Author: Insider Editor

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…

Stitch, a South Africa-based payments infrastructure startup founded in 2021, has successfully raised $55 million in a Series B funding round, bringing its total funding to $107 million in just four years. The funding will accelerate the company’s expansion into in-person payments, enhance its online payment suite, and support its entry into card acquiring. Led by QED Investors, the funding round also saw participation from Norrsken22, Flourish Ventures, and Glynn Capital, with notable angel investors, including comedian Trevor Noah. Existing investors such as Ribbit Capital, PayPal Ventures, Firstminute Capital, and The Raba Partnership also contributed to the round. In a…

A group of Nigeria’s largest banks saw a 58% surge in electronic payment revenues in 2024, as digital transactions reached an all-time high, according to their latest financial reports. The jump reflects the growing reliance on mobile apps, card usage, and digital transfer channels, signaling a major shift in how Nigerian banks are making money. Collectively, Access Holdings Plc, Guaranty Trust Holding Company (GTCO) Plc, United Bank for Africa (UBA) Plc, Zenith Bank Plc, First HoldCo Plc, Wema Bank Plc, Stanbic IBTC Holdings Plc, FCMB Group Plc, Sterling Financial Holdings Company Plc, and Fidelity Bank Plc raked in ₦674 billion…

Nigeria’s growing tech ambitions took center stage this week at GITEX Africa in Morocco, as the country positioned artificial intelligence (AI) and cybersecurity as central to its vision for digital transformation—not just for itself, but for the entire continent. Leading the charge was the National Information Technology Development Agency (NITDA), whose Director General, Kashifu Inuwa, laid out a case for integrating AI into leadership and policy frameworks across Africa. AI is shifting the skills we value and the way we work,” Inuwa said during a keynote panel on April 15. It’s an ambitious vision for a country still grappling with…

Zimi a South African electric vehicle (EV) charging startup has raised $320,000 (R6 million) in grant funding from the Energy and Environment Partnership (EEP Africa Trust Fund) to pilot its vehicle-to-grid (V2G) technology—a system that enables EVs to send power back to homes, businesses, or even the national grid when demand spikes. Zimi was one of just 32 projects selected from over 530 applicants in EEP Africa’s latest funding round. The initiative, backed by one of the leading clean energy financiers in Southern and East Africa, is especially timely in a country where load shedding and grid instability are daily…

The Central Bank of Kenya (CBK) and the National Treasury have granted approval for Access Bank’s acquisition of the struggling National Bank of Kenya (NBK), nearly a year after the Nigerian lender initially expressed interest in the deal. However, the transaction is still awaiting approval from Nigerian authorities. In a public notice issued on Monday, CBK confirmed that both the bank and Treasury Cabinet Secretary John Mbadi had endorsed the acquisition, bringing Access Bank a step closer to taking control of NBK. The acquisition could significantly enhance Access Bank’s presence in Kenya, especially given NBK’s extensive branch network across the…