Employees joined a video call with senior executives on Wednesday, March 25, where many learned their roles had been terminated. The cuts affected several departments, according to people familiar with the process and internal documents.

In a response sent on Friday, a company spokesperson said: “Kuda is evolving how the organisation is structured to support the next phase of our growth and scale. This is not a decision driven by financial pressure, but part of the natural evolution of a company at our stage, aligning with industry benchmarks.”

Executives told staff the decision was not tied to individual performance. Instead, they said it followed a strategic review that looked at long-term priorities and how the company compares with others in the sector.

“As part of this process, some roles across the business have been impacted. We know this is difficult, and these were not decisions we took lightly,” the spokesperson added.

“We are supporting those affected with enhanced severance packages and practical transition support, while staying focused on serving our customers and continuing our long-term growth.”

Inside the company, the announcement did not land smoothly, as some employees found it difficult to join the initial call after the meeting link failed.

When it finally started, executives confirmed the layoffs without much detail, leaving questions about how decisions were made.

One internal document sent to affected staff read: “Following a strategic review of future operational priorities, industry benchmarking, and long-term direction, the Company has identified the need to restructure and reorganise certain departments.”

The impact affected some teams more. Nineteen out of forty employees in the marketing unit were affected, according to two people who said they were part of the process.

Kuda has offered severance packages that differ by role and length of service. Some employees expect payouts of up to seven months’ salary and the company is also proposing an enhanced exit option tied to a settlement agreement.

Part of the notice states: “The enhanced severance payment would be conditional upon you entering into a legally binding settlement agreement… [and] agree not to bring any claims.”

The layoffs come at a time when the company’s financial position has been improving. Losses dropped from $35.11 million in 2023 to $5.83 million in 2024. Revenue from its Nigerian unit nearly doubled to ₦21.2 billion, while operating costs fell.

At the same time, activity on the platform has grown. Kuda processed transactions worth ₦14.3 trillion in 2025, more than in its first five years combined. It also issued ₦16.4 billion in overdrafts, a 43% increase over the previous quarter.

Even so, the environment for fintech firms has changed. Funding into African fintech dropped by more than half in 2024 compared with the peak years of 2021 and 2022.

Investors now want clear profit, not just rapid customer growth. Kuda’s $20 million raise in 2024, at a $500 million valuation, shows that change in direction.

Across the industry, others are making similar moves. Companies such as OPay and Moniepoint have adjusted their teams in recent months, while Flutterwave has faced regulatory issues in key markets.

At the same time, oversight from the Central Bank of Nigeria and foreign exchange limitations continue to weigh on margins.

Kuda, which has about seven million customers, is also dealing with stronger competition from traditional banks expanding their digital services.

As it stands, Kuda Bank says the restructuring is about positioning for growth. Inside the business, however, the sudden nature of the cuts has left many employees trying to make sense of what comes next.

Bringing structure and record-keeping to a system millions of Nigerians already use to meet daily financial needs, Thrifto is leveraging technology to enhance the process.

Across the country, people pool money together in rotating cycles and members contribute a fixed amount regularly, while the full sum goes to one participant at a time.

The system is still popular because it is simple and built on trust. However, problems like disagreements over payouts, poor record-keeping and missed contributions sometimes disrupt these groups. In some cases, people even lose their money.

To put an end to these, Thrifto has launched a web application that allows people to create and manage savings groups online.

Users can set contribution amounts, choose payout positions and agree on the duration of the savings cycle. The platform then keeps track of payments and schedules payouts for members.

The idea, according to founder Sulaimon Biodun Durojaiye, is not to replace the long-standing culture of cooperative savings but to make it more reliable.

“Group savings is deeply embedded in Nigerian culture,” he explains. “What we are doing with Thrifto is providing the structure, transparency, and accountability that technology can offer while preserving the collaborative spirit of ajo.”

The platform has already begun onboarding users across Nigeria. Many of the early participants include salary earners, small business owners and entrepreneurs who organise savings groups with colleagues, relatives and friends.

These groups usually save towards achievable goals. Some plan ahead for rent payments or school fees, others raise funds for business expansion or household purchases.

Digital records are also embedded in the platform. Each contribution is logged, and members can see the progress of their group in real time. This approach aims to reduce the disputes that often arise when records are kept informally.

Thrifto is also preparing another feature aimed at individuals who prefer saving alone.

The company plans to introduce a self-saving option next week. It will allow users to create structured personal savings plans and contribute at set intervals. Someone, for example, could choose to save ₦5,000 daily for a month or ₦50,000 every week over several months.

The platform will track the contributions and show progress towards the user’s target.

Durojaiye says the feature addresses a common problem many people face. “Many people want to save but struggle with consistency,” he says. “By allowing users to define their own saving rhythm, daily, weekly, or monthly, we’re helping them build financial discipline in a practical way.”

Another part of the system focuses on trust. Thrifto assigns each participant a Trust Score based on their activity and reliability within savings groups. Members who keep up with their contributions can build stronger ratings over time. The company says this record can help users decide who to partner with when forming new groups.

Rather than introducing a new financial habit, the platform builds on one Nigerians already know well.

Group savings have long served communities that lack easy access to formal banking. In moving the process online, Thrifto hopes to reduce disputes, improve accountability and bring more structure to a system that has operated informally for generations.

If platforms like this gain wider acceptance, they could also open a new path to financial inclusion for millions who still rely on cooperative savings to manage their money.

The event took place on Friday at the company’s headquarters in Victoria Island where senior executives, brand leads and agency partners attended, alongside journalists and content creators.

The advert premiere also outlined a wider marketing drive across television, radio, digital and outdoor platforms. Cherry Eromosele, executive vice-president for Marketing and Communications at Interswitch, said the campaign reiterates the company’s belief that payments should work seamlessly in the background of daily life.

“At Interswitch, we have always believed that payment should be a seamless part of everyday life, and therefore our brands Verve and Quickteller reflect this philosophy every day,” she said.

She described Quickteller as a platform built for people who take action. “The mindset of the Quickteller customer is that of a go-getter. The typical Quickteller customer doesn’t sit and wait for things to happen to them. They run it.”

The new Quickteller commercial centres on that message. It shows everyday situations where people move quickly, solve problems and keep going. Bills get paid, transfers go through, and opportunities are taken without delay. The campaign theme is “Run It!”.

Eromosele said the advert salutes what she called the “can do spirit” of African consumers and shows how the platform supports transactions “at the speed of topped for our users across multiple transaction channel touch points.”

Alongside Quickteller, Interswitch also introduced a new brand commercial for Verve, its card scheme with more than 100 million cards in circulation across Africa.

“We couldn’t be prouder of how far we’ve come with Verve as a brand,” she said, describing it as “African most successful indigenous Payment Card Scheme.”

The Verve advert focuses on what executives repeatedly called the African spirit.

“So what’s the African spirit? The African spirit is vibrant. It’s beautiful. Is undaunted and focused on enjoying the good life,” she said.

The commercial carries the line, “Verve makes infinite red seamless, because when we show up for each other, that’s when we truly live this is the good life.”

The event stressed that Verve goes beyond payments, pointing to VerveLife, its fitness and wellness platform, which has run for eight years and engages consumers around healthy living.

Chidi Okpala, who leads growth marketing for payment tokens under the Verve brand, said the business has grown by staying close to users.

“In fact, as we speak, we’re looking at about 115 million, and still counting, we have over 80 million active cards as we speak today,” he said, adding that Verve holds between 75 and 80% of Nigeria’s card market.

He linked that growth to feedback from customers. According to him, requests to use Verve cards on platforms such as Google Play and Netflix pushed the company into new partnerships.

“We got feedback like that, I want to be able to transact on Netflix with my record. That feedback we took seriously,” he said.

The event also addressed the creative process behind the campaigns. Tomi Ogunlesi, divisional head for Brands, Communications, Content and CSR, said the adverts were produced locally.

“For us, this was a deliberate creative decision underscoring Interswitch’s belief that African stories are best told by African voices,” he said.

“In an era where artificial intelligence is increasingly used to simulate storytelling, the team chose a different path, eschewing artificial intelligence (AI) in favour of organic, emotionally driven filmmaking that captures real faces, real places, and real emotions!”

The company confirmed that the Verve campaign will run across multiple African markets, while the Quickteller rollout will focus mainly on Nigeria.

Executives noted that Quickteller’s services differ by country, with Nigeria offering a bigger ecosystem that now includes transport bookings, flights, and property listings under Quickteller Homes.

They explained that users can rent apartments, book short lets and even buy land through the platform, adding that properties listed there are verified to reduce fraud.

The Interswitch management said the Quickteller and Verve TV commercials would begin airing in the coming days, stressing that payments should not interrupt life, but should simply work.

Registered organisations can now complete the process via the Kuda Business app, providing their CAC documents and trustee information, and have accounts activated within minutes.

For many of Nigeria’s thousands of NGOs and religious institutions, slow, branch-dependent banking has long hindered the management of donations, grants, and operational expenses. 

The Kuda update promises to simplify these processes, enabling organisations to focus more on their mission and less on administrative bottlenecks.

11 Game-Changing Fintechs Making Cross-Border Payments Faster, Cheaper in 2026

“NGOs and religious organisations are responsible for managing funds that directly impact communities, yet they are often forced to operate with outdated banking processes,” said Nosa Oyegun, SVP Business Banking at Kuda. 

“By enabling incorporated trustees to open Kuda Business accounts entirely online quickly, we’re giving these organisations access to the same modern financial tools built by Kuda that other businesses already use, so they spend less time doing admin work.”

This also allows users to handle incoming donations and grants, make payments, monitor transactions in real time, generate professional account statements for audits, and grant controlled access to trustees, treasurers, and administrators, all within a single app. 

The signup process is designed to meet regulatory standards while reducing manual reviews, speeding up account activation, and improving information accuracy.

The timing of the update coincides with reforms in Nigeria’s financial sector. The Central Bank of Nigeria’s cashless policy imposes charges on high-volume cash withdrawals, affecting organisations that handle large donations. Digital banking solutions like Kuda’s now offer a practical way to avoid these expenses.

In addition, regulatory changes in 2025, including recognition of digital assets under the Investment and Securities Act (ISA) 2025, have strengthened the legal framework for fintechs to safely provide services to sensitive sectors. 

However, despite Nigeria’s position as Africa’s fintech leader, with over 430 fintech firms, millions of organisations are still excluded from digital finance due to infrastructural gaps and low financial literacy. Kuda’s move directly addresses this gap for NGOs and religious groups.

Nonetheless, economic stress, policy resets, and reforms in trade and banking policies have made digital-first, transparent financial tools more essential.

Focusing on incorporated trustees, Kuda is now launching an accounts solution for NGOs and religious organisations seeking speed, efficiency, and compliance in the dynamic regulatory and economic environment.

The Lagos-based startup has moved beyond its roots in community lending to build a regulated financial ecosystem that connects Africa’s informal savings culture with formal banking infrastructure.

The rebrand comes with two key acquisitions, AjoMoney, a digital group-savings platform, and Zazzau Microfinance Bank, which now operates as Rank Microfinance Bank. 

The dual acquisition makes Rank one of the first Nigerian fintechs to merge social trust networks with a regulated framework, enabling it to offer savings, payments, and investment services to communities rather than individuals.

With a Central Bank of Nigeria Tier 2 microfinance licence, Rank can now accept deposits, disburse loans, and offer treasury-backed savings. The company has also integrated with the NIBSS Instant Payment system (NIP), allowing users to send and receive money in real time. 

“We can now go beyond savings to payments,” said Femi Iromini, CEO of Rank. “We can go into investing. And we are seeing the interests already.”

Rank’s first product, a high-yield group savings plan, leverages the power of trusted networks such as traders’ associations and cooperatives. 

In a pilot involving 10,000 participants, the platform delivered over ₦16 billion ($11.25 million) in payouts, with funds invested in treasury bills and money markets generating up to 23% annual returns. 

Participants contributed a minimum of ₦150,000 ($100) each, pooling resources through a system rooted in the familiar “ajo” and “esusu” models of collective savings.

The company’s rebrand from Moni to Rank also aims to digitise Africa’s centuries-old community finance systems and transform them into scalable, wealth-building tools. 

According to Iromini, Rank intends to build beyond savings and loans by introducing payments and investment products that serve the collective strength of communities. 

“We have done the experiment, and we learned a lot,” he said. “There is still more we can do with communities. For instance, we can create products around people being able to make payments together.”

The leadership teams of AjoMoney and Zazzau MFB have now joined Rank, bringing product depth and regulatory experience under one structure.

For Ibrahim Adepoju, CEO of AjoMoney, the partnership represents a natural evolution: “We modernised one of Africa’s oldest financial traditions, rotating savings and credit associations, and brought it into the digital era. Passing this vision to the Rank team is a natural next step.”

Similarly, Mohammed Usman, director at Zazzau Microfinance Bank, said, “The vision of a money app for communities is something that really excites us. We are happy to be part of this journey.”

Rank’s approach distinguishes it from older fintechs like Piggyvest and Cowrywise, which focus on individuals. Instead, Rank is betting on the collective, people who already trust one another and have long practised shared finance. 

“In reality, they are entrusting us with their money,” Iromini said. “Having the right backing when it comes to a license actually helps a lot with that.”

With over ₦67 billion ($46.62 million) in previous loan disbursements and a 96% repayment rate, Rank’s foundation in community trust is solid.

The fintech firm said the figure captured administrative and infrastructure expenses incurred while establishing its UK base in 2024. A look into the financial filings shows that Moniepoint also made a $2.5 million equity deposit for the acquisition of Bancom Europe Ltd, a UK-licensed electronic money institution under the Financial Conduct Authority (FCA).

Moniepoint GB, incorporated in February 2024, did not generate any revenue for the year. However, the company said this was expected for a new entrant still building its foundation in a tightly regulated market.

“What has been reported as £1.2 million loss actually reflects set-up costs, not operational shortfall,” the company stated.

Moniepoint explained that the so-called UK loss is part of a deliberate early-stage investment phase, one that included heavy spending on technology infrastructure, compliance systems, and staffing to meet the stringent standards of the UK’s financial environment.

According to the company, these investments were necessary to ensure operational readiness and compliance before the full commercial rollout. “Moniepoint GB’s financial results for the period February to December 2024 reflect the expected early-stage investment phase common across financial services firms entering new regulated markets,” the company said. 

“The company’s focus is on serving the UK’s African diaspora and bringing financial happiness to a new market—an ambition that naturally requires upfront investment in compliance, infrastructure, and people.”

The acquisition of Bancom in July 2025 was a big part of this strategy. By acquiring an already-authorised electronic money institution, Moniepoint GB gained an immediate regulatory foothold, avoiding the lengthy and often complex process of securing its own FCA licence from scratch.

“This acquisition provides Moniepoint GB with an established, regulated entity through which we can operate, accelerating our ability to serve customers in the UK-Nigeria remittance corridor,” the company said. 

“By acquiring an already-authorised firm, we secure a solid regulatory foundation, which is paramount for providing reliable and compliant financial services.”

Following the acquisition, Moniepoint launched MonieWorld in April 2025, its first UK-facing product that enables residents to send money directly to Nigerian bank accounts using British bank cards, Apple Pay, or Google Pay. The product reportedly recorded a 70% increase in transaction volume within months of launch, revealing early traction among the diaspora.

Moniepoint has since embarked on an aggressive marketing drive across UK trains and diaspora events to deepen brand visibility. The company said additional products are in the pipeline as it strengthens its presence among Africans living in the UK.

The UK currently hosts over 290,000 Nigerians, making it one of the busiest remittance corridors to Nigeria. In 2021 alone, Nigeria received £2.76 billion ($3.69 billion) in remittances from the UK, a figure that shows the scale of opportunity Moniepoint seeks to capture.

Backed by a $110 million investment secured in late 2024 from investors including Google and Visa, Moniepoint’s valuation rose to $1 billion. The funding, according to analysts, gives its UK expansion the financial muscle and runway needed to compete in one of the world’s most regulated fintech markets.

Stablecoins, in particular, are changing the norms of finance, with Nigeria ranked first worldwide in adoption. Against this backdrop, two homegrown exchanges, Roqqu and Quidax, are working to bolster local adoption.

Both Lagos-based, both Nigerian-founded, and both targeting millions of users, Roqqu and Quidax are enhancing how Nigerians trade, spend, and view digital assets. 

Nigeria’s crypto economy is projected to generate $2.4 billion in revenue by year-end 2025, despite regulatory tightening. The average revenue per user hovers around $87.40. Use cases are diverse, including trading, savings, remittances, merchant payments, and peer-to-peer transfers, especially in regions underserved by banks.

Most importantly, stablecoins are at the centre, with Nigerians now turning to USD-pegged tokens for cross-border payments, hedging against naira instability, and accessing scarce U.S. dollars. This is where Roqqu and Quidax are testing very different strategies. One is evangelising stablecoins for everyday Nigerians, the other embedding them into a formal, bank-linked ecosystem. Their focus, and growth models are very different.

Platform Foundations & User Experience

Roqqu, launched in 2019, handles over 100 cryptocurrencies, including BTC, ETH, USDT, and the regulator-approved cNGN stablecoin. It supports Naira, Dollars, Euros, Pounds, and Ghanaian Cedis, and has built its brand on grassroots engagement, think campus tours, community workshops, and offline activations in underserved towns. 

Its feeless cNGN transfers and integration with Base blockchain speak to a strategy rooted in accessibility and everyday use.

Quidax, established in 2018, takes a more fintech-inspired approach. With support for over 50 cryptocurrencies, the exchange prioritises seamless user experience. Naira deposits come via bank transfers, vouchers, or its own Quidax Pocket wallet. Features such as staking, interest-bearing wallets, and a crypto-linked virtual card make it feel familiar to users who already interact with banking-like financial tools.

Regulation & Legitimacy

Now a competitive edge, regulation clarity is becoming the deciding factor and when it comes to compliance, Quidax is ahead. In August 2024, it secured an Approval-in-Principle from Nigeria’s Securities and Exchange Commission (SEC). 

By 2025, it had regained direct access to the banking system, allowing fiat-crypto transactions to flow more easily. Quidax is now regarded as a model for compliant crypto operations in Nigeria.

Meanwhile, Roqqu is still awaiting its provisional SEC licence as of August 2025. However, the exchange has taken steps to align with regulators, including listing the SEC-approved cNGN stablecoin backed by regulators and minted across six blockchains. 

This means the exchange is in strong regulatory alignment while waiting for full regulatory clearance, which it shares with Quidax, Busha, and others. Roqqu is building trust at the grassroots.

Growth, Reach & Strategy

Roqqu claims 1.8 million users, including 600,000 daily actives. Its acquisition of Kenyan startup Flitaa in July 2025, with over 70,000 users, shows an expansion-focused strategy. 

With this, it aims to use cNGN to simplify remittances between Nigeria and Kenya and extend into East Africa. Meanwhile, its partnership with SiBAN, Nigeria’s self-regulatory blockchain body, lends legitimacy to its broader ecosystem-building efforts.

Quidax hasn’t announced regional M&A. Instead, it deepens trust and infrastructure at home and across borders through an OTC desk for compliant, high-liquidity business transactions and international settlement services. 

It also broadens its impact via leadership platforms, including a visionary appearance by its CEO at Consensus 2025, where he called for global collaboration to boost Africa’s crypto ecosystem.

Recent Headlines: What’s New?

• Roqqu listed the cNGN stablecoin, now circulated to the tune of ₦604 million ($395,000), as part of its wider campaign to push stablecoin use among everyday Nigerians.
• It welcomed Victor Osimhen, a Nigerian football star, as its ambassador, blending national pride with financial inclusion messaging.
• Quidax runs the Trade & Win Challenge, a gamified campaign to incentivise trading, now in its third week as of late August 2025.
• It is also partnering with educational and financial institutions, including SEC-led initiatives, to bring digital assets into mainstream consideration by banks and regulators.
• In addition, it adopted enterprise-grade security through Fireblocks, enhancing both its infrastructure and credibility.

Key Differentiators

Final Take

Roqqu is the disruptor—aggressive, community-led, and mobile-first, aiming to take finance to every corner of Nigeria and beyond. Quidax is the stabiliser—trusting compliance, clean fintech design, and institutional partnerships to consolidate crypto use inside established systems.

In 2025’s Nigeria, both have key play parts in play. Roqqu brings crypto to the streets, while Quidax brings crypto to the boardroom.

The move comes as stablecoins gain traction across Africa, where they are increasingly seen as tools for trade, remittances, and protection against currency instability.

The cNGN, launched in February by WrappedCBDC Ltd., is backed by reserves in commercial banks. It is regulated by the Securities and Exchange Commission (SEC) and minted across six blockchains, Asset Chain, Base, Bantu, Polygon, Ethereum, and Binance, allowing for cheaper transfers and broad network compatibility. 

So far, about ₦604 million ($395,000) worth of the token is in circulation, but retail uptake has been slower than expected.

Roqqu says it intends to change that by leveraging its strong presence in underserved areas. “We know our way when it comes to the grassroots market,” said Emmanuel Peter, head of Academy and Business Partnership at Roqqu. 

“A currency is not a thing if it’s not embraced by the people, and we know how to get to these people. This could be what the cNGN token has been missing—wider distribution.”

To reduce barriers, the exchange has announced that cNGN transactions will be feeless, although it will earn fees on fiat-to-stablecoin swaps. The token has already been integrated with Base, one of its supporting networks, as part of Roqqu’s rollout.

Beyond Nigeria, Roqqu is preparing to drive cNGN adoption across borders. In July, it acquired Flitaa, a Kenyan crypto startup with over 70,000 users and deep M-PESA integration. The acquisition strengthens its East African presence and also creates opportunities for cross-border payments between Nigeria and Kenya, with potential extensions into Uganda, Rwanda, and Tanzania.

CEO Benjamin Onomor confirmed that cNGN will be central to Roqqu’s long-term plans. “We have a lot of major plans for cNGN,” he said. “We want to unlock all the opportunities this [cNGN] stablecoin brings, including eventually providing users with low-interest loans and other financial services.”

Nigeria has already established itself as Africa’s leading stablecoin market, processing nearly $22 billion worth of transactions between July 2023 and June 2024. Stablecoins account for 43% of all crypto activity in Sub-Saharan Africa, fuelled by limited foreign exchange access, naira instability, and widespread distrust in traditional banking.

With cNGN now listed on Roqqu and backed by the Africa Stablecoin Consortium, a coalition of fintech and blockchain firms, the stablecoin is better positioned to move from regulatory approval to everyday use.

The company, which transitioned from a general AI solutions provider to a voice-first call centre automation platform just six months ago, is now placing itself as a key backend partner for banks, fintechs, insurers, and ISPs across the continent.

Before voice AI, there was data analytics, and before that, hospitality. Each pivot was a response to market challenges, but the voice AI play is different, revenue is climbing, and the business case is obvious. 

With nearly $1 million in monthly revenue and projections of $10 million in ARR by the end of 2025, Caantin is betting that banks and financial service firms can’t afford to ignore voice-based automation.

The startup’s infrastructure now supports over one million calls per day. Clients include names like Carbon and Fairmoney. In fact, Carbon’s CEO, Chijioke Dozie, is also an investor in Caantin. And it’s not just about performance metrics; it’s about cost-cutting at scale.

Customer service, especially for loan recovery, is one of the most expensive and high-stakes operations in banking. “If these banks stop calling borrowers, they lose money,” said Njawa Mutambo, Caantin’s CEO. “But managing that operation is expensive and fragile. AI is not a nice-to-have. It’s essential for scale.”

Caantin’s pricing is aggressive. In Nigeria, it charges ₦185 per minute (about 12 cents)—which is nine times higher than local telecom operator rates. Yet, for financial institutions bleeding cash on sprawling customer service teams, the ROI more than justifies the premium. 

One of its clients, Nigerian fintech Cowrywise, reportedly managed 100,000 customer calls in just three months using only one human staff, something that would normally require around 30 agents.

Caantin estimates a 933% return on investment and a 1.3-month payback period for businesses switching from human agents to voice AI.

Mutambo had previously raised $2.16 million for TopUp Mama, a procurement platform for restaurants across Kenya and Nigeria. That experience, deeply embedded in B2B logistics, local operations, and scaling infrastructure, appears to be impacting how Caantin is built.

Now, the company is planning to go beyond Africa. Its next major push is Latin America, where the cost of labour is higher, but the challenges of customer engagement are nearly identical. “In Brazil, the cost of call centre labour is around $2 per hour. In Nigeria, it’s closer to 25 cents,” Mutambo said. “So the ROI for AI is even stronger in LATAM.”

Brazil’s $262 minimum wage compared to Nigeria’s $46 only stresses the economic gap Caantin is looking to exploit. And in markets where businesses are desperate to improve margins, automation is now a means for sustainability.

Other companies like YC-backed Bland AI and Observe.AI are also building voice-first platforms. But few are adapting their systems to support African languages or integrate directly with regional fintech infrastructure like Paystack or Flutterwave. That’s where Caantin sees its edge.

“We are a telecoms business tailored to financial services. Their growth becomes our growth,” Mutambo explained. “By serving banks and fintechs, we are effectively hedged within a high-yield vertical.”

The company is developing advanced analytics to pull insights from voice data, turning it into a decision-making asset for clients. This positions Caantin as more than a call automation tool; it’s aiming to become a strategic enterprise layer across industries.

In a continent where under 1% of global AI research is produced, but where infrastructure inefficiencies are common, Caantin’s push for voice-first AI is timely and necessary. High illiteracy, low smartphone usage, and poor connectivity make voice far more inclusive than apps or chatbots.

The global call centre AI market is projected to grow from $1.6 billion in 2022 to over $7.5 billion by 2030. Caantin is angling for a piece of that, starting from Africa but with its eyes clearly fixed on bigger, more lucrative terrain.

With 25.9 million Nigerians now using digital assets, representing an 11.9% market penetration, the country’s embrace of blockchain-powered finance is being impacted by challenges such as inflation, currency instability, and inaccessible traditional banking. 

For many, stablecoins have become a tool to survive, offering a safer, faster, and more predictable way to send money, save in hard currency, or simply transact across borders.

According to Yellow Card, “Stablecoins have become an increasingly critical tool for Africans seeking more efficient and accessible financial solutions. Nowhere is this more evident than in Nigeria. Nigeria’s leadership in stablecoin adoption and digital asset usage is not just a tech milestone; it’s a signal of how financial innovation can thrive in response to local needs. The rest of Africa is clearly following.”

Africa now leads the world in stablecoin adoption at 9.3%, with over 54 million digital asset users across the continent. But Nigeria’s position in this ecosystem is quite interesting. 

Despite a history of regulatory issues, including restrictions from the Central Bank, Nigerians have turned to decentralised finance in droves, driven by a need to bypass currency devaluation and costly remittance systems.

The report lists nine other African nations in the global top 50 for digital asset adoption, including Ethiopia (26th), Morocco (27th), Kenya (28th), and South Africa (30th). 

Interestingly, countries with strict regulatory environments, such as Algeria and Egypt, still see high user numbers. Egypt and Morocco, for instance, are estimated to have over 17 million users combined, despite lacking fully established legal frameworks.

Regulatory bodies across the continent are now working to keep up with the increasing usage; from draft legislation and pilot regulatory sandboxes to fully operational frameworks for virtual asset service providers (VASPs), the sector is changing quickly. 

Some nations are also testing Central Bank Digital Currencies (CBDCs) to tackle goals like financial inclusion and monetary stability.

There is an obvious tension between regulation and innovation. While some countries embrace decentralised tools as a path to resilience, others tread cautiously, risking stifling innovation altogether. 

Yellow Card’s report warns that CBDC development, while important, often drags compared to the fast-paced growth of private digital assets.

“While regulatory frameworks remain uneven across the continent, the momentum is clearly shifting toward formal recognition and oversight of digital assets,” the report noted.

Yellow Card projects that clearer rules could attract investment and accelerate financial inclusion, helping bridge Africa’s long-standing gap in access to formal financial services. 

With businesses and even financial institutions beginning to integrate blockchain solutions, digital assets are no longer fringe, they are fast becoming the backbone of an alternative economic future.