Author: Staff Writer

Y Combinator-backed fintech startup Moni has officially rebranded as Rank, marking a bold new chapter in its evolution from a community lending platform into a regulated digital financial institution. The transformation follows its acquisition of AjoMoney, a group savings platform, and Zazzau Microfinance Bank (MFB), giving Rank the infrastructure and…

Rack Centre, West Africa’s premier Tier III carrier and cloud-neutral data centre, has announced the launch of EdgeNext’s Content Delivery Network (CDN) and cloud hosting services in Nigeria. The deployment, hosted at Rack Centre’s advanced Lagos facility, marks a pivotal step in strengthening Africa’s internet infrastructure and expanding the region’s…

Equinix, one of the world’s leading digital infrastructure company, has announced plans to build a new $22 million data center in Lagos, Nigeria — its first newly constructed facility in West Africa. The new site, named LG3, represents the first phase of a broader $100 million Africa investment plan aimed…

Morocco- and Uganda-based venture capital firm First Circle Capital has received a fresh US$6 million injection from the International Finance Corporation (IFC), part of the World Bank Group, to deepen its backing of early-stage fintech startups across Africa. The capital will fuel First Circle’s strategy of investing in high-growth pre-seed…

Ventures Platform is doubling down on Africa’s tech future with fresh firepower. The Lagos-based early-stage investor has announced the first close of its new VP Pan-African Fund II (PAF II), securing $64 million towards a targeted final size of $75 million. The fund is designed to go beyond traditional seed…

AXIAN Telecom’s fibre subsidiary, Yas, has moved to deepen its footprint in East Africa’s broadband market with the acquisition of almost all of Wananchi Group, one of the region’s most established fixed internet and enterprise connectivity players. AXIAN Telecom Fibre Ltd, which trades as Yas, has completed the purchase of…

M‑KOPA’s Nigerian arm announced that it has reached the milestone of 1 million customers, marking the fastest growth of any country in the company’s footprint. According to a statement released by the company, the achievement was supported by its full-time workforce expanding from approximately 60 employees in 2020 to more…

Paris- and Tunis-based agritech company nextProtein has raised €18 million ($20.7 million) in a Series B funding round aimed at scaling its insect-based protein operations. The round was co-led by Swen Capital’s Blue Ocean Fund and British International Investment (BII), the UK’s development finance institution, and includes €4 million in…

Mukuru, one of Africa’s leading next-generation financial services platforms, has teamed up with JUMO, an AI-driven banking technology provider, to launch Fast Loan — a new mobile-first credit solution designed to provide fair, transparent, and responsible lending for millions of underserved customers in South Africa. According to TransUnion, nearly 16.8…

FroggyTalk, a fast-rising communication platform built for Africans in the diaspora, has raised €300,000 in seed funding, marking a significant milestone in its young but ambitious journey. The round was led by the SI3 Fund of Shaping Impact Group, a Belgium-based impact-focused investment firm, and will help FroggyTalk scale its…

OpenAI has entered a landmark $38 billion, multi-year partnership with Amazon Web Services (AWS) to power the next wave of artificial intelligence, marking one of the largest cloud infrastructure deals in tech history. The agreement will see OpenAI rely on AWS’s global network of data centers and Amazon EC2 UltraServers,…

Nigerian food delivery platform Chowdeck has crossed one million customer orders in a single month, cementing its position as one of West Africa’s fastest-growing digital delivery services. The milestone, achieved in October, marks a new growth phase for the YC-backed startup, which has rapidly expanded across major Nigerian cities and…

KCB Bank Group has acquired a minority stake in Pesapal, a leading payment service provider in East Africa, marking the bank’s second major fintech investment in 2025. The transaction follows KCB’s $15.4 million acquisition of a 75% stake in Riverbank Solutions in March 2025. Pesapal provides a range of digital…

For traders seeking to stay one step ahead of market volatility, timing is everything. Prices rise and fall not only because of global events or investor sentiment but also due to one predictable factor: corporate earnings. When companies report their quarterly results, they provide a snapshot of their financial health,…

Flutterwave has announced a collaboration with Polygon Labs aimed at enabling instant, low-cost cross-border payments for businesses and consumers moving money in and out of Africa. The partnership, which relies on blockchain infrastructure and stablecoins, is part of Flutterwave’s broader effort to position itself not just as a payments company,…

Egypt’s Karm, the renewable energy company widely known as KarmSolar, has officially stepped beyond its home market. Through a new subsidiary called KarmCyprus, the company has entered the Cypriot energy market — a strategic first move in its ambition to become a regional clean energy player across the Mediterranean. KarmCyprus…

Kenya’s industrial landscape has long been dominated by images of cement kilns, textile mills, and steelworks. But in Kiambu County, a different kind of factory has just opened its doors—one powered by the sun and built for Africa’s renewable energy future. Fresh from raising $156 million worth of financing, Sun…

Morocco’s real estate industry is entering a new digital era as Yakeey, a fast-rising proptech startup, prepares to receive up to $7 million in Series A funding from the International Finance Corporation (IFC), the private-sector arm of the World Bank Group. The investment aims to accelerate Yakeey’s product development, strengthen…

Pan-African technology conglomerate Cassava Technologies has added NVIDIA to its growing roster of blue-chip backers—an endorsement that underscores Cassava’s evolution from core digital infrastructure provider to an essential platform for Africa’s artificial intelligence economy. Although the investment amount was not disclosed, the move deepens a partnership that began last year…

Nigerian digital lender Lidya has ceased operations, citing severe financial distress, according to an email sent to customers. “Despite best efforts to restructure and sustain operations, the Company has encountered severe financial distress and is no longer able to continue in business. As a result, the Company has ceased all…