Keep what you pay for: The South African MVNOs offering non-expiring data
For years, South African mobile users have voiced frustration over paying for data that disappears before they can use it, a policy established by the country’s largest network providers. In 2019, the Competition Commission conducted a market inquiry into the country’s mobile data services and revealed that South Africa’s major mobile operators are among the most profitable globally, yet they cling to data expiry policies. Parliament slammed these practices as “exploitative and unconstitutional,” arguing that consumers should not lose paid-for data based on expiring timelines. The operators, MTN, Cell C, and Vodacom, continue to defend the expiry as a tool for managing network capacity and pricing models. The growing backlash has fueled demand for alternatives that give consumers more control over how and when they use their data. Mobile virtual network operators (MVNOs) have stepped into the gap, powered by the same major networks, and are gaining traction. The MVNO market has experienced explosive growth, with approximately 4.8 million active subscribers at the end of 2024, projected to reach 12 million by 2029 at an 18% annual growth rate. South Africa has a diverse MVNO landscape, where different players target specific market segments with tailored offerings. Some focus on integrating mobile services with financial products, while others build loyalty through retail rewards or lifestyle perks. While these MVNOs provide data that does not expire, there is a trade-off of slow speed. These platforms are deprioritised during peak hours, with speeds slower than traditional networks. But many users still value the cost savings and data longevity enough to remain with their chosen MVNO. Here is a list of MVNOs that offer non-expiring data. Capitec Connect Since its launch in 2022, Capitec Connect has grown with 1.6 million active users. Capitec Connect uses the Cell C network and offers data bundles that start from R4.50 for 100MB. “Capitec Connect has cheaper data and airtime, but the connection frustrations are becoming unbearable,” said Asher Ndlovu, a remote graphic designer. “ I have been with Capitec Connect for almost a year, but in most cases, the network is poor, even to receive calls.” Standard Bank Connect Standard Bank Connect, originally launched in 2018 as Standard Bank Mobile. It was rebranded in 2024 to reflect its expanded offerings and new MVNO partnership with MTN. The service blends banking and mobile connectivity in a way that rewards customer engagement, converting bank fees into airtime and offering discounts on tech accessories through partners like Dress Your Tech. Select data bundles, such as the 500MB and 1GB options, come with the added benefits that do not expire. Users can choose between two main packages: Connected Circles, which combines voice and data, and Connected Gigs, which focuses on data-only plans. “MTN daily data is very affordable, but at times I do not use all of it,” said Keneilwe Mokoena, an informal trader from Johannesburg. “Now with Standard Bank Connect, it lasts until I decide to use it. Even if it buffers, I still can use it later.” FNB Connect FNB Connect is First National Bank’s mobile offering, operating on MTN’s network with nearly 1 million active users. It’s designed to complement FNB’s digital banking ecosystem, giving users the convenience of managing mobile services alongside their finances. While it offers competitive pricMark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Meet and learn from Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Get your tickets now: moonshot.techcabal.com ing and integration with the FNB app, user experiences are mixed. Some customers report strong reception early on, only to face dropped calls and poor connectivity later. “I moved from Cell C to FNB Connect a month ago and had great cellphone reception for the first 2 weeks. Thereafter, the reception became so poor that I couldn’t make calls,” said Charles, a communications consultant who only gave his first name to speak freely. Spar Mobile Spar Mobile, launched in 2025 via a partnership with megsApp, another MVNO. It uses MTN’s network and offers non-expiring data with in-store rewards. Its starter pack includes 300MB of data and R10 airtime, and every qualifying Spar purchase earns more permanent data. megsApp is built around the promise that all data and airtime never expire, with bundles ranging from single-day use to long-term plans. Users can accumulate unused data indefinitely. “Since Spar Mobile uses the MTN network, I thought it would be the same in terms of speed, but it is a bit slow. The only difference is that I save a lot on data bundles. When it is slow, I just wait for a friend or wait, at least I am not losing money,” said Ayanda Zondi, a school transport driver. Pick n Pay Mobile Pick n Pay Mobile was launched in 2020 and uses the MTN network. The platform allows shoppers to buy airtime and data while doing their groceries and rewards them with extra data when they shop at Pick n Pay. In 2025, the company launched a major app update, enhanced eSIM activation, and focused its offering around flexible recharges, prepaid bundles, and exclusive grocery-linked mobile data rewards that further boost the appeal of non-expiring data plans. Trace Mobile Trace Mobile was launched in South Africa in 2015 and gained over 1.4 million subscribers within its first 18 months. Initially introduced as a Cell C-branded reseller model, Trace Mobile evolved into a fully-fledged MVNO targeting South Africa’s youth market (ages 16–35). It is a standout for offering free music streaming, live TV channels, and lifestyle rewards, which helped it scale rapidly in its early phase. “It’s perfect for streaming without stressing about data running out,” says Lisa Mthembu, a high school learner. “I can listen to music anytime, and it does not cost much, but during the peak hours, the network is slow.” Crave Connect Crave Connect, launched in 2025, operates on the MTN network via megsApp. It offers a mix of non-expiring data, digital wallet services, and loyalty rewards, including 1GB
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A solar powered hospital-on-wheels takes urgent care into Zimbabwe’s hinterlands
In Zimbabwe, over 60% of the population live in rural areas where access to healthcare is limited by distance, cost, and infrastructure deficit. People walk 15 to 20 kilometers to reach the nearest clinic, often delaying care until it’s too late. Chiedza Mushawedu, co-founder and executive director of ZimbosAbantu Healthcare on Wheels, witnessed these challenges while working for a private hospital in 2016. “We were seeing preventable deaths from treatable conditions, mothers giving birth at home without skilled assistance, and people living with undiagnosed chronic illnesses simply because care was out of reach,” Chiedza explains. In 2021, Chiedza founded ZimbosAbantu to improve healthcare access in these communities. By repurposing vans into solar-powered, tech-enabled mobile clinics, the startup brings healthcare directly to those who need it most. Chiedza says her team has cut walking distances from an average of 15 kilometers to just three, making early diagnosis and treatment possible right where people live. Chiedza Mushawedu, co-founder and executive director of ZimbosAbantu Healthcare on WheelsImage Source: Bayer Foundation Care on wheels ZimbosAbantu currently operates ten mobile clinics, each strategically deployed to reach communities with the greatest need. According to Chiedza, each clinic is a fully equipped unit built to operate in off-grid areas. The clinics are powered by solar panels with battery backups, fitted with refrigeration for vaccines and medicines, and include a compact diagnostic lab called HealthCube, a portable device that performs over a dozen essential tests including blood glucose, hemoglobin, and malaria. Chiedza explained that getting a clinic operational requires a combination of resources, infrastructure, and people. Each unit costs about US$120,000 to set up, she said. The units provide primary healthcare, maternal and child services, dental and eye care, immunizations, HIV testing, and NCD screenings for hypertension and diabetes. “We prioritised services that address the most common community health needs while remaining cost-effective and portable,” Chiedza said. For more complex cases, patients are referred to partner hospitals under the supervision of the Ministry of Health and Child Care. The patient experience Patients first engage with community health mobilisers who serve as ambassadors, receiving basic health education and on-spot blood pressure checks. Once they arrive at the clinic, they’re registered digitally. “We build a digital health record for every patient, something many are experiencing for the first time,” Chiedza says. The data helps track chronic illnesses like diabetes and hypertension, enabling continuity of care even when the clinic moves to another location. Next, the patient moves to triage, where vitals are checked. From there, they’re directed to the consultation area, where a nurse or doctor conducts an assessment and offers a diagnosis. If medication is required, they receive it immediately from the solar-powered pharmacy fridge or dispensary, and if necessary, a follow-up visit is scheduled during the next mobile clinic visit. The vans are designed with accessibility in mind, featuring ramps for people with disabilities, private consultation spaces and staff trained on gender sensitivity. On an average day, each van serves between 18 and 25 patients, maintaining quality while ensuring reach. “Our goal is to bring healthcare within one kilometer of every household in the communities we serve,” Chiedza notes. Beyond patient numbers, ZimbosAbantu measures its impact through a robust data-driven system that tracks 18 core health metrics daily, weekly, monthly, or annually. These indicators span the full HIV and NCD cascade, from preventive health and screening to chronic care and palliative support. “We don’t just count patients; we track outcomes,” Chiedza explains. “Our data allows us to understand trends in maternal health, vaccination coverage, chronic disease management, and behavior change around sexual and reproductive health.” 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
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👨🏿🚀TechCabal Daily – Nigeria enters its PoS monogamy era
In partnership with Lire en Français اقرأ هذا باللغة العربية Happy mid-week. If you’re a PoS operator in Nigeria and your hustle still has side chicks, the Central Bank just said it’s time for you to pick one. Meanwhile, Kenya wants startups to get a slice of corporate CSR money, and M-KOPA’s finally turning a profit. Plus, our sister newsletter The Next Wave: Francophone Africa just dropped a brilliant deep dive on InstaDeep, Tunisia’s $700 million AI success story. Read it here. In other news, it’s now only one week to Moonshot; get your tickets here. Let’s get into today’s dispatch. CBN limits one MoMo operator to one agent Patience in business: An M-KOPA masterclass Starlink wants to splurge $145 million in South Africa Kenya wants big companies to play VCs World Wide Web 3 Events Regulation CBN’s new rule: One PoS agent, one operator Point of sales mobile agents line a busy market street in Island area of Lagos. Image: Damilola Onafuwa/Bloomberg Nigeria’s agent banking sector is getting a major change, thanks to new rules from the Central Bank (CBN). From April 2026, every point of sale (PoS) agent must choose—and stick with—one operator. In practice, this means agents will no longer be allowed to use multiple machines from providers like OPay, PalmPay, Moniepoint, or bank-issued platforms. Why is the regulator doing this? The CBN says it wants to improve service quality and bring order to a fast-growing sector. Nigeria has over 5 million active PoS terminals that processed $7.15 billion in transactions in Q1 2025. What does this new rule mean? Banks and fintechs will now enter a battle for an agent’s loyalty, following the new exclusivity rule, which could lead to better services and incentives for agents. However, the policy also limits agents’ flexibility and may drive up their operational costs. Ultimately, that pressure will be passed down to customers, resulting in higher transaction charges as agents try to offset reduced earning potential. More rules. The new guidelines also introduce significant changes like the geo-tagging of all PoS machines, which will lock them to a specific location, and a daily withdrawal limit of ₦1.2 million ($816.18) for each agent. Zoom out: This exclusivity is a trade-off between the flexible convenience Nigerians enjoy with PoS agents for the promise of a more structured and regulated banking system. Whether it restores order or simply breaks the multi-operator model remains to be seen. eCommerce Without Borders: Get Paid Faster Worldwide Whether you sell in Lagos or Nairobi, customers want local ways to pay. Let shoppers check out in their local currency, using cards, bank transfers, or mobile money. Set up seamless payments for your global online store with Fincra today. Startups M-KOPA turns the corner, becoming profitable for the first time in more than 10 years Image Source: M-KOPA After years of incurring heavy losses, M-KOPA has finally turned a profit. The Kenyan pay-as-you-go (PAYGO) pioneer posted a profit of KES 1.2 billion ($9.2 million) in 2024, rebounding from a KES 3.2 billion ($25 million) loss the previous year as revenue increased 66% to KES 53.7 billion ($416 million). State of play: The turnaround marks a key milestone for one of Africa’s most closely watched startups, which has long been seen as a test case for the continent’s asset-financing model. Founded in 2011 to sell solar systems on credit to low-income households, M-KOPA has evolved into a digital finance platform offering smartphones, cash loans, and insurance to millions across Kenya, Uganda, Nigeria, and Ghana. Between the lines: The milestone comes at a time when investors are demanding clearer paths to profitability from African startups. The funding boom that once flooded fintechs has cooled, and companies that can demonstrate self-sustaining models are standing out. Since 2022, the company has focused on smartphone financing, partnering with manufacturers such as Samsung and Nokia to offer pay-as-you-go devices. It has also established an assembly plant in Nairobi. Paga is in USA Big news! Paga is now live in the United States, with digital banking services designed for Africa’s diaspora! Eligible users can send, pay, and bank in US Dollars & Naira, safe, regulated, and borderless. Learn more. Internet Starlink promises over $145 million to enter South Africa Image Source: Google After what seemed like a media hiatus, Starlink, the Elon Musk-owned satellite internet company, is back singing a tune we are all familiar with. The company says it is ready (again) to enter South Africa and is willing to play by the country’s rules to do that. But this time, Starlink went a step further. It revealed its $145 million plan: it wants to comply with local empowerment laws (is this what we’re thinking, Elon?), invest in local infrastructure, work with the National Sea Rescue Institute to equip rescue vessels, and provide free internet for 5,000 schools. Between the lines: The satellite internet provider wants to work through local partners rather than go solo, by hiring South African internet service providers (ISPs) for installation, maintenance, and resale of its product in the country. The company is also looking to base parts of its global network infrastructure in the country to achieve its goal of making South Africa a regional hub for its operations. Why this turnaround? For months, Starlink’s entry into South Africa stalled over local ownership rules that required foreign telecoms to sell equity—something Starlink refused to do. Starlink’s stance changed when regulators proposed an entry consideration for foreign firms through equity equivalence. This meant that instead of selling part of its shares, it would invest in projects that advance local empowerment, such as connecting 5,000 schools and investing in local infrastructure. Zoom out: For all of Starlink’s enthusiasm in the market, South African lawmakers are still having second thoughts about the equity equivalence pathway, citing it would undermine the Broad-based Black Economic Empowerment (BBEE) system, which has existed for years, and this has stalled entry plans for Musk’s company. Paystack introduces Pay with Bank Transfer in Ghana WithGhanaian businesses can now
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Your PoS agent has to pick a side, and it could change how you access cash
Ibukun Abolarinwa, the point of service (PoS) agent in front of my house at Ojodu Berger, knows my UBA Verve card by heart. He knows that any transaction I make with my card on his MoniePoint terminal will eventually fail. Without a word, he reaches for another one from his small rainbow of PoS machines—OPay, Nomba, PalmPay, and a Wema Bank terminal—until the transaction finally goes through. It is a quiet, unspoken understanding that has kept our interactions smooth for years. That delicate dance is about to end. A new policy by Nigeria’s Central Bank (CBN) will soon force Ibukun to pick a side. By April 2026, every PoS agent must work exclusively with one financial institution. No more juggling multiple machines to beat network issues or card incompatibilities. For customers like me who rely on this patchwork system to access cash and make transfers, it feels more like a disruption waiting to happen. Everything changes Under the new CBN guidelines, each PoS agent will not only have to choose one operator but also operate under tighter controls. Machines will be geo-tagged and locked to specific locations, preventing agents from moving them around freely. Daily withdrawal limits will be capped at ₦1.2 million ($816). The policy is part of a sweeping effort to sanitise Nigeria’s fast-growing agent banking ecosystem and improve transparency. The regulator says it aims to “strengthen the enabling environment for offering safe financial services to the underbanked and remote areas.” The logic makes sense. Nigeria’s 2 million PoS agents processed about ₦10.51 trillion ($7 billion) in transactions in the first quarter of 2025 alone, according to the Nigeria Inter-Bank Settlement System (NIBSS). In this vast and informal network, issues such as fraud, transaction disputes, and poor traceability have become significant concerns for the regulator. However, the convenience of this informal structure has held together Nigeria’s fragile financial access story. And that’s where the tension now lies. 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 TC Scoop <!– Next Wave –> <!– Entering Tech –> Subscribe How agents really work PoS agents like Ibukun have built their business models around flexibility. He tells me that MoniePoint “removes more charges than PalmPay,” so he switches between the two depending on transaction type and network reliability. On good days, he earns between ₦90,000 and ₦360,000 ($61 to $245) a month—not bad for a business that runs on small commissions and trust. When the transaction limit for one machine is exhausted, he simply picks up another. When one network goes down, he switches to another. That convenience is how agents stay afloat in a system where network downtime is routine and cash demands can spike without warning. The new policy hasn’t gone down well with some PoS agents. Chinyere, who operates on Lagos Island, one of Lagos’s busiest commercial hubs, said she uses multiple platforms to stay active during network failures. She fears being limited to one operator will disrupt her business, a concern shared by many others. Obinna, a PoS agent in the Surulere area of Lagos, is skeptical about the new directive. “I don’t take CBN seriously,” he said. “Nigerian policy lasts only at the time they announce it. I don’t take it seriously.” He added that despite existing withdrawal limits, he can still process cash withdrawals of over ₦100,000 without issues. Abdul of FEDAMS Technology, a PoS shop at Ojodu, a suburb of Lagos, said withdrawals made over the daily limit
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All you need to know about Xiaomi’s Redmi 15
Xiaomi has launched its latest smartphones, the Xiaomi 15T and the REDMI 15 in Nigeria. In terms of use, the Xiaomi 15T would appeal more to the photography pros and power users, the Redmi 15 is built for everyday life. Here’s a breakdown of what the Redmi 15 offers. Price and Availability The Redmi 15 provides great value, and its price reflects that. Here’s what it costs in different regions: Nigeria: ₦186,400.00 (for the 6GB RAM + 128GB storage version) Kenya: KES 30,000 (approximate price) South Africa: ZAR 2,499.90 You can also get it in a larger 8GB+256GB storage version if you need more space for your apps, photos, and videos. It comes in three colours: classic Midnight Black, sleek Titan Gray, and trendy Sandy Purple. Key Features at a Glance 1. A Massive Battery That Lasts for Days This is the phone’s biggest selling point. The 7000mAh battery is one of the largest you can find in a smartphone. This means you can easily go a full day or two of normal use; watching videos, browsing social media, and making calls, without worrying about finding a charger. This is a huge advantage for places that have unpredictable power supply. 2. Big, Immersive Display for Entertainment The Redmi 15 features a large 6.9-inch FHD+ screen. Whether you’re binge-watching your favourite series, attending online classes, or scrolling through social media, the big, vibrant display makes everything more enjoyable. 3. Reliable Performance for Everyday Tasks Powered by the Snapdragon 685 processor, the phone handles everyday tasks smoothly. It’s great for browsing the web, using social media apps, light gaming, and streaming videos. It won’t lag or slow you down during normal use. 4. Charges Fast Despite the Big Battery You might think a 7000mAh battery would take forever to charge, but it supports 33W Fast Charging. This means you can get a significant amount of power back in a short time, so you spend less time with your phone plugged into a power outlet. 5. A Sharp Camera for Your Memories The 50MP AI Dual Camera system ensures you can capture clear and detailed photos. The AI helps optimize your shots, so whether you’re taking pictures of friends, family, or a beautiful sunset, you can expect great results for sharing on social media or keeping as memories. Who Is This Phone For? The Redmi 15 is the ideal phone if you: Hate charging your phone every day. Love watching videos and playing games on a big screen. Want a reliable device for calls, messages, and everyday apps. Need a good camera for clear, everyday photos. Are on a budget but don’t want to compromise on key features. In short, the Redmi 15 proves that you don’t need to spend a fortune to get a powerful and dependable smartphone. It delivers where it counts most: battery life, display size, and overall value.
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Kenya’s landmark crypto bill now awaits Ruto’s assent to become law
Kenya is on the verge of introducing its first cryptocurrency law after its Parliament passed the Virtual Asset Service Providers (VASP) Bill, 2025, at its third reading on Tuesday. The legislation, which now awaits President William Ruto’s assent to become law, could make Kenya one of Africa’s first nations with a clear rulebook for digital assets. First introduced in 2024, the bill establishes the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) as joint regulators of digital assets. The Treasury Cabinet Secretary will have powers to issue detailed rules on stablecoins, tokenisation of real-world assets, trading platforms, capital and solvency standards, and anti-money laundering compliance. The passage follows months of committee-stage debate and public consultation. Attorney General Dorcas Oduor is now preparing the final draft for presidential assent. Lawmakers said the version approved in the third reading includes new compliance and licencing clauses, though the updated text has not been released publicly. The legislation’s passage positions Kenya to introduce one of Africa’s most structured virtual-asset regimes, with clear capital, solvency, and consumer-protection requirements for service providers. It will open a formal licencing pathway for local and foreign crypto startups already active in the market, including Luno, Busha, KotaniPay, Fonbnk, Swypt, and Binance. “With Parliament’s passage of the VASP Bill, Kenya is one signature away from making regulatory history,” said Chebet Kipingor, business operations manager for Busha Kenya, a subsidiary of the Nigerian-based crypto startup. “It’s a signal that Africa’s most innovative economy is ready to balance innovation with consumer protection, and that progress, not fear, will guide our digital future.” Yet the extent of regulatory benchmarks and capital thresholds will determine if these startups can remain competitive in the market. The timing of the bill also carries broader implications. Kenya’s government is under pressure to strengthen financial oversight as part of efforts to exit the Financial Action Task Force (FATF) greylist and meet revenue-raising and fiscal targets tied to its IMF extended fund facility (EFF), which was cancelled in March, according to an industry insider who spoke on the condition of anonymity. The real test will come in the Treasury’s sub-regulations; how it defines capital adequacy, custody, and disclosure for startups, will determine whether Kenya emerges as Africa’s preferred economy for digital asset service providers or risks pushing them offshore. President Ruto is expected to receive the final bill within weeks, setting the stage for Kenya’s first comprehensive crypto law. Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Meet and learn from Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Get your tickets now: moonshot.techcabal.com
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Why freelancers, influencers can’t escape Nigeria’s new tax rules
From January 2026, Nigeria’s new tax laws will require remote workers and freelancers to pay personal income tax, just like traditional employees. The tax rate will be capped at 25%. During a media briefing on Friday, Taiwo Oyedele, chairman of the Presidential Fiscal Policy and Tax Reforms Committee, explained how the government plans to monitor and collect taxes from freelancers and digital creators. “You are supposed to report yourself, calculate your tax, and pay if your income is above the threshold,” Oyedele said. Nigeria signed new tax reforms into law in June 2025 as part of its renewed effort to raise more revenue. The country aims to lift its tax-to-GDP ratio to 18% by 2027, from less than 10% today. Freelancers and influencers are a big part of that plan. Under the new law, self-employed individuals must self-declare their annual income. Failure to do so attracts penalties ranging from ₦50,000 ($34.11) for minor offences to ₦1 million ($682.28) or three years in prison for more serious violations. The tax authority is not stopping at these measures. According to Oyedele, when freelancers or influencers fail to self-report, the tax authority will rely on a system validation process to uncover unreported income. “If freelancers do not self-report, there is a system validation that has been created that pieces information together, including information that is available internationally,” he said. “In fact, two weeks ago, Nigeria got approval for an international tax code that aligns us with the rest of the world.” Nigeria also now has information exchange agreements with over 100 countries, allowing it to track offshore income. The government also plans to collaborate with global platforms like Google and Meta to identify payments made to Nigerians. “We already have information about what many Nigerians are doing abroad,” Oyedele said. “If you earn money online, the number of platforms paying you isn’t many—Google, Facebook, and a few more. We can go to them for income reports, just like they already collect VAT for us in Nigeria.” TechCabal reported in mid-September that Nigeria plans to grow tax and customs revenues to at least ₦17.85 trillion ($12.18 billion) in 2026, with technology playing a key role. Since 2021, the government has relied on platforms like TaxPro Max, to enable taxpayers to register, file, pay, and download tax clearance certificates online. “Leveraging technology, such as the automated tax administration system (TaxPro Max and E-services) to further simplify tax processes, drive voluntary tax compliance, increase revenue collection, and create a tax environment that is conducive for taxpayers to fulfil their tax obligations,” the government explained in a policy paper. To further enforce compliance, the FIRS plans to link its database with other agencies, including the Nigeria Inter-Bank Settlement System (NIBSS), Nigeria Customs Service (NCS), Nigerian Communications Commission (NCC), and Corporate Affairs Commission (CAC), allowing for real-time, third-party intelligence gathering. Note: exchange rate used: ₦1,465.68/$ Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Meet and learn from Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Get your tickets now: moonshot.techcabal.com
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EchoVC ran a $2.5 million climate-tech experiment. Here’s how it went.
One of the most persistent (and often valid) criticisms of Africa’s venture capital ecosystem is that investors rarely publish case studies, reports, or essays outlining their thesis or track record. The result is an ecosystem where data beyond funding amounts is scarce, making it nearly impossible to track investor performance, portfolio impact, or sector-level learnings over time. But, EchoVC, a venture capital firm which counts Shuttlers and Cellulant among its portfolio companies, went against the norm. In September, it released a report that details the performance of its $2.5 million climate tech fund, which includes the fact that most climate tech startups do not need to raise equity capital, as a combination of equity, grants, and assets represent their best chance of achieving scale. Launched in 2023, the EchoVC Eco Pilot Fund was raised in partnership with Shell Foundation and UKAid as an experimental fund designed to back African founders building climate and climate-adjacent solutions, especially those serving smallholder farmers, transporters, and microentrepreneurs (MEs). The fund had two main objectives: write the first institutional cheques into founder-led African climate startups and test flexible financing and support structures for under-represented founders and underfunded sectors. The fund was intentionally designed as an experiment, each investment becoming “a small, high-learning, thoughtful experiment” with limited downside and significant upside. Two years later, it has backed 15 startups across sectors like energy storage, clean cooking, renewables, smart mini-grids, waste management, cooling, mobility, and the circular economy. For this week’s Ask an Investor, I spoke with Eghosa Omoigui, the managing partner of EchoVC, to understand why his firm prefers microfunds, his thoughts on how much funds should be raised, why equity does not work for climate tech startups, the missing middle in early-stage startup financing, and why development finance should be rethought for Africa. This interview has been edited for length and clarity. Why does EchoVC mostly use microfunds? It’s something I have been curious about since I noticed that’s your fund’s strategy. We just think that they’re just better for the ecosystem. They meet the market where it is. When you raise a large fund, you want to write a $10 million cheque, but the challenge is that once you raise a fund that size, you start making very different deployment decisions. Eventually—where the market really needs a lot of help, which is under a million dollars—it just doesn’t make sense for you to write that size of cheque. We realised that the small-footprint vehicles are just better suited for the market. When there’s a small footprint, there are a few other things that come alongside that. One is that you are writing smaller cheques. Two is that you’re actually giving people permission to fail. With the bigger cheques, then you get all kinds of incentives coming into the equation—behaviours trying to preserve the look—whereas with smaller cheques, you fail, you fail. The final thing: in terms of how you drive liquidity—small cheques, low valuations—which means you can get lower-priced outcomes that are still really good. If you are writing a $5 million cheque out of a $100 million fund at, let’s say, a $25 million post-money valuation, you own 20% of the business. If the company exits at $100 million, your return is 4X—$20 million—which is really good. The problem is you have to return the fund, and when you look at traditional portfolio construction, only a handful of the companies in the portfolio will be able to do that. You’re still struggling to figure out how you’re going to return the fund. If you get some of these international investors to come in who are playing a different game, then expectations go from $100 million to a billion. That means you’re going to really need to work very hard because you’re going to get diluted. Over the years, we’ve realised that the smaller funds are just better suited for this market. 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From Bamboo to Trove: Where Nigerians are investing their money in 2025
Table of contents Bamboo Risevest Trove Piggyvest Optimus by Afrinvest MERITRADE by Meristem How can you invest in the Nigerian stock market? What investment can you start with ₦10,000? How can you make ₦1,000 a month investing? How can you invest with ₦100? Nigeria is an economy primarily driven by cash, with a limited range of credit facilities. And with this comes questions on how to generate, build, and sustain wealth, investments being one of them. However, there is no single path to investing, and the options are vast. Such as mutual funds, fixed income securities, Exchange Traded Funds (ETFs), and so on. “Beginners usually start with the goal to become financially free and independent, but they don’t break it down to what it means for them,” said Tijesunimi Oresanya, Manager, Solution Architecture (CEMEA) at Visa. “They should define their goals from the start. For example, I want to invest long-term or short-term. This will determine your risk tolerance and the type of investments appropriate for you.” For those considering different investment instruments and investment platforms, Oresanya highlights the need to pay attention to the details, especially the brokerage fees: “Sometimes investments come with some fees. The platform brokering for you may require a percentage for their service; beginners usually don’t factor this in when analysing an opportunity. A 1% fee over a long time can be very significant.” What are some Nigerian investment platforms? From conversations with financial advisors to recommendations from long-standing users, I pooled a list of apps you can explore if you are considering investing in the Nigerian stock market. So, whether you opt for a digital wealth manager or brokerage apps through which you can begin trading directly, here are a few you can consider in no particular order. 1. Bamboo Bamboo offers opportunities to invest and training resources for beginners and seasoned investors seeking to learn about the investment landscape. With 3.5k+ stocks to choose from and over 500,000 users, the app leverages AI-driven market insights to alert users on investment opportunities. The investment app also allows you to begin trading with zero paperwork, requiring only your contact details and National Identification Number (NIN). With Bamboo, you can trade stocks and ETFs, invest directly in Nigerian and US stocks, and manage your investments, all within the app. Its fixed income allows for up to 8% annual returns in USD and up to 21.4% annual returns on Naira savings. The investment app offers the option to invest with low minimums, starting as low as $1. Bamboo’s mobile app is available to download on the App Store and the Play Store. TL;DR: Invest in U.S and Nigerian stocks No Paperwork, just your NIN and contact details Invest with as low as $1 2. Risevest Risevest allows you to make dollar-dominated investments in Global and U.S markets, including U.S real estate. These investments can yield returns ranging from 8% to 15%. However, Rise is not a brokerage app, but functions as a digital wealth or asset manager. It does not offer direct trading. But rather curates and presents portfolios in US stocks, US real estate, and global fixed income assets, to balance risk and reward, while you choose how much you want to invest. Along with curating the stocks with long-term payoffs, Rise has investment experts and professionals to manage these investments on behalf of users. Compared to other platforms, Risevest. Risevest and its subsidiary, Chaka, accumulate a customer base of 620,000 users. The app is accessible on your smartphone on the Play Store or App Store. TL;DR: Invest in dollar-denominated assets Users cannot trade directly, but have their assets managed by Risevest experts Invest in US stocks, real estate, or global fixed income portfolios 3. Trove Along with providing a platform to invest in over 4,000 US and Nigerian assets, Trove also offers learning resources through its product, Trove University, where you can learn about investing and earn points. You can then use your points to redeem rewards such as airtime or data, and trading fee credits. Through microinvesting, Trove also allows you to gift shares to others, such as family and loved ones. Through leveraging the community, the app allows for social investing, where you can connect with friends within the app and explore other investors’ holdings. Trove shows breakdowns of others’ investment portfolios, including their bonds, stocks, and track records. The app has no minimum investment amount, and yields up to 20% annual returns on Nigerian savings and 5.5% on U.S. dollar savings. The app aggregates a customer base of over 400,000 registered users. Trove is available as a mobile app on the App Store and the Play Store. TL;DR: Social investing tools to connect with friends and seasoned investors Offers investment education for users to earn points and redeem rewards Allows low minimums to invest with as little as $1 4. Piggyvest Originally a savings app, Piggyvest presents an array of investment options within a 6-12 month timeframe, and up to 35% returns. With their product, Investify, you can purchase ‘Corporate Debt Notes’, backed by companies with as little as ₦5,000. Or you can purchase ‘Sovereign Debt Notes’, backed by the government, with about ₦12,000 to ₦ 19,000, and are short to medium term. Piggyvest also offers pre-vetted opportunities to invest in real estate, agriculture, and even transportation. However, some of these opportunities are available periodically and sell out quickly, so you will have to be on the lookout. Nearly 6 million people have used the app’s savings and investing platform. You can invest through the web app or the mobile app available on the App Store or the Play Store. TL;DR: Can invest with as little as ₦5,000 Investments are within a 6-12 month timeframe Pre-vetted opportunities in real estate, agriculture, and transportation 5. Optimus by Afrinvest Through Afrinvest Asset Management Limited, a portfolio manager licensed by the SEC, you can invest in US and Nigerian stocks, mutual funds, fixed deposits, and other high-yield options. With Optimus by Afrinvest, you can
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The “anti-HR” HR firm where employees come first: Day 1-1000 of CareerBuddy
When people think of HR, they think of a department that is there to further the company’s interests. “HR is not your friend,” employees claim. But for Abraham Iyiola, this was the very problem he needed to solve. After leading recruitment at Jumia and seeing the disconnect between companies and their employees firsthand, he became obsessed with a simple, radical idea: what if a recruitment firm acted, not as a corporate gatekeeper, but as a genuine friend to the job seeker? He started by doing favours for friends, helping them fill roles in their companies. From those accidental beginnings, he built CareerBuddy – a company that would rather walk away from a paying client than place a candidate in a toxic work situation, and one that has chosen to bootstrap its way in the market to prove that in the business of people, values can be a sustainable competitive advantage. Day 1: The accidental company Abraham Iyiola was burnt out and didn’t want to be a recruiter anymore. After two years as Head of Recruiting at Jumia, where he hired over 1,200 people, he was done. He had seen the disconnect firsthand: the way the company casually spoke about firing staff, the employees just going through the motions. He wanted a break, so he left. The idea for CareerBuddy seeded around the time; a company that would be a “friend” to job seekers, balancing the scales in a system that often favoured the employer, but he was “dilly-dallying.” He thought, “I need more research, I need to understand the market,” and even took another job. Then, the first client came. Not through a pitch, but a favour. A friend from his Jumia days, Anu, founder of Sabi Africa, was building Rensource Energy at the time and needed to hire. “Look, you’re the best recruiter I know. I need people that I can trust,” she told him. His response was, “I’m not really interested in that.” She insisted, offering to provide whatever resources he needed to make the hire. So, he went in search of the hire the company needed. “It started like her and a few other people just saying, ‘Can you help me find someone? Can you help me find someone?’” Iyiola recalls. There was no business plan, no grand launch. Just a founder, his network, and a growing pile of requests from friends who refused to let his talent go to waste. {newsletter} Days 10-500: Referrals and a reality check In the beginning, the “company” was just Iyiola, operating on the side. He’d connect people he knew from his Jumia network with the founders who were now asking for his help. The first placement was a senior customer operations executive for Rensource Energy. “I’m not even sure that counts as day one,” he says, “because it was like I’m doing it for a friend.” But a pattern emerged. “People started coming based on referrals and word of mouth.” The demand became undeniable. He was getting “swamped.” The turning point from side hustle to real company was the day he hired his first employee, someone who knew nothing about recruiting, trained from scratch, just to manage the inflow. This organic, referral-only growth was validating. “We never had a period where we felt like, okay it wasn’t going to work, because the moment I was clear that we want[ed] to do this… it became a life mission,” Iyiola says. Feedback from placed candidates cemented the feeling that CareerBuddy was a company the world needed. But the grind of bootstrapping brought a stark moment of truth. There was a period when “clients didn’t pay us on time,” Iyiola says. The financial pressure mounted, threatening the company’s survival. In a move that defies the typical startup narrative, it was a client, not an investor, who intervened. “One of our clients literally said, ‘You know what? How much do you need to survive for the next six months? I’m going to give you that,’” Iyiola recounts. The client proposed deducting the advance from future recruitment fees. For Iyiola, this was the ultimate proof of concept. “That’s when I knew personally, okay, this is a thing that needs to be done, and I need to continue to make sure it gets done no matter what.” Days 500-1000: Crystallising the ‘Anti-HR’ ethos With survival assured, CareerBuddy’s culture hardened into its core differentiator. Iyiola made an intentional, defining choice: they would not raise venture capital. “I personally wanted to have control over the people that we hire, how we build the company culture,” he states. They wanted to prove the business could thrive on the value it delivered alone. This independence allowed them to fully embrace their identity as the “anti-HR” HR firm. Their North Star became the candidate experience, even when it hurt the bottom line. “If we are dealing with a client and a candidate and we know the client is treating the candidate badly, we take the side of the candidate even though we’re going to lose money,” Iyiola says. They built systems for “over-communication,” ensuring no candidate was left in the dark, and began vetting clients, walking away from companies with toxic cultures. This philosophy was tested when a founder wanted to fire a new hire whom Iyiola had placed. Instead of accepting the loss, CareerBuddy intervened. “We sat with the candidate to work out a plan… and we then told the founder, ‘Look, this person is good, they’re having some challenge adjusting to the pace.’” They created a performance plan, the employee succeeded, and stayed with the company long-term. For Iyiola, this was the human-centric approach in action, the core of their work that no algorithm could ever replace. CareerBuddy went from a one-person initiative to a full fledged recruitment startup that puts employee interest first. Image Source: CareerBuddy Day 1000+ Looking back, Iyiola sees a personal transformation. A self-professed short-term thinker who “get(s) bored easily,” he has found a life’s work in CareerBuddy’s “persistent problems.” His vision is no
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