Nigeria’s Egoras Technologies is preparing to launch a business-focused smartphone designed to give small and medium-sized enterprises direct access to capital markets, in a move that could reshape how companies raise funds in Africa’s largest economy.
The device, known as the Cube Phone, is integrated with ContisX, a new securities exchange that has received approval in principle from the Securities and Exchange Commission of Nigeria and is expected to go live in September 2026.
Positioned as an all-in-one business operating system, the phone combines payments, artificial intelligence tools, business management functions, and capital market access within a single platform. Users are required to set up a ContisX-linked smart account on the device, enabling access to embedded financial services and market infrastructure.
At the core of the proposition is direct integration with ContisX, a full-service exchange designed to operate alongside existing platforms such as the Nigerian Exchange, with the aim of broadening access to capital formation.
Through the integration, SMEs will be able to raise funds, issue financial instruments, and participate in securities markets directly from their mobile devices.
The exchange’s approval-in-principle marks an early stage in Nigeria’s capital market licensing process, allowing it to proceed with final operational and compliance requirements ahead of launch. The clearance signals a degree of regulatory openness to new market infrastructure aimed at widening participation in the financial system.
Egoras said the Cube Phone is designed to address one of the most persistent constraints facing small businesses in Nigeria: access to finance. By embedding fundraising tools into a mobile device, the company aims to bypass traditional barriers such as high listing costs, complex documentation, and reliance on institutional intermediaries.
A key feature is the ContisX Economic Instrument, a primary-market funding tool that allows SMEs to raise working capital by issuing instruments linked to future economic output. The structure is intended to offer faster access to financing than conventional equity or debt issuance.
According to the company, the system continuously tracks business activity through integrated payments and operational data generated on the device. This allows ContisX to assess performance and determine eligibility for progressively larger funding opportunities.
The Chief Executive Officer of Egoras Technologies said the product targets the structural financing gap affecting SMEs. “Every SME’s biggest problem is capital,” he said. “With this phone, once a business owner sets it up, a ContisX smart account is created automatically, enabling them to issue securities directly into the capital market.”
He added that real-time business data would underpin the system’s funding model. “As the business grows and performs, the system tracks that and determines when it can move from raising small amounts to accessing larger capital pools,” he said.
Beyond financing, the Cube Phone includes a pre-installed AI Business Suite intended to handle core operational functions. The suite features tools for legal documentation and regulatory compliance, financial management and tax calculations, basic software development, and human resources management.
Egoras said data processed through the system is encrypted using on-device private keys and stored on blockchain infrastructure, limiting access by third parties. The device will also operate under a zero-rating arrangement with Airtel Nigeria, removing data charges for business activities carried out on the CubeOS platform, including payments, AI usage, and applications.
