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🛑 FCCPC Slams Rogue Loan Apps with ₦100m Penalty

🛑 FCCPC Slams Rogue Loan Apps with ₦100m Penalty

Plus: 📰 Nielsen exits South Africa

Innovation Village
September 04, 2025

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Today’s Menu ☕️

🛑 ₦100m Penalty Awaits Rogue Loan Apps as FCCPC Unveils Landmark Rules
🌐 Google avoids forced sale of Chrome in landmark antitrust decision
📰 Nielsen exits South Africa
🏦 UBA, Mastercard Launch Prepaid Card for Inclusion
🌱 FMO invests in sustainable food systems with $35M stake in AGRI3 Fund
📱Instagram Is Finally Launching an iPad App
🏫 SA edtech startup The Invigilator secures $11 million to accelerate global AI expansion

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🛑 LENDING

₦100m Penalty Awaits Rogue Loan Apps as FCCPC Unveils Landmark Rules

The Federal Competition and Consumer Protection Commission (FCCPC) has introduced the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations (DEON), 2025, to tackle widespread abuse in Nigeria’s digital lending sector. Effective July 21, 2025, the rules address consumer complaints of harassment, data breaches, exploitative interest rates, and unethical loan recovery tactics.

All digital lenders, including MMOs and DMLs, must register with the FCCPC within 90 days or face penalties of up to ₦100 million or 1% of turnover, alongside potential disqualification of directors. The regulations prohibit automatic lending, ban unethical marketing, enforce transparent loan terms, and mandate local ownership for airtime and data lending services.

According to FCCPC CEO Tunji Bello, the framework ensures innovation thrives responsibly, protecting millions of Nigerians from predatory digital lending practices......…continue reading

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🌐 GOOGLE

Google avoids forced sale of Chrome in landmark antitrust decision

A U.S. federal judge has ruled that Google illegally maintained its search monopoly but will not be forced to sell its Chrome browser, rejecting regulators’ push for a structural breakup. Instead, the court imposed new restrictions: Google can’t make exclusive app-preloading deals with device makers, tie revenue-sharing to app placement, or block rivals from access to crucial search data.

The ruling lets Google keep Chrome and Android intact but requires it to share some search data with competitors to help narrow the “scale gap.” Seen as a partial win for Google, the decision still tightens oversight, and an appeal is likely.....…continue reading

📰 NEWS

Nielsen exits South Africa

Global media analytics firm Nielsen has announced plans to exit South Africa within the next 12 months, ending its decades-long role in audience measurement for the country’s media industry. The company, which provides data services to the Broadcast Research Council (BRC), said the decision followed a business review.

In response, the BRC is finalizing a new service provider and preparing interim measures to ensure uninterrupted TV and radio audience data, with a full transition expected to take up to 18 months. Nielsen’s departure follows a wave of international companies scaling back in South Africa, even as new entrants in travel, leisure, and automotive sectors signal continued foreign investment.......…continue reading

🏦BANKING

UBA, Mastercard Launch Prepaid Card for Inclusion

United Bank for Africa (UBA) has partnered with Mastercard to introduce a prepaid card aimed at tackling one of Africa’s biggest financial barriers — the large unbanked population. Unlike traditional banking products, the card does not require a bank account, making it accessible to millions who have been excluded from formal financial services. Users can load funds and make secure payments for everyday needs such as shopping, bill payments, and in-store or online purchases, aligning with Africa’s growing shift toward cashless transactions and e-commerce.

The card is expected to support financial inclusion by providing people with a safe entry point into the digital economy, while also building trust and pathways toward more advanced financial services like credit and savings. However, challenges such as limited awareness, digital literacy gaps, and concerns about fraud could affect adoption. To succeed, UBA and Mastercard will need to run strong education and awareness campaigns while ensuring wide merchant acceptance....…..continue reading

🌱AGRICULTURE

FMO invests in sustainable food systems with $35M stake in AGRI3 Fund

The Dutch development finance institution FMO has proposed a $35 million first-loss equity investment in the AGRI3 Fund, a blended finance initiative launched in 2020 to promote sustainable food and agriculture systems in emerging markets. By taking on first-loss risk, FMO aims to attract more private and institutional investors to the fund, which supports climate-resilient farming while protecting forests and ecosystems.

Jointly advised by Fount and Cardano, AGRI3 works with financial institutions by offering guarantees, technical assistance, and incentives to boost investment in climate-smart agriculture...…..continue reading

📱SOCIAL MEDIA

Instagram Is Finally Launching an iPad App

After more than a decade of requests, Instagram is finally developing a dedicated iPad app. The move comes as tablets — especially iPads — have become central to content consumption, creativity, and productivity. A native app could offer users a more immersive experience, while giving creators and businesses better tools to edit, showcase, and engage on the larger screen.

The delay likely stemmed from Instagram’s mobile-first strategy, but with rivals like TikTok and YouTube Shorts dominating smartphones, the iPad launch may open new opportunities for casual browsing and professional workflows. How Meta adapts the app to leverage iPad features will determine its long-term impact...…..continue reading