Author: Today Africa

Safaricom’s M-PESA decline continues for the fifth consecutive quarter, weighed down by increased interoperability and Airtel Money’s aggressive promotions, including transaction fee refunds as airtime.  M-PESA’s market share fell by 2.3 percentage points to 91% in Q4 2024 compared to Q3, while Airtel Money grew from 7.6% to 8.9% in the

MTN and Airtel accounted for 57% of IHS Towers’ revenue in 2024, highlighting its heavy reliance on a handful of key customers in its largest market. Nigeria, which contributed 58.3% of IHS Towers’ total earnings, remains the dominant revenue driver for the world’s fifth-largest multinational tower company.  IHS Towers’ revenue

In South Africa, borrowing money has traditionally been the primary  way to build a good credit score. But a startup called Pokkit Score (Pokkit), founded in 2023, is providing a new way. Instead of relying on debt, Pokkit helps people improve their credit scores using their savings. This approach seeks

Nigerian crypto startup, Quidax joins Busha to list SEC-regulated cNGN stablecoin after receiving a provisional licence in August 2024. The move, which comes a month after another provisionally-licenced crypto startup Busha listed the cNGN, underscores Nigeria’s evolving approach to crypto regulation, balancing oversight with the growing adoption of digital currencies. The March 12

Nigerian tech training institute, Decagon pivots business model away from tech education, according to sources familiar with the matter. The company, which previously specialised in software engineering training, will now concentrate on assisting learners in gaining admission to master’s programmes abroad. Founded by Chika Nwobi in 2018, Decagon launched its first

Flutterwave expands Ghana operations with key remittance service approval, this development follows acquisition of an Enhanced Payment Service Provider Licence from the Bank of Ghana in August 2024. The licence authorised the company to provide a comprehensive suite of payment services, including direct merchant acquiring, issuance of electronic money, and provision of

Nigerian food procurement startup, Vendease switches to a performance-based pay system after laying off 44% of its team, about 120 employees, per TechCrunch. Instead of fixed salaries, employees will earn based on performance, with an Equity Share Option Plan (ESOP) thrown in. The goal? To keep the business afloat and

Elon Musk’s Starlink becomes Kenya’s 7th largest internet service provider (ISP), overtaking established local rivals like Dimension Data and Liquid Telecommunications Kenya just six months after breaking into the country’s top ten. The satellite broadband provider now has 19,146 users—up from 16,786 three months earlier—capturing 1.1% of Kenya’s internet market, according to

Kenyan insurtech company, Turaco’s bet on M-KOPA’s smartphones expands insurance reach to over 1 million customers with less than $2 premiums. This latest partnership with M-KOPA–a pay-as-you-go financing startup–marks its biggest move yet. By embedding microinsurance into M-KOPA’s smartphone offerings, the company has bet on a tech-driven approach to tackling Kenya’s