TechCabal

It’s been an exciting week for the African tech ecosystem! In case you missed any, here’s a quick recap of the top stories we covered this week. 👇 -  Moniepoint, the Nigerian fintech that recently raised $110 million at a billion-dollar valuation, has appointed Bayo Olujobi as the Chief Financial Officer (CFO) of Moniepoint MFB, one of its subsidiaries. Olujobi joined Moniepoint from Stanbic IBTC Bank, where he was CFO. He was also a non-executive director at Stanbic IBTC Capital, the investment arm of Stanbic IBTC Holdings. He will play a significant role in the company’s goal to onboard 30 million businesses over the next five years.  Get all the details 👉 https://lnkd.in/eMRUHTvJ - Funke Opeke has resigned as MainOne’s Managing Director for West Africa weeks after the internet connectivity provider finalised its post-acquisition integration with Equinix. According to three people familiar with the matter, Opeke, who founded MainOne in 2008, will transition into a strategic advisory role for the West African region through March 2026. She will be replaced by Wole Abu, the CEO of Liquid Intelligent Technologies Nigeria, three people familiar with the matter said. Get more details 👉 https://lnkd.in/dc7Yd7jQ   -  Two years after launching its accelerator program in Nigeria, ARM Labs Lagos Techstars, also known as Techstars Lagos has shut down. It will also discontinue the third cohort program, which began in March 2024. Techstars’ global Chief Brand and Communications Officer, Matthew Grossman, confirmed the shutdown in an email.    Read all about it 👉 https://lnkd.in/dCaEbZwz  -  Cikü Mugambi, CEO of Kobo360, a logistics startup that provides access to trucks for businesses like Dangote, Unilever, and Flour Mills, has resigned after one year. Mugambi announced her exit on a company-wide call on October 29. At least three people with knowledge of the matter claimed there was some chatter about her impending resignation in the past week. Get all the details 👉 https://lnkd.in/d2QHS-Bh  - Technical glitches during a critical data migration allowed customers at Kenya’s largest bank, the KCB Group, to withdraw sums above their bank balances. Customers withdrew around $7.7 million (KES 1 billion) from October 11 to 31, ten people familiar with the matter told TechCabal.   The bank has restricted the accounts of customers who overdrew their accounts and has notified them, people familiar with the matter said. The bank is also prepared to use loan recovery companies. Get all the details 👉 https://lnkd.in/ePKP_3-N What news story captured your attention this week? Let us know in the comments!