“Our focus is to make sure all the ride-hailing companies put our members on Health Maintenance Organisation (HMO) plans,” Ibrahim Ayoade, the general secretary of the App-Based Transporters of Nigeria (AUATON), told TechCabal on a phone call today.

Nigeria’s stock exchange sets new all-time high to continue strong start to 2024: For the second consecutive week, the Nigerian stock market began on a positive note, as investors continued to take advantage of the market's strong performance to trade… dlvr.it/T191WM

Woven Finance, the fintech startup founded by Trium, a venture group by Coronation Group, is discontinuing its service, according to an email shared with customers on Wednesday morning.   techcabal.com/2024/01/10/wov…

Exclusive: Woven Finance, a fintech startup backed by Coronation Group, is shutting down : Woven Finance, the fintech startup founded by Trium, a venture group by Coronation Group, is discontinuing its service, according to an email shared with customers… dlvr.it/T1BRZ7

The ₦1 Trillion club: Nigeria’s five biggest banks are now valued at ₦6.1 trillion: Nigeria's five biggest banks—First Bank, Access Bank, Guaranty Trust Bank and Zenith Bank—have achieved a market capitalisation of at least N1 Trillion each on NGX,… dlvr.it/T1BSvN

Is your bank in the Trillion Naira club?👀 techcabal.com/2024/01/10/nig…

If you bank with Guaranty Trust , Access Bank Plc , UBA Group , FirstBank Nigeria or Zenith Bank you should have woken up happy [and richer] this morning, possibly in thousands [or millions]. techcabal.com/2024/01/10/nig…

Exclusive: “One or two” tech startups may list on the NGX tech board this year with rule changes imminent: “We are hopeful to see one or two listings this year,” Jude Chiemeka, Executive Director of Capital Markets at NGX, told TechCabal over a call. dlvr.it/T1BkwJ

Exclusive from TechCabal: Nigeria's stock exchange is changing rules in the hopes that it will smoothen the road for "One or two tech companies" to list on the bourse this year. techcabal.com/2024/01/10/ngx… If you caught Joseph Olaoluwa's Next Wave edition last week, you were ahead

Iyin Aboyeji, founder of Future Africa, a Lagos-based VC firm, believes that listing on the NGX tech board “is a far more realistic exit strategy for startups” rather than waiting for secondary exits from global investors.

CBN sacks board of four Nigerian banks weeks after Emefiele probe: The Central Bank of Nigeria (CBN) has sacked the board of directors of four banks: Keystone Bank, Polaris Bank, Union Bank and Titan Trust Bank, in a meeting at Abuja, the nation's… dlvr.it/T1CgPv

I have a public relations joke, but there's an embargo on it.

Nigerian Banking shakeup: Oni, Imam, Akintola take over Union, Polaris and Keystone Bank after CBN intervention. techcabal.com/2024/01/11/nig… TechCabal has the update.

Share price of Egyptian mobility company, Swvl has topped $6.25, its highest level in the last 12 months. Investors are reacting to the company's recent financial statements where Swvl posted its first annual net profit and a healthy financial situation. techcabal.com/2024/01/05/swv…

Exclusive: How Africa-focused VCs are turning to secondary markets for liquidity lifelines: One early-stage pan-African VC firm returned its first fund, a $5 million micro-fund, after it sold part of its Moniepoint shares in a secondary transaction,… dlvr.it/T1HdG0

When Kuda Bank closed its $55 million investment co-led by Valar Ventures and Target Global in 2021, secondary sales by existing early investors made up part of the deal, one person with knowledge of the matter told TechCabal, requesting anonymity.

techcabal.com/2024/01/12/afr…

Exclusive: How Africa-focused VCs are turning to secondary markets for liquidity lifelines techcabal.com/2024/01/12/afr…

Africa’s startup ecosystem has long faced an exit problem. There have been 2,971 venture deals since 2019, but only 143 exits. Faced with limited opportunities to recoup their investment, investors have turned to secondary share sales to collect profits. techcabal.com/2024/01/12/afr…

Another sign of Africa's startup ecosystem maturing! Early secondaries might not return the 50-100x target outcomes for large funds but for angels and micro-VCs, a 10x, 20x distribution is a pretty incredible income - and of course, it's cash in the bank. Great insights from