Africa’s Fintech Revolution: Native Innovation, Global Entrants, and the Future of Interoperability Africa’s financial technology landscape is undergoing one of the most dynamic evolutions in the world. Long marginalized by legacy global platforms, the continent has developed homegrown solutions to fit its own realities — a phenomenon brilliantly captured in “Africa Didn’t Wait for PayPal: Inside the Rise of Homegrown Fintech Giants.” At the same time, global players like PayPal are returning with renewed strategies — notably laid out in “PayPal’s Strategic Reentry into Africa: A Game‑Changer for Fintech Interoperability and Cross‑Border Growth” — setting the stage for a new…
Author: FinTech Today
Banditry, Kidnapping and Conflict Are Taxing Nigeria’s Food Systems – Here’s How Nigeria’s agricultural sector — once the backbone of the economy and a key source of employment and food security — is under severe strain. While climate change, inflation, and economic pressures are well‑documented challenges, a less visible but equally destructive force has emerged: insecurity. The persistent wave of banditry, kidnapping, pastoral conflict, and other forms of violence has effectively imposed a direct and debilitating “tax” on Nigeria’s food systems. Analysts warn that unless insecurity is addressed decisively, the nation’s food production, distribution, and prices will continue to deteriorate,…
How Nigeria’s $470 Million Police Communication Network Fell Into Ruins After 2015 In 2012, Nigeria embarked on one of its most ambitious internal security technology projects: the National Public Security Communication System (NPSCS). Valued at approximately $470 million, the project was designed to modernize police communications, improve emergency response, and strengthen national security through technology. At the time, it was hailed as a landmark investment that would bring Nigeria’s policing infrastructure closer to global standards. More than a decade later, however, much of the system lies dormant, abandoned, or severely degraded—raising uncomfortable questions about governance, continuity, and accountability in public…
CBN Revokes Licenses of Aso Savings, Union Homes Over Regulatory Breaches The Central Bank of Nigeria (CBN) has revoked the operating licenses of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, marking a significant regulatory intervention in Nigeria’s mortgage banking sub-sector. The decision underscores the apex bank’s renewed resolve to enforce compliance, strengthen financial system stability, and protect depositors in an increasingly fragile economic environment. The license revocation was announced via an official statement shared on the CBN’s verified social media channels by the Acting Director of Corporate Communications, Mrs. Hakama Ali, on Tuesday. According to…
Making Internet Access Affordable and Inclusive in Nigeria’s Digital Economy Nigeria’s digital economy is often celebrated as one of Africa’s most promising. With a population of over 200 million people, a fast-growing technology ecosystem, and rising smartphone adoption, the country is frequently positioned as a continental digital leader. Yet behind these encouraging indicators lies a more complex and troubling reality: millions of Nigerians remain disconnected from the internet, not by choice, but by cost, coverage, and capability. This digital divide threatens to slow Nigeria’s economic progress, deepen social inequality, and exclude large segments of the population from opportunities increasingly…
The Chinese Dragon Has Entered Our Digital Wallet What China’s Quiet Fintech Expansion Means for Nigeria’s Payments Future Introduction For decades, China’s presence in Nigeria has been highly visible — roads, railways, power projects, telecommunications infrastructure, and manufacturing hubs. But a quieter, less obvious shift is now taking place. The Chinese dragon has entered something far more intimate than highways or ports: our digital wallets. From payment rails and point-of-sale infrastructure to smartphone ecosystems and cross-border settlement technology, Chinese-linked fintech influence is increasingly embedded in how Nigerians send, receive, and store money. This development is not always obvious to everyday…
Chowdeck Expands Quick Commerce with GoLemon Dark Store Partnership Chowdeck Taps GoLemon to Supply Dark Stores in New Instant Delivery Push Chowdeck, Nigeria’s fast-growing delivery startup, has entered a strategic partnership with GoLemon, a local online grocery platform, to supply groceries to Chowdeck’s network of dark stores and expand its instant delivery services The collaboration will allow Chowdeck customers to access a curated selection of GoLemon’s grocery essentials instantly through the Chowdeck app — while GoLemon continues to operate its own platform for next-day grocery delivery and larger shopping baskets. What’s Behind the Partnership Under the arrangement: GoLemon will supply…