Telecom
Nigerian Fintech Firm Risevest Set to Acquire Kenyan Stock-trading App Hisa
Nigerian fintech startup enabling access to global investments and Nigerian stocks, Risevest is currently in negotiations to acquire Hisa, a Kenyan startup facilitating access to US stocks.
Should the acquisition proceed, it would mark Risevest’s expansion into the Kenyan market, following its acquisition of Chaka, a digital trading startup, in September 2023.
According to sources familiar with the matter, discussions regarding the acquisition began in late 2023 and are ongoing. While specific terms of the potential deal remain undisclosed, Hisa, which secured $250,000 in pre-seed funding in 2022 from investors such as Ham Serunjogi and Majid Moujaled, was valued at $5 million post-money.
Eke Urum, founder and CEO of Risevest, acknowledged ongoing talks with Hisa, emphasizing that no definitive agreement has been reached yet. Hisa, on the other hand, has not yet responded to requests for comment on the matter.
Acquiring Hisa would allow Risevest to expand its market presence in Kenya without the need to establish a new entity or obtain additional licenses. Founded in 2020 by Eric Asuma, Hisa is licensed by the Capital Markets Authority of Kenya (CMA) and the Nairobi Securities Exchange (NSE). The fintech sector in Kenya, particularly those offering global investment opportunities, is relatively nascent, with Hisa and Ndovu standing out against a backdrop historically dominated by commercial banks with investment arms.
“There is potential in the market based on the numbers, and collaborating with a local team could enhance our chances of success,” commented a Risevest executive, speaking anonymously to TechCabal.
Backed by Ventures Platform and Techstars, Risevest is estimated to serve approximately 600,000 users, underscoring its position as a key player in the fintech space aiming for regional expansion and market growth.
Mazen Mroue, a non-executive director at MTN Nigeria Communications Plc, has resigned effective February 27, 2026, to prioritise other responsibilities within the MTN Group, the company announced in a Nigerian Exchange Limited (NGX) filing.
MTN Nigeria
The notice, signed by company secretary Uto Ukpanah, stated: “This is to enable Mr. Mroue to focus on other priorities within MTN Group Limited. The Board wishes to express its appreciation to Mr. Mroue for his immense service to MTN Nigeria and wishes him success in his future endeavours.”
Mroue joined MTN Nigeria’s board on June 1, 2022, bringing over 28 years of telecom experience. A veteran MTN executive, he previously served as CEO of MTN Uganda and MTN Liberia, non-executive director at MTN Cyprus, and held leadership roles at MTN Ghana.
Since February 2022, he has been MTN Group’s Chief Technology and Information Officer, overseeing technology strategy and governance. Earlier, as MTN Nigeria’s COO from August 2018 to January 2022, he also sat on the MTN Nigeria Foundation board.
The exit follows MTN Nigeria’s stellar 2025 results, posting a ₦1.70 trillion profit before tax—reversing a ₦550.3 billion loss in 2024 driven by forex woes—marking one of the telco’s strongest rebounds.
Google has rolled out support for Yorùbá and Hausa languages in its AI-powered Search features—AI Overviews and AI Mode—enabling millions of Nigerians to get quick answers, summaries, and conversational web exploration in their mother tongues.
The update forms part of Google’s push to cover 13 African languages, including Afrikaans, Akan, Amharic, Kinyarwanda, Afaan Oromoo, Somali, Sesotho, Kiswahili, Setswana, Wolof, and isiZulu, selected based on high search activity across the continent.
Now, a Kano student can ask complex questions in Hausa, while an Ibadan trader seeks business tips in Yorùbá—both receiving culturally nuanced AI responses via text or voice on Android, iOS, or web.
Taiwo Kola-Ogunlade, Google’s West Africa Communications Manager, said: “Building truly global Search requires nuanced local understanding. With Gemini-powered AI, we’ve made advanced capabilities relevant in Yorùbá and Hausa, so Nigerians converse naturally with Search in their mother tongues.”
To use: Open the Google app, tap AI Mode, and query in Hausa or Yorùbá for personalised guidance—breaking language barriers and making technology reflect Nigeria’s diverse identity.
MultiChoice is closing its continental streaming platform Showmax after 11 years, notifying subscribers Thursday of the board’s decision to discontinue the service in the near future to refocus on sustainable digital offerings.
MultiChoice
The email assured no immediate disruption: “You can continue streaming as usual, and no action is required from you at this time.” Showmax, launched in South Africa in 2015 and expanded across Africa, offered movies, series, documentaries, and sports to rival Netflix and others amid rising online entertainment demand.
The shutdown follows Canal+’s approved takeover of MultiChoice last year, with the French giant offering ZAR 125 per share for remaining stakes.
The deal mandates HDP ownership boosts, local content investment, and splitting MultiChoice’s SA broadcasting arm into an independent entity to meet regulations.
MultiChoice prioritised subscribers during the transition, promising advance notice on timelines.
Showmax’s exit signals consolidation pressures in Africa’s cut-throat streaming market, where global players dominate despite local content strengths.
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