• About
  • Advertise
  • Careers
  • Contact Us
Sunday, June 22, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Business StartUPs

Okra Expands into Cloud Services, Targeting African Startups

by Joan Aimuengheuwa
July 9, 2024
in StartUPs
0
Okra Expands into Cloud Services, Targeting African Startups
Okra

Okra

UBA
Advertisements

Nigerian fintech company Okra, having raised $16.5 million in funding so far, is expanding its operations into cloud infrastructure.

Backed by TLcom, Okra aims to provide a cost-effective and reliable alternative to foreign cloud providers like AWS and Azure. 

This expansion comes as local startups seek to cut costs due to the rising inflation and high interest rates. 

Okra’s latest development is a change from its original focus on providing APIs that allow banks and financial service providers to access customer data. With this new cloud infrastructure, Okra seeks to support businesses in hosting data and running workloads efficiently. 

This expansion places Okra among a growing group of local cloud service providers in Nigeria, including Nobus Cloud Services, MainOne Cloud, Web4Africa, Galaxy Backbone, and Layer3 Cloud. 

These companies are rising to meet the demands of startups, large businesses, and government agencies looking for reliable cloud solutions.

Okra’s initial focus on open finance, where its APIs enabled third-party financial service providers to responsibly access bank information, faced challenges due to a relatively small market and significant competition. 

The fintech sector in Nigeria is also influenced by the Central Bank’s open banking regulations, adopted in March 2024. However, the absence of common data-sharing standards has limited the market for open finance APIs. Despite these challenges, Okra has been working to standardize banks’ APIs to improve the reliability of its services.

Okra is addressing the growing needs of Nigerian startups and other businesses for affordable and dependable cloud solutions.

Loading

Advertisements
MTN ADS

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: African startupsCloud servicesOkraTLcom
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
Caspar Herzberg, CEO of AVEVA Sustainability Report | Archaea Energy

AVEVA Unveils Key Learnings from its 2023 Sustainability Progress Report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Kagiso Khaole Appointed as New GM for Uber SSA

3 years ago
NiRA Wins NACOS Internet Enabler Award

NiRA Wins NACOS Internet Enabler Award

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.