This Week in African Tech 🌍

Hey hey, Darius here 👋🏼, good morning and a moment of appreciation for the inventor of "Send Now, Pay Later." 

This week, LemFi launched a credit-powered remittance feature. That means I can now instantly receive money from my sister in the UK without having to wait for her payday. I think it’s the best thing since sliced bread and it single-handedly saves an entire generation from the “I sent it, you haven’t received it yet?” anxiety spiral that happens every time they check their bank account balance.

There’s more in today’s roundup. Let’s dive in.

Tech Roundup

• LemFi says it has launched the world’s first credit-powered remittance tool. Its new Send Now, Pay Later feature lets UK immigrants use a LemFi credit line to send money home instantly, no waiting for payday. Powered by the company’s Ensemble AI model, it analyzes open banking, remittance, and credit data to assess eligibility.

• Uganda is betting $5.5 billion on a fully digital economy. The country’s Diacente Group and Global Settlement Network are building national infrastructure that connects industries and rolls out a new central bank digital currency, the digital shilling. Starting in the Karamoja industrial zone, the project promises one million jobs, instant payments, and financial access for over 60 million East Africans.

• Nigeria’s ntel is getting a second life. The once-bankrupt telecom operator has secured fresh funding to relaunch in early 2026, backed by the Asset Management Corporation of Nigeria. With 3,500 km of fibre and 600 base stations in its arsenal, ntel plans a hybrid model combining its own infrastructure with MVNO services. If successful, it could be Nigeria’s first state-rescued telco to pull off a comeback.

• Iyinoluwa Aboyeji and three other startup leaders have been elected to join Nigeria’s National Council for Digital Innovation and Entrepreneurship. The group will help shape how the Startup Act is implemented, from policy to execution, and ensure founders have a say in the country’s innovation roadmap. NITDA says the move is part of a bigger push to make Nigeria’s tech ecosystem more inclusive and founder-led.

• EchoVC ran a $2.5M climate-tech experiment, and it worked. The Lagos-based VC revealed that most African climate startups don’t actually need pure equity. Its pilot fund, launched with Shell Foundation and UKAid, backed 15 startups using flexible mixes of equity, grants, and assets. It says the model could redefine how climate innovation gets financed on the continent.

• South Africans can now use crypto like cash. A new partnership between Scan to Pay and MoneyBadger lets shoppers pay with bitcoin, stablecoins, and other digital assets at over 650,000 stores, including Checkers, Shoprite, and Makro. Merchants still get paid in rand, while crypto holders finally get to use their coins for groceries, fuel, and data top-ups. The move, backed by exchanges like Luno and Binance, signals a shift from “holding” to “spending” as crypto edges closer to everyday use.

• Starting April 2026, the Central Bank of Nigeria will require all two million PoS operators in Nigeria to work exclusively with one provider, whether a bank, fintech, or super agent. The new rule, part of the most sweeping reforms since 2013, aims to curb fraud, enforce transaction limits, and bring tighter oversight to a sector now moving trillions in cash each quarter.

• M-KOPA’s pay-as-you-go bet is finally paying off. The asset-financing startup realised $9.2 million in profit in 2024 after years of losses, fueled by 66% revenue growth to $416 million. Once known for solar kits, the company now drives growth through smartphone financing and digital credit.

• Moniepoint is spending big to go global. The Nigerian fintech has spent $3.77 million of a $7.39 million budget on its London expansion. The funds mostly went to acquire Bancom, a licensed UK money outfit. Its UK arm hasn’t made a penny yet, but its new remittance app, MonieWorld, launched in April, is already gaining traction with the African diaspora.

• Kenya wants big business to bankroll its next wave of startups. Under a new proposal by the Kenya National Innovation Agency, large companies would be required to channel part of their CSR budgets into a national innovation fund supporting early-stage ventures. If passed, the plan would make Kenya one of Africa’s first countries to legally tie corporate philanthropy to startup financing.

Deal Roundup

• Cabo Verde has launched a €24 million fund for its startup scene. The new Morabeza Fund aims to back local founders and fast-track the island nation’s digital transformation. The government says it’s part of a bigger push to turn Cabo Verde into a regional tech and innovation hub.

• MNT-Halan, Egypt’s fintech unicorn, has secured $71.4 million via its seventh securitisation, signaling sustained investor confidence in its lending engine. Managed by CIB and CI Capital, the bond issue is part of a $168M program fueling its credit expansion. Debt markets, not VCs, are funding this fintech’s climb.

• Egypt’s Tagaddod secured $26.3 million Series A funding to expand its renewable feedstock network powering sustainable fuels. The company digitizes waste collection for traceable inputs like used cooking oil and animal fats across three continents. With AI-powered logistics and new regional hubs, it’s building the pipes that make the circular economy actually work.

• Cameroonian fintech REasy raised $1.8 million in pre-seed funding to make cross-border trade actually work for African SMEs. Its platform fuses payments, compliance, and logistics, so importers can pay Chinese suppliers as easily as a merchant in Europe. The startup, already active on the $3.7B China–Cameroon trade corridor, plans to expand into Nigeria next, eyeing one million customers by 2030.

• Gabon’s POZI raised $755,000 to scale its AI-powered fleet management platform, offering predictive analytics and performance tools beyond basic tracking. Backed by Saviu Ventures and EMSY CAPITAL, the startup plans to expand into Côte d’Ivoire next year, marking a rare international VC win for Central Africa.

• Jahazii just raised $400,000 to build what it calls the Operating System for Africa’s Workforce, a platform that unites HR, payroll, and embedded finance. The startup’s payroll-backed model lets employees access earned wages, savings, and insurance while helping employers cut compliance chaos.

• Egypt’s Sabika raised a six-figure USD round to expand its Sharia-compliant gold and silver investment platform. The fintech, backed by M-Empire Angels, lets users buy asset-backed precious metals through a digital interface, no riba attached. With 20,000 users already on board, Sabika is now eyeing Saudi Arabia for its next vault.

@techsafarihq

@Uber exits Côte d'Ivoire. #techstartup #techtok #uber #mobility

And that's a wrap!

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

Cheers,

The Tech Safari Team

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