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Nigerian fintech Zone raises $8.5M seed to scale its decentralized payment infrastructure

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Zone, Africa’s fast-growing payment infrastructure company (the “Company”), has raised $8.5 million in an oversubscribed seed funding round led by reputable VC firms Flourish Ventures and TLcom Capital.

The deal marks a pivotal moment for Zone as the company continues on its journey to build a Blockchain-based decentralized payment infrastructure for financial services providers across the continent and beyond.

By harnessing the power of blockchain, Zone’s blockchain network delivers reliable, frictionless and universally interoperable payment experiences at scale to financial service providers and their customers.

Zone has a unique position as Africa’s first regulated blockchain network for payments and has already signed up over 15 of Africa’s largest banks and fintech companies.

The new funding will enable Zone to further expand the coverage of its network domestically and connect more banks and financial services companies. A significant portion of the proceeds will also be allocated to conducting a comprehensive pilot programme to test the Company’s cross-border capabilities, scheduled for 2025. A key priority of the Company is to ensure that it is well-prepared to extend its footprint across Africa in order to support Intra-African and international payments which will bring the company closer to its vision of becoming a global payment network.

Flourish Ventures, an early-stage global fintech venture firm with purpose will provide Zone with a global perspective, networks of industry influencers and extensive Africa fintech expertise, paving the way for expansion into new markets.

UK-based TLcom Capital provides essential local credibility and understanding of the African tech space while leveraging its existing relationships with key decision-makers In Nigeria to establish a strong foundation for Zone within its home market.

Other investors in this round include international blockchain-focused VC firms Digital Currency Group (DCG), VKAV (Verod-Kepple Africa Ventures) and Alter Global, each bringing niche sector expertise and credibility. These investments at a time when start-up funding has dried out are a testament to investor confidence in Zone’s mission to connect every monetary store of value and establish a regulated and decentralized global payment infrastructure.

Additionally, the endorsement and investment from Endeavor Catalyst reinforces Zone’s status as a frontrunner in Africa’s fintech revolution, highlighting the company’s alignment with the entrepreneurial spirit that drives technological transformation and economic progress.

Commenting on the funding round, Obi Emetarom, CEO and co-founder of Zone, said: “The participation of high-quality investors despite the funding drought and the fact that we had more interested investors than we needed, is a sign of trust in the Zone brand and investor excitement about the opportunity to redefine payment infrastructure in Africa. As we step into this new phase at Zone, we are re-energized and our commitment to transforming Africa’s payment infrastructure is renewed. Our new investors and existing shareholders including CCA, Lateral Capital, Constant Ventures and V8 bring more than just financial backing as their global scope and deep expertise make them invaluable partners for us. With their support, we are poised to accelerate our mission to connect every monetary store of value and enable real-time payments within and across geographical borders. Zone is committed to staying at the forefront of technological advancement and industry evolution in financial services.”

Ameya Upadhyay, Partner at Flourish Ventures said: “For the first time in Africa, Zone’s technology enables direct communication between participants in the payment ecosystem. We believe this is a fundamental leap that will allow customers to experience a completely new standard of reliability, speed and cost efficiency at the ATM, at POS machines and online. We are excited by the potential for Zone’s technology to be replicated across borders to advance payment innovation globally. The fact that Zone is led by Obi and Wale who are veterans of the banking industry reinforces our conviction that Zone can fulfil our shared goal of moving the entire sector forward”.

Ido Sum, Partner at TLcom Capital, said: “We are thrilled to partner with Obi Emetarom and Wale Onawunmi, co-founders of Zone, on their journey to build a category-defining fintech company that is using advanced blockchain technology to solve a critical payments system challenge. The Company’s innovative infrastructure has the potential to deliver tremendous value to financial institutions, enhancing the overall payments experience for end-users and driving down costs for hundreds of millions of consumers and businesses that rely on digital payments in Africa every day. We have no doubt that Zone, led by Obi and Wale, is on its way to transform into a global company over time, and TLcom is excited to bring its complementary experience, networks and expertise to support the Company in fulfilling its impressive scale ambitions”.

 

 

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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WhatsApp Unveils Major Privacy Upgrade That Lets You Hide Your Phone Number

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WhatsApp has announced the commencement of global reservations for usernames, a new privacy-focused feature designed to allow users connect without sharing their phone numbers.

WhatsApp Unveils Major Privacy Upgrade That Lets You Hide Your Phone Number

The Meta-owned messaging platform said the rollout of username reservations began on Monday, June 29, enabling users to reserve their preferred usernames ahead of the feature’s full in-app launch later this year.

According to the company, users will receive notifications within the app once the reservation option becomes available to them.

WhatsApp said the new feature is intended to strengthen user privacy by giving people an alternative way to communicate without revealing their phone numbers, particularly when interacting with new contacts or participating in group conversations.

It explained that unlike social media platforms, WhatsApp usernames are not designed for public discovery, noting that there will be no searchable directory or username suggestions.

The company said users would need to know a person’s exact username before they can initiate contact for the first time.

“Sometimes you just want to chat without handing over your digits,” WhatsApp said, adding that the feature would be useful in situations such as joining community or school groups where users may not wish to immediately disclose their phone numbers.

To enhance security, the platform is also introducing an optional username key, which will require anyone contacting a user for the first time through their username to enter an additional unique key.

WhatsApp said the extra verification layer is designed to provide greater control over who can initiate conversations.

The company noted that with more than three billion users worldwide, it decided to open username reservations ahead of the full rollout to give users an opportunity to secure their preferred usernames before the feature becomes widely available.

To assist users who may have difficulty selecting unique usernames, WhatsApp said it has developed a username generator capable of suggesting available options.

The company also disclosed that creators, small businesses and organisations would have the option of claiming the same usernames they already use on Instagram or Facebook, helping them maintain a consistent online identity across Meta platforms.

According to WhatsApp, once the feature becomes fully available, users who choose to enable usernames will no longer have their phone numbers displayed when they initiate conversations with people or businesses for the first time.

The company said reserving a username will take only a few seconds through the latest version of the application by navigating to Settings, then Account, and Username.

WhatsApp said the feature would be rolled out gradually across countries over the coming months, with users receiving notifications when it becomes available in their respective regions.


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NCC Ranked Among Nigeria’s Top 3 Best-Performing Federal Agencies

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Nigerian Communications Commission (NCC) has been ranked among the top three best-performing Ministries, Departments, and Agencies (MDAs) of the Federal Government in the 2026 Public Service Reforms Performance Assessment conducted by the Bureau of Public Service Reforms (BPSR).

NCC Ranked Among Nigeria's Top 3 Best-Performing Federal Agencies

L-R: Engr. Abraham Oshadami, Executive Commissioner, Technical Services, Nigerian Communications Commission (NCC); Dr. Abubakar Ibrahim Kana, Permanent Secretary, General Services Office, Office of the Secretary General to the Government of the Federation during the Nigerian Public Service Award and Gala Night where NCC recieved the award for 3rd Best Performing MDA at Nicon Luxury Hotel, Abuja on the 23rd June, 2026.

In the latest Public Service Reforms Performance Assessment, the Commission was ranked third overall, following a comprehensive evaluation across key reform indicators, including the Self-Assessment Tool (SAT), Freedom of Information (FOI) Compliance Score, Fiscal Transparency and Integrity Index, and official website performance metrics.

In the ranking, the Nigerian Investment Promotion Commission (NIPC) and Nigerian Export Promotion Council (NEPC) came first and second, respectively.

The institutional ranking, conducted across all MDAs of the Federal Government, recognises MDAs that have distinguished themselves in advancing public service reforms and delivering excellence in service.

Aside from the institutional awards, 20 individuals across federal, state and local levels received various distinguished public service excellence and leadership awards, for their sterling performance in public service, including the Head of Civil Service of the Federation, Mrs. Didi Walson-Jack; Senior Special Assistant to the President on Sustainable Development Goals, Mrs. Adejoke Adefulire, among others.

Representing the Executive Vice Chairman/Chief Executive Officer of the NCC, Dr. Aminu Maida, at the award ceremony on Tuesday in Abuja, the Executive Commissioner, Technical Services, Engr. Abraham Oshadami, spoke on behalf of the NCC and other awardees present, expressing appreciation to the Bureau for sustaining the annual assessment framework.

“First; on behalf of all awardees, and second, on behalf of the Board, Management, and staff of the Nigerian Communications Commission, we thank the Bureau for these recognitions. For us at NCC, this recognition acknowledges our ongoing reform efforts and underscores the need to sustain them,” he stated.

He stated that the BPSR recognition served as a motivation for MDAs to strengthen their commitment to service delivery, noting that, for the NCC, the award also served as an affirmation that its reforms aimed at improving transparency and accountability in the sector were yielding greater public acceptance and positive recognition.

“For our telecommunications consumers, this recognition reflects ongoing efforts to strengthen service quality, transparency, and responsiveness across the sector.

“The assessment outcome also reinforces the importance of maintaining standards that support improved customer experience and greater confidence in telecom services nationwide,” he said.

Oshadami restated the Commission’s commitment to applying regulatory tools and innovative approaches towards supporting measurable improvements in service quality and consumer protection across Nigeria’s telecommunications sector.

The Commission has, over the past two years, introduced far-reaching reforms to promote transparency and accountability in the telecommunications sector.

These include the introduction of the National Coverage Map, which provides near real-time information on the performance and availability of operators’ networks across the country, as well as the publication of Quarterly Network Performance Reports, which provide detailed assessments of network performance nationwide.

Mobile Network Operators (MNOs) have also been directed to simplify the communication of their tariffs in a manner that is clear and easy for consumers to understand.

In addition, operators are required to comply with the updated Corporate Governance Guidelines, which emphasise stronger corporate accountability and improved operational performance.

The Commission has also placed significant emphasis on the proactive publication of clear, comprehensive, and timely data on industry activities to keep the public well informed and enhance accountability across the telecommunications sector.

In his remarks, the Director-General of BPSR, Mr. Dasuki Arabi, commended all participating MDAs – particularly the top performers for 2026 broader assessment- for their efforts toward transparency, accountability, and open governance. He noted that these values reflect consistency with established public service standards.

“This annual event, which begins with a public lecture and concludes with an award ceremony, marks the commemoration of the United Nations Public Service Day.

“It also highlights the role of the Nigeria Public Service Lecture Series and Awards as a platform for recognising MDAs that have demonstrated strong performance in reform implementation and service delivery,” he said.

The NCC was ranked the second-best-performing Federal Government agency in the 2025 website performance assessment by the BPSR.

This year’s evaluation was an expanded one, touching not only on official website performance metrics, but also on other parameters such as SAT, FOI Compliance Score, Fiscal Transparency and Integrity Index.


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Womenovate, MTN Foundation Lead Charge for Inclusive Tech at Women in Technology and Engineering Summit

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MTN Foundation, in a strategic partnership with Womenovate, officially kicked off the fifth edition of the Women in Technology and Engineering Summit (WITESA) at the MUSON Centre, Lagos, on June 23, 2026.

Womenovate, MTN Foundation Lead Charge for Inclusive Tech at Women in Technology and Engineering Summit

The summit, themed, “Engineering Africa’s future: Innovation, Infrastructure, and inclusive technology”, was designed to dismantle barriers for women in Science, Technology, Engineering, Agriculture, and Mathematics (STEAM) fields.

The summit serves as a call to action for corporate stakeholders, policymakers, and industry leaders to cultivate a more equitable digital ecosystem for female-led innovations. As a key sponsor, the MTN Foundation reinforced its commitment to nurturing future talent by integrating female students into the summit where they engaged directly with industry experts and gained exposure to emerging technologies.

The Lagos State Government, recognising the importance of initiatives like WITESA, highlighted the need for inclusive policy frameworks. Representing the Executive Governor of Lagos State, His Excellency Babajide Olusola Sanwo-Olu, the Honourable Commissioner for Innovation, Science, and Technology, Olatunbosun Alake, noted that the summit aligns perfectly with the state’s vision for growth. “Innovation and infrastructure alone are not enough; they must be inclusive,” Hon. Alake remarked.

“Initiatives such as WITESA are important. They provide the visibility, mentorship, and recognition that inspire young women to pursue careers in engineering, technology, artificial intelligence, data science, renewable energy, advanced manufacturing and other emerging sectors.”

Speaking on the company’s commitment to gender equity, the General Manager of Enterprise Marketing at MTN Nigeria, Njideka Jack, highlighted the telecom giant’s data-driven approach to social impact. “MTN is intentional in closing the digital gender gap. With a 41.4% female workforce and 46.4% female representation in executive positions, alongside our matching fund and the empowerment of 5,754 Y’ellopreneurs, we are proud of our journey in empowering women,” she stated.

Jack emphasised that MTN’s focus remains firm, adding, “We are represented at the intersection of innovation, infrastructure, and inclusive technology, and our presence here today reflects our dedication to creating sustainable pathways for women in tech.”

The event concluded on June 24 with an award ceremony celebrating trailblazers who have made significant contributions to scientific and technological advancement in Nigeria.

The ceremony honoured distinguished leaders, including Bukola Ajayi, Chief Information Officer of MTN Nigeria; Aigboje Aig-Imoukhuede, Chairman of Access Holdings Plc and Coronation Group; Nkemdilim Uwaje Begho, CEO of Future Software Resources Limited; and Ude Enebeli, Acting Chief Information Officer of MTN Cameroon, among other industry luminaries.

Motunrayo Opayinka, CEO of Womenovate and the convener of the summit, expressed that these awards are critical to normalising women’s contributions in high-impact technical fields. “This award is a celebration of those whose vision and dedication are rewriting the narrative of African technology,” Opayinka said.

“By recognising these leaders, we are inspiring a new generation to see themselves as the architects of Africa’s future.”

The summit marked a significant step forward in the conversation around digital inclusion, translating high-level dialogue into a concrete roadmap for policy and practice. By leveraging the combined strengths of its sponsors and adopting a community-driven approach, Womenovate established a new benchmark for corporate responsibility within Nigeria’s tech ecosystem.

The event concluded with an award ceremony celebrating industry leaders and trailblazers, reinforcing a shared vision where innovation, infrastructure, and inclusivity serve as key drivers of Africa’s technological future.


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