🚪Lidya shuts down operations

Plus: 🏦 Zenith Bank’s Zecathon 5.0 with ₦140m

Innovation Village
October 24, 2025

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TGIF☀️

It’s been one of those weeks where the tech world just refused to sit still. From companies scrambling to fix unexpected hiccups to startups pulling off major wins, the pace has been relentless — and honestly, kind of inspiring. Every day seemed to bring a mix of chaos and clarity, the kind that reminds you how unpredictable this space really is.

But that’s what makes tech exciting, right? One moment it’s an outage that has everyone holding their breath, the next it’s a funding announcement that sparks new possibilities. Somewhere in between all that noise, we’re reminded that innovation isn’t always smooth, it’s messy, experimental, and constantly evolving.

As we wrap up the week, take a breather and enjoy the weekend . Whether you’re in it for the breakthroughs, the lessons, or just the drama of it all, there’s something here worth your attention.

Let’s dive in👇

Today’s Menu ☕️

🚪Lidya shuts down operations after a decade
🏦Zenith Bank’s Zecathon 5.0 is Back with ₦140 Million Up for Grabs!
🗼South Africa’s Forgotten “Pebble Bed Reactor” Is Coming Back to life
📶Why Africa’s Biggest Telcos Are Betting on a $30 Smartphone
🪙INTERPOL’s Crackdown on a $562 Million Crypto Scam Funding Terrorism
📲WhatsApp Introduces Username Reservation Ahead of Major Privacy Update

🚪STARTUPS

Lidya shuts down operations after a decade

Ercin Eksin and Tunde Kehinde

You know how some startups feel like they’re built for warp speed—right idea, right timing, money in the bank—until the engine sputters mid-flight? That’s Lidya right now.

The Nigerian digital lender just hit the stop button, telling customers it’s shutting down due to “severe financial distress.” Translation: operations are over, and it can’t process funds or settle claims. Hard to believe this is the same company that launched in 2016, promised 48-hour, collateral-free SME loans, raised about $16.45m (including a $6.9m Series A and an $8.3m pre-Series B), and said it disbursed $150m to 32,000 businesses.

There were detours—an expansion to Poland and the Czech Republic in 2020, a full exit by 2023, and a pivot to “Lidya Collect.” Then turbulence: frozen funds, missed payroll, the CTO leaving in Sept 2024, and the CEO in Oct 2024. Now, the lights are off...…..…continue reading

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🏦BANKING

Zenith Bank’s Zecathon 5.0 is Back with ₦140 Million Up for Grabs

Got a big idea that could change how Africa banks, trades, or builds tech? Well, Zenith Bank’s Zecathon 5.0 is calling your name — and this year’s total prize pool is a massive ₦140 million! 💰

This isn’t just another pitch contest. Zecathon 5.0 is bigger and bolder — combining a startup pitch competition and a full-scale hackathon to spotlight Africa’s most creative founders, devs, and innovators. Think of it as a launchpad for the next generation of fintech and digital disruptors.

Applications are free and open until October 31, 2025 — so if you’ve been building, dreaming, or coding something exciting, this is your cue.

According to Zenith Bank’s CEO, Dame Dr. Adaora Umeoji, this year’s edition is all about empowering innovators and shaping Africa’s digital future. Translation? It’s not just about winning cash — it’s about growing your idea into a real, scalable product..…..…continue reading

🗼INFRASTRUCTURE

South Africa’s Forgotten “Pebble Bed Reactor” Is Coming Back to life

You know how every country has that one project that was just way ahead of its time? The kind that everyone quietly shelved because the world wasn’t ready for it yet? Well, South Africa’s dusting off one of those right now — and it’s a pretty wild comeback story.

The government just confirmed it’s bringing back the Pebble Bed Modular Reactor (PBMR) — a futuristic nuclear power project that once had the world watching in awe. Energy Minister Kgosientsho Ramokgopa says it’s coming out of “care and maintenance” mode by early next year. Translation: they’re officially hitting the unpause button after more than a decade.

The PBMR isn’t your typical, massive, concrete-dome nuclear plant like Koeberg. It’s small, modular, and incredibly smart. Think of it as the Tesla of nuclear reactors. You build the parts in a factory, ship them to where they’re needed, and assemble them on-site. Cheaper, faster, and scalable...…..…continue reading

📶TELECOMS

Why Africa’s Biggest Telcos Are Betting on a $30 Smartphone

You know how we all talk about “upgrading” our phones like it’s a fashion choice? A new camera, faster chip, better selfies — the usual stuff. But there’s another kind of upgrade conversation happening right now, and it’s not about flexing. It’s about survival.

Here’s the crazy thing: over three billion people in the world live in places that already have mobile internet coverage — but they still can’t get online. Why? Because the phone itself is just too expensive. In Sub-Saharan Africa, that’s actually the biggest barrier to internet access. Not bad network coverage, not data costs — just the simple fact that millions of people can’t afford the device that gets them connected.

Well, a new coalition just formed to change that.......…continue reading

🪙CRYPTOCURRENCY

INTERPOL’s Crackdown on a $562 Million Crypto Scam Funding Terrorism

There’s a wild digital war going on right now — not with guns, but with laptops and crypto wallets. And guess what? The good guys just scored a big win.

INTERPOL and AFRIPOL teamed up for a massive two-month operation called “Operation Catalyst”, and what they uncovered in Nigeria sounds like something straight out of a cyber-thriller.

They arrested 11 suspected terrorists, including alleged senior members of extremist groups — but here’s the kicker: these guys were funding terrorism through a crypto Ponzi scheme. Yep, fake “investment platforms” that promised high returns but were really just moving money from new investors to old ones — the usual scam, except this time the cash was flowing into terror networks.

The operation exposed a scheme that stretched across 17 countries, scammed over 100,000 people, and stole a mind-blowing $562 million. Imagine thinking you’re investing to grow your savings, only to find out you’ve been funding extremists.....…continue reading

📲SOCIAL MEDIA

WhatsApp Introduces Username Reservation Ahead of Major Privacy Update

WhatsApp is rolling out some exciting beta updates that could change how we connect and protect our privacy on the app. The biggest one? Username reservation. Soon, you’ll be able to choose and reserve a unique username—so people can chat with you without needing your phone number. It’s a big move toward more privacy and number-free communication.

There’s more: WhatsApp is also testing reaction stickers for status updates (think Instagram vibes), chat limits to reduce spam messages, and a new iPad sidebar that gives the app a cleaner, more tablet-friendly look.

All these updates—still in beta—point to one thing: WhatsApp wants to make chatting simpler, safer, and a lot more fun.........…continue reading