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News
Nigeria Gives Banks Deadline To Bring Payment Data Home & Make USD 850 M Cloud Spending Local
5+ hour, 11+ min ago (586+ words) On paper, Nigeria’s ten largest banks look like they’re investing heavily in their future. They spent NGN 177.91 B (~USD 130 M) on technology in the first quarter of 2026 alone, up nearly 31% from the same period last year. But a substantial chunk…...
Moniepoint Acquires Kenya’s Sumac Bank To Expand East Africa Push
4+ mon, 1+ week ago (173+ words) Nigerian fintech unicorn Moniepoint Inc. has acquired a controlling stake in Kenya’s Sumac Microfinance Bank, securing a long-sought entry into East Africa’s largest economy. The deal grants Moniepoint a deposit-taking license, critical to its credit-led growth strategy, and allows it…...