Their careers no longer paid well, so they joined Zimbabwe’s gig economy
When ride-hailing service, Rida, launched in Harare, Zimbabwe in 2023, it not only brought convenience to commuters, but also attracted professionals who are leaving their jobs to supplement their meagre salaries as gig workers. Though Zimbabwe’s literacy rates are comparably higher than the rest of the continent, according to a 2014 Labour Force and Child Labour Survey, only 4.9% of the working population are professionals. Many Zimbabweans in this demographic, however, are increasingly unable to meet their cost of living needs as inflation and currency changes continue to worsen the country’s economy. In 2014, average private sector wage was US$340, below the Poverty Datum Line (PDL) for a family of five. To survive, the majority moonlight, embark on side hustles, or seek out a source of livelihood in other sectors, like ride-hailing. One such professional, Talkmore*, 34, who asked for anonymity for professional reasons, graduated in 2015 with a degree in accounting from the University of Zimbabwe (UZ), and has worked at a local accounting firm, earning US$400 monthly after nearly a decade. “For me, it was no longer viable to continue working as an accountant at a local firm, and getting paid around US$400 a month, when I could drive a taxi, and make almost double that amount, at the same time, making enough for my family,” Talkmore told TechCabal. On average, in 2025, a single individual’s monthly expenses can range between $500 and $800, excluding rent. Including rent, especially in urban areas like Harare, the total can rise to $1,200 or more, depending on lifestyle and housing choices. Making ends meet Talkmore says when he graduated, he had high hopes for a successful career. But over the years, the corporate world grew more demanding yet less rewarding, his salary barely enough to cover basics, like rentals and transportation. He took interest in the ride-hailing sector after a friend mentioned it to him and began saving to purchase a car. The goal was to join a service and supplement his income. In 2024, he withdrew his lifetime savings—amounting to US$3,000—and with an additional US$2,000 loan from a friend, purchased a second-hand car. 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After a rigorous vetting process and background checks, he was onboarded onto the platform and began taking ride requests during his lunch breaks and after work hours. In a few days, he was making three to four rides a day, earning an extra US$50-US$60 per day. “At first, I had to sneak out of my workplace and sometimes got into trouble with my superiors,” Talkmore said. “Since then, I have gained a regular clientele, especially those working at night.” Like Talkmore, Emassy Tawanda Ndorodzavashe, 30, an IT technician by training, said he joined the ride-hailing sector to supplement his income. “What motivated most of us to join inDrive is because it is flexible, I can work at my own time and pace, and I don’t have a fixed timetable. If I get five to six clients a day, on a good day, I can easily make $50-$60,” Ndorodzavashe said. For 40-year-old Davidson* (not real name for professional reasons), a former professional sports instructor, fewer available opportunities to coach school children drove him into joining the ride-hailing gig economy. “The interest in sports and
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This SaaS company wants Nigerian & African tailors to ditch ‘paper and pen’ operations
Consider for a minute, Stylebitt co-founder, Precious Aleaji, invites me over a video chat, how most industries have foundational software(s) with which they operate. In the service industry, a customer care agent must know their way around Zendesk; in writing and publishing, a range of software from Scrivener and WordPress to InDesign. A banker must know their way around Finacle or other similar software. The fashion industry, at least as it operates in Nigeria and most parts of Africa, though valued at around $31 billion, has no such distinct software. Aleaji knows this because he’s worked in the fashion industry for most of his young adult life. After learning to make leather footwear at 10, he later founded and ran Legendfitz, a leather shoe manufacturing company, until 2020, when it shut down due to pandemic-induced supply chain glitches and declining sales. After it shuttered, Aleaji went to work for several Lagos fashion houses, which exposed him to the operational gaps fashion designers faced. It was during this period that the idea for Stylebitt, a fashion business management software, was conceived. The first version was released in mid 2023. One of those fashion houses was Ngolongolo Couture, a high-end bespoke fashion business located in Victoria Garden City on the Lagos Island. He joined the business around Christmas time. If you’ve tried to have clothes made in Nigeria during a festive season, you’ve likely worried about or been at the receiving end of one of many inefficiencies of Nigerian fashion businesses; from delayed delivery timelines to inaccuracies in style or proportion. Aleaji said it was no different at Ngolongolo Couture: they were only able to fulfil about 47% of orders around that period due to some of those familiar issues, which inadvertently left some customers dissatisfied. The business, like the others he worked at, became “like a space of research,” Aleaji said, informing the features that Stylebitt offers tailors and other fashion entrepreneurs today. How many measurement books do you need? Though African fashion is increasingly taking centre stage globally, it is still largely informal, and thus plagued by infrastructural and operational deficiencies. Technology, like online marketplaces and e-commerce, has helped bridge some of those gaps, but the industry is yet to see tech adoption on the scale that transforms its backend operations: inventory and personnel management, cost of operations, invoicing, and other elements that scale a business and make it profitable. Photo by Ben Iwara on Unsplash For one, many Nigerian tailoring and fashion businesses rely heavily on manual tools for their operations. Fashion entrepreneur, Chidimma Owoh, whose Lagos-based bespoke tailoring outfit has been operational for about four years, said she keeps track of her operations manually. Owoh said that at the beginning of every month, she takes stock of what jobs the business has in the pipeline and whether her rotational staff of three to four tailors can accept more orders or not. Her tailoring business makes women and children’s clothing with prices starting at ₦150,000 ($94). Owoh’s continued use of manual tools isn’t due to a lack of trying to adopt technology tools. Owoh said she isn’t very tech-savvy and needs software that isn’t complex. In addition, “most times there’s no Nigerian version,” she said, and paying in dollars with a Naira card is always a hassle. “I definitely want to use a more automated system,” Owoh said. Hunt Couture’s Abiodun Ettu said on a call that his business, a bespoke menswear brand which he began in 2008, used a workflow notebook to keep track of customer information and production until about six months ago. Ettu said his decision to go digital resulted not only from the need for better oversight of multiple productions and deadlines but also the need to prioritise production of clothes for both high-end and average clientele equally (his outfit makes clothing that range in prices from ₦50,000 to ₦500,000 (~$31 to $311). At Ngolongolo Couture, where some of the ideas behind Stylebitt first started to take shape, owner Uche Njoku said that when he opened in 2010, he imagined a business that employed some digital tools for efficiency but could not find those solutions. A former professional football player, Njoku began his entrepreneurship journey in Aba, where he was born and raised. His mother owned a fashion business and he often helped out on breaks from school and football. He launched his own business there in 1988, buying fabric and employing tailors to make wears for his clients. He continued for several years in Europe, after his football career came to an end, and saw businesses employ tech tools in obtaining and storing customer information among other business operations. When Aleaji approached him with the idea for Stylebitt, he wasted no time in absorbing the tool into his business. Now, his brand, which caters to a wide range of clients utilises the software to collect and store customer information, among other things. “There are some clients I’ve known for seven, eight years,” Njoku said, who, after he’s collected their measurements, haven’t had to come into the business on the Lagos Island “unless they lost weight or they added weight” and who continue to patronise his business. For a brand that now caters to at least a thousand customers in Nigeria and abroad, it’ll require several thick measurement books to record customer information, he joked. A digitised tool that allows you to easily call up or update customer details has been game-changing. Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa
Read MoreAfrica’s digital transformation: Lessons from telecom and banking innovations
Africa is experiencing a digital revolution, driven largely by advancements in telecom and banking. Mobile technology, digital payments, and AI-driven solutions reshape customer experiences while promoting financial inclusion and economic growth. By looking at key innovations in these sectors, we can uncover valuable lessons from Africa’s digital transformation. 1. Mobile-first innovation is key Unlike many Western markets, Africa’s digital growth has been fueled by mobile technology. With increasing smartphone penetration and expanding network coverage, telecom companies have played a pivotal role in bringing internet access to underserved areas. Mobile devices have become the foundation of digital interactions, driving communication, commerce, and financial transactions. A standout example is Kenya’s M-Pesa, which revolutionised mobile payments and set the stage for similar platforms like MTN MoMo and Airtel Money. These services provide millions with access to financial tools, even without a traditional bank account. Lesson: Businesses looking to expand in Africa must prioritise mobile accessibility, ensuring their services work seamlessly on feature phones, smartphones, and low-bandwidth networks. A mobile-first approach broadens reach and adoption. 2. Fintech is expanding financial inclusion Traditional banking in Africa has long excluded large segments of the population due to infrastructural challenges and bureaucratic processes. Fintech companies have stepped in to bridge this gap, offering digital financial services that make transactions, bill payments, and access to credit easier. Banks have also adapted, enabling frictionless digital payments that benefit businesses and consumers alike. Meanwhile, neobanks and microfinance platforms use fintech to provide small business loans and savings opportunities to those previously left out of the financial system. Lesson: Delivering secure, low-cost digital payment solutions is critical for driving financial inclusion. Businesses must continue innovating in mobile wallets, instant payments, and cross-border transactions to meet Africa’s evolving financial needs. 3. Collaboration between telecom and banks is driving growth Partnerships between telecom operators and financial institutions have been transformative. By leveraging their vast customer bases, telecom companies have successfully offered financial services such as mobile money and microloans, extending banking access to remote communities. Examples like Airtel Money and MTN MoMo highlight the impact of these collaborations, while in Nigeria, banks have worked with telecom providers to enable USSD banking, allowing transactions without internet access. Lesson: Strategic partnerships between the telecom and banking sectors can accelerate the adoption of digital financial services and improve financial accessibility. These alliances must continue evolving to address emerging financial needs. 4. AI and Data Analytics are enhancing customer experiences Artificial intelligence and big data are reshaping how banks and telecom companies serve their customers. AI-powered chatbots, predictive analytics, and automation are making services more personalised and efficient, improving fraud detection, customer support, and product recommendations. Companies like Smile Communications and AXA Mansard are leveraging data analytics to refine customer engagement strategies and enhance business decision-making. Predictive analytics allows businesses to anticipate needs, tailor financial products, and offer proactive support. Lesson: Investing in AI and data-driven insights can enhance customer experience, strengthen security, and streamline operations. Organisations must embrace machine learning and analytics to stay competitive in the digital economy. 5. Regulatory support is crucial for innovation As digital financial services continue to grow, clear and supportive regulatory frameworks are essential. Governments across Africa recognise the importance of fintech and mobile money, but regulations often struggle to keep up with rapid technological advancements. While mobile money regulations have improved financial inclusion, fintech startups still face challenges related to licensing, compliance, and cross-border transactions. Regulators like the Central Bank of Nigeria (CBN) have introduced policies to encourage fintech growth while ensuring security and consumer protection. However, achieving regulatory clarity remains a key challenge in scaling financial solutions across the continent. Lesson: Policymakers must strike a balance between fostering innovation and ensuring security. Engaging with industry stakeholders can help create frameworks that promote growth while protecting consumers. The road ahead Africa’s digital transformation is still unfolding, and telecom and banking innovations will continue to shape the landscape. Mobile-first solutions, fintech advancements, AI-driven services, and strategic partnerships set the stage for a more inclusive and resilient digital economy. To sustain this momentum, continued investment in infrastructure, regulatory support, and customer-centric digital solutions is essential. The continent has a unique opportunity to leverage its young, tech-savvy population and position itself as a global hub for digital innovation. Africa can unlock new economic opportunities by fostering an environment that encourages startups, increasing connectivity, and bridging the digital divide. Collaboration across industries, innovative financial models, and a commitment to equitable digital access will be key to driving sustainable growth. Ultimately, Africa’s digital future depends on its ability to leverage technology to overcome traditional barriers, ensuring a more inclusive, competitive, and thriving digital economy for all. _____________ Adekunle Mayowa Kadri is Head, Product Analytics at Access Bank. He is a Senior Product Growth & Analytics Manager with over 10 years of experience driving product analytics and scaling growth through data-driven decisions. He specialises in systems implementations, process optimisation, and delivering analytics projects across on-premise, hybrid, and cloud infrastructures.
Read MoreDigital Nomads: In Rwanda, a burnt out entrepreneur found the zest to keep going
Welcome to Rwanda. There’s a kind of hush in Kigali that gets under your skin. It’s not a tense, cautious silence, but a peaceful one—soft-spoken, meticulous, and unexpectedly ordered for a city nestled in the heart of East Africa. For Kenechukwu Uche, a Nigerian tech entrepreneur who lived in the country for two years between 2022 and 2024, Rwanda wasn’t just a spontaneous escape; it became a portal into a different cadence of life. “I liked the peace, the serenity. It’s really calm, cool, and ‘chill’ there,” he tells me. “This might sound weird, but low-level problems like light, internet, and electricity were non-existent. There’s a high level of security in Rwanda.” And that was the sell that lured him from the hustle of Lagos into Rwanda’s gentle, if underexplored, digital nomad promise. Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa Rica Croatia Cuba Cyprus Czech Republic Côte d’Ivoire Denmark Djibouti Dominica Dominican Republic Dronning Maud Land East Germany Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories French Southern and Antarctic Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong SAR China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Johnston Island Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau SAR China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Metropolitan France Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar [Burma] Namibia Nauru Nepal Netherlands Netherlands Antilles Neutral Zone New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Vietnam Northern Mariana Islands Norway Oman Pacific Islands Trust Territory Pakistan Palau Palestinian Territories Panama Panama Canal Zone Papua New Guinea Paraguay People’s Democratic Republic of Yemen Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Réunion Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria São Tomé and Príncipe Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Minor Outlying Islands U.S. Miscellaneous Pacific Islands U.S. Virgin Islands Uganda Ukraine Union of Soviet Socialist Republics United Arab Emirates United Kingdom United States Unknown or Invalid Region Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Wake Island Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Åland Islands ?> Gender Male Female Others TC Daily Events <!– Next Wave –> <!– Entering Tech –> Subscribe When Uche landed in Kigali in 2022, he didn’t come in search of buzz or scale. He came to rest. He had survived two burnouts in three years, an exhausting tour through fintech and e-commerce startups. He started his career as a product marketer at a Lagos-based furniture retail startup, Taeillo, before moving on to roles in other tech sectors. “Work was happening Monday to Friday, Saturday, and Sunday. I worked my ass off in those early years of my career,” he said. Rwanda, beyond its post-genocide reconciliation narrative, is rewriting its story from despair. It is one of clean transport innovation, infrastructural steadiness, and government-led tech optimism. At the centre of Kigali’s digital community is Norrsken House, a Swedish-Rwandan co-working space that radiates modernity and ambition. Uche quickly plugged into its ecosystem, surrounded by other freelancers, remote workers, and builders from across the continent. Rwanda, as it turned out, wasn’t just a peaceful retreat—it was also ripe with tech possibility. “This is a very new market. They are still in the early stages,” Uche said. But for someone who had cut his teeth in Nigeria’s intense and saturated tech scene, that blank canvas felt like freedom. Kigali didn’t need hustle; it needed structure, process, vision. And that, Uche realised, was a role he could play. The W2 visa and Rwanda’s sprawling ecosystem The move wasn’t permanent at first. Uche arrived on a tourist visa and extended it by three months. Within that time, he discovered Rwanda’s W2 Entrepreneurship Visa—a niche visa tailored for software-based entrepreneurs. While the country doesn’t have a “digital nomad visa” like its counterpart Kenya, the W2 visa is one of the closest things to it—like a nomad visa for builders. Rwanda also offers various visa options to make travel easier, including visa-free entry for Africans introduced in November 2024. The country is working to grow its tech ecosystem and is opening up its economy to the world to support this goal. “You can apply to the W2 visa if you are already running a software startup in your current country of residence and would love to expand operations into Rwanda,” said Uche, who was building his startup, Fluentshop. Applicants must incorporate a business through the Rwanda Development Board, rent a workspace, submit a police report from their country of residence, and write an application letter outlining their goals, said Uche. The visa application is submitted online through Irembo, and, pending inspection and approval, successful applicants receive a one-year residency permit. Altogether, the visa could cost up to 250,000 Rwandan
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What the Investments and Securities Act means for Nigeria’s crypto ecosystem
On March 25, 2025, Nigeria took a decisive step toward regulating its fast-growing cryptocurrency sector. President Bola Tinubu signed the long-awaited Investments and Securities Act (2025), replacing the outdated 2007 version. Buried in the 226-page document is a landmark provision: digital assets are now recognised as securities. The new law marks the clearest regulatory framework Nigeria has ever given the sector. It gives the Securities and Exchange Commission (SEC) wide-ranging authority over the issuance, trading, and promotion of digital assets, legalising crypto under capital market rules. The SEC can now monitor the activities of securities exchanges, conduct audits, impose penalties, suspend company operations, and even remove their executives. While the law legitimises crypto, questions linger over how its enforcement will unfold. President Bola Tinubu signed the Act on March 25, 2025/Screenshot taken from the ISA (2025)/TechCabal A framework years in the making Crypto’s legal status in Nigeria has long been murky. In 2021, the Central Bank of Nigeria (CBN) barred banks from processing crypto-related transactions, effectively shutting crypto startups out of the formal financial system. Startups adapted by routing payments through offshore banking partners or pivoting to peer-to-peer (P2P) models. The SEC issued sporadic circulars and launched the Accelerated Regulatory Incubation Programme (ARIP) in June 2024—a regulatory sandbox—but Nigeria never formalised a comprehensive framework until now. Under the ISA 2025, a digital asset is “a digital token that represents assets such as a debt or equity claim on the issuer” and includes any asset issued on a blockchain. This definition captures cryptocurrencies like Bitcoin and Ether, stablecoins, security tokens, and potentially tokenised real-world assets used as investments or that hold trading value. The Act also grants the SEC oversight of token issuers, including meme coin creators and projects raising funds through utility or investment-based coins (initial coin offerings). Creating and promoting tokens with trading value or intended to act as stores of value will now face tighter regulatory scrutiny. Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa Rica Croatia Cuba Cyprus Czech Republic Côte d’Ivoire Denmark Djibouti Dominica Dominican Republic Dronning Maud Land East Germany Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories French Southern and Antarctic Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong SAR China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Johnston Island Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau SAR China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Metropolitan France Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar [Burma] Namibia Nauru Nepal Netherlands Netherlands Antilles Neutral Zone New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Vietnam Northern Mariana Islands Norway Oman Pacific Islands Trust Territory Pakistan Palau Palestinian Territories Panama Panama Canal Zone Papua New Guinea Paraguay People’s Democratic Republic of Yemen Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Réunion Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria São Tomé and Príncipe Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Minor Outlying Islands U.S. Miscellaneous Pacific Islands U.S. Virgin Islands Uganda Ukraine Union of Soviet Socialist Republics United Arab Emirates United Kingdom United States Unknown or Invalid Region Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Wake Island Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Åland Islands ?> Gender Male Female Others TC Daily Events <!– Next Wave –> <!– Entering Tech –> Subscribe Implications for startups and foreign operators Before the ISA was signed into law, the SEC mandated digital asset exchanges and foreign operators to set up a physical presence in Nigeria to ensure closer supervision. With full regulatory backing now in place, that requirement is likely to be enforced more firmly. This raises concerns for local startups that rely heavily on foreign infrastructure providers like Stellar, Ethereum, Solana, Polygon, and developer tools such as Alchemy or Infura. Web3 startups like Sytemap, a Nigerian Web3 real estate marketplace, use the Stellar blockchain to store property and transaction records. Others rely on foreign APIs and infrastructure to provide crypto wallets, blockchain payments, run analytics, and manage core backend services. Startups build their decentralised finance (DeFi) apps on low-cost blockchains like Stellar. They also integrate stablecoins like USDC and USDT by connecting to the infrastructure provided by Circle and Tether, two of the world’s largest stablecoin providers. Foreign infrastructure providers offer the building blocks that make local startups viable. But the need for local compliance by these foreign infrastructure providers will ultimately depend on how the SEC enforces its mandate. If the regulator imposes strict requirements on foreign players, it could trigger resistance, potentially affecting local developers who rely on their tools and networks. “We built our tech stack on Stellar because of the immutability advantage, plus we wanted to limit how often we move things around,” said Ndifreke Ikokpu, CTO
Read MoreRead this before purchasing a CCTV camera for your home
With more Nigerians installing CCTV camera systems and other surveillance technology in their homes for added security, questions about privacy and consent are becoming harder to ignore. What does the Nigerian law say about recording visitors, domestic staff, and even guests in private residences? How do privacy laws come into play for those who choose to monitor their homes and those who they monitor? According to Tolu Adeyemi, a dispute resolution lawyer, many Nigerians may not fully understand the legal implications of using surveillance technology even in their private residencies and so risk unintentional violations of the law. Constitutional provisions for privacy Section 37 of the Nigerian Constitution guarantees every citizen’s right to privacy, including their “homes, correspondence, telephone conversations, and telegraphic communications.” This means that recording someone’s movements or conversations even in your home can raise legal issues, if done without their knowledge. Bernard Daniel Oke, who specialises in intellectual property rights, data protection and privacy, and media law, explains that Section 28 of the 2023 Nigerian Data Protection Act makes provision for data collated from CCTV camera systems installed even in residential homes. It “mandates a data controller (in this case, a home lender or a person who uses CCTV surveillance in their home) to carry out a privacy impact assessment” to identify the risks and impact of processing someone’s personal data. According to the Act, the data controller should consult the Nigeria Data Protection Commission if the assessment “indicates that the processing of the data would result in a high risk to the rights and freedoms of a data subject.” “By recording a person, we are collecting their private data, which is to be protected,” explains Adeyemi. Nigerians who use CCTV camera systems and other surveillance tech have a duty to inform people that their data is being collected, Adeyemi argues, adding that people who are being recorded “have a right to consent or refuse.” Even if the footage is captured within a private residence, the data collected is still considered personal information of the individuals recorded and is protected, Adeyemi explains. 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Amuneh, a corporate and commercial lawyer, agrees. “You must inform people that they are being recorded,” she says. Failing to notify individuals can lead to penalties, and the National Information Technology Development Agency (NITDA) has the power to investigate such breaches and impose fines on offenders, according to Amuneh. While the law is clear on the need for consent when using surveillance tech, there are still grey areas. Queen-Esther Ifunanya Emma-Egbumokei, a corporate lawyer with international commercial and creative economy specialisation, says there is no explicit prohibition in the constitution for CCTV use in residential homes. Privacy concerns may depend on context, she says, and a person may choose not to inform guests or domestic staff of the presence of surveillance tech in their private residence. “It only becomes illegal when it’s not done in good faith,” she adds. For instance, Oke says that a person can’t use the excuse of having CCTV systems in their home for security purposes, to record “data regarding private moments (unclad moments) of visitors in your residence.” Emma-Egbumokei supports this. According to her, surveillance technology can’t be placed in private living areas like bathrooms of domestic staff. “It should be [set up] in the kitchen, [and other] public parts of your home.” Overall, whatever footage is collected
Read MoreThe $10 tax tool saving Zimbabwean entrepreneurs from fines and fees
In Zimbabwe, complying with government tax rules can be more expensive than paying the tax itself. Small business owners are expected to buy special electronic devices, hire consultants, and in some cases, make informal payments just to comply with the country’s tax authority. But a new tool, priced at just $10 monthly, is offering a lifeline for these entrepreneurs. Roundihmp, short for Round Internal Hub Management Portal, is a software platform built by a self-taught developer in Zimbabwe. The tool allows small businesses to issue receipts, invoices, and quotations that meet the Zimbabwe Revenue Authority’s (ZIMRA) standards—without the need for expensive, government-approved machines or professional intermediaries. The app works on mobile, making it accessible and affordable for Zimbabwean small businesses who pay taxes. There’s also a provision in-app for them to comply with ZIMRA fiscalisation. This process requires businesses to use special machines, called fiscal devices, to send every receipt and invoice from their business operations to ZIMRA in real time. Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa Rica Croatia Cuba Cyprus Czech Republic Côte d’Ivoire Denmark Djibouti Dominica Dominican Republic Dronning Maud Land East Germany Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories French Southern and Antarctic Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong SAR China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Johnston Island Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau SAR China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Metropolitan France Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar [Burma] Namibia Nauru Nepal Netherlands Netherlands Antilles Neutral Zone New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Vietnam Northern Mariana Islands Norway Oman Pacific Islands Trust Territory Pakistan Palau Palestinian Territories Panama Panama Canal Zone Papua New Guinea Paraguay People’s Democratic Republic of Yemen Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Réunion Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria São Tomé and Príncipe Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Minor Outlying Islands U.S. Miscellaneous Pacific Islands U.S. Virgin Islands Uganda Ukraine Union of Soviet Socialist Republics United Arab Emirates United Kingdom United States Unknown or Invalid Region Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Wake Island Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Åland Islands ?> Gender Male Female Others TC Daily Events <!– Next Wave –> <!– Entering Tech –> Subscribe These devices are far from affordable. A single fiscal machine can cost up to $1,000. Setting it up typically requires hiring experts or agents, which adds another $200 to $300. Additionally, businesses end up paying an extra $250 to expedite the process which is usually painfully slow. Yet, non-compliance is not an option as penalties cost up to $1,000. “People were being forced into compliance without being given tools that work for them,” said Thamsanqa Bhala, Roundihmp founder and CEO. “That’s why I built this.” Bhala began building Roundihmp in 2023, two years after teaching himself to code on YouTube. Since then, he’s been adding new features based on feedback from early users. He currently runs the platform alone, occasionally bringing in freelancers when needed. His goal is to grow the startup, build a team, and expand to other Southern African countries like Zambia, South Africa, and Malawi. Right now, the app is only available in English, but Bhala is working on adding local languages such as Shona and Chichewa to make it easier for more people to use. One big challenge he faces is the high cost of mobile data in Zimbabwe. With 1GB costing over $43.75—one of the highest rates in Africa—many users can’t stay online for long. “We get a surge of users, and then they go away because of data prices,” Bhala told TechZim. Yet, he believes the platform’s value will keep users coming back. “They will have to pay taxes, and I have made it simple for them. I believe they will always return.” Helping small businesses get out of a fix For many of Zimbabwe’s estimated 3.4 million micro, small, and medium-sized enterprises (MSMEs), the government’s digital tax compliance process is simply out of reach. Government reports suggest that only 14% of small Zimbabwean businesses are formally registered, in part because of how expensive and bureaucratic the ZIMRA fiscalisation process is. Munyaradzi Tumbare, a business consultant and website developer in Harare, Zimbabwe, said Bhala’s tool has become a valuable part of his tax-paying process. “Roundihmp has proven to be efficient and fast for my clients’ fiscalisation needs,” Tumbare told TechCabal. “With Roundihmp, I can complete filings quickly and accurately, ensuring timely compliance as the fiscalisation is done in real time to ZIMRA’s Fiscal Management Data System (FMDS).” Get the best African tech newsletters in your inbox Country Afghanistan Albania
Read MoreSafaricom to launch credit, savings products to boost M-PESA in Ethiopia
Safaricom plans to launch savings and credit products in Ethiopia, hoping to boost earnings from M-PESA, its mobile money platform, which has struggled to gain traction nearly two years after launch. Since its rollout in August 2023, M-PESA has yet to make a meaningful financial contribution to its Ethiopian operations, according to numbers shared by the telco during its earnings call on Friday. The service faces stiff competition from Ethio Telecom’s Telebirr, which had nearly 51.5 million subscribers as of February 2025. “M-PESA is evolving into a full mobile financial platform, starting with payments for utilities, with plans to introduce credit and savings,” said Safaricom CEO Peter Ndegwa. Ndegwa did not share a timeline for the roll-out. It’s a different story in Kenya, where M-PESA is a major part of Safaricom’s financial services business, which now accounts for 44.2% of total service revenue. Connectivity remains the top driver at 50.8%, but M-PESA’s contribution is significant, with over 35 million customers using the service. Safaricom’s Ethiopian arm is smaller, but growing. However, despite signing up 2.4 million M-PESA customers and earning KES 8.89 billion ($68.9 million) in service revenue, just KES 410 million ($3.2 million) came from a mix of messaging, wholesale, fixed line, and M-PESA. Safaricom Ethiopia and its partners invested $850 million (KES 109.75 billion) for a telecom licence, then another $150 million (KES 19.37 billion) for the M-PESA licence. The venture is led by Vodafamily Ethiopia Holding, which owns 61.9%: Safaricom PLC controls 55.71%, while Vodacom Group holds 6.19%. Sumitomo Corporation owns 27.2% and CDC Group holds 10.9%. Ethiopia is opening up its financial sector, and Safaricom is betting this will pay off. The country licenced its first two investment banks in April 2025 and launched its securities exchange two months earlier. “Ethiopia has made progress in addressing external imbalances and improving the business climate. In March 2025, the regulator licenced the first two investment banks following financial sector reforms, including the Ethiopian Securities Exchange launch in January 2025,” Ndegwa said. M-PESA in Ethiopia is mostly about utility payments. If Safaricom gets savings and credit off the ground, it could shift things.
Read MoreSafaricom profit jumps 11% to $540 million as Ethiopian unit losses fall
Safaricom grew its 2024 full-year profit by 11% to $540 million (KES 69.8 billion), lifted by easing losses in Ethiopia and steady growth in its mobile data and mobile money services at home. The results mark a return to growth for Kenya’s biggest telecoms operator after two years of earnings pressure linked to its costly push into Ethiopia. Safaricom’s service revenue rose by 10% year-on-year to $2.8 billion (KES 371.4 billion) in the year to March, as customer numbers across the business jumped 16% to 57.1 million. Safaricom said growth was driven by increased mobile data usage, voice, and M-Pesa, which remains central to its revenue mix. The company’s main profit engine remained the Kenyan unit, accounting for most earnings. Losses from the Ethiopian unit halved to $165.7 million (KES 21.4 billion) as the company added more subscribers and ramped up its mobile money, M-PESA, rollout. “We are pleased with our performance in FY25 despite the various challenges that faced the operating environment, including economic disruptions, slowdown in GDP growth, and the impact of foreign exchange regime reforms in Ethiopia,” Safaricom said in a statement. Safaricom continues channelling investment into its Ethiopian subsidiary, building network infrastructure, and scaling M-Pesa following the mobile money platform’s launch in August 2023. “The baby, Ethiopia, is making more confident steps. It actually contributed 9% to group service revenue,” Safaricom chief financial officer Dilip Pal said. The Ethiopian unit remains in an early growth phase, but Safaricom is looking at the improving unit economics and rising subscriber numbers as encouraging signs. Ndegwa said the company expects to further narrow its Ethiopia losses to between $178.1 million (KES 23 billion) and $201.3 million (KES 26 billion) in the current financial year, compared to $472.4 million (KES 61 billion) in the year just ended. Its earnings before interest and taxes could rise 50% to $1.16 billion (KES 150 billion) in the year to the end of March 2026.
Read MoreNigeria records 85% drop in account breaches in Q1 2025
Nigeria recorded an 85% decline in account data breaches in Q1 2025 compared to the final quarter of 2024, according to a new report by cybersecurity firm Surfshark. The country reported 119,000 compromised accounts between January and March, down sharply from 786,317 breaches in the previous quarter. The sharp drop signals a possible turning point for digital safety in Africa’s largest internet market, following years of rising cyber threats and inadequate consumer protection. While Nigeria still ranks 34th globally for data breaches and third in Sub-Saharan Africa in cumulative exposure since 2004, the decline suggests meaningful progress in protecting everyday users, particularly those most vulnerable to cybercrime, as the country slowly strengthens its digital security posture. The data, which Surfshark compiled from over 29,000 public databases, shows that globally, the total compromised accounts dropped by 93%, from 973.7 million in Q4 2024 to 68.3 million in Q1 2025. The most affected countries with these breaches include the United States (16.9 million breaches), Russia (4.4 million), India (4.2 million), Germany (3.9 million), and Spain (2.4 million). In Sub-Saharan Africa, since 2004, Nigeria has recorded over 7 million compromised accounts that have unique email addresses, bringing the country’s record to a total of 23.2 million account breaches. The country also had 13 million passwords of its citizens leaked over the years, placing users at risk of identity theft, account takeovers, extortion, and other cybercrimes. “Although the number of vulnerable accounts in all major regions decreased in Q1 2025 compared to the previous quarter, people should remain vigilant,” said Luís Costa, research lead at Surfshark. “Cyberthreats continue to evolve, and attackers are constantly adapting their tactics.” Costa advised individuals and organisations to adopt strong security practices, including regular updating of passwords, enabling two-factor authentication (2FA), and staying informed about potential risks. “To protect personal and organisational data, it is essential to follow strong security practices, regularly update passwords, enable 2FA, and stay informed about potential risks,” he added.
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