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HoneyCoin Raises $4.9m to Boost Payment Orchestration Infrastructure

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HoneyCoin

By Adedapo Adesanya

Payment orchestration platform, HoneyCoin, has announced a $4.9 million funding round led by the global venture firm, Flourish Ventures, to boost its operations.

Flourish is joined by a dynamic mix of regional and global investors, including Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler.

According to a statement, the new capital will accelerate the scale of operations, expand its product suite, and bring on new senior hires to strengthen its position as a prominent player in the payments industry.

Mr David Nandwa, who became one of Africa’s youngest fintech CEOs at the age of 19, launched HoneyCoin in 2020, during the pandemic.

With HoneyCoin, he and his team have set out to develop the financial operating system for a hybrid future, where fiat and blockchain infrastructure merge to enable faster, compliant, and cost-efficient cross-border money movement.

Since its launch, the platform claims it has scaled rapidly, processing hundreds of dollars in transactions to over $150 million in monthly transaction volume, serving more than 350 enterprise customers and hundreds of thousands of consumers through its flagship consumer app, Peer. Collectively, it powers payments for millions of end-users across four continents.

Mr Nandwa said, “Our mission is to build the operating system for money, how it’s moved, held, and collected, regardless of medium or geography.

“Just as Apple redefined computing and Visa transformed global commerce, we believe financial infrastructure is undergoing another once-in-a-generation shift.

“This raise enables us to lead that transformation, across Africa and other global markets, by building resilient, interoperable infrastructure for the future of finance.”

HoneyCoin says it addresses long-standing inefficiencies in global financial infrastructure, particularly for businesses in frontier markets, by providing a unified, stablecoin-compatible platform for collections, treasury management, settlements, and FX management.

By building a stablecoin-based liquidity engine and bypassing fragmented rails, HoneyCoin offers businesses instant or same-day settlements, compared to the traditional 4–7 business day timelines.

Flourish Ventures, which first backed HoneyCoin in 2021, co-led the latest fundraise as a follow-on investment, signaling strong confidence in the startup and underscoring its long-term commitment to building fairer financial systems across Africa.

Speaking on the investment, Flourish Ventures Principal, Mr Efayomi Carr, said, “We first backed HoneyCoin in 2021 based on David’s technical expertise and regulatory vision.

“Since then, he’s built a licensed, profitable, and high-growth infrastructure platform powering nearly 300 financial institutions and processing billions in transactions annually. This follow-on investment reflects our deep confidence in HoneyCoin’s results to date and potential to lead the next generation of compliant, blockchain-enabled finance across Africa.”

Operational in over 45 countries and PCI-DSS Level 1 certified, HoneyCoin allows businesses to collect and disburse mobile money, card, and bank payments across 15 African markets, as well as in the US, Canada, Europe, and the UK. Its FXHub enables customers to buy and sell up to 49 currencies at competitive rates, giving CFOs and finance teams the tools for seamless global treasury management backed by real-time data.

Licensed across key markets including the US, Canada, EU, and key African jurisdictions, HoneyCoin has built direct integrations with banks and telecom operators, including partnerships with MoneyGram, UBA Bank, and Stripe. Its platform is already being used by high-growth businesses and fintechs, including Cedar Money, TerraPay, and Jiji, underlining the platform’s increasing adoption across industries.

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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Lagos’ Team Nevo Wins 3MTT Southwest Regional Hackathon

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Lagos 3MTT Hackathon Team Nevo

By Adedapo Adesanya

Lagos State’s representative, Team Nevo, won the 3 Million Technical Talent (3MTT) South-West Regional Hackathon, on Tuesday, December 9, 2025.

The host state took the victory defeating pitches from other south west states, including Oyo, Ogun, Osun, Ekiti, and Ondo States.

This regional hackathon was a major moment for the 3MTT Programme, bringing together young innovators from across the South-West to showcase practical solutions in AI, software development, cybersecurity, data analysis, and other key areas of Nigeria’s digital future.

Launched by the Federal Ministry of Communications, Innovation, and Digital Economy, the hackathon brought together talented young innovators from across the Southwest region to showcase their digital solutions in areas such as Artificial Intelligence (AI)/Machine Learning, software development, data analysis, and cybersecurity, among others.

“This event not only highlights the potential of youth in South West but also advances the digital economy, fosters innovation, and creates job opportunities for our young people,” said Mr Oluwaseyi Ayodele, the Lagos State Community Manager.

Winning the hackaton was Team Nevo, made up of Miss Lydia Solomon and Mr Teslim Sadiq, whose inclusive AI learning tool which tailors academic learning experiences to skill sets of students got the top nod, with N500,000 in prize money.

Team Oyo represented by Microbiz, an AI business tool solution, came in second place winning N300,000 while Team Ondo’s Fincoach, a tool that guides individuals and businesses in marking smarter financial decisions, came third with N200,000 in prize money.

Others include The Frontiers (Team Osun), Ecocycle (Team Ogun), and Mindbud (Team Ekiti).

Speaking to Business Post, the lead pitcher for Team Nevo, Miss Solomon, noted, “It was a very lovely experience and the opportunity and access that we got was one of a kind,” adding that, “Expect the ‘Nevolution’ as we call it, expect the transformation of the educational sector and how Nevo is going to bring inclusion and a deeper level of understanding and learning to schools all around Nigeria.”

Earlier, during his keynote speech, the chief executive officer (CEO) of Sterling Bank, Mr Abubakar Suleiman, emphasised the need for Nigeria’s budding youth population to tap into the country’s best comparative advantage, drawing parallels with commodities and resources like cocoa, soyabeans, and uranium.

“Tech is our best bet to architect a comparative advantage. The work we are doing with technologies are very vital to levelling the playing field.”

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re:Invent 2025: AWS Excites Tech Enthusiasts With Graviton5 Unveiling

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AWS Graviton5

By Aduragbemi Omiyale

One of the high points of the 2025 re:Invent was the unveiling of Graviton5, the fifth generation of custom Arm-based server processors from Amazon Web Services (AWS).

Many tech enthusiasts believe that the company pushed the limits with Graviton5, its most powerful and efficient CPU, frontier agents that can work autonomously for days, an expansion of the Amazon Nova model family, Trainium3 UltraServers, and AWS AI Factories suitable for implementing AI infrastructure in customers’ existing data centres.

Graviton5—the company’s most powerful and efficient CPU

As cloud workloads grow in complexity, organizations face a persistent challenge to deliver faster performance at lower costs and meet sustainability commitments without trade-offs.

AWS’ new Graviton5-based Amazon EC2 M9g delivers up to 25% higher performance than its previous generation, with 192 cores per chip and 5x larger cache.

For the third year in a row, more than half of new CPU capacity added to AWS is powered by Graviton, with 98 per cent of the top 1,000 EC2 customers—including Adobe, Airbnb, Epic Games, Formula 1, Pinterest, SAP, and Siemens—already benefiting from Graviton’s price performance advantages.

Expansion of Nova family of models and pioneers “open training” with Nova Forge

Amazon is expanding its Nova portfolio with four new models that deliver industry-leading price-performance across reasoning, multimodal processing, conversational AI, code generation, and agentic tasks. Nova Forge pioneers “open training,” giving organizations access to pre-trained model checkpoints and the ability to blend proprietary data with Amazon Nova-curated datasets.

Nova Act achieves breakthrough 90% reliability for browser-based UI automation workflows built by early customers. Companies like Reddit are using Nova Forge to replace multiple specialized models with a single solution, while Hertz accelerated development velocity by 5x with Nova Act.

Addition of 3 frontier agents, a new class of AI agents that work as an extension of your software development team

Frontier agents represent a step-change in what agents can do. They’re autonomous, scalable, and can work for hours or days without intervention. AWS announced three frontier agents—Kiro autonomous agent, AWS Security Agent, and AWS DevOps Agent. Kiro autonomous agent acts as a virtual developer for your team, AWS Security Agent is your own security consultant, and AWS DevOps Agent is your on-call operational team.

Companies, including Commonwealth Bank of Australia, SmugMug, and Wester Governors University have used one or more of these agents to transform the software development lifecycle.

Unveiling Trainium3 UltraServers

As AI models grow in size and complexity, training cutting-edge models requires infrastructure investments that only a handful of organizations can afford.

Amazon EC2 Trn3 UltraServers, powered by AWS’s first 3nm AI chip, pack up to 144 Trainium3 chips into a single integrated system, delivering up to 4.4x more compute performance and 4x greater energy efficiency than Trainium2 UltraServers.

Customers achieve 3x higher throughput per chip while delivering 4x faster response times, reducing training times from months to weeks. Customers including Anthropic, Karakuri, Metagenomi, NetoAI, Ricoh, and Splash Music are reducing training and inference costs by up to 50 per cent with Trainium, while Decart is achieving 4x faster inference for real-time generative video at half the cost of GPUs, and Amazon Bedrock is already serving production workloads on Trainium3.

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NITDA Alerts Nigerians to ChatGPT Vulnerabilities

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ChatGPT

By Adedapo Adesanya

The National Information Technology Development Agency (NITDA) has issued an advisory on new vulnerabilities in ChatGPT that could expose users to data-leakage attacks.

According to the advisory, researchers discovered seven vulnerabilities affecting GPT-4o and GPT-5 models that allow attackers to manipulate ChatGPT through indirect prompt injection.

The agency explained that hidden instructions placed inside webpages, comments, or Uniform Resource Locators (URLs) can trigger unintended commands during regular browsing, summarisation, or search actions.

“By embedding hidden instructions in webpages, comments, or crafted URLs, attackers can cause ChatGPT to execute unintended commands simply through normal browsing, summarization, or search actions,” they stated.

The warning followed rising concerns about AI-powered tools interacting with unsafe web content and the growing dependence on ChatGPT for business, research, and public-sector tasks.

NITDA added that some flaws allow the bypassing of safety controls by masking malicious content behind trusted domains.

Other weaknesses take advantage of markdown rendering bugs, enabling hidden instructions to pass undetected.

It explained that in severe cases, attackers can poison ChatGPT’s memory, forcing the system to retain malicious instructions that influence future conversations

They stated that while OpenAI has fixed parts of the issue, Large-Language Models (LLMs) still struggle to reliably separate genuine user intent from malicious data.

The Agency warned that these vulnerabilities could lead to a range of cybersecurity threats, including unauthorised actions carried out by the model; unintended exposure of user information; manipulated or misleading outputs; and long-term behavioural changes caused by memory poisoning, among others.

It advised Nigerians, businesses, and government institutions to adopt several precautionary steps to stay safe. These include limiting or disabling the browsing and summarisation of untrusted websites within enterprise environments and enabling features like browsing or memory only when necessary.

It also recommended regular updates to deployed GPT-4o and GPT-5 models to ensure known vulnerabilities are patched.

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