Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week. 1 Federal Council initiates consultation on ordinance on climate reporting At its meeting on 30 March 2022, the Federal Council initiated the consultation on the implementing ordinance on climate reporting for large…
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In Nigeria, there are more than 40 million micro-businesses underserved in some form or another regarding banking services. Although some of these businesses have registered bank accounts, gaps exist in how banks use the data available to serve the needs of each business. With banks, presenting a series of transactions as statements is all these businesses…
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Several users from Zambia have taken to Twitter, informing the general public that WhatsApp has been restricted in the country amidst ongoing general elections holding today. The president and parliamentary elections are heralded by a face-off between current President Edgar Lungu and opposition Hakainde Hichilema. Internet monitoring organization Netblocks further corroborated these reports adding that…
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Nigeria’s less than two-decade-old ecosystem is evolving fast. But behind the funding and legitimate hype, there’s without a doubt plenty of learning that needs to be done in running a startup. In retrospect, founders in Nigeria do tremendous work when you consider the kind of harsh market they operate in. They are deserving of all…
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In Africa, chartering vessels and processing ocean freight can be challenging. The sector is largely inefficient and fragmented. Merchants also struggle to access finance to perform cross-border trade in the continent. A couple of digital freight companies are tackling this problem, like Nigerian-based MVX. The company today is announcing its $1.3 million seed round to…
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Here is our pick of the 3 most important XBRL news stories from the last week. 1 Major European trends for reporting Whether it’s the upcoming mandatory ESG disclosures or increased scrutiny reflected in data granularity, the road leading up to 2022 (and beyond) is a challenging one. In a financial world that is so…
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The pandemic’s effect on the global app market has not been hard to miss. In the first quarter and first half of this year, consumer spending in mobile apps hit new records at $32 billion and $64.9 billion, respectively. In Africa, it can be tough to call out exact numbers on consumer spending because the…
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On June 18, Babajide Duroshola, ex-Country Head, SafeBoda Nigeria, stepped down from his role two years after taking the job post-Andela. Less than a month later, the executive has found a new role as General Manager in another Kenyan company, M-KOPA. His appointment coincides with M-KOPA’s broader expansion strategy, which includes a move to Nigeria.…
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Neobanks have led the charge as regards venture capital funding for consumer fintech startups. But while they have collectively dominated the fintech space, they don’t operate a monolithic model. There are five distinct models, and the one adopted by Nubank, the $30 billion behemoth, is the credit-led model. Neobanks operating this model start by offering…
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Today, former President Donald Trump issued a statement supporting the Nigerian government’s decision to suspend Twitter activities in the West African country. “Congratulations to the country of Nigeria, who just banned Twitter because they banned their President,” he said in the statement. The ex-President also encouraged other countries to follow in Nigeria’s footsteps and ban…
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