Author: Akin Naphtal

Telecommunication companies have been instructed by the federal government of Nigeria, to block all outgoing calls on sims not yet registered, and linked with the National Identification Number (NIN), from today 4th of April, 2022. TheNewsGuru.com, (TNG) recalls the FG had given Nigerians up to March 31 to get hooked up or get disconnected. As it is there are more than 20.4m that will be affected. This was disclosed by, the Director of public affairs of the Nigerian Communication Commission (NCC) Ikechukwu Adinde, and Kayode Adegoke head of corporate communications, National Identity Management Commission (NIMC), in a joint statement on…

Nigerian ed-tech startup Klas, which allows anyone to set up an online school and deliver live classes, has raised a US$130,000 angel funding round to help it scale. Founded in December 2021 by Nathan Nwachuku, Klas allows creators on its platform to teach a variety of subjects via online classes, with its software supporting everything they need to teach online, including payments, scheduling, community, analytics, and video conferencing. READ ALSO: South Africa Fintech Startup, Sticitt Secures Oversubscribed Round of Seed Funding The funding round saw investments Voltron Capital, Cabal Fund, Velocity Digital, and HoaQ, as well as a number of prominent…

Sticitt, a South African fintech startup, has received an oversubscribed round of seed funding to help it grow. Sticitt, which was co-founded in January 2018 by Theo Kitshoff, Mitch Dart, and Dennis Wevel, simplifies payments within the South African education market with its simple payment system, Sticitt Pay, which offers niche communities an alternative payment solution to cash, formal banking, and card-based payments. Sticitt, which is primarily focused on the education market, raised $250,000 in funding in 2020 and has now secured a strategic investment from a consortium led by Nustate Capital Ventures in a seed round that was 1.5X…

In line with United Nations International Children’s Emergency Fund (UNICEF) advocacy campaign for Protecting children online, the Minister of Communications and Digital Economy, Nigeria, Prof. Isa Ali Ibrahim (Pantami) has inaugurated the National Committee on the Development of a Unified National Strategy on Child Online Protection (COP) in Nigeria. The committee has members drawn from the Federal Ministry of Communications and Digital Economy; Federal Ministry of Women Affairs and Social Development; Federal Ministry of Justice; Nigerian Communication Commission (NCC); National Information Technology Development Agency (NITDA); National Agency for the Prohibition of Trafficking in Persons (NAPTIP); Association of Licensed Telecommunications Operators…

Nigerian “buy now, pay later” (BNPL) startup CredPal has raised US$15 million in funding to expand its consumer credit offerings in Nigeria and scale across Africa. Launched in 2018 by Fehintolu Olaogun and Olorunfemi Jegede, CredPal is a consumer credit platform that gives buyers the freedom to buy now and pay later, and helps merchants acquire more customers to increase sales. The startup has over 85,000 active customers and over 4,000 onboarded merchants, and has now raise debt financing and a bridge round totalling US$15 million to scale further. Existing backers including Greenhouse Capital have participated in the bridge round,…

Applications are now open for the fourth year of Africa’s Business Heroes competition, which annually awards 10 outstanding entrepreneurs from across Africa with a share of a US$1.5 million grant. Africa’s Business Heroes (ABH (competition is the flagship philanthropic initiative spearheaded by the Jack Ma Foundation aimed at supporting and inspiring the next generation of African entrepreneurs across all sectors. Over a ten-year period, ABH will recognise 100 African entrepreneurs and commit to allocating grant funding, training programmes, and support for the development of a stronger entrepreneurial ecosystem. Entrepreneurs from all 54 African countries, across every sector, age group, and…

Morocco’s Al Mada Holding Group has launched a MAD1.1 billion (US$110 million) pan-African venture capital fund to invest in fast-growing startups across the continent. Al Mada, an investment holding company controlled by the Moroccan royal family, is one of the largest private investment funds in Africa, and its new fund aims to attract innovative investors and take part in the exponentially-growing African startup landscape. The fund will back tech or tech-enabled startups in industries including financial services, health, logistics, education, and renewable energy. It will operate as a vertical accelerator, targeting startups that have reached a certain level of maturity…

Nigerians may have to pay higher tariffs for telecommunications services as network operators lament over rising cases of vandalization and insecurity as well as the high cost of diesel to power their more than 20,000 bases stations nationwide. The Association of Licensed Telecoms Operators of Nigeria (ALTON) has announced a Thursday media interaction in Lagos to inform the public on the state of affairs even as it also raised concerns over the shut down of telecom facilities in Kogi state – an action connected to case of double taxation. ALTON is the umbrella body for all telecom operators in Nigeria.…

Director-General, National Information Technology Development Agency (NITDA),  Kashifu Inuwa Abdullahi, has called for more strengthening of Nigeria’s cybersecurity architecture in order to promote its digital ecosystem. Abdullahi made the call at the recently held ‘GISEC Global Africa Program in Dubai, United Arab Emirates (UAE). The program was one of the major highlights of the annual Gulf Information Security Exhibition and Conference (GISEC), organised by the Dubai World Trade Centre (DWTC), an agency of the UAE’s government. While presenting a paper titled: ‘Strengthening Nigeria’s Digital Ecosystem: Implementing Effective Cybersecurity Frameworks,’ Abdullahi stressed major achievements of the Nigerian government in cybersecurity including…

MFS Africa, the largest pan-African digital payments hub, announces that it has completed its acquisition of Capricorn Digital Limited, known in the market as Baxi. The transaction was first announced in November 2021 pending approval of the Central Bank of Nigeria, which has now been granted. Baxi is one of Nigeria’s largest independent SME-focused electronic payment networks, with over 90,000 agents. It provides a cash-in/cash-out offering as well as value-added services (account opening, money transfer, bill payment and more) to the last mile. As well as providing entry into the Nigerian market for MFS Africa, the acquisition also provides exciting…