Nigerian fintech Juicyway is establishing itself as the essential cross-border payments infrastructure for African enterprises, having already facilitated over $1 billion in FX volume by directly addressing the chronic dollar liquidity and international settlement challenges that hamper business growth.
Founded by a team of ex-bankers and FX traders, Juicyway identified a critical gap in the market: while many fintechs focus on retail consumers, mid-market African businesses involved in trade were left struggling with bureaucratic banks and unfavorable exchange rates. The startup’s solution is a B2B-focused platform that allows African businesses to open virtual USD and CAD accounts in their own company names.
“We provide a platform for international receivables, competitive FX conversion through regulated providers, and fast settlements using both traditional and stablecoin rails,” said CEO Ife Johnson, highlighting the enterprise-first approach that differentiates Juicyway from competitors.
The company’s product-market fit is evidenced by robust metrics. Bootstrapped and profitable, Juicyway has built a base of over 12,000 business customers, with monthly transaction volume now exceeding $300 million. Its client retention rate of over 85% underscores the critical nature of its service for oil and gas traders, logistics firms, and FMCG importers who depend on reliable foreign currency access.
This traction, fueled by Nigeria’s persistent FX challenges, led to a 220% year-on-year customer growth in 2024. The startup has also secured a strategic Canadian MSB license and built partnerships with global liquidity providers.
Currently active across multiple currency corridors, Juicyway is now preparing for a strategic growth round to fund further expansion. The roadmap includes scaling its enterprise APIs and moving into Francophone West and Southern Africa in 2026.
The company’s medium-term vision is to become the definitive B2B FX infrastructure layer connecting African businesses to global liquidity, positioning it not just as a fintech, but as vital plumbing for the continent’s international trade.
vestment funds in 2026 under the flagship $617 million iDICE programme. The new vehicles—a Creative Sector Fund and a “Fund of Funds”—are designed to create a layered capital infrastructure for startups, moving beyond one-off investments to systemic support.
This announcement, following the programme’s recent anchor investment in a Ventures Platform fund, signals a strategic sequencing of public capital to catalyze private investment. The “Fund of Funds” will specifically target and capitalize smaller, emerging investment managers, thereby broadening the base of financial support available to entrepreneurs across the country.
Vice President Kashim Shettima, Chair of the iDICE Steering Committee, labeled the progress “an exciting milestone” that aligns with the administration’s core objective of unlocking the potential of Nigerian youth and positioning the nation as Africa’s premier hub for technology and creative entrepreneurship.
The iDICE programme, a multi-partner initiative supported by the African Development Bank (AfDB), Islamic Development Bank (IsDB), and French Development Agency (AFD), operates on a three-pillar model: skills development, access to finance, and an enabling environment. The upcoming funds fall squarely under the finance pillar, ensuring that the pipeline of talent developed by the programme has the capital required to scale.
The government’s initial deployment, a cornerstone investment in the Ventures Platform Fund II which recently achieved a $64 million first close, demonstrates the model in action. This fund has attracted major global co-investors like the International Finance Corporation (IFC) and British International Investment (BII), validating the government’s strategy of using its capital to de-risk the market for international institutions.
By sequencing its investments—starting with a technology venture fund and following with dedicated creative and fund-of-funds vehicles—the iDICE programme is methodically constructing a financial ecosystem. This structured approach aims not just to fund startups, but to build a resilient, self-sustaining engine for job creation and economic diversification in line with the Renewed Hope Agenda.
