Telecom
Zeepay Raises Equity from Leading Institutions to Support its ongoing Expansion

Africa50 and Oikocredit lead equity investment in Ghanaian fintech Zeepay to support Africa expansion; The investment will support the expansion of Zeepay’s cross-border remittances and mobile financial services business across Africa and the Caribbean; The investment was made by Africa50, Oikocredit, Injaro Ghana Venture Capital Fund (IGVCF) and Verdant Capital Hybrid Fund, with a follow-on investment from Investisseurs & Partenaires (I&P).

Ghanaian fintech company Zeepay Ghana Ltd announced the completion of an equity investment by pan-African investment firms Africa50, Oikocredit, Injaro, Verdant Capital Hybrid Fund, and I&P. The funds will go towards expanding Zeepay’s operations in Africa and the Caribbean.
Zeepay is a fast-growing payment infrastructure company with a footprint in more than 20 countries globally. Since its inception in 2014, Zeepay has specialised in facilitating the instant settlement of remittances into mobile money wallets in Africa and the Caribbean on behalf of leading international money transfer organizations (IMTOs). Last year, the Company settled over 10 million remittance transactions worth over $ 3 billion in value.
The company’s vision is to promote financial inclusion and transform cross-border payments, particularly in low-income countries. This equity investment will support Zeepay in expanding its geographical footprint and in deepening its offering to IMTOs as well as senders and recipients of remittances.
Andrew Takyi-Appiah, the Founder & CEO of Zeepay Ghana Ltd, commented: “We would like to thank all our stakeholders, including our customers, shareholders, and staff, for all the support in bringing this round to a close. The raise will greatly assist us in completing our ongoing expansion drive into the rest of Africa.
“Our short to medium plan is to expand our mobile money reach into a minimum of 10 countries within the next two years, leveraging remittances in partnership with MoneyGram, and we are delighted to see this vision come through.”
“Africa50 is delighted to be partnering with Zeepay to support its leading role in the digital payments infrastructure space on the African continent and beyond. Foreign currency inflows from remittances are the lifeline for many African economies with sizable diaspora populations, especially in the current economic environment.
“Zeepay provides a local, affordable, secure, and convenient money transfer solution for the industrious African diaspora to support their loved ones,” said Raza Hasnani, Managing Director and Head of Infrastructure Investments at Africa50.
Oikocredit is delighted to partner with Zeepay as we grow our global portfolio of impactful fintechs. Remittances are essential to financial inclusion for many households in Zeepay’s countries of operation, and its digital wallets help overcome challenges around transparency, cost, convenience, speed and safety for both senders and receivers of funds.
We are pleased to partner with a fast-growing African business led by a capable team and look forward to supporting its growth,” said Samuel Kibiri, Equity Officer for Africa at Oikocredit.
”I&P’s follow-on investment in Zeepay demonstrates our conviction in the success and prospects of the business. We are proud to have partnered with a highly capable promoter and management team in delivering impressive financial and social returns over the past two years with our initial investment.
“We are excited to be joined by new like-minded investors and remain fully committed to supporting Zeepay to attain its goal of becoming a leading pan-African mobile financial services business impacting the lives of millions of underserved users across Africa and the Caribbean,” said Sebastien Boyé, Co-CEO of I&P.
“The Injaro team is honoured to partner with the Zeepay team, which Andrew Takyi-Appiah, a dynamic and visionary young Ghanaian entrepreneur, leads. We look forward to working together to achieve the ambitious goal of creating a successful Ghanaian multinational and a market leader in the fintech space.
“It is especially gratifying to finance Zeepay with Ghanaian capital as this ensures that profits from this investment flow back into the local economy to trigger a virtuous cycle of economic development.
“We believe that this investment represents an important first step in building linkages between Ghana’s pension funds and exceptional local businesses, which are important drivers of Ghana’s economic growth”, remarked Jerry Parkes, Managing Director of Injaro Investment Advisors Limited.
Kwabena Appenteng, Director at Verdant Capital, said, “Zeepay offers investors like Verdant an attractive combination of hard currency earnings through its remittance-to-the-wallet business and growth opportunities across the continent. Testament to the strength of the management team at Zeepay: the business reached profitability earlier in its lifecycle than other fintechs and has maintained strong profitability while growing and diversifying its footprint and revenue base.
Telecom
NIGCOMSAT Supports Startups Growth with the Launch of Accelerator 3.0

The Nigerian Communications Satellite Limited (NIGCOMSAT) has unveiled Accelerator Cohort 3.0 as part of efforts to strengthen Nigeria’s space technology ecosystem and support the growth of local startups.

The initiative will be a major highlight of the 2026 Nigerian Satellite Week scheduled to hold on March 30 and 31 in Abuja, where key players in the satellite and digital infrastructure sectors are expected to converge.
In a statement signed by Stephen Kwande, the Head of Corporate Communications, the company described the new accelerator as its most direct investment in building long-term competitiveness within Nigeria’s space economy.
According to NIGCOMSAT, the programme is designed to support early-stage ventures working across satellite applications, last-mile connectivity, agriculture, logistics and other areas where space-based technology can drive impact.
The company said previous cohorts of the accelerator had already contributed to developing innovative solutions and building the human capacity needed to position Nigeria for the next phase of the global space industry.
“With Cohort 3.0, we are making it clear that the accelerator is not a pilot project but a permanent feature of how Nigeria develops its space-tech companies,” the statement said.
NIGCOMSAT noted that the Nigerian Satellite Week has grown into a major platform for policy discussions, partnerships and investment in the sector.
The 2026 edition is expected to attract top government officials, defence leaders, development finance institutions and technology entrepreneurs from across Africa.
Jane Egerton-Idehen, managing director of NIGCOMSAT, said the event also marks two decades of Nigeria’s journey in the space economy.
“Twenty years ago, Nigeria took a bold step to secure its place in space. What we are seeing today is the result of consistent effort and vision,” she said.
She added that the company is focused on shaping the next phase of growth through innovation, partnerships and investment in local talent.
NIGCOMSAT also highlighted recent milestones, including a Low Earth Orbit connectivity partnership with Eutelsat, improved revenue performance and increased global recognition in satellite operations.
Other activities lined up for the event include a Startup Demo Day, where selected African startups will pitch their ideas to investors, and a stakeholders’ forum to discuss policies and infrastructure needed to scale Nigeria’s satellite economy.
The company said the initiative reflects the growing role of satellite technology in national development, particularly in areas such as communications, security and digital services.
NIGCOMSAT, established in 2006 and wholly owned by the Federal Government, provides satellite-based services including telecommunications, broadcasting and broadband across Nigeria and parts of Africa.
Telecom
FG Unveils Digital Economy Research Fund Scheme

The Federal Government has unveiled a N12bn Digital Economy Research Fund aimed at strengthening evidence-based policymaking and supporting Nigeria’s long-term digital transformation agenda.

Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, disclosed this in a statement issued on Saturday, announcing the launch of an expression of interest for the National Digital Economy Research Clusters.
“Today my heart is filled with deep joy as we announce the Expression of Interest for the National Digital Economy Research Clusters, a N12bn research funding scheme designed to place ideas, evidence, and research at the centre of Nigeria’s digital transformation,” the minister said.
According to him, the programme is being funded under Project BRIDGE, a federal initiative to deploy 90,000 kilometres of fibre optic backbone infrastructure across Nigeria to expand connectivity and enable a modern digital economy.
“This programme is being funded under Project BRIDGE, our initiative to deploy 90,000km of fibre optic backbone infrastructure across Nigeria to expand connectivity and enable a modern digital economy,” he said.
The minister noted that as the government expands digital infrastructure nationwide, research-backed approaches are required to ensure inclusive benefits.
“As we deepen our digital infrastructure coverage, thoughtful, evidence-based approaches are required to be deployed in society to ensure everyone benefits from this significant investment,” he added.
He observed that digital policy decisions are often shaped by market forces and political cycles rather than rigorous research and long-term thinking. “Too often, the ideas shaping digital policy come predominantly from markets and political cycles rather than from research, evidence, and long-term thinking,” the statement said.
Under the initiative, six national research clusters will be established across key pillars of the digital economy, including connectivity and meaningful use; digital public infrastructure and government services; digital skills and human capital development; digital economy and jobs; online trust and consumer protection; as well as artificial intelligence and emerging technologies.
The clusters will be led by up to 36 professors drawn from Nigerian universities, working alongside international academic partners, with more than 200 researchers, including postdoctoral fellows and PhD candidates, expected to generate policy-relevant research.
“For me, the goal goes beyond research output. We are looking for better policies that lead to stronger institutions and a more prosperous society,” the minister said.
He described the initiative as one of the ministry’s most meaningful programmes, noting that it is intended to produce ideas that will outlast any single administration. “Because nations that lead the future are not simply those that deploy infrastructure; they are the ones that cultivate ideas,” he said.
The ministry invited academic and research institutions interested in participating to review the Terms of Reference released alongside the EOI and submit proposals to lead or collaborate within the national research clusters.
It added that a press conference would be held in the coming week to provide further details and engagement opportunities for vice-chancellors and research institutions across the country.
Telecom
NCC Cracks Down: Telcos to Refund Users for Network Disruptions

Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to compensate subscribers experiencing poor network service across the country.

The Commission said the directive was part of efforts to ensure that consumers are not made to bear the burden of service failures when operators fall short of required standards.
Under the new regulation, telecom operators will be required to provide compensation directly to affected subscribers for breaches of Quality of Service (QoS) Key Performance Indicators (KPIs).
According to the NCC, the compensation will be issued in the form of airtime credits, calculated based on subscribers’ average usage and their presence within specific Local Government Areas where service disruptions occur.
The Commission emphasised that telecommunications services remain critical to economic activities, social interactions, and access to digital opportunities, noting that poor service delivery negatively impacts productivity and public confidence.
It explained that while regulatory fines have traditionally been used to sanction operators, the new approach prioritises consumer protection and strengthens accountability within the telecommunications sector.
The NCC added that the measure would complement existing efforts to monitor service quality and enforce compliance with performance standards.
In addition, the Commission directed tower companies responsible for telecom infrastructure, such as network masts, to reinvest fines imposed on them into infrastructure upgrades with measurable outcomes.
The regulator reiterated its commitment to ensuring that operators invest in network resilience, expand capacity, and improve infrastructure to meet growing demand.
It also pledged to continue deploying regulatory mechanisms that promote fairness, transparency, and accountability across the industry, while ensuring that subscribers receive the quality of service they deserve.
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