When Olugbenga “GB” Agboola founded Flutterwave, his goal was simple: He wanted to provide businesses in Africa with a way to utilize modern financial systems. But what ended up happening went far beyond what he envisioned. Born in Nigeria and educated at the MIT Sloan School of Management in Massachusetts, Olugbenga Agboola knew a few …
Financial Sector Deepening (FSD) Kenya and the Financial Access Initiative (FAI) research centre of New York University, today presented the results of the Kenya Small Firm Diaries (SFD) study in Nairobi. The Small Firm Diaries is a global research project being conducted between 2021 to 2023 in seven countries: Kenya, Nigeria, Uganda, Ethiopia, Indonesia, Fiji and Colombia. The …
TECNO, a global innovative technology brand, has recently unveiled its latest material innovation in smartphone design – the “Magic Skin” in Africa. This innovative material promises to revolutionise phone backs by offering a combination of skin-friendly properties, stylish design, and easy cleaning capabilities. The company stated that it plans to integrate this material into its …
President Bola Tinubu has highlighted the need for a unified exchange rate and a reduction in interest rates to drive up investment in the country. Tinubu, in his inaugural speech on Monday, said the Central Bank of Nigeria (CBN) must work towards a unified exchange rate. “This will direct funds away from arbitrage into meaningful …
Bola Tinubu will on Monday be inaugurated as Nigeria’s new president, inheriting a bulging in-tray that includes fixing a stagnant economy and tackling the insecurity that blights Africa’s most populous country. Tinubu takes the reins from Muhammadu Buhari, whose eight years in office are generally viewed as having left Nigeria less secure and poorer than …
CBN bows to the Supreme Court’s order After six long weeks of naira swap tussle, the Central Bank of Nigeria (CBN) finally bows to the Supreme Court’s order to extend the deadline for the use of old naira notes to December 31, 2023. Nigerian residents can now do business with the old banknotes of N1,000, …
A growing number of Nigerian big banks are making inroads into the financial technology space, putting the valuation of fintech firms in the country under the spotlight. Around 2017, when fintech companies were seen as major disruptors in financial services, it was almost a given they will end the reign of the traditional banks. But …
Squad, a payment platform launched by HabariPay, the fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), made some eye-popping announcements in its report for the first quarter of 2023 without spending top dollars on advertisement. The bank-backed startup launched in June 2022 recorded N1.15 trillion in gateway and switching segments in less than one …
Banks’ Unstructured Supplementary Service Data (USSD) service revenues look set to decline over the approval by the Nigerian Communications Commission (NCC) to disconnect telecommunication operators from its service. Nigerian mobile telecommunications companies (telcos) consisting of MTN, Glo, Airtel, and 9mobile have said they would halt their USSD service over banks’ accumulated USSD debt of N120 …
The hardest things should come first for Nigeria’s President-elect Bola Tinubu who has a long list of reforms to push through if he must fix an economy in turmoil. Tinubu, who will be officially inaugurated today as Nigeria’s president, takes over a divided country with significant macroeconomic challenges that cut across the real, monetary, fiscal …