Bento lays off its tech team

Safaricom, Kenya’s largest telecom, and commercial banks are once again making their case known. After submitting a report to the Central Bank of Kenya (CBK) stating that building a new fast payment system (FPS) could cost the apex bank $200 million and take four years, both parties are trying to convince the CBK that upgrading the Pesalink should be the way to go.

Safaricom and the KBA argue that improving Pesalink would be faster and cheaper than starting from scratch. However, a key concern is Pesalink’s transaction cap; the payment infrastructure, which currently allows only inter-bank transfers, supports $8.5 billion (KES1.1 trillion) in transactions, which raises questions about whether it can handle Kenya’s growing payment needs should other financial service providers come onboard. Compared to the payment infrastructure of some other African countries, this falls short.

Yet, this cap exists to manage liquidity, ensuring that banks have enough cash to settle transactions in real-time. Because their liquidity isn’t evenly distributed—bigger banks like Equity, KCB, and Co-op Bank have stronger reserves—smaller banks will struggle to process large payments quickly. 

If Pesalink is upgraded and more financial service providers join, smaller banks will likely have to secure additional funding or seek access to central bank liquidity to process high-value transactions to avoid a liquidity shortfall. 

Despite this, influential players in Kenya's financial ecosystem still see the Pesalink upgrade as a win. It will immediately solve the country's pressing lack of interoperability, a problem that has made it difficult to send and receive money across banks, fintechs, and mobile money operators.

The KBA is pro-Pesalink because the system is already bank-owned and operational, which banks see as a practical alternative to a completely new FPS. Yet, in all these talks about the Pesalink versus new FPS debate, there's one notable omission in discussions: fintechs. Kenyan fintechs—over 100 of them—have yet to comment on the matter that affects them. This is likely due to the absence of a unified body to present their opinions—or they could be engaging regulators behind-the-scenes.

However, the talks concern them, but fintechs may not be speaking up to prevent scrutiny from the regulator.

Yet, the gavel is firmly in the hand of the CBK: like the proponents, does it see Pesalink as a long-term solution for Kenya's payments? Or, will carrying the weight of building a new FPS and suffering the fragmentation problem for another four years give it the relief that it wants?

Bento, a Nigerian HR tech and payroll management startup, just delivered a masterclass on what not to do as a startup leader. After delaying January salaries amid a financial crunch, founder Ebun Okubanjo abruptly laid off the entire tech team when they protested for delayed salaries owed in January 2025. This comes hot on the heels of public scrutiny and allegations that the company forged tax receipts and failed to remit millions in taxes and pensions.

The result of the layoff is a stalled payroll system, a company in crisis, and a team of young engineers left stranded. Okubanjo, who resigned on January 30, defended the salary delay as “strategic” and treated the protest as resignations. He deactivated employees’ work emails without pay and offered to divide withheld salaries among those willing to stay—but no one accepted.

Bento’s now-dismissed tech team, composed mainly of young engineers, had been with the company for just over a year. Their departure has severely disrupted operations, particularly payroll processing, which had already faced manual intervention due to payment processor issues.

Despite the chaos, Bento claims transactions were intentionally halted to facilitate a transfer of platform credentials from Okubanjo to an interim overseer. However, at least two investors have denied knowledge of the company’s official stance.

With employees raising concerns about the long-term impact on their careers, Bento’s latest crisis raises serious questions about the company’s future. The situation leaves little confidence in the company’s ability to recover.

Nigeria is on a mission to boost its internet game with the National Broadband Alliance for Nigeria (NBAN), aiming for a whopping 70% broadband penetration by 2025. Spearheaded by the Nigerian Communications Commission (NCC), this initiative targets key locations like schools, hospitals, and even religious centres—because everyone deserves divine Wi-Fi speed.

To make this dream a reality, NBAN is bringing together state governments, telecom giants, and infrastructure wizards. The pilot programme kicks off in eight states, while the NCC has sweetened the deal (or soured it, depending on your perspective) with a 50% tariff hike for telecom operators—on the condition that service quality improves within three months. No pressure!

Meanwhile, MTN and 9mobile are teaming up for a roaming and spectrum-sharing deal, proving that even telecom rivals can be friends when it comes to better coverage. But challenges remain—low 4G and 5G adoption, multiple taxes, and, of course, the occasional infrastructure vandal. With NBAN pushing for regulatory streamlining and private-sector investment, Nigeria’s internet future is looking bright—hopefully bright enough to finally stream movies without buffering.

How much do you spend on food delivery per month? 

In Nigeria—where food claims 59% of household income—apps like Chowdeck and Glovo have evolved from a luxury to an indispensable productivity tool for the urban elite. Our latest deep dive pulls back the curtain on Nigeria’s food delivery superusers, who average as many as 236 orders per month in their quest to save precious time.

Meet Anita*, a Lagos-based marketer whose resolve to cut back on delivery orders crumbled just two weeks into January as mounting deadlines pushed her back into old habits. Then there’s Ada, a product designer who values the predictable efficiency of Chowdeck, even if it means bypassing variety. And Dolapo, a fintech director who seamlessly juggles subscriptions like ChowPass and Glovo Prime, turning a ₦400k monthly spend into her secret weapon for productivity.

These power users know that every minute saved is money earned—even if it comes with a high price tag. Curious about how they balance soaring costs with everyday convenience?

Dive into the full story and discover the fascinating world of Nigeria’s most dedicated food delivery superusers.