AfricaWorks Insights

AfricaWorks Insights

6/20/2025, 2:30:42 PM

🇩🇿 Algerian HR tech startup Talenteo secured a six-figure investment from 216 Capital to expand its AI-powered SaaS platform for payroll and HR across Africa. 🌍 With 10,000+ users and 150 businesses onboard, Talenteo streamlines admin, payroll, and compliance for SMEs—the continent’s biggest job creators. 💼 The funding will support expansion into Tunisia and other Francophone markets as demand for digital HR grows. 🚀 🪙 Yellow Card is teaming up with Visa to roll out stablecoin-powered payments in Africa by 2025, starting in at least one market. 🌍 The partnership aims to reduce cross-border transfer costs and improve treasury operations using Visa’s infrastructure. 💸 With rising stablecoin adoption, Africa is positioned as a key player in the $3.7T global market. 🚀 Tokyo-based Cordia Directions Inc., operator of Kenya’s used-car platform Peach Cars, raised $11M in a Series A round led by Suzuki Global Ventures—the largest mobility-sector raise in Africa at this stage. 🚗 Peach Cars is transforming Kenya’s informal used-car market with inspections, transparent pricing, financing, and after-sales support. 🔍 With thousands of transactions done, Peach is scaling beyond Kenya, setting a new transparency standard in African mobility. 🌍 The World Bank Group is considering a $500M credit guarantee to unlock private funding for South Africa’s $25B transmission grid expansion, adding 14,500 km of power lines over the next decade ⚡️. The facility targets bottlenecks blocking 20GW of renewable energy from connecting to the grid, supporting projects mainly in high-renewable, remote regions. 🌞💨 The standalone guarantee would cover payment defaults, helping avoid extra sovereign debt amid strained finances.

AfricaWorks Insights

6/19/2025, 2:33:12 PM

South Africa’s fastest-growing solar-as-a-service provider, Wetility, has secured a 🇿🇦 ZAR500M (US$27.8M) funding deal with Jaltech to expand clean, affordable solar access to over 1 million homes and businesses. ☀️🔋 The funding will add 16 MW of solar capacity, avoid 250,000+ tons of CO₂ emissions, and accelerate Wetility’s innovative subscription-based solar rollout. 📈🌍 This partnership marks a major step in reshaping South Africa’s residential and SME energy future — one roof at a time. 🏠⚡ 🇬🇼 Guinea‑Bissau just scored full approval for Starlink, joining 20+ African nations on SpaceX’s LEO network and tackling a landscape where 67.5 % of people are still offline. 🌐 The satellite service promises to leapfrog fragile fibre links, bringing high‑speed, low‑latency internet to schools, clinics, and rural communities historically left out of the digital economy. 💸 But with hardware at ~$400 and monthly fees of $30‑$50, widespread impact hinges on subsidies, shared hubs, and savvy partnerships to make connectivity truly inclusive. 🇳🇬 Nigeria has signed a $51.2M agreement with a Japanese consortium, backed by JICA, to build a cutting-edge Startup Hub and boost social enterprise infrastructure. 🤝💡The initiative includes a $11.2M digital innovation centre via NITDA and a $40M startup-friendly ecosystem rollout led by NSIA. 🚀 With strong Nigeria–Japan ties and support for President Tinubu’s Renewed Hope Agenda, the project aims to scale homegrown innovation and deepen global tech collaborations. 🌍💼 🚗🇿🇦 MyNextCar has raised $10M to expand its fleet with 1,500 budget-friendly Bolt Lite vehicles, boosting access to ride-hailing for South Africa’s youth and underserved drivers. 🔑 Backed by Emso Asset Management, Bolt, and impact investors, the deal reflects rising confidence in vehicle financing models that drive both mobility and livelihoods. 💼 Despite tensions with minibus taxi operators, the move signals growing institutional interest in inclusive, tech-enabled transport solutions. 🌍

AfricaWorks Insights

6/18/2025, 2:36:30 PM

🚀 South African startup Open Access Energy raised $1.8M seed funding to scale EnergyPro, its AI-powered platform enabling electricity trading via decentralised infrastructure. ⚡ The cloud-based system supports energy wheeling by automating metering, risk management, and real-time load balancing. 🌍 Backed by E3 Capital, Equator VC & Factor E Ventures, OAE is driving South Africa’s clean energy shift through private generation and local distribution solutions. 🇳🇬 Nigeria’s Bosun Tijani has been elected Vice-Chair of the ITU Council (2025–2026) — the country's first leadership role at the ITU in nearly 50 years. 🌍 His appointment boosts Africa’s voice in global digital governance, with a focus on inclusive tech, resilient infrastructure, and digital literacy. 💻 Tijani aims to align global ICT policy influence with Nigeria’s national goals, driving equitable digital growth across the continent. 📱 MTN, Chenosis, and TransUnion Africa have launched Telco Data Score, a credit scoring tool using mobile call data to help credit-invisible South Africans access financial services. 🔓 By leveraging telco usage patterns as a proxy for financial behaviour, the tool boosts financial inclusion, especially for under-25s and first-time borrowers. 💡 With a 25–35% improvement in predictive accuracy, this Africa-born innovation supports responsible lending while unlocking long-term economic potential. 🚚 Logidoo has launched a new logistics corridor linking Belgium–Casablanca–Dakar, expanding access between Europe, North Africa, and West Africa. 🌍 In partnership with a Belgian operator, the route offers end-to-end logistics—from storage to last-mile delivery—for European brands entering African markets. 📦 This move positions Morocco as a key hub for pan-African and cross-border trade.

AfricaWorks Insights

6/17/2025, 2:30:22 PM

🚀 Egypt’s DisrupTech Ventures has invested in Nigeria’s Winich Farms as part of its Pre-Series A round, marking its first pan-African bet on agri-fintech. 🌾 Winich connects 180K+ smallholder farmers to markets and finance across 29 Nigerian states, using digital tools like Winich Cards to boost inclusion and productivity. 🌍 The startup plans to scale continent-wide, tapping into the growing demand for traceable, tech-driven agricultural supply chains. 🚚 Egyptian fintech Octane has raised $5.2M to digitise fleet fuel and expense management across MENA. 💳 Its unified fleet wallet—covering fuel, cash, and EV charging—serves 1,600+ companies and 250K+ vehicles via 2,800 stations. ⚡ The new funding will fuel expansion and tackle inefficiencies in Egypt’s logistics-heavy economy. 🏆 Cape Town’s Loop has won the pitch competition at Sentech Africa Tech Week, outshining 6 African startups with its bold mobility and digital payments solution. 💳 Loop enables safer, cashless transactions for small businesses and transport providers, positioning itself to scale across Africa. 🌍 CEO Imtiyaaz Riley says the win signals that Africa is ready for homegrown innovation that moves real value in underserved communities. 🇳🇬📲 Nigerian-founded fintech LemFi has acquired UK-based credit startup Pillar, marking a major leap beyond remittances into debit cards, multi-currency wallets, and credit services for migrants. Now serving 2M+ users and processing $1B+ monthly, LemFi is scaling fast across the UK and EU — backed by $86M in funding and a vision to empower the global African diaspora. 🌍💳

AfricaWorks Insights

6/13/2025, 2:32:53 PM

Moove, a Lagos-born startup, is raising $300M to push its valuation past $1B 💰 as it expands from Uber driver financing in Africa, India, and the UK to managing Waymo robotaxi fleets in the U.S. 🇺🇸. Through its "drive-to-own" model 🚗, drivers eventually own vehicles by paying with their earnings. With $360M in annual revenue and Uber and Alphabet as key partners, Moove is fast becoming a major player in urban mobility. 🌍 WeThinkCode has secured a $2M grant from Google.org to train 12,000 South African and Kenyan learners in practical AI skills 🧠, including non-tech professionals in fields like healthcare and law. Courses will be delivered both online and in person 📚, with corporate partners helping graduates get hired. This move highlights Africa's rising role in the global AI economy. 🌍 ⚡ South Africa’s Zero Carbon Charge has secured a ZAR100M (US$5.6M) investment from DBSA to expand its off-grid, solar-powered EV charging network across the country. 🚗 The startup’s model powers ultra-fast stations directly at the point of use, bypassing Eskom and ensuring sustainable, reliable energy for electric mobility. This marks a major step in South Africa’s shift to a net-zero transport economy, with charging stations set up every 150km on national roads. 📡 Vodacom South Africa is investing ZAR100M (US$5.6M)to build 106 new base stations in deep rural KwaZulu-Natal, aiming to connect hundreds of thousands and bridge the digital divide. The rollout spans 11+ districts, driving digital inclusion and empowering underserved communities with access to eHealth, eEducation, and eCommerce. 🚀 Part of its Rural Coverage Acceleration Programme, the initiative supports economic growth, with Vodacom urging faster approvals to speed up this transformation.

AfricaWorks Insights

5/21/2025, 2:28:56 PM

🚲 Ghana’s Wahu Mobility has secured a landmark carbon credit deal with Switzerland, becoming the second global e-mobility project approved under Article 6 of the Paris Agreement. 🌍 The startup will deploy 117,000 e-bikes to avoid over 752,000 tons of CO₂ by 2030, positioning Ghana as a rising player in the carbon finance space. 💰 This marks a key step in Africa’s clean tech and carbon market evolution. 🤝 South African ICT distribution company, Axiz has partnered with global AV leader Jabra to bring advanced audio and video solutions to South Africa, boosting its portfolio for hybrid and remote work needs. 🎧 The alliance enables professionals to stay connected and productive with tools like noise-cancelling headsets and smart video conferencing tech. 🌍 Both companies aim to expand their regional footprint and meet growing demand for high-performance collaboration tools. 🍲 Nigerian food vendor Amoke Oge has achieved a major milestone with N2.3 billion in revenue from 500,000 deliveries on Chowdeck, becoming the first woman-led business on the platform to do so. 🚀 Powered by digital growth and improved logistics, this success highlights the rising impact of food tech in Nigeria.📦 🚌 Kenyan startup BuuPass has been named “Most Innovative Online Travel Booking Solution in Africa” by International Explorer, recognizing its impact on digitising transport across the continent. 🌍 Since 2016, BuuPass has sold over 16 million tickets and generated $100M+ in value, making travel more accessible via web, app, and USSD while empowering bus operators with powerful SaaS tools. 🏆

AfricaWorks Insights

5/22/2025, 2:37:20 PM

💸 Nigerian fintech Carrot Credit raised $4.2M seed funding led by MaC Venture Capital to grow its asset-backed lending platform across Africa 🌍. Founded in 2023, it lets users borrow by pledging digital investments like stocks or bonds 📈 as collateral—offering flexible terms, low rates, and a seamless B2B2C model integrated into fintech platforms 🤝. 📈 Egyptian fintech Valu got EGX approval to go public, with EFG Holding set to distribute 20.5% of Valu shares to shareholders instead of cash dividends 💸. It raised $27M from Saudi investors to boost capital and scale digital services post-listing, while retaining strategic backing from EFG 🏦. 🏭 Dangote Refinery has partnered exclusively with Vinmar’s Premier Product Marketing to export its polypropylene globally 🌍, following the recent launch of its $2B Lekki plant producing 900,000 mt/year using INEOS tech ⚙️. This move positions Dangote as Africa’s top polypropylene producer, set to shake up global markets across packaging, textiles, and construction 📦👗🚧. 💰 Seeds & Pennies, Liberty Assured’s retail lending arm, raised $1.1M to expand inclusive credit access in Nigeria, focusing on women-led microbusinesses and launching BNPL products for MSMEs, mobile devices 📱, and rent 🏠. With 40 branches (80% female workforce) and plans to double reach by 2026, the funding will boost lending, scale AI-driven collections, and deepen community impact 💼.

AfricaWorks Insights

5/20/2025, 2:32:28 PM

🚀 MaxAB-Wasoko has acquired Egypt’s Fatura from EFG Finance, accelerating its mission to unify Africa’s B2B commerce and fintech landscape. 🤝 The deal brings 626+ wholesalers, expands MaxAB-Wasoko’s reach to 5 new cities, and boosts its fintech capabilities, now financing 9%+ of e-commerce sales. 📈 With Fatura expected to drive 25% of Egypt revenue by 2025, this move cements MaxAB-Wasoko’s push to build a retail super app for African SMEs. 🌍 🚗 Egyptian startup Sylndr just raised $15.7M in Series A funding to scale its digital used-car marketplace — tackling Egypt’s fragmented auto market with transparency, financing, and servicing all in one platform. 💸 Founded in 2021, Sylndr has now raised over $30M and plans to expand inventory, tech, and brand reach as demand for affordable cars surges amid economic pressure. 🌍 The African Space Agency (AfSA) officially opened its doors in Cairo, marking a major step toward improving climate resilience, satellite infrastructure, and data-sharing across the region. With aims to launch satellites, expand climate monitoring, and unify fragmented space efforts, AfSA is set to boost Africa’s $19.5B space economy 📡. Backed by the AU and international collaborations, this move positions Africa as a serious player in global space innovation and sustainability. 🌌 📡 The state of Nigeria 🇳🇬 has secured $22M in foreign direct investment to expand its fibre optic network by 2,700km — pushing toward a total of 6,000km. Spearheaded by LASIMRA, the move boosts digital access, supports over 1M new internet users, and aligns with Governor Sanwo-Olu’s vision of making Lagos Africa’s top tech hub by 2025. 🚀

AfricaWorks Insights

5/23/2025, 2:42:35 PM

💳 Cyprus-based fintech SPAYZ.io expands into South Africa, Egypt, and Cameroon targeting Africa's $1.5 trillion digital payments market by 2030 🌍 The company will launch EFT transfers in SA's $158B card market, enter Egypt's $104B digital space, and tap Cameroon's mobile money dominance (71% of CEMAC transactions) 🚀 💳 Kredete launches Africa's first stablecoin-backed credit card (built with Visa, Stellar, and Rain) for users across 41+ African countries to spend USDC globally at 150M+ merchants with real-time settlement 🌍 The card addresses high fees and limited access issues by combining US dollar-backed stablecoins with instant blockchain settlement, serving freelancers, families, businesses, and students across Africa 🚀 💰 Egyptian fintech ElGameya raises seven-figure funding led by AYADY for Investment and Development to modernize traditional Rotating Savings and Credit Association (ROSCA) model through mobile app 🇪🇬 Founded in 2020, the startup has achieved 50% month-on-month growth with 1M registered users and partnerships with 150+ companies/schools, offering customizable savings circles for education, marriage, and business goals 📱 🚢 Regional Maritime Development Bank (RMDB) officially launches operations in Nigeria after 16 years of development, aimed at boosting regional trade and maritime sector economic growth 🇳🇬 Marine and Blue Economy Minister Adegboyega Oyetola announced the milestone, emphasizing it ends institutional deadlock and reaffirms Nigeria's commitment to regional integration and economic cooperation ⚓

AfricaWorks Insights

5/19/2025, 2:30:42 PM

🇰🇪 M-PESA processed over $450.8B in transactions in FY2025, marking an 18.3% YoY increase and reinforcing its dominance in African fintech. Financial services now make up 11.6% of Vodacom Group's service revenue, with 87.7M+ users across 7 countries. As part of Vision 2030, Vodacom aims to reach 120M financial services users and grow revenue beyond mobile to 30% of total service income. 🇪🇬Egyptian investment platform Thndr has raised $15.7M in fresh funding led by Prosus Ventures, bringing its total to nearly $40M. Founded in 2020, Thndr is democratizing investing in MENA with commission-free trading, no minimums, and an education-first approach - onboarding over 1M users in 2024. As it eyes GCC expansion and access to U.S. stocks 📈, Thndr is reshaping fintech in emerging markets by unlocking retail investing for the underserved 🚀 🚀 South African edtech startup TTRO has expanded into Saudi Arabia, opening a Riyadh office to support the Kingdom’s Vision 2030 goals 📚. Known for delivering innovative, impact-driven digital learning solutions, TTRO partners with governments and businesses to build future-ready skills - now strengthening its global presence alongside offices in the UAE, UK, and New Zealand. 🌍 💸 Egypt’s fintech scene just hit a milestone: Catalyst Partners Middle East (CPME) has acquired digital lending startup Qardy in a $23M SPAC merger, marking the country’s first SPAC deal. This move boosts access to funding for MSMEs and signals Egypt’s growing role as a hub for innovative financial transactions in MENA.