Browsing: Startups in Nigeria

afri plastic
  • Nine Kenyan startups are competing for a share of more than $4.4 million in funding as part of a Sub-Saharan-African plastics innovation challenge.
  • Kenyan and Nigerian startups dominated the cohort of finalists, with nine startups each, out of the total 40 finalists startups that made it to the final phase of the Prize.
  • Launched in July 2021, the Afri-Plastics Challenge received 1,141 entries from innovators across sub-Saharan Africa.  

Nine Kenyan startups are competing for a share of more than $4.4 million in funding as part of a Sub-Saharan-African plastics innovation challenge.

Run by innovation prize experts Challenge Works and funded by the Government of Canada, the
Afri-Plastics Challenge is tackling plastic waste and reducing pollution making its way into the marine
environment.

Kenyan and Nigerian startups dominated the cohort of finalists, with nine startups each, out of the total 40 finalists startups that made it to the final phase of …

Central Bank of Nigeria’s logo is seen on the headquarters building in Abuja, Nigeria. www.theexchange.africa
  • Nigeria’s central bank has awarded the startup a PSSP licence, enabling it to operate as a payment solutions service provider within the country.
  • This serves as a demonstration of the Nigerian central bank’s commitment to supporting fintech startups in the country.

Nigeria’s central bank, the Central Bank of Nigeria (CBN), has recently shown its commitment to supporting fintech startups in the country through its decision to award a Payment Solutions Service Provider (PSSP) license to fintech startup, Fincra.

This comes six months after the bank issued Fincra an approval-in-principle. This licence falls within the relatively new categorization of licences introduced by the apex bank in December 2020, which confers financial institutions the legal right to “engage in payment processing gateway and portals, develop payment solutions or merchant service aggregation and collections services”.

Founded in 2021 by Wole Ayodele, multiple-time founder and co-founder of the crypto exchange platform Quidax, Fincra was …