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OPay Gets Fresh $400m to Raise Valuation to $2bn

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OPay $50m

By Ashemiriogwa Emmanuel

Nigeria-based fintech company, OPay, has raised fresh $400 million in its latest funding round led by SoftBank Vision Fund 2, increasing the company’s valuation to $2 billion.

The existing investors who took part in the funding round included Sequoia Capital China, Redpoint China, Source Code Capital, and Softbank Ventures Asia. It was also supported by other investors like DragonBall Capital and 3W Capital.

The round, which is actually the Fund’s first investment in an African startup, is coming three months after the fintech firm announced its plans to raise “up to $400 million at a $1.5 billion valuation” from a group of Chinese investors.

This also showed more interest in the firm from investors after OPay announced two funding rounds in 2019 — $50 million in June and a $120 million Series B in November.

This feat makes OPay the fourth Unicorn in Nigeria, joining the likes of Interswitch, Jumia and Flutterwave. It also becomes the fifth African unicorn with Fawry, the Egyptian electronic payment startup, the only non-Nigerian among them.

Speaking on the latest funding round, Opay CEO, Mr Yahui Zhou, noted that the company was focused on supporting emerging markets in reaching a faster economic development.

In his words, “We want to be the power that helps emerging markets reach a faster economic development.”

In a statement, Kentaro Matsui, a managing director at SoftBank Group Corp, said, “We believe our investment will help the company extend its offering to adjacent markets and replicate its successful business model in Egypt and other countries in the region.”

The Opera-owned fintech-oriented company said its monthly transaction volume now exceeds $3 billion, with more than 300,000 agents and over 5 million users across Nigeria.

After headwinds in diving into different segments of the Nigerian market in the past, OPay has now grown at an exponential rate by simply allowing unbanked and underbanked users in Nigeria to send, receive money and pay bills through a network of thousands of agents.

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Airtel Commits to Boosting Nigeria’s Digital Infrastructure

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Airtel Nigeria Nxtra Data Centre

By Modupe Gbadeyanka

A leading telecommunications firm, Airtel Nigeria, has reaffirmed its long-term commitment to strengthening the country’s digital infrastructure and data access to bridge gaps in connectivity and unlock new opportunities in the country.

The company gave this reassurance during a recent inspection tour of its ongoing Nxtra Data Centre at Eko Atlantic, Lagos.

The data centre is being established to deliver hyperscale and edge facilities across key African markets. With a load of 38 Megawatts, the Lagos facility is expected to serve as a major hub for data hosting, cloud services, content distribution, artificial intelligence, and enterprise solutions in West Africa.

“This Nxtra Data Centre in Lagos represents a critical part of our long-term vision for Nigeria’s digital ecosystem. Today’s visit allows us to review progress, engage our stakeholders, and ensure that our infrastructure investments continue to meet global standards and local needs.

“This data centre will deliver critical high multi megawatt capacity in line with hyperscale customers and enable high density environment. We are putting the infra to bring the cloud to Nigeria,” the chief executive of Airtel Africa Plc, Mr Yashnath Issur, said.

Also commenting, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, said, “Since the announcement of this project, our focus has been on building a world-class facility that supports Africa’s digital transformation agenda.

“We are encouraged by the progress recorded so far and remain committed to delivering a secure, energy-efficient, and future-ready data centre for Nigeria,” reiterating that the data centre is progressing steadily towards the previously announced 2028 go live date.

On his part, the chairman of Eko Atlantic, Mr Gabbi Massoud, disclosed that, “Eko Atlantic as a city with high quality infrastructure will contribute positively to boost the economy of Nigeria and is a perfect place for the development of the digital infrastructure of Nigeria.

“The Nxtra data centre reflects the calibre of projects we seek to attract — long-term, technology-driven investments built to the highest global standards.

“Today’s visit affirms the rigour of the planning and execution process by Nxtra, and the commitment of Eko Atlantic to facilitate and promote the Nigeria’s evolving digital ecosystem.”

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Google Partners African Universities to Launch WAXAL Speech Dataset

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Google WAXAL Speech Dataset

By Modupe Gbadeyanka

A speech dataset designed to catalyze research and build more inclusive Artificial Intelligence (AI) technologies has been launched by Google in partnership with a consortium of leading African research institutions, which are mainly universities.

The main universities involved in the project known as WAXAL are Makerere University in Uganda, the University of Ghana, and Digital Umuganda in Rwanda.

A statement from Google on Monday said the dataset bridges a critical digital divide for over 100 million speakers by providing foundational data for 21 sub-Saharan African languages, including Hausa, Luganda, Yoruba, and Acholi.

While voice-enabled technologies have become common in much of the world, a profound scarcity of high-quality speech data has prevented their development for most of Africa’s over 2,000 languages. This has excluded hundreds of millions of people from accessing technology in their native tongues.

The WAXAL dataset was created to directly address this gap. Developed over three years with funding from Google, the project features 1,250 hours of transcribed, natural speech, and Over 20 hours of high-quality, studio recordings designed for building high-fidelity synthetic voices.

The WAXAL dataset, which is available starting today, covers Acholi, Akan, Dagaare, Dagbani, Dholuo, Ewe, Fante, Fulani (Fula), Hausa, Igbo, Ikposo (Kposo), Kikuyu, Lingala, Luganda, Malagasy, Masaaba, Nyankole, Rukiga, Shona, Soga (Lusoga), Swahili, and Yoruba.

Commenting on the development, the Head of Google Research for Africa, Ms Aisha Walcott-Bryantt, said, “The ultimate impact of WAXAL is the empowerment of people in Africa.

“This dataset provides the critical foundation for students, researchers, and entrepreneurs to build technology on their own terms, in their own languages, finally reaching over 100 million people.

“We look forward to seeing African innovators use this data to create everything from new educational tools to voice-enabled services that create tangible economic opportunities across the continent.”

Also commenting, a Senior Lecturer at Makerere University’s School of Computing and Information Technology, Ms Joyce Nakatumba-Nabende, said, “For AI to have a real impact in Africa, it must speak our languages and understand our contexts.

“The WAXAL dataset gives our researchers the high-quality data they need to build speech technologies that reflect our unique communities. In Uganda, it has already strengthened our local research capacity and supported new student and faculty-led projects.”

An Associate Professor at the University of Ghana, Mr Isaac Wiafe, said, “For us at the University of Ghana, WAXAL’s impact goes beyond the data itself. It has empowered us to build our own language resources and train a new generation of AI researchers.

“Over 7,000 volunteers joined us because they wanted their voices and languages to belong in the digital future.

“Today, that collective effort has sparked an ecosystem of innovation in fields like health, education, and agriculture. This proves that when the data exists, possibility expands everywhere.”

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Nigeria Grows Data Protection Industry to N16.2bn

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Data Protection Bill

By Adedapo Adesanya

The Nigeria Data Protection Commission (NDPC) has disclosed that the country’s data protection ecosystem has grown to N16.2 billion within just two years of formal regulation.

The disclosure was made by the chief executive of the data regulating agency, Mr Vincent Olatunji, during a media workshop and capacity-building engagement held in Lagos recently.

He further said  the growth reflects rising enforcement, compliance activity, and increasing confidence in Nigeria’s digital governance framework, even though the NDPC was not designed as a revenue-generating agency.

Mr Olatunji explained that regulatory compliance fees and enforcement actions under the Nigeria Data Protection Act (NDPA), 2023, have created significant economic value while also contributing to government revenue and job creation across the country, noting that regulatory fees and sanctions after investigations have contributed over N16.2 billion to federal revenue while supporting an estimated 23,000 jobs nationwide.

“These investigations have resulted in 11 major enforcement actions, including significant financial penalties and corrective directives.”

“The message is clear: violations of data privacy will attract serious consequences, regardless of the size or status of the organisation involved,” Mr Olatunji stated, adding that the commission has concluded 246 investigations into data protection and privacy breaches across multiple sectors, signalling that enforcement will remain central to Nigeria’s data governance strategy.

Business Post reports that NDPC has over the last two years carried some sanctions against some top companies including a N766.2 million fine on MultiChoice Nigeria in July 2025 as well as Fidelity Bank, which was fined N555.8 million in 2024 for processing personal data without informed consent.

The NDPC Commissioner linked the Commission’s enforcement milestones to Nigeria’s broader ambition of building a $1 trillion digital economy.

He stressed that accountability and trust are foundational to digital transformation and long-term investment.

“Privacy enforcement is the foundation of digital confidence. By holding violators accountable, we are safeguarding citizens while creating the secure environment required for innovation, investment and sustainable growth,” he said.

He said the Commission has significantly expanded compliance structures across the economy to support this objective, moving beyond sanctions to system-wide institutional strengthening.

The NDPC has registered 38,677 Data Controllers and Processors of Major Importance, licensed 307 Data Protection Compliance Organisations, and received more than 8,155 Compliance Audit Returns.

In addition, the Commission has issued the General Application and Implementation Directive, which takes effect from September 2025, translated the NDPA into three major Nigerian languages, and launched a multi-sector compliance sweep covering banking, insurance, pensions, and gaming, with 1,348 entities already served with compliance notices.

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