This Week in African Tech 🌍

Hey, Maryann here 👋🏽 

It’s been a big week for African tech, from billion-dollar payment flows to street vendors getting smarter ways to get paid. Flutterwave is processing nearly $1 billion from East Asia, Tanzania just built its own core banking system in-house, and Algeria joined the Pan-African payments network.

On the startup side, HoneyCoin raised $4.9 million to take on Africa’s cross-border payment problem, Street Wallet bagged $350,0000 to power street-level commerce, and Ampersand secured fresh funding to speed up electric mobility in East Africa.

There’s also plenty happening in policy and infrastructure. But before we get into the details…

Tech Roundup

• African fintech giant Flutterwave processed nearly $1 billion in payments from East Asian companies in the first half of 2025 alone. This boom in transactions demonstrated the rising global demand for African products and services. The company also expanded its services into new countries like Cameroon and Senegal, making digital payments more accessible across the continent.

• The Bank of Tanzania, last week, became the first central bank in Africa to develop its own Integrated Core Banking System (iCBS) in-house, a move that will make the country's financial system more secure and efficient. By building the system locally, Tanzania saved over Sh81 billion that would have been spent on foreign vendors. This achievement gives the nation greater control over its critical financial data and operations.

• Doing business across Africa is getting simpler and cheaper as Algeria becomes the 18th country to join the Pan-African Payment and Settlement System (PAPSS). This system allows companies to trade in their local currencies, which reduces transaction costs by up to 27% and makes it easier for businesses to expand into neighbouring markets.

• Moniepoint has launched Moniebook, a new POS system that does more than process payments. The device helps small businesses track sales, manage inventory, and print receipts in real time, solving a big headache for merchants who usually rely on manual record-keeping. The machine is already being tested by over 4,000 shops, supermarkets, and even toll gates.

• After a three-year regulatory battle, Vodacom has received approval to acquire a major stake in fibre operator Maziv, a deal that could expand high-speed internet access for more South Africans. The acquisition is expected to increase competition in the market. This will likely accelerate the rollout of faster and more reliable fibre internet across the country.

• New guidelines from Tanzania's communications regulator are reshaping how satellite internet can be sold in the country. Global providers like Starlink are now required to sell their services through licensed local companies instead of directly to consumers. The policy is designed to strengthen local telecom operators and ensure the country maintains control over its digital infrastructure.

• The Kenyan government has launched an ambitious project to train 100,000 public sector workers with artificial intelligence skills. As a key part of the country's new National AI Strategy, the initiative aims to modernize government and make public services more efficient for citizens.

• Kenya is cementing its role as a leader in sustainable transport by partnering with the state of California to establish Africa's first Clean Transportation Center of Excellence. Based in Nairobi, the hub will adapt California's expertise to develop zero-emission solutions, like electric vehicles, specifically for African cities. The collaboration aims to create green transport models that can be scaled across the continent.

• In a move that will bring better internet to millions, telecom rivals Airtel and Vodacom signed a strategic deal to share their fibre and tower infrastructure in Mozambique, Tanzania, and the DRC. By sharing costs, the companies can expand connectivity into underserved communities more quickly. This partnership is a significant step toward closing the digital divide in these markets.

Deal Roundup

• In a major deal for South Africa's small business sector, Nedbank acquired fintech firm iKhokha for $93.3 million. The acquisition will equip small and medium-sized enterprises with better digital payment tools. This move underscores a clear trend of major banks investing heavily in technology to serve the SME market more effectively.

• Nairobi-based fintech HoneyCoin has raised $4.9 million seed funding led by Flourish Ventures, with backing from Visa Ventures, TLcom, Stellar, and others. The startup is building stablecoin-powered rails to cut Africa’s $329B cross-border payments costs and delays. HoneyCoin says it’s been profitable for two years and will use the cash to scale into new African, LatAm, and Asian markets. Tech Safari broke down HoneyCoin’s story in detail—read our deep dive in Old Money, New Rails.

• South African fintech startup Street Wallet has raised $350,000 in new funding. The investment will be used to expand its low-cost payment solutions to more street vendors, helping them avoid lost sales and improving their financial security. This directly supports financial inclusion for a vital but often underserved part of the economy.

• East African electric vehicle company Ampersand has completed a funding round to scale its electric motorcycle and battery-swapping operations across the region. The new undisclosed capital will accelerate the push for clean transportation. This expansion will make green transport a more viable and accessible option for thousands of commercial riders.

Post of the Week

Other Events and Opportunities

• Tech Safari and Itana are hosting a webinar to explore how to build infrastructure for the next generation of African founders. On Thursday, August 21, by 11 AM WAT / 1 PM EAT, join Iyin Aboyeji, Nkechi Oguchi and Caleb Maru to explore what Africa’s next wave of founders need. Register here.

• The Itana Digital Residency Launchpad connects bold founders, investors, and operators building for scale in Africa. Get 1:1 advisory sessions, partner matchmaking, thought leadership opportunities, and more in a 3-month high-impact program. Spots are filling fast! Apply by August 25.

• Jobtech Alliance and Bumpa are hosting an in-person meetup on Thursday, August 14, bringing together founders, operators, and digital work enablers to unpack how jobtech is evolving in the age of AI. Expect a fun icebreaker, live use cases from builders in the space, and solid networking with some of Nigeria’s top jobtech founders. Register here to get the location and save your spot.

• Visa has opened applications for the fifth edition of its Africa Fintech Accelerator. The program offers startups access to tools, mentorship, and industry connections to help scale their solutions. Applications are open here until August 15.

• The Africa Money & DeFi Summit returns to Accra on September 24–25, bringing together 500+ fintech and Web3 leaders. Applications are open for its Investment Showcase, where selected African startups will pitch to investors for funding and partnerships.

And that's a wrap!

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

Cheers,

The Tech Safari Team

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