Digital Nomads: Africans from 30 countries could spend $871 million more to enter the US
Consider a Botswana-based tech consultant who travels to the United States once a year for a client meeting. She holds a B1/B2 visa, the standard route for short-term business travel. However, Botswana now sits on Washington’s visa bond list, placing a critical condition on her next visa application: before her visa is approved, she must deposit up to $15,000 with the US government. The money is refundable, eventually, but it sits frozen for the duration of her stay, earning nothing, while she still sorts visa fees, flight, and accommodation costs. That financial burden is now spreading across the continent. On April 2, the US expanded its visa bond policy. Six more African countries—Mauritius, Lesotho, Ethiopia, Mozambique, Seychelles, and Tunisia—were added to the United States’ visa bond programme, joining 24 other African nations whose citizens must now pay thousands of dollars upfront before entering the US for short-term travel. The visa bond requirement now applies to 50 countries globally, 30 of them in Africa, according to the US State Department. That means 60% of the nationalities subject to the US visa bond policy are African. The policy affects travellers applying for B1/B2 visas, the category used for business trips, tourism, conferences, medical visits, and family travel. Under the rule, applicants from the affected countries are required to post a refundable bond of $5,000, $10,000, or $15,000 after their visa interview and before receiving approval. For travellers from most of the 30 affected African countries, the restrictions compound further. B-class visas, consisting of B1, B2, and B1/B2 visas, are now issued as single-entry permits valid for as little as three months. Each new trip means a fresh application, a fresh interview, and potentially a fresh bond deposit. The Single-Entry Constraint How long is a US B1/B2 visa actually valid? For the vast majority of African nations, it’s just 3 months and a single trip. Search or filter below to see the disparities. All 30 Countries 120 Months (4) 3-Month (24) Exceptions (2) The TechCabal Takeaway The Travel Tax on Innovation. While US policymakers tout global connectivity, the administrative reality for African builders is highly restrictive. Out of 30 countries analyzed, 24—including massive tech ecosystems like Nigeria and Senegal—are subjected to a 3-month, single-entry visa. This means founders seeking to attend accelerators, pitch investors, or build global partnerships must constantly reapply and face massive backlog wait times for every single trip after the 3-month validity. Only four countries (Lesotho, Mauritius, Seychelles, and Tunisia) enjoy the 120-month (10-year) multiple-entry privilege. Even exceptional 24-month approvals for Ethiopian travellers require a high-level sign-off from the VO DAS (Deputy Assistant Secretary for Visa Services). Source: Data from the US Department of State Built by TechCabal Validity ${d.v} Entries ${d.e}
Read MoreBranch confirms layoffs in Kenya and Nigeria despite profitable year
Branch International, a San Francisco-headquartered fintech offering digital banking and lending services, has laid off an undisclosed number of employees in Kenya and Nigeria in what it described as “the difficult decision to reduce headcount across some of our markets.” Several sources familiar with the matter, including affected employees, confirmed the layoffs to TechCabal. An internal email seen by TechCabal outlined the severance terms offered to affected employees. The job cuts highlight a broader shift across African fintech, where startups are prioritising leaner operations and profitability over aggressive expansion, even as funding conditions improve. Branch said both its Kenya and Nigeria businesses remained profitable last year, while the group posted roughly $30 million in global profit for 2025. Branch informed affected employees during a global all-hands meeting on April 17 before sending termination notices that took effect immediately. “Your last day of employment will be today, April 17, 2026,” part of the email read. “This was not a decision driven by financial distress,” Branch told TechCabal in an emailed response on Tuesday. ”Both our Nigeria and Kenya markets were profitable last year, and Branch International declared a global profit of approximately $30 million for the 2025 financial year.” The company added that its operations in Kenya and Nigeria remained financially strong, with “significant cash on hand” and no debt across its African entities. One source familiar with the matter said employees received termination notices shortly after the company-wide meeting and quickly lost access to their work emails and internal systems. Several affected staff described the layoffs as unexpected. “We were aware of the company-wide meeting, but nobody expected people would be laid off,” a former employee told TechCabal on Thursday. Some employees said Branch had internally discussed possible fundraising plans in recent months, but they did not anticipate job cuts would follow, according to a former employee who requested anonymity because they were not authorised to speak publicly. Branch said the job cuts were not connected to fundraising or debt financing activity. “We are not actively fundraising equity as we are profitable in every market, summing to over $30M last year,” the company said. The company declined to disclose how many employees were affected or which teams were impacted. A Kenya-based employee told TechCabal it was difficult to determine the full scale of the layoffs because many staff had been working remotely in recent weeks, making the cuts less visible than they would have been in a physical office environment. Several affected employees have also remained largely silent on platforms such as LinkedIn, where laid-off tech workers often publicly signal availability for new roles. “Generous” severance packages According to the internal email seen by TechCabal, affected employees will receive at least four months of compensation, including salary, notice pay, and unused leave days. The company also said employee health insurance coverage would remain active through the end of 2026. “Employees impacted by this decision were provided with extremely generous severance packages, and we are grateful for their contributions to Branch,” the company told TechCabal. Branch has raised $274.3 million across 11 funding rounds, according to Crunchbase data. Its largest disclosed raise was a $170 million round in 2019 backed by investors including Foundation Capital and Visa. The company last raised funding in 2022 through an undisclosed debt financing round. Founded in 2015, Branch became one of Africa’s biggest app-based lenders, serving more than 13 million customers across Kenya, Tanzania, Nigeria and India, and issuing over 54 million loans worth more than $1.8 billion, according to company data. In 2022, Branch expanded beyond digital lending in Kenya by acquiring a majority stake in Century Microfinance Bank, becoming one of the country’s first digital lenders to enter deposit-taking microfinance banking.
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Safaricom updates My OneApp to support Airtel, roaming users
Safaricom, Kenya’s biggest telecoms operator, has updated its My OneApp platform to work on rival mobile networks, including Airtel Kenya, easing restrictions that had locked out diaspora and roaming users since the app launched in April. The update, rolled out early this week, allows users to remain logged into the app even after switching between Safaricom and other mobile networks. Previously, many users were reportedly being signed out whenever they lost Safaricom connectivity or changed networks, forcing them to repeatedly reactivate the app using Safaricom mobile data. The change removes one of the biggest friction points surrounding My OneApp, particularly among diaspora users who said the platform became difficult and expensive to use abroad because reactivation often required roaming bundles. Safaricom told TechCabal in April it plans to retire the standalone M-PESA and MySafaricom apps within six months of My OneApp’s launch, making the new platform central to its consumer services strategy. Since launch, users have reported login failures, issues with one-time password (OTP) verification, forced logouts, and unstable access across Google Play reviews and social media platforms. Safaricom later acknowledged service issues affecting roaming and diaspora customers. My OneApp can now remain active while connected to Airtel Kenya and other non-Safaricom networks, according to tests by TechCabal. The app also appears more stable during network changes, addressing a problem that had frustrated users who moved between WiFi, roaming and local mobile networks. My OneApp still requires Safaricom mobile data for initial activation, with attempts over WiFi and rival networks blocked in the latest update. Image source: TechCabal. Some restrictions, however, remain. Initial app activation still requires Safaricom mobile data and cannot currently be completed over WiFi, limiting access for some users outside Kenya who do not have active roaming bundles. Safaricom launched My OneApp in April as a combined platform for M-PESA, airtime purchases, fibre services, customer care, and mini apps. The company is betting on the app to consolidate services used daily by millions of customers across Kenya.
Read MoreAfrica’s tech boom has a healthcare debt
Africa is experiencing one of the world’s fastest technology expansions. Over 645 million Africans now use mobile internet. Telecommunication companies generate billions in annual revenue, and digital services have transformed banking, trade, and communication. Yet this digital growth has not strengthened citizens’ right to health. Hospitals rely on paper records, clinics lack essential equipment, and emergency response systems remain weak or absent. Africa carries 24% of the world’s disease burden but employs less than 3% of the global health workforce. This gap limits people’s right to live healthy lives. Governments can rectify this imbalance by using existing mobile networks to deliver basic healthcare, linking telecom profits to health system funding, and aligning digital expansion with access to physical healthcare services. Africa’s digital growth has not resulted in better health outcomes for ordinary citizens. Rural communities often have mobile internet but no nearby clinic, forcing families to travel long distances to access healthcare services and resulting in delayed care. Consequently, many preventable illnesses become deadly, and poor families face high out-of-pocket healthcare expenses. If this imbalance persists, inequality will deepen, digital progress will benefit only those who can afford private care, and public trust in institutions will erode. Technology risks amplifying exclusion instead of expanding freedom, dignity, and the fundamental right to health. Digital networks are the primary beneficiaries of Africa’s tech revolution. They ought to bear a proportional responsibility for the health of the populations they serve, through mobile-enabled health services, telecom levies, and tech-health parity laws. Governments and Ministries of Health should partner with telecom companies to integrate appointment scheduling, vaccination reminders, and follow-up care into existing mobile services. Rollout should begin in public primary care facilities where access gaps remain widest, reducing travel costs, saving time, and ensuring that Africa’s digital progress benefits all citizens. Telecom levies are necessary to fund and expand access to health services. Parliaments and finance ministries can legislate a fixed percentage of annual telecom revenues and spectrum license fees for emergency medical services, hospital tech upgrades, and digital health networks. To ensure this does not hinder digital inclusion, these levies should target high-level corporate profits rather than increasing taxes on consumer data usage. Communications regulators should enforce compliance through licencing conditions and audits, while ministries of health manage ring-fenced funds with public reporting. To address potential risks to investment and digital inclusion, the implementation of these levies must be carefully calibrated. Levy rates should be set through transparent regulatory consultation, benchmarked against sector profitability, and phased in gradually to avoid market disruption. The goal is not to penalise digital growth but to require that it pays a structural dividend to the populations it depends on. Complementarily, tech-health parity laws are also necessary for network expansion. Governments can implement parity laws by including health infrastructure requirements in telecom licensing agreements. Ministries of Communication and Health can jointly identify underserved areas, plan construction, and provide staffing and equipment. Telecom companies can finance construction through licensing conditions, while local governments ensure ongoing maintenance. This ensures digital connectivity does not outpace access to essential medical services. Africa’s health tech challenge is not merely a health policy problem but a tech ecosystem failure. Healthy populations are the essential foundation of productive, growing digital markets, making this a critical structural risk for the tech sector. When communities lack access to basic healthcare, they face higher mortality and reduced workforce participation, which directly suppresses the economic growth needed to drive digital adoption. Telecom companies, fintechs, and investors pouring capital into African infrastructure rely on a growing, economically active user base to generate returns. However, the same communities driving subscriber growth are being failed by infrastructure gaps in the public health sector, limiting their long-term economic participation. Aligning digital expansion with healthcare access is necessary to sustain Africa’s digital economy. Africa’s tech revolution is advancing rapidly, but public healthcare is being sidelined, undermining citizens’ fundamental right to health. If action is not taken, millions will continue to face preventable illness, rising costs, and eroded trust in public institutions. Governments should integrate digital expansion with healthcare funding and ensure clinics are physically accessible to all citizens. Strengthening healthcare alongside technology safeguards the fundamental right to health, protecting the freedom, dignity, and life of everyone. ____ Gideon Danso is a writing fellow at African Liberty.
Read MoreCustomer care numbers for banks and fintechs in Nigeria (2026)
Table of contents Customer care numbers for 26 banks Customer care numbers for 18 fintechs Quick reference: All banks Quick reference: All fintechs What to do if your complaint is not resolved Disclaimer When something goes wrong with your money, the last thing you want to do is search the internet for a customer care number. You end up on third-party sites, aggregator pages, and outdated blog posts that may or may not be accurate. Some of those numbers have even been used to scam people. This article highlights the official customer care contacts for Nigerian banks and fintechs. Every number, email, and WhatsApp line here was pulled directly from each institution’s own website or verified social media account. Banks All 26 active commercial banks below publish at least one 24/7 phone line and a customer care email address. Most also offer WhatsApp support, either through a dedicated number or through a virtual assistant inside their app. Access Bank customer care number Phone: 0700-225-5222-377, 01-271-2005-7, 01-280-2500 Email: contactcenter@accessbankplc.com Escalation email: cc-ombudsman@accessbankplc.com Twitter/X: @myaccessbank Citibank Nigeria customer care number Citibank Nigeria operates as a corporate and institutional bank. It does not publish a retail customer care line. Ecobank Nigeria customer care number Phone: 0700 500 0000, 0800 326 2265 Email: ecobankenquiries@ecobank.com Twitter/X: @ecobank_nigeria Ecobank’s Rafiki digital assistant is available inside the app. Fidelity Bank customer care number Phone (TrueServe): 0700 343 35489 Phone (IVY): 0903 000 0302 International: +234 908 798 9069 Email: true.serve@fidelitybank.ng WhatsApp: 0903 000 5252 Twitter/X: @fidelitybankplc First Bank customer care number Phone (FirstContact): 0700-347-782-668-228 Additional lines: +234 201 905 2326, +234 201 905 2000, and +234 201 448 5500. Email: firstcontact@firstbanknigeria.com Complaints email: firstcontact.complaints@firstbankgroup.com WhatsApp: 08124444000 (send ‘Hi’ to start) Twitter/X: @FirstBankngr | @FBN_help FCMB customer care number Phone: 07003290000, 02012798800, 02012272800 Email: customerservice@fcmb.com WhatsApp: 09099999814, 09099999815 Twitter/X: @MyFCMB | @fcmb_help Globus Bank customer care number Phone: 0201 466 1000, 0201 225 9000 Email: contactcenter@globusbank.com Twitter/X: @GlobusBankNG GTBank customer care number Phone (GTConnect): +234 201 448 0000 Additional lines: +234 700 4826 66328, +234 802 900 2900, +234 813 985 6000 Email: via web form on gtbank.com Twitter/X: @gtbank Twitter customer support: @gtbank_help GTBank’s Mate AI assistant handles support inside the app. Jaiz Bank customer care number Phone: 0700 7730000 Additional lines: +234 708 063 5500, +234 708 063 5555 Email: customercare@jaizbankplc.com Twitter/X: @JaizBankNG Keystone Bank customer care number Phone: +234 700 2000 3000, 070 4600 4000 Additional lines: 02013448668, 02014485743 Email: contactcentre@keystonebankng.com Twitter/X: @keystonebankng Live chat is available directly on keystonebankng.com. Lotus Bank customer care number Phone: 0700 568 872 265, 07000100000 Email: support@lotusbank.com Twitter/X: @LotusBank Optimus Bank customer care number Phone: +234 201 906 3600 Email: opticonnect@optimusbank.com Twitter/X: @OptimusBank Parallex Bank customer care number Phone: 070072725539 Email: customercare@parallexbank.com Twitter/X: @parallexbankng Polaris Bank customer care number Phone: 0700-759-32265 (0700-POLARIS) Additional lines: 0806 988 0000, 01 297 9500, 01 270 5850 Email: Yescenter@polarisbanklimited.com Twitter/X: @PolarisBankLtd PremiumTrust Bank customer care number Phone: +234 700 773 6486, 0201 330 2777 Email: contactpremium@premiumtrustbank.com Twitter/X: @thepremiumtrust Providus Bank customer care number Phone: 0700-776-84387 (0700-PROVIDUS) Email: businessconcierge@providusbank.com Fraud desk: frauddesk@providusbank.com Twitter/X: @ProvidusBank Signature Bank customer care number Phone: +234 700 0072 7272 Email: customercare@signaturebankng.com Twitter/X: @Signaturebankng Stanbic IBTC Bank customer care number Phone: 0700 909 9099, +234 1 422 2222 Email: customercarenigeria@stanbicibtc.com Twitter/X: @StanbicIBTC Standard Chartered Bank Nigeria customer care number Phone: +234 201 270 4611, +234 800 123 5000 (toll-free) Corporate line: +234 201 236 8220 Email: clientcare.ng@sc.com Twitter/X: @StanChart @StanChartNG Sterling Bank customer care number Phone: 0700STERLING (070078375464), 02018888822 Additional line: 07008220000 Email: customercare@sterling.ng WhatsApp: +234 916 031 3000 Twitter/X: @sterlinghelp | @Sterling_Bankng SunTrust Bank customer care number Phone: 0700-134-7868, +234-1-2802142 Email: helpdesk@suntrustng.com WhatsApp: +234 708 507 8034 Twitter/X: @SunTrustNG Union Bank customer care number Phone: +234 700 700 7000 (UnionCare), +234 907 007 0001 Additional line: +234 1 2716816 Email: customerservice@unionbankng.com Twitter/X: @UNIONBANK_NG Former Titan Trust Bank customers: your account is now under Union Bank. Use these contact details. UBA customer care number Phone: 0700-225-5822 (0700-CALL-UBA) Additional line: 02-012808822 Fraud desk: 02-012808800 Email: cfc@ubagroup.com WhatsApp: Chat with Leo on WhatsApp, Facebook, or Messenger Twitter/X: @UBAGroup @UBACares Unity Bank customer care number Phone: +234 7057 323 225, 0708 066 6000 Additional line: 09-8734331 Email: we_care@unitybankng.com Twitter/X: @UnityBankPlc Wema Bank customer care number Phone: 0700PURPLE (07000787753), +234 803 900 3700 Additional lines: +234 1 277 7700-9 Email: purpleconnect@wemabank.com WhatsApp: 09044411010 Twitter/X: @wemabank Zenith Bank customer care number Phone: 0700-ZENITHBANK (0700-936-4842265), 0201-278-7000 Additional lines: 0904-085-7000, 091-1987-7000 Email: zenithdirect@zenithbank.com WhatsApp: 07040004422 (ZiVA assistant) Twitter/X: @ZenithBank Fintechs Several fintechs on this list do not publish a phone number. Kuda has explicitly stated on its Twitter/X account that it does not offer support through social media or WhatsApp for security reasons. The others simply route all support through in-app chat or email without a published phone line. ALAT by Wema customer care number Phone: 07000787753, 08039003700 Email: help@alat.ng Twitter/X: @alat_ng Bamboo customer care number Phone: +234 (02) 018880295 Email: support@investbamboo.com Twitter/X: @investbamboo Branch Nigeria customer care number Email: nigeria@branch.co Twitter/X: @branch_ng Branch does not publish a phone number. Support is handled through in-app chat. Carbon customer care number Email: customer@getcarbon.co Twitter/X: @get_carbon You can safely access support through In-App Support Ticket and the Web Contact Form Chipper Cash customer care number Phone: +1 844 386 3753 (US line) Email: support@chippercash.com Twitter/X: @chippercashapp For Nigerian users, in-app chat is the primary support channel. The published phone number is a US line. Cowrywise customer care number Phone: 07000 269 799 473 Email: support@cowrywise.com WhatsApp: 0903 000 0857 Twitter/X: @cowrywise Eyowo customer care number Phone: +234 1 7001520 Email: support@eyowo.com Twitter/X: @eyowo | @eyowohelp FairMoney customer care number Phone: 0201 700 1276, 01 888 5577 Toll-free number: 0800 000 3333 Email: help@fairmoney.io WhatsApp: +234 810 108 4635 Twitter/X: @fairmoney_ng Flutterwave customer care number Phone: 0700-FLUTTERWAVE (0700-358-883-79283), 01-888 9595 Email: hi@flutterwavego.com Twitter/X: @theflutterwave | @FlwSupport Kuda Bank customer care number Phone: 0700022555832 Email: help@kuda.com Twitter/X: @joinkuda Verified support account: @kudahelp_ng Kuda does not offer WhatsApp or social media support. Per its official Twitter/X account: ‘For the safety of
Read MoreNigeria launches Meta-backed AI chatbot for government information access
Nigeria has launched a new artificial intelligence-powered chatbot designed to help citizens access government information and services, in one of the country’s biggest public sector AI projects so far. Meta built the chatbot called GovGuide Nigeria in partnership with the Federal Ministry of Communications, Innovation, and Digital Economy (FMCIDE), the National Centre for Artificial Intelligence and Robotics (NCAIR), and local AI company Publica AI. Announced on Thursday during Meta’s Economic Impact report launch in Nigeria, the platform uses Meta’s open-source Llama AI models to provide government service information through a multilingual voice and text interface available on the web. The launch also underscores Meta’s broader push to expand the reach of its open-source AI models across emerging markets, particularly in Africa. Its No Language Left Behind (NLLB-200) model now supports more than 50 African languages—roughly twice the coverage offered by most traditional translation systems. GovGuide supports English, Hausa, Igbo, and Yoruba in a bid to make public information more accessible to rural communities, low-literacy populations, and citizens navigating Nigeria’s fragmented public service systems. However, adoption may be limited by poor broadband penetration in rural areas and the poor usage of smartphone devices. “The GovGuide initiative reflects our commitment to leveraging artificial intelligence to make government services and information more accessible and responsive to the needs of Nigerians,” Bosun Tijani, Nigeria’s Minister of Communications, Innovation and Digital Economy, said. The launch comes more than a year after the Nigeria Data Protection Commission fined Meta $32.8 million over alleged violations of the Nigeria Data Protection Act 2023, including unauthorised data transfers and a lack of user consent. Reports later indicated that the fine was waived after Meta agreed to cover legal costs and support privacy awareness initiatives.
Read MoreVisa says stablecoins are ‘pretty big’ for Africa’s payments future
$2 trillion. That is how much flowed through mobile money wallets globally in 2025, doubling from the first trillion in just four years, according to GSMA’s State of the Industry Report on Mobile Money 2026. Sub-Saharan Africa alone accounted for $1.4 trillion of that, representing 66% of total global transaction value. “The speed and pace at which digital payments are growing in Africa is unprecedented,” Michael Berner, Visa’s Head of South and East Africa, told TechCabal on the sidelines of the Africa CEO Forum in Kigali, Rwanda, on May 15. “It is much faster than anywhere else in the world. In two or three years, we would not recognise some of the realities we face now.” Visa, which is four years into a five-year, $1 billion commitment to the continent, has reason to believe it. In July 2025, the payments giant opened its first Africa data centre in Johannesburg, South Africa’s capital, a move Berner frames less as corporate expansion than as proof of skin in the game. But with African governments increasingly seeking to build domestic payment infrastructure, the question is no longer whether global networks like Visa belong here. It is on what terms. On crypto, Berner was direct: “Stablecoins specifically could be pretty big,” he said, adding that pilots for crypto-based settlements between banks and Visa were coming “very, very soon.” It coincides with a broader industry shift. In October 2025, Flutterwave, the Nigerian fintech unicorn, selected Polygon as its blockchain partner for stablecoin-powered cross-border payments. This week, Tether, the world’s largest digital asset company, made an undisclosed investment in LemFi, the Nigerian-founded remittance payments startup. This interview has been edited for length and clarity. A key theme at this conference is scale, which leads to the conversation on fragmentation. Africa is a very fragmented market. How is Visa helping African businesses overcome that? The key element of our strategy is to provide access to the financial ecosystem for everyone, and to uplift everyone everywhere. We work with small enterprises, providing them with an opportunity to accept payments, because if they accept payments seamlessly, they get more clients and their businesses grow quicker. We help banks and financial institutions have products and tools to increase financial inclusion, to bring more people into the financial ecosystem: give them access to modern banking products, give them access to credit, make sure they are included in the broader global financial ecosystem. And we also work with many fintechs to support them in designing new tools, products, and services, innovating with them and helping them accelerate their businesses. You’re four years into Visa’s five-year, $1 billion commitment to the continent. Looking back, what are the biggest learnings and what are you betting on going forward? One of the biggest investments we made was a data centre we opened last year in Johannesburg, South Africa. It’s the first data centre we’ve opened outside our traditional hubs: the US, the UK, and Singapore. We invested over a billion rands ($61 million) in it, and it’s evidence of our serious approach to Africa and our desire to bring modern products and, as we’ve discussed, advance financial inclusion on the continent. There’s a growing push from African governments to build domestic payment switches and homegrown rails. What are your thoughts on that, given that partners like Visa are already doing this work? We highly respect the decisions made by governments and central banks, and we understand the need for sovereignty. At the same time, we are always happy to partner and provide our technology to meet government needs, to see how we can enhance what governments have built with new products and services, and specifically our risk products to prevent fraud and financial losses for communities and governments alike. So it’s a combination, I would say. We are ready to provide our expertise and support, and we’re happy to partner as well. Does that change your view of the market at all? No, it doesn’t change our view of the market. We respect the national priorities various countries have. We respect the drive towards sovereignisation, and we understand it. But at the same time, we’re always open to partnership, and in good faith, we provide our technology, our solutions, our experience because we have been in payments infrastructure for more than 60 years now. Shared ownership between governments, the private sector, and stakeholders has been a recurring theme here. Visa plays a very key role in the payments infrastructure ecosystem on the continent. How do you see your role as that conversation evolves? I really like the idea of shared ownership, and I think it is the theme of the Africa CEO Forum this year: owning together and building the future by bringing new technology, investments, expertise, and something very close to me personally: nurturing and bringing in new talent. Africa really needs, for continuous growth, more talent that is well-educated, thinks broadly, is creative, entrepreneurial, and focused on execution. And we see that, actually, in every country where we operate. Visa operates across multiple African markets, which gives you an interesting vantage point. Which markets have the most potential for payments growth, and what does the next phase of payments on the continent look like? I think every market has great potential. We cannot single one out and say the others would not be successful. Every market will be successful with the right degree of strategic thinking, the right talent, the right investments, and execution. The speed and pace at which digital payments are growing in Africa is unprecedented. It is much faster than anywhere else in the world. In two or three years, we would not recognise some of the realities we face now. Cards and digital payments will be accepted everywhere. Think about when you had to go find an ATM for cash; that reality is fading. The new generation doesn’t expect that. Gen Z and Gen Alpha expect payments to happen seamlessly. And that is what everyone playing in the
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👨🏿🚀TechCabal Daily – Nigeria hits refresh on telecoms
In partnership with Lire en Français اقرأ هذا باللغة العربية Happy pre-salary week. Dear tech worker, we made it to our favourite part of the month again. Soak it in. At sunrise (Monday), finance departments across the continent will suddenly become everyone’s favourite coworkers. Let’s dive in. Get smarter about Francophone Africa with our newsletter, Francophone Weekly—the startups, tech policies, and institutions building the pipelines for ecosystem growth. Subscribe Kenn Abuya: A GITEX Nairobi review Nigeria to review telecom rules Who secured the bag? World Wide Web 3 Job Openings events GITEX arrives in Nairobi: A review Image Source: GITEX Kenya For three days, Nairobi became the centre of Africa’s AI sales pitch as AI Everything Kenya x GITEX Kenya convened startup founders, government officials, cybersecurity firms, cloud companies, and investors at the Sarit Expo Centre (Day 1) and the Kenyatta International Convention Centre (Days 2 and 3). The event, GITEX’s first East African edition, was meant to signal that Nairobi is no longer just a startup city but a serious entry point into the continent’s AI and digital infrastructure market. Exhibition halls were packed with AI demos, cybersecurity products, enterprise software pitches, and startup booths trying to pull attention away from bigger global vendors. ASUS and Lenovo, for instance, pushed their gaming and enterprise laptops. Kaspersky and Fortinet leaned heavily into cybersecurity. Business executives from multiple industries circled enterprise AI and cloud conversations, while policymakers discussed regulation, data infrastructure, and digital sovereignty. What stood out was how quickly the conversation moved beyond chatbots and flashy demos. Most panels kept circling back to infrastructure, who owns Africa’s data, where AI systems will run, and whether local startups can compete in a market increasingly dominated by global cloud firms and enterprise vendors. Cybersecurity became one of the loudest themes at the event as companies warned banks, governments and businesses about AI-powered attacks and rising digital risks I spoke with over 20 attendees who described the event as the closest Nairobi has come to hosting a Dubai-style tech conference, praising the networking opportunities and international presence. Others complained about overcrowded sessions, expensive passes, and panels that felt polished but thin on substance. One criticism kept coming up repeatedly: African startups were visible, but the biggest stages often belonged to large foreign vendors selling AI infrastructure into the continent. Still, GITEX’s arrival matters because it reflects how global tech firms increasingly see Nairobi not just as a startup ecosystem, but as a commercial and geopolitical gateway into Africa’s next phase of digital growth. We Have Secured the Bank of Ghana EPSP Licence. Fincra has officially secured its Enhanced Payment Service Provider licence. This regulatory milestone authorizes Fincra to directly collect, process, and settle payments in Ghanaian Cedis, offering a highly streamlined financial pipeline for businesses operating within the region. Start here. policy Nigeria is reviewing its 26-year-old telecom policy Image Source: Tenor Apparently, it is not only humans who start rethinking their life choices after 25. Nigerian Communications Commission (NCC), the telecoms regulator, has now decided that Nigeria’s 26-year-old telecom policy needs a serious reset. Here’s what happened: After 26 years, the NCC said it has begun reviewing its National Telecommunications Policy, proposing 15 major changes that could affect everything from data pricing and network quality to cybersecurity, AI infrastructure, satellite broadband, and online scams. The revised framework is expected to go live before the end of the year. The NCC wants stronger competition rules, better infrastructure sharing, improved 5G spectrum management, support for AI innovation, satellite broadband integration, local telecom manufacturing incentives, and a Digital Innovation Fund for startups and research. Why the sudden need for change? According to the NCC, the current telecom framework was built for an era when getting people online was the biggest challenge. Well, Nigerians are online now, with a 54.3% Internet penetration, but they also battle fibre cuts, unstable networks, expensive data, and digital fraud. The NCC was already patching things together: Over the last few months, the NCC has introduced new frameworks: telcos, in collaboration with banks, must now flag high-risk phone numbers, issue airtime refunds for poor service, and upgrade their networks. A lot could change if this works: The policy makeover could push forward some of Nigeria’s biggest digital ambitions. It could make broadband deployment cheaper and faster, extending reach to Nigerians. It could also support Lagos’ ambition to expand its data centre capacity to 250MW by 2030, accelerate 5G rollout, and strengthen cybersecurity. We Empower Your Ambition Insights Funding tracker Image Source: Success Sotonwa, TechCabal Insights Electric Transits Africa, a Kenyan e-mobility startup, raised $695,000 from AVIA Weghorst, Invest International through the Dutch Good Growth Fund (DGGF), and additional angel investors. (May 19) Here is the other deal for the week: EYST, a Tunisian Insurtech startup, raised undisclosed funding from 216 Capital. (May 18) Follow us on Twitter, Instagram, and LinkedIn for more funding announcements. Before you go,Nigeria’s healthtech startups are building around fragmented data systems. Find out how here. Naira Life 2026 is here! Join 2,000+ in Lagos on August 22 for unfiltered wealth strategies, investment clinics, pitch competitions, and real talk about building long-term financial power. Get 15% off early bird tickets. CRYPTO TRACKER The World Wide Web3 Source: Coin Name Current Value Day Month Bitcoin 77,579 – 0.16% – 0.59% Ether $2,131 – 0.11% – 11.15% XRP $1.37 – 0.20% – 6.00% Solana $86.90 + 0.57% – 1.36% * Data as of 06.51 AM WAT, May 22, 2026. JOB OPENINGS Big Cabal Media — Senior Motion Designer, YouTube Growth Strategist, Editor-in-Chief (TechCabal), Reporter, Enterprise & Policy, Editor (Analytical), Business Development Executive — Lagos, Nigeria Moniepoint —Backend Engineer (Women in Tech Internship) — Lagos, Nigeria Airvend — B2B Technical Support — Lagos, Nigeria Bridgemax Technologies — Cloud Administrator — Lagos, Nigeria Union Systems — Software Technical Writer — Lagos, Nigeria There are more jobs on TechCabal’s job board. If you have job opportunities to share, please submit them at bit.ly/tcxjobs. Nigerian fintech Sycamore wants $29 million in deposits after
Read MoreNigeria reviews 26-year telecom policy as networks face mounting pressure
Nigeria has begun reviewing its 26-year-old telecommunications policy, proposing 15 major changes that could affect everything from mobile tariffs and internet competition to network quality and online safety for millions of subscribers. The review is expected to go live before the end of the year. At a policy review workshop in Lagos on Wednesday, the Nigerian Communications Commission (NCC) said the proposed National Telecommunications Policy 2026 is intended to address the everyday problems subscribers continue to face, including rising data costs, persistent network outages, weak connectivity, and growing exposure to online fraud and digital scams. Subscribers are facing worsening network disruptions as damage to telecom infrastructure continues across the country. Nigeria recorded 19,384 fibre-optic cable cuts in 2025, contributing to frequent service outages and unstable connectivity nationwide. The proposed reforms include restructuring telecom governance institutions, updating the Nigerian Communications Act, strengthening competition rules, promoting infrastructure sharing and national roaming, improving spectrum efficiency for 5G and future technologies, and introducing more transparent tariff regulation. The policy also seeks to integrate satellite broadband, support AI and IoT innovation, encourage local telecom manufacturing, and establish a Digital Innovation Fund for startups and research. The new framework places strong emphasis on consumer protection, affordability, and network reliability through measures focused on online safety, digital literacy, cybersecurity, and broader internet access. Telecom infrastructure, such as fibre-optic cables and towers, would receive stronger legal protection as Critical National Information Infrastructure (CNII), while a one-stop permitting system and harmonised Right of Way fees are expected to reduce multiple taxation and lower broadband deployment costs nationwide. The NCC has achieved only about 25% of its planned 2026 site upgrade targets, leaving the existing 4G infrastructure overstretched. With Nigerians consuming over 4 billion gigabytes of data in Q1 2026 alone, networks are increasingly experiencing congestion and speed throttling, particularly during peak usage periods. “When the National Telecommunications Policy 2000 was introduced, Nigeria’s telecommunications sector was at a very different stage of development,” NCC Executive Vice Chairman Aminu Maida said at the event. “The market has outgrown the assumptions of that period.” According to him, the sector has now entered what he described as “the era of advanced regulatory frontiers,” where regulators must contend with technologies such as artificial intelligence, 5G, satellite broadband, Internet of Things (IoT), cloud infrastructure, and critical national information infrastructure. “This is no longer a narrow telecommunications conversation,” Maida said. “Telecommunications is no longer just one sector within the economy; it is productivity infrastructure for the entire economy.” One of the most visible changes proposed in the review is a stronger focus on consumer protection and online safety. Unlike the 2000 policy, which largely focused on getting Nigerians connected, the revised framework introduces new directions around digital trust, cybersecurity, and the regulation of online platforms and services. For subscribers, this could translate into stronger measures against online scams, fraudulent digital platforms, harmful content, and other internet-related risks that currently operate with limited oversight. The policy review also comes as telecom operators grapple with worsening infrastructure and operational challenges that directly affect service quality. 5,934 fibre cuts were recorded in the first quarter of 2026 alone, vandalism, more than 50 taxes and levies imposed across the sector, persistent right-of-way bottlenecks, and rising energy costs, with diesel prices increasing from ₦1,770 to ₦1,850 per litre. “Fibre cuts, vandalism, high energy costs, multiple taxation, permitting delays, and persistent gaps between urban and rural connectivity are national development issues,” Maida said. As part of the proposed reforms, the NCC signalled plans to simplify infrastructure deployment through harmonised Right of Way (RoW) fees and streamlined permitting processes across federal, state, and local governments. Telecom operators have long argued that multiple taxation and inconsistent permitting systems significantly increase the cost of deploying fibre infrastructure, costs that are often passed on to subscribers through higher data and call prices. The revised framework also seeks to give stronger protection to telecom infrastructure designated as Critical National Information Infrastructure (CNII). For consumers, this could help reduce network blackouts caused by fibre cuts and vandalism, which continue to disrupt connectivity across the country. Another major shift is the move from simply providing “universal access” to ensuring what regulators describe as “meaningful connectivity.”. The policy review further introduces a stronger emphasis on digital literacy and inclusion, with regulators seeking to ensure that more Nigerians can effectively participate in the digital economy. This could lead to more government-backed digital training initiatives, smartphone affordability programmes, and targeted support for underserved communities. The NCC said the new framework would address the growing convergence between telecom networks and other sectors, including financial services, data protection, cloud infrastructure, and digital identity systems. Regulators are expected to work more closely with agencies such as the Nigerian Data Protection Commission (NDPC), the Central Bank of Nigeria (CBN), National Information Technology Development Agency (NITDA), the Federal Competition and Consumer Protection Commission (FCCPC), and state governments. “This new policy should not be too prescriptive on technology because technology changes so quickly,” Former NCC Executive Vice Chairman and current MTN Nigeria chairman, Ernest Ndukwe, said. “Good regulation is essential, but regulation must also remain adaptable.” The NCC said consultations on the proposed National Telecommunications Policy 2026 would continue as regulators seek to create a framework capable of supporting broadband expansion, AI infrastructure, consumer protection, cybersecurity, and long-term investment sustainability.
Read MoreNigerian fintech Sycamore wants $29 million in deposits after MFB acquisition
Sycamore, a Nigerian fintech, wants to build a deposit base that could exceed ₦40 billion ($29.13 million) as it expands from digital lending into banking and payments following its acquisition of a microfinance bank licence. The digital lender acquired the MFB licence through the acquisition of an undisclosed Kano-based microfinance bank. The company’s chief executive officer, Babatunde Akin-Moses, told TechCabal in an interview on Tuesday that deposit mobilisation would become one of its biggest priorities now that it can hold funds. “Deposit mobilisation is going to be very critical,” he said. The move reflects a broader shift among Nigerian fintechs that are increasingly acquiring microfinance banking licences to gain direct access to deposits and cheaper capital. In April, Flutterwave, the Nigerian fintech unicorn, secured an MFB licence after acquiring open banking startup Mono. In January, Paystack acquired Ladder Microfinance Bank, as fintechs try to convert payment users into banking customers. For Sycamore, the MFB acquisition marks a transition from operating primarily as a digital lender to becoming a broader regulated financial services group with three business lines: Sycamore Integrated Solutions Limited (SISL), its flagship lending business; Sycamore Investment and Asset Management Limited (SIML); and now, Sycamore Microfinance Bank. “So SISL will become Sycamore Capital Group (SCG), with an AUM of ₦60 billion ($43.69 million), to reflect the new structure of the business,” Akin-Moses said. The MFB licence also removes the company’s dependence on third-party banks for wallets and fund settlements while giving it direct access to payment rails and customer deposits. “We are already using third-party wallets today,” Akin-Moses said. “It is just that we do not control those wallets right now.” The acquisition will allow Sycamore to integrate directly with the Nigeria Inter-Bank Settlement System (NIBSS) Instant Payment platform to offer real-time transfers and traditional deposit account services to customers. More importantly, deposits could significantly reduce Sycamore’s cost of capital. The startup has historically relied on commercial papers and institutional debt to fund lending operations. Deposits, however, offer a much cheaper source of funding. “Every single sort of money that comes to the platform comes with a significant lender cost,” Akin-Moses said. “But now for deposits, we will be able to have those at cheaper costs.” According to him, the lower funding costs could eventually translate into cheaper loans for customers. “And the whole idea is that we should be able to eventually pass those cheaper costs on to our borrowers as we grow,” he said. The company is targeting between ₦40 billion ($29.13 million) and ₦50 billion ($36.41 million) in loans this year, according to Akin-Moses, who said Sycamore would need deposits that exceed that figure to support its lending ambitions. According to him, the company is targeting deposits that could eventually reach between 30% and 50% above projected loan disbursements. In 2025, Sycamore disbursed close to ₦20 billion ($14.56 million) in loans, according to Akin-Moses. This year, the company is aiming to at least double that figure as demand from businesses increases. Its average loan ticket size has also grown. While Sycamore previously issued average loans of around ₦10 million ($7,282), with a maximum limit of ₦20 million ($14,563), its average ticket size has now risen to between ₦30 million ($21,845) and ₦40 million ($29,126). The company has also increased its maximum loan size to ₦100 million ($72,815). “Apart from increased capacity of our balance sheets, which is part of why we raise money in commercial paper, the whole idea is that people need more,” Akin-Moses said. “Businesses need more.” The company’s expansion mirrors broader trends in Nigeria’s digital lending market. FairMoney Microfinance Bank said it disbursed more than ₦150 billion ($109.22 million) in loans in 2025. Moniepoint said it disbursed over ₦1 trillion ($728.15 million) in loans to small businesses during the same period. Sycamore currently serves more than 400,000 users across its lending, investment, and savings products and operates digitally in more than 22 Nigerian states. The company also maintains physical presence in Lagos, Abuja, Port Harcourt, Kano, and Ibadan. Akin-Moses said Sycamore believes its existing customer base gives it a starting point for deposit mobilisation. “This is also driven by customer demand,” he said, adding that some users wanted to use cash flows already existing within Sycamore’s ecosystem as collateral for loans. Northern Nigeria is also becoming an increasingly important part of the company’s growth strategy, which partly influenced its decision to acquire a Kano-based microfinance bank. According to Akin-Moses, many consumers in the region are still unfamiliar with digital investment and savings products that have become more mainstream in cities like Lagos. But unlike Lagos, where many fintechs scaled largely through digital distribution, Sycamore believes expansion in northern Nigeria will require physical operations, stronger local trust, and products adapted for more Islamic-compliant financial structures. “We are looking to modify some products to be more Islamic-compliant,” Akin-Moses said. “We do have a physical office in Kano to make that agenda a reality. We bought a Kano-based MFB because of the opportunity there.” Beyond Nigeria, the startup is exploring diaspora opportunities, particularly in the United Kingdom and Canada. It sees a lending opportunity in the UK and an investment one in Canada. “We see that as a potential opportunity to partner with some UK-based companies, even have some sort of UK presence,” he said. “Canada will be looking at it like the market for investments for diasporas.” The company says it is also open to future acquisitions as it expands into additional financial services, particularly cross-border products. “One of the trends we are seeing this year is acquisitions,” Akin-Moses said. “If there is some capability we are trying to build, we do not always have to build from scratch.” For now, however, Sycamore’s immediate challenge is convincing customers to trust a fintech lender with tens of billions of naira in deposits.
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