thirds of their shares.
Oreoluwa Adeyemo wrestles Africa’s cross-border payments puzzle

3 days ago | techcabal.com | Ngozi Chukwu

Picture a ten-year-old boy, perched at a wooden desk, pencil in hand, carefully tallying figures from his father’s accounting books, a faint smile on his face. He imagines himself one day becoming an accountant like his dad or teaching finance at a prestigious university like Harvard. Fast forward to 2025, and that boy, now a man, is a tech founder instead.
Moniepoint unicorn round made employees billions of naira

3 days ago | techcabal.com | Muktar Oladunmade

When Moniepoint raised $110 million in October 2024 to become a unicorn, not only its early investors made money from selling shares to new investors. At least two senior employees also sold part of their shares in the round, making $20,000 and $850,000 (₦1.3 billion), respectively, according to documents seen by TechCabal.
ğ¨ğ¿âğTechCabal Daily â dLocal to acquire Aza Finance

3 days ago | techcabal.com | Faith Omoniyi

After its first date with KopoKopo didnât quite go as planned, Nigerian fintech Moniepoint is giving Kenya another shotâthis time with Sumac Microfinance Bank. The Competition Authority of Kenya (CAK) has approved Moniepointâs bid to acquire a 78% stake in Sumac, potentially giving it a shortcut into one of Africaâs most competitive mobile payments markets valued at $67.3 billion (KES 8.7 trillion).
dLocal in talks to acquire Aza Finance to continue African march

4 days ago | techcabal.com | Faith Omoniyi

dLocal, the Latin American fintech unicorn that connects global merchants to emerging markets, is in talks to acquire Aza Finance (formerly BitPesa), a cross-border payments startup, as it continues its expansion into Africa. “We’re proud to announce our intention to acquire AZA Finance, a leading fintech specialising in cross-border payments and FX solutions in Africa, pending regulatory approval, dLocal wrote in a LinkedIn post on Tuesday.
DigiTax chases Africa’s rising demand for tax tech

4 days ago | techcabal.com | Kenn Abuya

Founded in 2022 by Caine Wanjau and Thuku wa Thuku, Kenyan startup, DigitTax, provides electronic invoicing (e-invoicing) software designed to meet rising tax authority demands across Africa. More governments, including Kenya, are rolling out e-invoicing mandates to tighten tax collection, and businesses need reliable tools to comply or risk penalties. DigiTax’s work is hinged on this development.
Kenya revives push to give KRA access to private financial data

4 days ago | techcabal.com | Kenn Abuya

Kenya is considering removing a legal provision that protects personal and customer financial data from tax authorities. In the 2025 Finance Bill, the Treasury has proposed deleting Section 59A(1B) of the Tax Procedures Act, a clause introduced in December 2024 that bars the Kenya Revenue Authority (KRA) from compelling businesses to share trade secrets or personal data collected from their customers.
Chowdeck, Glovo, and FoodCourt, which is the fastest?

5 days ago | techcabal.com | Ngozi Chukwu

Lagos’s food delivery market is increasingly competitive, but Glovo, a Delivery Hero-owned delivery platform, Y Combinator-backed Chowdeck, HeyFood, and FoodCourt are leading the race. When deciding which apps to buy food from, users often consider restaurant variety, fees (delivery, service, and surge), and, critically, delivery speed. But if you are like me, and you order only when you are on the verge of dying from hunger, the choice of which food delivery app becomes a matter of speed.