For a startup that once promised to rewire fast-moving consumer goods distribution across southwest Nigeria, the footage has drawn renewed attention to mounting questions about the company’s viability.
Zedcrest Group, through its venture arm, Zedcrest Capital, which led the $10 million pre-seed round two years ago, retains a minority interest but exercises strategic oversight.
According to FSCA statements, Banxso reportedly contacted clients, implying that its FSP license had been reinstated and that it could legally resume trading activities.
The termination marks a significant shift in Jumia’s strategic direction, allowing the company greater flexibility to work with multiple financial service providers.
Gregory Johnson, co-founder of mPharma, left behind a promising career at Google to return to Africa and confront the challenges in healthcare head-on.
This marks the fourth develoPPP Ventures cohort in Ghana, reflecting BMZ’s ongoing commitment to fostering local innovation and sustainable economic growth in emerging markets.
The fund, announced at the Future Investment Initiative summit in Saudi Arabia, will focus on key startup hubs across Africa, including South Africa, Nigeria, Kenya, Ivory Coast, and Egypt.
For a startup that once promised to rewire fast-moving consumer goods distribution across southwest Nigeria, the footage has drawn renewed attention to mounting questions about the company’s viability.
Across 29 disclosed deals, African startups and growth-stage companies raised at least $340.5m in February. The number tells one story. How the money moved tells a different one.
