This Week in African Tech 🌍

Happy new month, everyone! 🎉 

After two decades of being the "view-only" wallet Nigerians loved to hate, PayPal has officially partnered with Paga to let users receive funds from PayPal and Venmo directly.

It’s a massive move that turns a 22-year frustration into a frictionless reality for the continent's growing creator economy, and a huge validation for the local operators who stayed the course.

Let’s unpack the details…

Tech Roundup

• KCB has gotten approval from the Competition Authority of Kenya (CAK) to acquire 75% of Riverbank Solutions for about KES 2 billion ($15 million), with strict conditions to keep customer data ring-fenced. The deal still needs sign-off from the Central Bank, but it marks KCB’s broader shift from old-school lending to platform-style digital services.

• PayPal is back in Nigeria, and this time it’s inbound. Through Paga, Nigerians can now receive PayPal and even Venmo payments, settle locally, and bypass the patchwork of crypto and informal FX routes many relied on for years.

• South Africa’s cloud market is heading for nine figures. The sector is projected to grow from ~R49.6 billion ($~3.1 billion) in 2025 to R101.5 billion ($~6.3 billion) by 2029 as companies keep moving off legacy infrastructure, even while tightening cloud spend.

• Cassava Technologies and AXON Networks have launched Africa’s first Operator-as-a-Service platform, layering AI, digital twin tech, and automation on top of Cassava’s 110,000km fibre backbone.

• Kuda has secured a National Microfinance Bank licence from the CBN, allowing it to open customer experience centres across the country instead of being tied to a single location. Kuda says it’s still digital-first, but now with regulatory room to meet customers offline too.

• Moniepoint pumped over ₦1 trillion (~$670 million) into Nigerian small businesses in 2025. The fintech disbursed loans to about 70,000 businesses, with recipients seeing an average 36% jump in transaction value after accessing credit.

• Airtel Africa hit 179 million customers and processed over $210 billion in annualised mobile money transactions in 2025, as data revenue jumped 36.5% and total revenue reached $4.67 billion for the period. Smartphones, cheap data, and mobile wallets are turning telcos into Africa’s default internet and bank

Deal Roundup

• Trove Finance, the Nigerian wealth-tech startup, has acquired UCML Securities (now rebranded Innova Securities), giving Trove its own SEC-licensed broker-dealer after years of relying on partners. This allows Trove to tighten control over trade execution and compliance as it eyes deeper product expansion.

• Enakl, a Moroccan mobility startup has raised $2.3 million and is pivoting from buses to software. The company plans to launch a SaaS platform built from its internal fleet tech, positioning itself as a mobility operating system for transit operators and cities.

• Yakeey, a Moroccan proptech startup raised $15 million in the country’s largest-ever proptech Series A, led by Enza Capital with backing from IFC, Beltone VC, and CDG Invest. The startup is building a managed marketplace that mixes AI pricing with 2,000+ on-ground inspectors to bring trust to a historically opaque market

Events

• 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.

• Baraza Lagos’ Legal & Tech Summit is convening founders, operators, and lawyers to unpack compliance, structure, and what investors actually look for, in partnership with the NBA Lagos Chapter. Consider it a crash course in building companies that survive due diligence. Get tickets to attend here.

• Africa Technology Expo lands in Lagos on June 26–27, 2026. A closed-door-style convening for people actively building across Africa’s tech and innovation economy, with attendance limited to vetted participants, media, and exhibitors. Register to attend here.

Opportunities

• UNDP’s 2026 Timbuktoo EdTech Accelerator is now taking applications, offering 50 startups a remote, mentor-heavy sprint through growth, financing, and learning science. The perks include grants for testing and early product work, plus access to future Timbuktoo hubs. Check here for more details.

• WIPO wants to celebrate smart use of IP. Its 2026 Global Awards will pick 11 standout startups and SMEs, with extra recognition for sports-focused firms, plus top women and youth founders. Winners get six months of tailored mentorship, global visibility, and an all-expenses-paid trip to Geneva for the ceremony. Apply here.

• UNICEF is opening applications for its 2026 StartUp Lab, an accelerator backing early-stage founders tackling challenges for kids and young people. The program plugs startups into UNICEF’s global network for mentorship, technical support, and investment exposure. Deadline’s Feb 20, so start building your applications here.

Post of the Week

@techsafarihq

Why do women-led startups in Africa remain "extremely underfunded" despite the massive opportunity? In our latest webinar with Briter, Dr.... 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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