This Week in African Tech 🌍

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A factory error in China recently turned a smiling plush horse into a "frowning foal" after the mouth was stitched on upside down, and it’s already a viral icon for corporate burnout.

But while that horse is wallowing in its mis-stitching, MTN is looking to turn its own frown around.

After years of selling off its towers to stay "asset-light," Africa’s largest telco is in advanced talks to buy back the 75% of IHS Towers it doesn't already own for about $2.76 billion.

Let’s unpack the details…

Tech Roundup

• CinetPay, a major West African payment processor, is months late on settling over $1 million owed to customers after what it calls a sweeping cyber fraud incident across Côte d’Ivoire, Togo, and Burkina Faso. The breach hit just weeks after the fintech secured a coveted BCEAO license, a stamp meant to guarantee strong anti-fraud controls.

  

  CinetPay is a payment processor focused on Francophone Africa.

  
  

• Safaricom Ethiopia is on a tear, ending the quarter with 12.2 million active customers and an M-PESA base that more than tripled to 5.2 million users. The EthSwitch integration in October unlocked wallet-to-bank transfers and QR payments, sending transactions soaring nearly 200%. Service revenue climbed 54% year over year, with data still king and voice suddenly surging.
  

• Uber is pulling out of Tanzania, saying it’ll shut down the app on January 30 after years of sparring with regulators over fare caps and commission limits. The country’s tight pricing rules left little room for the surge-based model Uber leans on. With the exit, riders are left to local and regional players like Little and Bolt, which have adapted more easily to LATRA’s playbook.

  

  Source: Connecting Africa

  
  

• Google Research Africa launched WAXAL, a three-year project compiling 11,000 hours of speech across 21 languages like: think Hausa, Luganda, Yoruba, and more. The dataset was built with universities and labs across the continent and comes with transcriptions, TTS recordings, and an open license.
  

• Luno, Sanlam, EasyEquities, and Lesaka unveiled ZARU, a blockchain-based, fully Rand-backed digital coin aimed at cutting the delays and fees baked into traditional payment rails. Assets sit safely onshore and get third-party audits every month. It’s rolling out to institutions first, with retail access expected to follow.
  

• The CBN released a sector-wide review that recasts fintech not as a disruptor but as a core part of the financial system, and one that now powers 70% of electronic payments. The blueprint pushes modernized licensing, stronger cybersecurity, and a rules-based supervisory model to replace the patchwork approach of recent years. It’s part guardrail, part green light for Africa’s busiest fintech market.
  

• PwC has taken control of Koko Networks after the clean-cooking startup collapsed into administration, putting a business that once served 1.3 million low-income households under insolvency management. With 700 layoffs and over $300 million invested in infrastructure now on the line, PwC’s administrators will decide how much creditors recover, and whether any part of Koko can be saved. 

  

  Koko Networks’ shutdown rocked the climatetech space last week, as the company’s growth was quickly halted by regulation.

  
  

• Onafriq and PAPSS launched Africa’s first instant, Naira-to-cedi wallet transfer corridor (no dollar detour required). The CBN-approved pilot lets individuals and SMEs send money across borders as easily as texting, tapping into a network of 1B mobile wallets and 160+ banks. It’s a small step for payments, but a big swing at making Africa’s borders irrelevant.
  

• TymeBank is now GoTyme Bank, a rebrand that leans into its global group identity after becoming Africa’s first profitable digital bank last year. Alongside the name change comes a fresh app and a staggered customer migration designed to keep things stable and secure. For users, nothing else changes. It’s the same licence, same accounts, just a new banner and a bigger runway.
  

• MTN is eyeing a full takeover of IHS Towers. The telecom giant confirmed it’s in advanced talks to buy the 75% of the tower operator it doesn’t already own, with a potential offer pegged to IHS’s recent NYSE trading price. A deal would mark a sharp strategy pivot, essentially undoing years of tower sell-offs and pulling infrastructure back in-house. Nothing’s final yet, but MTN warned investors the outcome could move its share price.

  

  IHS is a company that builds and operates towers across emerging markets. Source: TechCentral

  
  

• Rwanda and Zipline have signed an agreement to expand autonomous deliveries across the country, backed by $150 million from the US State Department. The plan covers urban Kigali, new long-range hubs, and AI testing facilities, making Rwanda the first country in the world with nationwide drone medical logistics.

Deal Roundup

• Lula raised $21 million from Dutch development bank FMO to expand its tech-driven lending platform, building on $35 million Series B and prior IFC support. The fintech’s platform delivers fast, flexible working capital to businesses often ignored by banks.

  

  Lula’s team. Source: Tech in Africa

  
  

• GoCab, a pan-African mobility and financial services platform, raised $45 million to turbocharge ethical vehicle financing across Africa. The platform helps gig-economy drivers get wheels through structured ownership, blending tech, finance, and mobility. Plans include expanding to new markets, scaling EVs, and rolling out AI-powered fleet tools.

Events

• Africa’s Green Economy Summit is back in Cape Town, 24–27 February 2026. Over four days, investors meet 50+ green projects, from renewable energy and EV transport to sustainable agriculture and blue economy initiatives. Expect roundtables, deal rooms, and curated matchmaking designed to turn pitches into funding, with a focus on climate finance, biodiversity, and scalable impact. Register to attend here.
  

• Africa Tech Summit returns for its eighth year in February 2026. The two-day event will pull in 2,000+ delegates across fintech, AI, and climate tech to debate how Africa finally builds interoperable payment systems. Get your tickets here.
  

• Lagos Tech Fest returns on 17–18 February 2026, now in its 6th year, spotlighting the best of Nigeria’s tech ecosystem. The edition brings together startups, enterprise leaders, investors, and policymakers for two days of pitches, roundtables, and networking. Expect panels, exhibitions, and after-hours events designed to connect capital to opportunity and shape the future of African tech. Secure your tickets here.

Opportunities

• Google for Startups Accelerator Africa is back for 2026. Applications are open until 18 March for a three-month hybrid program helping growth-stage startups tackle technical challenges, scale products, and access Google Cloud credits, AI tools, and dedicated mentoring. Program kicks off in April, with graduation and Demo Day in June. Apply here.
  

• Applications are open for the 2026 WE Empower UN SDG Challenge. The global competition spotlights women social entrepreneurs advancing the UN Sustainable Development Goals. Winners will pitch in New York during Climate Week and the UN General Assembly, with Diane von Furstenberg hosting the final showdown. Apply by March 8.

Post of the Week

@techsafarihq

Distribution is the single biggest constraint for African startups. Funding is the fuel, but access to established pipelines (Banks, Telco... See more

And that's a wrap!

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

Cheers,

The Tech Safari Team

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