🗳️Senate Approves E-Transmission, Rejects Real-Time Upload

TGIF👋

LemFi is taking its cross-border ambitions global, officially entering Australia to better serve the country’s growing migrant community. By focusing on remittances, the fintech is positioning itself as a bridge between diaspora workers and their families back home, offering faster, more affordable, and reliable ways to move money across borders.

For migrants, sending money home is more than a transaction—it’s a lifeline. LemFi’s expansion reflects a larger trend in fintech, where companies are not just building apps but solving real-world challenges for underserved communities. With Australia as its latest market, LemFi is signaling that international remittances are a strategic priority, and that financial inclusion doesn’t stop at national borders.

Let’s dive in👇

Today’s Menu ☕️

🗳️ Nigerian Senate retains e-transmission of results, rejects real-time upload
💵 LemFi Enters Australia to Serve Migrant Remittances
🗼 MTN eyes acquiring 75% stake in IHS Towers
💵 Rasad Nigeria Raises $1.5M to Expand Operations
💰 Lovegrass Ethiopia secures US$5 million investment from BII

🗳️ E-VOTING

Nigerian Senate retains e-transmission of results, rejects real-time upload

Nigeria’s push to modernise elections through technology has hit another political roadblock after the Senate rejected a proposal that would mandate real-time electronic transmission of election results—particularly the idea of forcing uploads to INEC’s Result Viewing Portal (IReV) real time.

The decision came during deliberations on amendments to Nigeria’s election law, where lawmakers retained provisions that allow technology use, but stopped short of making real-time e-transmission compulsory.

The Senate’s latest position is not necessarily “no technology.” It is no mandatory real-time upload requirement (especially to IReV), which many Nigerians see as the clearest transparency lever. Reports on the debate indicate lawmakers rejected language that would compel real-time electronic transmission, even as reforms were considered in other areas of the bill......….continue reading

💵 CROSS-BORDER PAYMENTS

LemFi Enters Australia to Serve Migrant Remittances

LemFi has expanded into Australia after securing regulatory approval from AUSTRAC to operate as an independent remittance provider. Targeting Australia’s growing migrant population, which now makes up 31.5% of the population, LemFi aims to offer low-cost, transparent international money transfers to major corridors including India, China, Vietnam, the Philippines, Pakistan, Kenya, and Nigeria. The move leverages existing infrastructure in LemFi’s service corridors, enabling rapid scaling. The expansion strengthens LemFi’s global footprint, adding to its licences in North America, Europe, Africa, and Asia, and aligns with its goal of building a full-stack financial ecosystem for migrants, including remittances, savings, and credit products..................….continue reading

🗼INFRASTUCTURE

MTN eyes acquiring 75% stake in IHS Towers

MTN Group has formally approached the Johannesburg Stock Exchange (JSE) for approval to acquire a controlling interest in IHS Towers. If successful, this transaction would represent one of the most consequential infrastructure consolidations in the history of African telecommunications, shifting MTN from a tenant to a dominant landlord of the continent’s digital backbone

IHS Towers boasts a storied history, beginning as a Nigerian startup in 2001. Over the last two decades, it has evolved into a global powerhouse, managing a portfolio of approximately 40,000 towers spanning Africa, Latin America, and the Middle East.......….continue reading

💵 FUNDING

Rasad Nigeria Raises $1.5M to Expand Operations

Rasad Nigeria has secured a $1.5 million follow-on working capital loan from Sahel Capital through the Social Enterprise Fund for Agriculture in Africa (SEFAA). The investment will support the company’s expansion across the cocoa and cashew value chains, benefiting over 1,000 smallholder farmers in Ogun State. As part of its “Rasad 2.0” growth strategy, the agribusiness plans to diversify into value-added processing, export trading through a spin-off (Axias Global), and circular economy initiatives. The deal reflects investor confidence in Rasad’s operational discipline and role in strengthening Nigeria’s agricultural infrastructure...…..continue reading

OTHER STORIES

• Google Opens Applications for 10th African Startup Accelerator………continue reading

• Zoom Launches AI Companion for Smarter Hybrid Collaboration………continue reading

• Lovegrass Ethiopia secures US$5 million investment from BII………continue reading

• Prosus signs three‑year AWS partnership to scale AI across global portfolio…continue reading

Do you know you can join and follow us on our WhatsApp Channel?