Connect with us

General News

Paystack Launches The Stack Group as Pan-African Tech Powerhouse

Published

on

Kindly share this post

Paystack, the leading African payments platform solving complex financial challenges for businesses across the continent, has launched The Stack Group (TSG), a new parent holding company that consolidates its expanding family of technology brands.

Paystack Launches The Stack Group as Pan-African Tech Powerhouse

Paystack

Founding shareholders of TSG include global payments giant Stripe, Paystack Founder and Chief Executive Officer Shola Akinlade, and key employees from the Paystack team, with agreements formalised in October 2025 pending necessary regulatory approvals.

Since Stripe’s strategic acquisition of Paystack in 2020, the company has recorded exponential growth, achieving a 12-fold increase in payment volumes while securing licences and operations in five African markets—Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa—alongside regulatory approvals for Egypt and Rwanda, collectively representing approximately 46 percent of Africa’s gross domestic product.

This pan-African expansion, driven by a product-first strategy, has propelled Paystack to profitability at the group level, a key milestone announced alongside the TSG launch.

The formation of TSG follows closely on the heels of Paystack Microfinance Bank’s (MFB) recent debut in Nigeria, operating as a fully independent bank to internalise critical financial infrastructure and deliver banking and credit services tailored for more than 300,000 Nigerian merchants.

These integrated capabilities empower the development of seamless, compliant end-to-end money movement solutions, reinforcing Paystack’s core mission to build innovative technology that fuels African ambition and addresses unique continental business needs.

Under the TSG umbrella, the portfolio encompasses Paystack for merchant payment innovations, Zap for consumer-focused payments, Paystack MFB for banking services, and TSG Labs dedicated to pioneering emerging technologies and developing novel products both within financial technology and beyond.

Each entity maintains operational independence while sharing core values and specialised expertise in crafting solutions for Africa-specific challenges, fostering synergies across complementary domains.

Shola Akinlade, speaking on the landmark development, declared that the launch of TSG heralds an era of broader ambition, setting the strategic direction for the company’s next decade of impact.

“Having partnered with thousands of businesses continent-wide since 2016, the vast opportunities to extend support beyond payments are evident, and TSG positions us to confront the multifaceted hurdles African enterprises encounter,” Akinlade stated.

He extended gratitude to the Stripe team for their unwavering faith in Africa’s technological promise and Paystack’s capacity to pioneer transformative innovations for the continent and global markets.

This corporate restructuring coincides with Paystack’s 10-year anniversary celebrations in January 2026, underscoring a decade of resilience, innovation, and market leadership in Africa’s burgeoning digital economy.

Industry observers view TSG as a bold masterstroke that not only safeguards Paystack’s legacy but also amplifies its potential to shape the future of financial services, commerce, and technology across Africa at a time of rapid digital transformation and heightened investor interest in the region’s fintech ecosystem.


Kindly share this post

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

Continue Reading
Advertisement
Comments

General News

PalmPay, LASUBEB Deepen Efforts to Keep More Children in School

Published

on

Kindly share this post

PalmPay Group has announced a strategic partnership with Lagos State Universal Basic Education Board (LASUBEB) to recognise and reward high-performing students in selected public schools across Lagos, as a broader commitment to supporting ambition and expanding opportunities for young Nigerians.

Nigeria continues to face a significant out-of-school children challenge. According to UNICEF, 18.3 million school age children are currently out of the classroom. While access to education has improved over time, keeping children in school requires more than enrollment alone. It also depends on motivation, support, and visible pathways that show young people the long-term value of education.

Through this collaboration, PalmPay will work with LASUBEB and educators across selected public schools to identify and reward outstanding students. Selected students will be rewarded with scholarships, shopping vouchers and branded school kits designed to support their learning needs and ease part of the burden on their families.

Speaking on the partnership, Chika Nwosu, Managing Director at PalmPay, said: “Recognizing and rewarding high-performing students goes beyond celebrating excellence. It reinforces the value of education, strengthens motivation, and supports families in keeping their children in school. Through our partnership with LASUBEB, we are contributing to an ecosystem where young people are encouraged to stay engaged and pursue their ambitions.”

By working directly within the public education system, the initiative is designed to deliver support where it can make the greatest difference. When students see their efforts recognized and rewarded, it strengthens their commitment to learning and helps families see that academic discipline and consistency can open doors to real opportunity.

The partnership reflects PalmPay’s broader commitment to economic and social inclusion. As the company continues expanding financial access across Nigeria, it is also investing in initiatives that help reduce barriers for families and create more pathways for young people to thrive.

By integrating education-focused support into its wider CSR agenda, PalmPay is contributing to ongoing efforts to strengthen community outcomes, encourage aspiration, and invest in the future workforce that will drive Nigeria’s growth.


Kindly share this post
Continue Reading

General News

NCDC Enhances Monitoring, Releases Advisory amid Rising Global Hantavirus Cases

Published

on

Kindly share this post

Nigeria Centre for Disease Control (NCDC) has intensified nationwide disease surveillance following reports of a Hantavirus infection cluster connected to international cruise ship travel involving several countries.

NCDC Enhances Monitoring, Releases Advisory amid Rising Global Hantavirus Cases

Dr Jide Idris, director-general, NCDC, in a public health advisory, confirmed that Nigeria has not recorded any confirmed Hantavirus case and stated that the overall public health risk remains low.

According to the agency, the reported outbreak currently involves a limited number of confirmed and suspected infections linked to cruise ship exposure, while international investigations and contact tracing efforts continue.

The NCDC explained that the advisory was released to strengthen national preparedness and encourage vigilance against emerging infectious diseases amid growing global concern surrounding the outbreak.

Health authorities noted that Hantaviruses are mainly transmitted through exposure to infected rodents, their urine, saliva, droppings, or contaminated dust particles. Symptoms may include fever, fatigue, muscle pain, gastrointestinal illness, and in severe cases, respiratory complications.

The current outbreak has reportedly been associated with the Andes virus strain, which has shown limited human-to-human transmission through close contact in previous cases.

The NCDC stated that enhanced monitoring systems have been activated nationwide to support early detection and rapid response efforts.

The agency also urged Nigerians to maintain proper hygiene, prevent rodent infestations, safely store food items, and avoid exposure to rodents and contaminated environments.

Officials further advised the public to rely only on verified information from recognized health authorities and avoid spreading misinformation regarding the outbreak.

 

 


Kindly share this post
Continue Reading

General News

Moniepoint Partners GDG Lagos, Women Techmakers to Empower the Next Generation of Women Architects in Tech

Published

on

Kindly share this post

In a critical move to bolster talent density and accelerate Nigeria’s digital economy, Africa’s all in one financial ecosystem, Moniepoint hosted an International Women’s Day event bringing together women in technology for a day of leadership development and hands-on product building.

Held at Moniepoint’ Headquarters in Lagos, themed “Break the Pattern,” the event was organised in partnership with Women Techmakers Lagos and Google Developer Group (GDG) Lagos with participants spanning both technical and non-technical backgrounds, reflecting the breadth of women currently active across Nigeria’s digital economy.

In a keynote address delivered by Kemi Nwogu, Head of Product at Moniepoint Inc, titled “Breaking the Pattern: How Women Can Redefine the Future of Tech,” she made the case that progress for women in technology requires not just access to existing structures, but the tools and confidence to reshape them. Furthermore, Nwogu issued a bold call to action, urging attendees to move beyond traditional career playbooks and take ownership of shaping the industry’s future.

“From a young age, many girls have been subtly discouraged from pursuing science and tech. They are told sometimes directly, sometimes indirectly, that tech is too hard, too technical, or simply not for them. These patterns are not facts, they are constructs. And what has been constructed can be deconstructed! The future of tech needs leaders who build people, not just products, cultures, not just systems,”said Nwogu.

On building skills with purpose, she urged women to “show up everyday, make small, steady progress with online courses, coding bootcamps, open-source projects while leveraging the full ecosystem; take on challenging tasks as your greatest classroom using real problems to build real skills; while knowing why you’re building a skill as every learning goal can be tied to a career journey.”

This thematic fare of the event was further explored in a panel discussion, “Unscripted: Leading Beyond the Patterns We Inherited”, moderated by Atinuke Oluwabamikemi Kayode and featuring leaders from fintech, creative design, and software engineering space, including Chukwu Adaeze (Creative Director, CAV Digital), Chinenye Ogbu (Customer Experience Lead, Hydrogen), and Motunrayo Koyejo (Senior Software Engineer, Cowrywise).

The robust and extensive conversation examined the professional archetypes that have historically defined leadership in the Nigerian tech ecosystem: the engineering culture that equates output with exhaustion, the creative industry’s tendency toward top-down authority, the script-driven rigidity of customer-facing roles. The panelists also provided deep insights into how they had navigated and, in places, dismantled those patterns within their teams and organizations.

The event went beyond conversations to a hands-on workshop, Prompt to Production, facilitated by Taiwo Famakinde which guided attendees through modern product development from prompt design through rapid prototyping to the deployment of a functional application using AI tools.

A lot of the participants entered with little to no prior experience building software products. The workshop then fed directly into a Buildathon, where participants developed and deployed their own solutions in real time, with the strongest builds recognised and rewarded at the closing ceremony.

“IWD celebrations are often heavy on inspiration, but we wanted to offer something more, a proof of capability. Oftentimes, there is a gap between having ideas and actually building them, and we set out to bridge that by creating a space where women could easily deploy their ideas into live products with AI in just a few hours. By the end of the day, something that once felt complex due to the fast pace of AI started to feel possible.

“Our participants left with both the technical confidence to build and the leadership frameworks to navigate their careers on their own terms, ensuring they are no longer just participants in the tech ecosystem, but the architects of its future. They are now ready to test their ideas and lead without waiting for perfect conditions or a full team.” said Funke Olasupo, Co-organizer, Women Techmakers Lagos.

Interestingly, the “Break the Pattern” event sits within a broader investment in Nigeria’s technology talent pipeline that Moniepoint has deployed over the years. As one of Nigeria’s most significant fintech employers, the company runs a critical engine that sustains Nigeria’s formal and informal economy.

Moniepoint has invested in developer community partnerships including its ongoing collaboration with GDG Lagos as well as internal programmes designed to build engineering depth across product domains that include its highly successful Women in Tech initiative, DreamDevs, HatchDev and the government’s acclaimed 3MTT programme.

 


Kindly share this post
Continue Reading

Trending