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🧑🏽‍💻 Nigeria’s Data Use Hits 1.04M TB Despite Fewer Users

🧑🏽‍💻 Nigeria’s Data Use Hits 1.04M TB Despite Fewer Users

Plus:📱ORA Raises $7.5M for Super-App Expansion

Innovation Village
July 16, 2025

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Today’s Menu ☕️

🧑🏽‍💻 Nigeria’s Data Usage Soars to 1.04 Million Terabytes in May Despite Fewer Internet Users
📱ORA Technologies Raises $7.5M to Power Morocco’s Super-App Revolution
💰 BII, NAPSA, and Swedfund launch GIP Zambia with $70M to boost SME growth
🪙 MoneyBadger secures $400K in pre-seed funding
💵 Egyptian fintech startup Palm secures pre-seed funding to revolutionize goal-based saving

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🧑🏽‍💻 DATA USAGE

Nigeria’s Data Usage Soars to 1.04 Million Terabytes in May Despite Fewer Internet Users

Nigerians are using more data than ever, with the Nigerian Communications Commission (NCC) reporting a record 1.04 million terabytes consumed in May 2025. This increase comes despite a slight dip in internet users, highlighting a growing dependence on digital services for work, entertainment, and daily life. Key drivers include higher smartphone usage, the expansion of digital platforms like streaming and online banking, and improved 4G/5G infrastructure.

Internet subscriptions fell from 141.9 million in April to 141.5 million in May, due to subscriber losses by MTN and 9mobile. However, Airtel added 342,597 new users. Market share remains led by MTN (52.33%), followed by Airtel (34.17%), Globacom (11.96%), and 9mobile (1.55%).

The decline coincides with a 50% tariff hike implemented in January 2025, affecting data, calls, and SMS pricing. Despite higher costs, data consumption grew 30.9% year-on-year, with monthly usage averaging 9.86GB per user. As Nigeria’s digital economy expands, telecom providers must balance rising demand with affordable, inclusive services..…...…continue reading

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📱 SUPER APPS

ORA Technologies Raises $7.5M to Power Morocco’s Super-App Revolution

ORA Technologies, a Moroccan super-app startup based in Rabat, has raised $7.5 million in Series A funding—the largest locally sourced round in Morocco this year. Led by Azur Innovation Fund and supported by three other local investors, this brings ORA’s total funding since January 2023 to $11.9 million. Founded by Omar Alami in 2023, ORA combines services like peer-to-peer payments, food delivery via “Kooul,” e-commerce, social networking, and a new digital wallet, ORA Cash, which has already attracted over 50,000 users in just five months.

Investors were drawn to ORA’s strong traction and the broader momentum in Morocco’s retail-tech and fintech sectors, aided by supportive government policies like the Fonds Mohammed VI pour l’Investissement. ORA plans to expand its last-mile logistics network, enhance digital cash collection capabilities, and build new APIs for partners. The all-Moroccan funding round signals a shift in the local startup ecosystem, with growing confidence in homegrown tech ventures. ORA is now eyeing regional expansion while keeping its roots firmly in Morocco.......…continue reading

💰 INVESTMENTS

BII, NAPSA, and Swedfund launch GIP Zambia with $70M to boost SME growth

British International Investment (BII), Zambia’s National Pension Scheme Authority (NAPSA), and Sweden’s Swedfund have jointly launched Growth Investment Partners Zambia (GIP Zambia)—a new investment platform designed to provide long-term, flexible, local currency financing to Zambian SMEs. GIP Zambia has closed its initial round with $70 million in funding: BII contributed $37.5 million, NAPSA $17.5 million, and Swedfund $15 million. The platform aims to unlock over $300 million in capital over the next 15 years to support around 150 SMEs in vital sectors such as agriculture, manufacturing, and financial services.

GIP Zambia addresses a significant financing gap that has hindered SME growth. BII’s CEO called it “catalytic development finance,” while NAPSA sees the investment as a dual boost to Zambia’s economy and pension sustainability. Swedfund emphasized the strategic importance of providing local currency financing, and GIP Zambia CEO Musonda Chipalo highlighted the platform’s mission to empower local entrepreneurs. Backed by both domestic and international partners, GIP Zambia is set to become a cornerstone of SME development in the region.......…continue reading

🪙 CRYPTOCURRENCY

MoneyBadger secures $400K in pre-seed funding

Carel van Wyk, MoneyBadger CEO

South African fintech startup MoneyBadger has raised $400,000 in a pre-seed round to advance its mission of making cryptocurrency a viable, everyday payment method across Africa. Led by P1 Ventures and supported by angel investors from the crypto space, the funding validates MoneyBadger’s growing impact. Founded by Carel van Wyk (ex-Luno) and Carl Kritzinger (ex-FireWorks), the company created a fast, low-cost payment system using the Bitcoin Lightning Network—initially rolled out at retail giant Pick n Pay.

Today, over 1,600 Pick n Pay stores accept crypto payments through MoneyBadger, which integrates with major wallets like Binance, Luno, and VALR. The startup processes over $83,000 monthly in crypto transactions. With Bitcoin’s value rising 128% since 2022, crypto usage is accelerating. Pick n Pay now sees more than R1 million in crypto payments monthly.

MoneyBadger aims to expand across Tier 1 retailers, e-commerce platforms, and QR payment networks. With its tech-forward, open-system approach, it’s positioning itself as a leader in transforming retail payments in Africa—making crypto not just investable, but spendable.........…continue reading

💵 FINANCIAL SERVICES

Egyptian fintech startup Palm secures pre-seed funding to revolutionize goal-based saving

PALM co-founders Mazen El Kerdany (L) and Ahmed Ashour (R)

Palm, an Egyptian fintech startup revolutionizing personal finance, has closed its pre-seed funding round led by 4DX Ventures, with support from Plus VC and international angel investors. The platform aims to make saving easier and more goal-driven for users across Egypt and beyond.

Palm enables individuals to save toward key life goals—such as education, healthcare, travel, and home essentials—by blending behavioural science with smart investment strategies. Users’ funds are allocated across diversified portfolios, including fixed income, equities, and precious metals, to align with their financial targets.

Co-founded by Mazen El Kerdany and Ahmed Ashour, Palm addresses a critical gap in Egypt’s savings landscape, where people hold vast wealth in deposits, real estate, and gold but lack efficient tools for real returns.

With the new funding, Palm plans to expand its product offering, grow its user base, and promote financial literacy. Backers believe Palm can become a cornerstone of financial wellness in Africa by empowering users with meaningful returns and personalized financial planning......…continue reading