M-KOPA appoints former Nokia CEO Rajeev Suri as new board chairman
M-KOPA Holding, a Kenyan startup that offers financing for smartphones and solar systems, has appointed former Nokia CEO Rajeev Suri as its new board chair. He resumes on December 1, 2024, and will replace Elizabeth Littlefield. “We are thrilled to welcome Rajeev to the board as we enter this next phase of growth for the business,” said Jesse Moore, M-KOPA CEO and co-founder.“His proven leadership in steering international companies through periods of rapid expansion will be invaluable.” Suri also served as CEO of Inmarsat, a UK-based satellite communication firm. He chairs the board at Digicel, a Jamaican telco, and is a director at Singtel, a Singaporean telco. He joins M-KOPA as it expands its footprint after raising $255 million in 2023. The company also faces millions of dollars in back taxes following a ruling by a Kenyan tax tribunal. In September 2024, M-KOPA claimed it reached five million users and disbursed over $1.5 billion in credit across its five markets, including Kenya, Uganda, Ghana, Nigeria, and South Africa. “M-KOPA represents one of the most exciting fintech propositions, not only in Africa but globally. Their use of leading-edge technologies and AI to solve the critical challenge of digital and financial inclusion is compelling and has the potential to change the way we think about consumers in emerging markets,” said Suri. Founded in 2010, M-KOPA offers solar power systems, smartphones, and electric bikes, which users pay for in small installments. The company has enjoyed an impressive growth in the past year, adding two million customers in the last 15 months. The fintech is working to hold its lead in PAYGO as more entrants, like D.Light, Sun King, and Aspira, move to capture the sector that targets low-income earners. The company has raised over $590 million in venture funding across seven rounds, with the latest being a $51 million debt financing in May 2024.
Read MoreStarlink becomes Kenya’s tenth-largest ISP one year after launch
One year after its launch in Kenya, Starlink has become the country’s tenth-largest internet service provider (ISP). The company has gained over 8,000 subscribers according to data from Kenya’s Communications Authority (CA). “Starlink Internet Services Kenya that was licenced earlier in the financial year to provide satellite Internet services had a market share of 0.5 percent as of 30th June 2024,” the CA said. Starlink’s growth is one of the fastest expansions for any ISP in Kenya, driven by strong public interest in its availability in underserved regions. In a competitive local landscape where new ISPs often take years to gain traction, Starlink’s rise signals a demand for internet access among customers previously overlooked by established providers. While Starlink’s subscriber numbers may seem modest compared to market leaders like Safaricom and Jamii Telecommunications, which have 545,000 and 360,000 subscribers, respectively, Starlink has the potential for customer growth. Unlike its fibre competitors, Starlink’s satellite internet doesn’t require extensive ground infrastructure. While its rivals factor in their infrastructure investments into pricing, Starlink relies on over 6,000 satellites manufactured by its parent company SpaceX. This allows Starlink to offer competitive pricing without incurring heavy infrastructure costs. Its cheapest plan starts at KES 1,300 ($10) for up to 200 Mbps. There’s also a residential package available for KES 4,000 ($31), offering speeds of up to 100 Mbps, priced lower than similar plans from other ISPs. Yet this advantage has put Starlink in a challenging position in the Kenyan market. Rivals like Safaricom have asked the regulator to impose stricter entry requirements for independent satellite operators. Safaricom also upgraded its fibre speeds to retain customers considering switching to Starlink, while other competitors offered discounts. Despite the intense rivalry, Safaricom said it is open to partnerships with companies like Starlink. Although details are scanty, such a collaboration could allow Starlink to take advantage of Safaricom’s extensive logistical network for distribution.
Read MoreGTCO’s switch to core banking software Finacle suffers delays and leaves customers frustrated
One month after TechCabal reported that Guaranty Trust Bank (GTBank), Nigeria’s cost-efficiency leader in commercial banking, is switching its core banking application, it told customers the upgrade was facing more delays. After sharing that it would close its 235 branches until 9 am on Monday, it extended that closure until midday. “Following our recent notification on the transition to a new and robust suite of Finacle banking Application System, we would like to update you that this transition has taken longer than planned,” the company said in an Instagram post on Monday. It confirmed TechCabal’s earlier reporting that GTBank had joined at least ten other Nigerian commercial banks that use Finacle. Group CEO Segun Agbaje confirmed the bank would make the technological change in July 2024, with sources claiming the bank’s management visited Infosys in India, bypassing any vendors. As the upgrades entered the final stages, customers were warned of service disruption over the weekend, causing considerable frustration to 32.8 million retail customers. The bank holds more than N3.85 trillion in retail customer deposits. Customers of top Nigerian banks have endured a torrid second half of the year, with technology changes and upgrades causing extended downtimes. Sterling Bank, for instance, switched its core banking application to SeaBaaS, leaving customers in the lurch for three weeks. Access Bank told customers last weekend that it was upgrading Flexcube, its core banking software. Tier-1 bank, Zenith also moved to a new core banking platform, Flexcube in September 2024.
Read MoreFintech startup Lendsqr is launching ₦1 billion working capital for lenders
Lendsqr, a startup that provides all the software companies need to start a lending business, will now offer its clients a line of credit to help them provide more loans to grow their businesses. Founded in 2018, Lendsqr counts Kredi, Snapcash, Blockacash among its clients and will offer these businesses overdrafts from a ₦1 billion purse. The company, which claims to have “thousands of lenders servicing millions of clients,” will charge qualified lenders 4% per month, and claims interest will be collected only on the portion of the facility that’s disbursed to end users, i.e., retail lenders. “If they get repayments from their borrowers and their account swings into positive, they don’t even pay any interest at all,” said Lendsqr CEO Adedeji Olowe, adding that Lendsqr will track how the loan is used to identify and address potential risks. For digital lenders that offer collateral-free personal loans, the cost of funds plays a significant role in loan pricing. Coupled with the risk of defaults, customers sometimes have to bear the brunt of high interest rates. So, while technology remains crucial to success for digital lenders, relatively cheap funds are the holy grail. “For a long time, we believed that providing top-tier lending technology was enough to help lenders scale,” said Adedeji Olowe, CEO of Lendsqr. “But technology alone cannot scale a loan business without adequate capital. That’s why we decided to go a step further and solve this critical need.” With this offering, Lendqr now joins a coterie of on-lending institutions—lenders who lend money to lenders—such as Lendable, the Nigerian Bank of Industry, and the African Finance Corporation. “We’re excited to be the catalyst for growth in Nigeria’s lending sector. Our onlending initiative isn’t just about providing capital. It’s about enabling a stronger and more inclusive financial ecosystem where every licensed lender, big or small, can thrive,” Joy Bello, Head of Sales at Lendsqr. Lendsqr runs a subscription model with packages ranging from ₦20,000 to ₦1 million per month. For non-Nigerian businesses, the product is priced at $1,000 per month. “By next year, we would have closed some of the ongoing capital conversations and should see other lenders provide 20x capital to more lenders,” Olowe added. “We are also looking at extending this to the other countries where we are either operational or available.”
Read More
👨🏿🚀TechCabal Daily – Will inflation bite in Nigeria?
In partnership with Lire en Français اقرأ هذا باللغة العربية Good morning! We hope you had a great weekend. We are still buzzing from the stellar reviews of our moonshot conference. Attendees raved about engaging conversations and were delighted by the beautiful brand experience. If you missed out on this year’s edition, mark your calendars for October 15 and 16, 2025. We weren’t the only ones receiving accolades over the weekend though. Elon Musk’s SpaceX made history after the Starship rocket was captured on its return to the launch pad. It was a world-first. Elon Musk’s Tesla also made the future history over the weekend with the launch of two autonomous vehicles, a robotaxi and a robovan, alongside Optimus, a humanoid robot. Nigeria’s inflation forecast for September is tricky Kenya agrees $736 million energy deal with Adani Zambian fintech Lupiya eyes Nigerian expansion Jobs Economy Nigeria’s Inflation forecast for September is tricky Image Source: TechCabal “It’s difficult to predict.” That’s what one analyst told me when I asked his thoughts on Nigeria’s September inflation number. While headline inflation has eased for two consecutive months, analysts I spoke to wouldn’t be drawn into predicting September inflation figures. A food harvest season and a six-month free import duty on food drove down food prices which contribute more than half of the key metric—the CPI index—for judging inflation rate. However, a 45% increment in fuel prices has driven transport prices up, a second determing factor of infation rate. Given Nigeria’s current harvest season, the increased demand for food transportation, primarily by road, will likely elevate fuel consumption. This, in turn, could contribute to a rise in the inflation rate, argues Basil Abia, an analyst at Veriv Africa. Regardless of what figures the National Bureau of Statistics show, the CBN is leaning towards a continued tightening of the monetary cycle arguing that core inflation continued to rise in July and August. In September, the Central Bank Monetary Policy Committee delivered a shock 50 basis point interest rate hike, increasing borrowing cost. The National Bureau of Statistics (NBS) will announce interest rates on Wednesday. Read Moniepoint’s Case Study on Funding Women After losing their mother, Azeezat and her siblings struggled to keep Olaiya Foods afloat. Now, with Moniepoint, they’re transforming Nigeria’s local buka scene. Click here for a deep dive into how Moniepoint is helping her and other women entrepreneurs overcome their funding challenges. Energy Adani and KETRACO agree $736 million energy deal in Kenya Image Source: TechCabal Adani Energy Solutions, a subsidiary of the Indian conglomerate Adani Group, has agreed a KES 95.68 billion ($736 million) deal with Kenya to build three transmission lines and two substations. It is a build-operate-transfer (BOT) arrangement that will see Adani construct and operate the power lines for 30 years. Adani will finance the project—its first in Kenya and the first made by any Indian company in the country—through debt and equity. It will construct 388 km of high-voltage transmission lines spanning the entire country, in collaboration with the Kenya Electricity Transmission Company (KETRACO). Kenya’s power grid is aging, causing country-wide blackouts . Repairs and maintenance were previously funded from taxpayers and grants which became insufficient. Adani Energy Solutions will recoup its investment from new charges on households’ monthly electricity bills, which will likely go higher. For Adani Energy Solutions, which operates more than 21,000 km of power transmission lines worldwide—playing a key role in electricity transmission across India’s Gujarat and Maharashtra regions—it has landed one deal it has desperately pursued since December 2023. Issue USD and Euro accounts with Fincra Whether you run an online marketplace, a remittance fintech, a payroll, a freelance platform or a cross-border payment app, Fincra’s multicurrency account API allows you to instantly create accounts in USD and EUR for customers without the stress of setting up a local account. Get started today. Fintech Lupiya, micro-lending fintech eyes Nigerian expansion, plans to raise $10 million Image Source: Empower Africa Zambian microlending fintech Lupiya, which raised $8.25 million in series A funding in 2023, plans to expand into Nigeria . After entering Tanzania in March, the fintech company is betting on Nigeria’s microlending market which already has players like Fairmoney, Branch, and Umba. In the last five years, South African fintechs Jumo, Yoco, and Stitch have expanded to Nigeria, with varying levels of success. Nigeria’s huge fintech market and the presence of key players like Flutterwave and Paystack presents an opportunity. But Zambian startups haven’t often expanded into Nigeria. Instead, Nigerian fintechs have been more likely to enter Zambia. For example, Flutterwave, Paystack, and Chipper Cash, with its acquisition of Zoona in 2022, have all expanded to Zambia. For Zambia, only Union54, which provided card issuing services to fintechs like Busha, and Zazu—which now has no marked presence in the country—have entered Nigeria. Zambia and Nigeria both have young and tech-savvy populations, which makes fintech adoption higher. Like Zambia, Nigeria is also consumption-based, with huge capital demand from retailers who are typically shut out of credit provided by traditional banks. But that’s where the similarities end. Zambia has low internet penetration and faces challenges with financial literacy, both of which could be problematic for digital-first neobanks like Lupiya. Evelyn Kaingu, Lupiya’s co-founder, has acknowledged these challenges in Zambia, where over 135 microfinance institutions provide consumer credit. Nigeria, on the other hand, has a larger population and a more developed fintech ecosystem. With three times the number of fintechs compared to Zambia, the competition in Nigeria is fiercer. Yet, Kaingu is confident of Lupiya’s ability to compete. The startup is currently raising a further $10 million in a series B funding round to enable it to compete with other microlending players in Nigeria with deep pockets. Introducing Pay with Pocket on Paystack Checkout Paystack merchants in Nigeria can now accept payments from PocketApp’s 2 million+ customers. Learn more → CRYPTO TRACKER The World Wide Web3 Source: Coin Name Current Value Day Month Bitcoin $63,928 + 1.71% + 6.21% Ether $2,531.74 + 2.73% + 4.41%
Read More
Chowdeck “looking at” South Africa and Kenya for possible expansion
Chowdeck, a Nigerian YC-backed food delivery platform, could consider expanding to South Africa, Kenya, and Ivory Coast. “We are still figuring things out, but we are looking at these countries because they have a mature market. Especially South Africa,” Kennedy Offor, sales lead at Chowdeck, said on the sidelines of Moonshot by TechCabal on Thursday. The food delivery markets in South Africa, Kenya, and Côte d’Ivoire are bustling with players. In South Africa, there is Mr D Food, a Takealot Group subsidiary, Uber Eats, Zulzi, and others. In Kenya, Chowdeck will compete with Glovo and Bolt Food. Glovo and Uber Eats are also in Côte d’Ivoire. Chowdeck, which recently celebrated reaching one million registered users, makes 40,000 deliveries daily. However, 70% of them come from Lagos State. While the company has integrated other verticals like grocery delivery, medicine shopping, advertising, and last-mile logistics to expand its offerings on its app, expanding to other countries with a similar consumer dynamic like Lagos provides growth opportunities. Until the international expansion, Chowdeck will continue working to increase the number of restaurants in its network by adding new ones and supporting existing partners to open outlets in new locations. “By opening outlets closer to places where the data shows frequent orders come, we are ensuring that food gets to people faster and at a more affordable rate,” Offor said. “We have helped smaller businesses [in Lagos] open such new outlets.” For restaurant aggregators like Chowdeck to scale orders, restaurants with high patronage must be well-distributed. So the company has also doubled down on partnerships with quick-service restaurant chains. In August 2024, it signed an exclusive partnership with Chicken Republic, which has nearly 100 outlets in the country. The company recently worked with Chicken Republic to launch a new food product. Chowdeck is also looking to support its expansion into new states. “We figure out ways to help them grow as much as we can, whether it’s a quick delivery, whether it’s the amount of data we’re able to give them in terms of where orders are coming and whatnot,” he said. Offor believes a symbiotic relationship with these restaurants is a sure path for the company’s growth. This seems like an operating philosophy that will fit right in wherever their expansion takes them.
Read More
👨🏿🚀TechCabal Daily – Much ado about food delivery
In partnership with Lire en Français اقرأ هذا باللغة العربية TGIF! Moonshot, the widely acclaimed African tech event of the year, has come and gone, but the memories, the conversations, and the pictures will forever be cherished as mementos of the journey the African tech ecosystem is on. Pulling a crowd of 4,000, featuring aces in the African tech ecosystem, from across the globe in the middle of a week? Yes, we take our flowers! We take every compliment to heart. A special shout-out to the incredible team that made it happen—including you! We discussed everything from climate and cleantech, creator economy, AI, venture capital dynamics in Africa, entering tech, and building companies that compete globally. These conversations will remain key reference points we’ll hold onto as we continue to build innovative solutions that consistently put Africa on the global map. Thank you for making this event memorable. See you next year? Much ado about food delivery Open banking still needs CBN approval to work Investors need to back African startups’s global scale ambitions, says VCs The World Wide Web3 Jobs Startups Much ado about food delivery Image Source: TechCabal If you ask me, the most interesting panel at TechCabal’s Moonshot was the panel on food delivery. During the panel discussion, Kennedy Offor (head of business development at Chowdeck), Yinka Adewuyi (founder of GoLemon, an increasingly popular grocery delivery startup), and Guy Futi (founder of Orda, a food ordering software provider) spoke about the market opportunity in food delivery. They also spoke about sustainable business models that maximise revenue in this market. Futi, who previously worked for Jumia Food Nigeria when the platform was processing a mere 300 orders daily, gained valuable insights while scaling it to 10,000. Hardened by those lessons, Futi now believes that software is the key to profitability. This conviction led him to found Orda, a software provider for restaurants, and a business unburdened by the decreasing purchasing power of consumers and the unpredictability and high cost of logistics necessary to deliver food door to door. Offor, who has co-led Chowdeck to partner with thousands of restaurants across eight markets and to serve one million users, believes the key to profitability lies in speed and a symbiotic relationship with restaurants. Chowdeck has built a reputation for delivering food and groceries within 40 minutes, half the time it took predecessors like Jumia Food, Bolt Food, and OFood. The startup has also rapidly onboarded popular restaurants and claims to collaborate with them to increase their production capacity, expand to other locations and consequently, the number of orders on the platform. On the other hand, Yinka, the founder of GoLemon, established over a year ago, believes it’s about prioritising the right elements. According to him, in the food delivery sector, there’s a triangle from which businesses must choose only two of three factors to centre their business models around: speed, price, or quality. For his grocery business, he has chosen to de-emphasise speed and has found that focusing on price and quality offers a valuable proposition. The company promises to deliver high-quality groceries at below-market prices, but customers must wait two days for their orders. This makes sense for its customers who typically order in bulk but don’t need to use it instantly and can afford to wait a day or two for delivery. Only time will tell which models find profitability first. Read Moniepoint’s Case Study on Funding Women After losing their mother, Azeezat and her siblings struggled to keep Olaiya Foods afloat. Now, with Moniepoint, they’re transforming Nigeria’s local buka scene. Click here for a deep dive into how Moniepoint is helping her and other women entrepreneurs overcome their funding challenges. Fintech Open banking still needs CBN approval to work Image Source: TechCabal Open banking is ready for Nigeria, but the Central Bank of Nigeria (CBN) is taking its time to give the green light. “All we need is CBN to blow the whistle to open banking,” Adedeji Olowe, the founder and CEO of Lendsqr, a lending platform said during a fireside chat with Uzoma Dozie, CEO of fintech startup Sparkle at Moonshot. The regulator has been slow to adopt open banking in the financial ecosystem, three years after it first released the guidelines for open banking. Open banking lets banks securely share customer financial data with fintechs and other third-party providers (TPPs) through APIs allowing fintechs to build more personalised financial services. It can unlock growth in Nigeria’s lending market, which has long been held back by insufficient data for credit assessment. With open banking, customers win as they get personalised and cheaper financial services. “Lenders want to know if they will get their money back. Open banking will ensure that they know who they are giving their money to,” Olowe said, arguing that pricing risk in credit due to little access to information about borrowers makes lending expensive. Experts, during the panel discussion, said they expect the regulator to approve open banking by 2025. Issue USD and Euro accounts with Fincra Whether you run an online marketplace, a remittance fintech, a payroll, a freelance platform or a cross-border payment app, Fincra’s multicurrency account API allows you to instantly create accounts in USD and EUR for customers without the stress of setting up a local account. Get started today. Venture Capital Investors need to back African startups’s global scale ambitions, says VCs Image Source: TechCabal African startups can build solutions that are scalable across the global market, investors who spoke at Moonshot by TechCabal on Thursday said. They need support in terms of funding, access to networks and market knowledge to achieve global ambitions. In Africa, the idea of expansion is mostly centred around launching in one of the “Big 4” markets and scaling from there. In recent years, startups like TymeBank, Flutterwave, and Moove have set up shop in markets like Southeast Asia and North America. Penetrating foreign markets requires startups to have a clear idea of what it takes to succeed in different
Read MoreAfrican startups need financial backing for global ambitions, says VCs
African startups can build solutions that are scalable across the global market, investors who spoke at Moonshot by TechCabal on Thursday said. They need support in terms of funding, access to networks and market knowledge to achieve global ambitions. In Africa, the idea of expansion is mostly centred around launching in one of the “Big 4” markets and scaling from there. In recent years, African startups like TymeBank, Flutterwave, and Moove have set up shop in markets like Southeast Asia and North Africa. Penetrating foreign markets requires startups to have a clear idea of what it takes to succeed in different countries. This clear picture of the market comes from having investors who can back the founders’ ambitions. “It seems obvious but what works in African markets might need significant tweaking to work in markets like LatAm and Southeast Asia,” said Sadaharu Saiki, founder & GP at Sunny Side Ventures. Startups like TymeBank, which launched in South Africa and is now present in the Philippines, Vietnam, and Indonesia, often cite the similar macroeconomic conditions in Africa and Southeast Asia But it takes more than just similar market dynamics to build a successful product. This is where partnerships with local players come in handy. “There will always be someone who knows the market more than you. Leverage that knowledge through well though partnerships,” added Aaron Fu, director of venture investments at DCG. As the African market becomes highly competitive and somehow saturated, foreign markets are becoming increasingly attractive. To reach their potential of penetrating these markets, it will take a combination of “patient capital,” deep knowledge of the markets and partnerships with significant synergies.
Read MoreInteroperability critical to the future of payment solutions in Africa
Favourable demographics, economic growth in the past decade, and innovation in payments infrastructure are working to define the future of payments in Africa. African businesses, whether small traders or large corporations need reliable payment solutions tailored to their specific needs. In the past decade, payment startups have attempted to solve challenges facing the continent’s payment ecosystem, with many wins and a few drawbacks. African fintechs have come a long way, but much more still needs to be done, according to payments experts during a panel discussion at Moonshot by TechCabal in Lagos on Thursday. “All these African financial systems should work together to give customers seamless transactions across borders. For instance, you should be able to use mobile money while in Ghana and Kenya,” said Unini Campbell, BudPay chief commercial officer. Despite the regulatory headwinds, funding drought, and security breaches, African fintechs have shown resilience, building platforms that respond to local challenges. However, the panelists said, that interconnection and interoperability, which should help integrate various payments systems on the continent to deliver seamless cross-border transactions, is still low. Egypt, Ghana, Kenya, Nigeria, and South Africa—have all managed the transition to digital payments faster than the rest of the continent. The five have delivered the appropriate infrastructure and policies that are driving the growth of e-payments. Yet, transacting across the borders of the continent’s biggest payments markets is still a challenge. While Nigeria has made progress in card payments, travellers have reported cases where their cards get rejected. In some African countries like Sierra Leone, P2P, and C2B payments can take up to five days, slowing trade. “We are very good at creating policies in Africa, but how are we adapting the policies to ensure that if you have a license in Nigeria, you can use it across the other markets in Africa,” said Tolulope Adeyinka, MasterCard’s fintech business development lead, West Africa. “African fintech companies are very audacious and resilient. They have worked to solve problems with localised solutions. If policies are right, then we will be able to attract capital and talent.” It is projected that by 2025, both domestic and cross-border payment volumes in Africa will hit 200 billion. This growth will be driven by young, urbanised consumers. “The growth of domestic payments like Verve in Nigeria has been great. We are heading there, despite the challenges that the sector is facing,” said Wiza Jalakasi, Ebanx director of Africa market development.
Read MoreOpen banking is ready for Nigeria, but CBN’s approval stands in the way
The Central Bank of Nigeria (CBN) needs to give the green light for open banking to become operational in Nigeria, panelists at Moonshot by TechCabal said on Thursday. Open banking in Nigeria was conceptualised in 2017 with strong backing from key players like Sterling Bank, Flutterwave, Paystack, and banking executives, the CBN’s approval is the missing piece in the puzzle. “All we need is CBN to blow the whistle to open banking,” said Adedeji Olowe, founder and CEO of Lendsqr, in a fireside chat with Uzoma Dozie, CEO of Sparkle. In 2023, the CBN released the first draft of a regulatory framework for open banking. Olowe, a Trustee of Open Banking Nigeria, admitted that developing systems, regulations, and syncing participating financial institutions and regulators have been challenging, contributing to why open banking is yet to kick off in Nigeria. Yet, it makes sense why open banking has picked up the pace in Nigeria over the last seven years; it has been tested in the U.K. as a tool to offer a level playing field for its leading lenders. Besides being one of the first countries to implement open banking regulations, open banking is also guided by the General Data Protection Regulation (GDPR), which provides a robust legal framework for data protection to ensure that users have control over their personal information. That same approach would be essential for Nigerians, especially groups accessing credit, said Dozie. With open banking, banks and other financial institutions share customer data with third-party providers like fintechs. This would allow the development of innovative financial products and services that benefit consumers, such as cheaper loans and personalised budgeting tools. It is particularly important to Lendsqr, a digital credit management startup that strongly believes that credit can be cheaper if lenders can access banking information through open banking. “Lenders want to know if they will get their money back. Open banking will ensure that they know who they are giving their money to,” Olowe said, arguing that pricing risk in credit due to little access to information about borrowers makes lending expensive. Both Dozie and Olowe believe regulators have locked in the most sensitive part of open banking: data privacy. The National Data Protection Commission (NDPC), Nigeria’s data privacy regulator, has been at the forefront of ensuring that open banking operates within the framework of the Nigeria Data Protection Regulation (NDPR). This regulation safeguards consumer data and is essential for the success of open banking initiatives in Nigeria. “
Read More