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💼 BAS Group acquires majority stake in Nigerian fintech Zuvy

💼 BAS Group acquires majority stake in Nigerian fintech Zuvy

Plus: 📺 MultiChoice Slashes DStv Decoder Price

Innovation Village
June 26, 2025

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Today’s Menu ☕️

💼 BAS Group acquires majority stake in Nigerian fintech Zuvy to expand SME lending capabilities
📺 MultiChoice Slashes DStv Decoder Price, Offers Free Upgrade
🛒 South Africa launches two new eCommerce platforms to boost local trade and job creation
📡 Starlink resumes new subscriptions in Nairobi after seven-month freeze

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💼 ACQUISITION

BAS Group acquires majority stake in Nigerian fintech Zuvy to expand SME lending capabilities

In a strategic move to deepen its footprint in the fintech space, Nigeria’s diversified financial services firm BAS Group has acquired a majority stake in Zuvy, a fast-growing local startup specializing in invoice financing for small and medium-sized enterprises (SMEs). While the exact financial terms of the deal remain undisclosed, BAS Group now holds over 50% ownership in Zuvy.

The acquisition is estimated to be valued between $1.5 million and $3 million, based on Zuvy’s previously reported $4.5 million in total funding — of which only $580,000 was equity — and depending on valuation growth and revenue multiples. As part of the acquisition, Adnan Kayode, Chief Operating Officer of BAS Group, will assume leadership of Zuvy. The startup will continue to operate independently, and no layoffs are expected as a result of the transition.

Founded in 2023 by former Google product manager Angel Onuoha and entrepreneur Ahmed Shehu, Zuvy provides invoice financing solutions to businesses in sectors such as FMCG, healthcare, and supply chain logistics. In just two years, the company has financed over ₦1 billion worth of invoices for more than 1,500 small businesses, helping to bridge liquidity gaps and improve cash flow for underserved enterprises.....…...…continue reading

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📺 MEDIA

MultiChoice Slashes DStv Decoder Price, Offers Free Upgrade

MultiChoice Nigeria has slashed the price of its DStv decoder by 50%, from ₦20,000 to ₦10,000, as part of its “We’ve Got You” campaign running from June 16 to July 31, 2025. The promotion includes a free automatic upgrade to a higher package tier for new, existing, and returning customers.

With this offer, subscribers get an HD decoder, antenna, installation materials, and one month of DStv Compact, which is upgraded to Compact Plus at no extra cost. The initiative aims to reward loyalty, regain lost subscribers, and respond to rising competition from streaming services and economic hardship.

CEO John Ugbe emphasized the company's commitment to affordability and value, noting that DStv seeks to serve all household members—not just sports fans. The seamless upgrade process and enriched content lineup reflect MultiChoice’s strategy to retain customers and strengthen its market position amidst changing viewer preferences and financial pressures.........……continue reading

🛒 ECOMMERCE

South Africa launches two new eCommerce platforms to boost local trade and job creation

In a bold move to strengthen the local digital economy, the South African government — through Proudly SA and the Department of Trade, Industry and Competition (DTIC) — is set to launch two new eCommerce platforms on July 1, 2025. These platforms, Shop Proudly SA (for consumers) and the Market Access Platform (MAP) (for businesses), aim to promote locally made products, support small and medium enterprises (SMEs), and stimulate job creation across the country.

This initiative comes at a time when there is growing public support for homegrown brands and a renewed focus on economic self-reliance. The platforms will feature over 1,700 locally manufactured products, making it easier for both everyday consumers and corporate procurement officers to discover and purchase South African goods.

Shop Proudly SA will serve as a consumer-facing marketplace, while MAP is designed to connect local producers with larger buyers, including retailers, wholesalers, and government departments. The goal is to reclaim market share from cheaper imports, strengthen domestic manufacturing, and help small businesses scale by giving them access to broader markets — a uniquely South African take on the global eCommerce model.........……continue reading

📡 INTERNET

Starlink resumes new subscriptions in Nairobi after seven-month freeze

Elon Musk’s satellite internet service, Starlink, has officially resumed accepting new customer subscriptions in Nairobi and surrounding counties in Kenya, following a seven-month suspension that began in November 2024.

The freeze affected high-demand regions including Kiambu, Machakos, Kajiado, and Murang’a. According to Starlink, the pause was necessary due to a network capacity imbalance caused by a surge in user demand that exceeded the system’s ability to maintain optimal service quality.

In a statement, the company explained that the temporary halt allowed it to focus on infrastructure upgrades to support the growing number of users. A key milestone in this effort was the launch of Starlink’s second African ground station — or Point of Presence (PoP) — in Nairobi in January 2025. This development significantly boosted the network’s capacity and reduced latency for users across Kenya.....……continue reading