Tag: Nigeria
Opera’s OPay still plans Africa expansion on Nigerian super app
Opera’s Africa fintech startup OPay remains committed to building a multi-service super app in Nigeria as the foundation to expand on the continent. OPay also continues to operate ORide for limited passenger service — though the company is shifting the motorcycle ride-hail operation toward logistics businesses. These were some of…
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Novastar Ventures becomes $200M African VC fund after $108M raise
African startups have another $100 million in VC to pitch for after Novastar Ventures’ latest raise. The Nairobi and Lagos based investment group announced it has closed $108 million in new commitments to launch its Africa Fund II, which brings Novastar’s total capital to $200 million. With the additional resources,…
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Nigeria’s Helium Health raises $10M Series A for Africa expansion
Nigerian startup Helium Health sits in a good position during a difficult period, according to its co-founder. The Lagos based healthtech venture is in the black, has batted away acquisition offers, and just raised a $10 million Series A round, CEO Adegoke Olubusi told TechCrunch. The startup offers a product…
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Andela CEO confirms staff cuts as layoffs hit African tech
Africa-focused tech talent accelerator Andela has let go 135 employees, CEO Jeremy Johnson confirmed to TechCrunch. Senior staff at the company — with offices in New York and five African countries — will also take salary cuts of 10% to 30%. The compensation and staff reductions are a result of…
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Why COVID-19 could delay Interswitch, Africa’s next big IPO
The economic effects of COVID-19 could delay Africa’s next big IPO — that of Nigerian fintech unicorn Interswitch. If so, it wouldn’t be the first time the Lagos-based payments company’s plans for going public were postponed; the tech world has been anticipating Interswitch’s stock market debut since 2016. For the…
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Africa Roundup: Visa connects to M-Pesa, Flutterwave enters e-commerce
It seems the demand for Safaricom’s M-Pesa payment product never eases. Since its 2007 launch in Kenya, the fintech app has commanded over 70% of the mobile money market in that country. When COVID-19 hit the East African nation of 53 million in March, the Kenyan Central Bank turned to…
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