In a week filled with exciting developments in Africa's fintech landscape, Paystack, a leading Nigerian fintech company, has launched Zap, its first consumer-focused app. The new app allows users to send money to any Nigerian bank account, marking a significant expansion of Paystack's services beyond its traditional business-focused offerings.

Zap's features are designed to provide a seamless and fast transfer experience, with deposits powered by Paystack's partnership with Titan Trust Bank. Users can link their cards to Zap, enabling them to send money directly from their Bank of America card to a Nigerian bank account in a matter of seconds. This innovation has the potential to open up new possibilities for Nigerians abroad, making it easier for them to send money back home.

While Zap's launch is a significant milestone for Paystack, the app's pricing model has raised some eyebrows. Depositing and withdrawing ₦10,000 ($6.57) costs ₦50 ($0.033), which is more expensive than other consumer-focused fintechs like OPay, PalmPay, and Moniepoint. Paystack believes that its superior transfer experience and revisited pricing will eventually win over users, but Nigeria's current macroeconomic pressures may pose a challenge.

In other news, Cassava Technologies, a South African telecom infrastructure provider, is building Africa's first AI factory in partnership with NVIDIA. The high-tech data centre, set to launch in June 2025, aims to keep Africa's AI computing power local, eliminating the need for businesses and researchers to rely on overseas computing power. This development has significant implications for the continent's cloud and data centre market, as it offers a homegrown alternative to global players like Microsoft and G42.

Meanwhile, a Nairobi court has dismissed a case filed by Davidson Ivusa, who claimed that Safaricom stole his idea for the Reverse Call feature. The court ruled that Ivusa's concept was sent unsolicited, and there was no evidence that Safaricom undertook to hold it in trust or act in a fiduciary capacity. The ruling serves as a reminder to Kenyan creators that ideas alone are not enough to win a court battle, and that contracts, non-disclosure agreements (NDAs), and proof of execution are essential.

In addition, NIBSS and Ceva are vying for a share of the lucrative Kenyan FPS contract, with NIBSS touting its reputation as a payments switch that supports multiple digital payment forms in Nigeria. The company's ability to deliver a superior transfer experience and revisit its pricing will be crucial in its bid to win over the Central Bank of Kenya (CBK).

Finally, Lagos Innovates (LSETF) is offering workspace vouchers to startups in Lagos to ease rising operational costs, while Lisk and CV Labs are inviting African Web3 startups to apply for Batch 2 of the Lisk Blockchain Incubation Hub. These opportunities highlight the ongoing efforts to support innovation and entrepreneurship in Africa's tech ecosystem.