Weekly Recap: Lidya Folds Up, DStv Slashes Price by 40% & More

Technology news this week in Africa was a mix of achievement and unrest. While fintech giant Moniepoint in Nigeria raised new funds to push international growth, another startup, Lidya, went under after years of financial strain. Telecom news also swirled around MTN’s planned maintenance in northern Nigeria, Lebara’s intentions to make an entry, and MultiChoice’s retro comeback of DStv Open Time — an insight into a thriving but competitive industry.

From boardrooms to broadband lines, technology companies are retooling their growth strategies in response to shifting consumer habits and tighter capital conditions. Here is a quick rundown of the week’s top news stories from Techstoriex.

Lidya Collapses After Raising $16.45 Million

Nigerian-born online lender Lidya has officially closed up despite having raised $16.45 million since its establishment. Lidya informed clients it could no longer operate after experiencing “serious financial difficulties,” and numerous ones found themselves unable to access their funds. What was previously growing fintech offering quick, collateral-free loans to SMEs, Lidya’s failure points to the growing weakness of online lending startups in Nigeria.

The firm, which was started by former Jumia executives Tunde Kehinde and Ercin Eksin, ventured out into Europe before folding back to Nigeria due to mounting losses and management exits. Frozen funds and unresolved transactions were the stories of its recent months, a testament to deeper investor suspicion of Nigeria’s online lending sector.

MultiChoice Cuts DStv Decoder Prices as Open Time Revives

MultiChoice is reviving DStv Open Time, offering every satellite client gratuitous Premium access between 7–9 November 2025 in honor of its 30th birthday. The offer falls during a busy sports weekend and features a return by favorite South African television personalities.

Apart from nostalgia, decoder prices will come down by up to 40% and reward programmes expanded. The move comes after Canal+ acquired MultiChoice Group and is part of steps to revamp DStv’s brand and ward off competition from international streaming majors Netflix and Showmax.

Lebara Begins Nigeria Recruitment Before 2026 Launch

International MVNO Lebara has begun recruiting for 28 key positions in Nigeria as the business prepares to go live officially in 2026. Vacancies are for leadership, financial, innovation, and network operations, indicating the business’s commitment to putting in place a solid local infrastructure ahead of rollout.

Renowned for providing low-cost international connectivity to diaspora populations, Lebara will place its Nigerian service in the path of innovation and price competitiveness. It follows the announcement by Vitel Wireless and ntel of their MVNO services, marking a new rivalry in Nigeria’s 220-million cellular market.

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MTN to Discontinue Services in Three States to Upgrade Network

MTN Nigeria will temporarily suspend service in parts of Adamawa, Borno, and Kano States on October 25, 2025, for a scheduled two-hour maintenance intervention. The upgrade will deploy new fibre cables to replace aged ones and improve network resiliency in 15 local government areas.

The move follows other similar upgrade steps during the first half of this year, as the telecommunication giant assured clients that the exercise will ensure increased speed, data consistency, and service continuity in northern Nigeria. MTN apologized for the inconvenience, requesting that customers make adjustments accordingly.

Moniepoint Raises $90m to Fuel Expansion Drive

Fintech behemoth Moniepoint raised yet another $90 million, completing its $200 million Series C funding and solidifying its position as one of Africa’s largest payment firms. The round saw participation from investors including Visa, IFC, LeapFrog, and Google’s Africa Investment Fund.

Moniepoint will use the funds to expand in Africa and into Europe following approval for its acquisition of Kenya-based Sumac Microfinance Bank. It also launched MonieWorld, a remittance service in the UK that can send cash transfers instantly to Nigeria, in accordance with its growing desire to dominate cross-border payments.