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Mono, Nigerian Fintech Startup Secures $15m Series A

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Mono, Nigeria’s tech-driven fintech startup, has closed a $15,000,000 Series A funding round led by Tiger Global.

Target Global, General Catalyst and SBI Investment are new investors who joined in backing Mono in the round. Existing investors include Entree Capital, Lateral Capital, GPIC, Acuity VC, and Ingressive Capital.

Mono leverages technology to power the digital economy in Africa, using open banking as a layer for financial data, identity data, and bank transfer payments for businesses. The company connects bank accounts to financial applications.

The company’s CEO, Abdul Hassan and CTO, Prakhar Singh founded the company last year to make access to financial accounts across Africa, secure and reliable.

Mono’s DirectPay product makes payments transactions seamless for Nigerian businesses. Entrepreneurs can transfer money to customers with the company’s web or mobile app without using debit cards.

With offices in Nigeria, Kenya and Ghana, Mono affirms to have 1,200 developers and businesses leveraging its services to build their products, processed and delivered to its partners over 200,000,000 transaction data

The company is building user-focused and innovative products that will continue to go beyond limits in accessing data and payments in Open Banking, across Africa.

Backed by leading investors including YCombinator, Entree Capital, Ingressive Capital, Magic Fund and Lateral Capital, the company has raised $2,650,000 in total funding prior to the current round.

In the last two months, the company asserts to have connected over 150,000 bank accounts, with a growth of 45x year-on-year and an increased staff base.

Last September, the company completed a $500,000 pre-seed investment and participated in Y Combinator’s most recent winter batch, raising $2,000,000 in seed funding after graduation.

Building the best open banking platform in Africa, the company plans to complete its move to South Africa via a partnership with Absa bank this year.


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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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MTN Nigeria Non-Executive Director Mazen Mroue Quits to Focus on Group Role

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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 Non-Executive Director Mazen Mroue Quits to Focus on Group Role

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.


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Google Adds Yorùbá, Hausa to AI Search, Boosting Access for Millions of Nigerians

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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.

Google Adds Yorùbá, Hausa to AI Search, Boosting Access for Millions of Nigerians

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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.


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MultiChoice Shuts Down Showmax After 11 Years Amid Streaming Wars

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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 Shuts Down Showmax After 11 Years Amid Streaming Wars

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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