This Week in African Tech 🌍

Netflix still has its eyes on Nigeria 🎥🍿

December 08, 2024

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Tech Roundup

  • After sinking $120 million into its 5G network, MTN Nigeria now has the fastest download (95.62 Mbps) and upload speeds (17 Mbps) in West and Central Africa.

  • Access Bank, the Nigerian commercial bank, is building Access Africa - a payment rail for people and businesses to send money across the continent via Access Bank accounts. The bank is also partnering with fintechs to facilitate cross-border payments using the rail.

  • Streaming giant Netflix has denied claims of leaving the Nigerian market, saying it will double down on investing in Nigerian content.

Netflix team with some of Nollywood’s most popular actors

  • Jumia's 2024 Black Friday campaign saw 2.6 million orders, an 18% increase on orders from last year, with 1.8 million customers participating. That’s 9% more customers than last year’s Black Friday.

Jumia Egypt’s Black Friday stand

  • Nigerian fintech OPay has partnered with AfriGO, Nigeria’s National Domestic Card Scheme, to boost digital payments in the country.

  • Nigerian mobility startup, Moove, has partnered with Waymo (Google’s self-driving car division) to manage Waymo’s fleet of cars in the US. Moove raised $100 million from Uber earlier this year and has been going harder on global markets.

  • VunaPay, a fintech serving Kenyan farmers, has won the African finals of the Latitude59 pitch competition after standing out for its impactful solution for farmers and scalability. The startup has earned a trip to Tallinn, Estonia for the Grand Finale.

VunaPay’s team at Latitude59

Deal Roundup

  • Francophone fintech HUB2 has raised $8.4 million in a Series A round led by TLcom Capital to help scale its operations across the region.

  • Art-tech platform Raknida is expanding to the US with a $100,000 grant from Arch Grants, a non-profit. The company will relocate 51% of its operations to St. Louis, USA.

Raknida’s founding team

  • Nigerian fintechs Paystack and OPay have partnered to let merchants accept payments directly from OPay accounts, removing the need for debit cards.

  • Still on Paystack, the fintech has partnered with Vendy, a WhatsApp marketplace, to help merchants accept local and international payments. Customers can now pay using Apple Pay, cards (local and international), Vendy Direct, and bank transfers.

  • Egyptian logistics startup Nowlun has raised $1.7 million in seed funding, led by Nama Ventures, to fuel its expansion and accelerate platform development.

Nowlun’s founding team

  • Tanzanian fintech Tunzaa has secured an undisclosed amount of funding from Warioba Ventures to help it scale.

  • Moroccan mobility startup Enakl has raised $1.4 million in a pre-seed round led by Catalyst Fund. The company will use the funding to enhance its technology and expand across Africa.

  • Nigerian edtech AltSchool Africa is expanding to Europe, launching its first operations in Malta, to grow its revenue and scale faster.

AltSchool team in Malta

Other Events and Opportunities

  • The 2024 Africa Bitcoin Conference is coming to Nairobi from December 9th - 11th, 2024, at the JW Marriott Hotel! This three-day event is all about driving Bitcoin adoption across Africa and building stronger international connections. Don’t miss out – grab your tickets here!

And that's a wrap!

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