Paystack launches Zap, its first consumer-centric app
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
KCB Group acquires 75% stake in Riverbank Solutions for $15m
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.
UBA lost ₦1.14 billion to fraud in 2024
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
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
Nigeria’s NIBBS, Ceva, lobby Ruto to build Kenya’s new Fast Payment System (FPS)
Nigeria’s NIBBS, Ceva, lobby Ruto to build Kenya’s new Fast Payment System (FPS) and national digital ID programme, intensifying competition for one of Kenya’s most lucrative financial projects. In a letter to Ruto seen by TechCabal, Kenyan payment software provider, Ceva Limited requested a meeting to present Nigeria’s Interbank Settlement System (NIBBS)
Netumbo Nandi-Ndaitwah: From a Young Activist to Namibia’s First Female President
Netumbo Nandi-Ndaitwah’s inauguration as Namibia’s first female president on March 21, 2025, marks a significant milestone in the nation’s history. Her journey from a young activist to the highest office in the country is a testament to her dedication and resilience. Netumbo Nandi-Ndaitwah Biography Netumbo Nandi was born on 29 October
33 Startups in Kenya to Watch This Year
Kenya’s startup ecosystem has experienced remarkable growth in recent years, positioning itself as a leading hub for innovation in Africa. In this article, we highlight 25 startups in Kenya to watch this year, showcasing their innovative approaches and impact on various sectors. 33 Startups in Kenya to Watch This Year
Loan for Startup Business in Nigeria This Year
Starting a business in Nigeria presents a wealth of opportunities, given the country’s dynamic economy and entrepreneurial spirit. However, one of the significant challenges that startups face is securing adequate financing. Access to loans tailored for startup businesses is crucial for fostering innovation, creating employment, and stimulating economic growth. In
Best Banks for Small Business Startup Loans in Nigeria
Starting a small business in Nigeria requires not only a robust business plan but also access to adequate financing. Securing the right startup loan can significantly influence the success trajectory of a new enterprise. This article explores some of the best banks for small business startup loans in Nigeria with
Google’s Taara Lightbridge takes on Starlink with laser-powered internet
Alphabet, the parent company of tech giant Google, is picking up a fresh fight with Elon Musk’s Starlink as Google’s Taara Lightbridge takes on Starlink with laser-powered internet. Taara Lightbridge, a project originally developed under its X “moonshot” division, will become a standalone company, challenging Starlink in the race to connect underserved
