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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

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    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

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    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

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    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

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    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

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    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

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    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

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    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

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    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

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    One Direction Star Liam Payne Dies after Hotel Balcony Fall

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    It’s important to set boundaries in entertainment industry – Reminisce

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Okra Enters the Cloud Market, Taking on Global Giants

by Iyanu Ale
March 5, 2025
in Startups, Tech
Reading Time: 2 mins read
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Okra Enters the Cloud Market, Taking on Global Giants
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Nigerian open banking startup Okra has made a bold move into the cloud computing space with the launch of Nebula, its cloud infrastructure service. The October 2024 rollout places Okra in direct competition with local providers like Nobus, Galaxy, and Layer3, as well as global giants such as Amazon Web Services (AWS) and Microsoft Azure.

This strategic shift signals a significant expansion beyond Okra’s core API business. The company, which was founded in 2019 and secured over $16 million in funding, built its reputation in financial data infrastructure. However, soaring infrastructure costs, forex fluctuations, and the naira’s devaluation have forced many Nigerian startups, including Okra, to rethink their operational models.

Okra’s CEO, Fara Ashiru Jituboh, highlighted that infrastructure expenses—mostly billed in dollars—were among the company’s biggest financial burdens, second only to payroll. The instability of foreign exchange rates made it increasingly difficult to manage costs, prompting Okra to explore an alternative. That search led to Nebula, a locally built cloud service designed to offer businesses a cost-effective and reliable solution.

Okra is not alone in this pivot. A growing number of Nigerian businesses are turning to local cloud providers to reduce costs and stabilise operations amid economic uncertainties. By positioning Nebula as a viable alternative to expensive foreign services, Okra hopes to capitalise on this trend and carve out a space in the competitive cloud market.

The key question now is: Can Okra truly compete with global cloud giants, and how much of the market can it capture?

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