Olumide Soyombo

African creator monetization platform Twiva has secured an investment from Sony Innovation Fundcapital arm of @Sony Group Corporation. According to Twiva, the funding will support their expansion, AI-driven tools, and financial solutions like Twiva Pay, which facilitates payments for content creators. The start-up, which operates at the intersection of social commerce, influencer marketing, and fintech, offers monetization opportunities through its branded house model. They were part of the latest Safaricom PLC Spark Accelerator.

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If you’re a Product Manager or Builder thinking of transitioning into the fintech space, read this. 📍 You can't talk about the Nigerian fintech industry without mentioning NIBSS (Nigeria Inter-Bank Settlement System). Whether it’s payment processing, fund transfers, or even fintech infrastructure one way or the other, your product will directly or indirectly rely on NIBSS. Which is why a while back, I wrote an article breaking it all down: ➡️ The history of NIBSS ➡️ Their major product offerings and what you need to know about them ➡️ Best practices for how product managers and fintech enthusiasts can build scalable, secure, and user-friendly solutions using NIBSS services. Read the article here → https://lnkd.in/diK-zGi7 Also, tomorrow, I’ll be sharing: ✅ Some courses (with certificates) that’ll help you understand how Nigeria’s fintech space works. ✅ A fintech community I highly recommend checking out if you want to grow and stay informed. 📌 Save this post or Repost it for someone in your network who might need this. Stay tuned for tomorrow’s resources! 🌟

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Here’s the advice I’m glad I never took when I was building Rayda early on: Become a fintech. It might seem counter-intuitive, especially coming from an African founder. Capital is scarce in Africa, so lending or supply chain financing startups are solving a huge problem. A common saying in the African tech ecosystem is every startup, eventually, turns into a fintech. Not to mention fintech attracts investors. Fintech funding has grown a bonkers 166% this year. In 2023, when I was grinding away on my first Rayda prototype, I dabbled in financing. Our SME and startup customers in Nigeria asked if we could provide asset leasing and financing for laptops and other IT devices. Capital is hard to come by, so it seemed like a no brainer. But, I put my foot down when some asked us to start financing vehicles and other business fixed assets which we didn’t sell. We were strictly into providing IT equipment. At the same time, some investor friends said I should turn Rayda into an asset financing business. But, I said no — to both customers and investors. It helped me clarify three things for the business: 1️⃣ I wanted to be the direct vendor to control the transaction. Some of our early consumers asked us to finance non-IT equipment. That meant I wouldn’t be the direct vendor. Just a lender. I could make a small margin, but I was exposed to A LOT of risk – on both the customer and vendor sides. Profiling users for default risk is tricky, especially in Nigeria. But the vendor could also be fake. 2️⃣ I wanted to add value by playing a key role in the asset journey. Had I gotten into financing vehicles or other business equipments, I’d have cut myself off from the asset’s lifecycle (from buying to managing to disposing). I wouldn’t have any insights into what happened when a startup bought laptops for its employees from buying to disposing of them. Early on, I knew I wanted to play a role there. 3️⃣ I didn’t want to be constantly fundraising. Lending requires a big balance sheet. I didn’t want to be constantly on the fundraising trail to fund a loan book. I've done that rodeo before. I wasn’t eager to do it again. The deeper insights you have into the problem you’re solving, the more conviction you have on the business you’re building. #DeepConvictions

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With a population of over 250 million and a dynamic economy approaching half a trillion dollars—especially on days when the Naira is strong—Nigeria is poised to become Africa’s leading tech hub. The country offers a unique opportunity for digital transformation at scale, driven by a resilient entrepreneurial spirit, a growing pool of English-speaking tech talent, returning diaspora professionals, and an increasing upwardly mobile middle class. At British International Investment (BII), we’re proud to be part of this journey. Our growing $800 million portfolio includes investments across the tech spectrum—from data centres and fintech platforms like Moniepoint Nigeria, to digital marketplaces such as TradeDepot. We also back local venture funds including Ventures Platform Fund and Aruwa Capital Management, among many others. In this context, it was a real privilege to join a panel discussion on Unlocking Nigeria’s Digital Economic Potential, alongside H.E. Dr Jumoke Oduwole Oduwole, Nigeria’s Minister of Industry, Trade and Investment; Ambassador Mohammad Maidugu; Ben Ainsley (Deputy Trade Commissioner - Africa, Department for Business and Trade); Nicola Watkinson (Managing Director, International, TheCityUK); and Lola Aworanti-Ekugo (CEO, Afriborder). We explored key developments in digital trade, the importance of frictionless commerce, and the infrastructure needed to support intra-African growth. The conversation highlighted the immense potential of Nigeria’s digital economy and the collaborative efforts required to unlock it. 📺 Watch the full session here:https://lnkd.in/dErr-kH8

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Kenyan startup DigiTax is making major strides in expanding across the continent and has just secured technical approval to operate in Nigeria’s digital tax ecosystem. DigiTax’s software directly links business invoicing systems to tax authorities’ platforms for seamless, real-time tax compliance, a game-changer for enterprises navigating complex regulations in West Africa! 🇰🇪➡️🇳🇬 This move places DigiTax among the select group of innovative Kenyan startups breaking into Nigeria’s lucrative market, joining the likes of Cellulant, known for its digital payments platform serving thousands of businesses across Nigeria, and Workpay, the Nairobi-based payroll and HR management powerhouse that helps Nigerian SMEs manage salaries, compliance, and HR processes efficiently. DigiTax is already a leading player in Kenya and Zambia and now adds Nigeria as its third active market, playing a part in shaping West Africa’s digital transformation. As African tax systems become increasingly digital and compliance-driven, DigiTax’s cross-border tax tech helps businesses stay ahead of mandates, cut complexity, and unlock growth. Ready to dive deeper into the Pan-African innovation wave? 🌍 👉 Read the full story and more on the #AliTalksTech Newsletter: [https://lnkd.in/dd_Y5uuk]

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I'm excited to share my latest project - the CBN MCP Server! 🚀 As someone diving into the world of AI tool development, this has been an incredible learning experience. What is the CBN MCP Server? This is a comprehensive Model Context Protocol (MCP) server that provides seamless access to Central Bank of Nigeria (CBN) data directly within AI conversations. Built with Dart and my own mcp_server_dart framework (https://lnkd.in/dVznkcFC), it connects Cursor, Claude Desktop, and any MCP-compatible application to official CBN regulatory information. Complete Feature Set: - Exchange Rates Tools 💱 Real-time access to official CBN forex rates with advanced filtering by currency and date ranges - Financial Data Tools 📊 Comprehensive monetary policy data including repo rates, cash reserve ratios, opening balances, and historical trends - Circular Analysis 🤖 Full circular retrieval system with PDF access, advanced search, and LLM-optimized formatting for AI analysis - MCP Resources 📚 Random CBN facts, available circular PDFs catalog, and API status monitoring Tools: - Dart: for robust, type-safe development - MCP Server Dart framework (which I created) for seamless MCP integration Real-World Impact: In today's AI-driven financial landscape, having authoritative data accessible within conversational interfaces is crucial. This server enables: - Instant regulatory research and compliance checks - Real-time financial data analysis and modeling - Automated monitoring of monetary policy changes - Enhanced decision-making for financial institutions and researchers Get Started Available on GitHub: https://lnkd.in/dMMs_DSY Installation options: - Download pre-built executable - Run with Dart SDK - Build from source

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We just signed a partnership that will shape the future of AI in Nigeria. Elite Global AI, AI Women Rising, and the Edo State Ministry of Education are joining forces to train 1,000 secondary school girls in AI. This isn’t just another program. It’s the start of a movement: → Equipping young women with future-ready AI skills → Closing gender gaps in technology → Building Nigeria into a truly AI-savvy nation Here’s why this matters: ✅ Public–private partnerships can drive growth ✅ AI training is no longer a luxury,  it’s a necessity ✅ This model will expand across 100+ universities and states in Nigeria This is how we move from just talking about potential to making progress. The future is AI. The future is Africa. Have a great week!

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🌍 CyberNews Monday with Cybertalkswithjojo 🚨 From Cybersecurity in Nigeria’s classrooms to Jaguar Land Rover’s crippling cyber breach, this week’s stories remind us that cybersecurity touches education, business, and even national policy. 📌 Gmail users urged to reset passwords — Google confirmed a security scare requiring urgent resets, reminding us how vulnerable email accounts remain. 👉 https://lnkd.in/dkhtJAWp 📌 U.S. government seizes cybercrime marketplaces — Law enforcement shut down illegal online hubs where stolen data and hacking tools were being sold. 👉 https://lnkd.in/dvWyJkGB 📌 Nigeria introduces AI, robotics & cybersecurity into schools — A huge regulatory step, but the timeline raises questions: can we really afford to wait until 2026? 👉 https://lnkd.in/d4ArCc_i 📌 Jaguar Land Rover halts production after cyberattack — Production across UK and India disrupted, showing the global ripple effect of ransomware on supply chains. 👉 https://lnkd.in/dXYGzFgH 📌 FG signs MoU with Kaspersky on cybersecurity — Strengthening national defenses in the face of rising threats. 👉 https://lnkd.in/dxs6bHKK 📌 (ISC)² launches new DFIR certificate — Designed to close the skill gap in Digital Forensics & Incident Response (DFIR). 👉 https://lnkd.in/di_wRzER 📌 CBN creates a Compliance Department — To oversee anti-money laundering and cybersecurity in Nigeria’s financial sector. 👉 https://lnkd.in/d2b9ev2t Cybercriminals didn’t take a holiday in August, and clearly September won’t be any different 😅. 👉 Which of these headlines surprised you the most? And more importantly, what lessons do you think businesses or individuals should take away from it? Let’s talk. Here’s to a new month of awareness, growth, and resilience. 🌍🔐 #CyberNewsMonday #CyberTalkswithJojo #Cybersecurity #DataBreach #Cybercrime #Nigeria #AI #Kaspersky #DFIR #CBN #JaguarLandRover

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Real Problems, Real Builders, Real Progress ➖ that’s the Africa Fintech Story and more people need to hear and see it! If global capital knew the real cost of overlooking Africa’s builders, it would invest differently (or at least that’s what I hope)…… On this week’s Couchonomics with Arjun , I’m joined by Yustus Aribariho MBA, Co‑Founder of Furaha Financial, to explore why Africa’s fintech boom still struggles to attract the scale of capital it deserves - and why that’s a missed economic strategy, not just a missed deal —————— Here’s the reality check in numbers: ❌ Funding is tight while usage explodes. African startup funding in 2024 came in at US$3.2B (equity + debt)- down on prior years as global VC tightened ✅ Meanwhile, mobile money processed US$1.68 trillion in 2024 across ~108 billion transactions. The pipes are busy; the capital pipes aren’t 🤷🏽‍♂️ ❌ Cost of moving money is still too high. Sending remittances into Sub‑Saharan Africa cost ~8.78% on average in Q1‑2025 an unnecessary tax on families and small businesses that policy can help fix ✅ Demographics are destiny - if funded. Nearly 60% of Africa’s people are under 25. Talent isn’t the bottleneck; corridors and capital are 🤷🏽‍♂️ —————— Furaha’s mission is simple but powerful and foundational: 🌍 Education & household loans for underserved families 💡 Fintech‑driven access to affordable credit 🤝 Backed by SC Ventures by Standard Chartered (the bank’s innovation arm) Why I’m excited about this venture: education finance compounds fees paid on time → attendance → attainment → productivity gains for decades. Their impact is not another “feature”; it’s nation‑building! —————— What Yustus and I got into: 💸 Why global investors still hesitate to back African fintech at scale—and what blended/local‑currency capital could unlock 📱 What mobile money really teaches us about infrastructure‑led innovation, not app‑led hype 🏦 How regulatory hurdles and repatriation slow capital movement—and what sandboxes and clear FX rules can fix 👥 Why youth and human capital may be Africa’s strongest export over the next decade This isn’t just about Africa. It’s about the next chapter of financial inclusion, capital flows, and innovation worldwide and the foundational sectors (like education) that amplify everything else 👉 Don’t just watch Africa’s story unfold—learn why you should be part of it —————— 🎧 Episode now live on YouTube Spotify & Apple Podcasts Thanks to our Season 4 partners: Adyen Mastercard Thunes Digit9 SC Ventures by Standard Chartered HALA #CouchonomicsWithArjun #Africa #FinancialInclusion #FutureOfFinance #Furaha Ian | Alex | Gautam | Asmik | Dmitri | Panagiotis | Efi | Kelvin | Dr | Tristan | Ali | Marcel | Linas | David | Tammer | Gozde | Sepo | Sitoyo | Mohammed | Varlam

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In this video, I break down how Africa can move beyond the hype to unlock real value from Web3 by: ✅ Grounding adoption in real-world needs that solve for people and businesses. ✅ Building strong infrastructure that ensures accessibility and scale. ✅ Learning from global models while creating homegrown solutions. ✅ Shaping regulations that empower innovation instead of stifling it. Africa’s opportunity is not just to join the Web3 movement—it’s to lead it, responsibly and sustainably. 💡 What are your thoughts on the right path for Web3 adoption across the continent?

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