Marketing and growth strategies for cross-border payment solutions in 2025
This article was contributed by Moyo Oluwatoyi, a Brand Storyteller at Kora, Eric Wainaina, General Manager, Conduit and James Cope, CEO CrissCross as part of the Emerging Trends in Cross-Border Payments: A Growth Guide for Stakeholders report authored by Aroghene Favour Ndulu and Paschal Okeke. A key marketing strategy for driving cross-border payment solutions in Africa has been leveraging existing payment methods/channels such as mobile money; local fintechs and banks have been clear winners in driving both paying and payouts. This has been a clear winner in quicker GTM and ultimately winning business for local and global companies looking to expand into the space. Another tactic is partnering with local and pan-African fintech influencers to promote products. Expanding into new markets is a common challenge: customers in those regions don’t know your brand yet, making it harder to earn their trust and attention. Collaborating with influencers with strong connections with your target audience can solve this problem. While this approach isn’t always the first thought in B2B marketing, it works. A great example is LemFi. Whenever they enter a new market, they team up with local influencers who are trusted voices in their community. This helps LemFi build awareness and credibility faster than traditional advertising campaigns could. The main thing here is to be deliberate, choose influencers whose audience aligns with your product, and create campaigns that feel genuine and relevant to the local culture. Tailoring messages to unique audiences Customise your messaging to align with each market’s language and cultural context. The continent is diverse, with people responding differently to marketing strategies based on cultural and behavioural nuances. One growth expert noted, “Some markets are more push than pull.” In other words, aggressive approaches may work in some regions but fail in others. To succeed, you need to understand how to communicate effectively with the audience in each country. For example, in Cameroon, where both French and English are spoken, a one-size-fits-all approach won’t resonate. Similarly, incorporating Swahili into your messaging in Uganda shows you’ve done your homework. Relying solely on English because you’re a Nigerian brand limits your impact. To grow, you need to think like a pan-African brand; your messaging must reflect that mindset. LemFi demonstrates this approach. A quick look at their Instagram page shows how they tailor content for each market, balancing local language and cultural relevance. The role of thought leadership Thought leadership plays a critical role in the market education of regulators and other stakeholders by breaking down the complexity of the industry and the many nodes around it. Most cross-border businesses are treated as remittance companies, yet they provide a different solution than what remittance companies offer. As such, thought leadership plays the role of demystifying this complexity, thus building confidence and trust. People buy from those they trust. And trust isn’t built on surface-level information; it’s built on actual knowledge and thought leadership. Sharing your unique perspective, the lessons you’ve learned, and the strategies that have worked for you differentiates you. Founder-led and expert-driven content cuts through the noise because it offers something Al can’t: authenticity, depth, and a personal touch. Something like this report. Measuring success for growth campaigns The metrics for evaluating fintech campaigns often depend on the brand, its business model, and the campaign’s specific objectives. However, some metrics consistently provide valuable insights. The most important measure of the success of a payment initiative is total payment volume. In the cross-border space, revenue can be driven by several external factors, so isn’t always the best gauge of performance. Consistent volume growth is a better measure of the relevance of a solution. There should also be appropriate monitoring of client numbers and margins. Partnerships and collaborations Partnering with market leaders in each market – regional or in-country plays a critical role. From elements such as insights into consumer behaviour, regulatory requirements, and market nuances to more important technical elements such as API integrations is a clear winning formula. Telco partnerships – all telcos are looking towards remittance and B2B cross-border payments as a growth lever for their business. They are an excellent channel for client acquisition and an effective distribution channel for fintech solutions for cross-border solutions. Key findings from a survey on growth strategies for 2025 Below are the results from a study on diverse payment stakeholders from payment companies across Africa. Their varied perspectives offer a comprehensive view of the growth strategies for 2025. What will be the most effective growth strategy for cross-border payments in 2025? Insights: According to our respondents, the top three strategies to drive growth in 2025 are partnerships, localised marketing campaigns, and leveraging blockchain for payments. Partnerships aid expansion and reduce operations costs, localised messaging ensures marketing communications resonate with the target audience, while blockchain will make payments faster and cheaper. Marketing channels to drive the most growth for cross-border payments in 2025 Insights: Growth marketers need influencers to drive growth for B2C brands. Content is king for B2B cross-border marketing; biogs, whitepapers, e-books, and more to position help to position products for growth. Other top channels are affiliate and performance marketing. Top tactics for customer acquisition for cross-border payments in 2025 Insights: To acquire new users in 2025, founders and product managers must ensure that their products provide fast transactions, competitive transaction fees, and multicurrency payment options. Enhanced security and fraud measures will also impact customer perception and trust. You can read the full report here. __________________ Moyo Oluwatoyi, a Brand Storyteller at Kora. Moyo has Over six years, he has specialised in crafting clear, compelling narratives about complex products — from fintech infrastructure to enterprise software. He enjoys making technical concepts simple and exciting. Eric Wainaina is a seasoned entrepreneur and business leader with over a decade of experience in fintech, startups, and digital transformation across Africa. He currently serves as the General Manager for Africa at Conduit, a cross-border payments platform, where he leads the company’s expansion efforts across the continent. James Cope, CEO, CrissCross. James has spent more
Read MoreNigeria targets 70% internet penetration in 2025 with National Broadband Alliance
The Nigerian Communications Commission (NCC) has officially launched the National Broadband Alliance for Nigeria (NBAN), a policy initiative to expand internet access nationwide. The initiative targets key sectors, including schools, healthcare facilities, religious centers, and markets, in a bid to create a sustainable model for widespread broadband adoption. NBAN aligns with Nigeria’s National Broadband Plan (2020-2025) and the Strategic Blueprint from the Ministry of Communications, Innovation, and Digital Economy. The initiative’s goals include increasing broadband penetration from 44% in December 2024 to 70% by 2025, providing minimum data speeds of 25 Mbps in urban areas and 10 Mbps in rural areas, and boosting broadband investments by 300–500% by 2027. NBAN adopts a collaborative approach, bringing together state governments, schools, hospitals, telecom operators, and infrastructure companies to drive broadband expansion across the country. The initiative starts with a pilot program in eight states: Edo, Ogun, Kwara, Katsina, Imo, Abia, Borno, and Nasarawa. “Achieving these goals will require more than just the efforts of the private sector. It will require a holistic approach that includes strategic partnerships with donors, investors, and other key stakeholders in accelerating the roll-out of critical infrastructure,” Aminu Maida, executive vice chairman of the NCC said at the kick-off meeting in Lagos on Tuesday. In a related development, on January 20, 2025, the NCC approved a 50% tariff increase for telecom operators, with the condition that service quality must improve within three months of implementation. While the new tariffs are not yet in effect, operators are already preparing to comply with the NCC’s requirements. The NCC has also reportedly approved a roaming and spectrum-sharing agreement between MTN Nigeria and 9mobile. Under the agreement, 9mobile, Nigeria’s fourth-largest telecom operator, will leverage MTN’s nationwide infrastructure to improve its network coverage. This arrangement enables 9mobile subscribers to make calls, send messages, and use data services in areas where 9mobile lacks coverage. For MTN, the partnership offers profit-sharing opportunities and access to 9mobile’s spectrum holdings, including the 900 MHz, 1800 MHz, and 2100 MHz bands. Airtel Nigeria has also outlined plans to expand its network to more locations, upgrade existing sites, and enhance service delivery, according to CEO Dinesh Balsingh. However, meeting the NCC’s three-month deadline could be a significant challenge. As of January 2025, Nigeria’s internet penetration stands at 44%, significantly lower than South Africa and Egypt, which reported 74.7% and 72.2% penetration in 2024, respectively. Additionally, Nigeria struggles with low-speed internet deployment, with 4G penetration at 47% and 5G at just 2.4%, two years after its launch. “Tariff increase is not all the problem that the industry faces,” Gbenga Adebayo, President of the Association of Licenced Telecommunication Operators of Nigeria said at a telecom CEOs town hall last week. According to him, the 50% increase only allows the operators to recoup some of the revenue losses and fund infrastructure deployment in some underserved areas. Still, it does not address multiple taxation, vandalism of telecom infrastructure, and insecurity across the country. Aminu Maida, NCC’s executive vice chairman, believes the NBAN initiative can help address these challenges in three key ways: streamlining regulatory processes to expedite fibre deployment, creating incentives for private-sector investment in underserved areas, and launching public awareness campaigns to encourage broadband adoption and usage.
Read MoreSafaricom, Kenyan commercial banks propose Pesalink for national payments overhaul
Safaricom and the Kenya Bankers Association (KBA) have proposed that Pesalink become the preferred next-generation fast payment system (FPS) in Kenya, arguing for an industry-led solution to streamline digital payments. The recommendation, outlined in a proposal submitted by both parties, calls for Pesalink’s existing infrastructure rather than creating a new FPS or relying on multiple private switches. Pesalink, operated by the KBA through its fintech arm, Integrated Payment Services Limited (IPSL), currently supports $8.5 billion (KES1.1 trillion) in Kenya’s digital payments. According to the proposal, using Pesalink as the foundation for the national FPS would ensure seamless interoperability across different payment platforms, such as banks, mobile money operators like M-Pesa, and fintechs. This would bridge the gaps in Kenya’s fragmented payments landscape, which often sees mobile money platforms operating separately from traditional financial institutions. “In this scenario, CBK, banks, mobile money operators, switches, SACCOs and fintechs use an existing industry player,” Safaricom and KBA said in the proposal. “In effect the existing industry player, in this case IPSL, is designated as the FPS, making the required changes required to meet the requirements for neutrality.” The proposal comes as Kenya’s digital payments ecosystem grows increasingly complex. Banks, SACCOs (Savings and Credit Cooperative Organizations), and fintechs each rely on private agreements to connect to mobile money systems. This patchwork structure has led to varying transaction fees and inconsistent service quality. Safaricom and KBA argue that leveraging Pesalink’s existing framework will help standardize the system and reduce transaction costs for users and businesses alike. Why Pesalink? Developing a new FPS infrastructure from scratch, the two parties suggest, could cost at least $200 million (KES 25.9 billion) and take up to four years to complete. Upgrading Pesalink is cheaper, allowing for faster deployment of the new system while minimizing financial outlay. However, the proposal also acknowledges that Pesalink would need to be upgraded to meet the needs of a nationwide FPS. Safaricom and KBA stated that Pesalink must handle at least 6,000 transactions per second and enhance its capabilities to ensure interoperability across all payment platforms, along with better risk management and security features. While Safaricom and KBA argue that upgrading Pesalink is the best way forward, they acknowledge that there are alternative models. One such model is the Colombian approach, which utilizes multiple private switches managed by a centralized regulator like the Central Bank of Kenya (CBK). While this system is seen as a cost-effective option, the two parties suggest that it could lead to inconsistencies in service quality and governance, as multiple switches would complicate regulation and oversight. “A more integrated payments ecosystem would support the growth of Kenya’s digital economy by making it easier for businesses and individuals to transact across different platforms. This aligns with the CBK’s vision for a unified and interoperable payments system, potentially simplifying regulatory oversight,” said Ali Hussein Kassim, Association of FinTechs in Kenya chairman. Although the Central Bank of Kenya (CBK) has not yet decided on the proposed FPS upgrade, there is significant lobbying for the regulator to push for an upgrade to the existing infrastructure. If the proposal is approved, the Pesalink system would undergo significant upgrades to support the anticipated volume of digital transactions. Safaricom and KBA envision a future where Pesalink can handle not just basic payments but more complex transactions, including cross-platform payments between mobile money providers, banks, and fintechs.
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👨🏿🚀TechCabal Daily – TradeDepot takes a bite
In partnership with Lire en Français اقرأ هذا باللغة العربية Good morning Come write for TechCabal. We’re seeking deeply reported features on innovative startups, the business of tech, policymaking around innovation, and the intersection of culture and technology all across Africa. Send a pitch to kay@bigcabal.com. For more on what to include in your pitch, please check out our pitch guide. Marasoft denies all allegations Airtel and MTN under investigation over false advertising Flutterwave CEO’s venture studio launches AI accelerator TradeDepot launches Mangrove, its food brand World Wide Web 3 Events Startups Marasoft denies all allegations GIF Source: Wunmi Eunice/TechCabal Marasoft, the Nigerian fintech founded by Emmanuel Marakwe-Ogu, has refuted allegations that it paid staff with funds suspected to be fraudulent, though it has not offered further details due to non-disclosure agreements. According to a spokesperson, “disgruntled former employees” have spread false information about the company. Operating in both Kenya and Nigeria, Marasoft enables businesses and individuals to collect payments through its platform. TechCabal first reported these claims on January 25, following interviews with 10 former employees and with Flutterwave—the wallet provider from which the disputed funds were allegedly transferred. The company also claimed that it laid off 25% of its staff in January for “economic reasons,” reducing its workforce from 35 to 25 employees, but did not provide any proof. Former employees have alleged that their bank accounts remain blocked due to the suspected fraudulent funds, and documents obtained by TechCabal indicate that their salaries were “traced to a fraudulent merchant.” In addition, Marasoft denied any involvement in a 2022 Kenyan court case, despite publicly available documents naming the company. The case, which involved Marasoft and other fintech firms, reported deposits totalling over $55 million into Flutterwave. Afincran Connect: A Fintech Mixer by Fincra Fincra is hosting an exclusive fintech mixer on 12th February 2025 in Nairobi, bringing together industry leaders for networking, conversations, and connections. Nairobi | 18:00 – 21:00 EAT Limited spots—RSVP now. Telecoms Airtel and MTN under investigation over false advertising Image Source: Zikoko Memes An African regional economic organisation, COMESA, is investigating two telecom operators—Airtel and MTN Group—for allegedly misleading consumers about mobile money transaction fees. COMESA—the Common Market for Eastern and Southern Africa—is examining whether these companies failed to disclose important details, such as foreign exchange rates for cross-border transfers, which could influence customer decisions. COMESA’s consumer protection laws require payment platforms to show all transaction costs, including foreign exchange rates, before a payment is confirmed. In Kenya, for example, Airtel has been criticised for sometimes displaying fees that differ from the final charges confirmed to the sender. Additionally, the exchange rates used for international transfers were not revealed, leaving users uncertain about the true cost of their transactions. Airtel has also been accused in Malawi of not disclosing intermediary fees and other transaction details. MTN faces similar scrutiny in Uganda, where the company is under investigation for showing different amounts to senders and recipients during international transfers. Although these investigations seek to determine if Airtel and MTN have violated regional consumer protection and anti-trust regulations, no wrongdoing has been conclusively proven at this stage. The cases highlight the increasing need for transparency in mobile financial services across Africa, where millions of people depend on these platforms for everyday transactions. AI Flutterwave CEO’s venture studio launches AI accelerator The first cohort of the Go Time AI accelerator If you’ve been following the Deepseek chatter on Twitter, you’d agree that AI’s kind of a big deal. But while everyone’s talking about it, Olugbenga Agboola, CEO of Flutterwave is doing something about it. He’s betting big that Nigerian AI startups have what it takes to be global players, and he’s putting his money where his mouth is. His venture fund, Resilience17 (formerly Berrywood Capital), just launched Go Time AI, an accelerator designed to support African startups working on artificial intelligence products. The first cohort of the Go Time AI accelerator launched in 2024, providing participating startups with financial support, technical resources, and guidance from industry experts. The venture studio will offer up to $200,000 in funding and mentorship to selected startups, in exchange for 8% equity. The accelerator provides access to cloud computing credits and API services to help build, test and scale AI products. Applications for the second cohort will open in May 2025. The accelerator is a four-month sprint, starting with a Lagos kickoff and punctuated by bi-weekly Demo Nights. Founders get schooled by industry heavyweights like Wiza Jalakasi from EBanx, Olusola (Olu) Amusan, Co-founder and CEO at Vesti and Samee Zahid of Chipper Cash. “Our goal was not to teach founders how to run a company, but specifically narrow the focus on what we see as the most important things any early stage companies should be focused on,” Hasan Luongo, General Partner of Resilience17 told TechCabal during the Demo day. Check out the startups selected for the accelerator’s inaugural cohort. You can now integrate Paystack with Vendy Vendy makes it easier than ever for businesses on WhatsApp to buy, sell, and receive payments. With Paystack integration, you gain access to secure local payment methods and fast, hassle-free payouts directly to your bank account. Learn more here → Startups TradeDepot launches Mangrove, its food brand Image source: Mangrove/TradeDepot TradeDepot, an African B2B e-commerce platform that connects retailers to FMCG manufacturers, has decided to produce sardines. The startup is expanding its business by moving into food production by launching its own food brand, Mangrove, marking a strategic move up the supply chain. Currently, TradeDepot’s catalogue includes 13 products ranging from flour and oils to various ingredients. In an industry where margins are slim—typically between 5% and 12%—startups are increasingly seeking ways to boost revenue from existing customers. While some, like Omniretail, are doubling down on fintech through acquisitions (such as its purchase of Traction Apps in 2024), TradeDepot is taking a different approach with backward integration. By leveraging its platform’s data on retail demand and its established distribution network, the startup aims to produce
Read MoreMarasoft denies fraud allegations but fails to share evidence, blames “disgruntled” ex-employees
Marasoft, the Nigerian fintech founded by Emmanuel Marakwe-Ogu, has denied allegations that it paid employees with suspected fraudulent funds but declined to provide specifics, citing non-disclosure agreements. TechCabal first reported the claims on January 25, based on interviews with 10 former employees and Flutterwave, the wallet provider from which the funds were allegedly transferred. Marasoft provided no evidence to back its refutation and attributed the allegations to “disgruntled former employees” spreading “false information.” In an interview with TechCabal, the company declined to clarify or provide documentation to support its denials. The company’s spokesperson claimed the allegations resulted from personal grievances but did not answer questions about claims that it drew $54,000 from a wallet following a glitch and used that money to pay staff salaries. Former employees told TechCabal that their bank accounts remain blocked due to suspected fraudulent funds, and documents seen by TechCabal show that their salaries were “traced to a fraudulent merchant.” The company also denied claims that it paused its operations and said it reduced its workforce by 25% in January due to “economic reasons.” However, documents obtained by TechCabal from two former employees indicated that the startup paused operations. “We are excited to announce that Marasoft Pay will be resuming full operations in the coming days. However, it’s important to note that we will be moving forward with a streamlined team, focusing on the roles that are critical to our next phase of growth,” read a letter sent to employees on January 6, 2025. The company also denied involvement in a 2022 Kenyan court case that named Marasoft as one of the fintechs that deposited over $55 million into Flutterwave, despite publicly available court documents that name the company. Marasoft’s spokesperson dismissed the court documents. Despite Marasoft’s continued denials, former employees stand by their claims, providing documents to support the allegations. While TechCabal has not independently verified the authenticity of these materials, the consistency of former employees’ testimonies and the lack of substantial proof from Marasoft raise questions about the company’s transparency. How Nigerian fintech Marasoft paid salaries with suspected fraudulent funds, trigerring account freezes and employee anguish
Read MoreFlutterwave CEO’s venture studio Resilience17 to invest $200,000 each in selected AI startups
Resilience17 (formerly Berrywood), the rebranded venture fund and studio founded by Flutterwave CEO Olugbenga “GB” Agboola, has launched a new AI-focused accelerator, Go Time AI, aimed at supporting African startups working on artificial intelligence products. Initially launched in 2021 as Berrywood with portfolio companies like Klasha, Pivo, AltSchool, and Bamboo, the venture studio will offer up to $200,000 in funding and mentorship to selected startups, in exchange for 8% equity ownership. The first cohort of the accelerator Go Time AI launched in 2024, providing participating startups with financial support, technical resources, and guidance from industry experts. Startups selected for the accelerator will receive up to $200K in funding—starting with an initial $25,000, followed by up to $175,000 in subsequent rounds. The program provides access to cloud computing credits and API services to help build, test, and scale AI products. “Despite challenges acutely highlighted in 2024, Nigeria is poised to continue leading as a global technology hub and can lead in AI. We launched Go Time AI to prove this thesis. After the last 4 months working closely with the 1st cohort of AI companies, that conviction has only become stronger,” said Hasan Luongo, General Partner of Resilience17. As AI dominates global discourse, African founders are working to carve out their place in the industry. However, access to capital, infrastructure, and technical expertise remains challenging. The accelerator aims to bridge this gap, providing funding, mentorship, and resources to help African startups build and scale competitive AI products. Go Time Accelerator launch comes after Iyin Aboyeji, the founder of the VC firm Future Africa, and Mia von Koschitzky-Kimani launched Accelerate Africa, an accelerator styled to be the YC of Africa. The accelerator launch also comes after Massimiliano Spalazzi, former Jumia Nigeria CEO and Olumide Soyombo, a Nigerian angel investor launched JADA, a data & analytics talent hub to help companies across the world access AI talents on the contient. Last year, Go Time AI admitted five startups into its first cohort. The five startups—which presented their pitches at its demo day in January 2025—include: Catlog, an AI-bot that helps businesses sell, manage customer inquiries, take payments, and deliver goods via Instagram and WhatsApp; Sahel AI, an AI-powered contract review and drafting tool for law firms and in-house legal teams; Tyms, an AI-powered accounting software for small businesses; AI Teacha, an AI powered tool that helps teachers with lesson planning, presentations, and learning material development; FriendNPal, a 24/7 mental health AI companion and live therapy platform. The selected startups recieved $25,000 upfront and will recieve and up to $175,000 more in two subsequent rounds. The accelerator doesn’t have a dedicated fund but draws from Resilience17’s $35 million fund pool. It also has no fixed cohort size and remains open to accepting more startups. The accelerator begins with a kickoff week in Lagos, followed by a four-month program designed to provide founders with hands-on learning and mentorship. Every two weeks, participants gather for in-person Demo Nights, where they showcase progress and receive feedback engage with investors, mentors, and peers. A core part of the accelerator is Office Hours, where founders engage in deep-dive discussions on critical aspects of their startups. These sessions cover technical development, product strategy, and go-to-market (GTM)/growth tactics. Founders receive direct guidance from experienced entrepreneurs and industry experts who share insights based on real-world experience. In the first cohort, founders learned from experts like Wiza Jalakasi from EBanx, Olusola (Olu) Amusan, is Co-founder and CEO at Vesti, Samee Zahid of Chippercasj, Yewande Akomolafe-Kalu of Flutterwave and many others. “Our goal was not to teach founders how to run a company but specifically narrow the focus on what we see as the most important things any early stage companies should be focused on. Building a world class product experience and getting users into the product and to the magic moment where they see clear value,” Luongo added. Go Time AI is off to a strong start, with participating founders confirming that it delivered on its promise—to sharpen their storytelling, refine financial models, enhance product thinking, and connect them with corporates and investors. Applications for the second cohort will open in May 2025. TradeDepot moves into food manufacturing with new brand, Mangrove
Read MoreTradeDepot moves into food manufacturing with new brand, Mangrove
TradeDepot, a B2B e-commerce platform that connects FMCG manufacturers with retailers, is taking a significant step upstream by launching its food brand, Mangrove. The new venture will produce and distribute affordable food items like sardines, rice, flour, peas, and canned fish. The goal is to offer consumers more cost-effective options amid rising inflation and the naira devaluation. Although Mangrove has not yet officially launched, it is already attracting distributors through its website. The product line, which includes essential food items, aims to bypass the “brand tax”—the premium consumers often pay for well-known labels. By sourcing high-quality products at lower costs, TradeDepot intends to pass those savings on to consumers, making essential food items more affordable. “We used to simply distribute for brands,” says CEO Onyekachi Izukanne. “Now, we’re integrating backwards into the supply chain by producing our products and bringing them directly to the market.” For example, Mangrove’s sardine will be priced at ₦1,050, significantly cheaper than the popular Titus sardine, which retails for ₦1,450. For low-to-middle-income consumers, the cumulative savings can make a significant impact, allowing them to buy more items or save for future purchases. This shift to manufacturing comes at a critical time for Nigerian consumers, who are grappling with inflation, which has reached 34.8%, and the depreciation of the naira. With shrinking purchasing power, Mangrove could prove advantageous for TradeDepot, positioning the company as a key player in Nigeria’s food sector. A successful retail brand, combined with its extensive retailer network, could make TradeDepot an attractive acquisition target for FMCG companies, according to a former executive at an FMCG company who asked to not be named to speak freely. The company mirrors major distributors like Amazon and Costco, which have leveraged their brands to drive revenue and enhance brand value. “TradeDepot knows what sells and they have the network to scale distribution,” the executive added. However, the shift from distribution to manufacturing brings new pressures. Importing goods means that any production delays or missed schedules can result in additional costs, putting pressure on TradeDepot’s margins. “When they were only concerned with last-mile distribution, they could source products locally,” the executive explained. “But now that they are manufacturing and importing, every extra day outside schedule incurs additional costs.” TradeDepot’s move into food production enables the company to turn competitors—middlemen and other last-mile distributors—into customers. “Our biggest competitor is the wholesaler in the market,” Izukanne says. “They can cut corners in ways we can’t and have a different cost structure.” The company’s deep knowledge of the FMCG sector and its extensive distribution network also give it a competitive edge. By using data to advise manufacturers on distribution strategies, TradeDepot aims to offer a more cost-efficient way for brands to enter the African market, avoiding the complexities of navigating information asymmetry, logistics inefficiencies, and retail channels. The company has already secured exclusive distribution rights for products from established brands like Unilever and Prime Hydration, a beverage brand co-owned by internet celebrities Logan Paul and KSI. With these exclusive deals, TradeDepot is positioning itself as a one-stop solution for FMCG brands seeking to scale their African presence. TradeDepot has also reworked its logistics model to accommodate its new manufacturing operations. Previously responsible for managing every part of its distribution network, the company now relies more on third-party providers for logistics. This shift allows TradeDepot to scale more efficiently while focusing on its core business of connecting manufacturers to retailers. TradeDepot’s decision to move upstream contrasts with other startups in the B2B e-commerce space, such as OmniRetail, which has expanded its business into fintech. OmniRetail recently acquired Traction Apps, a fintech startup, to boost its gross margins and expand its payment services. In contrast, TradeDepot is focusing on manufacturing and exclusive distribution, a strategy that it believes offers more direct value to its customers and partners.
Read MoreCOMESA investigates Airtel, MTN over hidden mobile money fees
The COMESA Competition Commission is investigating Airtel Mobile Commerce BV and MTN Group for allegedly misleading customers about transaction fees and failing to disclose foreign currency exchange rates for cross-border transfers in multiple markets. Airtel is under scrutiny for violating consumer protection laws in Kenya, Uganda, and Malawi, while MTN Group faces similar allegations in Uganda. Payment platforms operating with the COMESA region–a bloc of 21 African countries–must disclose the full cost of transactions, including forex charges before they confirm any payment. The requirement aims to protect consumers by promoting transparency in money transfer fees. “In the case of Airtel Mobile Money Kenya, the charges displayed to the sender before confirming the transaction are, in some instances, different from the actual charges indicated in the final confirmation message and details of the intermediary parties, as well as the exchange rate used are not disclosed to consumers,” COMESA Competition Commission said in a notice. In Malawi, the commission has accused Airtel Mobile Commerce Malawi Limited of failing to disclose transaction details, including sender information, fees charged, and intermediary parties. These alleged omissions violate the bloc’s anti-trust regulations, which mandate transparency from companies operating within the 21-member trade area. Airtel’s mobile money services in Malawi and Uganda also did not give senders the exchange used in cross-border transfers and the amount in recipients’ currency, COMESA said their findings show. “The alleged conducts are considered misleading and unconscionable as it denies consumers the right to material information required to make informed decisions,” the commission said. In some instances, the exchange rate displayed to users in Uganda differed from the rate applied to transactions. The operator did not also reveal the extent of consumer information shared with intermediaries involved in the transfer process. For its part, MTN Mobile Money Uganda Limited allegedly displayed different amounts to senders what recipients received in international money transfers. While the investigations will establish whether the telcos breached regional anti-trust laws, they do not, at this point, imply unfair business practices on the part of MTN Group and Airtel.
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Startups don’t die—they adapt with purpose
Cet article est aussi disponible en français <!– In partnership with –> <!–TopBanner Join us for TechCabal Battlefield, Moonshot’s startup competition where you can showcase your startup idea to a global audience and an esteemed panel of judges and stand a chance to win up to 2.5 million naira in funding for your business! Click to register for TC Battlefield First published 02 Feb, 2025 The world of startups has always been high-stakes. Economic turbulence like currency devaluation in Nigeria and Kenya’s tax hikes to meet its debt obligations, add an extra layer of pressure for African startups. Amid these challenges, resilience has become their defining trait. While large corporations with deep pockets and established infrastructure can weather storms, startups rely on another important feature: adaptability. Yet, the prevailing narrative that startups must constantly adapt is only part of the story. Adaptability is critical, yet it risks becoming a crutch if it isn’t grounded in a clear vision and solid market understanding. Take Paystack, for instance, which centres its growth on enabling SMEs, strategically solving a key pain point on the continent, integrating with global platforms and focusing on scalable digital onboarding. Paystack’s success wasn’t just about reacting to market changes; it was about a calculated response to market needs, based on a deep understanding of its core mission. Next Wave continues after this ad. Join millions of Nigerians earning 20% interest on their savings with zero risk. Trusted by 35 million users and 1.2 million businesses, PalmPay empowers your money to do more. Start saving today! Resilience, in this case, isn’t about surviving through luck—it’s about robust execution. But resilience also goes beyond sheer adaptability. Too often, startups are told that in order to succeed, they must pivot and embrace change at every turn. But what if constant adaptation is a double-edged sword? Excessive adaptability can also dilute vision. While flexibility and agility are valuable traits, startups need more than just a willingness to change direction at a moment’s notice. History shows there’s merit in stubbornness—a commitment to a core idea, even in the face of market resistance. In fact, sticking to a rigid vision can differentiate a startup and attract investors looking for a company with a clear, unwavering purpose. The question, then, isn’t simply “adapt or die,” but “adapt with purpose or die.” Startups that flit between trends or constantly change direction without clear strategy risk losing their identity, wasting time, and, ultimately, failing. Partner Content: Read: [Raenest Returns as Headline Partner for Africa Tech Summit Nairobi 2025, Championing Global Growth for African Tech] here. Failure isn’t just a closed website; it’s the shattered dreams of founders, the lost livelihoods of employees, and the unfulfilled potential of an idea. The stakes are higher for African startups that operate with limited resources and in challenging environments. Failure here means significant debt, a damaged reputation, and repercussions for future investment in the local ecosystem. Of course, some startups pivot into new ventures or merge with other entities, but this is often the exception. For most, failure is final—a painful chapter that ends a journey. The pressure to constantly adapt can lead to a loss of focus and undermine the initial vision, eventually killing the startup’s original idea. Is constant adaptation the best strategy? Or would a more measured approach, balancing agility with a strong core vision, be more sustainable? Perhaps fewer startups would “die” if they adapted with purpose, based on a long-term vision, rather than simply reacting to every passing trend. If resilient startups understand one thing, it’s that they can’t succeed in isolation. Success isn’t just about internal strategies; it’s also about tapping into external support. Startups thrive when they connect with entrepreneurial networks—both physical and digital—that provide resources, knowledge, and opportunities otherwise out of reach. Next Wave continues after this ad. Don’t miss your chance to be part of this revolutionary across two international capitals at the heart of the UAE’s rise to global AI dominance—Abu Dhabi and Dubai from 4—6th February 2025. Secure your spot today! In the past, building these networks meant attending industry conferences or joining local business associations. Today, the game has changed. Startups can now leverage online platforms like LinkedIn, Slack communities, and crowdfunding sites to build global connections. These networks offer mentorship, partnerships, and investor access—critical lifelines that allow startups to navigate uncertainty with greater ease. Innovation isn’t just about creating groundbreaking products; it’s about responding to change faster than the competition. Resilient startups don’t just innovate—they integrate innovation into their DNA. Consider M-KOPA, the Kenyan credit startup. Founder Jesse Moore identified a critical gap: millions of people lacked electricity but had mobile phones. By offering pay-as-you-go solar systems that could be paid for in small installments via mobile money (M-PESA), M-KOPA provided an innovative solution to an urgent problem. Moore didn’t chase flashy features; he focused on affordability and accessibility. The result? Over 3 million customers and a revenue model that scaled sustainably. Innovation, though, doesn’t always have to be about creating the next big thing. In fact, the most successful startups often find new ways to solve old problems. The challenge is to innovate adaptively, responding to market shifts before the competition can. For example, during the pandemic, many food delivery startups pivoted to offer grocery delivery services, a trend that continues to grow today. Partner Content: Read: [Flutterwave, Yellow Card, OmniRetail named finalists for inaugural Africa Tech Summit Awards] here. The world is only becoming less predictable, but uncertainty doesn’t have to spell doom for startups. Those that adapt, innovate with purpose, and build strong networks will not only survive economic uncertainty—they’ll emerge stronger. The real question isn’t whether startups should adapt to survive; it’s how they can adapt with purpose, staying true to their mission, and navigating change in a way that’s sustainable. Startups rely on wit, but another argument comes into play: whether these firms need to adapt or wither away. Focusing on the same argument may create a false dichotomy. Startups need deep
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👨🏿🚀TechCabal Daily – Telecom Turbulence
In partnership with Lire en Français اقرأ هذا باللغة العربية Happy new month We’re now on TikTok! We’re going to be focusing on video a lot this year. You can expect bite-sized insights, founder stories, memes, and exclusive behind-the-scenes content that make tech more exciting. Follow us on TikTok @techcabal_ and join the conversation shaping Africa’s tech future! 9mobile’s market share shrinks even further Nigeria’s telecoms industry lost 24.6 million subscribers in 2024 Kenya’s December inflation gives hope of a rate cut World Wide Web 3 Events Telecoms 9mobile’s market share shrinks even further GIF Source: 9mobile Nigeria’s telecom market is proving too fierce for 9mobile. Data from the Nigerian Communications Commission (NCC) shows the country’s smallest telecom by subscriber base, 9mobile, has seen its market share shrink to just 1.9% (3.2 million subscribers)—its lowest ever. While the telecom’s market share dipped, its subscriber base stayed flat, showing that other telecoms grew their active user base. Yet, this decline didn’t happen overnight. The telecom has been losing market share over the years. In 2015, 9mobile held 15.7% of the market with 23.4 million users. By 2022, that number had dropped to 12.8 million. In September 2024, an NCC regulatory audit further slashed its market share to 2%. Now, at 1.9%, it’s losing ground fast. 9mobile is losing subscribers to its competitors. Over the past year, over 7,000 9mobile subscribers have ported to other network providers due to 9mobile’s poor internet service; the issues have persisted for two years due to its inferior broadband infrastructure reach compared to other telecoms. As of September 2024, 9mobile’s download speed as an internet service provider (ISP) stands at 17.82 megabytes per second (Mb/s), which is nowhere near the level of other telecoms and ISPs in Ookla’s recent H2 2024 report. Beyond its history of loan defaults, debts, and ownership changes, 9mobile is struggling to attract high-value users. Once a bold disruptor targeting young Nigerians, it has failed to keep up with rising tech demands and remote work trends in the country, which have seen tech workers demanding faster internet. Deolu Ogunbanjo, president of the National Association of Telecommunications Subscribers (NATCOMS), believes 9mobile can only recover if it secures fresh capital. Its new owner, Light House Telecom, which acquired a 95% stake for $750 million in July 2024, is yet to invest in infrastructure or marketing to make the telecom competitive again—or show any intention of raising money. Is history repeating itself? In 2018, Teleology acquired 9mobile but lacked the funds and strategy to revive it, leading to a failed attempt to raise capital. Will Light House Telecom follow the same path, or can it turn things around before it’s too late? Dive deeper into our definitive reporting of 9mobile growth and decline to understand where it stands in the competitive Nigerian telecom market. Afincran Connect: A Fintech Mixer by Fincra Fincra is hosting an exclusive fintech mixer on 12th February 2025 in Nairobi, bringing together industry leaders for networking, conversations, and connections. Nairobi | 18:00 – 21:00 EAT Limited spots—RSVP now. Telecoms Nigeria’s telecoms industry lost 24.6 million subscribers in 2024 Image Source: Business Alive The challenges facing 9mobile are not isolated—they reflect a broader transformation sweeping Nigeria’s telecom sector. While 9mobile grapples with a steep decline in market share, industry-wide regulatory measures are prompting a significant recalibration in subscriber numbers. In 2024 alone, Nigeria lost 24.6 million internet users as the Nigerian Communications Commission (NCC) enforced stricter SIM verification and redefined what qualifies as an active subscriber. These sweeping changes are not only exposing weaknesses in struggling networks like 9mobile but also streamlining the sector toward a more sustainable, revenue-focused future. At the heart of these reforms was a drive to eliminate inflated subscriber figures. Telecom operators were required to deactivate SIM cards linked to unverified National Identity Numbers (NINs), while the NCC tightened its criteria by counting only those users actively engaging in revenue-generating activities—whether it be purchasing data, airtime, or making calls. Such measures were designed to reveal a truer picture of user engagement in an industry that remains one of Nigeria’s largest contributors to GDP. The impact of these regulatory actions was immediately evident. Between December 2023 and December 2024, the number of internet users dropped sharply from 163.8 million to 139.2 million. Similarly, active phone connections fell by 26.6%, from 224.7 million to 164.9 million. Despite this contraction in subscriber numbers, there was a notable surge in mobile data consumption, which climbed from 713,200 terabytes to 973,445 terabytes. Meanwhile, advancements in network infrastructure are shifting consumer preferences—4G adoption now surpasses 2G, with 4G accounting for 42.7% of usage. In this recalibrated market, the story of 9mobile—a network already beleaguered by declining market share and service quality—takes on even greater significance. With its subscriber base stagnating and its market share shrinking to just 1.9%, 9mobile’s struggles are emblematic of the sector-wide purge of underperforming operators. Conversely, major players like MTN (51.4%), Airtel (34.3%), and Glo (12.2%) continue to build their active user bases, underscoring a competitive shift toward quality service and revenue-generating engagements. As the telecom industry refines its focus on genuine customer engagement, the evolving landscape is expected to drive higher average revenue per user (ARPU) and pave the way for more robust, sustainable growth. The consolidation of subscriber data reflects a broader commitment to quality over quantity—a commitment that could spell long-term benefits for both consumers and operators willing to invest in superior network performance. Economy Kenya’s December inflation gives hope of a rate cut GIF source: Tenor Kenya’s inflation rate remained comfortably below the central bank’s 5% target for the eighth consecutive month in December, setting the stage for another potential interest rate cut next week. In December 2024, inflation ticked up slightly to 3.3% from 3%, driven largely by rising food and transport costs. Food prices, which account for about a third of the inflation basket, surged 6.1% compared to 4.8% previously. However, relief might be on the horizon: the government is gearing up to
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