From Lagos to Nairobi

Kuda Bank, a Nigerian neobank, secured an undisclosed equity funding round in 2024 to cushion its growing losses and declining cash reserves. Despite revenue reaching $32 million and a user base of 7.2 million in 2023, the bank’s losses surged to $40 million. Though Kuda previously denied raising funds in 2023, its latest filings confirm…

The 2021 Central Bank of Nigeria (CBN) ban on crypto transactions dealt a significant blow to Nigeria’s thriving crypto industry, forcing many startups to shut down or pivot. Companies like Bitfxt, LocalBitcoins, and Paxful were particularly hard hit, as banks closed their accounts, effectively locking them out of the financial system overnight. Before the ban,…

Kenya is facing a growing issue of digital misinformation, as a coordinated social media campaign by the government portrays an image of economic success that contradicts on-the-ground realities. Despite claims of low inflation, job creation, and improved public services, Kenyans are struggling with high living costs, heavy taxes, and business closures. The government is reportedly…

Africa’s Internet Development Conference 2025, hosted by the Internet Society in Addis Ababa, Ethiopia, has called for increased investment, policy reforms, and regional collaboration to expand connectivity and drive digital inclusion. The conference gathered 250 stakeholders, including policymakers and tech leaders, to address key challenges in Internet development across Africa, particularly in the Intergovernmental Authority…

Startbutton, a Merchant of Record (MoR) service helping businesses expand across Africa, has entered seven Francophone countries—Benin, Togo, Senegal, Mali, Burkina Faso, Guinea Conakry, and Cameroon. This expansion brings its presence to 15 African markets, including Ivory Coast, Nigeria, Ghana, Kenya, Rwanda, South Africa, and Uganda. Francophone Africa, home to over 300 million people and…

Kenya’s digital banking landscape is evolving, and NCBA LOOP is at the forefront of this transformation. Originally launched as a digital bank in 2017, LOOP is now shifting towards an embedded finance model, integrating credit and payments directly into transactions. This move aligns with global trends where financial services seamlessly merge into everyday commercial activities….