This Week in African Tech 🌍

Hey, Maryann here 👋🏽 

Another week, another shuffle in African tech. M-PESA’s dominance keeps slipping as Airtel Money gains ground. Flutterwave trims its team to tighten operations ahead of a possible IPO, while Okra is shutting down with grace. Swypex dropped a smart petty cash card, and Knife Capital is celebrating 15 years by cutting cheques.

On the deal side, Liquify raised fresh funding in Ghana, Algeria’s Talenteo is eyeing Francophone markets, and Chowdeck is expanding beyond delivery with a new acquisition. A lot to catch up on this week.

But before we dive in…

Tech Roundup

• South African VC firm Knife Capital is marking 15 years in the game with new Series A investments in fintech startup Sticitt and healthtech company Optique.

• Safaricom’s M-PESA has lost market share for six straight quarters, dropping from 97% in Q4 2023 to 90.8% in Q1 2025. Airtel Money has climbed to 9.1%, up from just 2.9% two years ago, helped by fee refunds, lower costs, and supermarket partnerships.

• Nigerian fintech Flutterwave has cut 50% of its staff in Kenya and South Africa as it works to trim costs ahead of a potential public listing. The layoffs hit multiple departments, with the biggest impact in compliance, legal, and HR.

• Egyptian fintech Swypex has launched a new spend control card through its Premium subscription. It offers dynamic limits that unlock only after approval, giving finance teams real-time control. Think of it as petty cash, but smarter.

• Nigerian fintech Okra has shut down following the exit of CEO Fara Ashiru. The startup still had three years of runway, which it will now return to investors. Staff received severance packages based on their time at the company.

Deal Roundup

• Algerian HR-tech startup Talenteo has raised an undisclosed six-figure round from 216 Capital. The funding will support its expansion into Tunisia, boost AI development, and scale across Francophone Africa.

• Ghanaian invoice financing startup Liquify has raised an oversubscribed $1.5 million seed round led by Future Africa. The funding will go towards team expansion, platform growth, and entry into new Anglophone and Francophone markets. 

Other Events and Opportunities

• CloudPlexo & AWS, is co-hosting an exclusive mixer for startup founders, investors, VCs, and ecosystem enablers on Tuesday, July 8. This intimate gathering is designed to spark meaningful connections and new collaborations across South Africa’s innovation landscape. RSVP Here.

• Join CloudPlexo and AWS for a half-day AI Summit in Johannesburg on Thursday, July 10. Hear from leading experts and startups building with AI, explore practical enterprise use cases, and uncover how AI is driving business transformation and innovation across Africa. Register here.

• Visa has opened applications for its She’s Next programme to women-led businesses in South Africa. The initiative offers grant funding, training, mentorship, and networking to support female founders. Applications are open here until July 30.

• Regenesys is hosting a 6-night educational and business trip in Sandton, Johannesburg from August 17 to 23, 2025. The experience includes an SME conference and expo, networking sessions, industry visits, cultural tours and time to relax. Cost is KES 250,000 (USD 1,940), which covers flights and meals for three days. Spots are limited, so register now.

And that's a wrap!

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

Cheers,

The Tech Safari Team

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