🏢 Ezra Olubi Fired from Paystack

Plus: 🛒Takealot outperforms Amazon

Innovation Village
November 25, 2025

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Good Morning Valued Subscribers👋

Some stories hit the ecosystem with a quiet ripple, others land like a thunderclap and yesterday was definitely the latter. The news of Ezra Olubi’s sudden exit from Paystack didn’t just spark conversation, it ignited a full-blown debate across founders, operators, lawyers, and anyone who’s ever cared about how power really works inside tech companies.

Because this one isn’t just “someone left a company.” It’s co-founder vs company, loyalty vs governance, innovation vs structure, the uncomfortable but necessary tension that sits at the heart of every startup once it begins to outgrow its original DNA. With legal heat already in the mix, this is shaping up to be more than a boardroom disagreement; it’s a moment that forces the ecosystem to pause and ask hard questions about equity, control, and what happens when visionaries fall out with the institutions they built.

As we step into a new day, the takeaway is simple: even in Africa’s most celebrated startups, the human dynamics behind the code are often the most volatile part of the whole system.

Let’s dive in.👇

Today’s Menu ☕️

🏢 Ezra Olubi Fired from Paystack — Legal Battle Erupts
^✍️Nigeria, Sierra Leone Seal Digital Innovation Pacts
💵 PIC Pumps $30M into Enko’s Growth Fund
💰Woodlands Dairy Buys Ladismith Cheese in Major Expansion Move
📶 MTN Drives Stronger Nigeria–SA Trade Links
🛒 Takealot outperforms global giant Amazon

🏢FINTECH

Ezra Olubi Fired from Paystack — Legal Battle Erupts

Paystack has officially terminated the appointment of its co-founder, Ezra Olubi, escalating what began as a social media controversy into a full legal dispute. Ezra, through his lawyers, is challenging the decision as “unfair,” alleging that Paystack violated the terms of his contract by rushing the process and failing to follow due procedure.

The dispute traces back to the complex agreements created during Stripe’s 2020 acquisition of Paystack. These documents include strict clauses defining what qualifies as “Gross Misconduct,” which determines whether a founder can be fired without compensation. If Paystack proves misconduct, Ezra risks losing significant unvested equity; if Ezra proves wrongful termination, the company could face a costly settlement...........…continue reading

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✍️DIGITAL INNOVATION

Nigeria, Sierra Leone Seal Digital Innovation Pacts

Nigeria and Sierra Leone have signed several MoUs to deepen cooperation in digital innovation, covering digital public infrastructure, AI, broadband expansion, cybersecurity, digital skills, and cross-border digital trade. The agreements follow a high-level meeting in Freetown led by both countries’ ministers of communications and innovation. Alongside government deals, private-sector players also formed new partnerships across fintech, edtech, healthtech, govtech, and cloud services. A Joint Technical Working Group will oversee implementation, ensuring both nations advance a more connected, competitive, and innovation-driven West African digital economy.…...continue reading

💵FUNDING

PIC Pumps $30M into Enko’s Growth Fund

Alain Nkontchou, Managing Partner of Enko Capital

South Africa’s Public Investment Corporation (PIC) has invested $30 million into Enko Capital’s private credit fund, strengthening its long-standing partnership with the firm. The fund aims to raise up to $150 million by 2026 to provide flexible financing for African companies in need of growth capital. PIC says the move aligns with its mission to drive economic and financial inclusion, while Enko Capital highlights the investment as a continued vote of confidence since 2016. The partnership reinforces private credit’s rising role in supporting high-growth African businesses where traditional lending falls short...…...continue reading

💰ACQUISITIONS

Woodlands Dairy Buys Ladismith Cheese in Major Expansion Move

Woodlands Dairy has acquired Ladismith Cheese Company and its subsidiaries from Sea Harvest Group, strengthening its footprint in South Africa’s dairy sector and widening its product range. The deal brings Ladismith’s respected cheese, butter, and milk powder lines into the Woodlands portfolio, offering broader distribution and operational synergies across the group. Ladismith will continue operating under its current brand while the transaction awaits regulatory approval. Sea Harvest says the sale aligns with its 2025 strategy to refocus on core seafood operations and reduce debt using proceeds from the disposal.….continue reading

📶TELECOMS

MTN Drives Stronger Nigeria–SA Trade Links

MTN has strengthened Nigeria–South Africa economic relations by supporting the Presidential Trade and Investment Breakfast Dialogue held in Pretoria ahead of the G20 Summit. The high-level meeting brought together ministers, governors, CEOs, and investors to discuss boosting intra-African trade, attracting investment, and accelerating innovation. MTN Group CEO Ralph Mupita reaffirmed the company’s commitment to driving regional integration through digital and physical infrastructure. Nigeria’s economic leaders emphasized the country’s openness to investment and outlined growth targets, including a 7% GDP growth ambition by 2027..................…continue reading