Telecom
Anchor joins Y Combinator’s Summer 2022 Batch, Announces the Launch of Public Beta

Anchor, a banking-as-a-service (BaaS) platform making it possible to seamlessly build financial products in Africa announces its public beta launch. The startup was also accepted into Y Combinator Summer 2022 Batch as the first African BaaS and embedded finance platform.

In recent years, there have been several reports about the size of the Africa financial inclusion opportunity, particularly in reference to the provision of digital financial services.
These reports have brought about a spike in the number of companies and amount of investment activities in the fintech space in Africa. Yet, two things stand out; the minimal impact on financial inclusion, and the persisting difficulty in building and launching a fintech company on the continent.
For context, financial exclusion in Nigeria decreased by only one percent, from 37% in 2018 to 36% in 2020. Also, today, across Africa it takes an average of $500,000 and 18 months to build and go-to market with financial products. This is because companies need to go through the hurdles of rigorous licensing and compliance processes, multiple integration layers, complex banking and third-party relationships, and invest in complicated core-banking infrastructure.
Anchor is launching its public beta API infrastructure to make it easier for African businesses to build, embed and launch financial products, starting in its first market, Nigeria.
Founded by Segun Adeyemi, ex-CEO of Amplifypay, Olamide Sobowale and Gbekeloluwa Olufotebi, Anchor provides API for offering accounts, money movement, savings and card products.
“We built Anchor to abstract away the complexities in building financial products, so businesses can get started in five minutes with a few lines of code”, says Anchor’s CEO, Segun Adeyemi.
In May, Anchor released its private beta working with innovative start-ups like Outpost Health, Dillali, and Pivo. The BaaS platform has transacted millions, growing over 200% MoM, and is now set to launch its public beta for African businesses to embed finance into their offerings and for fintechs to build banking products. Already, the company has more than 40 other startups on its waitlist.
Anchor has raised over $1 million in pre-seed funding from Byld Ventures, Y Combinator, Luno Expeditions, Niche Capital, Mountain Peak Capital, and a host of angel investors including Emmanuel Okeleji (CEO, SeamlessHR), Ado Oseragbaje, Yinka Odeleye, and Sanmi Famuyide.
According to Ashutosh Desai, a Partner at Y Combinator, “Anchor’s embedded finance platform enables technology companies in Africa to build products that can rapidly expand access and improve quality of financial services. We’re excited to back Segun, Olamide, and Gbeke – a highly technical and experienced team – in building financial infrastructure that’s essential for Africa’s economic growth.”
“I believe BaaS will play a prominent role in the distribution of financial services in Africa. As a full stack baas provider, Anchor demarcates customer engagement from infrastructure – enabling its customers to focus on building differentiation as opposed to commodity infrastructure. We are really excited to be working with this determined and experienced team”, Founder of Byld Ventures, Youcef Oudjidane.
Anchor is a solution birthed by the insights garnered from the founders’ experience building and working with fintechs across Africa. The CEO, Segun Adeyemi founded Amplifypay; a payments company which he exited to Carbon (FKA OneFi/Paylater) in 2019. Segun proceeded to work with JUMO—a company that offers credit infrastructure to large mobile money operators across Africa.
Olamide, the CTO and co-founder, has worked at AppZone, TeamApt, Kuda, & Carbon. While at TeamApt he functioned as a Fullstack Engineer in the team that built the first virtual payments product in Nigeria. Gbeke, the Engineering Lead and co-founder, has been an IT Consultant and entrepreneur in Nigeria for over 10 years before joining Booking.com where he built financial operations software.
“We have seen first-hand the painful process of closing banking partnerships, negotiating third-party contracts, and obtaining regulatory approvals. And more generally, the extensive time and effort required to launch financial products,” Segun said.
He added that “considering the similarity in the underlying infrastructure, irrespective of the unique value propositions, companies should not have to wait for years and spend millions to go-to-market. That’s why we are excited to get Anchor into the hands of many more businesses via our public beta launch.”
Telecom
SHELT Named in Prestigious 2025 MSSP 250 List for Cybersecurity Excellence

SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.

SHELT
The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.
SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.
“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”
The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.
Telecom
X Suspends Twitter Account for Rules Violation

X, the social media platform formerly known as Twitter, has suspended the @Twitter account, replacing its profile with a standard notice citing violation of platform rules.

Musk
The action, which occurred on Sunday, January 11, left users encountering the handle greeted by a bold “Account Suspended” message on a black screen, with no details provided on the specific rules broken or the duration of the suspension.
The development has sparked widespread confusion and nostalgia among users, given that Elon Musk rebranded Twitter to X in July 2023, approximately six months after acquiring the platform for $44 billion in late 2022.
The @Twitter handle had remained dormant since before Musk’s takeover, serving as a legacy remnant of the platform’s original branding, and its suspension appears to mark the final erasure of the Twitter name amid X’s ongoing efforts to combat spam, impersonation, and rule violations.
X’s official statement on the suspended page simply reads: “X suspends accounts that violate our rules,” without offering an appeal process or further explanation, unlike standard user suspensions.
Public reactions on social media ranged from humorous laments of “RIP Twitter” to speculation that the move resulted from automated moderation or a deliberate cleanup of legacy trademarks.
xAI’s Grok AI described it as a purposeful retirement of outdated elements rather than a genuine infraction, while neither Elon Musk nor X spokespeople issued any comment as of Monday morning.
This incident underscores the evolving identity of the platform under Musk’s ownership, which also saw a domain shift to x.com in 2024, further distancing it from its Twitter roots.
Industry observers note that while the suspension aligns with X’s stricter enforcement policies, the lack of transparency has fueled debates on consistency in applying rules to high-profile legacy accounts.
Telecom
FG Plans to Invest $460m World Bank Loan in Fibre Infrastructure

Federal Government plans to channel $460m World bank loan, representing about 92 per cent of a $500m, into the proposed fibre infrastructure company set up to deploy 90,000 kilometres of climate-resilient broadband fibre across the country.

This is contained in the Financing Agreement for the Building Resilient Digital Infrastructure for Growth project between the Federal Government and the International Development Association, the concessional lending arm of the World Bank.
Under the agreement, the World Bank approved a $500m concessional credit to support Nigeria’s drive to expand access to high-quality and climate-resilient broadband internet in unserved and underserved areas.
Of this amount, $460m is earmarked specifically for equity financing and capitalisation of a new Project Company that will drive the fibre rollout. The remaining $40m will cover goods, works, consulting and non-consulting services, training, operating costs, and the refund of a preparation advance used to develop the project framework.
According to the document, the proposed Project Company will be established “as an independent, majority privately-owned and managed special purpose vehicle-joint venture with the objective of the deployment of 90,000 kilometres of climate-resilient fibre infrastructure following a phased approach, limited to provision of wholesale, open access services to licensed telecommunications operators, and management of associated investments, including the carrying out of preparatory activities and provision of transaction advisory services, and provision of equity financing in and capitalization of the Project Company.”
The Federal Government will participate in the company as a shareholder through the Ministry of Finance Incorporated, which manages the government’s investment interests. However, the agreement explicitly caps the government’s shareholding at a maximum of 49 per cent, ensuring that the company remains majority privately owned.
The $460m equity injection is broken into four tranches, tied to strict performance and operational milestones. The first tranche of $150m will be released once the Project Company is incorporated as a joint venture with private partners selected through a process acceptable to the World Bank, and after its memorandum, articles of association, and shareholding agreement are approved.
A second tranche of $100m will only be disbursed after the company adopts fiduciary and administrative procedures approved by the lender and completes at least 5,000 kilometres of fibre deployment. The third tranche of $100m is linked to the completion of an additional 20,000 kilometres of network construction.
The final tranche of $110m will be released after the company launches wholesale open-access services through a published reference offer and completes a further 40,000 kilometres of fibre deployment, bringing the total rollout to at least 65,000 kilometres before the final equity drawdown.
Once each tranche is withdrawn, the agreement requires that the funds be transferred to the Project Company’s dedicated account within five working days, showing the equity nature of the financing rather than traditional budgetary spending.
The project will be implemented under the oversight of the Federal Ministry of Communications, Innovation and Digital Economy, and the Federal Ministry of Finance will receive semi-annual progress updates.
A dedicated Project Implementation Unit will manage day-to-day execution, with overall financial management handled by the Federal Project Financial Management Department in the Office of the Accountant General of the Federation.
Beyond the fibre rollout, the project also includes technical assistance to federal government agencies to support the use of high-quality broadband in targeted areas, as well as funding for project management, monitoring and evaluation, environmental and social safeguards, grievance redress mechanisms and independent audits.
The agreement places strong emphasis on environmental and social standards, requiring compliance with an Environmental and Social Commitment Plan. It also mandates the establishment of an accessible grievance mechanism for affected communities and strict reporting obligations to the World Bank.
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