The Federal Government of Nigeria has opened a $110 million iDICE debt financing window for Nigerian technology and creative businesses, giving eligible startups access to structured funding to expand operations, acquire productive assets, and reach new markets. The financing is being delivered through two facilities launched by the Bank of Industry (BOI), the implementing agency
When OPay launched its National Innovation Challenge earlier this year, it was not just looking for ideas. It was searching for the next generation of builders who could help shape Nigeria’s digital economy. After receiving more than 2,200 applications from over 11,000 undergraduate students across Nigeria, the fintech company has selected the top 48 teams
Wema Bank is deepening its investment in Nigeria’s fintech ecosystem, using stronger partnerships and financial infrastructure to position itself as one of the key institutions powering the next phase of digital finance growth. As more fintech companies seek reliable banking infrastructure to scale their services, the Bank says collaboration remains central to its long-term strategy.
As digital fraud continues to evolve across Nigeria, prevention is becoming just as important as recovery. OPay is shifting its security strategy in that direction with the introduction of two new in-app features, Emergency Lock and Safety PIN, designed to help customers stop fraudulent transactions before money leaves their accounts. Rather than focusing solely on
For many businesses in Nigeria, access to working capital remains one of the biggest barriers to growth. A new partnership between MTN Nigeria and Fiducia is seeking to change that by expanding supply chain finance opportunities for suppliers and vendors operating within MTN’s ecosystem. Fiducia, a supply chain finance company, has entered into a strategic
For years, LemFi built its reputation by helping migrants move money across borders. Now, the fintech is making a much bigger play for customers’ financial lives. The company has secured approval from the UK’s Financial Conduct Authority (FCA) to acquire investment platform Wealth8, a move that takes LemFi beyond remittances and deeper into wealth management,
Digital payments are no longer just about sending money. In Nigeria, they are becoming part of the infrastructure powering commerce, supporting businesses, expanding access to financial services, and connecting millions of people to the formal economy. As the Central Bank of Nigeria pushes ahead with its Payment System Vision 2028, companies such as OPay are
Remittances are becoming a major battleground in global fintech, and a growing number of Nigerians in the United Kingdom are now turning to SendOva for better exchange rates and zero transfer fees when sending money home. SendOva, the trading name of Balazoo Express, is licensed by the Financial Conduct Authority. The app is built around
For years, Africa’s digital payments conversation has largely revolved around fintech startups, mobile money, and cross-border payment platforms. Yet behind millions of everyday transactions, one payments infrastructure player has been steadily expanding its footprint across the continent and beyond. With more than 100 million cards now issued, Verve is strengthening its position as one of
LAGOS, Nigeria — Despite Nigerians spending more than half of their income on food, only 1% of that spending currently happens online. That startling gap has become one of the biggest growth opportunities in Nigeria’s digital economy, according to executives at Glovo, who say the next phase of commerce growth will be driven by bringing