“If not for ChatGPT, where would I be?”: How Nigerian university students are using AI
If you ask any Nigerian university lecturer today, they’ll likely say the same thing: students use AI for everything—assignments, class discussions, even job applications. But maybe, just maybe, AI isn’t the enemy. At least, that’s what some students at Covenant University (CU) think. To find out how AI and tech tools are shaping academic life and future careers, I asked students and alumni of the Nigerian private university how they’re using AI and how they think it could help them later in their careers. Ironically, and maybe predictably, some used AI to respond to my questions. Here’s what they had to say. “If not for ChatGPT, where would I be?” Toyosi, a Mass Communication graduate from Covenant University (class of 2020) who’s now studying for an MBA elsewhere in Nigeria, didn’t mince words. “If not for ChatGPT, where would I be?” she wrote via WhatsApp. “AI has helped me to understand schoolwork. It doesn’t mean I don’t do the work; it just makes the process faster since there’s barely time to read, analyse, and come up with solutions.” For many students like Toyosi, the appeal of AI isn’t laziness; it’s efficiency. Error Code Sam, a postgraduate Economics student at CU, has a similar story—though with a caveat. “Recently, I wanted to draw a chart. I had my data compiled and ran it through ChatGPT. It gave me an error code: it couldn’t process it further,” he said. “AI and the tech ecosystem don’t always give perfect answers to all questions dumped in the chat box.” Funmi, another postgraduate student, said the solution is to balance technology with actual reading and critical thinking. Using AI to talk about AI? Covenant University doesn’t take AI use lightly. Assignments and dissertations are checked for plagiarism using Turnitin and other AI detection tools. Despite this, students continue to lean into AI, even using it to respond when I asked about their AI use. One response I got read like it had been plucked straight out of a chatbot: “Technology and AI will play a key role in chemical engineering by optimizing complex processes, limiting costs, and enhancing sustainability. AI can analyze vast experimental data, predict results, detect faults, and guide real-time decision-making.” It’s not a surprise that AI detection tools often flag students’ writing. Dami, a postgraduate Microbiology student, ran her original essay through an AI detector and was told it was 30% AI-generated. “But I wrote it myself!” she said. Last year, there was an uproar on the Nigerian Twitter space when a British-American influencer accused a Nigerian of using AI to write an email because he used the word “delve”. Dami’s use of similar words might be the reason the AI detector flagged her work. This is one of the reasons very few students like Dami shy away from using AI. The future of work Tomiwa, a 400-level Biotechnology student, believes AI will be a powerful tool for scientists. She says it can help generate alternative methodologies to biotechnological processes, lighten research workload, and even reduce the mental fatigue that comes with lab work. Still, too much reliance on AI could make human input seem less valuable. On the other side of the world, Bolu, a CU alumna now working as a psychologist in the US, says AI is already making a difference in therapy delivery. She explains that in the near future, some clients would rely more on AI for therapy when they can’t afford a session or struggle with social interaction. Bolu uses AI tools for note-taking and tracking her clients’ progress, and shares concerns about AI replacing jobs like hers. In a recent interview, Microsoft co-founder Bill Gates said AI would soon replace many professionals. Like Bolu and Gates, Dami believes AI could lead to lower pay and fewer jobs in the long term. Who gets the credit? Here is where the trouble lies: If AI can take the credit for your cold email and your school assignment, why can’t it take credit for your job? Maybe when this dawns on students, they would have a new approach to AI. Then, sadly, only few students might be able to relate to Toyosi’s “If not for ChatGPT, where would I be?” question in the future. They need to start learning new ways to get the credit, and they need to learn it fast. Maybe the real problem isn’t that students are using AI, but that we’re not talking enough about how they should be using it. The students who learn to use AI wisely now could be the ones who stay relevant tomorrow in their careers, just like Gates predicted in his interview.
Read MoreTrump’s tariff on Nigeria’s ₦309 billion non-oil exports could affect bank earnings
This article is part of TechCabal’s ongoing coverage of the impact of Trump’s tariffs on Africa’s technology landscape. President Donald Trump’s 14% tariff on Nigerian exports, such as cocoa, fertilizers, and ginger, could have unintended consequences for Nigeria’s banking sector. Although currently on hold for 90 days, the tariff could impact trade finance, a key source of revenue for banks. Major Nigerian banks, including First Bank, Access Bank, and Nigerian Export-Import Bank (NEXIM), are heavily involved in trade finance, providing services, including credit, payment guarantees, and insurance, to both domestic and international importers and exporters. According to the African Development Bank Group (AfDB), trade activities generate almost 15% of total bank income. Under the African Growth and Opportunity Act (AGOA) legislation, Nigerian exporters enjoyed duty-free access for non-oil sectors like agriculture and manufacturing. That window has now closed, leaving Nigerian exporters—and their financiers—exposed. With trade volumes likely to dip as U.S. buyers pull back, banks that offer trade finance services could see their margins squeezed. “Trade financing is one of the revenue earners for the banks. The inflow of FX is more important to the banks than the interest they will get from giving out credit,” said a former head of Trade and Exchange department at the Central Bank of Nigeria (CBN), who asked not to be named. He added that banks are primarily interested in export activities because they result in an inflow of FX through the exporters’ domiciliary accounts. “These banks are always looking for abundant FX inflow so that they can meet their obligation to sell to willing buyers.” Nigeria mainly exports crude petroleum and petroleum gas to the US. Besides energy-related products, the country also exports nitrogenous fertilizers, cocoa beans, ginger, oil seeds, and oleaginous fruits. Data from the National Bureau of Statistics (NBS) shows that non-oil exports more than tripled to ₦309.1 billion ($196.6 million) in 2024 from ₦86.4 billion ($54.9 million) in 2023. With the added cost of tariffs, US importers may reduce or delay purchases from Nigerian suppliers. This would slow the volume of trade finance transactions, leading to fewer letters of credit, reduced foreign exchange, and a shrinking pipeline of trade-related revenues for banks. Fewer dollars depreciate the value of the naira, which has been relatively stable since December 2024 until recent weeks. A weaker naira also increases the cost of imports, fueling inflation and complicating banks’ risk management. “Trade finance will be a major change for the banks,” Tajudeen Ibrahim, director of research and strategy at Chapel Hill Denham, said. At the Nigeria Foreign Exchange Market (NFEM), the naira had been depreciating to ₦1,639.3 per dollar on April 9, 2025, from ₦1,531.6 on April 2. The CBN responded by injecting $197.71 million through sales to authorised dealers to support the naira. Ibrahim argued that banks should take advantage of the weak naira, which has boosted exports from other African countries. “Intra-African trade is the key to Africa’s future,” he said. “By increasing regional trade transactions, we can reduce our dependence on countries outside the continent.” As Nigerian banks brace for the ripple effects of Trump’s tariff on non-oil exports, the real risk is the erosion of a key foreign exchange pipeline and a vital source of earnings. But there’s also a chance to deepen intra-African trade ties, diversify risk, and future-proof trade finance strategies beyond the whims of US policy.
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👨🏿🚀TechCabal Daily – Tariffs? not our problem
In partnership with Lire en Français اقرأ هذا باللغة العربية You’ve made it to Thursday! It’s almost the weekend, but we are nowhere near the end of seeing or hearing about the US tariff wars. If we get a dollar for every time we see the US tariff wars in the news cycle, we might as well not be writing this newsletter and lounging on an island. Here’s also what you should keep top of mind: Hertitude is a safe space for women to celebrate, connect, and dance the night away after the stress of Q1 2025. Get tickets for yourself and loved ones at 20% off when you use the code TECHSIS25. Let’s get into today’s edition. Telecoms untouched by Trump’s tariff—still touched by inflation, though Kenya’s Central Bank continues its rate-cutting spree in March Is regulated blockchain technology where payments are headed in Nigeria? Argue for or against World Wide Web 3 Opportunities Telecoms Telecoms untouched by Trump’s tariff—still touched by inflation, though President Trump’s “Who’s the man?” pose—he’s really the man right now/Image Source: Brandon Bell/Getty Images Nigeria’s telecom sector is likely to dodge the 14% US export tariff. Why? Because they import almost everything. “It won’t affect the industry much because the operators import everything they use directly,” said Tony Emoekpere, basically saying, “We don’t export, so we’re chill.” But before the industry pops champagne, telecom leaders are eyeing the ripple effects like a suspicious WhatsApp voice note. If Nigeria’s non-oil export revenue drops, it could mess with foreign exchange reserves, inflate prices, and make importing those shiny telecom gadgets more expensive. Gbenga Adebayo of ALTON threw in a cautionary “but wait,” noting international call rates could get pricier if the US starts taxing calls like they’re luxury goods. Add inflation and budget-conscious customers, and it’s a recipe for telecom headaches—minus the free data. Operators, not known for subtlety, recently hiked service tariffs by 50% to keep the lights on and maybe fix that “network unavailable” message we all love. But consumers aren’t buying the “better service incoming” pitch, especially when the connection still ghosts mid-call. In short, while the tariff didn’t land a direct punch, the economic side effects are lurking like bad reception during a storm. Luckily, the Nigerian government is stepping into negotiation mode—hopefully with better signal strength than the average smartphone in rural areas. Seamless Global Payments With Fincra. Issue accounts in NGN, KES, EUR, USD & more with one integration. Send & receive funds seamlessly across borders; no more banking hassles or complex conversions. Create an account for free & go global today. Economy Kenya’s Central Bank continues its rate-cutting spree in March The Central Bank of Kenya (CBK) building in Nairobi, Kenya. IMAGE | COURTESY In its continuous march to stimulate economic growth and encourage private sector lending, the Central Bank of Kenya (CBK) cut its benchmark interest rate to 10% yesterday. The 75 basis points cut is the country’s fifth consecutive rate cut, surpassing the expectations of economists who had anticipated no change. The CBK’s decision comes against a backdrop of rising non-performing loans (NPLs), which have reportedly reached a record high of KES 700 billion ($5.4 billion). By lowering the policy rate, the CBK wants to encourage banks to follow suit and cut lending rates, extending more credit to the private sector and stimulating economic activity. The CBK has made it cheaper and more predictable for banks to borrow money from each other. It reduced the gap between its benchmark interest rate and the rates used for short-term lending, helping to keep borrowing costs steady. The rate cut presents both an opportunity and a challenge for lenders. On one hand, lower interest rates can lead to increased borrowing, potentially increasing their loan books and profitability. On the other hand, the surge in bad loans could make banks cautious about giving out credit to prevent losses. However, with the CBK trying to enforce compliance, it is more likely that banks will choose to assess risks more carefully than cutting credit. In the broader economy, the CBK maintains its 2025 economic growth forecast at 5.4%, up from 4.6% in 2024. Inflation remains low and stable at 3.6% in March, within the target range of 2.5%-7.5%. Introducing Zap by Paystack! Zap is Paystack’s first consumer-facing app designed for simple, fast and secure payments via bank transfer. Download Zap on Android and iOS → Blockchain Is regulated blockchain technology where payments are headed in Nigeria? Argue for or against Obi Emetarom, Zone CEO/Image Source: Kapital Afrik Where do you think payments in the financial services sector are headed? Here’s the roll call of popular options: contactless payments and Nigeria Quick Response (NQR) codes. Few people will mention blockchain-based payments. Save for stablecoins, which is currently gaining popularity, the opportunities for crypto and blockchain technology payments have been slim, especially in Africa. But if you ask Obi Emetarom, CEO of Zone, the future of payments—and the technology that will build it—is regulated blockchain. A regulated blockchain enables payments to flow through a network rail, providing banks and fintechs with transparent access to payment records on a shared ledger. Without the bureaucratic process involved in exchanging information between one another, it will allow transaction settlements to become quicker. In addition, it doesn’t take away control and oversight from regulators, making the technology a key selling point for the government. Regulated blockchains are faster, safer, and provide better oversight against non-compliance with money movement rules that have been a bane for many regulators and even some financial service providers. Nigeria has already dipped its toes into blockchain waters before when it created the eNaira, but according to Emetarom, we’re now at a tipping point where regulated blockchain can improve how money moves in the country. Yet, the lack of proven success models could make it harder for regulators to say yes to the technology. While some countries have adopted regulated blockchain in parts of their payment systems, they’ve not been transparent about how it
Read More“Regulated blockchain is the next step of evolution in financial services” — Zone’s Obi Emetarom
On March 12, 2025, Mohammed Idris, Nigeria’s information minister published an opinion piece on Cointelegraph, a crypto-focused publication, where he sounded clearly that the country is taking a more receptive approach to blockchain technology. “Nigeria sees blockchain technology as more than just crypto trading,” wrote Idris in that report. “Blockchain can be a powerful governance, transparency, and service delivery tool. Conversations are underway on how blockchain can improve public systems, such as land registries, identity management, and supply chain monitoring.” While Nigeria has previously taken a shut-out stance toward cryptocurrency, it has always reacted differently to blockchain, the technology that enables crypto. In 2021, it launched the eNaira, Africa’s first Central Bank Digital Currency (CBDC), which failed to gain traction. In 2023, it approved a National Blockchain Policy in an attempt to integrate blockchain technology into various sectors of its economy. Through the National Information Technology Development Agency (NITDA), it has also provided scholarships to help talents build expertise in emerging technologies like blockchain. Yet, the country’s greatest test will be to absorb the technology into its financial payments ecosystem. The opportunity lies in using blockchain to build a trusted infrastructure for digital transactions without losing oversight. Regulated blockchains—also called permissioned blockchains—are digital ledgers with access controls that only allow approved participants to engage in the network. Unlike public blockchains that anyone can join, regulated blockchains are often managed by a consortium or central authority, making them more attractive to financial institutions and regulators. They’re used in the European Union, Singapore, and the UAE for different purposes, including to facilitate transaction settlements, support digital identity management, register lands, and store health and judicial records. There’s a push among local innovators for Nigerian regulators, banks, and other financial institutions (OFIs) to adopt regulated blockchain rails for faster, settlement fail-proof, and more transparent financial services. At the heart of this innovation is Zone, a Nigerian company building a payments infrastructure with blockchain technology. The company has been one of the early movers exploring how regulated systems could work locally. Since 2022, Zone has launched practical use cases for the technology to remodel traditional payment systems at automated teller machines (ATMs) and Point-of-Sale (POS) terminals. In 2024, it hit ₦1 trillion ($636 million) in transactions, showing adoption for its blockchain technology among the elite in Nigeria’s traditional financial ecosystem. On March 26, it released a white paper explaining how it sees regulated blockchain being used in financial services across Africa. Zone CEO Obi Emetarom spoke to TechCabal about the company’s heuristics for bringing its technology to payments and where financial services are heading to in Nigeria. This interview has been edited for length and clarity. What gave you the conviction that Nigeria needs a regulated blockchain, and why is now the right time? I don’t think about regulated blockchain technology as something that Nigeria particularly needs. It’s a globally applicable technology. Our scope of building one is not to restrict it to national utility. That said, a regulated blockchain is a more efficient system compared to traditional finance systems. It follows the next logical step of evolution of financial service technology since the days we’ve gone from trade by barter, to commodities, fiat money, and now, digital forms of payment. The timing is right because we have the technology needed to make this happen. Two major technologies underpin this evolution and are now widely available and improving. One is blockchain, which has been around for less than 20 years and continues to evolve. The other is Artificial Intelligence. Both technologies have matured to the point where we can now conceptualise how they enable the next phase of evolution in financial services. 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Read MoreNigeria’s import-driven telecom sector unaffected by Trump’s 14% export tariff
Telecom operators in Nigeria remain largely unaffected by the 14% tariff on Nigerian exports introduced by U.S. President Donald Trump. The reason is simple: the sector is import-driven, relying on equipment and infrastructure from China, the U.S., and parts of Europe. “It won’t affect the industry much because the operators import everything they use directly. They don’t export,” said Tony Emoekpere, President of the Association of Telecommunication Companies of Nigeria (ATCON), which represents internet service providers, tower companies, and data centre operators. However, the broader economic ripple effects of this trade policy may still pose indirect challenges. Shifts in foreign exchange earnings, inflation, and consumer spending patterns could impact telecom operators’ ability to manage rising operational costs and maintain service affordability. “There is no hardware that we export, but there might be issues with charging international calls by local operators. If the VAT on calls in the US increases, local operators will need to adjust to the rates,” said Gbenga Adebayo, President of the Association of Licensed Telecommunication Operators of Nigeria (ALTON), an industry group representing the biggest operators, including MTN Nigeria, Airtel Nigeria, Globacom, and 9mobile. After years of advocating for cost-reflective pricing, telecom operators in Nigeria recently raised service tariffs in response to soaring operational costs driven by inflation and a weakened naira. The tariff hike is intended to support investments in improved service quality. That goal, however, could have been compromised if the 14% U.S. export tariff introduced under the Trump administration had directly affected telecom operations. However, the 14% tariff is directed at non-oil exports. The U.S. is the second-largest buyer of Nigerian exports, with transactions amounting to ₦1.6 billion as of Q3 2024 and representing around 8.25% of total exports, according to data from the National Bureau of Statistics (NBS). While crude oil exports remain exempt, reduced inflows from non-oil exports could further strain Nigeria’s already volatile foreign exchange reserves. This, in turn, may increase the cost of importing telecom infrastructure, priced in foreign currencies. The U.S. tariff on Nigerian goods would make exports more expensive and less competitive, reducing demand in key sectors like oil, agriculture, and manufacturing. This could shrink foreign exchange earnings, further devalue the naira, and drive inflation. With rising costs and weaker consumer spending, telecom operators face growing pressure on revenue and profitability. Nigerian telecom operators recently implemented a 50% tariff hike to offset rising costs and maintain service delivery. While this move aims to encourage quality network provision and infrastructure investment, it has triggered consumer pushback over affordability. A further deterioration in economic conditions due to the U.S. export tariff could heighten this backlash as households reprioritise their spending. Despite recent tariff hikes, many Nigerian users still experience poor network quality and minimal service improvements. This disconnect, alongside rising economic pressures, may limit telecom operators’ capacity to reinvest in infrastructure. In a highly price-sensitive market, maintaining profitability while delivering better service will require a careful balance between cost recovery and customer retention. While Nigeria’s telecom sector seems unaffected by the direct effects of the U.S. export tariff, the indirect consequences pose significant risks that require careful planning and policy support. Fortunately for the industry, the Nigerian government is willing to negotiate with the United States
Read MoreIn Zimbabwe, Avalon Health’s AI drops patient wait times from 45 to 20 minutes
Zimbabwe has only two doctors per 100,000 people – far below the World Health Organisation’s guideline of one doctor per 1,000. Its public healthcare system struggles with inefficiencies. Specialists often juggle consultant roles in public hospitals with private practices, relied on heavily by low-to-mid-income urban communities. Traditional paper-based records and manual administrative workflows increase waiting times, potential for errors, and increase workload. Avalon Health, established in 2022, is alleviating these challenges for private practices in Zimbabwe. The startup’s AI-enabled platform helps doctors and clinics work more efficiently by handling tasks like scheduling appointments, managing patient records, processing billing, and turning doctors’ speech to ready-to-use documents. According to founder Panashe Madzudzo, health practitioners, once limited to seeing only 12–15 patients a day due to lengthy paperwork, are now able to efficiently care for up to 40 patients using its platform. Wait times have dropped from over 45 minutes to just 20 minutes, and clinics have seen a 25–40% increase in efficiency. “We also found that larger practices with frequent staff turnover needed easier training. AI-powered interface helps staff to simply tell the system what to do and it understands the intent and completes the task,” said Madzudzo. Additionally, Zimbabwe has a rich linguistic landscape where Shona is spoken by 75% of the population, Ndebele by 17%, and English by 89%. While English serves as the official language in formal contexts, most Zimbabweans rely on Shona or Ndebele for personal communication. Minority groups, comprising about 10% of the population, can communicate in either Shona or Ndebele. AI systems often face challenges in understanding and processing indigenous languages which can be used in patient-doctor interactions. Avalon Health’s platform’s translations has achieved 99% accuracy in English but still needs to improve its accuracy in Shona and Ndebele to effectively bridge the language gap. “We are actively training the platform on local languages such as Shona and Ndebele and currently stand at 75% accuracy, and plan to add more languages as we expand, including Zulu and Tswana for our South African clients,” Madzudzo explained. 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These prices cover up to five users, making it affordable for group practices. Patients use the patient portal for free. The startup serves over 7,000 patients through 100 doctors, predominantly in the capital city, Harare, and few clients in Bulawayo, Mutare, and South Africa. Avalon Health is primarily bootstrapped, and has received grants from Fortress Innovation Drive and Google for Startups’ AI-first startup cohort, which provided credits to host their platform on Google Cloud. The startup has navigated challenges including regulatory hurdles, cloud costs, and market adoption. Madzudzo noted that “developing scalable AI for healthcare data was complex, but prior experience allowed us to push boundaries.” Zimbabwe’s healthtech sector is growing, with notable telehealth initiatives such as the ZimSmart villages which has set up 22 telehealth booths in remote areas to provide virtual medical consultations. However, the market for AI-driven practice management solutions like Avalon Health remains largely untapped. Looking ahead, Madzudzo is optimistic about AI’s role in African healthcare. He notes that while there is growing discussion about AI regulation in Zimbabwe, nothing official has been established yet. “Doctors across Africa are actively discussing how AI can improve their practices and patient care, as they recognise that those who do not
Read MoreDigital bank Umba raises $5 million to grow vehicle and SME lending in Kenya
Umba, a Nairobi-headquartered digital bank with operations in Kenya and Nigeria, has raised a $5 million debt facility to grow its secured lending operations in Kenya, targeting vehicle financing and small and medium enterprises (SME) loans. The move is part of a broader shift by Kenyan neobanks from short-term, high-interest digital loans to focus more on sustainable, long-term secured lending. Star Strong Capital, a US-based asset management firm, is the only participant in the deal, with Gahigiro Capital acting as transaction advisor. The deal is structured as debt rather than equity (non-dilutive capital). The debt facility brings the company’s total funding to $20 million. Umba will use the fresh capital to expand products that are already revenue-generating, CEO Tiernan Kennedy told TechCabal. “This is revenue-generating capital, rather than runway-extending capital,” he said. Founded in 2018, Umba launched in Kenya in January 2023 after acquiring a 66.6% stake in Daraja Microfinance in 2022, a deal that gave it a microfinance banking licence from the Central Bank of Kenya. Daraja targets SMEs and holds less than 1% of the microfinance market share as of 2024. In 2022, Umba raised $15 million in Series A funding, led by Nubank executives, to support expansion to Kenya, Egypt, and Ghana. So far, it has only launched in Kenya. The company said vehicle financing has become a key part of its Kenyan operations due to rising demand for autoloans in a country with over 5 million registered vehicles—up from 3.9 million in 2021. “The vehicle financing market is valued at around $17 billion,” Kennedy said. “It is now the largest part of our loan book in Kenya.” Unlike traditional banks, which rely on manual processes and paperwork, Umba offers digital onboarding, real-time verification, and faster disbursement. While the company hasn’t disclosed current figures, it claims its revenue grew sixfold in 2024 and expects to report a profit in Kenya this year. Although unsecured digital loans have defined much of the fintech sector, Umba is leaning into asset-backed products. Other players in the logbook loan space include Autochek, which also targets vehicle owners in Kenya with asset-backed credit. “While many fintechs focus on high-interest, short-term unsecured loans, we’re building long-term customer relationships through asset-backed products,” Kennedy said. Umba has completed its senior leadership hiring in both Kenya and Nigeria, although it declined to name its incoming Kenya CEO ahead of the official start date. Co-founder Barry O’Mahony left the company in 2023. Despite a growing trend of fintechs that are pursuing full banking status after reaching key revenue milestones, Umba has no plans to apply for a commercial banking licence in 2025. Moniepoint, a Nigerian fintech unicorn, is seeking such a licence from Nigeria’s central bank. But Umba says it will continue to operate within its existing microfinance framework, which it sees as sufficient for scaling secured lending products like vehicle and SME loans in Kenya. “This [commercial banking licence] is not something we’ll be prioritising in 2025,” he said.
Read MorePayTic raises $4.4 million to scale SaaS platform for payment operations
PayTic, a Morocco-based fintech that helps banks and fintechs automate their day-to-day operations, has raised $4.4 million to deepen its presence in the Middle East and Africa and expand its global distribution partnerships. AfricInvest led the funding round with participation from Accion Venture Lab and Mistral VC. Existing investors, including CDG Invest, BVC, Concrete VC, and ICP Ventures, participated in the latest round. The fresh funding brings PayTic’s total funding to $7.4 million. While many fintechs chase end-user adoption, PayTic is part of a quieter infrastructure push: building back-end tools that automate day-to-day operations for banks, card issuers, payment processors, and fintechs. It’s a less visible slice of the $47 billion industry, but one that’s becoming increasingly critical as the region’s financial systems scale in complexity. The Casablanca-based startup, founded in 2020 by Imad Bouhmadi, offers an infrastructure layer that supports day-to-day operations, including reconciliation, chargebacks, fraud management, and compliance for payment providers. PayTic focuses on what Bouhmadi calls “the operational aftermath of payments.” “The problem we’re solving is largely invisible to consumers but mission-critical for fintechs, banks, and card issuers,” Bouhmadi told TechCabal. “We’ve built a no-code operating system for payment operations.” PayTic’s platform integrates directly with the back-end systems of banks, card issuers, and payment processors. From there, it centralizes operational workflows into dashboards that allow these players—banks, card issuers, fintechs, and payment processors—to automate repetitive tasks and maintain regulatory compliance at scale. Paytic generates revenue through a mix of subscription fees, with optional volume-based pricing, and revenue-sharing agreements. The startup currently serves over 20 businesses across Europe, the Middle East, and Africa. Its clients include Morocco’s CIH Bank, CFG Bank, and OGS (a processing body for Bank of Africa), as well as BNI Madagascar and several fintechs across Africa and the Middle East. PayTic’s biggest competitor is Kani Payments, a UK-based firm that provides reconciliation solutions. Bouhmadi claims PayTic differentiates itself by offering a more holistic platform. Unlike Kani Payments, which focuses on certain segments, Paytic covers the entire workflow of a bank’s daily operations. “They focus on one piece of the process,” he said. “ We’ve built an end-to-end solution that’s integration-free, no-code, and instantly usable across the operational spectrum.” Beyond the Middle East, PayTic is also looking to grow in new markets, starting with Nigeria. “We’re already talking to fintechs there,” Bouhmadi said. “It’s one of the most exciting fintech ecosystems on the continent, and they’re actively looking for scalable operational solutions.” While PayTic’s market remains niche, the growing complexity of payments across Africa and the Middle East could turn operational automation from a nice-to-have into a necessity. Whether PayTic can scale its model beyond early partnerships will depend on how deeply embedded its platform becomes in the region’s financial market.
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👨🏿🚀TechCabal Daily – MTN’s not gunning for Netflix. It swears
In partnership with Lire en Français اقرأ هذا باللغة العربية Wazzup! This is not a drill: how would you like to get paid for doing nothing? It sounds like a question straight out of a marketing campaign for a Ponzi scheme (sorry to those who’ve been burned before), but even those hustles make you sweat a little with worry. Well, it turns out some Google AI staff are living that dream. The Big Tech giant is reportedly paying some of its AI employees to sit out for a year rather than risk them joining rivals. Wild, right? It makes you wonder whether Google doesn’t think it has an AI race to win. Anyway, with the US stock indexes swinging erratically from red to green—and back to red—since yesterday, let’s hope Google’s share price picks up and stays up when the market makes a full recovery. We stay on business. Let’s go! MTN Group says its new streaming side hustle won’t compete with Netflix President Trump cuts USADF funding for African SMEs Nigerian banks invest big billions on IT upgrades World Wide Web 3 Opportunities Streaming MTN Group says it wants to build a complementary streaming service, not compete with Netflix Image Source: Google In 2015, Netflix’s entry into Africa raised doubts about how it would fare against local streaming platforms like MTN’s FrontRow and VIDI which got a head start. At the time, Netflix already dominated the US market with over 43 million subscribers, far ahead of competitors Hulu and Amazon Prime. But Africa’s market, still adjusting to cable TV and streaming, presented new challenges. Fast forward to today, Netflix has thrived, becoming one of Africa’s biggest streaming platforms. Yet, it now faces a familiar rival in MTN, Africa’s largest telecom operator, which is making another push into the streaming space after shutting down FrontRow in 2017. The tides have turned, yet MTN claims it’s not in direct competition with Netflix. Like its previous go-around, the telecom operator has said it will use its large subscriber base to lure users to its brand-spanking new streaming platform. According to Ralph Mupita, MTN Group CEO, it will target the Nigerian market—where it has “18 million daily customers”—to provide exclusive Nollywood content that is not available anywhere else. We wonder what IROKOtv and ROK Studios, owned by Canal+, will have to say about that. For MTN’s strategy to succeed, it must collaborate with Nigerian studios and filmmakers, stepping in as a production partner. The risk here is that top filmmakers, seeking better distribution perks, may turn to bigger platforms, leaving MTN to work with independent creators. Without big-name collaborations, attracting a solid viewership would be tough. Fewer eyeballs mean fewer bucks, and that weakens the incentive to keep going. MTN will tap into its massive subscriber base to push its streaming side hustle. That likely means zero-rating access to its platform to lure in viewers. Don’t be surprised when you start seeing offers like, “Buy 1.5GB and get 7-day access to MTN Stream.” Zero-rating would be a gut punch to net neutrality, but it gives MTN an edge that other streaming platforms, especially newer ones, probably won’t have. Yet, zero-rating comes at a cost: it means MTN would absorb the cost that data subscribers would otherwise pay for. Is this a gamble it can take on? Our reporter Frank Eleanya dives deeper. Seamless Global Payments With Fincra. Issue accounts in NGN, KES, EUR, USD & more with one integration. Send & receive funds seamlessly across borders; no more banking hassles or complex conversions. Create an account for free & go global today. Funding President Trump cuts USADF funding for African SMEs Angry Trump meme. Image Source: Digital Mom Blog/edited with ChatGPT First came the USAID cuts, then the head-scratching reciprocal tariffs with wonky math. US President Donald Trump and his buddy Elon Musk keep finding creative ways to do damage that hurts Africa—whether intentionally or inadvertently. The US African Development Foundation (USADF) quietly pulled $51 million in funding from SMEs and startups across sub-Saharan Africa. Add this to the USAID funding cut in February, which for years has been key for impact-driven startups, then we’re sitting on a $151 million funding loss. The slash-and-burn decision—courtesy of the Department of Government Efficiency (DOGE), Musk’s latest side hustle—is a direct hit to early-stage businesses in Kenya and Nigeria, the programme’s biggest beneficiaries. To the untrained eye, these were small grants. But to a WhatsApp chatbot helping Kenyan merchants, or a Nigerian wellness incubator with no bankable assets, this money was gold. It bypassed red tape, governments, and sketchy intermediaries. USADF sent funds straight to founders building real stuff in tough places. Now, it’s gone. Just like that. No consultations. No phased withdrawal. Projects like Yao Tropico, which operates mango-drying facilities in Côte d’Ivoire and shea butter cooperatives in Burkina Faso are suddenly stranded. DOGE claims it’s saving US taxpayers $140 billion—allegedly. Cool, but at what cost? For Kenya and Nigeria—where startups are already dealing with currency devaluations and cautious VCs—this isn’t just a funding cut. It’s a reality check. The post-aid, self-reliance conversation just got real. If you’re a founder, investor, or just someone betting on Africa’s innovation wave, this is the kind of geopolitical tremor that forces a pivot. What happens when the safety net is yanked mid-jump? We’re about to find out. Introducing Zap by Paystack! Zap is Paystack’s first consumer-facing app designed for simple, fast and secure payments via bank transfer. Download Zap on Android and iOS → Banking Nigerian banks invest big billions on IT upgrades Image Source: Wunmi Eunice/TechCabal $171.5 million. That’s how much Nigeria’s biggest banks spent on IT infrastructure last year. In 2024, Nigerian banks thought fintechs were giving them a run for their money and collectively began upgrading their core banking infrastructure. Side gist: Core banking infrastructure costs an arm and a leg. I once spoke with a core banking professional who told me that tier-1 banks spend at least $10 million yearly on core banking
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GiG wants to turn one-time eventgoers into lasting communities
Selling event tickets online in Kenya isn’t always smooth. Many organisers still prefer direct sales, fraud is common, and most ticketing platforms don’t offer much beyond processing payments. GiG, an event ticketing platform launched in 2018, was created to address these challenges. “We started GiG after realizing a lot of the ticketing solutions simply ended at providing tickets and left event organisers with a hard time handling the rest of the attendee management process,” David Reed, co-founder and CEO of GiG, told TechCabal. “We built GiG to solve this by helping event organizers build communities instead of starting the journey at the ticket purchase.” With tools for messaging, polls, and audience analytics, the platform allows organisers to build communities around their events. Instead of treating ticket sales as a one-time transaction, organisers engage attendees before, during, and after an event. “Our focus is mostly on event organisers who wish to build a community of their attendees,” Reed added. Competing with rivals Kenya already has ticketing platforms like TicketSasa and Eventbrite in the market. So what makes GiG different? “Unlike other ticketing platforms, we focus on using the data collected and volunteered by the attendees to build interest-based profiles for them and link them with similar events and other like-minded individuals, making events a more social experience,” Reed explained. GiG tracks attendee data to build interest-based profiles, using algorithms to predict future events attendees might be interested in. This allows organisers to send targeted event invitations based on individual preferences and past behaviour. In addition to concerts, organisers can also list free events, conferences, and corporate gatherings. Event organisers at a past event powered by GiG. Other ticketing platforms, such as Eventbrite, offer ticketing for both entertainment and corporate events, but their focus rarely goes beyond registration and basic promotion. GiG claims it is structured differently since it combines ticket sales with advanced audience engagement tools, fraud prevention measures, and post-event analytics. Attendees can interact through chat forums, photo sharing, and live streams. Each event also comes with its mobile app, allowing organisers to gather feedback, view attendee data, and stay connected after the event ends. The goal is to make the event more than just a one-off experience. “They do have options for further communication with guests such as surveys and texts post-event,” Dayvee Murebu, who used GiG twice to organise a game night with Kenyan tech publication Techweez, told TechCabal. How GiG makes money Reed admitted to TechCabal that revenue is inconsistent throughout the year. Some months are packed with events, while others are slow. GiG’s packages range from a free basic tier with ticketing—the platform charges 6% on ticket sales—SMS, and check-ins, to paid plans starting at KES 8,700 ($67). Higher tiers add email and social media tools, analytics, custom event apps, badge printing, and on-site support. An enterprise plan (from KES 27,000 or $208) offers full white labelling and extended technical help. Unlike other ticketing platforms that rely solely on transaction fees, GiG lets organisers use its tools between events for communication and audience management, though this is not available on the free basic tier. 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According to Reed, a background algorithm checks for unusual purchase
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