Author: Insider Editor

Absa Bank Kenya has automated more than 70% of its operations after investing KES 4 billion ($31 million) in technology, as digital channels continue to replace traditional banking across the country. According to the bank’s latest sustainability report, 71% of its processes were automated in 2025, while 94% of customer transactions were completed through digital and alternative channels. The figures highlight how Kenya’s banking sector is relying on automation, cloud computing and artificial intelligence to improve efficiency and reduce operating costs as fewer customers visit physical branches. The shift is not unique to Absa. I&M Bank reported that 98% of…

Just days after buying Ethiopian-founded developer tools startup Better Auth, US cloud platform Vercel has returned to Africa for another acquisition, this time snapping up Egyptian AI infrastructure startup Stakpak in a move that underscores its growing focus on AI-native developer tools. Although the companies did not disclose the financial terms of the transaction, the deal will see Stakpak’s founders join Vercel to continue building AI-powered infrastructure products. Its open-source projects, which have gained traction among developers, will remain publicly available. Founded in 2023 by George Fahmy, Stakpak set out to remove much of the complexity involved in deploying and…

As demand for artificial intelligence (AI) skills outpaces supply, Vodacom is looking beyond traditional hiring channels and turning to South Africa’s universities to develop the next generation of AI talent. The telecoms giant has partnered with the University of Johannesburg (UJ) and Amazon Web Services (AWS) to launch the Vodacom AI Lab, an initiative that will give postgraduate students hands-on experience by working on real-world AI projects drawn from the telecommunications industry. The programme reflects a growing view that Africa’s AI ambitions depend not only on access to technology but also on developing the skilled workforce needed to build and…

Airtel Money Kenya is set for a leadership transition after Anne Kinuthia Otieno stepped down as Managing Director, leaving the company ahead of Airtel Africa’s planned London listing later this year. Her departure comes amid a broader leadership reshuffle across Kenya’s telecom and mobile money sector. It follows the recent appointment of a new managing director at Airtel Kenya and the announced exit of Safaricom’s top financial services executive. Kinuthia Otieno announced her resignation in a LinkedIn post on Saturday, saying she was preparing for a new chapter in her career but did not reveal her next destination. Reflecting on…

Zedcrest Group, the Nigerian financial services firm with interests in investment banking, asset management and fintech, has acquired UK-founded payments startup Leatherback for an undisclosed amount, strengthening its position in the fast-growing international payments market. Leatherback will continue to operate independently under its existing brand and leadership, according to a joint statement by both companies. The transaction builds on a partnership that began in 2021 when Zedcrest backed Leatherback in its $10 million pre-seed funding round. It also follows the group’s acquisition of RMB Nigeria Stockbrokers in 2024 as it broadens its financial services portfolio. “Leatherback has built an impressive…

Airtel Nigeria is expanding its retail presence across the country as competition for mobile subscribers intensifies and demand for digital services continues to grow. The telecom operator said it has increased its network of customer touchpoints to more than 200,000 and now operates over 4,000 exclusive retail shops nationwide. The expansion is aimed at improving access to services such as SIM registration, airtime and data purchases, device sales, and customer support. It will make it easier for customers to access services such as SIM registration, airtime and data purchases, device sales, customer support and other digital offerings through a network…

Nigerian fintech startup Duplo is looking to banks to fuel its next phase of growth. The company, which builds financial operations software for businesses, has partnered with Wema Bank to make its platform available through ALAT Business, the bank’s digital banking platform for businesses. According to Duplo CEO Yele Oyekola, the partnership is the first of several similar collaborations the company hopes to establish with banks. Wema Bank becomes the first commercial bank in Nigeria to distribute Duplo’s software directly to its customers. The partnership reflects a growing trend across Africa’s financial services sector, where banks are increasingly teaming up…

Morocco-based compliance infrastructure startup VOVE ID has opened applications for a new programme aimed at helping African startups identify and address gaps in their compliance systems before they become obstacles to growth. The VOVE Compliance Infrastructure Program will select between six and eight startups operating in regulated or trust-sensitive sectors for tailored assessments covering Know Your Customer (KYC), Know Your Business (KYB), anti-money laundering (AML), fraud prevention, governance, and audit readiness. Applications close on August 20, after which selected participants will attend a compliance workshop and receive one-on-one readiness reviews. The initiative comes as regulators across Africa tighten anti-money laundering…

A Nigerian fintech formerly known as Moni, Rank, is doubling down on community finance with the launch of three new products designed to make it easier for individuals and small businesses to access capital. The company on Tuesday introduced Money Circles, a digital version of traditional rotating savings groups; Tribe, a platform that helps existing communities manage shared finances; and Rank Perks, a payroll solution that combines salary-backed credit with workplace savings circles. The launch reflects Rank’s broader strategy of modernising Africa’s long-standing communal savings culture with technology, offering an alternative to conventional lending for millions who remain excluded from…

The CBN is introducing a new digital system to track every dollar sold by Bureau De Change (BDC) operators, marking its latest effort to tighten oversight of the country’s retail foreign exchange market. Under new operational guidelines issued on July 15 to authorised dealer banks and licensed BDCs, the apex bank unveiled a centralised electronic platform that will monitor foreign exchange transactions from the moment a BDC requests dollars from a bank until those funds are sold to customers. Known as the FX BDC Purchase Tracker (FXBT), the platform will require BDC operators to submit transaction data in real time…