The GSMA, in partnership with six leading African mobile operators—Airtel, Axian Telecom, Ethio Telecom, MTN, Orange, and Vodacom—has announced a major initiative proposing baseline standards for affordable entry-level 4G smartphones. This collaborative effort aims to eliminate the single largest barrier to mobile internet adoption across Africa: device affordability. With more than 3 billion people globally…
PAYDAY, a Tunisian fintech and insurtech startup, has successfully secured its first pre-seed funding round led by UGFS North Africa, with participation from TALYS Group and BioProtection SA, valuing the company at $3 million. Founded in 2024, PAYDAY is pioneering an integrated model that combines salary-backed financing with micro-Takaful protection, positioning itself at the forefront…
The West African Development Bank (BOAD) has marked a historic milestone with the successful issuance of a €1 billion bond with a 15-year maturity, setting a new benchmark as the longest euro-denominated bond ever issued by an African Multilateral Development Bank. This groundbreaking achievement reflects strong investor confidence in BOAD’s strategic vision and financial resilience,…
WPP Scangroup Plc has announced the appointment of Akua Brayie Owusu-Nartey as its new Group Chief Executive Officer and Executive Director, effective 17 November 2025. This leadership transition comes at a critical time for the company following the exit of former CEO Patricia Ithau in July and the interim stewardship of COO Miriam Kaggwa. Owusu-Nartey…
Spiro has achieved a historic milestone in Africa’s mobility sector with a landmark $100 million investment round, the largest ever in the electric two-wheel segment. Led by The Fund for Export Development in Africa (FEDA), this funding recognizes Spiro’s dominant leadership in battery-swapping technology and its mission to accelerate the transition to clean, cost-effective transportation…
Egyptian fintech company Money Fellows has reached a groundbreaking milestone, surpassing $1.5 billion in total transactions as it continues to redefine traditional savings and lending systems across the region. With over 8 million users and more than 2 million rotating savings groups completed, the platform has successfully digitized Egypt’s popular Rotating Savings and Credit Associations…
South African AI innovation is stepping onto the global stage as Locstat secures EUR2.5 million (US$2.3 million) in pre-Series A funding to accelerate its expansion into the United Kingdom and the European Union. This strategic investment, led by Portugal Gateway Fund (PGF) and ANZA Capital, will power Locstat’s go-to-market strategy and reinforce its position in…
Moniepoint Inc. has secured an additional US$90 million in fresh funding, bringing the total raised under its ongoing Series C round to US$200 million, solidifying its status as one of Africa’s most influential fintech powerhouses. This new capital injection was led by Development Partners International’s African Development (ADP) III fund with participation from global investors…
