A major fintech competitor in Nigeria, known for its hybrid model combining digital banking with physical touchpoints.
Follow the Money (Wrapped): Tax laws, ATMs’ return, and where money went in 2025
Remote workers in Nigeria will be taxed starting January 2026, with personal income tax applicable to both local and foreign earnings. Crypto profits will be taxed from 2026, with a 10% tax on gains, while losses will not be considered.
Paystack revives Consumer App, Zap, eight months after $190,000 fine
Paystack has restored access to its consumer app, Zap, after a compliance dispute with the Central Bank of Nigeria. The fintech was fined 250 million naira ($190,000) eight months ago for operating Zap outside its licensing scope.
Fintechs lead Africa’s 2025 valuation table, even as the market resets
African tech startups previously enjoyed Silicon Valley-like valuations during the post-COVID fundraising boom. Local investors now outnumber foreign investors, leading to lower valuation expectations.
Why Nigerian Startups Are Avoiding Local IPOs
Nigerian startups have not listed on the NGX's technology board since its launch in 2022. The naira has lost approximately 65% of its value since President Bola Tinubu loosened FX controls in 2023.
