Filings from the Nigerian fintech unicorn disclose heavy spending on salaries and fees to pave the way for its acquisition of a regulated British payments firm.
While other regional African fintechs struggle with profitability, Central Africa's mobile money ecosystem processed 3.5 billion transactions in 2023. The backbone? Nearly half a million street-level agents converting cash into digital currency.
The dual role reflects an emerging pattern in African venture capital, where founders leverage operational expertise whilst pursuing investment opportunities.
The South African edtech startup recently won a restraint of trade case against a senior exec who claimed his new 'Co-Founder' title at a competitor was just an 'honorarium'.