Africa's Tech Future, Today.
Airtel Money priced its London IPO at 196p a share, valuing the African mobile money business at about £5.3bn ($7bn). Full trading opens today after a soft start in conditional dealings.
Financial technology startup Chimoney has been acquired by CapitalSage Vantage Limited, five months after announcing its closure due to capital depletion. The acquisition revives the cross-border payment platform, settles outstanding obligations, and secures a regulated pathway for international expansion.
Six years after launching vehicle financing for ride-hailing drivers in Lagos, mobility fintech Moove is exiting the Nigerian market. The company is handing over eligible vehicles valued at ₦35 billion to current operators, ending vehicle payment obligations as it shifts focus toward international markets and autonomous robotaxi fleets.
Oluwatomi Ayorinde and Chizaram Ucheaga launched Timon to solve the payment barriers faced by African travellers. By offering multi-currency travel cards, the startup has processed over $47 million across 16 African markets.
A national salary study reveals that 46 out of every 100 Nigerian workers earn below ₦200,000 ($150) per month. The data highlights systemic wage pressures, currency inflation impacts, and income disparities across the formal and informal workforce.
South African private equity firm Infinite Partners has secured R2.8 billion ($169.3 million) for its Core Equity Fund II, exceeding its initial fundraising target. Backed entirely by domestic institutional investors, the fund provides capital to established mid-market enterprises across digital infrastructure, software, and financial services sectors.
The Central Bank of Kenya is seeking enhanced regulatory authority to intervene in and directly manage troubled financial technology companies. The proposed legislative changes aim to protect consumer funds and preserve systemic stability across the digital financial services sector.
Wealth management platform Cowrywise has surpassed 1 million executed stock trades on its digital investment application. The milestone reflects expanding retail investor participation in the Nigerian Stock Exchange as young, tech-savvy users adopt automated equity trading tools.
Fintech and asset-financing platform M-KOPA has acquired Finnish software firm KilpiTek Oy for $8 million (approximately KES 1.04 billion). The acquisition brings core device-locking technology in-house as the company scales its pay-as-you-go credit offerings across African markets.
Airtel Money has set its initial public offering price at 1.96 pounds per share, securing an estimated market capitalization of 5.3 billion pounds, or approximately 7 billion dollars. The listing involves existing shareholders offering 270 million shares on the London Stock Exchange, establishing a major benchmark for African mobile payments.
The Johannesburg Stock Exchange and the Technology Innovation Agency have partnered to run a 16-week pilot initiative for 10 South African tech SMEs. Focusing on health, agriculture, and fintech, the program aims to build investment readiness, refine pitches, and connect founders to capital providers.
Financial performance metrics from Guaranty Trust Holding Company highlight how its payment subsidiary HabariPay is scaling operations across Nigeria. The non-banking division's profit trajectory and asset growth demonstrate a deliberate push to capture market share from regional fintech rivals.
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