Interswitch, Nigeria’s biggest fintech / electronic payments company, has just become the sector’s first unicorn
. The company announced that global payment giant Visa will purchase 20% of the company for $200 million, thus valuing the 17 year old company at $1 billion.
What a time to be alive!
No Talk Pass Yourself
The Nigerian Senate in their eminence and wisdom have recommended a bill which would see any culprit of any form of hate speech
be punished via death by hanging if convicted. (Wild we know.
The bill passed its first reading on Tuesday which will establish another infamous agency, the National Commission for the Prohibition of Hate Speech. Nigeria has an agency for literally everything. (Talk about over-bloated government and debt spirals don’t seem to matter).
Who is the spearhead of this brilliance and innovation? Senator Abdullahi Sabi Aliyu of Niger North.
A Tale of Two Jacks
Two tech billionaires named Jack (Jack Dorsey of Twitter/Square Space and Jack Ma of Alibaba) visited Nigeria during the same week which was pretty cool.
While we do not think external validation is all that, it is warming to see that the Nigerian technology scene is getting the recognition it deserves on an international scale.
Show Me The Moneyyyy
Africa-focused payment startup PalmPay
in Nigeria after raising a $40 million seed round led by China based Transsion
Holdings, Africa’s largest phone-makers.
Nigeria Loves A Ban
Abuja, Nigeria’s capital city, has announced a ban
on Kekes (tricycles more commonly known as Tuk-Tuks across most of Asia). Does this mean that the city has been able to figure out mass transit? Will citizens have an easier and safer commute to work rendering the kekes obsolete?
No on both counts (yay!)