Tech 8 - Life in Lagos

How Uber’s Investment in Nigeria Boosted Drivers’ Annual Earnings to ₦6.1 Billion
Uber, the renowned global mobility platform, has injected ₦34 billion into Nigeria’s local economy, significantly enhancing the annual earnings of drivers across the country to...

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2 weeks ago2 weeks ago

Uber, the renowned global mobility platform, has injected ₦34 billion into Nigeria’s local economy, significantly enhancing the annual earnings of drivers across the country to ₦6.1 billion as of 2023. This milestone was announced during the Lagos Road Mobility Summit, a collaborative event with the State Ministry of Transport aimed at fostering discussions on safer...

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Nigeria’s Digital Economy Powers 14.4% Surge in GDP Growth for Q2 2025
In the second quarter of 2025, Nigeria’s Digital Economy sector contributed an impressive N7.37 trillion to the nation’s Real Gross Domestic Product (GDP), accounting for...

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2 weeks ago2 weeks ago

In the second quarter of 2025, Nigeria’s Digital Economy sector contributed an impressive N7.37 trillion to the nation’s Real Gross Domestic Product (GDP), accounting for 14.4% of the total N51.20 trillion GDP. This data was disclosed in a recent publication by the National Bureau of Statistics (NBS), which also highlighted a 4.23% growth in the...

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7 Million Africans Unlock $2 Billion in Credit Power with M-KOPA Over 15 Years – Report
M-KOPA, a leading pan-African fintech company, has empowered over 7 million customers across five countries, facilitating more than $2 billion in credit since its inception...

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2 weeks ago2 weeks ago

M-KOPA, a leading pan-African fintech company, has empowered over 7 million customers across five countries, facilitating more than $2 billion in credit since its inception in 2010, according to the company’s latest report. What started 15 years ago as a venture selling pay-as-you-go solar energy kits in Kenya has evolved into a dynamic fintech platform....

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South African Uber and Bolt Drivers Face New Restrictions: No More Free Nationwide Operations
In South Africa, new transport regulations have introduced geographic restrictions for e-hailing drivers, meaning Uber, Bolt, and similar service providers can no longer operate freely...

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2 weeks ago2 weeks ago

In South Africa, new transport regulations have introduced geographic restrictions for e-hailing drivers, meaning Uber, Bolt, and similar service providers can no longer operate freely across provincial borders. Licences will now be province-specific, confining pickups and drop-offs to the area where the licence is registered. This adjustment is part of comprehensive reforms under the updated...

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How Your ₦50 Contribution Fuels a Massive ₦796 Billion Boost for the Government
Welcome to Follow the Money, our weekly deep dive into the earnings, business models, and growth tactics of African fintech companies and

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Tech
2 weeks ago2 weeks ago

Welcome to Follow the Money, our weekly deep dive into the earnings, business models, and growth tactics of African fintech companies and

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Trump Taps Murdoch and Ellison to Head TikTok Deal as ByteDance Secures One of Seven Board Seats
On Sunday, former President Donald Trump announced that a group of leading American business leaders will be involved in a proposed agreement designed to keep...

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2 weeks ago2 weeks ago

On Sunday, former President Donald Trump announced that a group of leading American business leaders will be involved in a proposed agreement designed to keep TikTok operational within the United States. Among the investors named are media executive Lachlan Murdoch, Oracle co-founder Larry Ellison, and Michael Dell, founder of Dell Technologies. This new ownership structure...

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Nada Shaheen Warns: Why Africa’s Biggest Companies Risk Extinction by Overlooking Startups
Corporate venture capital (CVC) remains an uncommon practice across Africa, as many prominent corporations choose to steer clear of the continent’s burgeoning startup scene, concentrating...

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2 weeks ago2 weeks ago

Corporate venture capital (CVC) remains an uncommon practice across Africa, as many prominent corporations choose to steer clear of the continent’s burgeoning startup scene, concentrating instead on their primary business activities. In contrast, on the global stage, corporate venture capitalists represent approximately 36% of the total venture capital deal value, highlighting a stark difference in...

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From Survival to Scale: Linda Olumide’s Winning People Strategy for Fintech Growth
Data from the industry reveals that over 40% of Nigerian startups funded between 2021 and 2023 had ceased operations by mid-2024. Linda Olumide, a globally...

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2 weeks ago2 weeks ago

Data from the industry reveals that over 40% of Nigerian startups funded between 2021 and 2023 had ceased operations by mid-2024. Linda Olumide, a globally accredited HR expert, highlights that while factors like funding shortages, regulatory hurdles, and flawed business models contribute, challenges related to people management are consistently at the core. Issues such as...

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Safaricom Unveils M-PESA’s Biggest Upgrade in 10 Years – Will Partners Jump On Board?
Safaricom, Kenya’s leading telecommunications provider with a subscriber base exceeding 35 million, has successfully executed the most extensive upgrade of the M-PESA core system since...

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2 weeks ago2 weeks ago

Safaricom, Kenya’s leading telecommunications provider with a subscriber base exceeding 35 million, has successfully executed the most extensive upgrade of the M-PESA core system since the platform was localized ten years ago. Services were fully restored early Monday morning following a three-hour transition period. This major enhancement, dubbed Fintech 2.0, transitions Africa’s second most popular...

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Drive the Future: Invest in Drivers Today, Bet Big on Autonomous Cars Tomorrow
Cet article est également disponible en français First published 21 Sept, 2025 Image: Moove Moove’s model thrives by converting drivers’ anticipated earnings into loan repayments;...

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2 weeks ago2 weeks ago

Cet article est également disponible en français First published 21 Sept, 2025 Image: Moove Moove’s model thrives by converting drivers’ anticipated earnings into loan repayments; however, in a future dominated by autonomous vehicles, the absence of drivers challenges this approach. Lagos-based startup Moove, which specializes in vehicle financing for ride-hailing drivers through installment plans, is...

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