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Movii, Yabx Give Loans to Procter & Gamble Retailers

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Yabx Movii P&G

By Adedapo Adesanya

In a spirit of partnerships, Movii, a leading mobile wallet challenger bank in Colombia, and Yabx, a leading technology company in contactless lending, have collaborated with Procter & Gamble Retailers to provide credit services in Colombia.

According to research, Colombian MSMEs face a financing gap of $56 billion and this lack of credit access leaves most of these businesses outside the financial institutional framework.

It was because of this problem both parties agreed to join forces to bridge this credit reach gap and bring expertise to these developing markets.

The partnership with Procter & Gamble, a global consumer goods company, is being launched in the South American country, where its wide range of product lines include Personal Care & Hygiene, Food and Beverages among others are in high demand considering the current COVID-19 pandemic.

This contactless service was also introduced considering the pandemic situation in the country and will help businesses with pre-approved credit facilities to purchase their retail stock and cater to the needs of general population amid lock down

With this, businesses can use this credit service to facilitate their business operations and for P&G merchants in Colombia, they can pay for their stock orders using digital credit from their Movii wallet.

These merchants credit limit will be derived using Yabx’s state-of-the-art credit decision analytics engine using advanced machine learning tools. The entire credit journey from onboarding of merchant, credit disbursal and collections would be enabled using Yabx digital lending platform.

Speaking at the launch, Mr Rajat Dayal, Founder andChief Executive Officer of Yabx said – “Usually these merchants rely heavily on cash to purchase their stock. This comes with a lot of problems such as – lack of sufficient cash availability to optimize sales, security risks and inconvenience of handling cash, lack of liquidity management, continuous alienation from credit ecosystem.”

“These problems become even bigger and riskier at the time when the world is facing dreaded COVID-19 pandemic.

“Yabx aims to help these merchants to access easy and affordable credit and enable them to plan, manage and grow their business more efficiently.

“Additionally, merchant network owners like P&G, who have a large merchant base in Colombia, can benefit from this program by enhancing their sales volumes, reduction in cash leakage, better planning and stocking as well as improved transparency in the supply chain.

“In Latin America, which is a special focus region for us, merchant financing is one of the key product to ensure effective management of COVID-19,” he added.

The Chief Executive Officer and Founder of Movii, Mr Hernando Rubio said, “This move at the time of COVID-19 crisis is an important step towards our efforts to bring digital financial services to the under-banked population in Colombia of which MSMEs constitute a significant portion.

“We are planning to roll out this loans program to our larger merchant network and continue working on building partnerships with more CPG networks.

“In addition to this, soon we will be launching more credit use-cases for merchants including cash advances, POS loans.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Airtel Africa Launches Starlink Mobile in DRC

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Airtel Starlink Mobile

By Modupe Gbadeyanka

The first commercial deployment of satellite-to-mobile service in Africa has been launched by Airtel Africa in the Democratic Republic of the Congo (DRC).

This was made possible through the partnership between Airtel Africa and Starlink, enabling customers of Airtel with compatible smartphones to access connectivity in non-terrestrial areas wherever they can see the sky.

Starlink, the world’s largest satellite-to-mobile constellation with 650 launched satellites, enables light-data apps, including WhatsApp messaging, as well as SMS. Customers do not require specialised equipment or a separate device to access the service.

To use the service, customers must have a compatible LTE Android smartphone, an active Airtel DRC data bundle or data roaming switched on. In the future, the service will also be supported on Apple devices.

Recall that the journey to this milestone began when Airtel Africa and Starlink sealed a strategic partnership in December 2025. This was followed by the successful testing of Starlink Mobile data and messaging services in Kenya in March 2026. DRC is the first Airtel Africa market – and the first country in Africa – where the service has progressed to commercial deployment.

The service is expected to be particularly valuable to people and organisations operating in remote areas, including transport and logistics operators, humanitarian organisations, health workers, farmers, mining operations and communities beyond the reach of existing terrestrial networks. It will also support access to essential communications during emergencies, natural disasters and temporary terrestrial network disruptions.

Eligible customers can register through the MyAirtel App to receive free trial access to the service for an introductory 30-day period. Customers travelling to DRC and joining Airtel DRC can also register for the trial after activating an eligible service and downloading the MyAirtel App.

Following the introductory period, customers will continue accessing Starlink Mobile through eligible Airtel data bundles.

“The first-ever commercial launch of Starlink Mobile in Africa is a significant milestone for Airtel Africa through our partnership with SpaceX.

“By combining Airtel’s terrestrial network with Starlink’s satellite technology, we are extending essential connectivity beyond the limits of conventional mobile infrastructure.

“The DRC is leading this important development, and the experience gained here will support the progressive expansion of the service across our markets, subject to country-specific regulatory approvals,” the chief executive of Airtel Africa, Mr Sunil Taldar, stated.

Also commenting, the chief executive of Airtel DRC, Mr Theirry Diasnoma, said, “The commercial launch of Starlink Mobile is an important step in extending essential connectivity across the DRC. Our country’s size and geography mean that many people live, work and travel beyond the reach of conventional mobile infrastructure.

“This service provides an additional layer of connectivity, helping customers remain reachable, informed and connected even in areas where terrestrial coverage is unavailable.”

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Jumia Raises $50m in IFC-Led Funding to Drive African E-Commerce Growth

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Jumia

By Adedapo Adesanya

African e-commerce platform Jumia has secured $50 million in post-IPO equity financing, led by a $25 million investment from the International Finance Corporation (IFC), a member of the World Bank Group, as the company strengthens its financial position and accelerates its path to profitability.

The funding round, which also attracted existing major shareholders and selected new investors, comes as Jumia reported strong operational growth in the second quarter of 2026 and reaffirmed its target of achieving adjusted EBITDA breakeven in the fourth quarter of the year and profitability in 2027.

Jumia’s Q2 performance showed continued momentum across its core markets. Revenue increased 14 per cent year-on-year to $52 million, while gross merchandise value (GMV) rose 20 per cent to $216.3 million. Orders grew 28 per cent, quarterly active customers increased 24 per cent, and gross profit climbed 28 per cent to $30.7 million.

The company also reduced its adjusted EBITDA loss by 36 per cent to $8.7 million, pointing to improving operating efficiency as it works towards sustained profitability.

Nigeria emerged as one of Jumia’s strongest-performing markets during the quarter, with GMV rising 36 per cent and orders increasing 34 per cent year-on-year.

The company also recorded a 96 per cent increase in gross items sold from international sellers, driven by an expanding base of Chinese merchants and growing affordable fashion supplies from Turkey.

The new capital comes at a critical stage in Jumia’s turnaround strategy. Its liquidity position stood at $48.3 million at the end of the quarter, representing a $14.3 million decline during the period. The additional funding is therefore expected to strengthen its runway as the company moves towards its 2026 breakeven target.

Beyond strengthening Jumia’s balance sheet, the IFC investment is expected to expand economic opportunities across the markets where the company operates.

The World Bank Group said the investment could enable about 60,000 local active sellers annually to participate more fully in the digital economy, support approximately 1,800 direct jobs and create income-generating opportunities for more than 100,000 independent sales agents.

The IFC said the investment would support Jumia’s next phase of growth by strengthening its integrated marketplace and logistics network, while expanding access to digital commerce tools and services for businesses across Africa.

According to the development finance institution, stronger digital commerce infrastructure can help entrepreneurs and small businesses increase sales, improve productivity, access wider markets and connect consumers with a broader range of affordable products.

“The support of the World Bank Group is a milestone for Jumia and for African e-commerce more broadly,” Jumia Chief Executive Officer, Mr Francis Dufay, said.

He added that the investment validates the company’s efforts to improve its business discipline while recognising its impact on small businesses, jobs and consumers across its eight markets.

“With partners like the IFC, we can accelerate the digital commerce infrastructure Africa needs,” Mr Dufay said.

IFC Director for Equity, Funds, and Venture Capital, Mr Farid Fezoua, said Jumia demonstrates how pan-African e-commerce platforms can expand economic opportunities at scale.

“Our investment supports the company’s next phase of growth while contributing to creating jobs, digitising supply chains and distribution channels, and mobilising private investment,” Mr Fezoua said.

Jumia, however, continues to face operational pressures, including supply disruptions affecting phones and electronics, higher fuel costs and weaker demand in Ivory Coast amid falling cocoa prices.

The company also exited Algeria earlier in 2026, while its continued shift from first-party to third-party sales is changing its revenue structure.

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Airtel Nigeria Expands Retail Footprint with 350 New Experience Centres

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Airtel Nigeria SIM update

By Modupe Gbadeyanka

As part of efforts to expand its national retail footprint, Airtel Nigeria has rolled out 350 of the planned 500 premium experience centres designed to bring faster, more convenient service closer to millions of Nigerians.

Built as compact, high-efficiency touchpoints, the newly launched shops are designed to enable subscribers complete all transactions such as Home Broadband, Fibre and Outdoor Units Subscription, Postpaid Plan Subscription, Enterprise Applications Enquiry and Subscription, as well as Prepaid Product services such as SIM registration and Data Plan purchase, other enquiries and comprehensive account support.

They have been integrated into Airtel Nigeria’s broader customer experience agenda, which have seen the company continue to invest in digital self-service platforms, AI-powered customer support, nationwide customer forums, and significant network expansion across the country.

The rollout emphasises the organisation’s continued investment in customer experience and responds directly to feedback from customers seeking quicker access to everyday services without the longer waiting times that may be associated with larger retail centres.

At a symbolic launch held at City Mall, Onikan, Lagos, the Director of Sales and Distribution for Airtel Nigeria, Mr Joypratip Sengupta, said, “Our goal is to demonstrate our dedication to exceptional quality of service, and these new shops, by their design, location, and equipment fit right within our goal to deliver superior service to every one of our customers.”

He added that the expansion reflects Airtel Nigeria’s belief that excellent customer experience goes beyond technology to ensuring customers can receive support whenever and wherever they need it.

“Our business at Airtel is to ensure that we bring our services closer to our customers, and everything we do is centred on putting the customer first. These experience centres are open to help customers carry out their transactions faster and with greater ease.

“Whether you want to replace a SIM, purchase one of our routers, recharge airtime or data, or resolve any service issue, you can now do so more conveniently and closer to where you are,” he further stated

He explained that the initiative represents a significant update to Airtel’s retail strategy, placing greater emphasis on accessibility, speed, and convenience.

“These express shops are designed to reduce traffic at our larger shops while giving customers faster access to the services they need. More importantly, they reinforce our vision of building the most accessible customer service network in Nigeria. As the telecom operator with the country’s largest retail footprint, we will continue expanding into more neighbourhoods, making it easier for customers to connect with Airtel wherever they are,” Mr Sengupta noted.

In her remarks at the launch, the Head of Shops and Retail Postpaid Business at Airtel Nigeria, Ms Lynda Amechi, disclosed that the new retail model was born from listening to customers and reimagining how Airtel delivers its services.

“At Airtel, some of our best ideas come directly from our customers. One of the recurring concerns we received was the time customers sometimes spent waiting at our larger experience centres, even when they only needed simple transactions completed.

“We listened carefully and realised that many of these requests could be resolved within minutes if we brought our services closer to the communities where customers live and work.” She said.

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