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Chipper Cash Hit Unicorn Status as They Raise $100m Series C Funding

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Chipper Cash Hit Unicorn Status as They Raise $100m Series C Funding

This funding round was led by SVB capital, the investment arm of U.S. High-tech commercial bank, Silicon Valley bank. Others who participated in this round include existing investors — deciens capital, ribbit capital, bezos expeditions, one way ventures, 500 startups, tribe capital, and brue2 ventures.

Founded in 2018 by ugandan ham Serunjogi and Ghanaian Maijid Moujaled, chipper cash offers mobile-based, no fee, p2p payment services in seven countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya. Now it has expanded to a new market outside Africa, the UK.

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In November 2020, chipper cash raised $30 million series b funding led by ribbit capital and jeff bezos’ fund, bezos expeditions. This was after closing a $13.8 million series a round from deciens capital and other investors in the same year.

This new funding round will be used to introduce more products and grow its team. The company currently has more than 200 employees and plans to increase its workforce by hiring 100 staff throughout the year.

Read Also:

Afreximbank, NEXIM Okay $750,000 Grant for Nigeria’s Inland Waterways

 

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Customs Corner

Nigeria Customs Service Hosts 3-Day Workshop on Data Generation, Analytics

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Author: Ruth Akata, Abang Maryrose.

The Nigeria Customs Service (NCS) has inaugurated a three-day capacity-building workshop on data generation, analytics, and storage on Monday, 13 May 2024, at the Nigeria Customs Command and Staff College (NCCSC), Gwagwalada to enhance the service’s capabilities in modern customs operations through improved data handling.

ACG Malanta Yusuf, representing the Comptroller-General of Customs (CGC), Adewale Adeniyi, emphasised the critical role of data in strategic planning and operational efficiency. He also highlighted that effective decision-making relies heavily on robust data generation and analytics. He stressed that historical data is essential for organisations like Customs, responsible for border management and trade facilitation.

“This workshop is designed to equip officers with comprehensive knowledge in various aspects of data management.” He said.

ACG Yusuf encouraged attendees to engage fully, noting that the training would enhance their ability to understand smuggling networks, identify high-risk threats, and gather intelligence. “This practical learning experience aims to empower you in your roles, contributing to the overall success of the NCS.” He emphasised.

He also highlighted the importance of innovative solutions and the integration of geospatial intelligence into current data analysis practices. He called on officers to approach the workshop enthusiastically, emphasising that the skills acquired would foster professional development and operational efficiency.

Expressing gratitude, Yusuf thanked CGC Adeniyi, the organisers, and the participants for their contributions to the session. He hoped the training would serve as a catalyst for continuous learning and improvement within the NCS.

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Customs Corner

CGC Adeniyi Decorates Newly Confirmed Members of Customs Management Team

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Author: Muhammad Bashir.

The Comptroller-General of Customs, Adewale Adeniyi, on Wednesday, 15 May 2024, decorated thirteen (13) members of his management team with their new ranks at the Nigeria Customs Service Headquarters in Abuja amidst calls to redouble their commitment and dedication to the success of the service.

In a press statement signed immediately after the ceremony by Chief Superintendent of Customs Abdullahi Maiwada, the spokesman of the service revealed that CGC Adewale Adeniyi decorated 5 Deputy Comptroller-Generals and 8 Assistant Comptroller-Generals following the approval of their appointments by the Nigeria Customs Service Board (NCSB) on Tuesday, 14 May 2024.

According to the statement, their appointment and approval followed the due process of the Federal Character Commission’s laws and principles of seniority. Most importantly, their appointment was in view of their exemplified dedication and commitment to the service.”

Shortly before decorating the 13 newly promoted officers, the CGC charged them to double their devotion and determination to promote the Nigeria Customs Service selflessly.

While urging them to intensify their contribution to the fight against smuggling, revenue generation and trade facilitation, the customs boss also enjoined the new heads of departments to ensure they have a shared vision on how to fulfil the mandate for each department.

He said, “I must emphasise, as usual, that this level of your placement in the service requires your utmost discipline at all times. You must conduct yourselves in a manner that sets a good example for the officers behind you.”

The decorated DCGs are Suleiman Bomai as DCG/Commander Training and Doctrine Command; Bello Jibo as DCG in charge of Enforcement Inspection & Investigation; Beatrice Nwafor as DCG in charge of Excise, Free Trade Zone & Industrial Incentives; and Caroline Niagwan as DCG Tariff & Trade.

The newly confirmed Assistant Comptroller-Generals of Customs are Baba Imam as ACG Board, Adekunle Oloyode as ACG Trade & Tariff, and Sambo Dangaladima as ACG/Zonal Coordinator Zone ‘B’. Abdulrazaq Abdulazeez as ACG/Zonal Coordinator Zone ‘D’; and Sai’du Yusuf as ACG Human Resource Development.

Others are NP Umoh as ACG Training and Doctrine Command, Charles Obih as ACG/Zonal Coordinator Zone ‘C’, and Ciroma Sulaiman as ACG Strategic Research and Policy.

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Customs Corner

Ogun I Customs Intercepts Contraband Worth N380 Million in 1Month

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Author: Abass Quadri.

The Nigeria Customs Service, Ogun I Area Command, has recorded a milestone with the interception of contraband worth N380 million in one month.

Addressing newsmen at his maiden briefing on Thursday, 9 May 2024, the Customs Area Controller (CAC), Comptroller James Ojo, said the achievement was recorded within 23 days of his assumption of office.

“Since I took over the leadership of the Command on 16 April 2024, we have hit the ground running and to the glory of God, it is with pleasure that we announce to you our anti-smuggling exploits and other achievements recorded.”

“So far, the seizures under review include 90 sacks & 1,309 parcels of Cannabis Sativa, 1,596 pieces of foreign used tyres, 2,922 bags of foreign parboiled rice, 32 bales of used clothes, 1,603 cartons of frozen poultry products, and 22,600 litres of Premium Motor Spirit among others”. He Stated.

The CAC further explained that the cumulative Duty Paid Value (DPV) of the seized items amounts to N380,370,911.00, adding that the intelligence-driven interception took place at different locations within Ogun State with the strategic efforts of the intelligence Network.

He urged stakeholders to remain compliant and assured of the Command’s maximum cooperation.

“Let me use this medium to encourage our compliant traders to remain steadfast and be assured of our maximum cooperation. Our doors are wide open for consultation and required support”. He stated.

The CAC warned economic saboteurs to avoid smuggling activities and embrace legitimate trade. “Anyone caught in the act will be made to face the wrath of the law”.

Comptroller Ojo appreciated the Comptroller General of Customs, Adewale Adeniyi and his management for their support, which has helped motivate gallant officers in executing their duties as well as critical stakeholders in playing their part.

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