This Week in African Tech 🌍

Hey hey, Sheriff here 👋🏼, good morning.

Last week, we saw more deals occur compared to the previous week. What’s interesting is that these aren’t just from companies getting funded, but even VC funds themselves.

But before we unpack the details…

Now… into the roundup!

Tech Roundup

• Apple, the US tech giant, is being sued by a US-based group over its use of conflict minerals from the Democratic Republic of Congo (DRC). The lawsuit claims Apple's supply chain practices contribute to human rights abuses in the region. Apple claims it instructed its suppliers to stop sourcing minerals from the Congo, DRC and Rwanda.
  

• AidaPay, a Nigerian fintech, launched ScanPay, an AI‑driven tool that lets customers scan bank details with their phone camera to pre‑fill account numbers and verify recipients. This cuts transfer times from around 30–45 seconds to about 5 seconds and reduces wrong‑recipient errors.

  
  

  

  Here’s how it works: you take a photo, it uses AI to extract the account number and bank, and you type in an amount.

• Visa, the global payment giant, has teamed up with Aquanow, a crypto firm, to extend stablecoin settlement across Central and Eastern Europe, the Middle East and Africa. Issuers and acquirers on Visa’s network can now settle obligations using USD Coin (USDC), reducing reliance on banks and speeding up settlements.

• South African fintech Lesaka has gotten approval to buy digital lender, Bank Zero, for R1.1 billion (≈US$61 million). The deal gives Lesaka a banking licence, tech infrastructure and around R400 million in customer deposits, helping it build a full-stack financial services platform.

• Vodacom Tanzania has rolled out a suite of international payment services that allow its 22 million M‑Pesa users to pay merchants in China, Dubai, Uganda and anywhere Visa is accepted.

• In an interview, MTN Group CEO Ralph Mupita said the telecom giant intends to focus expansion on East and Southern African markets over the next 3–5 years to reduce reliance on Nigeria and South Africa. He hinted at potential interest in Kenya and predicted that further consolidation in South Africa’s telecom sector is inevitable.

• The G20 leaders have launched a new "AI for Africa" initiative during their summit in South Africa. This voluntary platform will expand access to artificial intelligence training, datasets, and infrastructure for African nations.

• Axian Group, a major pan-African conglomerate, has rebranded its fintech arm to "Axian Digibank & Fintech" to mark its strategic shift into full-scale digital banking. Previously focused on mobile money services like MVola, the group is now pivoting to offer comprehensive banking products such as savings, credit, and insurance.

• Paystack, one of Nigeria’s biggest fintechs, has fired its co-founder and former CTO, Ezra Olubi. The company announced the termination on November 23rd, citing "significant negative reputational damage" as the reason for the decision. Ezra has said that the company fired him unfairly, and he will be taking legal action.

Deal Roundup

• Ugandan logistics startup Ridelink raised $1.1 million in pre‑seed funding from Morgan Stanley Inclusive & Sustainable Ventures and a few others. Ridelink’s AI‑driven marketplace already serves over 6,000 SMEs, 275 enterprises, and 25,000 vetted transporters, and this new funding round will be used to deepen automation, expand trade corridors, and launch new products.

• Chui Ventures has closed its inaugural venture fund at $17.3 million, surpassing its US$10 million target. Investors in the fund include the Mastercard Foundation Africa Growth Fund, the Michael & Susan Dell Foundation and more than 30 African HNIs. Chui Ventures is preparing a US$60–100 million Fund II to expand into North Africa and take larger stakes.

Events

• Latitude59 is bringing Africa's Boldest Innovation Conversation to the ASK Dome on December 4th-5th, and it’s time to move past the "startup hype" and start building real momentum. Join us for two days of honest connections with founders and investors, hands-on masterclasses, and a high-stakes pitch competition featuring the top 10 startups from across the continent, all focused on sustainable, revenue-driven growth. Come find your tribe and fuel your future; secure your spot today using code TECHSAFARIxL59 for a 35% discount! 👉 Get your tickets here.

• If you’re serious about scaling in Africa, you need to be in the room where the checks are actually being written. On December 2nd-3rd, AfricArena is bringing the Grand Summit 2025 to the Cape Town International Convention Centre, connecting the continent’s top startups directly with 200+ active investors and 50+ speakers who move the needle in tech. Whether you're raising capital or hunting for partnerships, come join the VCs, corporates, and LPs shaping the future of African tech; secure your spot today! 👉

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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