Author: Insider Editor

For many Nigerians, accessing and using cryptocurrency remains unnecessarily complicated. Multiple apps, confusing interfaces, and slow withdrawals often make transactions frustrating. Sollo is simplifying the process by bringing crypto directly to WhatsApp. Sollo, an AI-powered WhatsApp crypto wallet, was created by Emeka Nwonye and developed by Ellvara X Limited, co-founded by Nwonye and Onyegwu Divine. The platform lets users send, receive, swap cryptocurrency for naira, and withdraw funds to their bank accounts all through simple WhatsApp messages. Built entirely inside WhatsApp, Sollo taps into the platform used by 95% of Nigeria’s 31.6 million social media users. “We want to revolutionise…

LoftyInc Capital has co-led a $4 million seed round in Moroccan fintech startup WafR, marking one of the first investments from its newly launched Alpha Fund and signaling a stronger focus on North Africa. The round was co-led alongside Attijariwafa Ventures and Almada Ventures, with additional participation from UM6P Ventures and First Circle Capital. Morocco’s startup ecosystem has been gaining attention, raising $58 million in 2025 and ranking seventh on the continent for capital raised. Investors like LoftyInc are increasingly backing fintechs that integrate financial services into informal retail networks, reflecting a regional strategy that goes beyond national borders. Founded…

An electric mobility company Spiro is building battery-swapping networks for motorcycles, has secured $50 million in debt financing to expand its footprint across Africa. The new funding backed by Afreximbank, Nithio, and Africa Go Green Fund comes just months after the company raised $100 million in October 2025. The back-to-back capital injections highlight how infrastructure-heavy Africa’s electric mobility sector is becoming, particularly for companies building physical networks of batteries and swap stations. Scaling beyond pilots Africa’s electric two-wheeler market is moving past small pilots into large-scale deployments. In this phase, access to long-term financing is critical. Companies that can fund…

A Kenyan electric bus startup BasiGo, is piloting a scheduled commuter service in Nairobi, marking a shift beyond its core business of supplying electric buses. Instead of simply selling vehicles to operators, the company is now testing fixed-route services that connect residential estates directly to key business districts such as Westlands and Upper Hill. BasiGo has integrated electric mid-sized buses into existing matatu Saccos (transport cooperatives), introducing non-stop routes with set schedules. The aim is to bring structure to a public transport system that is often unpredictable and fragmented. By using demand data to determine viable routes and departure times,…

Joint Admissions and Matriculation Board (JAMB) has said its biometric verification rules, not religion were responsible for a viral dispute involving a candidate’s hijab during registration for Nigeria’s main university entrance examination. The board, which conducts the Unified Tertiary Matriculation Examination (UTME) for millions of candidates each year, explained that requests for candidates to slightly adjust their hijabs or other head coverings are strictly technical requirements tied to biometric photo capture. The clarification follows a viral video alleging that a candidate at a registration centre at Afe Babalola University in Ado-Ekiti, Ekiti State, was asked to remove her hijab before…

Terra Industries, a Nigerian defence-technology startup known for building drones and surveillance software, has signed a memorandum of understanding with the Defence Industries Corporation of Nigeria (DICON), the military-run defence manufacturer. The agreement will see both parties establish a joint venture company (JVC) focused on producing advanced security systems locally. The new entity will operate as a subsidiary of DICON and will be jointly owned and promoted by the two organisations. The move comes at a time when insecurity remains a pressing national concern. A 2024 policy brief by the Nigerian Institute of Social and Economic Research (NISER) noted that…

Nedbank Group has moved a step closer to taking control of NCBA Group after securing a key regulatory waiver in Kenya, clearing a major hurdle in its bid to acquire about 66% of the East African lender. Kenya’s Capital Markets Authority (CMA) granted the South African bank an exemption from rules that would have required it to make a mandatory offer for 100% of NCBA once it crossed certain ownership thresholds. In a statement issued on February 19, 2026, Nedbank said it had received the approval and formally notified shareholders and noteholders of the development. The waiver preserves the structure…

Nigeria’s Ministry of Communications, Innovation, and Digital Economy has announced it will review MTN Group’s proposed $2.2 billion acquisition of IHS Towers, a deal that would give Africa’s largest mobile operator full control of one of the continent’s most extensive tower networks. In a statement on Tuesday, Minister Bosun Tijani said the ministry would carry out a “thorough assessment” of the transaction alongside relevant regulators, citing the strategic importance of telecoms infrastructure for national security, financial services, and economic growth. “Our objective is clear: to ensure that any market consolidation or structural changes protect consumers, safeguard investments, and preserve the…

On January 23, as Mang’u High School celebrated its 100th anniversary about 50 kilometres from Nairobi, three banking booths drew steady attention from students and parents. Co-operative Bank, Equity Bank, and KCB Group were offering prepaid cards pitched as a safer, modern way to manage pocket money. The cards, costing between KES 350 and KES 600 depending on the bank, allow parents to load money through channels like M-PESA or bank apps, while students can spend only what has been loaded. Lost cards can be blocked, balances monitored, and parents receive transaction alerts, making them a more controlled alternative to…

MTN Group, Africa’s largest telecom operator, is making a bold return to infrastructure ownership. The company has announced plans to acquire full ownership of IHS Towers in a $2.2 billion deal that would bring nearly 29,000 telecom towers across Africa back under its control, marking a significant strategic shift for the continent’s biggest mobile network operator. IHS has accepted an offer of $8.50 per share, a transaction that would raise MTN’s stake from about 24.7% to 100% and result in the tower company being taken private. The proposal, disclosed in a statement shared Tuesday, is subject to shareholder and regulatory…