Author: Today Africa

Nigerian fintech with over 35 million users, PalmPay rolls out its debit cards in partnership with Verve, marking a major step in its evolution from a mobile wallet to a full-service digital financial platform. The move comes amid a broader shift by Nigerian fintechs toward local card schemes, as rising

Jumia, Jiji unfazed of Temu shaking up Nigeria’s $13 billion e-commerce market, luring shoppers with ultra-low prices and freebies. Since its Nigerian launch in November 2024, Temu has been aggressively courting customers with deep discounts, promotional giveaways, and promises of faster delivery. The company’s expansion strategy mirrors its playbook in

MTN and Airtel have signs an agreement to share network infrastructure in Nigeria and Uganda, a strategic move aimed at reducing rising operational costs while expanding mobile coverage to underserved areas. The rare collaboration underscores a broader shift toward cost optimisation among African telecom giants as currency devaluation and economic

AltSchool, a Nigerian edtech startup, is set to introduce hybrid learning programs through its new initiative, “Campus by AltSchool.” Known for offering online courses in software development, product development, and creative sectors, the company aims to improve course completion rates and strengthen the vibrant community it has cultivated. The program

Nigerian fintech Payhippo rebrands as Rivy, raises $4 million for clean energy financing in a pre-Series A round to focus on its clean energy financing business. The funding—split evenly between $2 million in debt and $2 million in equity—will help the company expand beyond Nigeria with its clean energy financing

Paystack launches Zap, its first consumer-centric app, which it says will allow easier and faster bank transfers. The company’s CEO, Sola Akinlade announced the launch at a special event Monday. According to Akinlade, instead of being another neo bank, Zap will allow Nigerians to link their existing bank accounts with

Kenya’s largest commercial bank by assets, KCB Group acquires 75% stake in Riverbank Solutions for $15.4 million (KES2 billion), a payments solutions startup, to strengthen its digital operation. The transaction awaits regulatory approval.  The acquisition marks KCB’s latest move to expand its footprint amid growing competition in Kenya’s banking sector. 

United Bank for Africa (UBA) lost ₦1.14 billion to fraud in 2024, even as the Nigerian lender reported a profit after tax of ₦766.6 billion ($493 million), according to its latest audited financial statements. The losses, primarily from electronic fraud and unauthorised transfers, highlight the ongoing battle Nigerian banks face against

Kenyan court dismisses lawsuit claiming Safaricom copied “Reverse Call” idea from Davidson Ivusa, a Kenyan innovator who accused Safaricom of copying his concept. The February 27, 2025 ruling seen by TechCabal brings to a close a three-year legal battle over one of Safaricom’s core services, raising questions about how big corporations handle