- May 10 2025
- BM
Day 1–1000: How Tunde Akin-Moses built Sycamore from his living room
What does it really take to build a startup in Africa—from the first idea to the thousandth day? In Day 1–1000, we follow founders through the raw, unfiltered journey of company-building: the early scrambles, the quiet breakthroughs, the painful pivots, and the milestones that shape what a business becomes. In this inaugural edition, we sit with Tunde Akin-Moses, co-founder of Sycamore, to unpack how a simple lending idea grew into one of Nigeria’s quietly resilient fintech stories. Day 1: A loan, a list and a leap Tunde Akin-Moses didn’t set out to become a fintech founder. But ever since his days working in credit at a consulting firm, he had noticed a persistent gap in Nigeria’s lending system—one that seemed to punish the people who needed credit most. Before Sycamore, he was comfortably employed at a major consulting firm and moonlighting as a small laundry business owner. But the Nigerian credit system treated those two roles very differently. “As a nine-to-five employee, banks lined up to give me loans. But when I needed a loan for my side hustle, even with similar revenue, it was impossible,” he recalled. The disparity nagged at him, but it was not enough to quit his job. That push came later, at Lagos Business School, where he was enrolled in an MBA program that would alter the trajectory of his life. During a case study on African fintechs serving SMEs, Akin-Moses discovered a stat that stunned him: SMEs accounted for just 1% of all bank credit in Nigeria. Along with his classmates—Mayowa Adeosun and Onyinye Okonji—who would later become his co-founders, Akin-Moses began testing ideas for a solution. Akin-Moses and his cofounders first explored about three ideas. First, they thought to give out educational loans to MBA students, but the capital required for such large ticket sizes was prohibitive. “It didn’t make sense to fund two students when we could help twenty small businesses instead,” he said. The team pivoted early. Inspired by Lending Club and Prosper in the U.S., they stumbled upon peer-to-peer (P2P) lending and realized its promise: a tech-enabled platform where individuals could pool their money to lend directly to others—typically small businesses or consumers—without relying on banks or traditional financial institutions. The model was radical but lean. It sidestepped the need for a banking license, required minimal capital, and thrived on the power of distributed trust and digital efficiency. So they launched Sycamore from Akin-Moses’ living room. Sycamore’s co-founders, Onyinye Okonji (L) and Mayowa Adeosun (Center) in Tunde Akin-Moses’ (R) living room where the startup launched. Akin-Moses and his co-founders used their combined savings and raised around $50,000 from friends, family, and LBS classmates to start issuing microloans to SMEs. While the company couldn’t afford engineers at the beginning to build its own custom tool, it modified a third-party platform and began lending in 2019. Sycamore disbursed its first loan—about ₦1.5 million, or ~$4100—in 2019. The company would get its first 100 customers from its Lagos Business School Network. “We had a lot of goodwill when we started. You know people were always using us as a point of reference. And being from LBS also really helped,” Akintunde recounted. Sycamore’s major validation came in 2020. A lender who had been watching the company quietly approached to invest ₦100 million ($260,000 at the time)—ten times the size any previous investor had committed to the company. “That was when we knew the scale of the business had changed,” Akin-Moses said. 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Read More- May 10 2025
- BM
Why Glovo thinks Nigeria is its biggest African bet yet
After exiting Ghana in 2024, citing profitability issues, Glovo is placing its next big bet on Nigeria. The country now represents the food delivery giant’s most promising growth market in Africa, as it shifts focus to regions showing stronger traction. When Glovo launched in Morocco in 2018, its first African market, the goal was simple: test the waters and move fast if things clicked. It did, and by 2019, the Spanish food delivery giant began rapidly expanding into new African cities. Today, Africa accounts for 25% of Glovo’s global footprint, and the company has invested more than €206 million ($220 million) on the continent. As competition tightens and funding pressure mounts, Glovo is doubling down on markets that show a clearer path to profitability. “If you look at the economics, the number of cities, and the complexities around urban logistics, all the indicators show Nigeria can be a really great market for us,” said William Benthall, Glovo’s global public affairs lead, in an interview on the sidelines of GITEX Africa in Marrakech. A big bet on Africa While global delivery platforms have slowed or halted their ambitions in Africa, Glovo is taking the opposite approach. The company, which was acquired by Germany’s Delivery Hero in 2022, sees Africa as a strategic pillar of its growth ambitions. Glovo operates in six African countries: Nigeria, Kenya, Morocco, Tunisia, Uganda, and Ivory Coast. Since entering the continent in 2018, Glovo says it has provided 60,000 riders with income opportunities and onboarded over 45,000 shops and restaurants across the continent, 90% of which are small- and medium-sized businesses. The company claims those vendors have earned more than €1 billion ($1.07 billion) in direct economic value through Glovo in the past four years alone. The company has onboarded around 3,000 vendors and works with 2,000 active riders in Nigeria. Its quick commerce segment, which includes groceries and non-food retail shops, has become its fastest-growing vertical in Nigeria, with gross merchandise value (GMV) surging 76% year-over-year in 2024. However, the company declined to share specific numbers. Why Ghana didn’t work Glovo’s expansion into Ghana was always a bet with some risk. The launch came at the height of the COVID-19 pandemic, during which Ghana imposed some of the continent’s strictest travel and testing rules, Benthall said. “It was the only country where you had to be tested to leave your home country, when you entered, and again when you left,” he recalled. That severely disrupted the international community in Accra, one of Glovo’s target user bases. Add to that Ghana’s steep inflation, currency devaluation, and smaller overall market size, and the exit became inevitable. “We could have done it better. Or maybe we were unlucky. Probably both,” he said. “It became clear that even if we weathered the short-term pain, the long-term picture still looked uncertain.” While Glovo’s reasons are valid, a closer look reveals a more complex picture. Even pre-pandemic, Ghana’s food delivery market had been competitive with established players like Jumia Food and Bolt Food. While e-commerce giant Jumia discontinued its food delivery business in Ghana and other countries, citing poor financial performance in those specific markets, Bolt Food has thrived in Ghana, relying on wide vendor selection, high service quality, and affordable but viable pricing. Nigeria’s Chowdeck, with over 1 million users in three years, is also expanding to Accra, becoming the latest entrant in a market projected to reach $291 million by 2029. Benthall leaves the door open. “If circumstances change, we’d certainly consider going back,” adding that Glovo will launch in new African markets, though he declined to share which ones. All-in on Nigeria If Ghana is a cautionary tale, Nigeria is Glovo’s next big test. The company was relatively late to launch in Africa’s largest economy, and has had to contend with its economic volatility, including naira devaluation, rising inflation, and infrastructure gaps. Yet Glovo sees Nigeria as its most important long-term play on the continent. Executives visited in January to assess market conditions, and the consensus, Benthall said, was unanimous: invest more. That investment is taking several forms. The company runs a customer service center in Nigeria, enabling users to speak with local agents familiar with their needs and context. Glovo has also deployed sales teams to onboard local restaurants to repeat orders. “We’re not going to succeed there just by having Chicken Republic and really big names, we’re going to succeed by really understanding people’s local food preferences and local store preferences,” Benthall said, referring to the company’s strategy to build a hyper-localised marketplace. Brand visibility is another major focus. “If you drive around Lagos, you’ll see billboards across the city,” Benthall noted. “It’s all part of building top-of-mind awareness.” From food to everything When Benthall joined Glovo in 2019, quick commerce—ultra-fast delivery typically within one hour of placing an order—was less than 10% of the company’s African order volume. Today, it makes up 30% to 50% of all orders, depending on the market, and it’s still growing. While Glovo declined to disclose exact GMV figures, the shift underscores what Benthall sees as the real opportunity. “This is the future,” he said. “I didn’t join Glovo to just deliver burgers. I joined because I saw that quick commerce was where the opportunity was.” That opportunity is increasingly visible in Nigeria, where delivery platforms that started as restaurant aggregators are now adding non-food items—including personal care, electronics, and pharmaceuticals—to their inventory. Chowdeck lists beauty and wellness items from vendors like Zaron and Medplus. Bolt Food also recently added convenience items in select areas, including beverages and packaged snacks. Why food delivery isn’t always fast Delivering food fast proved difficult for the global company used to working with restaurants with advanced cooking technology and less time-consuming recipes. Early on, Africa had the longest delivery wait times across Glovo’s global operations, Benthall said. Glovo’s average delivery time in Lagos is around one hour. Every 10-minute delay in delivery cuts reorder rates by 20%. In Africa, where poor road infrastructure and
Read More- May 10 2025
- BM
Everything I heard at the AVCA Conference
Last week, the African Venture Capital Association (AVCA) brought its flagship VC Summit back to Lagos, the home of Africa’s unicorns, for the first time in a decade, and the timing could hardly have been more charged. Against a backdrop of painful FX devaluations and a global capital-raising cooldown that has hit the continent hard, Africa’s biggest investors drilled into the continent’s toughest questions: how to unlock follow-on capital, where the next exits will come from, and who will underwrite growth outside the “Big 4” tech markets. In case you missed the insightful panels, in-person conversations, and the food and drinks, not to worry; here’s everything I heard at the AVCA Conference. From Calendly’s future plans straight from the CEO’s mouth to how Africa’s newest unicorn, Moniepoint, wants investors to earn dividends before a possible IPO. Calendly’s $3 billion lesson: Price, distribution, data Before the investors even started discussing solutions to Africa’s problems, Tope Awotona, the founder of Calendly, talked about how three elements—price, distribution and data—made his company a success. “I didn’t invent online scheduling,” Awotona told a packed opening-keynote fireside, “I just made it accessible.” Awotona explained at the AVCA Conference that his three-step playbook: price (freemium), distribution (viral links), and product (data-driven iteration) now looks prescient in an era when cash-burn tolerance has evaporated. The pandemic, he noted, merely “pulled demand forward.” Virtual meetings took off, Calendly’s user data exploded, and revenue began landing within 99.9% of the company’s forecast. Awotona argued that bottom-up PLG (product-led growth) can be as predictable as enterprise sales if the volume is big enough. Calendly’s next act? Embedding AI to “nurture” customers and keep churn negligible over the next five to seven years. Life Below 0 °C: Fundraising when the music stops Khaled Ben Jilani of AfricInvest set the tone for the first panel—Life Below 0 °C—reminding delegates that the firm has survived four macro meltdowns in 30 years by treating each as “part of a cycle, not the end.” Panelists converged on three survival rules: 1. Local asymmetry matters. Africa is a mosaic; regulatory fluency, particularly in payments, has become a non-negotiable moat. 2. Stablecoins are functional now. With 20% of global stablecoin volume already touching Africa, cross-border trade finance is being repriced “from days to milliseconds”. 3. Unit economics outrank narratives. “We’re running from models that only work at unsustainable scale,” said Mareme Dieng, partner at 500 Global, doubling down on AI-healthcare hybrids where proprietary data cuts training costs. Bridging the missing-middle The Unlocking Scale panel at the AVCA Conference tackled Africa’s yawning late-Series A/B capital gap. Walter Baddoo of 4DX fame offered the bluntest remedy: “By Series A, you need to look like a Series B company in the U.S.—or you won’t clear diligence.” Dr. Omobola Johnson, the first Nigerian minister of communications and technology and TLcom partner, urged founders to craft global stories early, while Brian Odhiambo of Novastar called venture debt the “untapped bridge” but warned that Africa still lacks the predictable revenue curves lenders crave. Titans of Industry: Inside Moniepoint and QED Tosin Eniolorunda traced Moniepoint’s rise from an InterSwitch spin-out to a platform that now processes $1.2 billion in monthly transactions. The secret? “Great fundamentals—top-line growth, EBITDA margins, ROE—then exits take care of themselves.” Nigeria’s anaemic stock market means the company is eyeing sovereign wealth or leveraged buyouts before any IPO, Eniolorunda said. Across the Atlantic, Nigel Morris of global fintech investors, QED Investors, distilled a fintech investment checklist: do no harm, price in risk, master fraud and collections, never build on loopholes, and stay intellectually humble. Half of QED’s capital now sits outside the U.S., yet 90% of its Limited Partners’ (LP) money is still American—evidence, Morris said, of “a perception lag that a single African breakout could erase.” No pressure on Moniepoint, I guess. What LPs really want in 2025 Limited partners really matter. They give fund managers money, and without them, there would be no venture capital and definitely no startups, so hearing what they want at the AVCA Conference was something most investors needed. DFI heavyweights from British International Investment, Proparco, Visa Foundation and FSD Africa Investments lined up for the LP Mindset session. The headline: discipline and differentiation beat vintage-year internal rate of return. Here are the other takeaways from the panel: Team over track record for first-time managers—but only if cohesion is ironclad. Exit thesis first. “Start with who’s buying,” urged Visa Foundation’s Najada Kumbuli. Distributed to Paid-In Capital (how much of the invested capital has been returned to investors) is king. With IPO windows shut, secondary sales and mergers and acquisitions are the new scoreboard. Venture debt: Cautious optimism Returns look “very good”, said Rosanne Whalley of AHL Venture Partners, but African venture debt will stay niche until founders accept that profitability, not the next equity round, secures loans. Convertible notes drew near-universal scorn for misaligning interests when startups stumble. Beyond the Big 4: Betting on Addis, Kigali and Dar-es-Salam Only 30% of Africa’s people live in Nigeria, Kenya, Egypt and South Africa, (the Big 4) but those four markets swallow 80% of VC dollars. Panellists argued that the imbalance cannot persist. Henok Assefa, the co-founder of Addis Ababa Angels, called Ethiopia “Nigeria ten years ago—raw talent, zero hype.” Sissi Frank, an investment officer at BIO, said deals are cheaper outside the Big 4 but warned scarcity of exit data scares LP committees. The Next Wave: Fintech (still), B2B SaaS and asset-backed plays Late-afternoon debate pivoted to sectors that could mint the next “soonicorns.” The consensus picks on the promising fund returners were: Embedded fintech everywhere. Fintech is no longer a vertical; it is the plumbing beneath others. Enterprise software for Africa’s real economy. From supply-chain ERPs to climate tech, B2B adoption is finally catching up, and investors are excited. Asset-backed finance. Future Africa’s Iyinoluwa Aboyeji is backing models that “take 20% of every productive asset they fund” as a hedge against weak discretionary spending. For all the hand-wringing about liquidity droughts and FX pain, the
Read More- May 10 2025
- BM
Despite record profits, Nigeria’s biggest banks see weak brand equity growth
Nigeria’s largest banks posted record earnings in 2024, but that financial strength hasn’t translated into brand momentum. A new report shows they recorded the weakest brand equity growth among Africa’s top banking markets, trailing peers in Kenya, South Africa, and Egypt. Brand equity, a measure of perceived trust, loyalty, and reputation, is not a financial metric but often influences consumer behavior and market share. Access Bank, GTCO, Zenith Bank, UBA, and First Bank of Nigeria collectively earned ₦4.14 trillion ($2.58 billion) in 2024, yet their combined brand value grew just 5.37% to $1.57 billion, according to the 2025 African Banking report by Brand Finance, a London-based brand valuation consultancy. That sluggish growth contrasts with double-digit brand equity gains in Kenya and South Africa, where digital innovation and stronger customer trust drive value. In Nigeria, the gap is increasingly being filled by fintechs, which outpaced traditional banks in customer satisfaction ratings last year, according to a report by KPMG Nigeria. “Despite significant profits reported by banks, their brand value hasn’t seen a corresponding increase, as the expansion of digital banking has not yet translated into a comprehensive impact,” Babatunde Odumeru, managing director at Brand Finance Nigeria, said. He said banking brands in Kenya, South Africa, and Egypt outperform Nigeria because they have been able to use their digital infrastructure much more effectively to achieve financial inclusion, “thus creating stronger brands in the process.” Odumeru added that the impact of inflation and naira devaluation also contributed to the slow growth in brand value by increasing operating costs and reducing operating earnings. Kenya’s Equity Bank, Commercial Bank (KCB), and Co-Operative Bank saw brand value rise by 25.1% to $1.18 billion. South Africa’s major banks, including Standard Bank, First National Bank, and Absa, followed with a 23.6% surge to $8.86 billion. Egyptian banks grew more modestly — 8.03% to $1.48 billion — but still outpaced Nigeria. The report revealed that on the top 22 African banking list, Zenith Bank and UBA were the only banks that saw a decline in their brand value, dropping by 16% and 26% respectively. In contrast, Access Bank, GTCO, and First Bank of Nigeria recorded brand growth, with increases of 17.8%, 31.6%, and 25.4%. How Kenya, Egypt, and South Africa are boosting banking brands In Kenya, commercial banks have integrated with platforms like M-Pesa to provide real-time loans, savings, and insurance to millions of previously unbanked users. Equity Bank and KCB, which posted combined profits of over $850 million (KSh110.6 billion) in 2024, have deployed mobile lending tools and scaled agent networks that make banking available, even in rural communities. Those efforts boosted Kenya’s formal financial inclusion rate to 84.8% in 2024, up from 75% in 2016, according to the Central Bank of Kenya. South African banks are leveraging digital-only offerings to drive scale and trust. TymeBank, launched in 2019, is Africa’s first digital bank to break even, with nine million users. Capitec Bank’s brand value skyrocketed by 81% in 2025 after a 21% spike in digital app adoption and savvy use of AI for customer engagement. Between 2011 and 2021, Southern Africa improved financial inclusion from 53.7% to 85.4% through the rapid adoption of digital financial services, including mobile money. In Egypt, the Central Bank has aggressively pushed digital transformation, resulting in a 181% rise in financial inclusion between 2016 and 2024. State-owned Banque Misr is launching the country’s first digital-only bank in the second half of 2025, while Abu Dhabi Islamic Bank Egypt is investing over EGP 1 billion ($19.6 million) in digital infrastructure and cybersecurity. A strong digital banking offering (online and/or mobile) is crucial for building brand strength, according to Jenny Moore, strategy & insight consultant at Brand Finance Africa. “It is no longer just a functional feature or a competitive advantage; it has become an essential part of any banking offering and key to building brand love, brand reputation, and credibility,” she said. A recent report by The Engagement Banking Platform, a Dutch financial technology company, said around 76% of banks in Africa rank digital transformation as either their top priority or among the top three, and about 60% of African banks have now digitally transformed most of their operations. Financial inclusion remains key Despite initiatives like the Bank Verification Number (BVN) and National Financial Inclusion Strategy, about 37% of rural Nigerians remain outside the formal banking system in 2023, compared to just 17% in urban areas. Financial inclusion in Nigeria improved from 56% in 2020 to 64% in 2023, but progress remains uneven and urban-centric. Traditional banks still prioritise high-net-worth individuals, middle-income families, and salaried urban workers, leaving vast informal and rural sectors underserved, unlike Kenyan banks, which scaled agent banking and mobile platforms to penetrate rural and underserved areas, deepening brand visibility and trust. In 2023, Nigerian banks significantly increased their agent banking networks to promote financial inclusion nationwide. According to the Central Bank of Nigeria (CBN), agent banking touchpoints grew by 47%, reaching 1.47 million in 2022, up from 1.02 million in 2021. In response to growing competition from fintech companies and improving customer service, banks have increased their investments in technology. In 2024, six of them collectively spent ₦268.7 billion ($171.5 million) on IT upgrades, a 74.5% increase from ₦153.8 billion ($98.2 million) in 2023. “The most effective path to brand growth today is through digital innovation,” Babatunde of Brand Finance said. “Nigerian Banks must embrace deeper collaboration with fintechs to stay relevant and competitive in a rapidly evolving financial landscape.” Nigeria’s largest banks must keep innovating or risk becoming financially rich but brand-poor, losing relevance, market share, and customer trust to more agile rivals across Africa.
Read More- May 10 2025
- BM
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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- May 10 2025
- BM
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 More- May 10 2025
- BM
Africa’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 More- May 10 2025
- BM
Digital 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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- May 9 2025
- BM
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 More- May 9 2025
- BM
Read 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. 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 Hauwa E. 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
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