US banks may meet with Nigerian startups - operators

The closure of the United States-based Silicon Valley Bank, the bank of choice for many venture capitalists and startups, may affect Nigerian startups according to industry players. On Wednesday, March 8, SVB surprised investors with news that it was seeking to raise $2.25bn to maintain liquidity. Within the next couple of hours, a bank run occurred after VCs advised their startups to withdraw…
Read more

Technology startup providing applications for business solutions.

Wynk Limited, a tech startup firm, has unveiled its lifestyle App, “The Wynk Lifestyle Super App” with the aim of making life easier through providing solutions to diverse economic needs. The firm, in a statement, said the app is a cost-effective solution to everyday challenges ranging from financial services and fintech, domestic and cross-border payments, healthcare services delivery…
Read more

According to reports, Chipper Cash has laid off 140 employees.

Chipper Cash, an African startup cross-border payments company, reportedly laid off 140 employees, or more than a third of its workforce. Although 15% of those impacted are Nigerians, the layoffs affected workers from IT, engineering leadership, engineers, technical programme managers, and analysts. This move follows a prior 13% personnel reduction in December 2022, when 50 employees from the…
Read more

Nigerian startup wins $300,000 prize in Saudi Arabia.

Two Nigerian startups received $300,000 after attending the 2nd LEAP Technology Expo in Riyadh, Saudi Arabia. Two startups are RiceAfrika Technologies and Wicrypt Technologies. They became winners in various categories of the rocket fuel competition, which was attended by Professor Isa Pantami, Minister of Communications and Digital Economy. More than 10,000 startups from different countries have…
Read more