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🏦 NIPOST Redefines Its Role with Financial and Digital Expansion

🏦 NIPOST Redefines Its Role with Financial and Digital Expansion

Plus:📱MTN Nigeria Sues 20 Banks Over SleekChip Debt

Innovation Village
May 21, 2025

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Today’s Menu ☕️

🏦 NIPOST Redefines Its Role with Financial and Digital Expansion
💻 Nigeria’s Digital Economy Attracts $191 Million FDI in Q1 2024, Aims for $5 Billion in Startup Investment
📱MTN Nigeria Sues 20 Banks Over SleekChip Debt
🚙 Sylndr Raises $15.7m to Expand Mobility Ecosystem in Egypt’s Used-Car Market
📱Google Launches NotebookLM Mobile App, Bringing AI-Powered Research to Your Pocket
💵 ElGameya Raises 7-Figure Investment to Boost Digital Savings in Egypt
💻 Grok 3 Lands on Microsoft Azure: A Powerful New AI Model with Enterprise-Grade Muscle

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🏦 FINANCIAL INCLUSION

NIPOST Redefines Its Role with Financial and Digital Expansion

Postmaster General, Tola Odeyemi

The Nigerian Postal Service (NIPOST) is redefining its purpose and service delivery in the digital age, as it resumes full-scale financial operations, rolls out inclusive digital platforms, and deepens partnerships across government and private sectors. With its Super Agent and International Money Transfer Operator (IMTO) licenses now reactivated, NIPOST is positioning itself not just as a mail handler, but as a one-stop hub for financial services, e-commerce logistics, and government integration—especially in underserved communities.

According to Postmaster General Tola Odeyemi, who spoke during a recent Channels TV interview monitored by Innovation Village, NIPOST is back in the business of money transfer and agent banking, after nearly eight years of dormancy. The IMTO license, which had been suspended due to compliance issues, is now active again following the payment of outstanding fines.....……continue reading

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💻 DIGITAL ECONOMY

Nigeria’s Digital Economy Attracts $191 Million FDI in Q1 2024, Aims for $5 Billion in Startup Investment

Nigeria’s digital economy is experiencing a significant transformation, driven by ambitious reforms, infrastructure expansion, and rising investor confidence. In the first quarter of 2024, the sector attracted $191 million in foreign direct investment (FDI), a dramatic leap from just $22 million recorded during the same period in 2023.

The growth, championed by the Ministry of Communications, Innovation, and Digital Economy under Minister Bosun Tijani, signals a new era of opportunity for the country’s technology ecosystem. Tijani attributed the FDI surge to foundational reforms initiated since President Bola Ahmed Tinubu took office, as well as the ministry’s strategic focus on connectivity, talent development, and digital infrastructure.

“We are not chasing quick wins,” Tijani said during a State House interview for the president’s two-year anniversary documentary. “The results we want to provide for Nigeria are long-lasting reforms that will transform our economy for generations.”...…..…continue reading

📱 TELECOMS

MTN Nigeria Sues 20 Banks Over SleekChip Debt

MTN Nigeria has taken legal action against more than 20 banks as it intensifies efforts to recover nearly ₦6 billion in interconnect debt from SleekChip Technologies Limited, a licensed international direct access and transit service provider. This move comes on the back of a court judgment awarding the telecom giant the right to reclaim funds owed through garnishee proceedings.

The Federal High Court in Abuja, presided over by Justice Peter Lifu, ruled in November 2024 that SleekChip must pay MTN $1.97 million—or its naira equivalent at the Central Bank of Nigeria’s official rate at the time. The court also granted interest on the debt at a rate 2% above the Nigerian Interbank Offer Rate, backdated to January 31, 2022, until full repayment is made.

At the heart of the dispute lies a 2019 interconnection agreement between MTN and SleekChip, which permitted the exchange of calls and messages between their networks. MTN alleged that from January to October 2022, SleekChip accumulated significant unpaid charges. Despite repeated demand notices and a formal acknowledgment of debt by SleekChip in May 2023, no repayment was made.....…..…continue reading

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🚙 MARKETPLACE

Sylndr Raises $15.7m to Expand Mobility Ecosystem in Egypt’s Used-Car Market

Cairo-based used-car platform Sylndr has raised $15.7 million in Series A equity funding, marking a strategic shift in its evolution from a used-car marketplace to a fully integrated automotive platform. The round was led by Development Partners International (DPI) Venture Capital via its Nclude Fund, with participation from leading investors such as Algebra Ventures, Nuwa Capital, Raed Ventures, Beltone Venture Capital, and others.

This latest equity injection brings the company’s total funding to over $30 million, including earlier rounds of debt and pre-seed financing. It secured a $7.5 million working capital facility facilitated by EFG Hermes in 2024 and $12.6 million for its pre-seed round led by RAED Ventures in 2022......……continue reading

📱PRODUCTIVITY APPS

Google Launches NotebookLM Mobile App, Bringing AI-Powered Research to Your Pocket

Google launched the NotebookLM mobile app on Android and iOS platforms to make AI-driven productivity more accessible. The rollout comes just ahead of the company’s annual developer conference, Google I/O, and marks a key milestone in Google’s mission to integrate artificial intelligence into everyday workflows.

The mobile release follows strong user demand, with Google Labs product manager Biao Wang describing it as “one of the most frequent requests” from early adopters of the platform.

What Is NotebookLM?

NotebookLM, short for “Notebook Language Model,” is an experimental tool developed by Google Labs that uses generative AI to help users organize, understand, and synthesize complex information. Think of it as a smart research assistant.

At its core, NotebookLM allows users to:

Upload content (such as PDFs, Google Docs, or copied text)
Generate summaries, insights, or explanations
Ask natural-language questions about the content
Create personalized study notes or learning aids

It’s like ChatGPT for your own documents, but deeply integrated into Google’s productivity ecosystem. Students, researchers, marketers, and professionals use it to digest dense materials faster, prepare presentations, or develop content strategies—all by feeding their sources directly into the AI......……continue reading

💵 DIGITAL SAVINGS

ElGameya Raises 7-Figure Investment to Boost Digital Savings in Egypt

In a bold step to redefine how Egyptians access financial tools, Cairo-based fintech startup ElGameya has announced the close of a new seven-figure USD investment round, fueling its mission to digitize traditional savings circles and extend financial inclusion to underserved communities.

Led by AYADY for Investment and Development, the round also saw participation from Jedar Capital, Cubit Ventures, Ventures Notes, P-Maestro, and a cohort of local and international angel investors. The investment underscores rising interest in financial platforms that address grassroots challenges using culturally familiar models.

With fresh capital in hand, ElGameya plans to expand its engineering team, enhance its user interface, and launch new savings products tailored to small businesses and women-led households. It also aims to strengthen regulatory partnerships and explore market entry into other North African and Sub-Saharan African countries..……continue reading