Nigeria Slaps Binance with $10bn Fine for ‘Illegal Transactions’
Nigeria fines Binance $10 billion, a global cryptocurrency exchange. Bayo Onanuga, President Bola Tinubu’s special adviser, announced the news in a BBC interview Friday morning. This fine comes amidst an ongoing government investigation into cryptocurrency activity in the country. Two Binance executives, who flew into Nigeria in response to mounting
17 Failed Startups in Africa in Recent Years
In recent years, we have witnessed failed startups that have shut down in Africa and went under with over $200 million investor funds. While the companies caved in under different circumstances, their exit is already raising concerns over the fate of many young innovative companies that are nursing the ambition
Kenya’s Equitel Becomes Africa’s First MVNO to Launch 5G Services
Equitel, the mobile virtual network operator of Finserve, a fully-owned subsidiary of Kenya’s largest retail bank Equity Group Holdings (formerly Equity Bank Group), in collaboration with Airtel, has launched its fifth-generation connectivity service. It is the first time an MNVO (Mobile Virtual Network Operator) is treading the 5G path, not
Nigerian Debt Recovery Startup, Bfree Secures $2.95 Million Funding
Bfree, a leading ethical credit manager platform, has secured $ 2.95 million in funding to enhance its suite of risk management solutions. The round, led by Capria Ventures, welcomed a consortium of esteemed investors, including Angaza Capital, GreenHouse Capital, Launch Africa, Modus Africa, Axian CVC, and angel investors. Founded in
15 Startup Success Stories: From Ideas to Millions
What is it about startup success stories that’s so inspiring? Is it the founder’s determination, vision, and grit to persevere through tough times? Is it the ingenuity of noticing a market opportunity and acting on it? Or is it the leap of faith into risky territory, betting on an idea
Inspiring Startup Stories of 6 African Entrepreneurs We Interviewed
This is first edition of startup stories highlight. We understand that in the world of entrepreneurship, where the road ahead is often uncertain and challenging, startup stories serve as guiding lights. They remind us that even the most celebrated business personalities faced struggles, rejections, and setbacks before achieving greatness. These
Shecluded, a Nigerian Fintech Empowering Women Entrepreneurs in Africa
Ifeoma Uddoh is a social entrepreneur and the founder of Shecluded, a female-focused venture company dedicated to creating economic prosperity for women through access to financial services. Her journey is inspirational, especially considering the personal experiences that motivated her to start Shecluded. Her story of witnessing her mother’s struggles after
Mastercard Partners with Awash Bank to Launch Enhanced Payment Options in Ethiopia
With this new development, customers can now make contact or contactless transactions at ATMs and PoS using a plastic card. The plastic card allows users to withdraw cash from ATMs, make payments at point-of-sale terminals, and shop online at any merchant accepting Mastercard globally. Meanwhile, the virtual card enables them
Ifeoma Uddoh, a Social Entrepreneur Creating Economic Prosperity for Women
Ifeoma Uddoh is a social entrepreneur and the founder of Shecluded, a female-focused venture company dedicated to creating economic prosperity for women through access to financial services. Her journey is inspirational, especially considering the personal experiences that motivated her to start Shecluded. Her story of witnessing her mother’s struggles after
A Fresh Crypto Crackdown is Brewing in Nigeria
The love-hate relationship between Nigerian financial authorities and the country’s crypto exchange platforms is not going away anytime soon. Under a new move to control a currency crash, the government is reportedly scapegoating digital currency exchanges, with plans to shut them out, yet again. Though the regulators, the Nigerian Communications
