Author: Insider Editor

Luno is expanding beyond basic crypto trading, starting with the launch of prediction markets in South Africa and Nigeria, two of its key African markets. The feature, developed in partnership with Limitless, allows users to place short-term bets on whether major cryptocurrencies like Bitcoin, Ether, and Solana will rise above or fall below a set price within 24 hours. Users who predict correctly earn a payout, while those who don’t lose their stake. This launch marks the first step in Luno’s broader push into derivatives and its ambition to become an all-in-one investment platform. It builds on earlier offerings like…

Kenya is set to criminalise the use of “high-risk” artificial intelligence (AI) systems without state approval, a move that could slow product launches and raise legal stakes for startups. The proposed rules would cover AI tools used in credit scoring, biometrics, health diagnostics, and other applications that directly affect access to money, jobs, and services. A draft Artificial Intelligence Bill 2026, sponsored by Senator Karen Nyamu, states that “a person shall not develop, deploy or operate a high-risk artificial intelligence system without the approval of the commission.” Violations could result in fines of up to KES 5 million ($38,000) or…

Ride-hailing company Uber has partnered with Ghanaian fintech Fido to provide instant loans to drivers on its platform, in a move aimed at easing the financial pressure many face on the job. Through the partnership, eligible drivers can access loans of up to GH₵10,000 ($920) via Fido’s digital platform, without collateral or extensive paperwork. The process is designed to be fast, giving drivers quick access to funds for daily operational needs. The initiative comes as ride-hailing drivers in Ghana continue to grapple with rising costs. Fuel prices, vehicle maintenance, and platform commissions have steadily reduced take-home earnings, leaving many drivers…

Many young graduates and career switchers struggle to transition from education to employment, often facing a lack of guidance, mentorship, and clarity on the right career path. PivotWings, a new career development platform, aims to address this challenge by providing structured support, practical tools, and access to experienced professionals. The platform combines AI-enabled learning environments with curated video lessons and specialised learning materials, alongside structured, cohort-based programmes led by industry experts. This approach helps users identify their strengths, reposition their skills, and take deliberate steps toward meaningful career growth. PivotWings serves three primary user groups: The platform also encourages a…

The iDICE Startup Bridge has officially launched in Nigeria, offering a structured two-track support programme for early-stage and post-MVP startups. Idea-stage founders can access grants of up to ₦10 million ($7,215), while startups that have developed a minimum viable product (MVP) are eligible for $100,000 in equity investment. Applications for the first cohort are now open. The initiative is implemented through the Bank of Industry and funded by the African Development Bank, Agence Française de Développement, and the Islamic Development Bank. It forms part of the federal government’s broader Investment in Digital and Creative Enterprises (iDICE) programme, which is tied…

The Nigerian subsidiary more than doubled its profitability in 2025, according to the group’s full-year financial results released on Monday. MTN Nigeria reported $1.926 billion in Chief Operating Decision Maker earnings before interest, tax, depreciation and amortisation (CODM EBITDA) in 2025, up from $946.59 million in 2024. The 103.4% year-on-year increase represents one of the sharpest earnings jumps across MTN’s major markets. CODM EBITDA is the profit metric used by MTN’s senior management to evaluate the performance of its operating markets. It measures earnings before interest, tax, depreciation and amortisation. The surge in Nigeria’s earnings pushed it well ahead of…

Kenya is preparing to tighten its fight against online piracy, with a proposed copyright law that would allow courts to order internet service providers to block websites illegally livestreaming sports, concerts, and other entertainment events. A draft was published by the Kenya Copyright Board for public comment in March, introduces new rules that would allow courts to direct ISPs and online platforms to restrict access to websites hosting pirated streams. The proposal focuses strongly on live broadcasts, where delays in enforcement can wipe out the value of broadcast rights. By the time an illegal stream is removed, the event may…

KCB Group is awaiting regulatory approval to acquire a stake in regional payments startup Pesapal, as the bank expands into merchant payments across East Africa. Chief executive Paul Russo announced the planned acquisition during an investor briefing in Nairobi on Wednesday, highlighting the bank’s strategy to drive its next phase of growth. “We are waiting for regulatory approval [to complete the acquisition,” he said. The move comes as banks across East Africa seek a larger share of digital transactions increasingly processed by fintechs rather than traditional lenders. KCB already processes 99% of its transactions through digital channels. Russo said the…

Central Bank of Nigeria has formally recognised artificial intelligence as a tool for fighting financial crime, introducing new rules that require banks, fintechs, and payment companies to deploy automated anti-money laundering (AML) systems. The guidelines, released Tuesday, mark the first time the regulator has explicitly written AI and machine learning into Nigeria’s AML framework. The move pushes financial institutions away from largely manual compliance processes toward technology-driven monitoring. The shift reflects how quickly Nigeria’s financial system is becoming digital, with mobile banking, fintech platforms, and instant payments expanding rapidly. “As financial services become increasingly digitised and complex, manual AML/CFT/CPF controls…

Larry Madowo sparked debate about Nigeria’s visa policy after he said he paid $80 for a single-entry visa at Murtala Muhammed International Airport. In the viral clip posted on X, Madowo questioned why Nigeria charges visitors fees that many African countries do not. Later, Nigerian officials signed an agreement to host the Intra-African Trade Fair 2027 in Lagos, one of the continent’s largest commerce gatherings aimed at boosting trade across Africa. The ceremony was led by Jumoke Oduwole and attended by former president Olusegun Obasanjo, who chairs the fair’s advisory council. Executives from African Export-Import Bank, including George Elombi and…