This Week in African Tech 🌍

Hey hey, Darius here 👋🏼, good morning.

Last week, Chowdeck showed us its ambition is far beyond jollof rice as it merged its platform with the POS startup Mira and launched a new Bills payment feature. 

M-PESA processed a staggering $136 billion in six months, Cassava is launching Africa's first GPU-as-a-Service to power our AI future, and Equinix is plugging a new $22M high-performance data center right here in Lagos.

It's a week of hard truths, hard infrastructure, and massive numbers.

But before we unpack the details…

Tech Roundup

• M-PESA drove Safaricom’s half-year growth with 21.9 billion transactions totaling KSh. 20.2 trillion (~$136 billion) and a user base of 37.9 million. Merchants and micro-merchants are flocking to Lipa Na M-PESA, while 9.5 million customers tapped KSh. 777.5 billion ($5.25 billion) in loans.

• Nigeria’s telecom market hit a record ₦7.67 trillion ($5.1 billion) in 2024, up 44.7% from last year. MTN and Airtel commanded the stage, controlling 85% of subscribers and generating ₦6.6 trillion ($4.4 billion) between them. Growth was fueled by 4G/5G expansion, rising mobile data demand, and a surge in fintech, e-commerce, and digital services.

• Roam, the Nairobi e-mobility startup behind the Roam Air electric motorcycle, is opening part of its pre-Series B to retail investors on Crowdcube. For as little as £10, everyday backers can buy a slice of the company as it looks to scale production and expand its charging network. It’s a rare move in Kenya’s startup scene, where equity crowdfunding is still uncommon. Roam is betting its growing rider community, and the region’s high fuel costs, will help power the raise.

• Truecaller is running into trouble in South Africa, where regulators are probing whether the app violates the country’s privacy law, POPIA. Complaints range from using non-users’ contact details without notifying them to allegedly charging businesses to shed their spam labels, claims Truecaller denies.

• Nigeria is one step closer to formal EV rules after its Senate advanced a bill that leans heavy on local manufacturing, and even heavier on penalties. The proposal requires foreign automakers to build assembly plants and hit 30% local content by 2030, with a ₦500 million ($346,000) fine per shipment for anyone importing EVs without a licence. Supporters call it long-overdue industrial policy; critics say the timelines (and the fee) are a bit electric-shock-y.

• Equinix is planting a new $22 million high-performance data center in Lagos, the first piece of a larger $100 million plan to supercharge Africa’s digital backbone. The LG3 site, set to open in early 2026, will plug Nigerian businesses directly into Equinix’s global network and cloud ecosystem.

• Cassava Technologies is turning Africa into an AI powerhouse. As the first preferred NVIDIA Cloud Partner on the continent, it’s launching GPU-as-a-Service across five countries, giving local enterprises and governments high-performance compute without leaving home.

• Chowdeck is no longer just delivering food; it’s delivering bills too. Its new Bills feature lets users top up airtime and data, marking the platform’s first consumer-facing fintech move. Combine that with the full migration of POS startup Mira, and Chowdeck is tying together both sides of its marketplace, moving closer to a full-fledged super app.

• MoMo, MTN’s mobile money platform now supports cross-border payments and micro-investing, letting users send money beyond Uganda or start investing with just UGX 500 ($0.14). With its Open API also welcoming fintech integrations, MoMo is positioning itself as a financial playground for the digital age.

• Cell C is going public. The South African telecom plans a JSE listing with a valuation between R9.5 billion–R12.1 billion ($513 million–$653 million), selling up to 53.8% of its shares. By comparison, Telkom sits at R25.3 billion ($1.37 billion), while Vodacom and MTN are in the R290 billion+ (~$15.66 billion) league. A R2.4 billion ($129.6 million) BEE allocation ensures 30% black ownership at admission.

• Jumia is tightening its belt, and letting AI do the heavy lifting. Q3 revenue rose 25% to $45.6 million, operating losses fell 13%, and the company trimmed 7% of its workforce. Orders are up 34% and GMV climbed 26%, showing that smarter operations and AI-driven automation can coexist with growth.

• Rank, formerly Moni, is digitising Africa’s century-old community finance systems. The Lagos-based fintech acquired AjoMoney and Zazzau Microfinance Bank to combine trusted savings circles with licensed banking. Its first product, a high-yield group savings plan, paid out ₦16 billion (~$11 million) to 10,000 users, blending treasury-backed returns with human wealth advisors.

• Ezra Olubi, Paystack’s co-founder and CTO, has been suspended pending an investigation into sexual misconduct claims. The suspension comes as old tweets resurfaced, some referencing minors and colleagues, fueling public scrutiny. Paystack insists the probe will be independent and confidential, with the tech ecosystem watching closely.

Deal Roundup

• SolarSaver raised $60 million to scale solar power for small businesses in South Africa, Namibia, Botswana, and Zambia. The company’s off-grid solar setups have already hit 140 MW across 700 sites. Investors say the capital will boost energy security and cut fossil fuel reliance in a region that needs it most.

• South Africa-born maxwell+spark secured $15 million Series B to scale its battery-powered industrial fleet solutions, from warehouse forklifts to refrigerated trucks. The company, already operating in the US and EU, aims to decarbonise one of the world’s most energy-hungry sectors, while investors like Klima and Chevron cheer it on.

• Rank, formerly Moni, acquired AjoMoney and Zazzau Microfinance Bank to combine trusted savings circles with licensed banking. Its first product, a high-yield group savings plan, paid out ₦16 billion (~$11 million) to 10,000 users, blending treasury-backed returns with human wealth advisors.

Post of the Week

And that's a wrap!

That’s it for this week. See you on Wednesday 😃 

Cheers,

The Tech Safari Team

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