
AfricaWorks Insights
June 4, 2025 at 02:28 PM
dLocal is set to acquire AZA Finance 💸, a leading African cross-border payments startup, in a deal reportedly worth $150M, expanding its footprint into 17 African markets 🌍. The acquisition, pending regulatory approval, gives dLocal access to untapped regions like Botswana and Guinea while AZA gains dLocal’s global merchant network. Founded as a Bitcoin remittance firm, AZA evolved into a full-service FX platform handling over $2B in transactions.
CIB 🇪🇬 has partnered with Lantern Ventures 🚀 to boost SME growth through tailored financial and non-financial solutions, aligning with its strategy for impactful investments. Lantern offers SMEs services like legal, HR, IT, and business development to enhance efficiency and reduce risks ⚙️. The venture studio also supports Shark Tank Egypt entrepreneurs, helping them scale and compete effectively 📈.
After selling Expensya for over $120M 💰, co-founders Karim Jouini and Jihed Othmani swore off startups—until generative AI pulled them back in 🤖. They've launched Thunder Code ⚡, an AI-powered software testing platform that's already raised $9M and is gaining traction across the U.S., Canada, France, and Tunisia. Focused on speed, lean teams, and smart execution, they believe Thunder Code is unicorn material 🦄
Nigeria 🇳🇬 has renewed its partnership with UNICEF 🤝 to equip 20 million youth with digital skills by 2030 via the GenU 9JA platform, aiming to reduce unemployment and boost innovation 🚀. Vice President Kashim Shettima, now Chair of GenU 9JA, called the initiative vital to national growth and digital transformation. This aligns with the government's Renewed Hope Agenda to empower youth and drive inclusive development 💡.
