The Central Bank of Nigeria (CBN) has directed all banks operating in the country to adopt the Pan-African Payment and Settlement System (PAPSS) and commence originating transactions under the new framework, as part of efforts to deepen intra-African trade and improve cross-border payment efficiency. According to a statement on Monday…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
In a strategic move to expand its footprint in grassroots financial services, C-One Ventures Platform (C-One) has announced plans to invest in and acquire the licences, technology, and select assets of Bankly, a prominent Nigerian microfinance bank and fintech company. The agreement, which remains subject to regulatory approval from the…
Elon Musk’s ambitions in artificial intelligence are about to reach new heights. According to Bloomberg News, XAI Holdings — the newly merged entity combining Musk’s AI startup xAI and social media platform X (formerly Twitter) — is reportedly in talks to raise $20 billion in new funding. If successful, the…
Despite cooling investor enthusiasm for African B2B commerce startups, OmniRetail has defied the trend with a $20 million Series A equity raise. Led by Norfund and Timon Capital, the funding round positions the Lagos-based platform for aggressive expansion across Nigeria, Ghana, and Ivory Coast, while deepening its focus on embedded…
For over two decades, Google Search has been the undisputed gateway to the world’s information. Whether users needed directions, definitions, news updates, or shopping advice, they instinctively turned to the familiar search bar. But over the past year, a major shift has quietly been underway: more people are beginning to…
Vodafone Business and Maroc Telecom have announced a new strategic partnership aimed at expanding digital services and connectivity solutions for enterprise and public sector customers in Morocco. The collaboration builds on Vodafone’s existing alliance with Emirates Telecommunications Group (e&), which owns Maroc Telecom. Under the newly signed Memorandum of Understanding…
The Nigerian Competition and Consumer Protection Tribunal has upheld the Federal Competition and Consumer Protection Commission’s (FCCPC) $220 million fine against Meta Platforms Incorporated and WhatsApp LLC, affirming the regulator’s authority and actions on nearly all disputed issues. In a ruling delivered by a three-member panel led by Honorable Thomas…
MTN Group has confirmed that it recently experienced a cybersecurity incident that led to unauthorized access to personal information of some customers in certain markets. It however did not list the affected markets. The company emphasized that its core network, billing systems, and financial services infrastructure were not affected and…
The African Private Capital Association (AVCA) and the Private Equity and Venture Capital Association of Nigeria (PEVCA) have officially joined forces, combining their strengths to expand investment opportunities and deepen private capital flows within Nigeria and across West Africa. The merger blends AVCA’s strong track record in market research, advocacy,…
Just a few years ago, the metaverse was the next big thing. Tech giants poured billions into building immersive virtual worlds. Executives changed their job titles, startups rebranded overnight, and Facebook became Meta. From gaming to education, from retail to real estate, the metaverse was pitched as the future of…
Meta Platforms Inc., the parent company of Facebook, has confirmed layoffs within its Reality Labs division, the arm responsible for driving its ambitious efforts in virtual and augmented reality (VR/AR). The company has not disclosed the number of employees affected, but the cuts hit various teams within Oculus Studios, the…
The World Bank Group has launched the next phase of its Private Sector Investment Lab, reinforcing its commitment to job creation and sustainable development in emerging economies. The initiative, which seeks to unlock private capital for impactful investments, now includes Nigeria’s Aliko Dangote and Bharti Airtel’s Sunil Mittal among its…
Flutterwave, Yellow Card, and Onafriq—three of Africa’s most innovative and impactful fintech companies—have joined the newly launched Circle Payments Network (CPN), a global infrastructure developed by Circle Internet Group, the issuer of the USDC stablecoin. Their participation is a powerful signal of Africa’s rising influence in global financial innovation and…
The European Union has fined Apple and Meta Platforms a combined €700 million (approximately $770 million) for violating the bloc’s Digital Markets Act (DMA)—a move that has not only intensified transatlantic tech tensions but could significantly reshape how the companies operate in Europe. The European Commission, the EU’s executive arm,…
DeFi Technologies Inc., along with its subsidiaries Valour Inc. and SovFi Inc., has entered into a groundbreaking partnership with the Nairobi Securities Exchange (NSE) to design and launch the Kenya Digital Exchange (KDX)—a regulated platform aimed at transforming Kenya’s capital markets through blockchain technology and digital asset trading. This initiative…
OpenAI has indicated it would consider acquiring Google’s Chrome browser if U.S. regulators succeed in forcing Alphabet Inc. to divest the product as part of ongoing antitrust proceedings. The disclosure was made during testimony in Washington by Nick Turley, OpenAI’s Head of Product for ChatGPT, during the high-profile case brought…
Google Fi Wireless (formerly Project Fi) has gained popularity among global travelers and digital nomads for its flexible pricing, seamless international coverage, and integration with Google’s ecosystem. But if you live outside the U.S., you might be wondering: Can I use Google Fi internationally? And how do I get started…
Meta has officially launched Edits, a powerful, all-in-one mobile video editing app aimed at giving creators greater control, flexibility, and creative freedom. Available globally on iOS and Android, Edits is positioned as a direct competitor to ByteDance’s CapCut, with several key differences—most notably, no watermark on exported videos and complete…
IZI Electric has unveiled the Impala E30, a 30-seater electric coach engineered specifically for Africa’s public transport needs. Purpose-built to endure the continent’s terrain and climate, the Impala E30 sets a new benchmark for electric mobility in Africa with its industry-first 10-year/1-million-kilometer battery warranty—a major leap forward in both trust…
MEST Africa, in collaboration with the Mastercard Foundation, has announced the second cohort of 12 dynamic startups selected for the prestigious Mastercard Foundation EdTech Fellowship in Ghana. This six-month acceleration program, now in its second year, is aimed at empowering Africa’s most promising EdTech ventures with funding, expert mentorship, and…