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Access Pensions has declared an impressive 70 percent surge in revenue, with turnover boosting from N7 billion in 2022 to N12.3 billion in 2023. As a result, its Assets Under Management (AUM) expanded by 25 percent to reach a significant…
In what could change the face of the Southern African fintech industry, influential NASDAQ-listed fintech firm Lesaka Technologies has bought the Cape Town-based Adumo, the market-leader in the payment processing field, for $85 million. The deal, a cash-and-equity transaction, reflects…
The Federal Government of Nigeria (FG) has commenced moves to carry out a fresh audit of the N2.7tn subsidy debt said to have been owed to the Nigeria National Petroleum Company Limited (NNPC). This fresh move to audit the ₦2.7tn…
The Federal Government of Nigeria has issued a directive mandate which insists that POS agents will register under CAC. This applies to all Point-of-Sale (POS) terminal operators, also known as POS agents. The move comes amidst growing concerns over fraudulent…
In an escalatory effort towards controlling naira volatility, the Nigerian government is taking a significant measure: FG is to ban naira from all peer-to-peer (P2P) crypto trading platforms. According to Securities and Exchange Commission (SEC) Director General Emomotimi Agama, the…
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to enforce compulsory 0.5 percent cybersecurity charges on all electronic transactions. CBN Implements Cybersecurity Charges In Financial Institutions This directive in a circular, signed by Chibuzor Efobi,…
Investing in start-ups has ensured the growth and expansion of many fintech businesses in Africa. One such start-up is Seamfix, a digital identity solution provider. Seamfix raises $4.5 million in funding from Alitheia IDF, a pioneering gender-lens fund investor. The…
It’s exciting to witness how start-ups are expanding across the African continent. BuuPass, a travel-booking start-up in Kenya, has revealed its expansion plans to other parts of the continent. BuuPass Buys QuickBus, a bus ticketing platform with operations in Nigeria…
NBA has launched the NBA Accelerator program in Africa. It is termed the “Triple Double Startup Accelerator in Africa”. NBA Africa aims to provide capital and mentorship as part of the initiative to support African start-ups. The African tech ecosystem…
In what comes as a major shock to Nigeria’s fast-rising cryptocurrency sector, two of the country’s popular financial technology companies, Moniepoint and Paga, have revealed plans to restrict access to the accounts of customers found to be guilty of carrying…
