Starlink, which entered Nigeria in January 2023, ranks second among pure-play ISPs with 65K+ Nigerian subscribers in Q3 2024 due to reliable, high-speed access
Damilare Dosunmu / Rest of World :
Nigeria-based Moniepoint, which offers bank accounts, loans, and POS terminals, raised $110M led by DPI, sources say at a $1B+ valuation, after raising $55M
Company raises $110mn from investors including Google despite slowdown in fundraising for African start-ups
Nigeria's food delivery startups are attracting investors optimistic about the growing demand in a market that could more than double to $2.4B over eight years
Aanu Adeoye / Financial Times :
Research: African startups raised between $2.9B and $4.1B total in 2023, down from $4.6B to $6.5B in 2022, with Egypt, Kenya, Nigeria, and South Africa leading
TechCrunch :
How Spotify's on-the-ground work in Nigeria, like hiring local staff, contributed to the success of Afrobeats, which grew 550% on Spotify between 2017 and 2022
Damilare Dosunmu / Rest of World : X: @anupkaphle See also Mediagazer X: Anup Kaphle / @anupkaphle : How Spotify helped turn Afrobeats into a global phenomenon Read @tarykuh's reporting from Lagos. H...
Nigeria-based Tingo, which offers mobiles and credit to farmers, fell ~80% after Hindenburg alleged the Nasdaq-listed fintech is an “exceptionally obvious scam”
Report alleges that Nasdaq listed company is an ‘exceptionally obvious scam’ — Shares in Tingo Group more than halved …
FTX posed as a haven from tumbling currencies and inflation in Africa, where the company recruited users via glitzy events, $5 sign-up bonuses, and giveaways
Alexandra Wexler / Wall Street Journal : Tweets: @gksteinhauser , @sarahnemerson , @peterguest , @counternotions , and @drewhinshaw Tweets: Gabriele Steinhauser / @gksteinhauser : “For my community, ...
Nigeria's central bank slashes the daily ATM withdrawal limit from ~$337/day to ~$45/day in a bid to boost digital payments and eNaira digital currency adoption
Bloomberg :
Nigeria's eNaira digital currency, launched in October 2021, is used by less than 0.5% of Nigerians, leading the government to add incentives to aid adoption
Bloomberg :
Nigerian payments startup Flutterwave, which is valued at $3B, is facing allegations of a money laundering scheme worth up to $215M in Kenya
Abubakar Idris / Rest of World : Tweets: @restofworld , @restofworld , and @yinkawrites Tweets: @restofworld : Months after accusations of mismanagement and sexual harassment rocked the Nigerian fint...