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💼 truQ CEO Shakeup: Fatayo Out, Ojo In

💼 truQ CEO Shakeup: Fatayo Out, Ojo In

Plus: 💰 Bfree secures $3 million investment

Innovation Village
July 14, 2025

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Today’s Menu ☕️

💼 Leadership Shift at truQ: Fatayo Exits Amid Governance Disputes, Ojo Takes Over as CEO
💰 Bfree secures $3 million investment from Verdant Capital
🏢 Nawy Acquires SmartCrowd to Expand GCC PropTech Presence
🎮 MultiChoice ventures into mobile gaming
📱Cell C owner Blue Label plans strategic name change

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⚖️ GOVERNANCE

Leadership Shift at truQ: Fatayo Exits Amid Governance Disputes, Ojo Takes Over as CEO

L-R: TruQ founders - Foluso Ojo and Williams Fatayo

Williams Fatayo, co-founder and former CEO of Nigerian logistics startup truQ, has stepped down after five years at the helm, citing personal and leadership differences with co-founder Foluso Ojo. In a Medium post, Fatayo described the decision as one reached after spiritual reflection. However, truQ later issued an official statement revealing that the transition, which occurred in February 2025, was triggered by serious concerns about financial accountability and corporate governance.

truQ began in 2019 when Fatayo and Ojo tried unsuccessfully to transport a wardrobe across Lagos, inspiring them to build a logistics platform. Officially launched in 2020, truQ evolved through three key phases: truQ 1.0, a logistics demand aggregator; truQ 2.0 (Siju by truQ), for distribution optimization; and truQ 3.0, a super-app offering tools and financial services for fleet operators.

While Fatayo framed his exit as part of a natural evolution, truQ emphasized systemic issues and has since taken steps to improve governance. Ojo now leads the company as CEO. Despite internal turbulence, truQ says its mission remains unchanged: to transform African logistics by empowering transporters and enhancing operational efficiency…...…continue reading

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💰 INVESTMENTS

Bfree secures $3 million investment from Verdant Capital

Verdant Capital has completed a $3 million investment through its Verdant Capital Hybrid Fund into Bfree, an ethical digital debt recovery company operating across Africa. The funding will enable Bfree to acquire and rehabilitate distressed loan portfolios from inclusive financial institutions—an underdeveloped area in African financial markets.

Founded in 2020, Bfree uses digital-first, data-driven, and globally compliant practices to manage non-performing loans. Its proprietary portfolio pricing model predicts repayment behavior, allowing for more accurate valuation and recovery. To date, Bfree has managed over $740 million in distressed debt, serving more than 6.6 million borrowers.

This investment supports the Fund’s goal of promoting financial inclusion by restoring capital to financial institutions, improving borrower credit outcomes, and fostering economic resilience. In addition to capital, Bfree will receive technical assistance for operational improvements. The deal delivers returns aligned with the Fund’s targets, underscoring the impact and viability of scalable financial solutions in emerging markets..........…continue reading

🏢 PROPTECH

Nawy Acquires SmartCrowd to Expand GCC PropTech Presence

Egypt-based proptech company Nawy has expanded into the Gulf by acquiring a majority stake in Dubai’s SmartCrowd, the region’s first regulated platform for fractional property investment. The move follows Nawy’s recent $52 million Series A raise and aligns with its goal to build a “super-app” that integrates every aspect of property ownership—from search and finance to co-investment and resale.

Founded in 2016, Nawy has grown beyond listings to offer services like mortgage brokerage, renovation, and fractional ownership. SmartCrowd, launched in 2018, has facilitated over $110 million in transactions and returned $40 million in gains to investors from 130 countries. Its flagship product, Flip, offers average returns of 30% by renovating and reselling undervalued properties.

This acquisition strengthens Nawy’s platform with SmartCrowd’s proven governance and technology. Backed by global investors, Nawy now aims to scale across the Gulf and beyond, tapping into the region’s growing appetite for tokenized, accessible real estate investments.......…continue reading

🎮 GAMING

MultiChoice ventures into mobile gaming

MultiChoice, the South African pay-TV giant, has made a strategic leap into the mobile gaming space with the launch of Shaka iLembe: Match Challenge, its first-ever game based on the popular local TV series Shaka iLembe. The move marks the company’s entry into interactive entertainment amid declining subscriber numbers and revenue pressures caused by inflation and economic strain across its African markets.

This shift reflects a broader industry trend where media firms transform original content into immersive digital experiences to deepen engagement and extend the value of intellectual property. Following in the footsteps of platforms like Netflix, MultiChoice is testing whether mobile gaming can enhance customer retention and drive cross-platform interaction across DStv, GOtv, and Showmax.

The game, available via the MyDStv app in South Africa, introduces a new layer of interactivity to the company’s offerings. It comes as regulators in Ghana enforce price cuts and price adjustments loom in Kenya. As traditional broadcasting faces growing challenges, MultiChoice’s investment in gaming signals a shift toward a diversified entertainment strategy, blending storytelling, technology, and user experience to stay relevant in the digital age.......…continue reading

📱TELECOMS

Cell C owner Blue Label plans strategic name change

Blue Label Telecoms has announced plans to rebrand as Blu Label Unlimited, reflecting a strategic shift in its corporate identity and business focus. The name change, revealed on 11 July 2025, will be presented for shareholder approval at a general meeting on 11 August 2025. This move accompanies a broader restructuring effort, including the separation of its telecoms and non-telecoms units to streamline operations and align with market dynamics.

The new name removes “Telecoms” to better represent the company’s diversified operations, while the shift from “Blue” to “Blu” aligns with refreshed branding already seen across its digital platforms. The Johannesburg Stock Exchange (JSE) has conditionally approved the change, which will see the long name updated to “Blu Label Unlimited” and the short name to “Blu,” although the share code and ISIN will remain the same.

Founded in 2001, the company’s rebranding marks a new chapter, maintaining its legacy while signaling broader ambitions for future growth.......…continue reading