iPhone 16e price in Nigeria, Kenya, and South Africa: Is it worth it?
Apple has completed the iPhone 16 lineup with the introduction of the iPhone 16e. Featuring the latest A18 chip, a 48MP Fusion camera, Apple Intelligence, and extended battery life, this new model is being positioned as Apple’s most affordable iPhone 16 series device. However, for African consumers, the big question remains: Is the iPhone 16e truly affordable when factoring in exchange rates, taxes, and reseller markups? In this article, we break down the features, pricing, and expert insights to help you decide if the iPhone 16e is worth buying in Nigeria, Kenya, and South Africa. iPhone 16e: Features & Upgrades The iPhone 16e features some of the latest Apple innovations while making a few trade-offs to keep its price lower than the iPhone 16 and 16 Pro. Key Features: Key features of iPhone 16e/Image Source: How-to Geek A18 Chip: Faster and more efficient, making AI-driven tasks seamless. Apple Intelligence: Features like Clean Up (removing distractions from photos), Image Playground (personalised image creation), and Siri integration with ChatGPT. 48MP Fusion Camera: A dual-purpose camera with high-resolution image processing. Battery Life: Up to 26 hours of video playback. USB-C Port: Universal charging for convenience. Action Button: Quick access to favorite apps and functions. iOS 18: Customisable home and lock screens. Durability: Ceramic Shield protection, Face ID security, and water and dust resistance. What’s Missing Compared to Flagship iPhones? No ProMotion (high refresh rate display) Lacks some advanced camera features like LiDAR scanning No telephoto or ultra-wide cameras Lower-tier materials compared to the iPhone 16 Pro iPhone 16e pricing in the U.S. vs. African countries The iPhone 16e will be available in the U.S. starting February 28, 2025, with a starting price of $599 for the 128GB model. Pricing in African markets will be significantly higher due to import duties, VAT, and reseller markups. Below is an estimate of what consumers in key African countries can expect to pay: Country-specific iPhone 16e pricing & availability Nigeria Official price: Expected between ₦900,000 – ₦1,100,000 Import taxes, exchange rate fluctuations, and reseller markups will increase costs. Available via authorised Apple resellers, online stores, and independent vendors. Kenya Expected price: KES95,000 – KES110,000 Additional costs due to VAT and shipping fees. Likely to be available in Apple stores and major retailers. South Africa Estimated price: R12,000 – R14,500 Import taxes and reseller pricing strategies affect affordability. Available through iStore and major telecom providers. Market perspective & buying decision Fisayo Fosudo’s Insights We spoke to tech YouTuber Fisayo Fosudo about the iPhone 16e and how it fits into the African market. Here’s what he said: On Apple Intelligence & AI Adoption in Africa: “Apple Intelligence is in an interesting state right now. There’s still a lot to figure out, especially with context. For example, I received a YouTube notification with the name ‘Bimbo,’ and Apple Intelligence read it as ‘Bingo.’ The AI isn’t optimised for local African nuances yet.” On Affordability & Pricing in Africa: “The iPhone 16e starts at $600, which is around ₦900,000 in Nigeria. But vendors will add their markup, often $200 or more, because they need to make a profit. That means prices will likely be closer to ₦1.1 million. While it’s the cheapest new iPhone, affordability remains relative.” On iPhone 16e vs. iPhone 14/15: “The iPhone 16e has an A18 chip, which is two generations ahead of the A16 chip in the iPhone 15. This alone makes it a better buy than an older model. Plus, the AI-powered features add value.” On Whether iPhone 16e Will Convert New Buyers: “Apple’s SE lineup has always been interesting. People hype them, but many still prefer to buy used flagship iPhones instead. New buyers might still opt for older used models over the iPhone 16e.” Recap: Is the iPhone 16e worth buying in Africa? The iPhone 16e is Apple’s most affordable entry in the iPhone 16 lineup, offering solid features like the A18 chip, 48MP camera, and Apple Intelligence. However, when factoring in import duties and reseller markups, its price in African markets may still feel steep for many buyers. Final Verdict If you want a brand-new iPhone at the lowest possible price, the iPhone 16e is a solid choice. If you’re looking for the best value for money, a used iPhone 14 Pro or 15 Pro might offer better performance at a similar cost. If you’re considering an Android alternative, flagship Tecno and Samsung A-series models could provide more competitive pricing with similar features. Fisayo Fosudo sums it up best: “The most affordable, best phone for this price from Apple.” Would you buy the iPhone 16e at its expected African price? Let us know in the comments!
Read MoreSterling Bank raises entry-level pay to ₦528,000 in company-wide salary review
Sterling Bank has increased salaries for its 3,000+ employees, with entry-level staff now earning ₦528,000 net monthly, up from around ₦320,000. The review—over 35% across several roles—follows a tepid 7% salary bump in January that left employees unimpressed. The move comes amid industry-wide pay hikes at banks like GTBank, Union Bank, and Wema, driven by a growing battle for talent. Three banking executives who declined to be named said top fintech companies are aggressively poaching senior banking staff, citing salary offers that were effectively double their bank salaries. At the same time, more young professionals are leaving Nigeria for opportunities abroad, further straining the talent pool. Sterling Bank did not immediately respond to a request for comments. Can contactless payments finally take off in Nigeria? PalmPay and CashAfrica are working on it While Sterling is best known for its banking operations, the group is expanding aggressively into fintech, asset financing, and even electric vehicles, and leadership sees retaining top talent as critical to executing its vision. Sterling’s banking business, the largest subsidiary in its group, reported ₦221 billion in gross earnings in 2023 and projects ₦337 billion for 2024. However, it lags behind competitors like Wema Bank, which, despite having similar asset and deposit sizes, generates nearly twice as much revenue. Sterling’s leadership appears committed to holding onto talent that can help drive its expansion across multiple industries. Following the latest adjustments: Executive trainees (entry-level) will now earn ₦528,000 net monthly Assistant Banking Officers (ABO) will take home around ₦850,000 Banking Officers (BO) will see their salaries rise from ₦700,000 to ₦1,030,000 Senior Banking Officers (SBO) will now earn ₦1.1 million Assistant Managers (AM) will take home ₦1.3 million monthly With banks fiercely competing for skilled professionals, Sterling’s latest salary review is both a response to the market and a signal of its long-term ambitions. Whether it will be enough to retain its best employees in a rapidly evolving financial landscape remains to be seen.
Read MoreCan contactless payments finally take off in Nigeria? PalmPay and CashAfrica are working on it
Nigeria’s digital payments sector has grown rapidly for years, yet contactless payment—common in markets like Europe and China—remain a rarity. PalmPay, one of Nigeria’s largest fintechs, is making a move that could change that. In partnership with contactless payment infrastructure provider CashAfrica, PalmPay is rolling out tap-to-pay functionality on its POS terminals, starting with 1,000 devices in a pilot phase before a nationwide expansion in March. It could be a turning point for digital payments in Nigeria, where transactions are still dominated by cash, bank transfers and cards transactions that need PIN verifications. Palmpay will rely on CashAfrica’s contactless technology, which enables PalmPay’s POS terminals to process NFC-based transactions from debit and credit cards, mobile wallets, and wearables. CashAfrica will charge PalmPay on a per-API-call basis, meaning the fintech will incur costs each time a contactless transaction is processed. If the pilot phase is successful, Palmpay will expand the service to its 300,000 POS terminals across Nigeria. The company sees this upgrade as a step toward preparing for a future where tap-to-pay transactions become mainstream. Why Contactless? Why Now? Nigeria’s payments landscape has evolved dramatically in the last five years, thanks to fintechs like OPay, Moniepoint, Paga, and FirstMonie. These firms spent millions on customer education and infrastructure to push digital payments—first through agent banking, then through apps and cards. But growth in agent banking has plateaued, and traditional card payments remain expensive due to fees charged by international card schemes. Meanwhile, “pay with bank” options, while growing, still involve significant friction. Industry players seem to agree that contactless payments—faster, more seamless, and potentially more cost-effective—could be the next big thing. “The role of contactless payments cannot be emphasized, especially at this period where the country is faced with financial fraud risks just like other countries of the world.” Ajibade Laolu-Adewale, Chairman of the committee of E-Business Industry Heads (CeBIH), said while endorsing contactless payment in a stakeholder meeting last year. “Beyond the safety issues, this innovation will also enable merchants to provide faster, smoother and easier transactions,” he stated. The Adoption Challenge Despite the promise of tap-to-pay, Nigeria has been slow to embrace it. The primary alternative—NIBSS’ NQR (Nigeria Quick Response)—has seen limited adoption, with only First Bank and Providus Bank currently supporting it. That leaves a gap that PalmPay and CashAfrica hope to fill. CashAfrica is also in talks with Sterling Bank, UBA, and Zenith Bank to integrate contactless payment into their mobile apps and POS systems. But getting merchants on board remains a challenge. PalmPay did not share details on its merchant education strategy, but training and incentives will likely be crucial to driving adoption. If contactless payments take off, security concerns will be front and center. To prevent unauthorized transactions, CashAfrica’s system requires explicit authorization for every tap, ensuring that accidental or fraudulent taps do not go through automatically. At the API level, PalmPay and CashAfrica will implement tokenization, encryption, and session expiration mechanisms to secure transactions. For years, fintechs fought to pull Nigerians away from cash, pushing bank transfers, mobile apps, and even QR codes. But as they inch closer to victory, the next battle is already here: how to make digital payments faster, smoother, and nearly invisible. If PalmPay and CashAfrica succeed, the biggest challenge for Nigerian payments won’t be adoption—it’ll be remembering the last time you actually typed in a PIN.
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TechCabal Daily – Cat and dog fight
In partnership with Lire en Français اقرأ هذا باللغة العربية Good morning! If you’re reading this from Cape Verde, there’s a Nigerian edtech in your neighbourhood. AltSchool has partnered with Ola.cv to provide in-demand tech skills training to Cape Verdeans. Applications are open here. In other news, Google has denied South Africa’s claim that its news platforms harm local media, saying it drives more traffic to publishers than it earns. Typical Big Tech playbook? In Nigeria, a court has frozen the bank accounts of customers following a technical glitch at Keystone Bank, a mid-sized commercial lender. The glitch artificially inflated account balances, leading customers to overdraw their accounts. The disputed amount in question is ₦5.7 billion ($3.8 million). Let’s get into it. 54 Collective to cut jobs as Mastercard Foundation partnership ends Sendstack cofounder steps down as startup undergoes second pivot Nairobi vs Kenya Power’s $23.1 million debt row escalates Unity Bank’s $41.7 million loss underscores years-long financial struggle World Wide Web 3 Opportunities Venture Capital 54 Collective to cut jobs as Mastercard Foundation partnership ends Image Source: Google 54 Collective, an Africa-focused venture capital (VC) firm is shutting down its venture studio as its partnership with the Mastercard Foundation ends on April 30, 2025. The news, shared with employees on Friday, means job cuts are coming, and early-stage founders will lose a key launchpad for support. The venture studio has been instrumental in helping startups refine their ideas, secure initial funding, and gain operational guidance. Without it, many entrepreneurs will have to look elsewhere for backing, which could make an already tough funding environment even more competitive. Startups that have gone through the studio now face uncertainty. While 54 Collective’s $40 million venture fund, UAF1, is still active, it’s unclear whether it will step in to fill the gap left by the studio’s closure. Many founders relied on the structured support of the studio, and without it, some may struggle to find the same level of mentorship and resources. The Mastercard Foundation has been a major backer of 54 Collective. In 2023, the foundation, alongside Johnson & Johnson Impact Ventures, an impact fund within the Johnson & Johnson Foundation, invested $114 million to help the venture studio “address gender imbalances” and close the funding gap to early-stage startups. The studio wrote checks of up to $250,000 and provided additional $150,000 in equity-free capital to startups that met the requirements. However, with Mastercard stopping funding, it may reflect a priority change for the foundation which has historically backed impact-driven projects. For example, in 2021, it backed Astia Fund—an early-stage venture fund investing in women-led startups. 54 Collective had an ambitious goal to invest in 105 startups over the next five years. But neither Mastercard Foundation nor 54Collective has provided specific details on why the partnership isn’t being renewed. This is a setback for founders looking for hands-on support in the early stages of building their companies. With fewer venture studios operating on the continent, the pressure is on investors and accelerators to step up and fill the gap. For now, startups in 54 Collective’s programs are waiting to see how this transition affects them, and whether any safety nets will be put in place. Are you an Afincran? If you’re building solutions for Africa, you already are. Join Fincra’s mission to empower Africa through collaborative innovation. Together, we’re building the rails for an integrated Africa. Join the Afincran movement—let’s drive change! Startups Sendstack cofounder Ifeoma Nwobu steps down as startup undergoes second pivot Image Source: Ifeoma Nwobu In yesterday’s newsletter, we told you that logistics startup Sendstack is pivoting to a hardware play with new GPS trackers, projecting $1 million in revenue. However, further changes are underway: co-founder and COO, Ifeoma Nwobu, has resigned. This leaves CEO Emeka Mba-Kalu to lead the company toward its goals single-handedly. Cofounder breakups are not uncommon, affecting approximately 35% of companies. They occur for various reasons, including but not limited to: misalignment of vision and unequal distribution of responsibilities and equity. These separations shouldn’t be viewed as failures; startups operate in high-pressure environments with rapid changes, and, like many marriages under stress, it’s understandable if someone needs to step away. Nwobu’s departure is notable, as she has been the public face of the three-year-old startup for some time. You may recall her viral pitch at the Norrsken Accelerator, where she appeared confident and clear-sighted about the company’s ambitious mission to build the logistics infrastructure of the future. Since then, the company’s strategic direction has shifted twice. Initially, Sendstack aimed to provide last-mile delivery through an aggregator platform. At the time, Nwobu, originally a growth lead, became a co-founder in August 2021. The company subsequently discontinued its last-mile delivery platform, pivoting to fleet management software, and now, from a purely software focus, has transitioned to include hardware tracker. Despite these changes, Sendstack CEO seems more focused and ambitious than ever—the company projects a $1 million revenue this year, four times what it made in the past three years. You can now integrate Paystack with GiveWP GiveWP makes it easy to create donation pages and accept online donations on your WordPress site. With Paystack, you can securely receive payments for your donations effortlessly. Find out more here→ Telecoms Nairobi county cuts internet cables to businesses, schools as row with Kenya Power deepens Image Source: Tenor A cat-and-dog fight between Nairobi County and Kenya Power, the state-owned energy company, has escalated into a full-blown crisis, with the county cutting off fiber optic cables on Kenya Power’s utility poles. This drastic move has disrupted internet services for thousands of Nairobi residents, businesses, schools, and malls, plunging parts of Kilimani and surrounding areas into a digital blackout. The root of the conflict lies in a bitter financial dispute. Nairobi County owes Kenya Power a staggering $23.1 million (KES 3 billion) in unpaid electricity bills, a debt that was reportedly reconciled in 2024. However, the county government claims Kenya Power owes it even more in unpaid land rates, wayleave
Read MoreNairobi County cuts internet cables in $23.1 million row with Kenya Power
Nairobi County officials have cut fibre optic cables from Kenya Power’s utility poles, disrupting internet services for businesses, schools, and homes as tensions escalate over an unpaid electricity bill of $23.1 million (KES 3 billion). The county government acknowledges the bill but insists Kenya Power owes it even more in unpaid land rates, wayleave fees, and parking charges. This counterclaim has stalled payments and fueled an increasingly hostile standoff. The dispute took a dramatic turn this week. On Monday, county officials dumped garbage outside Kenya Power’s offices in Ngara. By Tuesday, they poured raw sewage at the company’s headquarters, preventing staff from entering. Later that afternoon, county workers vandalized fibre optic cables on Kenya Power’s poles, cutting off internet access in parts of Kilimani and surrounding areas, according to a TechCabal spot check. The move drew sharp criticism from the Communications Authority (CA), which warned that ICT infrastructure is under national government jurisdiction. “Fibre optic networks are a cornerstone of Kenya’s digital economy. Any interference must follow legal and regulatory frameworks,” the CA said in a statement to TechCabal. Kenya Power: The bill is verified and overdue Kenya Power maintains that Nairobi County’s electricity bill was reconciled in 2024 and is long overdue. It says the county government had previously agreed to clear part of the bill in November 2024 but later failed to pay. “We have had a long-standing issue with Nairobi County with regards to payment of their bills. We offer a service, electricity, and once we offer the service, we bill and the client should pay,” said Rosemary Oduor, Kenya Power’s general manager of sales. The county government, however, argues that Kenya Power owes billions in fees for land use, wayleave (right-of-way) charges, and vehicle parking. Officials claim these unpaid fees exceed the power bill, making the dispute a matter of unresolved balances rather than simple non-payment. A Parliamentary report showed that as of November 2024, Nairobi accounted for over two-thirds of the $33.7 million (KES 4.37 billion) owed to Kenya Power by county governments. That’s nearly three times its debt from February 2024 ($10.4 million/KES 1.35 billion), highlighting why the standoff has escalated. With businesses and residents now caught in the crossfire, pressure is mounting for a resolution. Kenya Power hasn’t indicated whether it will take legal action, but the Communications Authority’s intervention suggests possible regulatory consequences for Nairobi County. For now, the capital remains a battleground—where a financial dispute has spiralled into disruptions affecting thousands.
Read MoreSendstack cofounder Ifeoma Nwobu steps down as startup undergoes second pivot
Ifeoma Nwobu, co-founder and chief operating officer of Sendstack, has left the company, marking another shake-up at the Norrsken-backed logistics startup, which has pivoted twice in the past five months. The company confirmed her departure but declined to share additional information. She leaves as the company set its most ambitious target yet—to reach $1 million in revenue by 2025—four times what it earned in three years. With her exit, Emeka Mba-Kalu, Sendstack CEO will be the sole leader of the about 5-person team, as the team navigates a series of shifts in recent months. In October, the company shut down DLVR, its last-mile delivery aggregator, after three years, citing scalability challenges. It pivoted to fleet management for corporate clients per our reporting, Sendstack has shifted again—moving from a software-only model to integrating AirTag-like trackers. Before Sendstack, Nwobu worked with Mba-Kalu at his now-defunct e-commerce startup Scrader which she cited as an inspiration for Sendstack’s founding. She initially served as head of growth at Sendstack before becoming a co-founder and COO in August 2021. In addition to leading operations and sales, Nwobu played a central role in the company’s public image, frequently representing Sendstack at pitch and demo events. Her 2023 pitch at a demo day by Norrsken, a popular accelerator and one of SendStack’s backers, went viral, earning praise for her clarity and conviction. However, Sendstack has raised only $350,000 from Norrsken, ODX, and a few angel investors. Before working in tech, Nwobu was a supermodel for five years. She also previously founded Frugirls, a thrift fashion business. The reasons behind Nwobu’s exit remain unclear. She and Sendstack CEO, Mba-Kalu, declined to comment on the circumstances surrounding the split.
Read MoreBreaking: 54 Collective to cut jobs as Mastercard Foundation partnership ends
54 Collective, the venture firm formerly known as Founders Factory Africa, will shut down its venture studio operations in Africa after its partnership with the Mastercard Foundation ends on April 30, 2025. The move is expected to trigger layoffs, according to an internal communication seen by TechCabal. The Mastercard Foundation’s funding has played a central role in 54 Collective’s operations, backing its venture studio, Gen F accelerator, and Entrepreneur Academy. But as both organizations pursue different strategies, 54 Collective—officially registered as Africa Founders Ventures (AFV)—said it has been unable to secure alternative funding to keep the studio running. Employees were informed on Friday that the firm would begin winding down the venture studio, pending further discussions with the Mastercard Foundation. A redundancy consultation process is expected to follow, potentially impacting multiple roles. The closure does not affect 54 Collective’s $40 million venture capital fund, UAF1, which will continue investing in startups across Africa. The firm also retains a separate multi-million pool raised in 2023 to provide operational support to portfolio companies and address gender disparities in the VC ecosystem. The decision marks a setback for 54 Collective, which rebranded in August 2024 and had ambitious plans to back 105 startups over the next five years. While its fund remains active, the loss of its venture studio raises questions about how the firm will now engage with early-stage founders on the continent. 54 Collective has yet to comment on how the transition will impact startups currently supported by its programs. Founders Factory Africa rebrands to 54 Collective, a sector-agnostic VC firm
Read MoreCourt freezes bank accounts over ₦5.7 billion Keystone Bank transfer glitch
A Nigerian court has frozen multiple bank accounts after a Keystone Bank system malfunction artificially inflated account balances, allowing unauthorized withdrawals totaling ₦5.7 billion, according to court filings seen by TechCabal. Justice D.E. Osiagor of the Federal High Court in Lagos granted a motion on February 18, 2025, ordering banks to block transactions on the affected accounts until further hearings. The accounts, spread across Opay, Providus Bank, Sterling Bank, Access Bank, Zenith Bank, TAJ Bank, GTBank, First Bank, Moniepoint, Fidelity Bank, and United Bank for Africa (UBA), collectively hold the disputed funds, according to court documents seen by TechCabal. How the Glitch Happened According to an affidavit sworn by Keystone Bank, the unauthorized updates occurred between February 1 and February 12, 2025, when a routine account review uncovered an inflated available balance that did not match any legitimate credit transaction. Further investigation revealed that technical glitches had artificially increased balances across multiple naira-denominated accounts, enabling unauthorized withdrawals. The N5.7 billion was then funneled through 21 accounts before being transferred to various secondary recipients, according to Keystone’s filing. A person familiar with the matter said investigators are now mapping out the movement of funds and assessing the level of involvement of various banks. Typically, first-level beneficiaries receive the initial inflow, while second-level beneficiaries receive funds that have been further dispersed, adding layers of complexity to the probe. Keystone Bank has not responded to requests for comment. This isn’t the first time a Nigerian bank has been caught in a large-scale transfer error. In January, Guaranty Trust Bank (GTBank) secured a court order to recover ₦1.9 billion mistakenly credited to customer accounts following an October 2024 system failure. Such cases are raising concerns about how well Nigerian banks safeguard interbank settlements, especially as transaction volumes surge. Some analysts warn that outdated infrastructure and weak oversight could be making the system more prone to both errors and fraud exploits. Still, a banking insider who requested anonymity pushed back on these concerns, calling the incidents “highly unusual” and insisting they represent only a negligible fraction of total transactions.
Read MoreCoinbase, Onboard Global partner to offer crypto P2P payments to Nigerians
Coinbase, a global crypto giant, has partnered with Onboard Global, a crypto payments platform, to enable Nigerian users to buy and sell cryptocurrencies seamlessly. The partnership comes one year after Nigeria’s regulatory issues with Binance, the world’s largest crypto exchange, opening up the market to alternative crypto exchanges. Coinbase did not previously offer crypto buying and selling services to Nigerians, citing that governing bodies “prohibit transactions with certain high-risk regions.” However, with the partnership, that risk will be handled by Onboard, which will provide verification and a secure peer-to-peer (P2P) exchange platform for trades to take place, shielding Coinbase from any regulatory risk. If the amount is below $100, Nigerians can buy crypto on Coinbase without KYC, unblocking them from accessing crypto. “With Onboard P2P, Coinbase Wallet users can purchase crypto using local currency from a network of seller merchants in as little as 5 minutes, with no need for ID verification if you buy under $100 in total,” the global crypto giant said in a statement. Base, a layer-2 blockchain network developed by Coinbase, will be central to the partnership, providing a scalable, low-cost protocol that supports crypto transactions. As Base is built on the Ethereum blockchain, users can assess Ether ($ETH), ERC-20 tokens like USD Coin (USDC), Dai ($DAI), Wrapped Bitcoin ($WBTC), Chainlink ($LINK), and 540 more tokens on the network. When uncongested, Base reaches a speed of 95 transactions per second (TPS), making it faster than most protocols. Onboard Global, a portfolio company of Nestcoin, currently offers different options for users to buy crypto. It partners with Onramper, a crypto payment gateway, to allow users buy crypto from different liquidity providers like Yellow Card, Coinify, Neocrypto, Alchemy Pay, and LocalRamp. They can also make bank transfers to fund virtual accounts or buy from P2P merchants. Onboard vets and recruits merchants to its platform through an interest form. With the partnership in place, merchants who sell crypto via Onboard will gain the opportunity to reach a larger audience on Coinbase. On Friday, Coinbase claimed the US Securities and Exchange Commission (SEC) planned to drop a lawsuit against the company for operating without proper registration as an exchange, brokerage, and clearing agency. The move to enter the Nigerian market through this integration instantly makes Coinbase a whale in the ocean and could shake up the competition in the industry among foreign crypto exchanges like Bybit, Bitget, and Phantom, operating in the country. While the limited range of popular cryptocurrencies on its Base network currently reduces its competitive threat, this situation is likely temporary. The global giant could explore adding more blockchain protocols or forming partnerships with local platforms that already have existing relationships. Such moves would align with Coinbase’s strategy to mitigate risks. Onboard and Coinbase are aiming to enable this payment option in over 50 countries in the coming year.
Read MoreOnline marketplace, GiriToday, courts Africa’s Diaspora who want a taste of home
For Africans in the diaspora, buying authentic African products—fabrics, clothing, spices, and art—can be challenging. Their options are often limited to overpriced African stores in their communities, middlemen reselling on global platforms like Etsy at marked-up prices, or waiting for someone traveling from the continent to bring what they need. But what if they could order directly from sellers on the continent and receive their items within five days? GiriToday, a newly launched e-commerce platform, wants to make this possible. Founded in 2024 by ex-Flutterwave VP Wale Ayantoye and Ola Ajiboye, GiriToday is a marketplace that helps African artisans and entrepreneurs sell their products to international buyers. The platform enables sellers to list and ship products globally while accepting payments through both local and international payment systems. Ayantoye’s journey to founding GiriToday began when he served as Director of Financial Crime Operations at Etsy, the global marketplace for creative goods. There, he observed persistent issues that Etsy struggled to solve, particularly for African sellers. Orders could take up to two weeks to reach customers, and middlemen often added significant markups, making African-made products expensive for buyers. GiriToday aims to address these problems by eliminating intermediaries, reducing shipping times, and lowering product costs for international buyers. “Oftentimes when businesses think of Africa, they think of risk. At GiriToday, we are not afraid of digging for diamonds in the rough, we understand the terrain, and we are localizing our playbook to meet that demand,” Ayantoye told TechCabal. How GiriToday works Merchants can list their products for free on GiriToday, managing inventory, orders, and customer messages from a single dashboard. The platform allows them to set up customized online storefronts, similar to Shopify. Payments are facilitated by Flutterwave, while CourierPlus handles logistics and shipping. To ensure trust and quality control, GiriToday has implemented a product authentication system to prevent the common “what I ordered vs. what I got” issue. Before listing a product, GiriToday’s team verifies authenticity and quality using a network of trained entrepreneurs. The company currently operates an authentication center in Lagos, where goods from across Nigeria are inspected before being listed on the platform. Over time, it plans to establish multiple authentication and warehousing centers across Nigeria and other African markets. Beyond logistics, GiriToday is taking an offline-first approach to merchant acquisition. Instead of relying solely on digital marketing and influencer campaigns, the company is educating sellers in local markets about scaling internationally, running TV and radio media campaigns, and partnering with local merchant associations to increase adoption. Ayantoye believes this strategy will help build trust with potential customers. “If the first place a customer hears about you is through a skit or an influencer marketer, they might not take you seriously,” he told TechCabal. How GiriToday stacks up against Anka and Etsy Selling African products internationally represents a massive but underdeveloped opportunity. A McKinsey & Company report projects that consumer spending in Africa will surpass $2 trillion in the next three years. While much of this spending currently goes to imported goods, platforms like GiriToday could help shift some of that demand toward African exports. GiriToday is particularly betting on the Nigerian diaspora, which contributes $20 billion annually to Nigeria’s economy through remittances. This consumer base has a consistent demand for products that reflect their heritage. “Immigrants are very predictable; they want to buy stuff that looks like home. And when they do, they buy in bulk,” Ayantoye said. GiriToday enters a space where platforms like Etsy and Anka, an Ivorian startup connecting African sellers with global buyers, already operate. However, its business model differs in key ways. Unlike Etsy, which operates as a global marketplace where African sellers often have to navigate complex logistics and payment hurdles on their own, GiriToday provides direct shipping, local payment integration, and authentication centers to ensure quality control before products leave the continent. Anka, on the other hand, primarily serves Francophone Africa, while GiriToday is focused on Nigerian merchants with plans to expand across sub-Saharan Africa. Another key distinction is that GiriToday eliminates middlemen, ensuring that African artisans sell directly to buyers instead of relying on resellers, which is common on both Etsy and Anka. Shipping times are also a critical factor. Etsy orders can take anywhere from one to three weeks to reach buyers, while Anka typically delivers within seven to fourteen days. In contrast, GiriToday promises a much shorter five-day delivery window, giving it a potential competitive edge in terms of speed. Payment processing is another differentiator. While Etsy primarily supports international payment systems, GiriToday integrates local and international payment options through Flutterwave, making it easier for African sellers to receive payments without relying on third-party workarounds. Ayantoye believes GiriToday could eventually disrupt Etsy’s dominance in this niche. “What we are doing is breaking down Etsy’s middlemen. If we disrupt their market enough, we can discuss a partnership down the line,” he said. How GiriToday makes money GiriToday operates a multi-revenue model that includes transaction fees on products and shipping, in-app advertisements, and trade financing. The company earns a percentage-based fee on transactions, ensuring that it remains profitable on high-end goods while keeping margins reasonable on lower-priced items. It also offers merchants paid promotions for increased visibility on the platform. More significantly, GiriToday plans to introduce a trade financing model that allows sellers to access credit for bulk sales, with the company earning interest on the loans. According to Ayantoye, this approach balances affordability for buyers while ensuring that more money goes directly to merchants. “At the end of the day, it’s about creating a win-win situation—for us, for the sellers, and for the buyers. We want artisans to earn fairly, buyers to get authentic African products at great prices, and GiriToday to keep growing as the bridge that connects both,” he said. The trade financing model could be particularly lucrative, as many African merchants struggle with upfront capital for bulk purchases. By providing sellers with access to credit, GiriToday can help them scale their businesses while generating additional
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