South Africa’s LovCash bets on blockchain to digitise cash-heavy trade sector
South Africa’s informal trade sector is getting a digital upgrade with LovCash’s latest move to blockchain-powered transactions. The digital payments platform has teamed up with Lisk, a German blockchain company that makes transactions faster, low cost and secure, to help small retailers, supermarkets, and informal traders move away from cash-based transactions to digital payments. LovCash sees a massive opportunity in digitising South Africa’s informal economy, which employs about 20% of the country’s workforce yet remains largely cash-based, making it difficult for businesses to track sales, offer rewards, or extend credit. LovCash aims to change that by introducing a digital-first payment, rewards, and commerce system designed to enhance trade efficiency, security, and financial transparency. “Many businesses in South Africa operate in fragmented, cash-dependent environments, with no access to supply chain rewards,” said Costas Constantinou, founder & CEO of LovCash. “With LovCash, we are replacing cash with a digital-first system that improves trade, benefits, security, transparency, and efficiency.” South Africa’s informal economy has been hard to digitise. Most businesses operate with limited digital infrastructure and prefer cash, which complicates everything from credit scoring to supplier incentives. The result is a supply chain that is hard to track and easy to abuse. The risks are costly. Cash-related fraud and theft cost South African businesses an estimated R3.3 billion (over $183 million) a year. By building its platform on Lisk’s blockchain, LovCash hopes it can help cut these losses by creating tamper-proof, traceable transactions that don’t require a traditional bank account. 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 Unlike in traditional banking, which charges high transaction fees on small payments, blockchain-based systems allow payments to move without intermediaries, a potentially game-changing proposition in markets where margins are razor-thin and trust is low. Lisk’s COO Dominic Schwenter said the partnership goes beyond payment rails. “By addressing real-world supply chain challenges, they deliver tangible value, streamlining operations for commercial partners, empowering informal market players with digital access, and offering end users secure, rewarding transactions,” he said. LovCash is also building a digital rewards system to keep traders engaged. Retailers can earn instant cashback, get access to exclusive deals, and participate in loyalty programmes, all through the LovCash platform. Since launching in 2018, LovCash says it has onboarded over 3,700 retailers and signed distribution partnerships with nine of South Africa’s largest wholesalers. The platform has grown by 275% in the past five months, according to company figures. Lisk has also committed to investing directly in LovCash, offering both funding and technical support. While the exact sum has not been disclosed, the two companies say the collaboration will help scale the platform and attract other investors. Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot.techcabal.com
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Dell laptop prices in Nigeria: Your ultimate buying guide
This guide will help you make sense of Dell laptop prices in Nigeria. You’ll find a clear breakdown of what different models cost, the difference between brand-new and UK-used (foreign used) laptops, and what factors affect these prices, like the exchange rate or where you’re buying from. By the end, you’ll know what to look for and how to buy a Dell laptop that suits your needs and budget. Dell laptop series in Nigeria Dell offers several series, each designed for different types of users, including students, office workers, business owners, gamers, and tech professionals. Knowing the difference will help you choose the laptop that suits your needs and budget. 1. Dell Inspiron – For everyday use The Dell Inspiron series is one of the most popular options in Nigeria. It’s great for regular day-to-day tasks, such as browsing, watching videos, typing documents, or attending online classes. If you’re a student or you just need a laptop for light work, this is a good place to start. Most Inspiron laptops come with Intel Core i3, i5, or i7 processors, and many now have SSD storage, which makes them faster to use. Models like the Inspiron 14 and 15 are standard in the Nigerian market. Some newer Inspiron models are also designed for light gaming, featuring better processors and graphics cards, such as the NVIDIA RTX 3060, all at a reasonable price. You can even find solid Inspiron options under ₦300,000 that are perfect for school or light office work. 2. Dell Latitude – For business and work If you’re looking for something strong and reliable for office work, the Dell Latitude series is worth considering. These laptops are renowned for their durability and are frequently used in companies due to their robust construction and advanced security features. Dell Latitudes often come with fingerprint readers, TPM (Trusted Platform Module), and other security features that protect your files. You’ll usually find Intel Core i5 or i7 processors, good RAM, and SSDs that keep things running smoothly. Even older models, such as the Latitude 7490, continue to sell well in Nigeria, demonstrating the high level of trust people have in them. They’re available both brand-new and UK-used and are great for anyone who needs a laptop that can handle daily work without problems. 3. Dell XPS – For premium quality and performance If you want something high-end that looks sleek and works fast, the Dell XPS series might be for you. These laptops are crafted with top-quality materials and powerful components, making them ideal for individuals who engage in video editing, design, or simply desire a stylish and fast laptop. XPS laptops typically come with powerful processors (such as Intel Core Ultra), stunning high-resolution screens, and blazing-fast SSD storage. They also feature solid keyboards, fingerprint readers, and excellent sound quality. One of the highlights is the XPS 15, which is built to last — even the hinge has been tested to withstand opening and closing over 20,000 times. While they are expensive, many buyers see them as a long-term investment. 4. Dell G Series & Alienware – For gaming For serious gaming, Dell has two main options: the G Series and Alienware. Dell G Series laptops are designed for individuals who seek strong performance without incurring excessive costs. They’re a good starting point for gaming and often come with good graphics cards and cooling systems. Alienware laptops, on the other hand, are for hardcore gamers. These are premium gaming machines with top-of-the-line GPUs (like NVIDIA GeForce RTX), super-fast displays (120Hz, 144Hz, 240Hz), and powerful cooling systems. The big price difference between regular laptops and gaming ones comes from the GPU. These graphics cards are expensive and are what make gaming laptops cost as much as ₦7 million in some cases. But if gaming is your thing, this is where the power is. 5. Dell Vostro – For small business owners If you run a small business or you’re just starting one, the Dell Vostro series is a solid choice. These laptops are affordable and reliable, giving you just what you need to run your business smoothly without any extras you won’t use. They often come with Intel Core i3 or i5 processors, enough RAM for multitasking, and SSDs that help you work faster. Some Vostro models also come with Ubuntu, which saves you money on Windows licenses. If you want a business laptop that won’t cost too much, the Vostro is worth a look. 6. Dell Precision – For heavy-duty work The Precision series is designed for professionals who utilise demanding software, such as engineers, architects, video editors, and data analysts. These laptops are powerful workstations, not general-use laptops. They come with Intel Core i7, i9, or even Xeon processors, professional-grade GPUs (like NVIDIA RTX A-series), and a robust build quality. They’re expensive, but that’s because of the high-performance parts inside. If your work depends on running heavy software smoothly, the Precision line is made for you. It’s not just a laptop, it’s a work tool. New Dell laptop prices in Nigeria If you’re planning to buy a Dell laptop, it’s good to know that Dell laptop prices in Nigeria can vary a lot. Some laptops are affordable and straightforward, while others are built for high performance and come at a much higher cost. Your budget, the kind of work you do, and the features you want will all affect the price you’ll pay. You’ll find new Dell laptops on websites like Jumia, Konga, Slot, and Waziri. But stock can change quickly, so not all models will be available at the same time. 1. Dell Inspiron prices in Nigeria Dell Inspiron laptops are designed for everyday use, such as typing, browsing, and watching videos. If you need something basic, you can get an Inspiron 3493 (Core i3, 4GB RAM, 1TB HDD + 128GB SSD) for around ₦335,000. If you want more speed and storage, models like the Inspiron 7306 (11th Gen Core i5, 8GB RAM, 512GB SSD) cost approximately ₦571,989. Mid-range options,
Read MoreSafaricom’s Ziidi money market fund on the spot over anti-competitive behaviour
A fund manager has asked the Competition Authority of Kenya (CAK) to investigate Safaricom over what he says is preferential treatment for its new money market product, Ziidi. The May 26 letter by I.C. Law LLP, which mentions Cytonn CEO Edwin Dande as its client, claims that Safaricom is distorting the market by giving Ziidi free access to its M-PESA infrastructure while rival funds are forced to pass on transaction costs to customers. “We submit that this arrangement constitutes a restrictive trade practice under section 21 of the Competition Act as it applies dissimilar conditions to equivalent transactions, limits market access for competing funds, and distorts competition in the retail investment market,” the letter, which TechCabal saw, said. “We respectfully request that the Competition Authority of Kenya investigate this conduct and take appropriate enforcement action, including the termination of the exclusive arrangement and imposition of necessary sanctions.” The letter argues that the structure breaks competition law, and rests the case on the claim that Safaricom, which controls over 91% of mobile money services in Kenya, is using its infrastructure to give Ziidi privileged access at the expense of everyone else. The letter further claims that the setup amounts to a restrictive vertical agreement, where Safaricom and Ziidi, two separate entities, treat similar transactions differently. Investors using other funds are charged between KES 10 and KES 60 for deposits and withdrawals, depending on the amount. Ziidi users pay nothing. The letter names Standard Investment Bank, ALA Capital, and Sanlam Investments East Africa—Ziidi’s fund managers—as indirect beneficiaries of this pricing setup. The complainants claim this gives Ziidi an unfair customer acquisition and retention edge, even when competing funds offer similar or better returns. The call for CAK’s intervention comes amid growing disquiet over the rollout of Ziidi. Safaricom has not addressed the future of Mali, its first money market product launched in 2020, which has remained frozen since early 2025. Genghis Capital, Mali’s fund manager, previously accused Safaricom of orchestrating a silent exit from Mali, first by triggering a liquidity crunch and then directing customers toward Ziidi without consent. Ziidi received regulatory approval in November 2024 and now counts over one million users with KES 6 billion ($46 million) in assets. Some Mali users were allegedly migrated to Ziidi without opting in, which sparked a legal dispute between Safaricom and Genghis. While both products still appear on the M-PESA app, only Ziidi remains operational. Mali is no longer accepting new sign-ups. Kenya’s money market space has seen rapid growth. As of June 2024, money market funds held 67.4% of total collective investments, amounting to KES 171.2 billion ($1.3 billion). This growth has come with increased competition, particularly around access to low-cost, mobile-first retail investors. The complainant wants CAK to compel Safaricom to either extend zero-rated M-PESA access to all market players or restore parity by charging transaction fees on Ziidi. They argue that without such enforcement, the market will tilt further in favour of vertically aligned products and erode trust in the country’s digital finance ecosystem. Neither the law firm representing Dande nor Safaricom immediately offered comment on the matter.
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👨🏿🚀TechCabal Daily – LemFi finds its next Pillar
In partnership with Lire en Français اقرأ هذا باللغة العربية Good morning! Ads are coming to WhatsApp! Yesterday, Meta announced that it would roll out advertisements on the messaging app. Meta says ads won’t show up in personal or group chats but will instead be introduced in the app’s Updates tab, which hosts Status updates and Channels. How do you feel about that? I only wonder how this is going to affect WhatsApp influencers who sell ad spaces on their whatsapp statuses. In other news, we are launching our web-only newsletter about tech in Francophone Africa today. If you want to get smarter about tech innovation, policy, culture, and economy as it unfolds in Francophone Africa, the newsletter is curated just for you. We have teamed up with Lina Kacyem of Launch Africa to bring you the biggest insider insights and analysis of the region’s technology landscape. Sign up here and be the first to know. Safaricom briefly hit a trillion-shilling in market cap Wave enters Cameroon’s payments market LemFi acquires Pillar to give migrants access to credit Airtel’s SmartCash now lets you buy car insurance from your phone World Wide Web 3 Opportunities Companies Safaricom briefly hit a trillion-shilling in market cap Image Source: Safaricom On June 12, Safaricom, Kenya’s largest telecom company, celebrated briefly after it became a KES 1 trillion ($7.7 billion) company. This was the first time that Safaricom reached a trillion-shilling status since October 2022. Being worth a trillion-shilling last week made Safaricom the most valuable company on the Nairobi Stock Exchange (NSE). In good company: Safaricom is among only eight publicly-traded telecom companies in Africa that have at least $1 billion market caps, including MTN Group, MTN Nigeria, Airtel Africa, Vodacom Group, Sonatel Senegal, Morocco’s Maroc Telecom, and South Africa’s Telkom. However, Safaricom has since lost its trillion-shilling status. At the close of market on Monday, Safaricom’s market cap had declined to KES 987.61 billion ($7.6 billion). Yet, the telecom giant has been on an upward market trend. Year-to-date, Safaricom has grown its market share by 43% from KES 689.13 billion ($5.3 billion) to KES 987.61 billion ($7.6 billion). Its share price has also climbed from KES 17.25 ($0.13) to KES 23 ($0.18) since the start of the year. Why is Safaricom’s market cap flying high? The rally is due to a string of strong financial results and investor confidence. In May 2025, Safaricom posted a record KES 388.7 billion ($3 billion) in revenue and a 10.8% rise in net income. Much of the momentum is also driven by M-Pesa, which now contributes 44.2% of service revenue. Expanding into Ethiopia has added 2.8 million M-Pesa users in one year, who are transacting KES 20.6 billion ($159 million). Safaricom also expects to turn profitable in Ethiopia by 2027. Join Fincra for an Exclusive Networking Mixer at iFX Expo, Cyprus. Fincra is co-hosting “AI-Powered Fintech and Blockchain” at iFX Expo, Cyprus, with Quidax. Join the brightest minds in fintech and blockchain for insightful panels & networking. Limited spots – RSVP here. 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 Fintech Wave enters Cameroon’s payments market Image Source: Wave US fintech startup, Wave, is making its debut in Cameroon’s payments scene from June 11, 2025. Through a partnership with Commercial Bank Cameroon (CBC), Wave will allow users to deposit and withdraw cash, pay bills, receive international transfers, and make
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Airtel’s SmartCash partners Leadway to bypass car insurance limitations for motorists
SmartCash Payment Service Bank (PSB), a subsidiary of Airtel Nigeria, has partnered with Leadway Assurance to offer mobile-based car insurance services. This marks a strategic shift for SmartCash PSB as it seeks new ways to grow within the constraints of its payment service banking licence. The new partnership enables SmartCash users to seamlessly access Leadway’s Third-Party and AutoBase Comprehensive car insurance directly via the SmartCash app or USSD code *939#, with premiums starting from as low as ₦15,000. The process—from plan selection to payment and receipt of digital policy documents—can be completed in under three minutes, eliminating the need for paperwork or in-person visits. While this marks a significant step in improving convenience and access, it also highlights the underlying constraints of Nigeria’s regulatory environment for Payment Service Banks (PSBs). Under the Central Bank of Nigeria (CBN) guidelines, PSBs are prohibited from offering credit, foreign exchange, or underwriting insurance products. This regulatory limitation prevents SmartCash from directly selling or managing insurance services, effectively curbing its ability to evolve into a full-scale digital finance platform. Instead, the bank must depend on partnerships with licensed third-party providers like Leadway Assurance to expand its service offerings—an approach that allows value-added services while staying within compliance boundaries. This stands in stark contrast to Airtel Africa’s operations in other African markets with more flexible regulatory frameworks. In countries such as Kenya, Uganda, and Zambia, Airtel has successfully rolled out bundled microinsurance products through its mobile money platform. In Kenya, for example, Airtel Money users can access life and hospital cash insurance via a partnership with Britam. Similar models in Uganda and Zambia enable customers to pay insurance premiums directly from their mobile wallets—an integrated approach that remains out of reach in Nigeria due to PSB licensing constraints. 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 For Airtel Nigeria, the partnership with Leadway represents both an opportunity and a necessity as it works to strengthen SmartCash’s position in Nigeria’s competitive fintech space. Mobile money adoption in Nigeria continues to lag behind frontrunners like Kenya and Ghana, and despite Airtel’s wide telecom footprint, it has struggled to convert users into active participants in its financial ecosystem. By embedding services like insurance, SmartCash hopes to drive user engagement and build relevance, but without deeper regulatory reforms, its growth potential will remain limited compared to its operations in more permissive markets. “At Smartcash, our goal has always been to bring inclusive financial solutions closer to everyday Nigerians,” said Tunde Kuponiyi, Chief Executive Officer, Smartcash PSB. “By partnering with Leadway Assurance, we’re making it easier for motorists to insure their vehicles without stress or delays. It’s insurance that moves at your speed.” The significance of this development goes beyond insurance. It reflects the evolving landscape of Nigeria’s digital finance sector, where telcos, banks, and fintechs are all vying to offer bundled services that meet users where they are, often on low-end phones and patchy networks. “This collaboration with SmartCash enables us to deliver real-time protection to more Nigerians via a trusted, everyday platform. It marks a bold step in transforming how insurance is accessed and experienced across the country,” said Kike Fischer, Director, Sales, Retail and Partnership, Leadway Assurance. As PSBs continue to navigate regulatory limits, partnerships like this could define how far they go in delivering real impact. For SmartCash, tapping into insurance may not just be a value-added service —
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Inside Feexet: The social enterprise using tech, community, and grit to drive grassroots change
Over 2.5 million tonnes of plastic waste are generated in Nigeria every year, yet most of it ends up in streets, waterways, and landfills. At the same time, thousands of young Nigerians remain underemployed, despite having the potential to thrive in tech and creative industries. These two realities may seem unrelated, but for Feexet, they’re part of the same story. Feexet is a Nigerian social enterprise using design, technology, and community organising to tackle everyday challenges that often go overlooked. Whether it’s waste pollution or lack of access to digital education, the team believes that with the right tools, individuals and communities can take the lead in solving their challenges. Over time, that mission has taken shape through projects that blend action with accountability. Among them, two have stood out. One tackles the challenge of urban waste and environmental neglect. The other invests in young people through free, practical tech education. CleanSweep: From street corners to a city-wide movement The CleanSweep Project is one of Feexet’s most visible efforts. On the surface, it looks like a neighbourhood clean-up drive. But spend a few minutes speaking with the team or attending one of the clean-ups, and you’ll realise it’s much more than that. At its core, CleanSweep is about community-led environmental accountability. People report polluted areas. Gutters choked with waste. Illegal dumping sites. Places no one wants to claim. Then, Feexet mobilises. Volunteers show up. Tools are handed out. Plastics are sorted, bagged, and weighed. And slowly, things change. To date, CleanSweep has cleared over 2,000 kg of waste across several communities in Abuja and beyond. And that’s just the beginning. As more reports started coming in, the team realised they needed a better way to manage and scale the work. So they built the CleanSweep App, a tool that lets people report polluted areas, sign up as volunteers, track clean-up events, and even earn rewards. “We wanted to create something that doesn’t just organise clean-ups, but actually builds a culture of ownership around public spaces,” says Christopher Balogun, one of Feexet’s co-founders. “The app helps us coordinate better, but it’s also about recognising people who show up again and again. So we created a volunteer leaderboard and a small reward system. It works.” The app recently went live on the Google Play Store, and the team encourages anyone who wants to help or just see what’s happening nearby to download it. Techquity: Training the next generation of tech talent While CleanSweep tackles sustainability on the ground, Feexet’s Techquity programme takes a different approach, focusing on practical learning experiences for young people across digital fields. Launched in 2023, Techquity began as an experiment. Could a grassroots design and coding bootcamp help close the access gap for young Nigerians who wanted to break into tech? The answer, it turns out, was yes. The first cohort, Techquity 1.0, trained over 120 participants, focusing on UI/UX design, web development, and digital communication. Several alumni have gone on to secure full-time roles, while others now freelance or intern with Feexet, building on the momentum they gained. Now, Techquity 2.0 is in full swing. With more than 200 participants enrolled from across Nigeria, sessions are held three times a week, combining live instruction, peer collaboration, and mentorship. It’s not just about skills. It’s about confidence. Community. And, perhaps more importantly, it’s about decentralising access to tech opportunities. It ensures that innovation isn’t limited to specific cities or networks but reaches every eager learner with a smartphone and drive. A different kind of enterprise Feexet also describes itself as a “digital service agency,” but that barely scratches the surface. Yes, they’ve designed over 150 websites, launched several mobile and web apps, and run digital campaigns for clients in different sectors. But the twist is in the model. They reinvest their earnings into community impact projects like CleanSweep and Techquity. “We’re still figuring it out,” Christopher adds. “There’s no perfect roadmap for this. But we know we want to keep doing work that matters. And keep showing that small, intentional teams can still do big things.” They may not claim to have all the answers. But if you’re looking for proof that technology, community, and accountability can mix and lead to tangible change, Feexet is a good place to start watching.
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Meta says your WhatsApp Updates, which houses Status, will now have ads
Meta, the parent company of WhatsApp, has announced that it will start rolling out advertisements on the messaging app, marking a significant shift from the platform’s long-standing ad-free model. Announced on Monday, 16 June, the ads will not show up in personal or group chats but will instead be introduced in the app’s Updates tab, which hosts Status updates and Channels. The company says this move is part of a broader strategy to monetise WhatsApp’s massive global user base, which exceeds 3 billion monthly active users. “We’ve been talking for years about how to build a business on WhatsApp in a way that doesn’t interrupt personal chats,” WhatsApp said in a statement. “We believe the Updates tab is the right place to introduce that.” The Updates tab is already used by 1.5 billion people each day, according to the company. By focusing ads in this space, WhatsApp says it can preserve the private and encrypted messaging experience that has defined the app since its launch in 2009. In addition to Status ads, WhatsApp is launching two other monetisation tools: channel subscriptions, where users can pay monthly to access exclusive content from creators and businesses; and promoted channels, which give admins the ability to boost visibility within the platform’s directory. To address privacy concerns, WhatsApp reiterated that end-to-end encryption remains intact for all personal chats, calls, and group messages. Ad targeting will be limited to non-sensitive information such as location (city or country), language, followed channels, and how users interact with updates. Users who have linked WhatsApp to Meta’s Accounts Centre may receive more personalised ads, drawing on preferences across Facebook and Instagram. “We will never sell or share your phone number with advertisers,” the company added. The new features will roll out gradually over the coming months, as Meta positions WhatsApp to play a more prominent role in its broader business messaging and advertising ecosystem. Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot.techcabal.com
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Nigeria’s headline inflation falls for second straight month on naira stability
Nigeria’s headline inflation moderated slightly in May, its second slowdown in two months, as a result of relative exchange rate stability and moderating fuel prices. The National Bureau of Statistics reported headline inflation at 22.97%, down from April’s 24.2%, while food inflation declined to 21.14% from 21.79%. The slowdown reflects a 1% naira appreciation in official markets, which eased import costs for manufacturers, and a temporary lull in global commodity prices. “The tight monetary environment and anchored exchange rate expectations played a critical role,” said Dumebi Oluwole, Senior Economist at Stears, who had projected a slowdown to 23.19%. Olajide Oyadeyi of EconoDay noted that January’s CPI rebasing created favorable base effects, though energy and transport costs remained sticky. However, inflation outlook remains mixed. Despite the deceleration, flooding in Benue State and parts of the Middle Belt disrupted farm-to-market supply chains, keeping food inflation elevated in localised regions. Samuel Oyekanmi, an analyst at a financial services group, Norrenberger, warned that “April’s 50% food inflation surge in Benue foreshadowed risks of regional shocks spilling into national averages.” The Central Bank of Nigeria kept its benchmark interest rate unchanged at 27.50% in May, marking a second consecutive hold as policymakers assessed the impact of earlier tightening. The Monetary Policy Committee will closely examine the latest figures from May and June before deciding on any policy adjustments at its July meeting. Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot.techcabal.com
Read MorePryme in talks to raise $38M signs $13M termsheet with Black Water Fund
Pryme, the UK-headquartered fintech building a financial operating system for the globally mobile generation, has signed a £10 million ($13m equivalent)n investment termsheet with Black Water Fund as part of its ongoing £30 million raise (equivalent of $38m). The investment signals strong confidence in Pryme’s mission to enable a truly borderless financial life for freelancers, small businesses, and digital-first entrepreneurs navigating cross-border challenges. Pryme is purpose-built to address the structural gaps faced by modern global earners. Its platform combines multi-currency banking for seamless international payments, embedded credit to fuel business growth, AI-powered insights to manage cash flow and operations, and integrated tools like invoicing and ERP systems—all within a single, connected ecosystem. By blending intelligent infrastructure with practical financial tools, Pryme is not just enabling payments; it is building the rails for global business. The company’s story began in 2016 as a small e-commerce venture launched from a faulty Samsung tablet in Africa. Recognizing the demand for more inclusive financial tools, Pryme introduced its prepaid card—OjirehPrime—which grew organically to 40,000 users. In 2020, Pryme acquired a licensed microfinance bank, and by 2022 launched its mobile app. It has since relocated its global headquarters to the United Kingdom and rebuilt its core infrastructure to deliver multi-currency banking at scale. Today, Pryme stands at an inflection point. The new capital will support its product expansion, deepen regulatory readiness in strategic markets, and scale its footprint in the UK and North America. As part of this strategy, Pryme is finalizing the acquisition of an IPO-ready enterprise management platform in Canada to fast-track its North American entry. The acquisition will strengthen its B2B and B2C capabilities, enhance product integration, and open up new revenue channels across multiple currencies and jurisdictions. The £10 million investment from Black Water Fund is contingent on the successful close of the full £30 million round, which is actively in progress. Pryme’s momentum is driven by a clear understanding of its users—modern businesses and freelancers operating without borders. With strong product-market fit, a growing user base, and a platform built for scale, Pryme is shaping the future of global finance. For investment or media inquiries, please contact: support@mypryme.com
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AXIAN’s strategic bet on Jumia signals rising confidence in Africa’s digital economy
Africa’s digital commerce sector is entering a new chapter, one defined not by speculation, but by strategic partnerships that reflect long-term confidence in the continent’s growth. One of the most significant developments in this space is AXIAN Telecom’s recent acquisition of a 9.18% stake in Jumia, the leading e-commerce platform operating across multiple African markets. According to the latest filing with the U.S. Securities and Exchange Commission, AXIAN increased its position from 8% after purchasing additional shares on Friday. This investment is more than a financial transaction, it is a clear endorsement of Jumia’s renewed strategic direction, operational discipline, its fintech potential through JumiaPay, and its growing relevance in the continent’s e-commerce and digital space. With Jumia doubling down on logistics efficiency, marketplace growth, and robust supply, AXIAN’s involvement positions the company for deeper market integration and broader impact in the continent’s fast-evolving digital landscape. AXIAN’s entry into Jumia’s shareholder base brings together two powerhouses: a telecom and digital services conglomerate with a growing footprint across Africa, and a tech-driven e-commerce platform with deep market knowledge. This synergy unlocks significant opportunities – from mobile commerce integration and data-led consumer engagement, to improved last-mile delivery powered by better connectivity and payment infrastructure. In a statement accompanying the announcement, AXIAN Telecom CEO Hassan Jaber said the company is “supportive of Jumia’s strategic vision,” describing Jumia’s retail, logistics, and fintech capabilities as crucial drivers of economic and financial inclusion across the continent. Crucially, AXIAN has also signaled intent to explore the use of Jumia’s payment gateway, JumiaPay, within its fintech ecosystem – positioning Jumia not just as a merchant platform, but as a payment enabler for broader digital use cases. This is a compelling validation of JumiaPay as a foundational layer for Africa’s digital economy, capable of powering merchant payments and more. As Jumia evolves into a more streamlined and sustainable business, the support of a strategic investor like AXIAN reflects the confidence that serious, long-term players have in Jumia’s vision and Africa’s e-commerce potential. Jumia’s Nigeria growth: A strong foundation Jumia’s performance in Nigeria, its largest market, underpins much of this renewed confidence. According to the company’s Q1 2025 earnings, orders in Nigeria were up 22%, with Gross Merchandise Value (GMV) rising 20% year-over-year, underscoring both user engagement and operational effectiveness in a tough macroeconomic environment. This momentum follows a strong 2024, when Jumia reportedly achieved high double-digit growth in Nigeria in constant currency, despite inflationary pressures and a weakening naira. A former executive close to the company’s Nigeria operations confirmed that order volumes and active customers grew significantly during 2024, adding that “Nigerians are clearly seeing value in Jumia’s services, the model is proving resilient and relevant.” This data point further underlines the platform’s role as a long-term player in Nigeria’s commerce ecosystem, not just for urban consumers, but increasingly for informal sellers and small businesses leveraging the platform’s reach and infrastructure as well as consumers in underserved communities. One of the most promising trends Jumia is tapping into is social commerce. In a country where WhatsApp and Instagram sellers dominate informal retail, Jumia is building digital rails that allow social sellers to reach more customers and leverage last-mile delivery services. This is particularly empowering for women entrepreneurs and youth-led ventures. Jumia’s delivery expansion is not only improving customer experience, it’s also transforming how small and medium-sized enterprises (SMEs) operate. By offering affordable nationwide logistics, Jumia is enabling Nigerian businesses to scale beyond their immediate environments, fueling local economies and reducing the digital divide. Over the last two years, Jumia has recalibrated its operations: exiting unprofitable markets, consolidating its product offerings, and focusing on core regions where it sees long-term potential. The result? Five consecutive quarters of improved Gross Profit After Fulfillment, better unit economics, and a clearer roadmap to profitability. The company’s new direction reflects maturity – a move away from a growth-at-all-costs model to a focus on building a sustainable, tech-driven ecosystem that truly fits the African context. Jumia is evolving from a pure marketplace into a digital platform that supports commerce, logistics, payments, and entrepreneurship. It is this vision – of an Africa-centered, mobile-first infrastructure for commerce that has attracted partners like AXIAN, and that continues to inspire optimism among those who understand the nuances of building in Africa. Far from being a short-term bet, Jumia’s journey represents the resilience, innovation, and collaborative growth that define Africa’s next economic frontier.
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