This Week in African Tech 🌍

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Tech Roundup

• Nigerian delivery startup Gokada has filed for Chapter 11 bankruptcy protection in the US after running out of money to cover its debt (~$1.8 million). This filing will allow it to devise a plan to repay its creditors over time.

• Kenyan regulators are seeking the public’s input on a crypto bill that’s in the works. The bill will determine whether banks should be allowed to engage with cryptocurrencies and if crypto exchanges like Binance should be approved. About 4 million Kenyans hold crypto assets, so it’s an important bill.

• Nigerian telco 9mobile plans to raise $3 billion over the next four years to make a market comeback. Once a big player with 13 million subscribers, it now has 3.4 million users and holds only a 2.15% market share.

• South Africa recently passed new laws offering tax breaks to electric and hydrogen-powered vehicles. It goes as high as a 150% deduction and the biggest winners from this are likely to be Chinese EV makers, three of whom are already in talks to launch locally.

• Uganda has just launched digital license plates to track criminal vehicles locally. The project was started in 2021 but suffered delays due to protests by motorcycle riders, but the government has now given a 30-day grace period for everyone to switch to digital plates.

• The Nigerian government announced the launch of its National Credit Guarantee Company (NCGC) to help boost credit access for people and businesses in the country. The company will act as a risk-sharing partner, making it less risky for banks to offer loans.

Deal Roundup

• Nigerian health tech MyChekker has raised an undisclosed amount in angel funding from the Lagos Angel Network. The startup helps laboratories deliver test results to patients in 24 to 72 hours, and this funding will be used to improve the user experience and close more labs.

• Moroccan fintech Talaty has raised an undisclosed funding round from Renew Capital and Witamax Invest. The funds will be used to develop AI products that help small and medium-sized businesses easily raise working capital.

• Data from Africa: The Big Deal showed that African startups raised $2.2 billion in 2024, down from $2.9 billion in 2023. Half of all funds raised also went to 10 companies — names like Moniepoint, Moove, Tyme, and M-Kopa.

• Egyptian Agri-tech startup ReNile has closed a $450,000 round of funding to help it expand to Saudi Arabia. The startup has a range of products designed to monitor soil, water, and air quality to boost farm productivity.

• Egyptian VC firm EdVentures made six-figure dollar investments in two Egyptian ed-techs — the first is in Schoolz, a platform for safe student transport, and the second deal is in Ibn Sina, an academy training students in coding, marketing and medical skills.

Other Events and Opportunities

• CloudPlexo & AWS are hosting an exclusive dinner for VCs, founders, and tech enablers in Nairobi. It’ll be a night of meaningful talks and connections, and spark collaboration and opportunities for growth in Africa’s tech scene. Sign up here to attend.

• Applications for the 4th Visa Fintech Accelerator are now open. It gives fintechs access to tools, network, and mentorship to scale their products, and four startups that got in last year went on to raise funding from Visa. Apply here by March 15th.

  

• The Khulisani Ventures Fund has opened up applications to its $16.5 million fund. Started by South Africa’s Mineworkers Investment Company (MIC), it’s looking to fund startups that are scalable, innovative, and well-run. Apply here before January ends.

• Stanford Seed is collaborating with the African Management Institute to run the Aspire Business Growth Programme for founders and CEOs of small, fast-growing companies in Africa. Founders get access to expert lectures from Stanford faculty and practical growth tools. Applications are open here.

• On Janaury 24th, Cloudplexo is hosting an engaging session about cloud costs and financial management for African businesses. It promises actionable insights and strong strategies for keeping costs down. Apply here to attend.

And that's a wrap!

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