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M-KOPA Reaches 5m Customers, Unlocking $1.5Bn in Credit across 5 Markets

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M-KOPA, emerging market fintech, announced that it has surpassed 5 million customers across Kenya, Uganda, Nigeria, Ghana and South Africa. Two million of these customers have come onboard in the past 15 months.

M-KOPA’s innovative model makes affordable smartphones embedded with financial services available to ‘Every Day Earners’: the wide majority of African adults who earn their income daily but struggle to afford smartphones and typically fail to qualify for conventional financial services.

According to the World Bank, 75% of adults in sub-Saharan Africa remain financially excluded. To date, M-KOPA has supported its customer base with more than US $1.5 billion in financing.

Starting with smartphone access, customers gain entry to the digital economy with an affordable daily repayment model, which fits their daily income and cash flow and makes it easier to manage. By leveraging rich payments data and proprietary AI-driven analytics, M-KOPA builds a credit record for each customer which forms the foundation for a long-term financial relationship for lower cost digital loans, affordable data subscriptions and medical insurance.

According to M-KOPA co-founder and CEO, Jesse Moore: “We are thrilled to welcome our 5 millionth customer to M-KOPA this month. The scale of our operations and our positive impact on customers is what keeps us working hard to go even further. We’re just getting started; the opportunity for much larger impact and scale is right in front of us.”

M-KOPA also published its 2024 Impact Report this week, in which the company annually releases its progress against key social and environmental impact metrics.  As with prior reports, the 2024 survey of M-KOPA customers was undertaken by a third-party company – Dalberg Research.

Key impact highlights from the 2024 report include:

– 92% confirm that M-KOPA’s financing has made technology more affordable.

– 80% of customers report an improved quality of life thanks to M-KOPA’s products.

– 70% credit M-KOPA with helping them achieve their financial goals, demonstrating the company’s contribution to financial empowerment.

– 62% use their M-KOPA product to generate income

The company is having a major impact in improving digital access in Africa. Nearly 2 million customers are first-time mobile internet users and 40% are women. M-KOPA also built the first and largest smartphone assembly factory in Kenya – which has produced more than 1m phones locally and further reduced the cost of access.

As with prior reports, M-KOPA’s board and management use the annual impact report to help shape forward company strategy. Based on this year’s findings, M-KOPA is working to further increase its percentage of female customers to 50%, to reduce its carbon footprint by making circularity central to its smartphone supply chain, and to continue pioneering green products like electric motorbikes that contribute to the health and sustainability of the communities where it operates.

M-KOPA’s Chief Product Officer Nena Sanderson, notes: “Our product and services build pathways to prosperity for our customers and agents, enabling them to overcome financial setbacks, generate income and progress towards the futures they aspire to. Our impact extends beyond our customers, reaching their families and communities, and contributing to building a more sustainable world.”

Headquartered in London, UK, M-KOPA now creates employment for more than 3,000 staff and 30,000 commission-based sales agents across Kenya, Uganda, Nigeria, Ghana and South Africa.

The company has been recognised by the Financial Times as one of Africa’s Fastest Growing Companies for the past 3 years, and by Time Magazine as one of the 100 Most Influential Companies globally for the past 2 years.


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NITDA says JICA Partnership Lifts Startup Ecosystem on Global Map

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Kashifu Inuwa, CCIE, the Director General, National Information Technology Development Agency (NITDA), has disclosed that the Agency’s partnership with Japan International Cooperation Agency (JICA) has put Nigeria’s Startup ecosystem on the global map.

He made this statement during a meeting with JICA President, Dr. Akihiko Tanaka when he visited the National Centre for Artificial Intelligence and Robotics (NCAIR) in Abuja, a Special Purpose Vehicle office established by NITDA.

While highlighting the impact of the Agency’s partnership with JICA Inuwa, stated that “Through this collaboration, we have sponsored Nigerian startups to participate in tech exhibitions and conferences across Africa and the Middle East.

“Additionally, we’ve connected them with Japanese corporations, such as Mitsubishi, resulting in Training for 112 startup founders from 56 companies and creation of over 300 direct jobs in Nigeria

He said, “Established in 2001, NITDA’s mandate is to implement the national IT policy. At inception, less than 500,000 Nigerians had access to computers. Today, we have made significant progress in bridging the digital divide.” He noted that there is significant growth in Nigeria’s ICT sector, from less than 0.5 per cent to over 16 per cent of GDP, with 120 million citizens now having computer access.

Inuwa, citing the World Bank research predicting a global talent deficit of 85 million by 2030, potentially leading to $8.5 trillion in lost annual value, he, however, suggested that to bridge this looming gap, “A strategic talent pipeline between Nigeria and Japan can leverage Nigeria’s youthful population to address Japan’s aging workforce challenges, creating a symbiotic partnership.”

He noted that NITDA has articulated its Strategic Roadmap and Action Plan (SRAP 2.0). Outlining the eight key pillars to drive Nigeria’s digital transformation, the NITDA boss emphasized that while Fostering Digital Literacy and Cultivating, which will drive the development of a skilled workforce to drive Nigeria’s digital economy, Building of a Robust Technology Research Ecosystem will encourage innovation and R&D in emerging technologies.

The NITDA boss said, “The Agency also plans to strengthen policy implementation and legal framework, promoting inclusive access to digital infrastructure and services, strengthen cybersecurity, enhance digital trust and nurture an innovative and entrepreneurial ecosystem and build a  strategic partnership and collaboration.

He added that the Agency will focus on internal transformation and reforms so the agency can be more agile and have an environment that is psychologically safe for everyone to contribute.

“Internally, NITDA is undergoing transformational reforms to enhance agility and foster a psychologically safe work environment, encouraging active contribution from all stakeholders.”

In his remarks, Dr. Tanaka praised NITDA’s dedication, stating that partnering with NITDA was a wise decision due to its vital role in global development.

He emphasized that co-creation is JICA’s guiding principle, adding that the approach aligns with JICA’s mission to collaborate with organisations like NITDA to drive growth and address global challenges.

“Co-creation is the overarching principle guiding our activities, especially in harnessing information technology to drive sustainable development. Additionally, JICA acknowledges Nigeria’s proactive strides in advancing information technology and Artificial Intelligence, and we are committed to collaborating on these endeavours,” he noted.

While stressing that the strategic application of these technologies will foster a surge in startup creation among young entrepreneurs in Nigeria, he advocated for harnessing the creative potential of young engineers, scientists, and entrepreneurs to develop innovative solutions that enhance societal well-being.


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Okra Joins Cloud Hosting Race to Challenge AWS, Azure

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Okra, Nigerian fintech startu, has launched a new cloud infrastructure service, making it the latest of several startups in the country that aim to provide a local alternative to cloud giants like Amazon Web Services and Microsoft Azure.

Okra Joins Cloud Hosting Race to Challenge AWS, Azure

David Peterside and Ashiru Jituboh, Okra

According to a post on LinkedIn, Okra’s “Nebula” is an infrastructure-as-a-service (IaaS) offering built on Tier 3 and Tier 4 data centres.

Okra said the service offers low latency and reliability “on par with global players like AWS and Azure” with less than two hours downtime a year.

Okra also said Nebula is specifically designed to comply with local data residency laws.

However, the biggest selling point is that Nebula customers can pay in naira or other local currencies “for predictable and more affordable rates.”

That’s a key provision for companies in Nigeria (as well as other countries in Africa) where currency devaluation and fluctuating foreign currency exchange rates often have a serious impact on the bottom line. Foreign cloud providers typically charge only in US dollars.

Fara Ashiru,CEO, Okra, said in the LinkedIn post that Nebula presents a viable and cost-effective alternative to AWS and Azure, who currently dominate Nigeria’s cloud market.

“For too long, Africa has leaned on imported solutions, paying premiums for software and services – but as we say, ‘Yes, there is rice at home!’,” she said. “And now, there’s a cloud built here, for us, and it’s just as good – if not better.”

Ashiru added that Okra’s own infrastructure is already using Nebula. “The first round of access is already with our incredible partners. The next round opens soon.”

Okra first announced plans for Nebula in July after securing US$16.5 million in funding and the backing of VC firm TLcom.

Okra got its start offering open APIs for banks and financial service providers to access customer data, but decided to shift its focus to cloud infrastructure as the open-banking market was too small and competitive, according to African investment firm Daba.

Okra also faces healthy competition in Nigeria’s cloud market from startups like Nobus, Galaxy and Layer3, all of whom are also positioning themselves as an alternative to AWS and Azure and offering payment in local currencies.

 


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How To Sell Amazon Gift Cards For Cash In Nigeria And Ghana

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Learn how to sell your Amazon gift cards for cash in Nigeria and Ghana quickly and securely with Cardtonic. Get the best rates and instant payments today.

You know that moment when you open a gift from a distant auntie or an old school friend, and it’s an Amazon gift card? You smile, thank them, but deep down you’re thinking, “What am I supposed to do with this here in Nigeria (or Ghana)?” It’s not like you can walk into the local mall and hand over your Amazon card for a plate of jollof, right?

But before you toss that card aside or start planning who to re-gift it to, there’s a better idea: Sell it. Yep, you can convert that Amazon gift card into cash. Actual Naira or Cedis you can use to settle that pressing data bundle or even dash your account some extra change.

In this guide, we’ll walk through the best places to sell gift cards, like Amazon in Nigeria and Ghana, how to do it easily on platforms like Cardtonic, and why Cardtonic is basically your best bet. Let’s get started.

Where To Sell Amazon Gift Cards In Nigeria And Ghana

So, let’s talk about where exactly you can convert that Amazon gift card to naira or cedis. Now, there are a few places people typically try—some more reliable than others. You’ve got platforms like Jiji and even Facebook Marketplace, where you can put your gift card up for sale and hope someone’s interested.

The catch? You’re relying on individual buyers. That means lots of back-and-forth, waiting for offers, and sometimes dealing with unserious buyers who’ll disappear once it’s time to pay. It’s not exactly the smoothest experience, especially when you need cash fast.

And honestly, no one has time for that. That’s why Cardtonic stands out. It’s the smarter, faster way to sell Amazon gift cards in Nigeria and Ghana without all the unnecessary wahala.

Cardtonic offers you an instant transaction process, competitive rates, and, most importantly, the peace of mind that comes with using a trusted platform.

At the end of the day, selling on random platforms might work for some people, but why gamble with your money when you can go straight to a trusted platform like Cardtonic and get it done with zero hassle?

How To Sell Amazon Gift Card On Cardtonic

Now that we’ve established why Cardtonic is the best option for selling your Amazon gift cards, let’s get into the “how.” Thankfully, the process is simple. First, download the Cardtonic app. On the dashboard, click “sell gift card,” select the gift card category and subcategory, upload the gift card picture, and click submit.

  1. Open the Cardtonic app and click on the “Sell Gift Card” button. This takes you straight to the part where you get to trade that Amazon gift card for cash.
  2. Now, you’ll need to select the gift card category. Since we’re talking about Amazon gift cards here, you’ll want to pick that option from the list of categories.
  3. After that, pick the subcategory. For instance, if you’re holding a US Amazon gift card with a value of $25–49, that’s the one you should select.
  4. Enter the amount on your card. It could be $10, $25, or whatever is printed on your Amazon gift card. This part ensures you get the correct rate.
  5. If you have an e-code, you can simply input the code. But if it’s a physical card, you’ll need to upload a clear picture of both the front and back of the card. Make sure the code is visible, or you’ll end up having to redo it.
  6. Hit the Proceed button. Almost there! You’ll see a summary page that lets you double-check everything—this is the part where you make sure all the details are correct before moving on.
  7. Finally, review the trade terms to ensure you’re comfortable with the deal, then click Submit and you’re done!

Within a short time, your transaction will be processed, and your cash will be sitting pretty in your Cardtonic wallet, ready for you to withdraw into your bank account. That’s how easy it is to sell your Amazon gift card on Cardtonic.

3 Reasons Why You Should Trade Your Amazon Gift Card On Cardtonic

Now, you’re probably wondering, “Why Cardtonic, though? What makes it stand out?” I mean, there are other platforms and even Facebook groups where people claim to buy gift cards online, right? Well, Cardtonic offers competitive rates, a secure platform, and fast transactions—making it the best choice for anyone looking to sell their gift cards in Nigeria and Ghana.

  1. Competitive Rates:

We all know how frustrating it can be when someone tries to “price” your gift card as if you’re begging them. On Cardtonic, you won’t get those ridiculous offers that make you feel like you’re being cheated.

The platform consistently offers some of the best rates in the market, so you know you’re getting good value for your Amazon gift card. No one wants to sell a $100 gift card only to get peanuts in return. With Cardtonic, you’re getting a fair deal, every time.

  1. Fast Transactions:

You know how in Nigeria and Ghana, when someone says, “I’ll pay you tomorrow,” that tomorrow can stretch into next week? Yeah, none of that with Cardtonic.

Once you submit your trade, the process is fast and reliable. You can expect to have the money in your Cardtonic wallet in minutes, and from there, it’s just a quick transfer to your bank account.

  1. Trusted and Secure:

This one is a no-brainer. When dealing with money online, especially in places where “419” (scam) stories are all too common, security is everything. Cardtonic is a trusted platform with thousands of users who’ve been trading safely for years.

Your information and transaction details are protected, and there’s no risk of waking up to find that your gift card (and money) has vanished into thin air. The app is secure, and the transactions are transparent. You’re in safe hands.

Frequently Asked Questions About Converting Amazon Gift Cards To Cash

  1. Can An Amazon Card Be Used In Ghana?

Technically, yes, Amazon gift cards can be used in Ghana, but there is a big catch: Amazon doesn’t have a local marketplace in Ghana (or Nigeria, for that matter). This means you can use your gift card to shop on Amazon’s international sites, like Amazon.com, but you’ll still need to factor in shipping costs and wait times to get items delivered to Ghana.

  1. How Do I Convert My Amazon Gift Card To Naira?

The quickest way to convert your Amazon gift card to Naira is by using Cardtonic. Simply open the app or website, click on “Sell Gift Card,” select Amazon as your gift card category, and follow the steps to complete the trade. Within minutes, you’ll have the Naira equivalent in your wallet, which you can then withdraw directly into your bank account.

  1. Can You Transfer Money From Amazon Gift Card To Bank Account?

Unfortunately, you can’t directly transfer the balance from an Amazon gift card to a bank account. Amazon gift cards are meant to be used for purchases on Amazon’s platforms. However, platforms like Cardtonic allow you to sell your Amazon gift card for cash, which you can then withdraw into your bank account.

  1. Can You Send An Amazon Gift Card To Someone Else?

Absolutely! Amazon gift cards are meant to be shared. Whether it’s a birthday gift or a token of appreciation, you can send an Amazon gift card to anyone via email or even as a physical card. The recipient can then choose to use the card to shop on Amazon or, like we’ve been discussing, sell it for cash.

  1. Where Can I Sell My Amazon Gift Card Instantly?

If you’re looking to sell your Amazon gift card instantly, Cardtonic is the best option. With its fast and reliable service, you can trade your Amazon gift card and get your cash in minutes.

Conclusion

Turning your Amazon gift card into cash in Nigeria or Ghana is quick and easy with Cardtonic. You get great rates, fast transactions, and a secure platform that takes all the stress out of selling your gift cards. Whether you’re looking to convert your card into Naira or Cedis, Cardtonic makes the process seamless.

Ready to get started? Download the Cardtonic app today and trade your gift card for cash instantly.


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