This Week in African Tech 🌍

Hey, Maryann here 👋🏽 

OpenAI is reportedly eyeing an AI coding tool called Windsurf for a cool $3 billion. Oh, and they might also be cooking up a new social network to challenge X and Instagram. The AI race just got a little more interesting!

In African tech, Moniepoint is now chasing sterling currencies, Nclude has got a new captain, and Tala—unfortunately—has trimmed its team.

The roundup’s coming up in a sec—but first, a quick announcement:

Now, on to this week’s roundup….

Tech Roundup

• Nigerian fintech Moniepoint has launched MonieWorld, a new platform targeting the diaspora banking market. It debuts in the UK with remittance services to Nigeria and plans to expand its offerings for immigrants.

• Development Partners International (DPI) is now managing Egypt’s $105 million Nclude Fund.The fund aims to make Egypt a top fintech hub in the region and has already backed eight local startups with $24.5 million.

• Starlink has bagged a 10-year license to operate in Lesotho, as the country looks to boost internet access in hard-to-reach areas. Currently, about 83% of people in rural Lesotho are still offline

• Investors have lost over $840 million following the collapse of CBEX, a crypto trading platform that promised 100% monthly returns. The platform restricted withdrawals on April 9 before shutting down entirely.

• Kenyan fintech Tala has laid off 28 employees from its customer operations team, citing fewer loan defaults and a drop in customer support queries.

• Tanzanian fintech Ramani has teamed up with Tanzania Commercial Bank to improve financial access for small and medium-sized businesses. The partnership gives SMBs more loan options, lower fees, and friendlier repayment terms.

• PalmPay has launched its own debit card service powered by Verve. This move is part of its plan to become a full-service digital bank, as it rolls out a suite of other banking services like credit and insurance.

• Vodacom is supporting the Independent Communications Authority of South Africa’s (ICASA) move to bar Starlink from operating in South Africa. The laws require telecoms operators to have at least 30% ownership by historically disadvantaged South Africans.

Deal Roundup

• Global data center provider Equinix is investing $140 million to expand in southern Nigeria. It will open a data center in Port Harcourt, which will also be the landing site for Meta’s 2Africa cable.

• Kenyan fintech MyCredit has secured KSh 1.4 billion ($10 million) in funding from Oikocredit and BlueOrchard to lend to private schools across the country. The loan offers up to KSh 10 million ($77,000) with a 6-year tenure and will support infrastructure, working capital, and green financing needs.

• South African mobility startup Zimi has secured $320,000 in grant funding from the EEP Africa Trust Fund. The funding will support pilot testing of its vehicle-to-grid (V2G) tech, which lets electric vehicles share stored energy during power outages or peak demand.

• Egyptian q-commerce startup Rabbit has raised an undisclosed amount from regional investors and expanded into Saudi Arabia. The company has set up its regional HQ in Riyadh and aims to deliver 20 million items across major Saudi cities by 2026.

Other Events and Opportunities

• Talent Safari is hosting its first-ever webinar to discuss hiring as a startup founder. And we have Paul Kimani, founder of WorkPay—one of Africa’s biggest HR and payroll startups—with advice for founders on how to find great talent. Sign up here.

• Join Africa Product Peers on May 1, 2025, from 3:00 PM to 7:00 PM EAT at Piano ALX Hub for APP Mastery: Vibe Coding 101 for PMs & Designers. If you’ve been flirting with AI tools but want to actually ship better products with them, this one’s for you. Sign up here.

• Are you building an SME out of Kenya? Kuzana, an SME accelerator, has opened applications for its second cohorts. Selected companies get up to $40,000 worth of capital and support with accounting, marketing, sales, and operations. Apply here by May 5th.

• Impact Hub Nairobi is back with Community Office Hours—this time on Scaling Smarter with Cloud & AI. It's happening Wednesday, April 30, 10AM-1PM at Ikigai Lower Kabete. Book your spot here.

And that's a wrap!

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

Cheers,

The Tech Safari Team

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