Caller identification and communication platform Truecaller has reached a significant milestone, crossing 450 million monthly active users globally. The Sweden-based company announced that it added 50 million new users in the past 10 months, including 15.5 million since the start of 2025. While India remains Truecaller’s largest market, the company is experiencing its fastest growth in emerging regions such as Africa and Latin America. Countries like Nigeria, Kenya, South Africa, Malaysia, and the United States have been identified as key drivers of this expansion. Speaking on the achievement, Truecaller’s CEO, Rishit Jhunjhunwala, highlighted the platform’s transformation over the years. “What started off as a basic caller ID has evolved into a loved communication platform that addresses diverse communication needs,” he said. “We are proud to now serve over 450 million users globally and remain committed to providing safe and innovative communication solutions.” The company has been enhancing its features to go beyond caller identification. Recent updates include AI-powered call screening and transcription, improved SMS and chat capabilities, and better integration for iOS users. These advancements aim to protect users before, during, and after calls or messages. Truecaller reported an average of 429.4 million active users per month in Q4 2024, with the figure rising to 434.5 million by the end of the quarter. Financially, the company posted strong results during this period, with net sales growing by 23% year-over-year and profit after tax increasing by 29%. Its stock has also performed well, gaining 33% so far this year. Despite its success, Truecaller faces challenges in its core Indian market as the country’s Department of Telecommunications pushes for mobile carriers to develop their own caller ID systems. This could create competition for the Swedish firm in its most important market. However, with smartphone adoption continuing to rise in emerging markets like Nigeria, Truecaller appears well-positioned for further growth. The company’s leadership transition last year, when Jhunjhunwala moved from Chief Product Officer to CEO, highlights its global ambitions while maintaining a strong focus on India.
MTN group CEO Ralph Mupita appointed deputy chair of GSMA board
Ralph Mupita, President and CEO of MTN Group, has been elected as the Deputy Chair of the GSMA Board of Directors. His appointment is effective immediately and will extend until the end of 2026. In this role, Mupita will assist the GSMA Chair in steering the strategic direction of the global organization, which represents mobile operators and companies within the broader mobile ecosystem. Expressing his gratitude, Mupita stated, “This appointment is a great honor, especially during a time of rapid technological advancements and increasing digital adoption across Africa. Mobile technology will play a pivotal role in addressing critical challenges and unlocking the full potential of Africa and the Global South.” Vivek Badrinath, Director General of GSMA, praised Mupita’s extensive experience, noting it would be invaluable in navigating the dynamic telecommunications landscape. “I look forward to working closely with him and the Board,” Badrinath added. Mupita has led MTN Group since September 2020, previously serving as its Chief Financial Officer. Under his leadership, MTN subsidiaries in Ghana, Nigeria, Rwanda, and Uganda were successfully listed. Before joining MTN, he was CEO of Old Mutual Emerging Markets, overseeing operations across 19 countries in Africa, Latin America, and Asia. With a BSc. Engineering (Hons) and MBA from the University of Cape Town, along with advanced management training at Harvard Business School, Mupita brings a wealth of expertise to his new role at GSMA.
PalmPay launches new debit card in partnership with Verve to advance financial inclusion
PalmPay, one of Africa’s fastest-growing fintech platforms, has unveiled its new PalmPay Debit Card in collaboration with Verve, Africa’s largest domestic card scheme. With over 35 million users and a network of 1.1 million agents and merchants across Nigeria, PalmPay aims to redefine digital banking by integrating traditional banking tools with its dynamic fintech ecosystem. The new debit card is seamlessly integrated with the PalmPay wallet, combining the convenience of a physical card with the flexibility of digital finance. Key FeaturesThe PalmPay Debit Card offers: Zero maintenance fees Easy in-app application and nationwide delivery Exclusive cashback rewards High-yield savings (up to 16% APR) Seamless offline and online payments across the Verve network. Accepted at major payment terminals nationwide, the card supports both debit and contactless transactions, bridging traditional banking with innovative digital solutions. Premium Offering for High-Value UsersPalmPay also introduced the PalmPay Premium Card for high-volume users. Benefits include: Priority customer support Higher cashback rates Enhanced savings interest Exclusive merchant rewards Speaking at the launch event in Lagos, PalmPay’s Managing Director, Chika Nwosu, emphasized the company’s commitment to leveraging technology to expand financial access. “This partnership enables us to offer secure, widely accepted payment cards integrated with the full power of PalmPay’s ecosystem,” he said. Vincent Ogbunude, Managing Director of Verve International, highlighted their shared mission of accelerating financial inclusion and delivering innovative payment solutions tailored to African consumers. PalmPay’s latest initiative aligns with its broader strategy to redefine digital banking in Nigeria by making it more accessible and rewarding for all users, from first-time account holders to professionals seeking advanced financial tools.
Nigeria unveils Africa’s first indigenous attack drones and bombs
The Nigerian Military, in collaboration with Briech UAS, has unveiled Africa’s first and largest indigenous attack drones and bombs. The unveiling ceremony took place on Wednesday at the Briech UAS headquarters in Abuja. General Christopher Musa, the Chief of Defence Staff (CDS), described this milestone as a critical step toward self-reliance in defense technology and national security. He emphasized that the locally manufactured drones would revolutionize Nigeria’s military capabilities, particularly in addressing complex security challenges. “These force multipliers will greatly enhance the operational effectiveness of our military,” Musa stated. “In a world where global politics complicate access to advanced military hardware, producing these solutions locally ensures faster acquisition and reduces dependence on foreign resources.” The drones are expected to play a vital role in intelligence gathering and combating asymmetric threats such as insurgencies. General Musa highlighted that reliance on foreign suppliers often leads to bureaucratic and diplomatic hurdles, which this initiative aims to overcome. Governor Caleb Mutfwang of Plateau State also highlighted the importance of promoting homegrown solutions. He revealed that Plateau State has already deployed some of these technologies to bolster local security operations. “We must ensure no one within our borders possesses capabilities that rival those entrusted with protecting our sovereignty,” Mutfwang said. Dr. Bright Echefu, Chairman of Briech UAS, pointed out that insurgent groups like Boko Haram have increasingly used commercial drones for attacks. The new indigenous drones will provide Nigeria with a strategic edge in countering such threats.
Sterling bank makes history by eliminating transfer fees for online transactions
Sterling Bank has announced the immediate elimination of transfer fees for all local online transactions conducted through its mobile app, which took effect on April 1, 2025. The announcement, initially met with skepticism due to its timing on April Fools’ Day, was swiftly clarified by the bank. Sterling Bank assured that the policy is genuine and will provide significant relief to individuals and small business owners who frequently conduct transactions. “We believe access to your own money shouldn’t come with a penalty,” said Obinna Ukachukwu, Growth Executive at Sterling Bank. “This is more than a financial decision; it’s a values-based one, reflecting our commitment to fair and inclusive banking.” Sterling Bank will refund customers who were charged transfer fees between midnight and 8:00 AM on April 1, ensuring a smooth transition to the new policy. This move has sparked widespread approval and pressure on other banks to follow suit, potentially setting a new standard for the industry.
Court Sentences Airline Passenger to 3 Months Over $30,000 Non-Declaration in Lagos
Justice Deinde I. Dipeolu of the Federal High Court, Ikoyi, Lagos, has sentenced Okunfulure Olusola Steve to three months imprisonment for failing to declare $30,000 cash at the Murtala Muhammed International Airport. The ruling, delivered on Wednesday, April 2, 2025, deemed the act a violation of Nigeria’s money laundering laws. Steve was apprehended by Nigeria Customs Service (NCS) operatives on March 28 while attempting to board a Delta Airlines flight to Atlanta, USA. Despite declaring he carried only Naira, a search revealed $30,000 in undeclared foreign currency. He was handed over to the Economic and Financial Crimes Commission (EFCC) for further investigation. During his arraignment, Steve pleaded guilty to charges under Section 3(5) of the Money Laundering (Prevention and Prohibition) Act, 2022. Justice Dipeolu ordered the forfeiture of $20,000 from the undeclared sum to the Federal Government and ruled that Steve’s sentence be effective from his arrest date. This conviction follows a similar case days earlier involving another passenger found with $578,000 undeclared at the same airport.