This Week in African Tech 🌍

Hey hey, Darius here 👋🏼, happy new year!

Now, regardless of which side of Terra’s cap table you’re on, we can all agree the year’s shaping up to be a great one, and it started with Flutterwave acquiring Mono.

Let’s unpack this week's news. But before that…

Tech Roundup

• Kenyan MPs are opening a parliamentary inquiry into the government’s plan to sell part of its Safaricom stake in a $1.5 billion deal with Vodacom. The proposed sale would lift Vodacom’s ownership to 55%, permanently shifting control of Kenya’s most profitable company. Lawmakers and civil society groups are questioning whether the price reflects Safaricom’s long-term growth, or gives away a strategic asset too cheaply.

• Nigeria’s telecom regulator is calling in the consultants. The NCC has tapped PwC to run a data-driven review of competition in the country’s telecoms market, a move that could shape future regulation, pricing, and investment. Expect stakeholder sessions and possibly tougher rules once the findings land.

• PiggyVest is moving serious money. The Nigerian fintech paid out ₦1.3 trillion (~$1.69 billion) in 2025, up 56% year over year, as it crossed 6 million users ahead of its 10th birthday. Assets under management more than doubled, and the company quietly ditched third-party rails for its own in-house payment system.

• Visa cards no longer ride with Uber in Kenya. Rising global payment costs have pushed the ride-hailer to drop the card option, leaving M-PESA and cash as the main ways to pay. For everyday riders, it’s seamless; for expats and businesses, it’s a bump in the ride.

• Nigeria has doubled the stakes for digital asset firms. The SEC raised minimum capital requirements for exchanges and custodians to ₦2 billion ($1.4 million), signalling that crypto is now considered systemically important, not a fringe experiment. Critics warn the move favors well-funded incumbents over scrappy local startups, but it could also filter out risky operators and protect investors.

• Airtel is taking a swing at Safaricom’s Fuliza. The Kenyan telco plans to launch an overdraft service on Airtel Money, letting users spend even when their balance runs dry. With lower fees hinted at and approvals underway, Airtel is aiming to chip away at Safaricom’s 89.7% grip on mobile money credit.

• South Africa’s central bank is letting non-banks into the payments grid in 2026. Fintechs, mobile wallets, and retailers can now handle real-time transactions without a traditional banking licence, cutting costs, boosting reach, and shaking up the status quo in a market long dominated by four major banks.

• Noah and NALA announced a strategic partnership to build a new stablecoin-powered network that lets businesses collect USD anywhere and pay out local currency in minutes, bypassing banking delays that cost emerging markets billions. With real-time settlement, 24/7 flows, and full compliance, the duo aims to close an $850 billion liquidity gap across Africa and Asia

•  Silverbacks Holdings notched its 10th exit as Flutterwave acquired Nigerian open-banking startup Mono in an all-stock deal. With fintech proving the fastest lane to liquidity, Silverbacks is now pivoting to sports, bringing on high-profile backers like Boris Kodjoe and Pepsi Pokane to build Africa’s premier sports-tech and entertainment platform

• Starlink is making its mini kits more wallet-friendly in Kenya. The satellite internet provider now lets users pay in installments: a small upfront fee plus monthly payments over six months. The move aims to boost adoption in rural areas, where upfront costs had kept Starlink stuck at under 1% market share.

Deal Roundup

• Green Pay has raised undisclosed equity from CDC-CI, Côte d’Ivoire’s state-backed financial institution, aligning the fintech with the state’s financial inclusion agenda and Orange’s distribution muscle. The backing bolsters Green Pay’s push to scale card and mobile money acceptance as it eyes regional expansion.

• Egypt’s Business For Teens has secured a six-figure pre-seed round to scale hands-on entrepreneurship training in schools across Egypt and Saudi Arabia. The startup plans to reach 6,000 students by 2026, proving business education doesn’t have to wait until college

• Paycrest has raised $404,000 to make stablecoin-to-fiat settlements less messy. The decentralized finance startup is building infrastructure that coordinates liquidity across borders, letting multiple verified nodes handle funds without losing control. Early pilots have stress-tested routing and compliance, setting the stage for predictable, reliable cross-border payments.

• After years of selling virtual dollar cards to consumers, Cardtonic is going B2B. Fintech has closed a $2.1 million seed round to launch Pil, an expense and spending platform born from its own internal pain points. Think multi-card controls, real-time tracking, and fewer “why did this payment fail?” moments.

• Terra Industries emerged from stealth with an $11.75 million round, led by 8VC to secure Africa’s critical infrastructure using autonomous defense systems. Terra Industries develops autonomous systems, spanning land, air, and sea, to secure infrastructure in regions where traditional security models fall short. With deployments already live and manufacturing based in Abuja, the company wants Africa’s industrial future protected by African-built tech.

• MAX, Nigeria’s electric mobility financier, closed a $24 million round from global investors and debt partners, backing its shift from vehicle loans to a full EV platform. The startup plans to expand clean energy infrastructure, boost local EV assembly, and push toward $150 million in recurring revenue, proving EVs can scale in Africa

Events

• Founder Institute is launching its Mano River chapter, bringing the world’s largest pre-accelerator to Côte d’Ivoire, Guinea, Sierra Leone, and Liberia. On Tuesday, January 20, join leading investors and ecosystem builders, including Eric Osiakwan, for a virtual deep dive on how VCs evaluate early-stage startups, common fundraising mistakes, and how to get investment-ready. Register here.

• Tech Revolution 2.0 kicks off January 30–31 in Lagos, bringing 5,000+ innovators, investors, and policymakers together. Expect deep dives on AI, payments, connectivity, and scaling startups, all aimed at putting Africa front and center in global digital innovation. Get your tickets here.

• Chainalysis is bringing its Nodes conference to Nigeria in 2026. The one-day event will convene regulators, law enforcement, and crypto industry leaders to talk about investigations, policy, and the future of blockchain in the country. Expect fewer buzzwords, more real-world lessons. Join the waitlist here.

• Cross-border trade is getting a little less painful in East Africa. Join the community meetup that will spotlight how Tanzania-based buyers can pay Kenyan merchants directly, no SIM swapping required, using Paybill and Till numbers. Come for the payments update, stay for the apero and ecosystem chat. RSVP here.

Post of the Week

And that's a wrap!

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

Cheers,

The Tech Safari Team

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