Author: Insider Editor

Lipa Later, a leading Kenyan buy-now-pay-later (BNPL) fintech company, has been placed under administration as of March 24, 2025, after facing significant financial struggles and failing to secure additional funding. Joy Vipinchandra Bhatt from Moore JVB Consulting LLP has been appointed as the administrator, according to official announcements. The company’s financial troubles have been building for months, with reports saying that employees hadn’t been paid for nearly a year, highlighting the seriousness of Lipa Later’s cash flow problems. In addition to this, the company is dealing with unpaid debts, including a legal issue with Africa Foresight Group (AFG) over $13,000…

The Africa Stablecoin Consortium (ASC), the team behind Nigeria’s first regulatory-approved stablecoin, cNGN, has entered early talks with major African crypto exchanges Yellow Card and Roqqu to secure listings for the Naira-backed token. Although both companies have confirmed these discussions, neither has committed to listing the stablecoin just yet. Currently, cNGN is listed on two provisional Nigerian exchanges, Busha and Quidax. However, its expansion to more platforms, particularly those with a pan-African reach, is essential for driving adoption—especially for its remittance use case. Without firm commitments from significant exchanges, the stablecoin’s growth remains uncertain. This hesitation is a key challenge…

Baobab Group, a global financial services company with a loan portfolio exceeding $900 million, has fully acquired Baobab Nigeria, its local subsidiary. This move marks the first-ever exit for Alitheia Capital and Goodwell Investments from their jointly managed uMunthu Fund—and it’s a big win. The acquisition delivered a 3x return on uMunthu’s initial 2012 investment in Baobab Nigeria, formerly known as Microcred Microfinance Bank. Beyond just strong financial returns, this exit contributed to the fund’s 39.3% internal rate of return (IRR)—a key measure of annual investment profitability. A Rare Private Capital Exit in Africa The exit comes at a time…

A Nairobi court has thrown out a lawsuit filed by Davidson Ivusa, a Kenyan innovator who claimed Safaricom copied his idea for its “Reverse Call” feature. The ruling, delivered on February 27, 2025, ends a three-year legal battle and raises concerns about how corporations handle unsolicited ideas from independent creators. Ivusa alleged that in 2010, he pitched a concept called “Jichomoe” to Safaricom—a feature that would allow users to make calls without airtime. He claimed the telecom giant sat on the idea for years, only to roll out the service under a different name in April 2019, without his involvement.…

Yango Ventures has officially launched a $20 million fund to invest in African startups. The initiative aims to support innovative companies across the continent, providing capital to help them scale and grow. With this fund, Yango Ventures joins a growing list of investors betting on Africa’s tech ecosystem. The firm plans to back startups with high-growth potential, focusing on sectors that drive economic and technological advancement. Yango Group, a global tech company, has launched Yango Ventures, a $20 million corporate venture fund aimed at supporting high-potential startups across sub-Saharan Africa, Latin America, the Middle East, North Africa, Afghanistan, and Pakistan.…

MTN plans to invest between R5.7 billion and R6.7 billion ($303 million–$356 million) in its South African network this year, primarily to stay competitive in the prepaid market. While still a significant sum, it represents a reduction of R3.1 billion–R4.1 billion ($165 million–$217 million) compared to last year’s spending. Meanwhile, Vodacom is ramping up its investments, planning to inject up to R11.2 billion ($596 million) into its network. Maintaining top-tier network quality requires substantial investment. Building new towers, upgrading infrastructure, and deploying technologies like 5G and Carrier Combining (3CC) don’t come cheap. Over the past few years, MTN and Vodacom…

Telecom operators in Nigeria are exploring a shift from the current nationwide tariff system to a regional pricing model. This would allow them to adjust call and data charges based on the unique business challenges in different states. Essentially, states that impose higher operational costs on telcos may see increased telecom charges. At the 7th Policy Implementation Assisted Forum (PIAFo) in Lagos, industry leaders explained their rationale. Some states, they argue, are more business-friendly, while others impose multiple taxes and infrastructure restrictions. The Association of Licensed Telecommunications Operators of Nigeria (ALTON) Chairman, Engr. Gbenga Adebayo, stated that in states where…

Rumors have been circulating that 9Mobile is shutting down, but the company insists this is false. The speculation arose as frustrated subscribers reported poor service and difficulties switching to other networks, leading many to assume the worst. 9Mobile acknowledges ongoing challenges, particularly with Mobile Number Portability (MNP), the service that allows users to switch networks seamlessly. However, they maintain that they have not blocked anyone from leaving and are not going out of business. The company attributes these issues to technical glitches, describing them as “temporary challenges.” According to 9Mobile, most of these problems have already been resolved, though some…

Moneda Invest Africa has joined forces with meCash to transform Africa’s financial ecosystem, focusing on seamless payments and improved access to credit for small and medium-sized enterprises (SMEs). The partnership was officially unveiled at the Moneda Experience on March 14, 2025, in Lekki, Lagos, where the companies introduced their innovative financial solution, Musa. The event brought together key industry leaders, including Ejike Egbuagu, GCEO of Moneda; Modupe Diyaolu, Co-founder of meCash; Adebusola Adegbuyi, Co-founder and CTO of meCash; and Precious Ehihamen, Acting Managing Director of Moneda Technologies. Investors and members of the press were also present to discuss how Musa…

Adeniyi Abiodun, co-founder of blockchain infrastructure firm Mysten Labs, and his wife, Gloria Abiodun, have unveiled a $1.3 million endowment fund aimed at training African software engineers. The initiative tackles a critical talent gap in Africa’s fast-growing tech ecosystem, ensuring more developers gain the skills needed to thrive in global industries. The five-year fund, managed by Inurere Foundation, will provide student loans to aspiring engineers enrolled in the Techpreneurship programme at Semicolon Africa, a Nigerian workforce development company. Participants will learn advanced programming languages, including Move, which is widely used for smart contract development. Meedl Africa, a fintech company, will…