This Week in African Tech 🌍

Hey, Maryann here 👋🏽 

We’re kicking off June with funding wins, market entries, and policy shifts that could shake up local ecosystems. A Nigerian fintech is expanding into Tanzania, Kenya’s startups might lose key tax breaks, and Sierra Leone is gearing up for its first-ever 5G rollout, powered by clean energy, no less.

Plenty to catch up on this week, but first just a quick heads-up... 

Now, on to this week’s roundup….

Tech Roundup

• Nigerian fintech Fincra has received approval from the Bank of Tanzania to operate as a licensed payment service provider. The licence allows it to offer its financial infrastructure tools to businesses and developers in Tanzania.

• Kenya’s Finance Bill 2025 plans to remove some tax breaks for startups, like delaying tax on employee stock options and investment deduction. If passed, employees would no longer defer taxes on stock options.

• Netflix has raised its subscription fees in Nigeria for the third time since 2024, with the Premium plan now about $11 per month. Netflix says the price increase supports content growth and platform upgrades.

• Sierra Leone will soon launch its first 5G network, powered by renewable energy. The project is a partnership between local telecom Zoodlabs and African energy firm CrossBoundary Energy.

• Kenyan e-commerce startup Twiga Foods is pausing its Nairobi operations for two months to complete a business overhaul. The break will let the company move its distribution hub from Tatu City in Kiambu County to a location closer to Nairobi. 

Deal Roundup

• AXIAN Telecom has acquired an 8% stake in Jumia. The move comes as Jumia shifts from aggressive growth to cutting costs, with reduced marketing spend and a stronger focus on customer retention.

• South African recycling startup Regenize has secured undisclosed amount of funding from E Squared Investments. The funds will go toward growing Regenize’s network of recycling hubs, offering free services to over 26,000 households and creating 180+ jobs.

• Uruguayan fintech dLocal plans to acquire AZA Finance in a deal worth around $150 million. The move aims to deepen dLocal’s presence in Africa and is still subject to regulatory approval.

• Nigerian clean energy startup Salpha Energy has raised $1.3 million from All On. The funding will help Salpha scale operations, grow its solar product line, and boost its local assembly capacity.

Other Events and Opportunities

• African startups can now apply for the global AgriBlue.AI accelerator by Bright Tide. The programme connects farmers with AI innovators to transform agriculture and aquaculture, aiming to build a more resilient and regenerative food system. Apply here by June 15.

• Faith Foundry is hosting its second Christian Tech Meetup on June 20, bringing together tech pros, faith-driven entrepreneurs, and church leaders. The event aims to tackle real challenges and grow the Jesus Tech movement. Register here.

• The Africa Technology Expo is set for June 21, 2025, at the Landmark Event Center in Lagos, Nigeria. The event brings together tech and innovation professionals aged 18 and above. Get your tickets here.

  And that's a wrap!

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

Cheers,

The Tech Safari Team

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