Category: Nigeria
Nigerian digital freight provider MVX lands $1.3M to help shippers move cargoes faster
In Africa, chartering vessels and processing ocean freight can be challenging. The sector is largely inefficient and fragmented. Merchants also struggle to access finance to perform cross-border trade in the continent. A couple of digital freight companies are tackling this problem, like Nigerian-based MVX. The company today is announcing its…
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Field Intelligence targets 11 African cities to expand its pharmacy inventory-management service
Pharmacies in Africa struggle with access to finance, but inventory management is really what bogs them down. How do pharmaceutical retailers know how much stock they need? How do they know which products to stock at a given time? How do they know what products aren’t selling? At the moment,…
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What we learned from selling a blockchain service to African governments
Mohammed Ibrahim Jega Contributor Mohammed Ibrahim Jega is the co-founder of Domineum Blockchain Solutions, a serial tech entrepreneur, startup adviser, fintech expert and blockchain advocate. A major attraction of Africa is its large population of 1.2 billion, which hints at a sizable addressable market. But what happens when your target…
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Nigeria leads mobile app market growth in Africa as use of gaming apps surge 44% from Q1 2020
The pandemic’s effect on the global app market has not been hard to miss. In the first quarter and first half of this year, consumer spending in mobile apps hit new records at $32 billion and $64.9 billion, respectively. In Africa, it can be tough to call out exact numbers…
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Ex-SafeBoda executive Babajide Duroshola joins M-KOPA to lead expansion into Nigeria
On June 18, Babajide Duroshola, ex-Country Head, SafeBoda Nigeria, stepped down from his role two years after taking the job post-Andela. Less than a month later, the executive has found a new role as General Manager in Kenyan company, M-KOPA. His appointment coincides with M-KOPA’s broader expansion strategy, which includes…
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Tiger Global leads $42M Series B in Nigerian credit-led neobank FairMoney
Neobanks have led the charge as regards venture capital funding for consumer fintech startups. But while they have collectively dominated the fintech space, they don’t operate a monolithic model. There are five distinct models, and the one adopted by Nubank, the $30 billion behemoth, is the credit-led model. Neobanks operating…
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