Author: Tapiwa Matthew Mutisi

Lipa Later, a prominent Kenyan buy-now-pay-later (BNPL) fintech company, has officially entered administration as of March 24, 2025, following a protracted period of financial difficulties and unsuccessful attempts to secure additional funding. Joy Vipinchandra Bhatt from Moore JVB Consulting LLP has been appointed as the administrator to oversee the company’s…

AvtoVAZ, the largest automaker in Russia and predominantly owned by the Russian government, is embarking on an ambitious expansion into Nigeria as part of a strategic initiative to diversify its operations beyond its traditional market. This move is particularly significant as it marks AvtoVAZ’s most substantial entry into West Africa’s…

Senegal’s dynamic financial technology (fintech) sector is on the verge of welcoming a new player, Quickpay, a subsidiary of the influential EDK Group, owned by businessman Demba Ka. Quickpay has recently obtained an Electronic Money Institution (EMI) license from the Central Bank of West African States (BCEAO), positioning it to…

Moniepoint, a prominent Nigerian fintech unicorn, is poised to introduce a new remittance product called “MonieWorld,” designed to facilitate money transfers from the United Kingdom to Nigeria. Currently in its beta testing phase, MonieWorld is expected to launch publicly soon, as confirmed by sources familiar with the development. This initiative…

First National Bank (FNB) has officially been appointed as the principal sponsorship partner of the Springboks, taking over from MTN South Africa, which held the main sponsorship role for the past eight years. This transition marks a significant shift in the sponsorship landscape of South African rugby. FNB has been…

Abidjan-based KeysFinance Partners has made a significant move in the technology sector by acquiring a 100% stake in Label, a company specializing in the integration of Sage solutions within Côte d’Ivoire. This acquisition was executed through its investment vehicle, Nouvelle Société Impact (NSI). Following the acquisition, Label will be merged…

MTN Group and Airtel Africa have announced a strategic partnership to share mobile phone network infrastructure in Uganda and Nigeria, as revealed in a joint statement on Wednesday. This collaboration aims to optimize investment expenditures while simultaneously enhancing service coverage across these key markets. As mobile operators in Africa experience…

NjiaPay, a pioneering payment service provider (PSP) based in South Africa, is revolutionizing the payment landscape for businesses across the region. Recently, Renew Capital has made a strategic investment in NjiaPay, recognizing its potential to streamline payment processes for merchants. NjiaPay stands out by offering a single integration solution, which…

Payhippo, a Nigerian fintech company that previously specialized in providing loans to small and medium-sized enterprises (SMEs), has undergone a significant rebranding and is now known as Rivy. The company has successfully raised $4 million in a pre-Series A funding round, which will enable it to pivot its focus towards…

Samsung has officially announced the expansion of its language support to include Kiswahili and Amharic, a significant step that underscores the company’s commitment to inclusivity and accessibility for users throughout Africa. Kiswahili, which is widely spoken across East Africa, and Amharic, the official language of Ethiopia, rank among the most…

Telkom is making a significant move into the Mobile Virtual Network Operator (MVNO) sector by partnering with a leading Mobile Virtual Network Enabler (MVNE) platform provider. This collaboration goes beyond mere business interests; it also aligns with South Africa’s telecommunications regulations and paves the way for the emergence of more…

The Orange Corners Innovation Fund (OCIF) GROW programme is currently providing an exciting opportunity for young innovators in South Africa, offering funding ranging from ZAR 200,000 (approximately US$11,000) to ZAR 1 million (around US$55,000) to assist in scaling their businesses. OCIF GROW is specifically targeting ambitious entrepreneurs aged between 18…

Applications for the second phase of the Spark Accelerator programme will soon be open. This initiative, a collaboration between Safaricom, M-Pesa Africa, and Sumitomo Corporation, aims to foster the growth and scaling of commercially viable businesses that are making a positive impact on society. The Spark Venture Fund was initially…

For years, Zimbabwe, a nation of approximately 16 million people, has struggled with chronic power shortages, leaving it largely on the sidelines of Africa’s burgeoning tech startup ecosystem. While innovation hubs have thrived across the continent, Zimbabwe has faced a unique combination of economic and political challenges that have often…

Chinese electric vehicle (EV) manufacturer BYD has reported impressive annual revenue figures for 2024, surpassing its main competitor, Tesla. The Shenzhen-based company announced that its revenue surged by 29%, reaching an impressive 777 billion yuan (approximately $107 billion or £83 billion). This growth was significantly driven by the robust sales…

Trade Shield, a South Africa-based enterprise specializing in credit risk management solutions, has successfully secured ZAR 15 million (approximately $825,000) in funding from the Vumela Enterprise Development Fund, which is managed by Edge Growth. This financial backing is aimed at facilitating the company’s growth opportunities both within South Africa and…

South African startup Jem HR, a pioneering WhatsApp-based platform for human resources and employee benefits, has successfully secured ZAR60 million (approximately US$3.3 million) in a pre-Series A funding round aimed at accelerating its growth and enhancing product development. Originally founded in 2019 under the name SmartWage, the company underwent a…

Mukuru, a prominent next-generation financial services platform in Southern Africa, has undergone a remarkable transformation since its inception in 2004, when it initially focused on selling international airtime. Today, the company plays a pivotal role in the region’s financial landscape, facilitating annual payment flows between $3.5 billion and $4 billion.…

Egyptian startups are now invited to participate in the MINT Fintech Hackathon, an exciting opportunity for entrepreneurs to collaborate, compete, and innovate in the rapidly evolving field of financial technology. This initiative aims to foster creativity and drive the development of groundbreaking fintech solutions that can transform the industry. The…

Paystack, the Nigerian fintech company owned by Stripe, has officially launched Zap, a new application designed to facilitate rapid and secure bank transfers in just 30 seconds. This significant development marks Paystack’s entry into the consumer app market after spending nine years primarily focused on merchant-oriented solutions. At a highly…