Author: Insider Editor

Nigeria’s Securities and Exchange Commission (SEC) is set to accelerate the issuance of crypto licenses in 2025, aiming to establish a clearer regulatory framework for the country’s fast-growing digital asset market. The move is part of the regulator’s broader efforts to enhance consumer protection, curb fraud, and foster a more structured crypto ecosystem. Since launching the Accelerated Regulatory Incubation Programme (ARIP) in June 2024, the SEC has granted provisional licenses to two Nigerian crypto startups, Quidax and Busha. At a workshop in December 2024, the Commission signaled plans to “move a lot quicker” in issuing additional approvals this year, according…

Francophone Africa is an increasingly attractive market for startups due to its growing middle class with disposable income. Companies like MDaaS, a healthcare startup, and Omniretail have recently expanded into the region. Additionally, Ivorian fintech HUB2 raised $8.5 million in Series A funding in 2024 to fuel its regional expansion. Startbutton, a Norrsken-backed startup that helps businesses expand internationally without physical offices, is launching in seven Francophone African countries—Benin, Togo, Senegal, Mali, Guinea Conakry, Burkina Faso, and Cameroon. This expansion enables companies to enter these markets seamlessly while accepting local payments without setting up a local entity. Despite these opportunities,…

Ghana’s mobile financial ecosystem continues to expand at an unprecedented rate, with the total value of transactions made via mobile devices soaring to GH¢3.02 trillion ($196.7 billion) in 2024. This marks a 51.76% increase from GH¢1.99 trillion ($130.53 billion) in 2023, according to data from the Bank of Ghana (BoG). Massive Growth in Mobile Money Adoption The aggregate volume of mobile transfers in 2024 also surged, reaching eight billion transactions, highlighting the accelerated shift toward cashless payments. Additionally, the number of registered mobile money accounts grew from GH¢65.6 million ($4.29 million) in December 2023 to GH¢73 million ($4.79 million) by…

MTN Zambia has launched ‘Call Natasha,’ a new initiative aimed at reducing customer wait times and improving service efficiency. The telecom giant is leveraging automation and AI-powered assistance to streamline customer interactions, ensuring faster resolutions and a more seamless experience. With ‘Call Natasha,’ MTN Zambia aims to address common customer concerns—such as account inquiries, data balance checks, and troubleshooting—without long hold times or the need for human agents. The system is designed to handle high volumes of requests while ensuring customers receive quick and accurate responses. “We understand that time is valuable. ‘Call Natasha’ is part of our commitment to…

TradeDepot, a leading B2B e-commerce platform connecting FMCG manufacturers with retailers, is making a bold move into food manufacturing with the launch of Mangrove. This new venture will produce and distribute essential food items such as sardines, rice, flour, peas, and canned fish—offering consumers affordable alternatives amid rising inflation and the devaluation of the naira. Although Mangrove has yet to officially launch, it is already attracting distributors through its website. By sourcing high-quality products at lower costs, TradeDepot aims to bypass the “brand tax”—the premium consumers pay for well-known labels—ensuring that essential food items remain within reach for more Nigerians.…

Cascador, a growth accelerator program, is providing Nigerian entrepreneurs with $50,000 in funding and mentorship to scale their businesses. The initiative aims to equip founders with the resources, strategic guidance, and network needed to drive long-term success in Nigeria’s competitive business landscape. By combining financial support with expert coaching, Cascador is fostering innovation and sustainability among high-impact entrepreneurs, strengthening Nigeria’s startup ecosystem. Cascador is deepening its commitment to Nigerian entrepreneurs by offering $50,000 in support, including funding, mentorship, and an upgraded training curriculum. Designed for founders tackling societal challenges through for-profit ventures, the program focuses on leadership development, financial acumen,…

Nigeria’s Central Bank has mandated the Nigeria Inter-Bank Settlement System (NIBSS) to directly debit banks for fraudulent transactions, reinforcing stricter accountability measures in the financial sector. This directive aims to curb fraud and ensure banks take greater responsibility for securing their payment systems. By holding banks financially accountable for fraudulent activities, the CBN is tightening oversight and pushing for stronger fraud prevention mechanisms across Nigeria’s banking ecosystem. In a bold move to tighten accountability, the Central Bank of Nigeria (CBN) has directed the Nigeria Inter-Bank Settlement System (NIBSS) to immediately debit banks and fintechs for fraudulent transactions passing through their…

South African fintech Stitch has acquired ExiPay in a strategic move to enter the in-person payments space. Known for its expertise in digital payments and financial infrastructure, Stitch is now broadening its reach to include physical transactions, strengthening its position in the evolving fintech landscape. With this acquisition, Stitch aims to provide seamless payment solutions across both online and offline channels, catering to a wider range of merchants and consumers. This move signals the company’s commitment to building a more integrated and versatile payment ecosystem in South Africa and beyond. South African fintech Stitch is making a bold move into…

Lemfi, a financial services platform catering to immigrants in 22 countries, has officially acquired Irish currency exchange Bureau Buttercrane, a move that strengthens its regulatory position and accelerates its European expansion. With approval from the Central Bank of Ireland, Lemfi can now operate across the European Economic Area (EEA) using passporting rights, unlocking new growth avenues. This acquisition is a strategic response to post-Brexit regulatory hurdles. While Lemfi already secured a UK license in 2021 through its acquisition of RightCard, it couldn’t process European transactions directly—until now. “Rather than focusing on Buttercrane’s tech stack or profitability, the acquisition was driven…

Africa Tech Summit Nairobi is excited to announce that Raenest, the innovative Nigerian fintech platform, will return as the headline sponsor for the second consecutive year. This partnership reaffirms Raenest’s commitment to supporting the growth and collaboration within Africa’s dynamic tech ecosystem. The seventh edition of the Africa Tech Summit Nairobi, powered by Raenest, is scheduled for February 12th and 13th, 2025, at the Sarit Expo Centre. As the largest pan-African tech event in the region, the summit will bring together over 2,000 industry leaders, corporates, investors, and international delegations. The event will feature a dynamic mix of B2B networking,…