Telecom
Mono, Nigerian Fintech Startup Secures $15m Series A
Mono, Nigeria’s tech-driven fintech startup, has closed a $15,000,000 Series A funding round led by Tiger Global.
Target Global, General Catalyst and SBI Investment are new investors who joined in backing Mono in the round. Existing investors include Entree Capital, Lateral Capital, GPIC, Acuity VC, and Ingressive Capital.
Mono leverages technology to power the digital economy in Africa, using open banking as a layer for financial data, identity data, and bank transfer payments for businesses. The company connects bank accounts to financial applications.
The company’s CEO, Abdul Hassan and CTO, Prakhar Singh founded the company last year to make access to financial accounts across Africa, secure and reliable.
Mono’s DirectPay product makes payments transactions seamless for Nigerian businesses. Entrepreneurs can transfer money to customers with the company’s web or mobile app without using debit cards.
With offices in Nigeria, Kenya and Ghana, Mono affirms to have 1,200 developers and businesses leveraging its services to build their products, processed and delivered to its partners over 200,000,000 transaction data
The company is building user-focused and innovative products that will continue to go beyond limits in accessing data and payments in Open Banking, across Africa.
Backed by leading investors including YCombinator, Entree Capital, Ingressive Capital, Magic Fund and Lateral Capital, the company has raised $2,650,000 in total funding prior to the current round.
In the last two months, the company asserts to have connected over 150,000 bank accounts, with a growth of 45x year-on-year and an increased staff base.
Last September, the company completed a $500,000 pre-seed investment and participated in Y Combinator’s most recent winter batch, raising $2,000,000 in seed funding after graduation.
Building the best open banking platform in Africa, the company plans to complete its move to South Africa via a partnership with Absa bank this year.
Telecom
NCC Holds Virtual Forum on A2P Licensing Framework
Nigerian Communications Commission (NCC) has hosted a virtual stakeholders’ forum to discuss the draft Application-to-Person (A2P) licensing framework.
The event, held on December 20, aimed to address challenges in the international A2P messaging space in Nigeria, including consumer protection, fraud prevention and industry fairness.
Dr. Aminu Maida, executive vice chairman (EVC)/ceo, Nigerian Communications Commission who was represented by Mrs. Chizua Whyte, Ag. Head, Legal and Regulatory Services of NCC, said A2P messaging plays a vital role in today’s digital world.
“A2P messaging drives efficiency, enhances communication and supports socio-economic development.
“It has become the go-to platform for businesses to send notifications, whether transactional, promotional or service-related, directly to consumers,” Whyte said.
She emphasized the importance of effective regulation, stressing that the NCC’s strategic focus is centered on three key stakeholders: the government, consumers and the industry.
Whyte noted that the proposed framework seeks to foster innovation, ensure fair and transparent operations and protect consumers.
“The NCC firmly believes that effective regulation stems from inclusivity and collaboration.
“This forum is an opportunity for all of us – operators, aggregators, businesses, service providers and consumers – to engage in meaningful discussions,” she said.
The commission presented the various feedbacks received as inputs into the A2P Licensing Framework and gave NCC’s responses to each of the observations and recommendations made by the licensees.
Mrs. Truddy Tony-Awusaku, Assistant Director at the Licensing and Authorisation Department of the NCC, presented an overview of the framework for international A2P messaging in Nigeria.
The NCC assured stakeholders that it would continue to engage internal and external stakeholders ahead of the final draft of the A2P Messaging Services Licensing Framework.
The commission invited stakeholders to provide feedback and recommendations to refine the framework and create a sustainable A2P messaging ecosystem.
Telecom
9Mobile Blames Network Outage on Data Center Fire in Lagos
9Mobile, mobile network operator, has blamed a network outage this week on a fire incident at its main data center in Lagos.
The fire is said to have happened on Tuesday night (December 17), leading to network issues for 9Mobile’s customers until Thursday.
9Mobile said it had experienced multiple fiber cuts which had led to some of the disruption.
Its customers have taken to social media to complain about a lack of voice and data services.
9Mobile is estimated to have more than 11 million mobile subscribers.
The latest outage follows a six-day outage that impacted the carrier in July.
“9Mobile sincerely apologizes for the recent service outages experienced by our valued customers which have affected our ability to provide voice, data, and internet services. We understand the frustration these disruptions have caused and deeply regret the inconvenience,” said 9Mobile in a statement.
“Our technical team has identified the root causes of the outages including a fire incident at our main data center in Lagos last night which severely impacted services, especially in the Lagos and South-West. We are grateful for the swift intervention of the Lagos State Fire Service, which helped prevent further damage.”
The cause of the fire was not revealed by the carrier.
Acknowledging the fiber cuts, 9Mobile explained that prior to the fire, a fiber cut on the backbone links in Lagos led to a total data outage across the country. Other vandalism incidents in Lagos and Abuja led to a total service outage in the southwest and a data service outage in the north of the country.
Telecom
Sytemap Announces 50% Discount on Verified Lands for Women, March 8–14, 2025
Sytemap, a trusted leader in land acquisition and technology solutions, is thrilled to announce a groundbreaking initiative designed to empower women through affordable and secure land ownership.
From March 8 to March 14, 2025, women—including professionals in Africa and the diaspora—will enjoy an exclusive 50% discount on plots from verified estate developers through the Sytemap platform.
This initiative, themed “Her Land, Her Future,” underscores Sytemap’s commitment to breaking cultural and economic barriers that have historically sidelined women from property ownership. Partnering with over 30 reputable estate developers, Sytemap is creating unprecedented opportunities for women to invest in land with confidence.
For decades, women in Nigeria and across Africa have faced significant hurdles in land acquisition, including high costs, fear of fraud, and societal biases. In fact, studies show that 65% of victims of land scams in Nigeria are women.
Sytemap’s CEO, Nnamdi Uba, stated, “Women have long been marginalized in land ownership, a critical path to building wealth and security. Our mission is not only to make land ownership accessible but to eliminate the fears and uncertainties that hold women back.”
With this initiative, Sytemap leverages its reputation for transparency and cutting-edge technology to offer a simple, scam-free, and empowering process for land purchase.
The campaign is designed to resonate with young professionals, particularly women with good-paying jobs who are ready to invest in their future. For women in the diaspora, the initiative offers tailored support, including seamless international payment options and an innovative plot-monitoring app that allows buyers to manage their investments from anywhere in the world.
Key Features Include:
50% Discount: Available only during the trade fair window (March 8–14, 2025).
Verified Estates: Secure locations vetted by Sytemap and trusted developers.
Flexible Payment Plans: Options to spread payments over several months to ease financial stress.
Digital Monitoring: A dedicated app to track land purchases and allocation progress.
Guaranteed Transparency: Every outright payment comes with instant, verifiable certificate allocation, with land documents delivered within three weeks.
This initiative will launch during the “Sytemap Land Trade Fair 1.0,” an event bringing together key stakeholders, women’s organizations, and influencers to celebrate this transformative moment. Women in the diaspora are encouraged to participate and take advantage of this life-changing opportunity.
Imagine a future where women are equal stakeholders in property ownership, shaping communities and securing generational wealth.
Sytemap invites women across Africa and the diaspora to claim their space and rewrite the narrative of land ownership.
For more details and to reserve your plot, visit https://sytemap.com/women.
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