This Week in African Tech 🌍

Hey hey, Darius here 👋🏼, good morning.

Here’s something fun I came across this week:

A German-made freight lift used in last week's Louvre jewellery heist went viral on social media, because nothing says "German efficiency" quite like helping thieves move $100 million in Napoleonic jewels in under seven minutes.

But on the other side of the Mediterranean, the moves were equally bold but significantly more legal, starting with TymeBank's decision to rebrand as GoTyme.

Let’s get into it!

Tech Roundup

• After reaching profitability and 10 million customers, TymeBank is swapping its name for GoTyme in 2026. The rebrand aligns its South African arm with sister operations in Asia, where the bank has added 3.6 million users in 18 months. With a $1.5 billion valuation and backing from African Rainbow Capital and Nu Holdings, the move signals TymeBank’s shift from local upstart to global digital banking brand.

• Customers of the First National Bank (FNB) can now pay with a fist bump, literally. The bank has partnered with South African fintech VezoPay to launch the country’s first smart payment ring. Certified by Visa and Mastercard and powered by Fidesmo, the NFC-enabled ring links to FNB’s virtual cards and needs no charging.

• MTN has officially joined the 300-million club. The continent’s largest telecom operator crossed the mark this year, hitting its Ambition 2025 goal ahead of schedule. With Nigeria driving growth and its MoMo wallet deepening loyalty across markets, MTN’s next chapter focuses on three pillars, fintech, digital infrastructure, and connected homes, as it builds toward 2030.

• Kenyan B2B startup Twiga Foods has been ordered to pay a former sales rep $7,800 for unfair dismissal. The court ruled that Twiga fired Maxton Duke Kibira without evidence of poor performance or due process, calling its salary deductions “unilateral.” It’s the latest in a wave of labour rulings, including against Umba and Dawa Life Sciences, that are putting Kenya’s fast-growing tech scene on notice.

• Global crypto firm Blockchain.com is bringing tokenised US assets to Nigeria. In partnership with Ondo Finance, the platform now lets users trade digital versions of US stocks and ETFs directly from their wallets. To sweeten the debut, Nigerian investors can earn ONDO rewards for early trades. The launch deepens Blockchain.com’s push into Africa’s digital finance scene, though the country’s regulators have yet to set clear rules for tokenised investments.

• South Africa’s fintech market is set to hit R340 billion ($19.5B) by 2030, per a new TransUnion report. The study of 4.3 million consumers shows fintech lenders reshaping how South Africans access credit, from BNPL to SME financing, but also taking on riskier borrowers. Nearly 95% of fintech short-term loans go to below-prime customers, underscoring both the growth potential and fragility of the market.

• Lebara is dialing into Nigeria. The global mobile operator has started recruiting for 28 senior and technical roles as it gears up for a 2026 debut. It’s a bold play in Nigeria’s emerging MVNO scene, already drawing attention from Vitel Wireless and ntel. With its “one SIM, many countries” model, Lebara is betting on affordable roaming and global connectivity to win over Africa’s most connected market.

• BMONI, an AI-driven finance platform from Meltwater founder Jorn Lyseggen, has launched in Nigeria, offering multi-currency accounts, biometric security, and stablecoin-backed transfers. Designed for Africa’s digital-first generation, it’s promising a future where managing money across borders is as easy as sending a text.

Deal Roundup

• Moniepoint topped up its Series C round with $90 million, bringing the total to $200 million a year after hitting unicorn status. The round was led by Development Partners International and LeapFrog Investments, with backing from Google, Visa, IFC, and others. The fintech plans to use the cash to fuel its African expansion, including a Kenya acquisition and its new UK remittance product, MonieWorld.

•  Spiro, the Nairobi EV startup dominating Kenya’s roads, closed $100 million to supercharge its battery-swapping empire. Led by Afreximbank’s FEDA, the round pushes its total funding to $280 million, the biggest yet for Africa’s two-wheel EV scene. With over 50,000 bikes, 1,000 swap stations, and operations in six countries, Spiro’s next stop is Cameroon and Tanzania as it races to electrify the continent’s motorbike economy.

• Enko Capital has raised $100 million in the first close of its new fund, backed by heavyweights like BII and IFC. The $150 million Enko Impact Credit Fund will lend in dollars to mid-market African firms in sectors from energy to manufacturing, fueling growth where traditional finance often falls short.

• Malengo has raised $12.9 million to help more East African youth study (and earn) abroad. Backed by The Shapiro Foundation, the non-profit will fund 700 students from Uganda, Kenya, and Rwanda to attend universities in Germany through its pay-it-forward model. With 500 alumni already earning up to $40,000 a year, Malengo’s approach is proving education can be an export that pays back.

• Yaga, South Africa’s biggest online thrift platform, raised R80 million ($4.6 million) from global backers including H&M Group Ventures. The 25-person startup has doubled revenue yearly, moving over 6 million fashion items and paying out R1.6 billion ($92.6 million) to sellers.

• South African AI startup Locstat raised $2.3 million to take its data intelligence platform global. Backed by Portugal Gateway Fund and ANZA Capital, the company plans to expand into the UK and EU. Locstat’s graph-powered AI is already spotting fraud and mapping customer behavior across African banks, now it wants to bring that precision to Europe.

• Ivorian fintech Julaya just landed $1.4 million from state-backed CDC-CI Capital to supercharge its expansion. The funding, structured as a convertible bond, will fuel product development and client growth as Julaya scales its digital payment platform for businesses. It follows the company’s regulatory greenlight from the Central Bank of West African States, marking another win for Côte d’Ivoire’s rising fintech scene.

• SehaTech wants to fix the paperwork mess in healthcare. The Cairo startup raised $1.1 million in seed funding, led by Ingressive Capital, to grow its AI-driven platform that automates insurance claims and approvals. With $2 million total raised, SehaTech is betting automation can make health coverage smoother for patients across Africa and emerging markets.

• Cairo-based Nanovate raised $1 million to make AI speak Arabic fluently. Founded in January, the startup builds conversational agents and automation tools trained on 22 regional dialects across MENA. Backed by angel investors and Raya FutureTECH, Nanovate plans to expand into Saudi Arabia and the UAE as it scales localized AI for businesses.

• Madica is doubling down on Africa’s AI space. The early-stage investor just backed Tunisia’s Anavid and Morocco’s Hypeo AI with $400,000, betting on startups that blend emerging tech with real-world industries. Both will join Madica’s 18-month accelerator and gain access to its global investor network. The firm also partnered with the African Business Angel Network to funnel more early capital from within the continent, a step toward its $6M goal across 30 startups by 2025.

• Global Shop Group, a New York-based company, has acquired Ivorian e-commerce startup ANKA, the platform once known as Afrikrea, to deepen its footprint in African fashion. ANKA, which helps African and diaspora creators sell globally, has processed over $60 million in transactions and hit breakeven after pivoting to SaaS.

• NVIDIA invested an undisclosed sum in Cassava Technologies, the pan-African infrastructure player behind Liquid Intelligent Technologies and Africa Data Centres. The funding will help Cassava expand its cloud, AI, and connectivity services across Africa and beyond, and comes months after reports of a $720 million AI factory partnership between the two.

@techsafarihq

Moniepoint is betting big on London. #moniepoint #founder #cofounder #fintech

And that's a wrap!

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

Cheers,

The Tech Safari Team

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