Windows26: 💸 Flutterwave Receives President Tinubu’s Support for NGX Listing

February 24, 2025 | Read Online

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💸Flutterwave Receives President Tinubu's Support for NGX Listing
🛜 Nigeria exceeds 1 million terabytes of internet consumption for the first time
🛜 Starlink becomes Nigeria's second-largest ISP as subscriber base surges
🪙 Hackers execute record-breaking $1.5 billion heist on crypto exchange Bybit
🐄 Ethiopia secures $600 million investment for dairy and commercial farming initiative

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💸 PAYMENTS

Flutterwave Receives President Tinubu's Support for NGX Listing

Flutterwave, a leading payment giant, has sought and received President Bola Ahmed Tinubu's support for its upcoming listing on the Nigerian Exchange (NGX). The company's leadership, during a meeting in Abuja, highlighted its impact on Nigeria's digital economy and plans for local and global expansion.

Led by CEO Olugbenga Agboola, alongside co-founder Adeleke Adekoya and executives Oluwabankole Falade and Mitesh Popat, Flutterwave's delegation highlighted the company's journey since its inception a decade ago.

During the meeting, CEO Olugbenga Agboola emphasized Flutterwave's pivotal role in facilitating digital payments across Nigeria, Africa, and beyond. The company enables Nigerians to pay for global services using Naira and provides seamless platforms for Nigerians in the diaspora to remit money home. With operations in 33 countries, including the United States, Canada, Kenya, Ghana, and South Africa, Flutterwave is valued at over $3 billion and employs more than 1,000 Nigerians.

Agboola stated that the company's next milestone is to list on the Nigerian Exchange, marking a significant step in its growth trajectory. He appealed to President Tinubu for government support to facilitate this listing, which would enhance Flutterwave's visibility and attract more investors while reinforcing Nigeria's position as a hub for fintech innovation.........…continue reading

🛜 INTERNET

Nigeria exceeds 1 million terabytes of internet consumption for the first time

In January 2025, Nigeria achieved a significant milestone in its digital landscape as internet consumption surpassed 1 million terabytes for the first time since the Nigerian Communications Commission (NCC) began monitoring data usage in January 2023. This remarkable achievement underscores the country's growing dependence on digital connectivity and the escalating demand for internet services among its population.

However, despite reaching this historic benchmark, the total data consumption for January 2025 was recorded at 27,475 terabytes, representing a notable decline from the 94,502 terabytes consumed in December 2024. The measurement of internet consumption in terabytes (TB) reflects the volume of data transmitted or received over a network, with 1 terabyte equating to 1,000 gigabytes (GB) or 1,000,000 megabytes (MB). This metric is commonly utilized by telecommunications providers to monitor high data usage, particularly among businesses, streaming services, and gamers........…continue reading

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🛜 INTERNET

Starlink becomes Nigeria's second-largest ISP as subscriber base surges

Elon Musk's internet venture, Starlink, has rapidly ascended to become Nigeria's second-largest Internet Service Provider (ISP) by subscriber count as of the third quarter of 2024. This significant development was highlighted in the latest data released by the Nigerian Communications Commission (NCC).

According to the NCC's report, Starlink's active customer base in Nigeria surged to 65,564 by the end of Q3 2024, surpassing FiberOne, which previously held the second position in terms of subscriber numbers. In December 2023, Starlink had reported only 23,897 customers, ranking it as the third-largest ISP at that time. The latest figures indicate that Starlink added an impressive 41,667 new subscribers within the first nine months of the year..........…continue reading

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🪙 CRYPTOCURRENCY

Hackers execute record-breaking $1.5 billion heist on crypto exchange Bybit

In a staggering incident that has sent shockwaves through the cryptocurrency community, hackers have successfully stolen approximately $1.5 billion worth of crypto tokens from Bybit, a prominent digital asset exchange. This breach has been characterized by Bybit's chief executive, Ben Zhou, as the most significant theft the industry has ever experienced.

The breach specifically involved the theft of Ethereum coins from Bybit's offline storage, commonly referred to as a "cold" wallet. In a statement shared on the social media platform X, Zhou disclosed the details of the incident, emphasizing the unprecedented scale of the hack. "As far as we know, this could be the largest hack in the history of our industry," he remarked during a subsequent live-stream update.

In the aftermath of the theft, there was a noticeable surge in withdrawal requests from users eager to secure their assets. However, Zhou noted that this frantic activity has since begun to taper off. To address the situation, Bybit is seeking a bridge loan from its partners, with the assurance that the exchange will compensate users for any coins that cannot be recovered.......…continue reading

🐄 FOOD PRODUCTION

Ethiopia secures $600 million investment for dairy and commercial farming initiative

Ethiopia's agricultural sector is set to undergo a significant transformation with the recent establishment of a shareholders' agreement between the Ethiopian Agricultural Businesses Corporation (EABC), Ethiopian Investment Holdings (EIH), and UK-based private equity firm Asset Green. This ambitious initiative, valued at $600 million, aims to enhance the nation's food production capabilities and stimulate economic growth through a comprehensive dairy and crop farming project.

Under the terms of the agreement, ownership stakes are clearly defined: Asset Green will hold a majority share of 51%, EABC will possess 25%, and EIH will control the remaining 24%. This strategic partnership is designed to leverage the unique strengths of each entity, facilitating the modernization and expansion of Ethiopia's agribusiness landscape.......…continue reading

OPPORTUNITIES

Applications are now open for the latest edition of the Tony Elumelu Entrepreneurship Programme (TEEP), designed to support startups through comprehensive training, mentorship, and a funding opportunity of US$5,000 Deadline = 1st Mar 2025……..continue reading
Global payment card network Visa has announced the opening of applications for the fourth edition of its biannual Africa Fintech Accelerator. Deadline = 15th March 2025…….continue reading

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Rowland Osahon
Innovation Village