Author: Insider Editor

For years, Nigerian fintechs have had a complicated relationship with cards. Early on, many leaned on foreign-issued options like Visa and Mastercard to attract users and promote online spending. But as the country’s economic conditions worsened and bank transfers surged in popularity, cards began to fall out of favour. To adapt, many fintechs abandoned international card schemes, opting instead for local alternatives or scrapped card offerings altogether to cut costs and adjust to changing customer behavior. At the heart of the issue is a delicate revenue model. Fintechs earn from cards via interchange fees: a small percentage charged on every…

While the government claims the move is intended to safeguard children’s mental health, it also raises concerns about increasing censorship.Tanzania has shut down more than 80,000 websites, social media accounts, blogs, and online platforms in what marks the country’s largest digital content purge to date. Deputy Minister for Information, Culture, Arts, and Sports, Hamis Mwijuma, told parliament on Monday that the Tanzania Communications Regulatory Authority (TCRA) had flagged 80,171 platforms for publishing content deemed harmful to children’s mental well-being. He was responding to a question from MP Ng’wasi Kamani about the government’s approach to controlling social media. This massive crackdown…

Kashifu Inuwa, the Director-General of Nigeria’s National Information Technology Development Agency (NITDA), believes that Africa’s best opportunity in the global AI race lies not in competing with infrastructure giants, but in focusing on developing local talent and creating small language models (SLMs) tailored to the continent’s specific needs. According to Inuwa, small language models, which are lightweight and designed for African languages and offline environments, present a unique chance for Africa to bypass the heavy infrastructure required by larger AI models. This approach could help the continent leapfrog the technological barriers that have limited its participation in past global tech…

Lagos-based tech giant CWG Plc is eyeing fresh frontiers in East Africa and the Middle East after posting its first billion-naira profit in 13 years, a move that marks a new chapter for one of Nigeria’s oldest IT infrastructure firms. The company reported a staggering 428% year-on-year surge in profit to ₦3.04 billion ($1.89 million) in 2024, driven by a strong rebound in enterprise IT spending and the growing uptake of its proprietary software platforms across Nigeria and beyond. With operations already in Nigeria, Ghana, Uganda, and Cameroon, CWG is positioning itself as a pan-African tech enabler with global aspirations.…

Platos Health, a Lagos-based health-tech startup revolutionizing home-based preventive care, has secured $1.4 million in pre-seed funding to expand the reach of its AI-driven metabolic health platform, Platos Monitor, across Nigeria. The round was led by Google for Startups, with additional backing from Invest International and a network of angel investors affiliated with global tech giants including Google, Tesla, and Unicredit. The capital injection will support the nationwide rollout of the Platos Body Monitor, a medical-grade device designed to empower individuals to track and manage their health metrics from home. Founded in 2020 by Joseph Fakayode, Platos Health is focused…

Salad Africa, a fintech firm specializing in embedded lending infrastructure for B2B marketplaces and technology-driven SMEs, has teamed up with Glovo, a leading app that connects users to businesses and riders in Nigeria, to enhance financing opportunities for small and medium-sized enterprises (SMEs). The new collaboration introduces a distinctive SME financing program aimed at providing eligible Glovo partners with easier access to working capital, with more competitive rates and terms compared to traditional banking institutions. The initiative is designed to help businesses scale quickly, introduce new products, and increase revenue within the Glovo ecosystem. By aligning itself with prominent global…

After pivoting to debt investments and making strategic layoffs, GetEquity, the Nigerian startup enabling retail investors to engage with local markets, has reached profitability. The company’s expansion into commercial papers and debt notes comes as retail investors increasingly seek safer, low-risk alternatives in a market facing a slowdown in venture capital funding. CEO Jude Dike shared, “We’re not yet at the stage where we can spend heavily on growth or expansion, but we’re able to pay our team and keep the business going without needing outside capital.” Originally launched in 2021 to allow individuals to invest in startups, GetEquity had…

South Africa is facing a wave of increasingly sophisticated cyberattacks, and everyday citizens are paying the price. In one of the most alarming recent cases, hackers hijacked the official social media accounts of Parliament to promote a fake cryptocurrency scheme an incident that highlights just how bold cybercriminals have become. But the threat goes far beyond high-profile breaches. Millions of South Africans are losing personal data and hard-earned money to digital scams that range from phishing emails and scam calls to full-blown identity theft. Digital banking fraud has spiked by 45%, while the financial losses tied to these crimes are…

BoxCommerce, a fast-growing e-commerce platform, has officially launched in the United Arab Emirates (UAE), eyeing the country’s booming mobile commerce market and large community of small businesses. The company is betting that its simple, all-in-one solution will fill a major gap for local entrepreneurs who want to take their businesses online but lack the tools or tech know-how to do it. Founded in 2019, BoxCommerce offers a full suite of tools that help businesses set up online stores, manage inventory, accept payments, and handle deliveries all without needing a developer. After expanding to Kenya in 2022, the company says it…

As Nigeria’s largest telecom provider, with over 50% market share, MTN plays a pivotal role in connecting millions to mobile and digital services. Its share performance often mirrors investor sentiment toward the broader tech and communications sector. A healthy stock price also affects MTN’s ability to raise capital, upgrade its infrastructure, and expand broadband access. Investor interest in MTN Nigeria surged in April 2025, driven by renewed optimism that the country’s largest telecom operator could return to profitability in the first quarter of the year. The excitement follows recent 50% tariff increases, measures that analysts believe will significantly improve the…