PaidHR, a Nigerian HR and payroll startup, has raised $1.8 million in seed funding, led by Accion Venture Lab, to enhance its services for small and medium-sized businesses across Africa.

• Funding round led by Accion Venture Lab along with participation from existing investors.
• The startup was founded by Seye Bandele (CEO) and Lekan Omotosho (CTO) in 2020.
• The funding will help expand PaidHR's presence in countries including Nigeria, Kenya, South Africa, and Ghana while aiming to support over 1,000 businesses in the next 2-3 years.

Standard Chartered Bank has completed the transfer of its Wealth & Retail Business operations to Access Bank PLC in Tanzania, finalizing the transition on June 20, 2025, as part of its strategic repositioning.

• The transition culminates a three-year divestment process initiated in April 2022.
• Herman Kasekende, Chief Executive for Standard Chartered Tanzania, highlighted the move as pivotal for refocusing on core strengths.
• Access Bank's acquisition provides a significant expansion opportunity, enhancing its presence across East Africa.

Standard Chartered has transferred its Tanzania Wealth & Retail Business to Access Bank PLC, marking the completion of its strategic divestment in the region.

• This move follows Standard Chartered's decision in April 2022 to exit the Wealth and Retail sector in Tanzania.
• Herman Kasekende, Chief Executive for Standard Chartered Tanzania, stated that the transition prioritizes clients and employees.
• Despite exiting the retail sector, Standard Chartered will maintain its focus on Corporate and Investment Banking in Tanzania, where it has operated since 1917.