Bolt drivers in Nigeria are becoming increasingly wary of offline trips, and the platform’s recent crackdown on the practice may explain why. Keytakeaways Since late 2024, Bolt has cut offline rides by 42% through a blend of real-time monitoring, algorithmic penalties, and safety-first messaging. Drivers who try to shift trips off the Bolt app to.
Tolaram Group has evolved from what began in the late 1970s as a modest noodle importer to owning the iconic Guinness Nigeria, spearheading the construction of the Lekki Deep Sea Port, and the Lagos Free Zone. Here’s how they did it, and what lessons Nigerian businesses can take from their playbook. Key Takeaways Tolaram is.
The announcement of Okra, the Nigerian open banking startup once hailed as “the future of African fintech,” shutting down operations is still surreal for many who are enthusiastic about the prospects of the African tech ecosystem. There are more questions than answers. How could a startup with so much promise go under? Just a few.
Six innovative Nigerian startups have been selected for the 2025 Google for Startups Accelerator: Africa. The new Class 9 cohort, unveiled on Tuesday, showcases 15 AI-powered ventures from seven African countries, with Nigeria’s representatives solving real-world challenges in fintech, healthtech, logistics, and software development. With nearly 1,500 applications across the continent, the selected startups emerged.
In a bold show of confidence in the bank she leads, Dr. Nneka Onyeali-Ikpe, Managing Director and Chief Executive Officer of Fidelity Bank Plc, has increased her equity stake by acquiring 18 million additional shares in the bank. The transaction, officially filed with the Nigerian Exchange on May 19, 2025, shows the shares were acquired.
‘Amoke Oge,’ a local food vendor in Lagos, Nigeria, owned by Hajia Amoke Odukoya, has generated ₦2.3 billion in revenue from 500,000 fulfilled orders on Chowdeck, the fast-growing digital food delivery platform. This feat makes Amoge Oge the first woman-led business to cross the half-a-million delivery mark on the platform. The milestone, calculated from an.
Mark Zuckerberg-led Meta, the parent company of WhatsApp, Facebook, and Instagram, may shut down its services in Nigeria. This comes after Nigeria’s Competition and Consumer Protection Tribunal upheld a ₦220 billion fine against the company for allegedly violating data privacy laws and abusing its market power. The ruling, based on a long-running investigation, found Meta.
A wave of startup closures is sweeping through Africa’s tech ecosystem, and Nigeria appears to be the hardest hit. Four promising African startups closed their doors between January and March 2025 alone. The shutdowns follow a stark decline in funding, compared to the significant investment that flowed into the ecosystem over the last five years..
In 2016, Mukesh Ambani, chairman of Reliance Industries and the richest man in Asia, launched what would become the most ruthless, brilliant, and transformative takeover of a major industry in modern history. Within six months of entering India’s telecom market, he rewrote the rules. In less than three years, his company, Reliance Jio, forced 11.
Raising capital from an African VC firm is not just about a pitch deck and passion. It’s about alignment. Market fit. Discipline. And above all, clarity. Too many founders build in isolation, guessing at what investors want. But thanks to insights from the Investor Guide, a working document developed by TechCabal in collaboration with leading.
