This Week in African Tech 🌍

Hey, Maryann here 👋🏽 

In the past week, we saw space internet plants flags in rural markets, banks gobble up competition, and regulators rewrite the rules. 

Across the continent tech companies and governments are pushing big changes,  and we’ve got the highlights for you.

But before we dive in…

Tech Roundup

• Elon Musk’s Starlink satellite internet quietly resumed sign ups in several African countries including Kenya after a 7‑month pause, restoring rural coverage with speeds up to ~100 Mbps. Last year, Starlink halted sign-ups due to network congestion, so this is big news for connectivity. This comes as Kenya’s regulators propose steep changes including a 10x hike in licence fees and a 2% turnover levy for satellite ISP. Starlink’s return will extend broadband to remote areas, but sustainability under new rules is an open question.

• In a historic pivot, Ethiopia announced it will allow foreign banks to set up and apply for licences for the first time in 50 years. The government has capped new foreign bank licences at five over the next five years and is inviting big lenders—Kenya’s KCB, South Africa’s Standard Bank—to apply. This reverses decades of protectionism and aims to attract capital. 

• In South Africa, President Cyril Ramaphosa has backed a shake-up of Black Economic Empowerment (BEE) rules in ICT. Under the new proposal, foreign tech players like Starlink could skip the usual 30% local-ownership requirement by investing equivalent equity into development programs instead. The move is intended to attract investment without diluting transformation goals. 

• Nigeria’s biggest lender, Access Bank, completed its acquisition of Standard Chartered’s Tanzanian banking business. This deal, announced quietly via Instagram, follows Access Bank’s recent buys in Angola, Sierra Leone and Gambia. Once Nigeria’s apex bank’s restrictions lift in July, Access Bank aims to be a pan-African powerhouse. This quietly cements a trend: Nigerian banks are aggressively expanding regionally, scooping up the exits of global banks refocusing away from Africa.

• UK-based crypto firm Luno has re-entered the Kenyan market after a 10-year hiatus in the country. The company, which previously operated in Kenya as BitX before leaving in 2014, now returns under its global brand name, Luno, which it adopted in 2017. The relaunch adds to its existing operations in Nigeria and South Africa.

• Nigeria’s Lagos State has launched a digital addressing system—every building gets a numbered plate with a scannable QR code. This solves Lagos’s chronic “where do you live?” problem by giving exact, GPS-linked addresses for homes. It will help emergency services, deliveries and utility mapping. The flip side: it also helps the state track property for taxes. 

Deal Roundup

• Ghanaian agri-tech Complete Farmer secured $2.5 million from the EU’s AgriFI investment fund. This fresh financing will support its platform for commercial crop production and supply chain logistics across West Africa.

• Nigerian HR/payroll fintech PaidHR raised $1.8 million in a seed round led by Accion Venture Lab . The funding will turbocharge its cross-border payroll and employee wallet platform. With this round, PaidHR is gearing up to capture more of Nigeria’s payroll market.
  

• BAS Group (a Nigerian conglomerate in finance and health) has acquired a majority stake in invoice-financing startup Zuvy. The undisclosed cash deal gives BAS operational control as it targets Nigeria’s ~$236 billion SME credit gap. Zuvy’s platform allows vendors to get early payment on validated invoices. Under BAS’ ownership, it will plug into a larger lending portfolio. This M&A adds fintech credit tools to BAS’s offerings and gives Zuvy cash and scale.

   

• Shoptreo, an e-commerce platform for local artisans, announced a new undisclosed raise led by Rebel Seed Capital. Shoptreo connects leather craftsmen in Aba, Nigeria (and other informal producers) to global buyers via online storefronts and logistics support. The funding will help Shoptreo onboard hundreds more artisans and expand exports of “Made-in-Aba” goods.

• Nigerian fintech Hizo, which helps small retailers accept digital payments, raised a $100,000 friends-and-family seed round. Hizo plans to use it to expand its payment platform in Nigeria.

Other Events and Opportunities

• Visa has opened applications for its She’s Next programme to women-led businesses in South Africa. The initiative offers grant funding, training, mentorship, and networking to support female founders. Applications are open here until July 30.

• Regenesys is hosting a 6-night educational and business trip in Sandton, Johannesburg from August 17 to 23, 2025. The experience includes an SME conference and expo, networking sessions, industry visits, cultural tours and time to relax. Cost is KES 250,000 (USD 1,940), which covers flights and meals for three days. Spots are limited, so register now.

And that's a wrap!

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

Cheers,

The Tech Safari Team

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