This Week in African Tech 🌍

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At some point in many African households, the dynamic quietly flips, where the child becomes the one sending money home. 

MTN Group's latest earnings have that same energy. Nigeria and Ghana delivered 58% of the group's pre-tax earnings this quarter, while South Africa, the headquarters and home market, posted its first revenue decline in over a decade. 

West Africa is pulling its weight and covering rent.

Let’s unpack the rest of this week’s news…

Tech Roundup

• M-PESA in Ethiopia is stepping into government revenue collection via a deal with the Amhara region. Over 450,000 taxpayers can now pay taxes directly through the platform, replacing paper-heavy processes. For M-PESA, it’s another sign that once you own payments, everything else starts to plug in.

• Kenya’s draft crypto rules may require stablecoin issuers to hold at least $3.85 million in capital, alongside strict reserve and disclosure requirements. The framework is designed to bring order to a fast-growing market, but could price out smaller players. If it passes, expect fewer stablecoins, but much bigger ones.

• MTN Group is seeing West Africa, especially Nigeria and Ghana, drive the bulk of its profits, contributing 58% of pre-tax earnings. Meanwhile, South Africa posted its first revenue decline in over a decade. Their new playbook is to double down on high-growth markets where data demand (and margins) are surging.

• IFC is partnering with Cashi to expand digital payments infrastructure in Chad and other underserved markets. The platform uses SMS, POS, and mobile tools to work where internet access is patchy and banking penetration is low. In a country where only ~10–15% have accounts, even basic rails are a big unlock.

• Legend Internet Plc plans to merge with Spectranet, combining two longtime rivals under one roof. With rising infrastructure costs and pressure from telcos and Starlink, scale is becoming survival. In Nigeria’s broadband market, staying small is starting to look expensive.

• Kenya’s tax authority wants to scrap its KSh 5 million ($ 38,461.55) VAT threshold, effectively pulling small businesses into the VAT net. The move could more than double collections to over KSh 1 trillion ($7,692,310,000) while forcing all businesses to file monthly returns. For many small traders, compliance just got a lot more real

•  Global mobile money transactions crossed $2 trillion in 2025, doubling in just four years, with Africa driving most of the growth. The continent also accounts for the bulk of new accounts, cementing its position as the industry’s engine.

• Quidax has cut jobs across sales, design, and operations as it shifts focus toward enterprise crypto infrastructure and payments. The startup says the layoffs are performance-related, but it’s still hiring for B2B roles.

• Most mapping tools assign coordinates, but Bwendi assigns meaning. The startup is building an addressing layer that maps locations to economic hubs, landmarks, and real-world context, thereby turning GPS points into something humans (and AI) can actually understand. The pitch is ambitious as they plan to make every square meter “legible” to the global economy.
  

Deal Roundup

• Moniepoint has acquired Orda, folding it into its business OS as “Moniebook for Restaurants.” They’re betting that if you own how restaurants run sales and inventory, you can own their payments too. With ₦8 billion ($5.83 million) in daily restaurant transactions already flowing through its rails, Moniepoint is turning POS into infrastructure, and infrastructure into lock-in.

• In more news about Moniepoint, it has also completed its acquisition of a 78% stake in Sumac Microfinance Bank, securing the deposit-taking licence it needs to scale lending in Kenya. The acquisition lets it bypass a licensing freeze and compete with players like Safaricom and Equity. It’s a clear shift from payments to full banking, and cross-border at that.

• Yassir , the Algerian super app, acquired adtech firm Kawarizmi to build a retail media network across its over 8 million users and 60+ cities. Already in mobility, delivery, and fintech, Yassir is now layering advertising on top of it all.

• Skynamo has been acquired by UK software firm Klipboard in a bid to bulk up the sales tech stack. The South African startup powers mobile-first sales ops for ~1,000 businesses, processing over $70 million in monthly orders. It’ll keep its brand while plugging deeper into ERP systems and global markets.

• GoSwap, the Moroccan electric mobility startup, has raised its first seed funding round from Azur Innovation Fund to scale its battery-swapping network. With 20 stations already live, it’s expanding to new cities and bike models.

• Flowcart and Bumpa secured undisclosed amounts from Jobtech Alliance to fix African commerce without rebuilding it. Both startups focus on tooling, Bumpa with POS and business management, and Flowcart with WhatsApp-based AI commerce.

• Happy Pay raised $5 million to make “buy now, pay later” feel a lot more like “buy now, don’t pay fees.” The South African startup ditches interest entirely, instead charging merchants for conversions driven by its AI-powered ads and checkout flow. With 600,000 users, it’s blending fintech and adtech into a closed loop where payments double as marketing. BNPL, but the bill goes to advertisers.

• Littlefish raised $9.5 million to help banks act a lot more like fintechs. The startup plugs payments, POS, CRM, and APIs into one merchant stack used by banks like Standard Bank and Absa, with revenue up 30x since its seed. It’s positioning itself as the layer between banks and SMEs.

Post of the Week

Events

• Africa Venture Capital Forum 2026 is happening in London. Bringing together investors, founders, and policymakers to decode Africa’s next tech decade. Panels will cover everything from the next $100 million startups to IPO paths, regulation, and capital flows. Expect African-inspired cuisine, sharp insights, and plenty of networking. If you like your VC served with a side of jollof, this is it. More details here.

• Dar es Salaam is calling fintech fans: the 4th Microfinance Technology Summit is set to explore how tech can unlock financial inclusion. Over 500 participants, 50 exhibitors, and 30 hours of talks will tackle mobile money, digital finance, and innovation in microfinance. Secure your seats here.

• Africa’s tech moment goes global at GITEX Africa 2026. From AI and cloud to future mobility, startups and global exhibitors will converge to pitch, network, and showcase innovations driving a $2.9 trillion digital economy by 2030. Think big tech meets Africa’s next unicorns. Register to attend.

Opportunities

• The Lagos Innovates Female Founders & Funders III programme is now accepting applications from women building startups in Lagos. The six-week hybrid programme offers mentorship, investor readiness training, and access to VCs, plus over ₦9 million (~$6,500) in prizes. Applications close April 4.
  

•  The 2026 Swedish Institute Impact Pioneers MENA Program is scouting climate-focused entrepreneurship leaders from Algeria, Egypt, and Tunisia. Over 12 weeks, participants tackle real-world climate challenges, exchange ideas with peers, and get hands-on coaching from top Swedish innovators.  Applications are fully funded, and the deadline has been extended to April 12. Get more information here.

And that's a wrap!

That’s it for this week. See you on Wednesday 😃 for something extra special!

Cheers,

The Tech Safari Team

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