Author: Insider Editor

Nigeria is preparing to do more than launch new communications satellites. It also wants to build some of the equipment needed to operate them locally. Nigerian Communications Satellite Limited (NIGCOMSAT) has selected US satellite communications company Hughes Network Systems’ JUPITER ground system for its next two communications satellites, NIGCOMSAT-2A and 2B, which are expected to launch in 2028 and 2029. As part of the deal, Hughes will provide technical and engineering support for a facility in Nigeria that will assemble satellite terminals. These terminals include antennas and other equipment that send signals to satellites and receive them back on Earth.…

South Africa already has the technology to move money between banks in seconds. For GoTyme Bank, the bigger question is why customers should have to pay extra to use it. Interbank transfers have traditionally come with fees, partly because moving money between different banks comes with processing costs. But PayShap, South Africa’s instant-payment system, has been available to bank customers since 2023, allowing money to move between participating banks almost instantly. Despite that, some banks still charge customers for using the service. GoTyme Bank, the digital-first lender formerly known as TymeBank, is challenging that model. The bank has offered customers…

Lebara Nigeria, the local arm of London-based mobile virtual network operator (MVNO) Lebara Group, has started commercial operations in Nigeria, adding a new player to the country’s competitive telecom market. Unlike MTN Nigeria, Airtel Nigeria, Globacom and 9mobile, Lebara does not own the mobile network infrastructure its customers will use. Instead, it will provide mobile services over Airtel Nigeria’s network while focusing on digital products, customer experience and additional services. The launch makes Lebara the second MVNO to begin commercial operations under Nigeria’s current regulatory framework, following Vitel Wireless, which launched in October 2025. It is also Lebara Group’s first…

One of Kenya’s most heavily funded startups, Twiga Foods has entered administration after years of financial pressure, layoffs and attempts to restructure its business. According to a gazette notice published on September 11, GT Flow Limited, formerly known as Twiga Foods One Limited, entered administration on August 17. Mohamed Mohamed was appointed as administrator and has taken control of the company’s business, assets and affairs. The appointment means Twiga’s directors can no longer deal with the company’s assets without the administrator’s approval. “The administrator takes control over the business assets and the management of the affairs of the Company without…

Nigerians trying to buy a piece of Dangote Petroleum Refinery through their phones ran into an unexpected problem: they could not get into the apps selling the shares. Cowrywise and Bamboo, two of Nigeria’s major investment fintechs, struggled to handle a surge in traffic as investors rushed to subscribe to Dangote Refinery’s ₦2.15 trillion initial public offering (IPO). Users took to social media to complain about login problems, slow-loading apps, error messages, and failed attempts to access the IPO. Both Bamboo and Cowrywise acknowledged the issues on X and said their teams were working to restore normal service. The disruption…

Paying a supplier in China can be a frustrating part of doing business for African companies, even when the money is already sitting in a foreign-currency account. Grey wants to make that process simpler. The Y Combinator-backed cross-border fintech has launched Chinese yuan payouts, allowing customers to convert their US dollar, euro, British pound or stablecoin balances into yuan and send the money directly to bank accounts in China. For Grey, the move is about more than adding another currency. It is an attempt to build a smoother payment route between African businesses and one of their biggest trading partners.…

Cascador has selected 10 Nigerian businesses for its 2026 ScaleUp Program, a 12-week accelerator designed to help growth-stage companies strengthen their operations and prepare for their next phase of expansion. The businesses were selected from more than 1,000 applications and operate across sectors including clean energy, healthcare, agriculture, proptech, beauty, tourism, food production and critical minerals. The latest cohort is part of Cascador’s efforts to support Nigerian companies that have moved beyond the early stages of building a business but still need capital, strategic guidance and stronger leadership structures to scale. “The next chapter of Nigeria’s entrepreneurial story will be…

For a country where cash remains a major part of everyday spending, South Africa could become one of MTN’s biggest tests for MoMo. MTN’s mobile-money and digital financial services platform is looking to expand beyond the markets where mobile money has traditionally thrived. The company now sees an opportunity to use South Africa’s changing payments infrastructure to bring more consumers and businesses into digital finance. MTN wants MoMo to evolve from a mobile wallet into a broader financial platform, connecting consumers and merchants to payments, credit, remittances and other digital services across its African markets. South Africa presents a different…

A Senegalese healthtech startup is getting a new owner as European health insurer Alan looks to establish a foothold in Africa. Alan has acquired Tanel, a Dakar-based digital health and insurance company operating in Senegal and Côte d’Ivoire, in a deal whose value has not been disclosed. The transaction, which closed in June, marks Alan’s first acquisition on the continent. For Tanel, the deal brings a full exit for investors including Ventures Platform, AAIC Investment and a group of angel investors, while giving the startup access to Alan’s capital, technology and international reinsurance network. The acquisition also comes at an…

Nigerian fintech Nomba and renewable energy financing company Synafare are putting ₦2 billion ($1.4 million) into solar financing for small and medium-sized businesses across Nigeria. The funding will be deployed over the next 24 months and is expected to help about 300 businesses purchase solar panels, inverters and batteries. The partnership comes as many Nigerian businesses continue to struggle with two major challenges: limited access to affordable credit and unreliable electricity. Nigeria has about 40 million micro, small and medium-sized businesses, which contribute nearly half of the country’s GDP. Yet, more than 80% of these businesses do not have access…