Telecom
Plentywaka, Nigerian mobility startup Raises $1.2m Seed Funding, Acquires Ghana’s Stabus

Plentywaka, a Nigerian mobility startup has raised a $1.2 million seed round, after successfully ending the Techstars Toronto Accelerator Program in July 2021.

L-R: CMO Stabus, Nicholas Boampong, Admin Stabus, Christabel Lamptey, CEO Stabus, Isidore Kpotufe, CEO Plentywaka Onyeka Akumah, VP Customer Engagement Plentywaka Shaibu John, President Plentywaka Johnny Ena, VP Products Development Afolabi Oluseyi
The startup also announced it has fully acquired Ghana’s mobility startup Stabus, a step it said would further Plentywaka’s ambition of building the largest shared mobility platform on the African continent, starting with West Africa.
Stabus was launched in 2019 by its Co-founder, Isidore Kpotufe who shared that the startup has moved over 100,000 people within Accra, the capital city of Ghana.
Their services include daily bus-stop to bus-stop transportation as well as providing staff bus solutions for multinationals like MTN Ghana and GB Foods.
Following up on this acquisition, Stabus will now be known as Plentywaka Ghana with the mobility platform offering a range of low-cost and premium vehicles which includes cars, mini-vans, and buses for public transportation.
Isidore Kpotufe will become the Country Manager of Plentywaka Ghana and will be joined by the current team of Stabus.
The Xchange, a Toronto-based fund, led this seed round, while Techstars followed on their previous investment in Plentywaka to participate in the round as well.
Other investors include SOSV, the most active VC globally in the angel/seed deal type, and ShockVentures, a VC from the United States.
Nigerian investment firms who participated in the round include Argentil Capital Partners and ODBA & Co Ventures, an early-stage investor in Kuda Bank.
A couple of angel investors from Canada, the US, and Africa also participated in the seed round to give Plentywaka the much-needed boost to continue its impressive growth.
Plentywaka’s Co-Founder & CEO, Onyeka Akumah said, “Plentywaka’s acquisition of Stabus is a firm statement about our commitment to grow and build the largest shared mobility startup in Africa, one country at a time.
“Isidore is a brilliant entrepreneur and we are excited about having him and his team execute our plans for the Ghanaian market as Plentywaka Ghana’s operations commence on the 16th of September in Accra.
“In addition to our work in Ghana, we are also really happy about the progress we’ve made in Nigeria as well to scale our Dailywaka service that provides bus-stop to bus-stop transportation service for thousands of commuters.
“Today, we have moved close to half a million people and that’s a credit to the effort of my team, our heroes (a term used to describe Plentywaka drivers), and our investors who continue to believe and support our growth with their investments.
“With our Travelwaka service, we have been able to cater for interstate travelers across 21 cities in Nigeria and we are looking to expand to more cities as new bus partners sign up with us.”
Todd Finch, Founder and Managing Partner of The Xchange, the lead investor in the seed round said, “The Xchange is on a mission to fuel purpose-driven founders with the capital and resources they need to realize the world-changing potential of their ideas.
“Given Onyeka’s proven track record, his team’s undeniable thirst for making an impact, and Plentywaka’s impressive growth, we knew this was an opportunity we wanted to invest in.”
With over 25 years of experience in building innovative technology startups, Todd Finch shared that “the Xchange is excited to help Plentywaka accelerate and scale their impact.
“We are excited to support Onyeka and the team with the resources they need to realize the full potential of their vision to change the African transport ecosystem.
“We have been most impressed with Plentywaka’s human-centred approach, putting the drivers as the heroes of the story while creating an exceptional passenger experience. We are committed to supporting the vision of Plentywaka, its founders, and its journey for many years to come.”
Sunil Sharma, Managing Director of Techstars Toronto said, “We are incredibly excited by our investment in Plentywaka. Techstars is a huge believer in the future of Africa and a proud supporter of African entrepreneurs. Onyeka is a two-time Techstars founder which deepens this relationship further.”
Despite suspending its operations for 5 months in 2020 as a result of the global pandemic, Plentywaka has still been able to get 960 vehicles registered on its platform and help its riders commute more than 480,000 times in less than 2 years.
Akumah said expanding into Ghana is just the beginning for the team as it aligns with its Pan-African expansion plan.
He added that Plentywaka is going to replicate its model across 6 other African countries within the next 2 years and will be looking for the right kind of investors and partners to join the ‘black and yellow’ movement to provide the best-in-class transportation service connecting cities and communities with technology across Africa.
Telecom
NigComSat Eyes $3Bn Annual Revenue – DG

Jane Idehen, director-general of Nigeria Communication Satellite Limited (NigComSat), has said that the organisation is projecting an average annual revenue of three billion dollars as it expands its scope of operations.
disclosed this in Abuja at the July edition of DevsInGovernment MDA workshop series organised by the Ministry of Communications, Innovation and Digital Economy, with a focus on NigComSat.
The programme supported by Galaxy Backbone and World Bank was tagged: “Driving Operational Excellence through Technology at NigComSat.”
DevsInGovernment is a community that aims to create a group of technologists and tech enthusiasts within the civil service who are actively contributing to digital transformation across all government agencies.
The DG said that for NigComSat to grow, it had to explore new ideas and increase product life, which can lead to significant revenue increases.
“Currently we are projecting to average about three billion dollars in revenue year.
“If we can think about ideas, we can do more than that because if you can increase your product life, you can provide more solutions to problems,” she said.
She said that there were other revenue streams beyond broadcasting, which could double or triple the existing broadcasting revenues.
According to her, creating awareness about the programme’s services and solutions was crucial for its success.
Abiodun Attah, executive director of Technical Services at NigComSat, said the agency was charting a new course in its operations with a view to increasing its revenue earnings and serving the country better.
Attah said that one of the things the agency had done with the Mobile Network Operators (MNOs) was to carry 2G, 3G, and 4G traffic in rural areas where there was no connectivity.
“In the past, NigComSat was shying away from going into enterprises; it was shying away from doing business outside the government sector.
“Now we have gone beyond that,” he added.
Telecom
Airtel Backs Global Hepatitis Fight with Health Education and Free Employee Vaccination

As the world commemorates World Hepatitis Day, Airtel Nigeria is taking bold steps to combat the global health challenge by equipping its employees with knowledge and access.
Reinforcing its ongoing commitment to employee wellness and public health advocacy, the leading telecommunications and digital services provider hosted a companywide Health Talk and announced a free hepatitis vaccination rollout across its offices across the country.
This year’s health and wellness theme at Airtel, “Stay Aware, Get Tested, Vaccinated & Seek Treatment,” aligns with global efforts to eliminate hepatitis and underscores the company’s belief that well-informed, healthy employees are the foundation of a thriving organisation.
In collaboration with its healthcare partner, Leadway Health, Airtel Nigeria brought together staff from across the country for an educational session titled: “Healthy Habits, Healthy Liver: Ending Hepatitis Starts with You!” Led by esteemed medical consultant Dr. Obioma Anomneze-Chima, the session offered critical insights into the causes, symptoms, and prevention of hepatitis, along with practical lifestyle habits to safeguard liver health.
In his remarks at the programme, Airtel Nigeria CEO, Dinesh Balsingh, highlighted the company’s holistic wellbeing philosophy.
He said, “Our people are the heart of our organisation, and when they are healthy, they bring their best selves to work. We’re not just investing in employee performance; we’re investing in their complete wellbeing. From mental wellness to preventive healthcare, our programmes are designed to offer real, meaningful support.”
Speaking during the session, Dr. Anomneze-Chima emphasised the importance of proactive prevention and early testing, “Hepatitis doesn’t always announce itself; it creeps in quietly and can cause lifelong complications. Conversations like this help us catch it before it catches us. I applaud Airtel for giving its employees not just facts, but tools and access to protect their health.”
Director, Human Resources and Administration, Airtel Nigeria, Adebimpe Ayo-Elias, noted that events such as the Hepatitis education and vaccination activity are a firm part of the company’s corporate mission. “This hepatitis campaign is a reminder that corporate responsibility goes beyond business metrics; it’s about actively participating in global health conversations and making a difference where it counts: among our people,” she added.
To sustain the impact of the educational talk, Airtel Nigeria is launching a free hepatitis vaccination programme across its premises, allowing employees nationwide to get vaccinated on-site with ease. This initiative reflects the company’s human-first approach to workforce wellness—prioritising both immediate care and long-term health security.
With this initiative, Airtel Nigeria once again demonstrates its leadership in advancing workplace wellness and health advocacy in the corporate sector. From supporting mental health through its Employee Assistance Programme (EAP) to promoting physical wellbeing with preventive screenings and vaccinations, Airtel is setting the standard for what it means to truly care for its workforce.
Telecom
MTN Nigeria Bounces Back with 414.9Bn Profit in H1 2025, Targets Full Recovery by Q3

MTN Nigeria Communications Plc has reported robust financial and operational results for the first half of 2025, signaling a promising turnaround for the telecom giant amid improving economic conditions and strategic initiatives.
Karl Toriola, ceo MTN Nigeria, said the company’s performance reflected the successful execution of earlier strategies and a more stable business environment. “We are excited by the progress made in the first half of 2025,” he said, highlighting a 54.6 percent growth in service revenue and a remarkable recovery in profits.
MTN’s subscriber base grew to 84.7 million, adding nearly 4 million users despite regulatory changes limiting SIM registrations by third-party agents. Active data users reached 51 million, fueling a surge in data revenue, which rose by an impressive 69.2 percent.
The operator has been investing heavily to meet rising demand and improve service quality. Among its major projects is the $240 million Dabengwa Tier 3 Data Centre—West Africa’s largest—which was launched in July and promises to drive digital transformation for businesses across the region.
On the fintech front, MTN made solid strides by adding over half a million new digital wallets in Q2 alone. Customer deposits grew fivefold since December 2024, pointing to renewed confidence and expanding usage of MTN’s mobile money services.
Economically, Nigeria showed signs of recovery during the period, with the naira exchange rate remaining stable and inflation easing to 22.2 percent. These factors helped strengthen MTN’s financial position and allowed the company to renegotiate tower leases, resulting in significant cost savings.
As a result, MTN swung from a loss after tax of N519 billion in the first half of 2024 to a profit after tax of N415 billion this year. Free cash flow also improved, hitting N409.8 billion, which the company plans to leverage for further network investments.
Looking ahead, MTN Nigeria has raised its full-year guidance, targeting service revenue growth at least in the low 50 percent range and an EBITDA margin above 50 percent. The firm anticipates positive retained earnings and shareholders’ equity returning by the end of Q3.
The company also remains committed to nurturing tech talent and innovation in Nigeria, pledging over N3 billion to support skills development. An accelerator programme offering funding and mentorship aims to empower African startups and drive future digital growth.
Despite some regulatory and macroeconomic uncertainties, MTN Nigeria’s leadership expressed confidence in the company’s ability to adapt and deliver sustained value to shareholders and customers alike.
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