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Nigerian fintech Leatherback is removing geographical barriers to financial service— CEO

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Nigerian fintech, Leatherback, is poised to remove what it calls the geographical barriers to financial services in the country as well as in the seven other countries it operates in.

This was disclosed in a statement by its founder and CEO, Ibrahim Ibitade, who stated that the startup which is a global banking service provider, was “removing geographical restrictions for individuals and businesses by providing comprehensive financial services across multiple countries.”

“For businesses, our platform offers advanced features such as invoicing, analytics, and permissions management, empowering them to manage their finances with greater control and insight,” Ibitade said.

“At Leatherback, we are committed to breaking down barriers to global financial access and mobility.

“By offering a single access point and building best-in-class financial, payment, and commerce solutions, we strive to empower individuals and businesses to thrive in an increasingly interconnected world,” he noted.

Founded in 2022, Ibitade said the idea of the fintech was to “bridge the gap between frontier markets and developed markets.”

“Leatherback allows users to seamlessly send and receive money locally and internationally, making transactions easier and more efficient.

“The company had identified a significant gap in the market for comprehensive, borderless financial services that cater to the needs of both individuals and businesses operating across multiple countries.

“Traditional banking systems often impose restrictions and complexities when it comes to cross-border transactions, making it challenging for users to navigate global financial landscapes seamlessly.

“Our research revealed that existing fintech solutions either lacked robustness in currency options or were limited in their international payment capabilities.

“Furthermore, many platforms did not offer integrated features such as invoicing, analytics, and permissions management tailored specifically for businesses operating in diverse markets.

“We differentiate ourselves through our comprehensive offering of up to 15 currencies from 21 countries, along with our focus on providing a user-friendly platform that caters to both individual and business needs.

“Our commitment to continuous innovation and customer-centric approach sets us apart from competitors, allowing us to carve out a distinct niche in the market,” Ibitade said.

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MTN, Vodacom remain South Africa’s most valuable brands— Report

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A report released on Tuesday by global brand valuation consultancy, Brand Finance, has rated telecom giants, MTN and Vodacom, as the most valuable brands in South Africa.

According to the report, MTN is still the standout company, maintaining its position as the most valuable South African brand, despite experiencing an 8% decrease in brand value to ZAR68.2 billion.

Part of the report noted that the telecommunications company has significantly “expanded outside of its home market and has a stronghold in Nigeria, which is now MTN’s largest market in terms of both user base and revenue.”

“On the other hand, Vodacom’s brand value increased 10% to ZAR43.9 billion in 2024,” it said.

“This secures its second place in the ranking, while also narrowing the gap with leading competitor MTN.”

The Brand Finance research indicates that the influence of majority shareholder Vodafone has bolstered Vodacom’s brand and market standing.

Although Vodacom operates autonomously and is listed on the Johannesburg Stock Exchange, Brand Finance data reveals that Vodacom’s association with Vodafone enhances brand equity, cultivating recognition and trust.

“Amid the myriad of challenges that South African businesses are facing, our research highlights that now, more than ever, brand consistency is crucial in driving growth,” the report endorsed by Jeremy Sampson, Chairman, Brand Finance Africa, stated.

“For the past fifteen years, MTN and Vodacom have consistently maintained their positions as the top two most valuable brands and six of the top ten brands have stayed in the top ten.

“Leading brands like MTN, Vodacom, Standard Bank, and Absa have also nearly doubled their brand values since 2016.

“Time and time again, our findings underscore the critical need to prioritise brand investment as a strategic imperative, safeguarding companies’ brand as a valuable asset for the future,” it added.

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Nigerian healthtech startup Remedial Health launches app with digital POS, barcode scanner

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Nigerian healthcare startup, Remedial Health, has announced the launching of a new app with digital point of sales (POS) and barcode for neighbourhood pharmacies and Proprietary Patent Medicine Vendors (PPMVs) across Africa.

Co-founder and CEO of Remedial Health, Samuel Okwuada, who disclosed this in a statement, said the new “app comes with a digital POS terminal to support payment collection, virtual business accounts to receive payments.”

“It also has an in-built barcode scanner feature for recording product sales and store-switch functionality to enable the seamless management of multiple stores, as well as inventory management solutions for restocking and easily identifying short-dated products.”

Okwuada added that the app also offers comprehensive financial reporting to manage profit and loss, and data analytics to inform decision making.

“Neighbourhood pharmacies and PPMVs represent the frontline of healthcare delivery in Africa but they have historically been left to their own devices to figure out how to be efficient and profitable,” he said.

“Our mission is to empower these essential service providers with the tools they need to manage day-to-day operations and seamlessly run their practices effectively.

“We spent a lot of time interacting with our customers in the process of delivering this product and the feedback has been great.

“We are excited by the opportunity to get the app into the hands of pharmacies and PPMVs across the country to support their ongoing success, as well as the health and wellbeing of the nation.

“Our customers can also access same-day delivery and leverage inventory financing to minimise cash-flow friction for routine orders and maximise sales opportunities.”

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