Nigerian Open Banking Startup Okra Quietly Shut In May 2025
- Okra has ceased all operations, including its cloud-services spin-off Nebula.
- The company raised about $16 million from global investors before shutting down.
- Okra stopped trading in May 2025, with no public statement issued regarding the closure.
The collapse of Okra highlights the critical need for timely regulatory frameworks in emerging markets, especially in the tech sector. Without a supportive environment, innovative startups may struggle to survive against larger, better-funded competitors, ultimately stifling growth in the open-banking space.
